The Central Bank of Kenya (CBK) recently raised KSh 23 billion during its weekly auction, reflecting a cautious stance among investors. Despite high interest rates, there remains a strong demand for short-term securities, particularly the 91-day Treasury bills, which were oversubscribed. This trend highlights the market’s preference for short-term investments as a hedge against long-term…
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…
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…
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 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…
