Tag: Cytonn investments
The Nairobi Securities Exchange shed more than half a trillion Kenyan shillings as investors reacted to cases of COVID-19 on the country's economy. Felix Otieno, Investment Analyst from Cytonn Investments joins CNBC Africa for more.
Kenya Power’s pre-tax profit for the year ended June 2019 dropped by 93 per cent to $3.31 million, attributing the drop to the higher costs of buying electricity. Also, the unaudited results for the six month period ending December 31, 2019 the East African Portland Cement made $15.6 million loss after tax, with sales revenues up 8 per cent to hit. The Competition Authority of Kenya has approved the proposed acquisition of control of Gulf Energy Holdings Limited by KenoL Kobil PLC. David Kingoo, Manager at Cytonn Investments joins CNBC Africa for more.
Kenya climbed up to the fourth position of most attractive economies to invest in according to a new report from South Africa's Rand Merchant Bank. Micheal Obaga from Cytonn Investments joins CNBC Africa for more.
The need for affordable housing across the East African Community (EAC) member states is key on all government agendas for the year. Real Estate Analyst, Wacu Mbugua from Cytonn Investments joins CNBC Africa for more.
In Kenya, foreign currency deposits held in local commercial banks dropped by an equivalent of Ksh12.3 billion between June and August, coinciding with the expiry of a tax amnesty on repatriation of assets held abroad. Also demand for the government short-term debt fell to the lowest level in more than a year after uncapping loan rates despite return on 3 and 6 month papers going up. Senior Procurement Associate at Cytonn Investments, David Kingoo joins CNBC Africa to explain what is moving and shaking the Kenyan market.
The High Court of Mombasa recently declared the current tax imposed by the Kenya Revenue Authority (KRA) on second-hand cars illegal. The Kenya Revenue Authority has been using the price quotations that are used by new vehicle dealers as the main basis for determining the import duties and other levies on second-hand cars that are shipped from overseas. To discuss if the taxes imposed on used motor vehicles are to drop significantly in the coming months, David Kingoo, Senior Procurement Associate at Cytonn Investments joins CNBC Africa for more.
The stock market indicators at Nairobi Securities Exchange show a market on the decline between January and September 2019. Also, The Kenyan government has reached a deal with Mauritius to amend the nullified double tax deal on businesses and individuals who stash away cash. Caleb Mugendi, Assistant Manager of Public Markets at Cytonn Investments joins CNBC Africa for more.
This week, shares for Mumias Sugar Company Limited were halted from trading at the Nairobi Securities Exchange following the appointment of a receiver manager by KCB Bank mainly due to the default in loans the bank provided to the firm. To digest this and much more, Caleb Mugendi, Assistant Manager of Public Markets at Cytonn Investments joins CNBC Africa.