Sub-Saharan Africa Stocks: Pan Africa Insurance of Kenya, Sasini

Kenya’s All-Share Index (NSEASI) jumped 1 percent to 55.45 as of 1:46 p.m. in Nairobi, heading for the highest close since Jan. 12.

The Nigerian Stock Exchange All-Share Index (NGSEINDX) advanced for a third day, gaining 0.3 percent to 20,504.19 as of 11:47 a.m. in Lagos, according to data compiled by Bloomberg. The FTSE/Namibia Overall Index (FTN098) climbed 0.1 percent to 919.79 as of 12:48 p.m. in Windhoek. The Mauritius SEMDEX Index fell 0.4 percent to 1,816.23 at the close.

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

Pan Africa Insurance Holdings Ltd. (PAIL) , the Kenyan unit of South Africa’s Sanlam Ltd. gained 2.5 percent to 20.25 shillings, poised for its strongest close since Jan. 23, after it proposed a dividend of 2 shillings per share.

Sasini Ltd. (STCL) , a Kenyan tea and coffee grower, rose for a third straight day, its longest winning streak since Sept. 20, increasing 2.3 percent to 11.1 shillings, as leaf prices are seen to be increasing.

Tea prices in Kenya, the world’s biggest exporter of black tea, are set to rise as frost and drought in the main growing areas have cut production by as much as half, the Africa Tea Brokers said yesterday.

To contact the reporter on this story: Chris Kay in Abuja at ckay5@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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