Author: David Indeje

CBK Raises Ksh 32.1Bn from Re-opened Treasury Bonds Sale, Off Target The Central Bank of Kenya on Wednesday raised Ksh 32.1 billion from selling the re-opened fifteen-year (FXD1/2013/15)  and twenty-year (FXD1/2012/20) Treasury Bonds at a coupon of 11.250% and  12.000% respectively. The target was Ksh 50 billion. Market analysts had expected demand for the papers to exceed the target due to the improved liquidity and continued search for yield by the risk-averse investing public. https://twitter.com/CBKKenya/status/1356945044662591488?s=20 However, Genghis Capital said it was ‘less upbeat of a positive subscription in this week’s auction’. According to Genghis,  the January infrastructure bond issuance played…

Kenyan citizens are being invited by Parliament to submit their memoranda on the concluded Trade Agreement with the United Kingdom. In a public notice issued on Wednesday, National Assembly Clerk Micheal Sialai subjected the economic partnership agreement (EPA) to public participation ahead of its consideration by the House. The matter has been committed to the Departmental Committee on Trade, Industry and Cooperative is expected to anchor the new trade pact into law. The trade pact was concluded in December last year after the end of UK’s transition period from the European Union (EU) on December 31. The UK is among…

Kileleshwa and Kilimani accounted for 45% of all properties on sale in Nairobi subburbs Home prices in Nairobi’s suburbs remained flat in q4 of 2020 at 1.2% with a marginal annual rise of 0.17% according to HassConsult’s property pricing index. The index attributes to a decline in prices for apartments by an average of 1.8% in the last quarter and 4.6% over the year. The Hass Property Index is used to measure the asking price changes of residential housing nationwide throughout Kenya serving as an indicator of trends. According to the index, residential units in Kileleshwa and Kilimani accounted…

Global logistics cryptocurrency, TMX Global coin has been featured as the most upcoming and efficient Blockchain technology by the Briter Bridges. Briter Bridges, a data-driven research company, lists companies that are changing the rules of the game in Africa. TMX Blockchain Logistics uses blockchain technology to enhance cargo logistics business with an objective of reducing costs and increase shipping efficiency. It integrates information about shipments onto a secure platform accessible to shippers, carriers, freight forwarders Barely two weeks after the Pre-ICO launch, the Blockchain technology saw a rise in the African Market.  Speaking during the PRE –ICO launch of the…

Kenya Deposit Insurance Corporation (KDIC) has published a list of banks and deposit-taking microfinance institutions whose customer deposits are insured. KDIC is a statutory institution established under the Kenya Deposit Insurance Act, 2012 (KDI Act, 2012). The Corporation is mandated to provide a deposit insurance scheme for customers of member institutions, to provide incentives for sound risk management and generally promote the stability of the financial system and prompt resolution. Further, KDIC protects depositors against the loss of all their deposits or bank balance in the unlikely event of a bank failure. COMMERCIAL BANKS ABSA Bank of Kenya Limited …

Kenya’s current account deficit (CAD) narrowed to 4.8 per cent of the GDP in 2020 compared to 5.8 per cent of GDP in 2019, the Central Bank said Friday. “This reflected savings from lower oil import bill, the strong performance of agricultural exports, and resilient remittances,” said the CBK in its Weekly Bulletin on the provisional data on the balance of payments. Diaspora remittances in 2020 rose to a record high of $3.1 billion, representing year-on-year growth of 10.7%. Kenya’s balance of payments deteriorated in Q3’2020, with a deficit of Kshs 178.0 billion from a surplus of Kshs 13.2 billion…