Author: Muindi

The Nairobi Securities Exchange (NSE) has amended its trading rules to allow block trades to drive more liquidity in the market. A block trade is a large, secretly negotiated securities transaction called a block deal. It is typically set up outside of open markets to limit its impact on the security price. At the bourse, block trades shall constitute the sale of shares whose value exceeds KSh3 billion and constitute 5 per cent or more of an Issuer’s total issued shares, subject to a maximum of 24.99 per cent. They can also constitute the sale of shares whose value is…

The proposed free trade agreement (FTA) between Kenya and the U.S. is a high priority for both countries to be finalized before 2025. The Kenyan Trade Principal Secretary Alfred K’Ombudo, who leads the delegation, is in Washington, D.C., for a one-week meeting that commenced on February 6 and will run until the 10th. This is the first face-to-face discussion within the Strategic Trade and Investment Partnership (STIP) framework promoted by President William Ruto’s government. https://twitter.com/Trade_Kenya/status/1622474806946824192?s=20&t=ImHl9IGIHunZ_Mshm48BOw The Kenya-US STIP was initiated on July 14, 2022, with both states agreeing to increase their cooperation. “The partnership aims to increase investment, promote sustainable…

Technology is evolving at a breakneck pace. Each new day brings new trends in technology, making it increasingly difficult for brands to catch up. It is like a bullet train that has long left the station, with those not onboard risking being left out forever. The financial sector is one of the sectors in Kenya that has been significantly disrupted by ever-changing technology. Kenya’s financial system has undergone drastic transformations that have seen the country being among the best in technological enhancements. Kenya has been a leader in financial inclusion for over 13 years, thanks to the advancement in technology…

Global Trade Centre, a premier lifestyle and business destination, has reached a development milestone – the Executive Residences are now ready for occupation. The Executive Residences are central to the GTC community and showcase 514 luxury apartments across four towers. A selection of residences will be serviced apartments (scheduled to open soon) operated by the Pan Pacific Hotel Group. The brand is a globally renowned hospitality company operating hotels, resorts & services suites, and this will be its first footprint in Africa. The remaining residences will be managed as a white label at the owner’s discretion. Complementing the residences will…

Centum Investment Company has commenced a programme to buy back up to 66,544,178 of its ordinary shares following shareholder approval of the plan. A second resolution by the shareholders authorised directors of the company to re-allot shares acquired through the buyback, which received the approval of 98.44 per cent of shareholders. “The share buyback is expected to provide liquidity to shareholders who may not have been able to trade due to the current depressed market conditions. It will reward long-term shareholders whose net asset value per share will improve as a result of the reduction in shares,” said Centum Group…

Kenya’s private sector activity in January accelerated to an eleven-month high with a surge in demand, boosting business activity and supporting a renewed increase in employment, a private survey said. The S&P Global Kenya Purchasing Managers’ Index (PMI) rose to 52.0 in January from December’s 51.6 figure. A print above 50 is considered an expansion, while below 50 is a contraction. “For the second month running, construction was the only monitored sector to see a decline in sales, contrasting with rises in agriculture, manufacturing, services, and wholesale & retail,” S&P Global relayed via a comment accompanying the survey. Standard Bank…