Author: David Indeje

The Nairobi Securities Exchange (NSE) Board chair has called for collaboration with capital markets in East Africa to stimulate and spur market development. “We need capital market collaboration in EAC to develop scale,” Kiprono Kittony said via his Twitter handle adding that  Kenya and Tanzania bourses are worth a combined $63B USD,  which is 6 per cent of the Johannesburg Stock Exchange. https://twitter.com/KipronoKittony/status/1389871811622494208?s=20 The 18th Edition of the Capital Markets Soundness Report (CMSR) for the Quarter ended March 2021, found out that the domestic capital markets remained sound attributed to low volatility in equity prices as the economy adjusted to…

Allianz, Germans’ leading insurers, and asset managers have completed the acquisition of a 66 per cent stake in East Africa’s largest insurance group Jubilee Holdings for Ksh 10.8 billion (EUR 84 million, USD 100 million). Following the acquisition, Jubilee General Insurance will now operate as “Jubilee Allianz General Insurance Limited” after the two companies complete corporate filings. “Jubilee Holdings is a leading insurance business in East Africa spanning distribution reach and network across the country and an exciting talent,” said Coenraad Vrolijk, Regional CEO and Regional Executive Board Member of Allianz Africa Tuesday during a virtual media briefing. “We are…

I&M Holdings Plc has acquired a majority stake in Uganda’s Orient Bank Limited (OBL) from 8 miles LLP and Morka Holdings Limited. In a statement Monday, I&M said the acquisition was completed on 30th April 2021 after receiving the necessary approvals from the Central Bank of Kenya, Bank of Uganda, Capital Markets Authority of Kenya and the COMESA Competition Authority. I&M Holdings PLC and Orient Bank Limited signed an agreement in July 2020 for I&M Holdings PLC to acquire 90 per cent shareholding of the Ugandan entity.  “The move underscores I&M Group’s commitment to its growth and expansion strategy in Eastern…

United Kingdom Minister for Africa James Duddridge will address the Eastern Africa Editors Society as it marks World Press Freedom Day, May 3, 2021, at 8 am through a video conference. Mr Duddridge will highlight the work journalists do amid challenging environments, including the COVID-19 pandemic.  https://twitter.com/EA_Editors/status/1388947530549977094?s=20 Monday’s session will be the last in a five-day series of meetings organised by the Eastern Africa Editors Society to mark World Press Day.  The regional consultative meeting has drawn delegates from Kenya, Ethiopia, Comoros, Seychelles, Mauritius, Uganda, Somalia, Rwanda, South Sudan and Tanzania and on how to strengthen media freedoms in the…

Kenyan President Uhuru Kenyatta on Saturday lifted the Covid-19 restrictions following a 72% reduction in new cases within Nairobi. Other counties that had been affected by the restrictions were Machakos, Kiambu, Kajiado and Nakuru.  Initially, the Interior Ministry through a gazette notice had announced 60 days extension in the night curfew in the country’s five worst-affected counties. The counties had been classified as diseased zone due to a high prevalence of Covid-19. In a televised address to mark Labour Day celebrations, President Kenyatta said, “This caseload has now gone down to below 15,000 for the month of April, signifying a…

DIB Bank Kenya Limited, a subsidiary of Dubai Islamic Bank has introduced PesaLink, an interbank transfer digital payment solution, as part of its digital banking providing convenience to customers. “We are committed to the continuous improvement of our banking services for the benefit and convenience of our customers,” said DIB Bank Managing Director Peter Makau. The service enables customers to make single payment transactions of up to KSh300,000 and up to a daily aggregate limit of KSh999,999 conveniently. Pesalink is a digital banking platform that was introduced in Kenya on February 17th, 2017. It allows bank to bank and mobile…