HENATES

After gently punctuating Monday's recovery by dropping by only 0.04%, the All shares index at Nairobi securities exchange dropped sharply by 0.95% or 1.64 points today August 30 to 171.21. There was no opposite direction to trading indicators either as traded volume dropped by 43.2% to 19.2m shares and traded value declined by 27.6% to. Kes 620.5m. Number of deals too also decreased by 13.9% to 1432. In the end, only the bond market closed exceptionally with traded value up by 36.7% to Kes 2.57bn after Yesterday hopeful recovery to Kes 1.882bn. However, the under Kes 50m government treasury bond segment of the market virtually dried up with only one recording deals worth Kes 20m. The main action was in the government stock above Kes 50m nominal value with two witnessing deals for Kes 500m each. Safaricom, though with lower units compared to previous day, led volume and value once again recording deals for 9.83m shared at between Kes 25.50 and 26.75 worth Kes 258m. It thus accounted...

At the Nigerian stock exchange today August 30, 2017 for the 3rd day running cascaded downward after last Friday's recovery. It dropped by 1.45% to 35,629.13. The current journey downward started on Monday as it declined by 0.9% to 36317.31 then followed up with 0.42% to 36,165.93 yesterday. The drop rate apparently increased today Dangote cement and Guinness joined Mobil oil with Naira drops just as truly bearish pricing led to only 7 price gains and 31 drops. Mobil oil, still searching for a bottom, led Naira losers by going down N8.68 per share or 3rd highest 4.99%. It had closed Tuesday at N173.79 and opened and closed the day at N165.11. It also recorded 48 deals for 0.173m shares worth N28.6m. It was closely trailed by Dangote cement down N8.13 per share or 3.82%. Dangote cement closed Tuesday at N212.65 per share, opened at N205 and hit day low of N204.52 per share. It ended the day with 10th ranked 104 deals for 3.219m units worth day high N659.9m. Top % price drop was howe...

Contractors who wish to supply various items or execute capital contracts for the Central Bank of Nigeria from this year will now have to swear to an affidavit detailing whether or not any officer of the CBN or of the Bureau of Public Enterprises is a former or present director, shareholder or has pecuniary interest in the contacting company. According to a formal notice on the banks website detailing 14 items  for which pre qualification is currently needed, it stated that the affidavit must also affirm that information given by the bidder is true and correct. The 14 items listed include supply of stationery; computer consumables, computer equipment, office equipment, vehicles, medical consumables, furniture items and generators. The list also includes execution of capital projects for the bank , provision of printing and publishing; communication and consultancy services to the bank. To prequalify, interested companies are expected to submit their interest and the following documents...

Stanbic IBTC PLC has released guidelines on how as shareholder in the company you can opt to receive the 5k per share dividend soon to be declared in the form of new shares in the company. At an extraordinary general meeting held on August 6, 2015, it had been resolved that up to the year 2020 shareholders will have option of receiving their dividend outright in cash or re invest in the business and be entitled to new shares. Ultimately, the intention is to retain as much as possible in the company as shareholders can afford to reinvest but it also has the likely impact of gradually increasing the % holdings of those shareholders liquid enough to let go. So, if you would prefer to retain or even grow your own % holdings, your best option is to make the sacrifice and go for new shares instead of immediate cash. According to a release yesterday by the Company secretary, Chidi Okezie, because the AGM likely to approve the dividend is coming up September 12, 2017, your dec...

It was rather easy for Nairobi securities exchange to recover from yesterday's near low today August 29, 2017 volume and value more than doubled but number of deals rose by only 18.3% to 1664. Traded volume rose by 153.7% to 33.89m while traded value increased by 126.3% to Kes 857.5m but All shares index dropped by 0.04% to 172.75.after hitting a new high yesterday. Safaricom paced both volume and value closing the with deals for 13.5,m shares, slightly higher than total market traded value yesterday. The shares were traded at between Kes 26.25 and 27.25 per share as Safaricom hit all time high and the value was Kes 486m.  Thus, it accounted for 39.8% of traded volume and 56.7% of traded value. All the 11 quoted banks were active and the sector ended with Kes 208m traded value or 24.36%. Of this amount, KCB,  trading at between Kes 45.25 and 46 per share, recorded deals for 1.625m shares worth Kes 73.9m led the sector in value terms followed by Equity group, up 1.12%  witnessed dea...

There was nothing in the first half of this year to bamboozle Kenya's Bamburi cement into thinking all is well; instead, there was enough to sweat over. First, there was 8.78% drop in total income to Kes 17632m dragged there from lower 8.25% decline in core turnover to Kes 17535m by 55.6% drop in investment income to Kes 97m. Secondly, operating cost refused to decrease at least in step with income drop going down instead by only 0.55% to Kes 14879m. This resulted in 36% decrease in operating income to Kes 2656m. Then finance cost rose by 55.6% to Kes 28m leaving only the decline in Other losses to Kes 53m from Kes 77m the only hope raiser through the six months. Bamburi's CEO, Bruno Pescheux put it all to rather tough operating conditions in Kenya; slump in construction; delays in some infrastructure projects and drought. It could in fact have been worse but good market conditions in neighbouring Uganda. Cost pressures came from higher coal prices; high cost of power and lower...

Total Nigeria did quite a solo today Monday August 28, 2017 at the Nigerian stock exchange by gaining N19.70 per share in a clearly bearish day in which far more equities recorded price drops leading to 1.44% drop in the All shares index. Total had closed Friday at N216 per share and opened the day at N227 before hitting day high of N236.50 per share at which it closed the day. It also recorded 26 deals for 0.024m units worth 5.663m. In all there were only 9 price gainers for the day and Total Nigeria led both Naira and % gains with 9.09% increase also a solo one above 5%. In view of the Total solo closing, Mobil oil's leading N9.62 per share or by 5% could not make oil and gas index join the rank of banking, consumer and premium indices to bring the ASI down. Mobil oil ended Friday at N192.55 per share; opened today at N186 before slipping further to close at day low of N182.93 per share. It witnessed deals for 0.194 shares worth N36.16m. In all there were 30 price drops and Mobil...

Today, August 28, 2017, the Nairobi securities exchange started week 35 at near bottom although All shares index rose by 0.67% or 1.16 points to 173.47. Traded volume tumbled by 49.1% to 4.6m shares: traded value followed almost in tow with 46.1% drop to Kes 378.8m and number of deals decreased by 24.2% to 1406. The bond market even declined by a wider margin, by 55.2% to Kes 847.7m traded value 26 deals compared to Kes 1.89bn in 19 deals last Friday. There were more deals because all the government stocks in the under Kes 50m nominal value category recorded deals but most of it below Kes 100m each hence in spite of the number, traded recorded in the category was less than Kes 100m However, the corporate bond category recorded deals worth Kes 100m and above Kes 50m nominal value bond accounted for the balance in scanty deals. Witnessing deals for as relatively low 4.6m shares, Safaricom still led volume accounting for 34.6% but in value terms, they were worth Kes 123m or 32.5% with the...

NIGERIA: CONSOLIDATED HALLMARK INSURANCE RIGHTS ISSUE Consolidated Hallmark Insurance PLC is soon to raise new capital through a Rights issue to shareholders on its register by today August 28, 2017. According to the acting head Listing Regulations department of the exchange, Mr Godstime Iwenekhai, the company has formally applied to the exchange for approval and listing of the rights. Under the planned offer, shareholders are to be asked to take 1 new share for each 6 held as at today at par of N0.50 per share. That, incidentally, was the price of the equity by the close of business last Friday August 25 and indeed, at least in the last one year to Friday. On that date too 35,000 units were sold while the price earnings ratio stood at 8.41. Consolidated Hallmark paid final dividend of N0.02 per share last May and went ex-dividend on the same day. NEW CEO FOR UNITY KAPITAL ASSURANCE Mr Polycarp O Didam has appointed the new managing director /CEO of Unity Kapital Assurance PLC . Accord...

The Central bank of Nigeria (CBN) has come up with two new products designed specifically to help non-interest financial institutions access lifeline support whenever needed and interest free too. According to the Director, Financial markets of the CBN, Dr Alvan Ikoku, through a recent circular, the two products are Funding for liquidity facility (FfLF) and Intra-day Facility (IDF) meant to provide very short term credit to these institutions whenever needed to stay liquid. Both products have much in common except that the FfLF will provide over night support of the kind interest charging institutions provide each other or look to the CBN whenever needed while the IDF lasts one day, no overnight. The active periods for the overnight credit is from 2pm to 3.30 pm and any  credit extended is to be terminated on the next day. The IDF, on the other hand, will be available between 9am and 2.30 pm with repayment within the same day between 10am and 3pm. Both are to be backed wi...

Soon says the Nigerian stock exchange, Morision Industries plc may ask shareholders to cough out a little above N500m in new money through a Rights issue of 11 additional shares for each 2 held by any shareholder in the company's register by last friday, Agust 25. According to the acting head of listing and reghulations department of the exchange, Mr Godstime Iwenekhai, Morison Industries has formally submitted an application for the rights issue to the stock exchange stating that it intends to issue 836.983m new shares at N0.60 per share to existing shareholders. A close look at the recent half year results published by the company indicates quite clearly that Morison Industries needed the money desperately if it is to stop current high speed down hill. By hald year, total income not only dropped by 25.4% to just N61.4m,but more importantly, under very real pressure from loan servicing, it almost lost every kobo it earned within the period. This was mainly because by June ...

Unity Kapital Insurance, on Friday August 25, 2017 at the Nigerian stock exchange recorded rare offload to push total traded volume up by 77.4% to 422.4m shares but just could not help traded value from dropping by 40.8% to N3.249bn. Barely shifting from its par traded price of N0.50 pee share, it witnessed 5 deals for 231.4m offload worth N115.7m. It thus accounted for 54.8% of the day's traded volume but just 9th place ranking in terms of traded value. Access bank trailed its volume lead from quite a distance with leading 291 deals for 39.819m shares worth 3rd placed N403.3m. So traded value declined despite volume leap because no equity recorded deals worth more than N500m as GTB paced with N485.66m in 2nd ranked 246 deals involving 4th placed 11.938m shares. The drop in number of deals was also not surprising as none had above 300 deals with Access bank and GTB lead being followed by FBN Holdings with 214 deals for 7.14m shares worth N42.6m. Even though gainers at 15 almost dou...

At the Nairobi securities exchange, today August 25, 2017 the All shares index closed week 34 at new high of 172.31, up 4.31% on last Friday's 165.20. Up to Tuesday, August 22, the ASI did an up today, down tomorrow dance out of step with trading but on Wednesday it gained 0.58% to 167.53, capped it with 0.69% rise to 168.69 yesterday before today's new high. Weekly statistics indicate 24 price gains and 23 drops within the week which may not quite explain the sharp rise in ASI recorded. Close look however, points to Safaricom's gain of Kes 2.25 per share gain at closing Kes 26.50 as the main driver. Safaricom has the highest component of the market capitalisation and like for Dangote Cement in the Nigerian market, its price movements send ripples that impact on the ASI. Safaricom actually hit an all time high of Kes 27 per share before easing to the final Friday close. Thus, the deals struck for its market leading 37.9m shares sold through the week were at...

NIGERIA: TRANEX RIGHTS CLOSES NEXT WEEK. The rights issue of Trans-Nationwide Express PLC, which opened since July 24, this year comes to a close next week on August 30, 2017. The offer was of 298.23m N0.50 ordinary shares at N0.80 per share to shareholders registered in the company's books by January 25, this year. They were offered to take up three new shares for each two held. According to Tranex CEO, Chidinma I Iheme, shareholders who are yet to get their circular on the offer should please contact Meristem Securities or the Registrars, Cardinalstone Registrars before the closing date. Tranex is raising the money to expand operations and, says the CEO, enhance profitabity and shareholder value. PAINTS & COATINGS TO DELIST Paints and Coatings Manufacturers PLC, one of the paint makers,quoted on the Nigerian stock exchange, has set in motion machinery to effectively delist from the exchange. According to the acting Head, Listing and Regulations department of the exchange, God...

Much as shareholders of East African Breweries can afford to smile when yhey meet September 21st, there is an urgent task that must be tackled: Find a way to clip the wings of cost sale. This is because in the full financial year to June 2017, it almost deprived all stakeholders of any smiles over 2017 performance. According to the figures released yesterday August 24, the company's turnover increased by 9.21% to Kes 70.247bn but cost of sale grew almost 3 times faster by 21.8% to Kes 39.117bn. Of course, in view of this, foundation profit (gross profit) decreased by 3.30% to Kes 31.13bn. Hence, that EABL ended the year with 6.16% rise in profit before tax was due mainly to a firm grip overhead costs including the lucky break in late 2016 interest rate capping regime. Total cost, says EABL, came to Kes 17.18bn, down 7.60% from 2016's Kes 18.593bn and included drop in interest paid from Kes 3.265bn to Kes3.174bn. Because EABL ended 2016 year in dire need of cash closing that yea...

Once again major price drops at the Nigerian stock exchange today August 24 2017 dragged the All shares index down by 1.30% to 36575.86 after two consecutive days of recovery. The last time gang up of major drops pulled the rug was on August when N9.99 and N9.38 per share drops in Nestlé Nigeria and Dangote cement dragged the ASI down by 0.91%, of course with added shoulders from less weighty equities. Today, the combination was N11.20 per share leading drop in Total Nigeria: N10.69 per share decline by Mobil oil and Dangote cement's N8.34 per share drop. With help from 22 other price drops, it was easy to drag ASI down especially when the 19 gainers recorded low drop rates. Nigerian Breweries led Naira gainers with N2.98 gain and closest to that was Union Bank's N0.29 per share gain of day high 5.08%. Indeed, Neimeth was the only other major gainer in % terms rising by 5.06% of N0.04 per share. Naturally, indices associated with the leading price drops went down at a rate fast...

At the Nigerian stock market today, August 23, 2017, witnessed runaway traded value of N5.53bn, up 50.6% and well ahead if only 8.18% growth recorded in traded value to 264.28m shares accompanied by 0.52% rise in number of deals to 3849. The runaway occurred as 3 equities, of high price range, closed with deals for above N1m each. Zenith bank edged ahead of Nestlé Nigeria with N1,324bn traded value as it recorded day high 327 deals and 57.24m shares offload. Zenith had closed up by N0.45  per share. On the other hand, Nestle eased by N0.20 per share then recorded 10th ranked 106 deals for 1.08m units worth N1.322.88bn. The 3rd traded value driver was GTV with 2nd ranked 322 deals for 3rd placed 23.5m shares worth N1,16bn while gaining N0.09 per share. Thus, together, the trio accounted for N3.81bn or 68.9% of traded value for the day. However, Nestlé's volume was short of top 10 and GTB's was edged into 3rd position by UBA, up N0.12 per share with 4th placed 232 deals for 40.59...

At the Nairobi securities exchange today August 23, 2017, the bond market continued to gradually dry up as traded value came to Kes 1.0bn in 36 deals compared to Kes 1.67bn yesterday. The gradual slide began on the 21st after it had closed week 33 with hopeful recovery to Kes 2.994bn traded value. It eased to Kes 2.42bn dropping further yesterday. Unlike yesterday, no deals were recorded in corporate bonds and deals in government fixed treasury bonds above 50m Kes were scanty The real estate fund segment of the market witnessed rare improved activity though as 18 deals for Kes 6.34m worth were traded compared to 2 deals for just Kes 62,200 yesterday or just no deal most days hitherto. At the equity market, most of the momentum gained by trading indicators yesterday gave way to reverses and, sure, the All shares index also reversed in step to close up 0.58% at 167.53. Traded volume crashed by 58.8% to 19m shares; traded value declined almost in step by 45.1% to Kes 545.6m and number of ...

With immediate effect, all loans under the Commercial Agricultural Credit Scheme (CACS) administered by the Central bank of Nigeria CBN are to be insured by the Nigeria Agricultural Insurance Corporation ( NAIC). According to the CBN in a circular to banks dated August 15 and signed by Kevin Amugo, Director, Financial Policy and Regulation, the loans under CACS should be insured as provided for by the law establishinh NAIC. The review of the CACS guidelines to give effect to this, says the CBN, was 'to enhance its effectiveness and further mitigate the risks faced by participating financial institutions in financing agricultural sector'. In  furtherance of the above, the circular added, "the CBN hereby directs the immediate commencement of insurance premium payment by borrowers under the CACS  scheme". It then concluded thus: " Participating financial institutions and stakeholders are requested to note that these guidelines supersede other related versions"....

The Nairobi securities exchange, as a company quoted on its own market, is presently looking up to the 2nd half of 2017 year to put smiles of shareholders faces. As for the first half, says unaudited figures released this week, not much to smile about due to a number of factors. It total income for the 6 months had grown by only 2.89% to Kes 352.3m under pressure from 9.07% decline in interest income to Kes 47.1m and 7.62% decrease in share of associated companies profit to Kes 7.52m. This was in spite of 5.92% growth in operating income to Kes 282.6m and in Other income by 8.92% to Kes 17.1m. Applying more pressure, administration cost rose by 8.02% to Kes 254.7m resulting in 6.56% decline in profit before tax to N99.7m. On the surface, especially if 2016 trend holds again, this means that 2017 performance may be short of 2016 by a discomforting margin. Not to worry because this may not be the case. First, it explained that administration cost was affected by the cost of new products ...

According to latest capital importation figures released by the National Bureau of Statistics, yesterday August 22, foreign investors confidence is recovering fast on the Nigerian economy particularly from the United Kingdom. According to the figures for the quarter to June 2017, a total of $1,792.3m was imported into Nigeria as capital in the three months to June, representing 95.02% increase or $884.1m on the first quarter to March and 43.6% on 2nd quarter in 2016 when a total of $1042.2m was brought in. May recorded the highest of the 3 months with $616.5m, followed by June with $612.6m then April with $563.3m. According to the NBS, portfolio investment accounted for the bulk of the growth rising by 145.7%  to $770.5m when compared to quarter 1 while Other investments in flow came to $747.5m, up 95.02% on 1st quarter and foreign direct investment (FDI) accounted for $274.4m representing only 15.3% increase. Thus, portfolio investment accounted for 43% of total imported w...

As the Nigerian stock market today, August 22, 2017 made u-turn on Nestle Nigeria and Dangote cement, the All shares index recovered grounds lost yesterday at 36,962.48, up 1.03%. Yesterday, it had been dragged down, more or less, when Nestle Nigeria lost N9.99 per share and Dangote cement went down by N9.38 per share. Today, both equities reversed direction with Nestle Nigeria rising by leading N20.19 per share or 1.68%. It had closed yesterday at N1200.01, opened today at N1210.2 before hitting new high of N1220.2 per share. Dangite cement too gained N9.28 per share, just 10 kobo short of what it lost yesterday. But on the ladder, it was eased to 3rd place in terms of Naira gain by Total Nigeria which closed up N11.40 per share or day high 5%. Caverton Offshore shared the %gain top spot with Total as it closed up by N0.05 per share. Thus between them , the four led % and Naira gains for the day. However, while Dangote cement's gain resulted in 2.76%  rise in premium index to 2427...

Trading today, August 22, 2107, recovered rather easily from yesterday's second low at Nairobi securities exchange on the bank of energy and petroleum  and banking sectors but, again, All shares index went the opposite direction. The ASI dropped by 0.64 points or 0.38% to 165.67 after raising hopes yesterday of a new round upwards look but traded volume grew more than 5 times to 46.12m shares from yesterday's lowly 8.78m; traded value increased by  more than 4 times to Kes 993m from yesterday's Kes 215.78m and number of deals increased by 34.7 % to 1579, still below recently newfound above 2000. The quantum leap in volume was as two equities in the Energy and Petroleum sector, Ken Gen and Kenya power recorded together witnessed deals for 26m shares or about 56.5% of the days volume. Ken Gen, trading at between Kes 9.20 and 9.40 per share recorded deals for 15.345m shares worth Kes 141m and Kenya power, up 2.81% to Kes 10.95, witnessed deals for 10.69m units worth Kes ...

The Security and Exchange Commission of Nigeria (SEC NIGERIA) today August 22, 2017 published proposed new set of rules or changes to existing rules and regulations to which stakeholders are expected to respond to within two weeks. The new rules and regulations affect specialised funds and schemes; investment advisory services; Nominee accounts; Demutualisation of securities exchange in Nigeria; portfolio and fund management; book building and the commision's code of corporate governance. For example, the new rules and regulations on specialised funds cover eligibility, primarily, says SEC, "To expand the investment universe of specialised funds /schemes and distinguish them from traditional mutual funds by allowing for selection/inclusion of riskier assets and providing for diversification across a broader spectrum .." It provides for foreign market due diligence review report to be undertaken by fund managers where appropriate showing risk and return profile of th...

KENYA: BARCLAY'S BANK: Interim:         Kes 0.20 per share Closure:          4/9/2017 Payment;       13/10/2017 STANBIC HOLDINGS: Interim:           Kes 1.25 per share Closure:         11/9/2017 Payment:       29/9/2017 KCB GROUP: Interim:           Kes 1.00 per share Closure:           4/9/2017 Payment:         31/10/2017 KENOL KOBIL: Interim:            Kes 0.30 Closure:           25/8/2017 Payment:         31/10/2017 EAST AFRICAN BREWERIES: Interim:           Kes 5.50 per share Closure:          25/8/2017 Payment:        31/10/2017 NATION MEDIA: Interim:        Kes 2....

Those who expected more optimistic pricing at the Nigerian stock exchange today Monday August 21 2017 as a result of the return of President Buhari to Nigeria last Saturday must have been disappointed because the All shares index closed down by 0.91% to 36,584.44 after a promising 1.66% rally last Friday. But this may not be exactly in response to any interpretation of the possibilities in the presidential return after more than 100 days outside the country because, actually gainers outnumbered losers but high priced or highly capitalised equities were more amongst the losers. Leading 16 price drops was Nestle Nigeria, undoubtedly Nigeria's highest priced quoted company. It lost N9.99 per share or 0.83% at N1200.01 per share. It then recorded 38 deals for 0.17m shares worth N204.57m. Dangote Cement, followed closely with N9.38 per share drop to N215.62 or 4.17% then recorded 94 deals for 4.41m worth 2nd highest traded value of N949.94m. Hence, with support from FBN Holdings a...

In recent days at Nairobi securities exchange, trading activity had been recovering while All shares index dropped but today, August 21, 2017, the dance beats changed sort of: ASI closed up and trading indicators dived. Traded volume declined by 71% to second lowest, 8.78m shares; traded value dropped by 69.1% to Kes 215.79m and number of deals went down 26.3% to 1172 but ASI, after recent daily drops, rose by 1.41 points or 0.85% to 166.61. On August 9, that is just after Kenya's nationwide elections, traded volume had dropped by 24.6% to 7.99m which remains the lowest in recent times. This was recorded through 638 deals valued at Kes166.6m, down 45%. Earlier, in the previous trading day, August 7, traded volume had dived by 64.7% to 10.35m shares in 1097 deals. Today's volume though low, was far more shared across the market sectors and so, only two equities recorded deals for above 1m units each: Safaricom and CIC Insurance. Safaricom, down 50 Kcents at Kes 24.75 still ended...

In recent months, Henates has received annual reports and unaudited results from many public quoted companies especially from Kenya and Nigeria and has come to the conclusion that not many of the companies can categorically if their returns are being read. Or perhaps, not many want it to be tead and understood because this gives birth to troublesome questions during annual and extraordinariy general meetings of shareholders, the kind of pains in the neck that some board chairmen prefer to give some handshake to avoid. But the point still remains that returns are made mandatory so that stakeholders, particularly, shareholders can have a true and fair view of the state of their company and how it is being run. Such returns too should help new investors  decide if they should invest. Unfortunately, even Henates, with up to three decades of studying and interpreting corporate financials, still finds it difficult at times to look through some reports and below are some of t...

Compared to other companies quoted on the Nairobi securities exchange, Kenya Orchards Ltd, must be one of the smallest, if not the smallest and so, its gains and pains come in little doses too. However, so far in 2017, says interim figures to June, released today, August 21 by the exchange, little drops of pain have overwhelmed little gains leaving Kenya Orchards small but significant drop in profit before tax. The picture of the half year is captured this way: Income grew by little 3.83% to Kes 32.24m but profit before tax declined by 11.3% to N1.72m as little drops of gain gave way to tiny but overwhelming pains. The pains surfaced from when cost of sale increased by little but higher income growth 4.42% to Kes 29m, followed with 4.35% rise in finance costs to Kes 0.24m. The gains looked hefty in % terms as administration cost was sliced by 65.5% to Kes 0.19m and establishment expenses dropped by 12.8% to Kes 0.034m but guess what? Selling and distribution costs to grow by 104% to Ke...

Trading in week 33 at the Nairobi securities exchange closed yesterday Friday, August 18, 2017 summing up a week of price movements but no significant shift in All shares index. The ASI ended Friday down 0.88 points at 165.20 when compared to Thursday close but this came to just 20 points ahead of 165 previous Friday. Yet, there were 33 price increases within the week as against only 17 drops and at higher % too. Top gain for the week was 21.82% rise to Kes 3.35 by Oympia Capital followed by the Nairobi securities exchange itself which gained 13.1% to Kes 23.75 and CIC Insurance up 11.61% to Kes 6.25 per share. Sure, these three were the only ones with double digit % gains but Kapchorua Tea and BOC Kenya closed up by 8.93%  and 8% respectively not to talk of the clusters of 4 with gains in the 7% range: Sameer Africa, up 7.84%; I&M Holdings with 7.83%; EA Cables (7.69%); Kenya Airways (7.61%) and Sanlam Africa up by 7.21%. Among the 17 price drops, only one was in double digit:  Ex...

Today at the Nigerian stock exchange, investors finally came to terms with half year figures reflection of bank 2017 potentials as many  banks or bank dominated groups resulting in day high 3.7% rise in banking index to 448.95 to drive All shares index up 1.66% to 36,920.42. The banking gains were led by GTB, up N2.40 per share or 2nd highest 6.47% followed by Stanbic IBTC with N1.85 per share or 6.36% and Zenith bank which closed at N24.53 per share, up N1.52 or leading 6.61%. The day's 26 price gainers were however led by Dangote cement as it rose by N5.20 per share to N225 or 2.37% of its opening price. Thus, will all three premium equities rallying , the premium index ended up ahead of ASI growth as it closed at 2448.3, up 2.95%.  Banks too still paced volume and traded value as offloads were recorded in Zenith, GTB and UBA even though total market volume rose by only 5.11% to 236.6m shares and traded value eased by 12.3% to N4.8bn. Between both, Zenith and GTB accounted for ab...

In 2016 there were sharp drops in the number of people arriving and departing from Nigeria through recognised points, according to the National Bureau of statistics. From the figures, departures dropped by 81.7% to 1.659m from the high since 2013 of 3.6m recorded in 2015. On the other hand, arrivals declined by 44.4% to 1.82m, also from a high since 2013 of 3.275m recorded in 2015. Between 2013 and 2016_ total arrivals and departures were 6.437m and 6.943m respectively.  Of this figure, 68.6% of the arrivals were Nigerians as against 72.2% in the case of departures. On both counts, the drops recorded in arrivals and departures in 2016 were due mainly to higher % decrease in relevant Nigerian figures. Nigerian arrivals had declined by 73.3% in 2016 while departures reduced by 55.3%. The 2016 figure for departures was the lowest since 2013 followed by 2014 but second lowest in terms of arrivals with 2014's 1.75m being the lowest. The nation's entry points by air accounted for the...

The Central Bank of Nigeria, CBN, has open its doors to medical equipment suppliers who might be prepared to go through prequalification exercise before actual bid. According to notice on it website, the medical equipment are to be supplied separately to its three diagnostic and treatment centres in Abuja, Enugu and Ibadan. The prequalification submission deadline is 12noon September 26, 2017 and waxed sealed envelopes boldly marked "Expression of interest for the supply of medical equipment to....." (depending on centre of choice) must be submitted not beyond 12 noon on that day addressed to the Secretary, Major Tenders Committee, 2nd Floor, Wing C, CBN Head office Abuja. To qualify for the exercise, companies must accompany their expression of interest compulsorily with proof of registration as a company in Nigeria, certified memorandum and articles of association, evidence of payment of 3year tax as when due(reflecting value of projects undertaken in last 3years),com...

On August 8, 2017; that is barely 10 days ago today, Henates Analysis published the post titled "Mobil changes its name" It was a story based on efforts to educate investors at the Nigerian stock exchange that a quoted company, Mobil Oil Nigeria ltd had changed its name to Double One Ltd following the successful acquisition of 60% interests of ExxonMobil by NIPCO Ltd, an unquoted Nigerian company. Within days, the post turned out to be one of the most popular since this blog Henates.blogspot.com debuted back in 2015 and by today's count, it had recorded  135 views within days. Just as Henates was  wondering how come it become that popular, a viewer wrote in through WhatsApp with a question which simply said: Now that Mobil has changed its name, what happens to Comand Clem Nigeria ltd? Of course, we had not heard of that company but further enquiry unearthed something we found very interesting which also raised a good question in need of answers: Is it legal to sel...

Today, Thursday, August 17, 2017 All shares Index and activity indicators all closed down except for new found resilience in the bond market at Nairobi securities exchange. The All shares index dropped by 0.71 points or 0.43% to 166.08; traded value declined by 50.1% to Kes 563.28m; traded volume decreased by 47.4% to 24.67m and number of deals sealed climbed down from recent daily high horse by 34.9% to 1547. The bond market was the only one with growth which is probably hinting at return flagship position of yore. It recorded 41 deals worth Kes 2.7bn compared to first muscle flexing yesterday in 29 deals worth Kes 1.58bn. The segment that actually came back to life was government fixed income bond which virtually dried up in days before yesterday. Even yesterday, it closed relatively low too but today accounted for Kes 2.66bn worth of deals. The banking sector dominated the day's trading in equities as it accounted for Kes 383m or 68.14% of total traded value. This was despite th...