A study conducted by Enwealth Financial Services in collaboration with Strathmore University and released in 2022 has shed light on the saving habits and financial literacy levels of Kenyans. The study indicates that despite a commendable 82% of Kenyans surveyed attempting to save money, only a mere 12% of respondents have successfully established a sustainable […]
The Nairobi Coffee Exchange (NCE) is gearing up to reopen its trading operations after a prolonged halt that began on July 6. The suspension, attributed to the government’s decision to overhaul coffee brokerage and licenses, has stirred confusion within the industry, impacting trade dynamics. Key industry players have pointed to the government’s reforms as the […]
In a move that holds implications for the financial landscape, the Central Bank of the country (CBK) has presented enticing rates of return to bidders in its latest auction. The auction, which featured Treasury Bills with durations of 91 days, 182 days, and 364 days, concluded with successful bidders securing rates of 13.1104%, 13.4381%, and […]
Nairobi, Kenya – The telecommunications landscape in Kenya has been experiencing remarkable growth in recent years, and this trend is projected to continue well into the foreseeable future until 2025. The expansion of the industry can be attributed primarily to the burgeoning urban population’s increasing adoption of mobile phones compatible with 3G, 4G, and 5G […]
Pension funds operate with the primary goal of providing employees with either a lump-sum payment or a consistent income stream during their retirement years. In Kenya, where the average retirement age is approximately 60 and life expectancy at birth is 67, pension funds play a pivotal role. Recent data from 2022 indicates that the Pension […]
Moody’s Credit Rating Agency’s assertion that Kenya’s planned buyback of its Eurobond debt constitutes a default has been criticized by the African Credit Rating Research & Advisory, an entity under the African Union. The African Peer Review Mechanism (APRM), in a statement, disputes Moody’s claims and highlights the “voluntary” nature of the bond buyback initiative, […]
In the recently disclosed data of May 2023 by CBK, the proportion of Non-Performing Loans (NPLs) to the total loans in Kenyan banks is observed to be approximately 15%. In response to this growing issue of bad loans, banks have found themselves necessitated to place various companies under receivership. One notable example is KCB Bank, […]
Acorn, a prominent property developer, is embarking on a drive to secure Sh1.5 billion in funding by January 2024. This initiative aims to facilitate the expansion of its student hostel portfolio through contributions from current unit holders of its development Real Estate Investment Trust (Reit). The latest semi-annual report from Acorn Student Accommodation (ASA) D-Reit […]
In a notable move, the Kenyan government has taken decisive action by suspending all activities linked to the cryptocurrency endeavor known as Worldcoin within its national borders. This suspension arises in direct response to a significant data breach and the escalating worries regarding individual privacy. Interior Cabinet Secretary Kithure Kindiki has voiced the government’s profound […]
In a strategic move, the Central Bank of Kenya (CBK) has unveiled plans to generate KSh 40 billion through its forthcoming Treasury Bonds (T-Bonds) tap sale scheduled for August. The CBK, cognizant of the financial landscape, intends to reinforce its financial reserves for crucial budgetary requirements. The importance of this initiative is underscored by its […]
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...