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David Indeje
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I am a simple and an inquisitive journalist.
I am a simple and an inquisitive journalist.

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#SokoUpdates The Kenyan market closed in the red during Monday’s trading session with all indices beginning the week trending south at the Nairobi Securities Exchange (NSE).

The Nairobi All Share Index (NASI) was down 0.22 percent to close the day at 124.66 points relative to Friday’s 124.93 points. Similarly, the NSE-20 Share and the NSE-25 Share indices shed 0.12 percent and 0.39 percent to rest at 2945.33 and 3236.52 respectively.

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#SokoUpdates A large, 64-kilogram box of tomatoes is currently retailing at an average market price of 4,875 shillings across the country. The highest market price is 6,500 shillings in Kisumu with the lowest price in Imenti where the commodity is being sold at 2,250 shillings.

A 50-kilogram bag of capsicums on the other hand is on average being sold for 2,433 shilling. The prices are as follows in selected towns: 3,200 shillings in Imenti, 3,000 shillings in Nairobi, 2,500 shillings in Nakuru, 2,400 shillings in Kisumu, 2,000 shillings in Eldoret and 1,500 shillings in Mombasa.

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#SokoUpdates The sale of February’s 12-year amortized Infrastructure Bond (IFB 1/2017/12) worth Ksh30 billion closed on Monday.

The funds are geared towards partial funding of infrastructure projects in roads, energy and water sectors which was arrived at due to its tax-exempt appeal and tap into higher foreign inflows.

The bond had an effective tenor of 8.8 years, and a coupon of 12.5 percent.

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#PressPass  In deeply divided societies, the media shape opinions and decisions related to the nature and scope of conflicts, as well as how to constructively handle actual and potential conflict where social/political and economic conflict have degenerated into widespread violence, the role of information in mitigating the effects of violence in presenting alternatives can be crucial.

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Unga Group has announced closure of more than five of its in-store bakeries owned by its subsidiary, Ennsvalley Bakery Ltd. #SokoUpdates 

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#SokoUpdates Unga Group Ltd, in a bid to improve operating margins, has announced closure of more than five of its in-store bakeries.

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#SokoUpdates Plans to Monitor Mobile Phones in Kenya Face Backlash

Kenya’s biggest telecoms operator, Safaricom, a section of the Civil Society is pushing back against regulator’s plan to monitor mobile phones, arguing that it infringes on the privacy of the consumers.

The Communications Authority of Kenya wants to install equipment in the networks of Safaricom, Airtel and Orange Telecom Kenya to allow them tap into their computers with a device to improve its monitoring of counterfeit mobiles.

The tapping process will be carried out by a contracted company by a Lebanese firm, Broadband Communications Limited, that will hook into all Mobile Network Operators and access all the information from voice, data and text messages.

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#SokoUpdates Innovative research released on Friday by The MasterCard Foundation is making the case for a new approach to youth employment training strategies in Africa.

Invisible Lives: Understanding Youth Livelihoods in Ghana and Uganda, released at the Young Africa Works Summit in Kigali, Rwanda, sheds light on the working lives of African youth.

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#SokoUpdates Tea prices edged up 3.39 percent in the latest weekly Mombasa auction from 295 shillings to 305 shillings.

Volume at the auction grew by 357,486 kilograms to 6.352 million kilograms, with 15.43 percent remaining unsold. Data from Tea Directorate however indicates that most factories are operating 40 percent below their installed capacity on account of the ongoing drought. This will have an impact of elevating tea prices in the upcoming auctions.

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#SokoUpdates The Capital Markets Authority (CMA) has granted approval for the listing of the first Exchange Traded Fund (ETF) in Kenya, to be issued by NewGold Issuer (RF) Limited.

NewGold Issuer (RF) Limited, a company incorporated in South Africa. NewGold Issuer (RF) Limited will issue and list 400,000 Gold Bullion Debentures as a secondary listing on the Nairobi Securities Exchange (NSE) main investment market segment.

The value of NewGold ETF tracks the price of gold. The listing price of the ETF will be determined on the listing date based on the real-time cash market values of the gold price and the real-time price of the Kenya Shilling.
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