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 […]

In a significant milestone for the climate tech sector, Kenyan startup Amini has successfully secured funding from prominent investors, including Salesforce Ventures, Female Founders Fund, Pale Blue Dot, and Rally Cap VC. This investment round marks the entry of Rally Cap VC into the climate tech arena, signaling a burgeoning interest in environmentally-focused ventures among […]

ICEA Lion Asset Managers (ILAM) has announced that it will delist its Fahari income real estate investment trust (REIT) from the Nairobi Securities Exchange (NSE) main investment market segment on February 12, 2024. This decision follows the resolution by unit holders to delist and subsequent approval of the delisting by the Capital Markets Authority (CMA). […]

In a strategic move set to revolutionize Kenya’s bond market, the Nairobi Securities Exchange (NSE) has secured approval from the Capital Markets Authority for amendments to its Fixed Income Trading Rules. This pivotal development heralds the establishment of a hybrid fixed-income market, blending onscreen and Over-the-Counter (OTC) trading of fixed-income securities. The NSE’s Chief Executive […]