Author: Muindi

Proparco has granted Equity Bank two guarantee facilities, ARIZ and EURIZ totalling €39 million (Ksh 5 billion) for onward lending to Kenyan MSMEs. Proparco also granted a Ksh. 71 million (€550,000) technical assistance facility to support Equity Group Foundation’s health projects. The EURIZ guarantee and the technical assistance grant were supported by the European Union and the Organization of African, Caribbean and Pacific States. Equity Bank has over the years supported high-impact development programs through the Equity Group Foundation. These include programs in Education and Leadership Development, Energy and Environment, Food and Agriculture, Health, Financial Inclusion and Enterprise Development and…

Only five African countries will meet the target of fully vaccinating 40 per cent of their populations against the coronavirus, the World Health Organization says. Dr Matshidiso Moeti, World Health Organization (WHO) Regional Director for Africa said with just 5.7 per cent of the continent’s population fully vaccinated, COVID-19 still poses a very real risk to populations in Africa, and globally. “Yet just five Africa countries – less than 10 per cent of the continent’s 54 nations – are projected to hit the year-end target of 40 per cent of their people vaccinated,” she said adding that to reach this…

Kenya’s National Treasury has re-opened a 20-year bond with a 17.5 years maturity and a new five-year issue seeking Ksh 50 billion from November. The coupon rates are 12.873 per cent for FXD1/2019/20, while the shorter timed FXD1/2021/5 will have a market-determined rate of return. “The Bonds may be re-opened at a future date. Secondary trading in multiples of KShs 50,000.00 to commence on Tuesday, 16th November 2021,” the Central Bank of Kenya said in the prospectus. In the first three months of the current fiscal year 2021/2022, revenue collections overshot the government’s prorated estimates by 4.04 per cent to…

Atlas Mara Ltd. expects to delist from the London Stock Exchange on Nov. 24 to become a privately held company. The sub-Saharan African financial services company in a statement says it has applied for a voluntary delisting following a requirement by its creditors. “The Delisting will allow the Company to save costs, reduce its administrative and regulatory burden, operate as a leaner platform, and provide the flexibility to pursue other options,” it said. In July, Atlas Mara had said that it would consider taking steps to cancel the listing since it didn’t generate enough benefit to the company. Atlas Mara…

The Nairobi Securities Exchange (NSE) has signed a partnership with the Konza Technopolis Development Authority (KoTDA) to link start-up businesses to potential investors. “KoTDA is focusing in creating partnerships that will help Kenyan tech start-up companies to grow into global entities,” said KoTDA Chief Executive John Tanui. “Real Estate Investment Trusts (Reits) are among the funding models KoTDA is considering to tap into as we engage the NSE. We aim to ensure that at least 90 per cent of the investment in Konza Technopolis is derived from the private sector,” said Tanui. The partnership is under the KoTDA incubation programme…

Wawira Njiru, the founder of Food4Education and winner of the first-ever Global Citizen Prize: Cisco Youth Leadership Award, is  United Nations Person of the Year in Kenya in recognition for her contribution towards the distribution of relief food to school-going children. “I could not be more proud to help amplify the innovation, power, and dedication of Wawira Njiru,” said the World Food Programme’s country director for Kenya, Lauren Landis. “One school meal can change the course of a life and a country.” https://twitter.com/LaurenLandis1/status/1452127491636830209?s=20 Commenting on the UN recognition, Wawira Njiru said, “I am really grateful for the recognition, such things…