Kenya has been ranked at the 7th position in the latest edition of the Africa Financial Markets Index that benchmarks countries’ performance across a host of indicators within financial market development. However, Kenya’s score is a decline compared to its third position in 2019 and 2018. The decline was attributed to Kenya’s inability to make significant gains in the legality and enforceability of standard financial markets master agreements amongst its peers. Other factors include the dependence of foreign investor participation on its equities market, reduced market capitalization at the bourse which was triggered by the COVID-19 pandemic which saw foreign…
Author: David Indeje
David Indeje
David Indeje is the community engagement editor at Khusoko, a leading digital platform for East African business news. He oversees editorial content, drives audience engagement, and amplifies diverse voices. Indeje also consults on digital strategy for brands in agriculture, governance, technology, and health, while exploring AI’s impact on journalism. In addition, he serves as a communications officer at KICTANet, advancing digital inclusion and policy dialogue.
VSA Capital has inked a strategic partnership deal with Faida Investment Bank expanding the London-based firm’s African footprint. In a joint statement, VSA Capital Chief Executive Andrew Monk said the partnership will enable increase appeal to multinational clients looking for opportunities in Africa. Mr Monk says Faida Bank is in a leading position in East Africa in the provision of security trading services thus will strengthen VSA Capital’s presence across Africa. VSA Capital operates offices in London, Shanghai, and in partnership with Moshe Capital in Johannesburg. According to Monk, the partnership will create a formidable London-China-Africa axis that will see…
The National Treasury has disbursed Ksh 52.2 billion to Kenya’s 47 County Governments as part of their equitable share of the revenue for months of July and August 2020 This is after the government enacted the County Revenue Allocation (CRA) Bill that initiated the release of funds. “The backdating of the payments to July 2020 could potentially jerk up overall liquidity in October. Increased T-bill and bond maturities should also lend support,” says NCBA Bank Analysts. “Stronger payments into the financial system may further support the performance reducing pressure on yields.” According to NCBA Analysts, for instance, the overnight rate…
Kenya’s debt has exceeded 7 trillion following large state borrowing as the coronavirus pandemic continued to wreak havoc to the economy. Data from the Central Bank of Kenya’s Weekly Bulletin shows that at the end of August, total accumulated debt hit KSh7.068 trillion. The debt increased by 0.158 billion compared with July’s KSh6.91 trillion. Between March and August, the country borrowed KSh782.75 billion of which KSh329.07 billion was from domestic sources and KSh453.69 from external sources. https://twitter.com/MihrThakar/status/1315242172694880257?s=20 Analysts at Genghis Capital project that the public debt will hit KSh9 trillion by the year 2022 if the current rate of borrowing…
BIDCO Africa Limited, East Africa’s leading manufacturer of Fast-Moving Consumer Goods (FMCG), is implementing a smart electrification solution for its latest production site at Bidco Industrial Park in Ruiru with support from Schneider Electric. Schneider Electric is providing and installing a suite of hardware and software that will provide Bidco’s operations team with the ability to power and maintain the factory’s existing production lines. In addition, it will ensure the facility is future-ready and is able to integrate renewable power sources with Internet-of-Things functionality. “We were looking for electrical technologies that would create efficiency and allow for scalability as we…
The Walt Disney Company is reorganizing its media and entertainment businesses to focus on streaming and direct-to-consumer offerings. “Given the incredible success of Disney+ and our plans to accelerate our direct-to-consumer business, we are strategically positioning our Company to more effectively support our growth strategy and increase shareholder value,” said CEO Bob Chapek in an announcement Monday. The revised structure will include a new media and entertainment distribution group that handles all content Disney produces. The company will organize its holdings into three media and entertainment content groups – Studios, General Entertainment and Sports. Studios will include Disney, Pixar, Marvel,…