A group of lenders who swapped Kenya Airways Plc debt into shares almost two years ago betting on a turnaround can’t seem to catch a break, Bloomberg reports. Just this month, shares of the carrier have fallen 19% to 2.80 shillings by close of Thursday’s trade, 64% below the price
Read More
The Uganda Shilling remained largely stable over the quarter ended May 2019 despite some volatility recorded in April 2019. However, according to the State of the Economy Report released by Bank of Uganda (BoU) in July 2019, outlook indicates that the local unit is likely to get weaker. On quarterly
Read More
Shares in Kenya’s Safaricom Plc opened 2.7 per cent lower at KSh27.35 on Monday after the telecoms company announced the death of Chief Executive Robert William Collymore after a nearly two-year battle with cancer, Refinitiv data showed. In May, Collymore, 61, had said he would stay in his position for
Read More
The Uganda shilling strengthened against a backdrop of strong inflows from commodity exporters and portfolio flows targeting the fixed income investments during the week ending 21st June 2019. Trading was in the range of 3690/3700 compared to Monday opening levels of 3715/3725. In the money market, overnight funds were priced
Read More
The Uganda shilling gained ground supported by increased inflows amid low demand as Corporates geared for mid-month tax payments during the Market week ending 14th June 2019. The ongoing investigations on Bank of Uganda (BoU) officials over printing an extra unauthorized Shs90bn didn’t affect the local unit this week as
Read More
Uganda has joined Tanzania to suspend the conversion of Kenyan Shillings as a measure to stop the rush to wash in illegally got cash in neighbouring countries after Kenya decided to issue newer series. In a statement last evening, Bank of Uganda said it had been informed by the
Read More
Some Kenyan opposition politicians have called the new bank notes introduced over the weekend unconstitutional as they use the image of former President Jomo Kenyatta, privately-owned Daily Nation reports. One side of the notes features a statue of Mr Kenyatta rather than a formal portrait: Amani National Congress leader Musalia
Read More
The Uganda shilling was ranging, oscillating up and down in a non- directional market. The unit opened the week stable, surrendered ground mid- week and at close of the trading, the shilling marginally strengthened supported by interbank selling. The trading was kept within the levels of 3755-3765. In the Interbank
Read More
The Uganda Shilling was stable cushioned by dollars inflows as demand remained muted on corporate mid- month tax payments. Trading was in the range of 3765/3775 during the week ending May17, 2019. In the money market, overnight funds were priced at an average of 6% while one week was at
Read More
Heightened demand kept the shilling on the back foot during the trading week ending 10th may 2019. The shilling was under immense pressure breaching the key level of 3775. Demand was mostly from the interbank and importers. In the money market, overnight funds traded at an average of 6% while
Read More
