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Business Daily

Mystery Investor’s Purchase of Safaricom Shares Stops Plunge

A mid-week block purchase of Safaricom shares by an unknown local institutional investor has halted the slide in the telco’s shares that had hit a 69-month low, triggering bargain purchases. Nairobi Securities Exchange (NSE) data show…
Business Daily

IMF Projects Ethiopia, Angola Economies to Overtake Kenya

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Kenya is set to be replaced as the third-largest economy in sub-Saharan Africa by Angola and Ethiopia, weakening the East African country’s power to tap investors enticed with a population that has more cash to spend. Faster GDP growth…
Business Daily

Rich Kenyans sit on Sh922bn in dollars as shilling weakens

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Wealthy Kenyans and firms had piled up a record Sh922 billion in dollars by last November as they sought to preserve the value of their bank deposits amid a depreciating shilling. This is after they accumulated an extra Sh119.24 billion…
Telecom paper

Safaricom to Lose Sh2bn in Call Tariff Cut

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Safaricom projects to lose Sh2 billion in the financial year ending March 2023 after the Communications Authority of Kenya (CA) cut mobile termination rates (MTR) by 41.4 percent. MTRs are the charges levied by a mobile service provider…