The market closed the session on a mixed note, with the N10 inching lower by 0.1%. On the other hand, the NASI, NSE 20, and NSE 25 remained unchanged.
Equity turnover dipped to USD 1.9m (-29.2%). Local investors dominated market activity, accounting for 87.7% of the turnover levels, up from 63.0% yesterday.
NCBA dominated trading activity, accounting for 22.2% of the day’s turnover. The counter’s price function remained unchanged at KES 90.00, largely driven by local investor activity.
Additionally, Safaricom, Equity Group, and Co-op Bank gravitated towards positions of relative stability, remaining unchanged at KES 29.70, KES 69.00, and KES 26.95, respectively.
On the other hand, KCB Group rose by 0.4% to KES 67.50 while KenGen eased by 1.0% to KES 9.70. Total Kenya was the day’s top gainer, rallying by 6.7% to KES 39.60. Conversely, ABSA New Gold ETF shed 41.4% to KES 3,260.00, closing as the leading laggard.
Foreign investors were bearish during the trading session, with net outflows of USD 88.9k. NCBA led the buying charge while KCB Group led the selling charge.
In a notice dated 13th January 2025, the Board of I&M Group announced that it had successfully acquired the shares in I&M Bank (T) Limited, Tanzania (IMTz), that were previously held by PROPARCO and Microfinance East Africa Ltd (MEAL), following receipt of all corporate and regulatory approvals. Following this acquisition by I&M Group PLC, the Group’s overall shareholding in IMTz (including shares held by I&M Bank Limited) increased from 84.9% to 95.5%.
Kenya Re has announced a special general meeting slated for 11th February 2026, in which the Board proposes amendments to its Articles, including the introduction of Class A and Class B shares, reducing the maximum number of directors from 11 to 9, amongst other proposals. In particular, the ordinary shares of Kenya Shillings 2.50 each shall constitute two classes of shares categorized as follows:
- Class A shares: ordinary shares held by shareholders of the company other than those shares held by the Cabinet Secretary to the National Treasury of Kenya.
- Class B shares: ordinary shares held by the Cabinet Secretary to the National Treasury on behalf of the Government of Kenya.
The holders of Class A and B shares are expected to have the same rights and privileges, except with respect to the nomination and election of directors. Subject to complying with the provisions of these Articles and statutory requirements:
- Holders of Class A shares will be entitled to elect three (3) directors to the Board;
- Holders of Class B shares will be entitled to elect five (5) directors to the Board.