Fitch Says Kenya’s COVID-19 Measures Will Lead to Faster Increase in Debt

Fitch expects Kenya’s general government debt to continue rising through FY22 to reach about 70% of GDP. This is higher than our pre-coronavirus forecasts, which saw debt peaking at 65% of GDP. As domestic Treasury auctions are typically undersold, much of the increased borrowing in FY21 and FY22 will have to come from external sources, leading to an increase in Kenya’s external debt, which is already high compared with ‘B’ rated peers.

International Monetary Fund: World Economy to will Be Weakest Since 2008 Financial Crisis

The International Monetary Fund is further downgrading its outlook for the world economy, predicting that growth this year will be the weakest since the 2008 financial crisis primarily because of widening global conflicts. The IMF’s latest World Economic Outlook foresees a slight rebound in 2020 but warns of threats ranging from heightened political tensions in …

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NSE’s Upgraded System to go live on Monday.

The new Active Trader System of the Nairobi Securities Exchange is set to go live next Monday 14 October, 2019 bringing an end to a long wait for system change by traders and participants in the Equities Market Space. This comes in the week of user data migration by the Central Depository & Settlement Corporation …

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CDSC to suspend some services for a week as systems upgrade now complete.

The Central Depository & Settlement Corporation will suspend most of its services for one week starting Monday 7th to Friday 11th October,2019 as it completes the transfer of user data from the oracle based system to a new vendor. Services to be suspended include new user account creation and client account data update services. During …

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Merged NIC & CBA Unit to start operations on 1st October as NCBA.

The Merged Unit of NIC Group Plc and Commercial Bank of Africa Group will be operational as from October 1,2019. The two units will be operating under a Non-Holding entity as NCBA. This has been announced by Central Bank of Kenya today notifying investors & customers of the two Banks that have been operating as …

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Equity Group DRC

Equity Group announces a total $1.6Billion DRC investment commitments by 26 Kenyan Companies

26 Kenyan companies have committed trade investments worth $1.6Billion in the Democratic Republic of Congo. The 26 traders are part of the Kenya delegation that participated in last year’s Kenya-DRC Trade Mission organized by the Government of Kenya and the Government of the Democratic Republic of Congo (DRC) in partnership with Equity Group. Some of …

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World Bank Kenya

Kenya Gets Kes 85.5 Billion From World Bank for Post-Covid Growth

Kenya has secured Kshs. 85.5 billion from the World Bank in what the lender says will help support the country’s post-pandemic economic transformation. The low-cost Development Policy Operation will fund fiscal and debt reforms to make spending more transparent and efficient, and enhance domestic debt market performance. World Bank Country Director for Kenya Keith Hansen …

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KCB Group CEO Oigara

KCB GROUP PLC POSTS KSHS.34.2B IN FULL-YEAR 2021 PROFIT AFTER TAX

Growth in total income and reduction in loan loss provision charge pushed performance by 74% in steady post-COVID-19 recovery KCB Group Plc recorded a historic 74% rise in profit after tax for the full year ending December 2021, riding on an economic recovery across markets.   Net profit grew to KShs.34.2 billion compared to KShs.19.6 …

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Wall Street

Wall Street Lower on Fears of Aggressive Fed Rate Hikes

Wall Street ended sharply lower on Thursday after U.S. consumer prices data came in hotter than expected and subsequent comments from a Federal Reserve official raised fears the U.S. central bank will hike rates aggressively to fight inflation. U.S. Labor Department data showed consumer prices surged 7.5% last month on a year-over-year basis, topping economists’ …

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Financial Independence Through Passive Income

Achieving Financial Independence Through Passive Income

Financial independence is when you have enough income to cater for your living expenses without working. One of the routes to financial independence is through passive income, where you make money with very little time and effort by either engaging in activities or investments that do not require direct supervision or direct effort. For some …

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NSE Nairobi Securities Exchange

Market Report; February 07, 2022

Trading on the secondary bond market on the Nairobi Securities Exchange (NSE) posted gains, compared to Friday’s trading, with bonds valued at Kes 6.05 billion transacted in 91 deals

NSE Nairobi Securities Exchange

Market Report; February 01, 2022

Car and General Plc saw its shares decline by 8.89% during Tuesday’s trading session on the Nairobi Securities Exchange (NSE). Volumes on the stock however remained low, with only 600 shares traded on the counter.

Market Report; January 26, 2022

Trading on the secondary bond market of the NSE posted an increase in activity, compared to Tuesday’s trading, with bonds valued at Kes 3.48 billion transacted in 98 deals.

NSE Nairobi

Market Report; January 24, 2022

The derivatives market of the NSE saw an increase in activity in today’s trading session compared to Friday’s trading with 19 single stock futures valued at Kes 830,670.

Oil Price

Oil Prices Extend Gain by 0.5% After Jerome Powell Signalled Slower Raise on Rates.

Oil prices climbed on Wednesday, extending big gains in the previous session after the U.S. Federal Reserve chief signalled the central bank may raise rates more slowly than expected, which should support oil demand in the near term. Benchmarks Brent and WTI are trading at their highest levels since the super contagious omicron variant of …

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