This archive report was first published on 8 December 2019.
Kenyan companies listed on the Dar es Salaam Stock Exchange (DSE) are facing an unpredictable market, with mixed results reported by cross-listed firms.
While Kenya Airways and Uchumi Supermarkets Ltd are struggling to attract buyers, KCB Group, East African Breweries Ltd (EABL), and Jubilee Holdings are gaining interest.
Kenya Airways' shares have been trading at their lowest price since listing 15 years ago, with a closing price of Tsh50 ($0.022) on the week. The airline's shares had previously dropped in value to Tsh75 ($0.033) by May 24, following the announcement of the departure of chief executive and group managing director Sebastian Mikosz by the end of the year.
On the other hand, KCB Group's shares have been growing in value, with a closing price of Tsh1,150 ($0.50) on Friday. The company's market capitalisation on the DSE has risen from Tsh2.6 trillion ($1.15 billion) in December 2018 to Tsh3.4 trillion ($1.5 billion) currently.
Despite a recent report predicting possible 'headwinds that may arise largely from economic policy uncertainty with stunted private sector growth', KCB's Tanzanian branch management, KCB's shares have maintained a strong presence on the DSE floor.
East African Breweries Ltd (EABL) has also had a tough year on the Dar bourse, but its share price was holding steady at Tsh4,400 ($1.92) on Friday, up from Tsh3,920 ($1.71) in January.
Jubilee Holdings has maintained a strong presence on the DSE floor, with a share price of Tsh7,850 ($3.42) by close of business on Friday, despite taking a beating over the course of the year.
