1st. Nov. 2024 NAIROBI — The Nairobi Securities Exchange (NSE) saw a remarkable resurgence in 2024, adding nearly KSh 420 billion in investor wealth by October. This upsurge signals renewed local investor confidence amid a challenging economic backdrop. The market’s capitalization surged by 29.2%, lifted primarily by robust performances in the energy and banking sectors….
Tether, the leading stablecoin issuer, has announced a groundbreaking profit of $5.2 billion in the first half of 2024. This milestone highlights Tether’s robust financial strategy and its expanding role in global markets. Key Financial HighlightsIn the second quarter alone, Tether’s net operating profit surged to $1.3 billion, a significant increase from the $1 billion…
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…
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…
The Kenyan shilling has made significant gains against the US dollar this year, appreciating by 17.8% from January to June. This growth reflects a combination of favorable market conditions, increased foreign exchange inflows, and investor confidence. Weekly Performance and Key Drivers In the past week, the shilling strengthened by 1.06%, closing at 128.66 from the…
