What to Expect from the NMG Buyback, KenGen’s Decline, Bank of Kigali’s Stellar Performance and China’s Crypto Crackdown

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In this episode, the Hisa team shares deatsila on the NMG Share Buyback Plan, the terms, and what investors can expect. We also talk about KenGen’s decline in light of the announcement of beginning of the Djibouti power project in June and the Kenya power debt, and the impressive performance by the Bank of Kigali in Q1.
Highlights.
  • NMG’s buyback is pegged at Ksh 25 per ordinary share, with plans to purchase the shares through an open market, subject to shareholder approval.
  • Repurchased shares, which is 10% of the total shares, will be classified as tertiary stocks and will therefore have no voting rights.
  • Safaricom was still the top perfomer at 52.09% of the week’s traded value.
  • Kengen announced the begininng of the Djibouti power project in June . However, its share still dipped in the week. While the company has various projects outside the country, the returns from Ethiopia and Djibouti are a pale comparison to the Kenya Power debt, and the perfomance of Kenya Power, which weighs on its counter.

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