Eldoret’s recent elevation from a town to a city is more than just a change in designation—it’s a transformative moment with wide-ranging implications for its residents and those looking to invest in the region. This milestone is set to reshape the landscape, bringing opportunities and challenges that will define Eldoret’s future. Why Eldoret’s New Status…
On July 31, 2024, the Nairobi Securities Exchange (NSE) saw a landmark event—the formal listing of the Linzi Sukuk bond. This event, attended by President William Ruto, marked the introduction of the first Islamic and Sharia-compliant financial asset on the bourse. This significant step reflects the commitment to diversifying investment options in Kenya’s financial market….
The proposed Livestock Bill 2024, introduced by Kikuyu legislator Kimani Ichung’wa, seeks to overhaul the livestock industry in Kenya. The bill mandates the creation of a new Authority responsible for regulating all forms of livestock, including cattle, pigs, poultry, bees, sheep, goats, and camels. Key Provisions of the Bill Implications and Challenges While the bill…
The Central Bank of Kenya (CBK) plans to increase the minimum capital requirement for banks from KSh 1 billion to KSh 10 billion. This aims to strengthen the resilience of the banking sector and encourage mergers and acquisitions. Banks will have three years to meet the new requirement. The change is intended to fortify the…
Old Mutual Kenya has partnered with Absa Bank Kenya to launch Linda Biz, a comprehensive insurance product designed specifically for small and medium-sized enterprises (SMEs). This product aims to mitigate various risks that SMEs face, enhancing their sustainability and growth potential. Core Features of Linda Biz Linda Biz offers a range of insurance covers, including:…
Amsons Industries, part of Tanzanian Amsons Group, plans to delist Bamburi Cement from the Nairobi Securities Exchange (NSE) after securing at least 75% acceptance for its KShs 23.59 billion buyout offer. This offer values Bamburi Cement at KShs 65 per share, a 44% premium from its June 9th closing price. Holcim, Bamburi’s majority shareholder, supports…
Kenya’s microfinance banks (MFBs) are grappling with substantial financial setbacks, recording a loss of KSh 2.4 billion before tax by December 2023, a sharp increase from KSh 980 million in the previous year. This rise in losses signals serious difficulties in the sector, influenced by several critical factors. Key Factors Behind the Losses Major Contributors…
Moody’s Downgrade: A Wake-Up Call for Kenya Moody’s Investors Service downgraded Kenya’s credit rating from B3 to Caa1 after the Finance Bill 2024 failed to pass. This bill aimed to increase government revenue but was abandoned due to public opposition and concerns about its economic impact. As a result, Kenya’s fiscal deficit is projected to…
