Kenya Commercial Bank Ltd., the country’s biggest lender by market value and assets, headed for a record high on speculation it will follow competitors in reporting increased first-quarter earnings today.
Rwanda’s Stock Exchange plans to have its first listing since June 2011 this year with I&M Bank’s local unit, Banque Commerciale du Rwanda Ltd., Capital Market Authority Chief Executive Officer Robert Mathue said.
Kenya’s shilling strengthened against the dollar after President Uhuru Kenyatta pledged to boost businesses and improve infrastructure as he was sworn into office yesterday, capping a peaceful transition of power.
Kenya’s shilling strengthened to the highest in almost seven months as investors brought dollars into East Africa’s biggest economy to buy into a rally on its stock market, according to Kenya Commercial Bank Ltd.
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 Commercial Bank Ltd., the East African nation’s biggest lender by market value and assets, said full-year profit jumped 11 percent, in line with estimates, as expansion offset slower bad-loan recoveries