“Write 1,000 words every day. At the beginning, you’ll write them for practice and to better your craft. With time, you would have gotten so good at the craft that you’ll write 1,000 words everyday, for publish.” – Bett
A friend of mine, Bett, shared with me the above advice on writing. It’s been a while since I last soaked myself with finance news and updates…sorry guys. However, Bett’s advice came at just the right moment to rekindle the flame that was slowly fading. Thank you Bett!
Though rusty, my fingers are dancing with energy to provide you with the latest news in the finance world,so welcome back dear reader😊.
Top in the market
Safaricom, the darling for every investor and the dream workplace for most students. After its announcement of the Sh 63.4 billion in net profit for the year ending March 2019, Safaricom made another statement of excellence after it exceeded the 50% mark valuation in the Sh 2.2 trillion valued Nairobi Securities Exchange. This means that Saf’s market value is worth more than the combined valuation of all the other 62 companies. Over the years, its dominance has been stamped several times in the services it has provided and in its growing revenue. Kudos to them! Of the other 62 companies, EABL, Equity, KCB (a takeover transaction of NBK almost coming through) and Coop rank high too in market value.
KQ
I would imagine that when you are having a talk with your friends about companies in Kenya, KQ would receive the shameful shaking of the head as with some other companies like Uchumi and Nakumatt. The airliner has been struggling for a very long time to remain afloat and the recent financial performance shows tough times still loom. Board chairman, Michael Joseph, announced KQ’s half year loss of sh 8.56 billion where he attributed this loss to increased investment expenses in their efforts to revive the airliner. The management is working hard to position KQ as a profit making entity even as competition in the airline industry continues to increase. Recently the board made a request to have the airline nationalized which they say will minimize costs largely related to taxes. Let’s hope these efforts strengthen its wings.
Forex Trading
The desire for money can blind the wisdom of the learned. An increasing number of ads luring you to make easy money has raised concerns over the security of Kenyans investments. Recently, the Capital Markets Authority, which regulates Capital Markets in Kenya, issued a stern warning over a rising number of illegal forex traders. The regulator has warned Kenyans against dealing with unlicensed online Forex traders. To avoid the risk of loss, always check with CMA if a certain trader is licensed. Under the Forex market, so far only two firms are licensed and approved to trade as non-dealing online forex exchange brokers, EGM securities and SCFM. Making investments is healthy and can be very rewarding (save/invest before you spend). But always remember, dear reader, trade wisely and trade carefully.
That’s it for the major headlines this week. Feel free to comment on topics that you feel we can talk about in the blog. I would love to hear your feedback and as always, thank you for reading through❤.
Bonne weekend😊.
frank.finance 