British Investors Reap $220 Mln From Nairobi Bourse In 2013

Written by Kevin Mwanza

Apr 03, 2014

Written by Niyi Aderibigbe | From Ventures Africa

British firms have justified their investments in Kenya by raking in mega earnings in the year ending 2013, with investors holding significant stakes in Nairobi Securities Exchange (NSE) -listed companies earning a total of Sh19.2 billion ($222 million) in dividends and fees.

Vodafone, Diageo, BAT, Barclays and Standard Chartered lead the pack of gainers.

British multinational telecommunications company, Vodafone Group, who has the largest stake (40 percent) in local telecoms giants Safaricom, made a total of Sh7.3 billion ($85 million) in M-Pesa royalty fees and dividends.

London-based bank, Standard Chartered Plc made Sh3.3 billion ($38 million) from its Kenyan unit, StanChart Kenya, where it holds a 73.89 percent stake.

London Stock Exchange-listed Barclays Bank Plc will rake in Sh2.6 billion ($30 million) from its Kenyan subsidiary for the period under review. The lender has a majority stake of 68.5 percent in Barclays Bank of Kenya.

British American Tobacco Plc posted Sh2.2 billion ($26 million) earnings in dividends from BAT Kenya where it has a 60 percent stake.