The Central Bank of Kenya accepted KSh 60.35 billion out of KSh85.62 billion from its 10- and 20-year Treasury bonds- (FXD 2/2019/10) and (FXD 1/2019/20). CBK rejected expensive bids. According to Cytonn Investments, the 10-year bond generated more interest, recording total bids of Kshs 70.9 billion out of the Kshs 85.6 billion as investors continued to avoid the longer-tenor bonds due to the relatively flat yield curve on the long-end brought about by the saturation of long-term bonds, coupled with the duration risk associated with long-term papers. Genghis Capital Analysts further state that, “The FXD 2/2019/10 presents a better risk-return…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Money Market Funds are growing faster than the overall market Money market unit trusts are gaining popularity in Kenya attributed to continuous efforts being made to stimulate and deepen the capital markets as a safe, secure and reliable haven for investments. “The performance by Unit Trust Funds had stagnated since 2016 but this has now improved, following the repeal of the rate cap, in September 2018, which has seen bank deposits rates drop making Money Market Funds more attractive to investors,” explains Elizabeth Nkukuu, Chief Investments Officer of Cytonn Investments Management Plc. “There is still more room for growth and…
The 15th Energy Management Awards, celebrating excellence in energy efficiency in the Kenya manufacturing sector, were held Friday in Nairobi. Winners – Energy Management Awards 2019 Key: LC – Large Energy Consumers MC – Medium Energy Consumers SC – Small Energy Consumers S&M – Small & Medium Energy Consumers READ: Kenya Breweries Awarded as the Most Energy Efficient Industry in 2019 Award Categories Winner Overall Energy Management Award Kenya Breweries Ltd Overall Renewable Energy Award Strathmore University Sustained High-Performance Award BAT Nairobi Overall Water Efficiency Award Kenya Breweries Ltd Energy Innovation Award Kenya Breweries Ltd Electricity Savings Award (LC)…
Industries that have participated in the Kenya Association of Manufactures Energy Management Awards, have a combined energy savings worth KES 13.7 billion over the last 15 years. “The verified annual energy savings presented for EMA 2019 stands at over 55 million kilowatt-hours with the potential cost savings of Kshs. 419.5 million,” said Ms. Phyllis Wakiaga, chief executive KAM. “The total energy generation under the renewable energy category stands at 10 thousand megawatt-hours annually translating to over Kshs 92 million yearly,” she added.
Mövenpick Hotel & Residences Nairobi has appointed Mehdi Morad as General Manager and Country General Manager for Kenya. His focus will be on strengthening the positioning of the hotel and driving operational performance and productivity. Additionally, as the Country Manager, Kenya for Accor, Mehdi will oversee the country operations for five properties including the Fairmont hotels, Mövenpick and ibis Styles brands as well as the opening of Pullman Nairobi later in the year. Commenting on his new role, Mehdi Morad said: “It is a great honor to be part of Mövenpick Hotel & Residences Nairobi, a role I will enjoy…
Vehicle and Equipment Leasing Limited (VAELL), an independent asset leasing, maintenance and consulting company, on Friday, became the 6th firm to join the Nairobi Securities Exchange Ibuka Incubation and acceleration program. “We are pleased to have been admitted into the NSE incubation program as we gear up for the next phase of growth. VAELL hosting on Ibuka will increase our visibility in Kenya and the region as well as broaden VAELL’s access to capital options,” Bertha Mvati, VAELL Kenya MD. In 2018, VAELL’s Chairman Joseph Kizza said the firm had hired a consultant to guide the initial public offering (IPO)…