Kenya’s stock market recently experienced a significant downturn, ranking as the worst-performing globally. As of November 10, 2023, the Nairobi Securities Exchange 20-share index plummeted to 1420 from 1509 on September 29, 2023—a substantial 6% decline in just six weeks. This decline is alarming, considering the market had previously surpassed the 5000 mark in better…
In November 2023, Kenya’s private sector found itself grappling with substantial inflationary pressures, as indicated by the Stanbic Purchasing Managers’ Index (PMI). These pressures stemmed primarily from the relentless surge in fuel prices and the persisting fragility of the local currency. The report underscored that input costs soared at an unprecedented pace, marking the most…
The investment landscape in Kenya is currently grappling with significant hurdles as a result of prevailing macroeconomic conditions. These conditions have raised apprehension across various investment sectors. This article sheds light on the pivotal macroeconomic factors that are shaping the investment environment within the country. Kenyan Currency Depreciation and Inflation Over the preceding year, the…
In the fiscal year ending in June 2023, NCBA Bank Kenya significantly bolstered Grit Real Estate’s financial capabilities by extending an additional $6.8 million (KES 1.0 billion) in credit to the esteemed Mauritian real estate firm. Rising Dollar-Denominated Credit Facilities Underlining its commitment to fostering financial growth, NCBA Bank Kenya has raised the bar, as…
The recent acquisition of 51 percent of the shareholding of SMEP Microfinance Bank PLC (SMEP MFB) by HOPE Advancement Inc. (HOPE) has sparked considerable interest and discussion within the financial sector. The Central Bank of Kenya (CBK) has officially confirmed this development, signifying a pivotal shift in the landscape of microfinance in the region. Let’s…
1.0 Commercial Banks’ Credit Officer Survey The latest survey by the Central Bank of Kenya (CBK) aimed to gauge the lending behavior within the banking sector across all eleven economic sectors. Queries revolved around credit demands, loan approval standards, non-performing loans, credit recovery efforts, and the implementation of International Financial Reporting Standards (IFRS) 9 on…
In a groundbreaking development, Kenya and several other African nations have successfully secured climate-related financing deals, amounting to a staggering $23 billion (Sh3.36 trillion), during the inaugural climate summit held in Nairobi. These substantial investments are set to bolster Africa’s green initiatives significantly. President William Ruto expressed his satisfaction with the three-day Africa Climate Summit,…
In the ever-evolving landscape of financial markets, Equity Group, under the astute leadership of Managing Director and CEO Dr. James Mwangi, has unveiled a strategic move that distinguishes it from its peers in Kenya’s banking sector. Amidst the transition to a comprehensive risk-based pricing system, Equity Bank has taken a unique stance by preserving the…
