Unlocking Investment Opportunities: Standard Chartered Bank Kenya’s Offshore Unit Trust Funds
Standard Chartered Bank Kenya has introduced an exciting opportunity for Kenyan investors to explore offshore…
CBK Aims to Raise KSh50 Billion Through Infrastructure Bonds in August Auction
The Central Bank of Kenya (CBK) plans to raise KSh50 billion in August through a tap sale of reopened infrastructure bonds. These bonds, initially issued in 2023, are 6.5-year and 17-year terms with remaining maturities of 5.8 years and 15.7 years, respectively. They offer tax-free returns, with coupon rates of 17.93% for the 6.5-year bond…
Proposed Kenya’s New Livestock Bill Imposes Heavy Fines on Unregistered Farmers
The proposed Livestock Bill 2024, introduced by Kikuyu legislator Kimani Ichung’wa, seeks to overhaul the livestock industry in Kenya. The bill mandates the creation of a new Authority responsible for regulating all forms of livestock, including cattle, pigs, poultry, bees, sheep, goats, and camels. Key Provisions of the Bill Implications and Challenges While the bill…
CBK’s Higher Capital Limits Put 25 Banks on Edge
The Central Bank of Kenya (CBK) plans to increase the minimum capital requirement for banks from KSh 1 billion to KSh 10 billion. This aims to strengthen the resilience of the banking sector and encourage mergers and acquisitions. Banks will have three years to meet the new requirement. The change is intended to fortify the…
Kenya’s Real Estate on Blockchain: OwnMali Joins CMA Kenya Regulatory Sandbox
The Capital Markets Authority of Kenya (CMA Kenya) has recently welcomed Infiniti n Beyond Limited into its Regulatory Sandbox to trial OwnMali, a pioneering blockchain-powered real estate tokenization platform. This move marks a significant step in integrating blockchain technology into the Kenyan real estate sector. What is OwnMali? OwnMali aims to democratize property ownership by…
Old Mutual and Absa Bank Introduces Comprehensive Insurance for SMEs
Old Mutual Kenya has partnered with Absa Bank Kenya to launch Linda Biz, a comprehensive insurance product designed specifically for small and medium-sized enterprises (SMEs). This product aims to mitigate various risks that SMEs face, enhancing their sustainability and growth potential. Core Features of Linda Biz Linda Biz offers a range of insurance covers, including:…
Amsons Group’s Bold KShs 23.59 Billion Bid to Delist Bamburi Cement from NSE
Amsons Industries, part of Tanzanian Amsons Group, plans to delist Bamburi Cement from the Nairobi Securities Exchange (NSE) after securing at least 75% acceptance for its KShs 23.59 billion buyout offer. This offer values Bamburi Cement at KShs 65 per share, a 44% premium from its June 9th closing price. Holcim, Bamburi’s majority shareholder, supports…
Kenyan Microfinance Banks Report KSh 2.4 Billion Pre-Tax Loss in 2023 Because of Rising Expenses and Stiff Competition
Kenya’s microfinance banks (MFBs) are grappling with substantial financial setbacks, recording a loss of KSh 2.4 billion before tax by December 2023, a sharp increase from KSh 980 million in the previous year. This rise in losses signals serious difficulties in the sector, influenced by several critical factors. Key Factors Behind the Losses Major Contributors…
Moody’s Downgrades Kenya’s Credit Rating After Finance Bill 2024 Collapse
Moody’s Downgrade: A Wake-Up Call for Kenya Moody’s Investors Service downgraded Kenya’s credit rating from B3 to Caa1 after the Finance Bill 2024 failed to pass. This bill aimed to increase government revenue but was abandoned due to public opposition and concerns about its economic impact. As a result, Kenya’s fiscal deficit is projected to…
