Author: Khusoko

M-PESA Foundation in collaboration with the Children’s Investment Fund Foundation (CIFF) Wednesday commissioned the Impact Philanthropy Africa Forum which aims to bring together self-funded corporate charitable foundations. The forum was launched during a virtual workshop themed Building Back Better: Growing Corporate Social Investment (CSI) in Kenya. The forum provides a platform for Impact Philanthropy Africa members, key thought leaders across policy, research, funding and government to share their perspective on the state of the sector and emerging opportunities to scale corporate giving for social impact in Kenya. The corporate philanthropies have committed to developing strategies that are aligned to key…

The central bank of Kenya on behalf of the National Treasury raised Ksh 81.9 billion on Wednesday from its 18-Year Treasury Bond (NO. IFB1/2021/018) April auction. The bond was oversubscribed with a performance rate of 147.63% with bids received totalling KSh88.6 billion against an advertised amount of KSh60 billion.  The average interest rate is 12.667%. https://twitter.com/CBKKenya/status/1379809160582270978?s=20 The previous IFB issue (IFB1/2021/16) in January sold at 12.25%. Its yield has dropped by about 50bps since it began trading in the last week of January according to market analysts. “Their (Infrastructure bonds) allure due to their tax benefits have made them attractive,…

Sitoyo Lopokoiyit has been appointed as the M-Pesa Africa managing director effective April 1, 2021. Sitoyo first joined Safaricom in July 2011 as Head of M-PESA Strategy and Business Development, a role he held until September 2015 after which he moved to Vodacom Tanzania as Director M-Commerce. While there, he was also a Vodacom Foundation Board Member and part of the EXCO team that handled the various challenges in the market successfully. Previously, Sitoyo worked as the Diversification Manager at Total Kenya, the Category manager at Uchumi Supermarkets, and as the Business Advisor and Merchandise manager at Chevron Kenya. Sitoyo…

Kenya’s Central Depository and Settlement Corporation (CDSC)  has made key changes to its board. The new directors of the board are Mrs Aida Kimemia-Nesbitt. She will serve as its Board Chairperson, and three new non-executive directors, Sitoyo Lopokoiyit, Kiprono Kittony and Lawrence Kimathi Kiambi. In a public notice, the quality provider of clearing and settlement services in the Kenya Capital Markets said Mrs Aida takes over from Charles Ogola. The latter leaves the CDSC Board after serving as Chairman and Independent Director, representing the public interest, since 2005. Mrs Aida Kimemia-Nesbitt: She is Managing Director at Tiserin Capital, a financial…

Kenyans  Hanigun Kwenya and Maurice Muendo were among 60 African film and production enthusiasts who graduated from the MultiChoice Talent Factory’s (MTF) on Tuesday. 2020 was undoubtedly tough due to COVID-19, but the ability of all the 60 students from the Lusaka, Nairobi and Lagos academy hubs to quickly adapt and transition from physical to virtual learning speaks to the world-class nature of the academy’s course, says Yolisa Phahle, CEO of General Entertainment and Connected Services, MultiChoice Group.  “The MultiChoice Talent Factory is very close to my heart. It speaks to who we are as Africans, natural-born storytellers. Today we…

Kenya’s public debt sustainability concerns are not about to ebb any time soon. In fact, the recently enhanced public health restrictions are threatening to somewhat derail the recovery in some sectors, dampening the nascent rebound in revenues. Collections were already 10% below last year as of February 2021 and while performance improved in March, risks of undershooting projections remain solid. Combined with public health spending pressure, this could sustain the country’s wide deficit and borrowing pressures. This comes just months before the expiry of some debt moratoriums from development partners and bilateral lenders. This could reignite debt service pressure, although…