Compared to last quarter, the portfolio is down 3% while the NSE 20 share index is down 10% since February 2015.
Bralirwa (Rwanda) ↓
Centum (ICDCI) ↓
Diamond Trust ↓
Kenya Airways ↓
Kenya Oil ↓
Stanbic (Uganda) ↓
In: Equity Bank
Increase: Kenya Airways, Kenol, Mumias
Best performer: Safaricom (up 11% this quarter)
Worst performer: Kenya Airways (down 34%) , Mumias (down -33%)
Looking Forward To:
– Bank profits & dividends from banks (KCB) and Safaricom.
– More M&A deals from Centum after their bond
– Safaricom’s super profits continued, and defied expectations of many, with profits going up 38% to $336 million. The company is crucial to the Kenya government in that will pay almost $600 million in taxes & licences fees this year, plus a Kshs 9 billion ($100 million) dividend that works about to about 10% of the country’s tax revenue!
– A Kenya Airways full year loss expected to be announced this month amid other restructuring, debt, bailout, partnership (is the KLM shareholding good or bad?) discussions. There was a comment from a KQ executive who said that “our profit on each passenger can’t buy a good cup of coffee”.
– Just across the border, in Rwanda, was the IPO of Crystal Telecom, in which 20% of MTN Rwanda was sold to the public and will be listed on the Rwanda stock exchange. The IPO which closed last week, cost a minimum investment of $150, and was open to all East African citizens.