Arvocap Asset Managers Limited and Myxeno Investment Management Limited have received licenses from the Capital Markets Authority (CMA) to operate as fund managers. Kingdom Securities Limited has also been licensed as an authorized securities dealer by the regulator. Fund managers are entities that manage collective investment schemes, registered venture capital companies, or investment portfolios. Authorised securities dealers are entities that deal in securities and operate in specific market segments. The CMA now has 40 licensed fund managers and four authorised securities dealers. The regulator’s CEO, Wyckliffe Shamiah, said that the licensing of new market players shows their confidence in the…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Dr. James Mwangi, the Managing Director and CEO of Equity Group, has advocated for the equitable provision of essential services and opportunities to refugees in Africa. He made this call at the 2nd edition of the Amaharo Refugee Forum, a platform that brings together stakeholders to discuss and address the challenges and opportunities of refugee integration in Africa. The forum was held in Accra, Ghana, from November 2 to 4, 2023. The rise of internal and cross-border conflicts across the continent and the world has affected millions of people. While humanitarian agencies and responsible governments have done their best to…
Business confidence in Kenya ‘deteriorated markedly’ in October, according to Stanbic Bank’s Purchasing Manager’s Index (PMI). “At 46.2 in October, the headline PMI was down from 47.8 in September and indicative of a solid deterioration in the health of the private sector. The rate of decline was the second-fastest since August 2022 and close to the marked downturn seen in July,” read the PMI. A PMI reading above 50.0 indicates an improvement in business conditions, while readings below 50.0 indicate a deterioration. The general business environment worsened significantly due to the high inflation rate in the country, which was close…
Airtel Networks Kenya Limited has announced that it will roll out 100 additional 5G sites across the country by the end of 2023. The move will improve internet connectivity for Airtel customers by providing them with fast speed, low delay, and smooth connections to several devices, as made possible by the 5G network. The new 5G sites will expand Airtel’s 5G coverage from 180 wards to 221 wards and from 15 counties to 32 counties. The counties that will benefit from the 5G network are Nairobi, Kiambu, Mombasa, Nakuru, Uasin Gishu, Machakos, Kisumu, Kilifi, Kajiado, Kwale, Kakamega, Bomet, Embu, Homabay,…
Car & General, an automotive dealer in Kenya, has warned that its profit for the 15 months ending December 31, 2023, will drop by more than 25 per cent compared to the previous year. This is due to foreign exchange losses, lower motorcycle sales, higher finance costs, and demurrage costs in Tanzania. “The drop in the Group’s performance is mainly attributed to a combination of factors, including foreign exchange losses on US exposers resulting from a significant strengthening of the US dollar.” The company changed its financial period to December 31, as approved by the shareholders at the 2023 Annual…
The Horticulture Crops Directorate in Kenya, under the Agriculture and Food Authority, has announced a halt to the harvesting and export of avocados. This suspension will be effective from November 3, 2023, for the 2023–2024 fiscal year. The directive will affect Hass, Pinkerton, Fuerte, and Jumbo avocados. “Following the findings of the survey, we hereby notify the Kenyan avocado stakeholders that the closing of Hass, Pinkerton, Fuerte, and Jumbo harvesting season and export by sea for the 2023/2024 fiscal year shall be in force with effect from November 3, 2023,” said HCD acting Director-General Willis Audi. “Export clearance (including fruit…