The Capital Markets Authority (CMA) has approved SCFM Limited to operate as a Non – Dealing Online Foreign Exchange Broker. This is the second non-dealing online foreign exchange broker license to be issued under the new regulations, which brought the oversight of online foreign exchange brokerage services under CMA. The first license was issued to EGM Securities Limited in 2018. READ: EGM Securities Launches FX Pesa an Online Forex Trading Platform SCFM Limited is a fully owned subsidiary of SM Capital Markets Limited which is a company registered in Cyprus. SM Capital Markets also has another subsidiary, Scope Markets which…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Three Kenyan banks have been shortlisted as nominees for the 2019 African Banker Awards. Equity Group, KCB Group and Family Bank. Equity Group has been nominated in African Bank of the Year, Socially Responsible Bank of the Year. KCB Group has been nominated in threee categories -Award for Innovation in Banking, Award for Innovation in Banking and Socially Responsible Bank of the Year. Family Bank has been nominated in Award for Innovation in Banking. Dr. James Mwangi, chief Executive Equity Group has also been nominated in the African Banker of the Year. The Awards, which are hosted by African Banker…
Kenya is in its final stages of enhancing local content policies to address the increment of local participation that encourages foreign investment in the oil and gas sector. The existing legislation are the Energy Act 2019, Part IX and Petroleum Act 2019, Part IV. Ministry of Petroleum and Mining, Cabinet Secretary, John Munyes said that the Petroleum Act that was recently assented to provides the country with a comprehensive framework to guide the development of regulations to implement local content. “The Ministry has been able to develop local content policies that look at upstream, midstream and downstream regulations. The current…
Fitch Ratings has assigned Kenya’s upcoming US dollar denominated senior unsecured notes an expected rating of ‘B+. “The expected rating is in line with Kenya’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B+’, which has a Stable Outlook,” said Fitch. READ: Kenya Begins Roadshow for 12-, 31-year Dual-tranche Eurobond In April, Fitch affirmed Kenya’s Long-Term Foreign- and Local-Currency IDRs at ‘B+’ with a Stable Outlook. A credit rating is used by sovereign wealth funds, pension funds, and other investors to gauge the creditworthiness of Kenya thus having a big impact on the country’s borrowing costs. Fitch’s credit ratings do not…
Nyali Capital, a non-deposit taking microfinance, has been admitted to the Nairobi Securities Exchange (NSE) premium incubation and acceleration program, Ibuka. “The admission of Nyali Capital Limited onto the Ibuka program is a testament of the company’s growth prospects and solid strategy as companies on the program have undergone a rigorous vetting and evaluation process to determine growth and expansion prospects,” said Geoffrey Odundo, NSE chief executive. https://twitter.com/Nyalicapital/status/1126806219392417793 Wanjiku Wambugu, chief executive Nyali Capital acknowledged that the Ibuka program is a game changer product in Kenya’s capital markets. “I would like to thank the NSE for taking this great initiative…
Century Microfinance Bank has received $1 million (Ksh.100 million) loan from Micro Enterprise Support Program Trust (MESPT) to increase its capital base. The capital injection will be used to enhance productivity for farmers and build capacity for micro, small and medium-size enterprises (MSMEs). “This partnership will go a long way in helping us unlock the vast potential that lies in the businesses and farmers within the agricultural sector using the value chain financing approach. Through our program, Century Microfinance is giving farmers grow their businesses, get better prices for their produces and get rid of brokers who have been exploiting…