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Shillings Sheds Off 0.03% On Friday

BY Soko Directory Team · July 29, 2022 04:07 pm

Exchange Rate Performance

USD|KES: KES weakened 0.03% to close at 118.80 (-5.00% year-to-date).

GBP|KES: KES weakened 0.44% to close at 143.69 (+5.50% year-to-date).

EUR|KES: KES weakened 0.07% to close at 120.67 (+5.72% year-to-date).

Kenyan Stock Market

Total equity turnover went up by 62.99% to close at USD 4.44 MN (KES 527.19 MN) compared to yesterday’s turnover of USD 2.72 MN (KES 323.44 MN).

NSE 20 and NASI rose by 1.17% and 0.41% to close at 1,701.31 and 141.05 respectively.

Foreign investors assumed a net selling position by accounting for 5.56% of total market purchases and 77.55% of total market sales.

Ethiopian Hydropower To Kenya

Ethiopia will become Kenya’s second biggest source of hydropower in a deal by Kenya Power to buy 600 MW from Ethiopia Electric Power (EEP) starting in November, The deal follows a 27-year power purchase agreement that will run till 2047, as Kenya turns toward cheaper sources of electricity.

Power from EEP is expected to cost between KES 6 and KES 7.07, which is lower than the average KES 10 per kWh offered by power producers.

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