In the upcoming January 2024 Treasury bond sale, investors are preparing for a formidable challenge as interest rates are predicted to surge beyond the 18 percent mark. This projection stems from thorough analyses by reputable investment banks, including Genghis Capital, Sterling Capital, and AIB-AXYS Africa. The bond offering consists of a new three-year bond and […]

In response to a challenging fiscal landscape, Kenya’s National Treasury has revised its borrowing strategy for the 2023/24 fiscal year. The move, announced today, reflects a pragmatic response to lower-than-expected tax collection and a downward revision of ordinary revenue forecasts. Originally targeting Sh718.9 billion in borrowing, the Treasury has now increased its goal by Sh168 […]

Recent data from the Central Bank of Kenya (CBK) reveals a substantial uptick in the interbank lending rate, reaching a near five-month high as the CBK enforces a more robust monetary policy. The mean lending rate between banks stood at 14.3 percent on January 2, 2024, representing the highest level since August 7 and at […]

In a strategic move to bolster the stability and resilience of Kenya’s financial sector, the National Treasury is actively considering a revision of commercial banks’ core capital requirements. The current minimum threshold, set at Sh1 billion since 2012, is under scrutiny, signaling potential consolidation activities among smaller lenders. Outlined in the 2024 draft Budget Policy […]

In response to the looming threat of maize lethal necrosis disease, Malawi has taken a strategic step by temporarily banning the import of unmilled maize from its key suppliers, Kenya and Tanzania. The Ministry of Agriculture issued a comprehensive statement, underlining the gravity of the situation. The disease, with no known treatment, poses a serious […]

The Hustler Fund, a cornerstone initiative aimed at supporting micro, small, and medium enterprises (MSMEs), is grappling with a significant hurdle as loan defaults by Kenyan borrowers reach a critical Sh9.9 billion. Launched with optimism by President William Ruto and Prime Cabinet Secretary Musalia Mudavadi at the Green Park Terminus in Nairobi last year, the […]

In a significant development, Saccos have achieved a major milestone by crossing the Sh1 trillion mark in member deposits. Despite economic challenges prompting some withdrawals for immediate needs, the State Department of Cooperatives reports a robust 15.6 percent surge in savings, reaching Sh1.047 trillion in the year to June 2023 from Sh906 billion. This remarkable […]

In response to unexpected fiscal challenges arising from lower-than-anticipated tax collections, Kenya’s National Treasury has revised its domestic borrowing target for the current financial year. This adjustment comes as the government grapples with the complexities of President William Ruto’s ambitious first full-year budget of nearly Sh3.9 trillion. The latest figures reported in the Kenya Gazette […]

Latest Treasury bills auction unfolded with a remarkable uptick in investor interest, propelling one-year T-bill rates beyond the 16% mark, a significant leap from the previous week’s 15.79%. This surge was a direct response to the Central Bank of Kenya’s (CBK) strategic decision to raise its base lending rate by two percentage points during the […]

In a strategic move to bolster Kenya’s economic vitality, the World Bank has given the nod to the Kenya Jobs and Economic Transformation Project (KJET), earmarking a substantial Sh23 billion to empower the micro, small, and medium enterprises (MSMEs) sector. With a keen eye on job creation, increased private sector investments, and enhanced market access, […]