Tag: rodney omukhulu
Kenya Revenue Authority tax collections in April has dropped by about $190 million, reflecting the unresponsive business environment amid the Covid-19. Latest data from Treasury indicates that tax collections fell to about $1 billion in April from about $1.3 billion in same month last year, representing a 14.46 per cent drop. The airline plans to resume its passenger flights on 8th June 2020. Rodney Omukhulu, Assistant Investments Analyst at Cytonn joins CNBC Africa for more.
In Kenya, the banking sector continues to dominate activity at the Nairobi Securities Exchange with shares worth Ksh775 million transacted, which accounted for 48.27 per cent of the traded value in the week that ended on 30th April 2020. Moreover, the Central Bank of Kenya announced the insurance of a 5-year Ksh50 billion bond for budgetary support in May with the auction date set for Wednesday 6th of May. The market-determined bond will mature in May 2025 with CBK encouraging investors to use treasury mobile direct or internet banking to purchase the bond. Joining CNBC Africa for more is Rodney Omukhulu, Assistant Investments Analyst at Cytonn.
Kenya's coffee sector received close to $14 million from World Bank, to boost the production of speciality coffee and link farmers to direct markets in order to eliminate the issue of cartels. Moreover, the Capital Markets Authority announced that it will allow listed companies on the Nairobi Securities Exchange to pay dividends without holding annual general meetings. Rodney Omukhulu, Assistant investments Analyst joins CNBC Africa for more.
In Kenya, Foreign investors withdrew about $106 million from the Nairobi Securities Exchange in February and March, leading to a sharp fall in the value of blue chip stocks like Safaricom and Equity Bank Group. Also, Moody's has warned that measures put in place to shield Kenya’s banks from disruptions associated with the coronavirus outbreak, might not hold should the situation worsen. Rodney Omukhulu, Assistant Investments Analyst at Cytonn joins CNBC Africa for more.
Cytonn’s Rodney Omukhulu explains measures Kenyan govt. is taking to curb COVID-19 impact on economy
With the COVID-19 pandemic presenting an unprecedented global health crisis, the Kenyan government has taken drastic measures, including pay cuts for top government officials, in a bid to cushion the country from the economic shocks arising from the pandemic. Rodney Omukhulu, Assistant Investments Analyst at Cytonn joins CNBC Africa for more.
Kenya's energy watchdog has cut retail electricity prices for large manufactures in a bid to make the country more competitive for FDIs when compared to other African countries. Investment Analyst, Rodney Omukhulu joins CNBC Africa's Arnold Kwizera for more.
Google has cancelled plans to buy a 12.5 per cent stake in Africa's largest wind farm after delays to the project. The 310 megawatt (MW) Lake Turkana wind farm in Kenya was initially set for completion 2017, after which Google had committed to buy the stake from Danish wind turbine maker Vestas. Also the country set up two new facilities to test for the coronavirus. Initially, all samples taken from individuals suspected to have the virus were sent to South Africa. Rodney Omukhulu, Assistant Investments Analyst at Cytonn joins CNBC Africa for more.
The African Development Bank (AfDB) Group predicted Kenya's 2020 GDP to grow at 6 per cent this year, boosted by favourable weather conditions and big-ticket investments around the Big 4 agenda on health, housing, manufacturing and agriculture. Also, Kenya’s private sector activity fell for the first time in nine months to January, largely due to weak consumer demand, pointing to poor cash flow in the country. Rodney Omukhulu, Assistant Investments Analyst at Cytonn joins CNBC Africa for more.
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