NIC Securities October Stock Picks.
CIC INSURANCE BUY Current price KES 11.30 Strong growth momentum maintained with a 1H14 PBT growth of 67% underpinned by a 26% increase in gross written premiums.
Opportunities for growth given low penetration of insurance in the country.
Diversification into more stable income streams in real estate. Plans to construct a high-end residential estate on a 200 acre land in Kiambu.
Regional expansion drive with plans in the pipeline for operations in South Sudan, Uganda and Malawi
Recently issued a KES 5bn with funds to be deployed in real estate, regional expansion and a medical project
Pesa Nane plans to be shilingi when he grows up.