REA Vipingo Plantations Ltd.’s biggest shareholder offered to buy out other stockholders in the Kenyan sisal producer at a 43 percent premium in a deal that may result in the third company this year being delisted in Nairobi.
Safaricom Ltd., Kenya’s biggest company by market value, raised its full-year cashflow forecast by as much as 20 percent as sales from data and mobile money transfers continue to grow faster than revenue from voice.
The deadly attack and hostage crisis at a shopping mall in Kenya this weekend threatens to drag East Africa’s largest economy deeper into the war against al-Qaeda-linked militants in neighboring Somalia.
Prospects for faster growth in Kenya are overshadowing concern that the nation’s worst attack in 15 years will undermine confidence in the economy as the benchmark stock index climbs the most in Africa and the shilling rallies.
Carbacid Investments Ltd., a Kenyan carbon-dioxide maker, gained for the first time in six days as rising output and consumption of soft drinks in East Africa’s drives expectations for higher earnings.
Kenya’s currency is trading at its highest level in 10 weeks and stocks are rallying as investors bet the East African nation will avoid a repeat of the prolonged violence that followed 2007 elections in today’s vote.
Kenya’s shilling headed for its strongest week against the dollar in five months as new tax rules raise the likelihood of higher inflation and after the Federal Reserve maintained stimulus that boosted demand for emerging-market assets.