Analysts and economists expect the Monetary Policy Committee (MPC) to leave the benchmark lending rate unchanged at 9.00% largely on stable macro-economic fundamentals. when it meets Monday. Genghis Analysts and Cytonn Investments are of the view that the committee will adopt a wait and see stance given the macroeconomic environment is relatively stable. “We expect the MPC to maintain the CBR at 9.0% in the January meeting due to the potential of perverse outcomes on growth ensuing from a policy change, the current stable macroeconomic environment and increasing uncertainty in the global economy,” Genghis Capital. However, “The key concern, however,…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
The Court of Appeal has given Stanbic Bank an okay to sale some assets belonging to Naivasha-based Karuturi flower farm together with those of its guarantors Surya Holding Limited and Rhea Holdings Limited to recover its debt. This is after the court dismissed an appeal against an earlier court ruling that allowed the sale with suits on Friday. By way of this appeal, the Shareholders of Karuturi, which is in liquidation, had sought to prevent the sale of the company’s assets, and those of its guarantors, to repay debts owed to its secured creditors. In December 2010, Karuturi Limited had…
2019 Global Game Jam, the largest game creation event will be taking place this weekend in various locations around the world. In Africa, leading pan-African telecoms group Liquid Telecom will support African gaming developers, programmers, and designers in Kenya, Rwanda, Uganda and Zambia. Participants will be provided with venues and high-speed connectivity as they spend 48 hours developing video games as part of the worldwide competition. Global Game Jam is the world’s largest game jam event taking place at various locations around the world this weekend. Entrants have 48 hours to design, develop and test a new game, which must…
Buying an apartment is becoming costly for home buyers coupled with rising demand indicating a sharp recovery in rental asking price for apartments in the last quarter of 2018 boosting the annual growth to 15.9% “ending three years of lackluster growth and falling rates.” This is compared to 2018 when HassConsult reported a drop by 3.9% in rental prices across all property with apartments recording the sharpest decline both in rental prices and value. “We saw an industry-wide recovery in the final months of 2018, with rents rising, sales prices rising, and industry activity picking up generally, after the marked…
Muthoni Ndonga ‘the Drummer Queen’, Kenyan musician has been selected as a 2019 TED fellow alongside 19 others. “I am very excited to be selected as a TED fellow and to join a global community of thought leaders and doers. After 10 years in music and culture, and based on research and data, it is clear that the creative sector is a legitimate manufacturing industry in Kenya and indeed Africa,” announced Muthoni on her social feeds. “Being on the global TED platform will help me amplify this position, as well as the political undertones to creators, investors, industry players, leadership…
The Treasury raised Ksh 38.5 billion against a target of KSh40 billion in its two- and 15-year bonds on Wednesday auction for budgetary support. According to economists, the 2-year and 15-year results came within market expectations with the average for the 2-year falling at 10.701% while that of the 15-year came in at 12.857%. Cytonn Investments also expected similar auction results, “Treasury bonds with the same tenor (2.0-years and 15.0-years) are currently trading at a yield of 10.7% and 12.6% respectively. We expect bids to come in at between 10.7% – 10.9% and 12.6% – 12.8% for the 2-year and…