Author: David Indeje

Kileleshwa and Kilimani accounted for 45% of all properties on sale in Nairobi subburbs Home prices in Nairobi’s suburbs remained flat in q4 of 2020 at 1.2% with a marginal annual rise of 0.17% according to HassConsult’s property pricing index. The index attributes to a decline in prices for apartments by an average of 1.8% in the last quarter and 4.6% over the year. The Hass Property Index is used to measure the asking price changes of residential housing nationwide throughout Kenya serving as an indicator of trends. According to the index, residential units in Kileleshwa and Kilimani accounted…

Global logistics cryptocurrency, TMX Global coin has been featured as the most upcoming and efficient Blockchain technology by the Briter Bridges. Briter Bridges, a data-driven research company, lists companies that are changing the rules of the game in Africa. TMX Blockchain Logistics uses blockchain technology to enhance cargo logistics business with an objective of reducing costs and increase shipping efficiency. It integrates information about shipments onto a secure platform accessible to shippers, carriers, freight forwarders Barely two weeks after the Pre-ICO launch, the Blockchain technology saw a rise in the African Market.  Speaking during the PRE –ICO launch of the…

Kenya Deposit Insurance Corporation (KDIC) has published a list of banks and deposit-taking microfinance institutions whose customer deposits are insured. KDIC is a statutory institution established under the Kenya Deposit Insurance Act, 2012 (KDI Act, 2012). The Corporation is mandated to provide a deposit insurance scheme for customers of member institutions, to provide incentives for sound risk management and generally promote the stability of the financial system and prompt resolution. Further, KDIC protects depositors against the loss of all their deposits or bank balance in the unlikely event of a bank failure. COMMERCIAL BANKS ABSA Bank of Kenya Limited …

Kenya’s current account deficit (CAD) narrowed to 4.8 per cent of the GDP in 2020 compared to 5.8 per cent of GDP in 2019, the Central Bank said Friday. “This reflected savings from lower oil import bill, the strong performance of agricultural exports, and resilient remittances,” said the CBK in its Weekly Bulletin on the provisional data on the balance of payments. Diaspora remittances in 2020 rose to a record high of $3.1 billion, representing year-on-year growth of 10.7%. Kenya’s balance of payments deteriorated in Q3’2020, with a deficit of Kshs 178.0 billion from a surplus of Kshs 13.2 billion…

Centum Real Estate Limited, a subsidiary of Centum Investment Company has listed its KSh3 billion project bond on the Nairobi Securities Exchange (NSE). The listing will give investors of the three-year bond a platform to trade the security before its maturity in 2023. “The listing gives investors flexibility and more options to cash in or re-balance their portfolios on a need basis during the life of the bond,” Centum Real Estate managing director Samuel Kariuki said. The three-year bond has a maturity date set on December 16, 2023.

Carbacid Investments PLC on Friday received 90.3% shareholders’ approvals to acquire BOC Kenya at its 49th annual general meeting of the shareholders (AGM). With the approval, together with Aksaya Investments LLP they are set to acquire all 19,525,446 shares in listed manufacturer BOC Kenya at a cost of KSh 1.24 Billion, equivalent to KSh 63.50 per share. As they ratified the Offer, shareholders tasked the Board of Directors of CIL to all use reasonable efforts to complete the acquisition as soon as is possible. “This acquisition is part of our diversification strategy and the combination of BOC’s product portfolio and…