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Big 5 buys for August

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24th of August 2008
Julius Berger, Celtel Zambia, Safaricom, Access Kenya and First Bank are among the top 5 picks for the month of August . First Bank has grown its gross earnings 64.69 percent from N79.3 billion in 2007 to N130.6 billion in 2008. First bank has become notorius for its handsome dividend and bonus payments to investors. Its most recent share bonus of 4 for 1 with an additional N1.2K per share has been unprecedented. First Bank remains one of the most solid blue chips and ranks among the highest capitalised banks in Africa . The current price of N28 will certainly attract significant foreign capital looking for shelter away from the scourge of the Western credit crunch. Julius Berger is one counter AVI had rated  very highly 6 months ago and has certainly delivered to expectation. In August 08 JB delivered a healthy dividend and a share appreciation of at up 80% since January 2008. The bonus of 3 for 1 provided an icing for its investors. Julius Berger remains a profitable medium to long term investment vehicle. These two equities delivered impressive results despite the slump in the equity market in the past two months which was mainly caused by clumsy policy interventions by the Central bank. Access

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