Kenya’s financial markets faced a turbulent Monday as Fitch Ratings downgraded the country’s credit score further into junk territory due to mounting budget risks. This latest downgrade has intensified concerns about Kenya’s financial health and its capacity to manage its growing debt effectively. Kenya’s 2048 dollar bonds were among the hardest hit, with prices dropping […]
In a significant boost for Kenya’s mining industry, the long-anticipated construction of an iron ore smelting plant in Voi, Taita Taveta County, is officially underway. This exciting development follows the recent handover of land to the investor, marking the beginning of a major project that promises to reshape the local economy and the country’s mineral […]
In a significant move to enhance its presence in East Africa, Egyptian lender Commercial International Bank (CIB) has inaugurated its seventh branch in Kenya. This new branch, located in Mombasa, is part of CIB’s strategic plan to leverage the robust trade links between Kenya and Egypt and further expand its operations across the region. This […]
In a historic and groundbreaking move, the Nairobi Securities Exchange (NSE) has officially welcomed the Linzi Sukuk bond into its unquoted securities platform. This momentous event, graced by the presence of President William Ruto at the Exchange building, marks the listing of the first Islamic and Sharia-compliant financial asset on the NSE. It’s a bold […]
In an impressive turn of events, Centum Investment has announced a remarkable profit of KSh556 million for the year ending March 31, 2024. This represents a dramatic turnaround from a loss of KSh61 million in the previous year, showcasing the company’s successful strategic pivot and resilient financial management in a challenging economic landscape. A Triumphant […]
In a significant boost to Kenya’s automotive industry and its green energy initiatives, Chinese electric vehicle (EV) manufacturer Chery is set to invest $20 million in local auto dealer Afrigreen Automobile to establish an EV assembly plant in Nairobi. This strategic move is poised to create around 3,000 direct and indirect jobs, marking a substantial […]
In a bid to quell the swirling rumors and growing public concern, President William Ruto has come forward to categorically dismiss claims that the government intends to sell Jomo Kenyatta International Airport (JKIA) to private investors. Speaking during a national address at State House on July 24, 2024, Ruto clarified that Kenya is looking to […]
A Megaproject with Far-Reaching Implications The proposed $1.85 billion investment by Adani Airport Holdings Limited to expand Jomo Kenyatta International Airport (JKIA) marks a pivotal moment for Kenya’s aviation sector. This ambitious project, envisioned as a 30-year public-private partnership (PPP), promises to transform JKIA into a world-class aviation hub, capable of handling increased passenger traffic […]
Meta Tag: The Central Bank of Kenya’s Hustler Bonds platform offers retail investors access to government securities with an entry point of $5, revolutionizing Kenya’s investment scene. The Central Bank of Kenya (CBK) is making waves with its latest financial innovation, the Hustler Bonds. This new platform is designed to revolutionize the investment scene in […]
Faulu Bank, a prominent player in Kenya’s microfinance sector, is set to revolutionize the investment landscape with its new Money Market Fund (MMF). This ambitious initiative aims to open the doors to high-yield investment opportunities for everyday Kenyans, potentially transforming the way they save and invest. With a striking initial yield of 16.32% per annum […]
As Kenya’s Sh301 billion International Monetary Fund (IMF) programme nears expiration in April, the Kenya Kwanza government is actively exploring...
In a significant monetary policy shift, the Reserve Bank of India (RBI) has cut its key repo rate for the...
The Reserve Bank of Zimbabwe (RBZ) has opted to maintain its key interest rate at 35%, signaling a commitment to...
In a groundbreaking move set to transform Kenya’s transportation infrastructure, American asset management firm Everstrong Capital has partnered with CPF...