Longhorn Share Price Gains 4% Following its Schools Digital Plan

Longhorn Publishers joined the top leaders pack today following the shifting of its content to digital platforms with an eye on the multi-billion shilling primary schools computerization program.

The Jubilee government’s flagship Digital Literacy Program, which aims to equip 1.2 million primary school learners with digital devices, kicked off in March this year after several false starts.

All Class One pupils in over 20,000 public schools are expected to receive laptops or tablets under the KES 17 billion first phase of the project by March next year. Under the program, content developers are set to reap big as the government opens the content development to private sector in liaison with the Kenya Institute of Curriculum Development (KICD). Local universities have been supplying the devices.

Longhorn Publishers Group managing director Simon Ngigi said Wednesday the firm has developed adequate digital capacity which is fully approved by KICD to provide content for the schools digital learning project.

Trading activity dropped on Thursday when compared to its performance yesterday with continued foreign investors outflows observed as from Monday.

Currencies

The Kenyan shilling was steady on Thursday as it traded at close to its yesterday’s mean of KES 101.28 owing to support from hard currency inflows from offshore investors buying government debt.

The local currency gained further against the Sterling and the Euro following deepening worries on Brexit which have seen the Sterling loose against all currencies. The options have gently been narrowed as to the UK’s position outside of the EU and as we get further clarity the rates are reacting.

With the information that the UK will seek to invoke Article 50 by March 2017 which means there is a 2 year period within which to strike a new deal with the EU. By setting the UK on a path to a more ‘hard’ Brexit financial markets are concerned over the shape of the negotiations ahead and what it will mean for the UK economy.

Read: Shilling Steady on Tuesday