Raising share prices. Interest Rates Cut. Setting your self up? It’s Monday, and here are the things you need to know to get you up to speed with your personal finance this week.
1.Share Prices
Safaricom and EABL, share price raise in the last week while the NSE 20 Share Index ended at a one percent down. On last weeks announcement of interim dividends by Safaricom and EABL’s announcement of a net profit increase and final dividend payout – the two largest companies by capitalization, were up 5.5 and 11.2 per cent respectively to stand at Sh19.05 and Sh289 during the week.
2. Rate Cut
On interest rates cut, some banks are still charging well over above the industry average of 18.2%. As such, CBK has sought to increase transparency on lending rates by disclosing rates in an effort to encourage borrowers to shift to cheaper banks and hopefully force interest rates down. Banks with the highest interest rates (that is above the 18.2% average) are Barclays and Equity Bank – the others with rates lower than 18.2% among the big banks are Standard Chartered, Co-operative and KCB.
3. Financial Coaching
What is it? And Why is it necessary? Financial coaching is guiding one through a financial journey by taking on a collaborative educational approach that empowers one to achieve financial independence. It is important to note that there is no big secret to building wealth – let no one lie to you with get rich quick schemes. The biggest problem for many is actually getting done the small actions that add up to achieving financial independence. Hence, financial coaching seeks to bridge that gap between knowledge and completing those tasks that add up to financial independence.
4. Covered.co.ke
The go-to database of banking products and financial information ranging from account features, insurance – soon to cover investment products. Covered.co.ke is portal for information, starting with financial advice. Check it out today.
5. Market Highlights
As at July, 29th – this is the market commentary in a snapshot according to SBG Securities
♠ Total value of shares traded declined by 24% to 2.8 billion this week. KenolKobil knocked out EABL from the top four highly traded stocks by value, accounting for 16% of the total value traded over the week.
♠ Fusion Capital’s D-REIT closing date extended to 4th August 2016.
♠ Safaricom reduces roaming rates by up to 99% for over 200 networks across the world.
♠ The Central Bank of Kenya reduces Kenya Bankers Reference Rate by 0.97% to 8.90% while retaining Central Bank Rate at 10.50%.
Number
5
The number of working days of the week and the number of chances you have to work on your daily actions to achieve financial independence.