Bloomberg News

Sub-Sahara Africa Stocks: AccessKenya Group, Mumias Sugar Move

July 09, 2012

Kenya’s All-Share Index (NSEASI) declined for a second day, falling 0.6 percent to 68.46 by the close in Nairobi.

The Nigerian Stock Exchange All-Share Index rose 0.4 percent to 22,191.14 in Lagos, according to data from the exchange’s website. Mauritius’s SEMDEX (SEMDEX) Index fell for a fourth day, declining 0.7 percent to 1,763.07 in Port Louis. The FTSE/Namibia Overall Index (FTN098) gained 0.1 percent to 903.45 in Windhoek.

The following shares rose or fell in sub-Saharan Africa, excluding South Africa. Stock symbols are in parentheses.

AccessKenya Group Ltd. (ACCESS) , the East African nation’s only publicly traded Internet company, climbed the most in a month, rising 5.3 percent to 5 shillings. Investors expect a recovery in first-half earnings after the company said it increased the number of corporate customers this year to 5,000, Eric Musau, a research analyst at Nairobi-based Standard Investment Bank Ltd. said in a phone interview today.

Mumias Sugar Co. (MSUG) , Kenya’s biggest producer of the sweetener, jumped to the highest in more than eight months, climbing 3.9 percent to 6.70 shillings. Investors expect the company will report “modest“ full-year earnings growth and pay a “good dividend”, Faith Atiti, an analyst at Nairobi-based Sterling Investment Bank Ltd., said in a phone interview today.

To contact the reporter on this story: Stephen Gunnion in Johannesburg at

To contact the editor responsible for this story: Gavin Serkin at

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