Kenya business expectations recover; KCB shares down 5%
Stanbic Bank Kenya PMI showed a near recovery to business conditions; KCB shares down 5% after closing books for interim and special dividends
PWBy: Ian
IN BRIEF:
- Stanbic Bank Kenya PMI showed a near recovery to business conditions.
- KCB shares down 5% after closing books for interim and special dividends.
- African Originals report Sh10.3m profit.
- African Originals report Sh10.3m profitAfrican Originals Limited, the parent of Savannah Beverages - the makers of Kenyan Originals beverage, have reported a profit of Sh10.3m for the year ended 31 December 2024 according to latest filings by the company. This is an improvement in performance compared to the Sh35m loss they reported during the same period in 2023.African Originals raised Sh260m in Series A funding round last year led by Phoenix Beverages Limited, who are the top shareholders owning 34.9% stake in the company.Bloomberg reported in April that African Originals is looking to raise more funds to fund expansion to meet growing demand of its products. The company entered Uganda earlier this year.
- KCB Group shares down 5% in early tradingKCB Group share price has dropped Sh2.75, or 5.1%, to Sh51 in early trading today. This is after closing its books for the interim dividend(Sh2.00) and special dividend(Sh2.00).The dividend is payable on or about 11th November 2025.
- Kenya business confidence rises to 30-month highThe Stanbic Bank Kenya headline PMI released yesterday showed near recovery to business conditions across the private sector in August, after July data pointed to a slump in business activity due to weak sales and protest-led disruption.The headline PMI from Stanbic Bank Kenya increased from 46.8 in July to 49.4 in August. This means that the private sector is contracting but at a much slower rate, after a 12-month low in July.
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