East African Breweries Ltd., Kenya’s best-performing stock over the past month, is poised to end a 29 percent rally that valued the nation’s biggest company at double that of the benchmark index, according to Contrarian Investing Kenya Ltd. and technical indicators.
National Bank of Kenya Ltd. will raise as much as 10 billion shillings ($119 million) in a rights offer to fund an expansion plan as it seeks to quadruple revenue by 2017, Managing Director Munir Sheikh Ahmed said.
NIC Bank Ltd., Kenya’s best- performing banking stock over the past 12 months, named Alan Dodd as its acting managing director to replace James Macharia, who has been appointed as the country’s health minister.
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.
Al-Shabaab, Somalia’s al-Qaeda linked militant group, have gone into hiding to carry out guerrilla attacks after losing territory they held as a more conventional force, Somali President Hassan Sheikh Mohamoud said.