Author: Muindi

The Capital Markets Authority (CMA) has approved Exinity Capital East Africa Limited to operate as a non-dealing online foreign exchange broker. Exinity Capital East Africa Limited becomes the fourth non-dealing online foreign exchange broker to be licensed by CMA. The others are EGM Securities Ltd (trading as FXPesa), SCFM Ltd (trading as Scope Markets), and Pepperstone Markets Kenya Limited. “This is an important milestone in the online foreign exchange market as it gives Kenyans a choice of four non-dealing online foreign exchange brokers licensed by CMA,” acting chief executive Wyckliffe Shamiah said Wednesday. According to the Capital Markets (Online Foreign Exchange…

Kenya Airways restored its services to Bujumbura, Burundi on November 9. “We’re pleased to resume passenger services and continue to keep your cargo moving,” revealed Kenya Airways on its Twitter feed. Its first flight, KQ 460 landed at Melchior Ndadaye Airport with 50 passengers on board. The resumption follows the reopening of Burundi’s National Airport Melchior Ndadaye, to international flights on Sunday.  Burundi’ss government spokesperson Prosper Ntahorwamiye in a statement said all passengers will be screened and quarantined for 72 hours upon arrival at government-identified hotels. Any passenger leaving or entering the nation through the airport will have to produce…

Kenya is expected to benefit from KSh1.2 billion United Kingdom funding for climate initiatives, an expansion of the PACT Green Recovery Challenge Fund to African countries to support their low carbon emissions. “The joint implementation Plan on Climate we are launching today will drive forward a key area of the UKKenya Strategic Partnership launched by President Uhuru Kenyatta and Prime Minister Boris Johnson in January this year,” Julius Court, British Deputy High Commissioner to Kenya said during the launch of a Year of Climate Action Tuesday. On his part, Environment PS Chris Kiptoo said the Kenyan government is committed to…

Absa Asset Management Limited has been granted a fund manager’s license by the Capital Markets Authority (CMA). The Unit Trust Funds will comprise of five funds, Absa Shilling Fund, Absa Dollar Fund, Absa Bond Fund, Absa Equity Fund, and the Absa Balanced Fund. “The Capital Markets Authority has granted consent to ABSA Asset Management Limited for the registration of Absa Unit Trust Funds,” reads a statement from the Regulator. In October, CMA published guidelines to Collective Investments Schemes, (CIS), on the valuation, performance measurement, and reporting by Fund Managers aimed at ensuring the standardization of the sector and consistency of…

Kenyan Premier League side AFC Leopards have unveiled Thomas Trucha as the head coach on a two-year deal. Trucha is a Czech national and Leopards’ chairman Dan Shikanda says, “He is someone who comes with huge football knowledge and experience. We will support him so that he can lead us to where we want to be. Trucha was formerly an assistant coach at the top-Czech side Viktoria Plzen. He has also coached Orapa United and Township Rollers in Botswana. Leopards former captain Anthony Kimani will resume his role as an assistant coach with Tom Juma. https://twitter.com/AFCLeopards/status/1323177109309804544?s=20

I&M Bank Rwanda’s trading of its Rights Issue shares recorded an oversubscription of 12 percent translating to KSh887.4 million. In a statement, Faida Securities Rwanda and I&M Burbidge Capital, the Joint Lead Transaction Advisors, the Rights Issue was undertaken to secure long-term funding to accelerate investment in technological platforms and bolster the Bank’s Tier 1 Capital Adequacy Ratio. Ms. Rina Hicks, Chief Operations Officer at Faida Securities Rwanda an associate company of Faida Investment Bank said, “We believe that going forward, growth will be driven by the Bank’s current strategy which largely focuses on increasing their MSME offering and leveraging…