The Capital Markets Authority (CMA) is shaking things up in Kenya’s financial sector with proposed new regulations that raise the bar for market intermediaries. This move, aimed at boosting investor confidence and revamping the market as a whole, requires these intermediaries to hold a higher minimum amount of readily available cash and liquid assets. Investment […]

Investors are on the move as bank share prices experience a notable uptick on the Nairobi Securities Exchange (NSE). The surge in demand is primarily driven by expectations of higher dividends from leading lenders for the fiscal year ending December 2023. Since March 5, when Stanbic Holdings announced a 21.8 percent increase in dividends for […]

AA Kenya, a leading driving school firm, has successfully raised Sh 81 million through a recent cash call, falling short of the target but demonstrating resilience in a challenging economic climate. Despite facing hurdles such as high interest rate hikes by the Central Bank of Kenya, AA Kenya’s board highlighted the significance of the capital […]

The Capital Markets Authority (CMA) has introduced new regulations allowing Kenyan companies to issue bonds in East African countries, expanding their funding opportunities. These regulations, detailed in Kenya’s gazette supplement No 204, aim to enhance financial integration in the region. Under the new rules, local firms can raise capital by issuing bonds in any East […]

Pension funds facing challenges in accurately valuing bond holdings amidst market fluctuations have received a reprieve through recent regulatory adjustments by the Retirement Benefits Authority (RBA). Effective December 21, 2023, the RBA implemented amendments allowing pension schemes to exclude unrealized gains or losses from debt instruments when declaring net returns to members. This move addresses […]

Yields on Kenyan Eurobonds have seen a notable decline, marking a shift in investor sentiment as concerns surrounding the country’s debt obligations ease. The interest rates on various Eurobond issues have dropped into single-digit territory, reflecting a more favorable outlook for Kenyan sovereign assets in global financial markets. This positive trend follows the partial payment […]

Vestas, a leading sustainable energy solutions provider, has announced the sale of its stake in the Lake Turkana Wind Power project (LTWP) in Kenya. The move aligns with Vestas’ strategy of developing wind projects without long-term ownership. LTWP, operational since 2018, supplies about 14% of Kenya’s electricity demand through its 365-turbine complex, making it Africa’s […]

In a testament to the growing demand for bonds, Kenya’s recent Eurobond offering has attracted an impressive response, gathering over $5 billion in subscriptions. According to reports from Bloomberg, Kenya is set to issue $1.5 billion worth of seven-year bonds at a rate of 10.375%, marking the highest coupon payment made by an African issuer […]

In a move signaling a significant shift in the banking landscape, commercial banks have raised the returns offered to cash-rich firms and high-net-worth depositors to double-digit levels, reaching a new 24-year high record. Data released by the Central Bank of Kenya (CBK) indicates that the average commercial bank deposit rate, which represents the yield offered […]

In a notable development, the Central Bank of Kenya (CBK) recently conducted its Weekly Treasury Bills auction, witnessing a significant redemption of KSh 48.5 billion out of KSh 51.1 billion in bids received. The CBK accepted KSh 48.8 billion at this auction, marking a substantial movement in the market. This surge in redemptions, according to […]