In a strategic move to address potential challenges in its foreign exchange reserves, Kenya’s National Treasury has appointed Citi and Standard Bank as joint lead managers. Their mandate is to explore options for international US$ capital markets funding and liability management for Kenya. With the looming pressure on foreign exchange reserves in 2024 due to […]

The Nairobi Securities Exchange PLC (NSE) has granted approval for the listing of Linzi Sukuk on its Unquoted Securities Platform (USP), marking a historic milestone as the first Shari’ah-compliant product admitted to the platform. The Linzi Sukuk now joins the ranks of three admitted securities on the USP. Issued by Linzi FinCo Trust, a common […]

The Nairobi Securities Exchange (NSE) witnessed a historic surge in the prices of gold exchange-traded funds (ETFs), with the Absa New Gold ETF unit price reaching an all-time high of Sh2,840. This remarkable escalation is attributed to the emergence of new geopolitical tensions on the global stage. In a remarkable climb, the Absa New Gold […]

Despite the prevailing downturn in equities, stocks with valuations below Sh4 billion on the Nairobi Securities Exchange (NSE) have emerged as the leaders in generating returns for investors in 2023. Out of the 24 firms that have seen their stock values rise since the beginning of the year, 15 are smaller companies, with notable mentions […]

A notable financial trend is rapidly taking root in Kenya, with new research revealing that over 50 percent of the population now turns to debt to cover their daily financial needs. The study, conducted by Consumer Insight, highlights that an increasing number of Kenyans are relying on digital lenders, marking a significant shift in financial […]

In a move to bolster lending support to small and medium enterprises (SMEs), Absa Bank Kenya has unveiled a groundbreaking unsecured working capital loan platform. The new platform, aptly named Wezesha Stock, aims to empower distributors, wholesalers, and retailers in the fast-moving consumer goods sector by providing them with easy access to short-term funding for […]

In a recent development, the Treasury is grappling with medium to long-term refinancing challenges due to the shrinking maturity times of its bonds, with a concerted effort to avoid the issuance of long-dated securities. This shift has raised concerns about higher principal repayments to investors over a shorter timeframe. The Central Bank of Kenya (CBK) […]

Tensions have mounted between investors and the Kenyan government as the recent sale of the October Treasury bond fell significantly short of expectations. The government aimed to raise Sh35 billion but only managed to secure Sh6.3 billion, representing less than 20 percent of the target. Investors appear to be seeking higher returns and more attractive […]

GenAfrica Asset Manager has surged ahead of the National Social Security Fund (NSSF) in portfolio size, marking a historic shift in the financial landscape. This development, as per data from the Retirement Benefits Authority (RBA), is the first time a private fund manager has outpaced the state-owned NSSF in nearly seven years. As of the […]

The Kenyan fixed-income market, a crucial component of the capital market, faced a challenging year in 2022, despite some notable positive developments. The Central Bank of Kenya’s Financial Sector Report for September 2023 highlights the dynamics within the fixed income segment, which remained subdued as various factors impacted its performance. One of the noteworthy positive […]