Best and worst performing stocks in Kenya: BY BUSINESS DAILY: The top 10 worst performing stocks in 2018 shed at least half of their value at the market.

The worst performing stock was Deacons East Africa, whose value has nearly been wiped out at -87.1 per cent.

Financial difficulties have forced the fashion retailer to go into administration, and subsequently the stock has been suspended from trading at the NSE with a last trading price of just 45 cents. It had opened the year at Sh. 3.50.

Kenya Orchards shed 85.6 per cent, going down from Sh. 97 a share in January to Sh. 14 on December 21. The stock fell victim to a little known rule in the NSE on September 18, which states that companies lose their daily price movement protection of 10 per cent if they have not traded for three continuous months.

Uchumi, which has been beset by financial problems that have seen it delay reporting its financial results for the year ending June 2018 by seven months, has shed 83.7 per cent of its value, dropping to 75 cents from Sh. 4.60 in January.

Other significant losers include Nairobi Business Ventures (-65.7 per cent to Sh. 1.15) and Kenya Power (-62.6 per cent to Sh. 3.40).

Kenya power has been beset by corporate governance troubles, with two of its former CEOs and other top management staff in court on corruption charges.

Eveready East Africa, East Africa Cables, ARM Cement, Kenya Airways and Home Afrika round off the rest of the top 10 losers list, with share price declines of 57.8, 57.3, 55.4 and 51.9 per cent respectively in 2018. ARM is currently suspended from trading after falling into administration.


On the gainers list, firms that have been the subject of takeover bids top in share price appreciation.

Express Kenya, whose chief executive Hector Diniz lodged an unsuccessful takeover bid earlier this year, leads with a gain of 48 per cent, from Sh. 3.75 to Sh. 5.55 a share.

The bid failed after he was unable to garner support of shareholders holding a minimum combined stake of 75 per cent.

KenolKobil is second with a gain of 40 per cent to Sh. 19.60. the oil marketer is currently the subject of a takeover bid by French firm Rubis Energie, which has offered existing shareholders Sh. 23 a share for their stake.

Unga Group, which like Express was the subject of a failed bid by US conglomerate Seaboard Corporation—which is a shareholder in the firm— has gained 35.5 per cent this year to Sh. 39.30, mostly due to the price rally during the offer period.

The only other companies with a positive movement in price this year are Barclays Kenya, up 16.1 per cent to Sh. 11.90, Total Kenya at 13.8 per cent to Sh. 26.75, Kapchorua Tea at 13 per cent to Sh. 74 and Stanbic Holdings at 9.3 per cent to Sh. 88.50.

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