Browsing: Kenya Economy

  • Compared to other capitals on the continent, the NSE stock exchange performance was the third-worst performance of any primary stock market in Africa since January
  • The performance of African stock markets has recently been hampered by a decreased appetite for emerging markets in the wake of an increase in interest rates in developed markets such as the United States
  • The Nairobi Securities Exchange (NSE) was placed eighth among the ten largest stock markets in Africa, despite having a return of minus 30 per cent in dollar terms

Hit by the capital flight of foreign investors and the ease of repatriation of share sales compared to other capitals on the continent, the Nairobi bourse has had the third-worst performance of any primary stock market in Africa since January.

The Nairobi Securities Exchange (NSE) was placed eighth among the ten largest stock markets in Africa, despite having a return of minus 30 …

Kenya East Africa’s largest and advanced economy has witnessed how the coronavirus has winged the trajectory of its private sector as the levels of activity and demand in May, as the virus stopped various economic interactions, a Stanbic Kenya survey showed.

According to the survey, the Purchasing Managers Index (PMI) stood at 36.7 higher than April’s 34.8.

Further, if there is reading above 50.0 it signals an improvement in business conditions as in the previous month, while readings below 50.0 show deterioration.

However, according to Regional Economist for East Africa at Stanbic Bank Jibran Qureishi said business conditions have worsened in each month of 2020 so far, with the latest deterioration marked by historical standards, according to information from Capital FM Kenya.

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Also, the report noted that “Driving the downturn was a considerable fall in output levels in …

Kenya’s Safaricom M-Pesa —one of Africa’s and East Africa’s largest mobile money service, could be affected by the coronavirus pandemic (COVID-19), as the service provider anticipates its revenue to be hit to almost $51.64 million in the three months from mid-march after it adjusted prices because of the COVID-19 crisis, according to information from Reuters

According to Reuters, the lost revenue which is almost 7.3 per cent of the mobile money service provider annual revenue, will be caused by the removal of all charges on small peer-to-peer transfers to facilitate cashless payments to help to contain the coronavirus pandemic, which has already taken a toll in other crucial sectors of the East African economy.

As one among the region’s and global leader in the industry, the South African and Britain owned company is not worried by the forecast, as the company’s CEO Peter Ndegwa told Reuters, that they anticipate getting …