Outsized external inflows from international financial institutions and commercial financing are expected in the coming month. This flash note assesses the lumpy inflows against the FY20/21 budget outturn. We estimate an aggregate KES 264.1Bn from both multilateral and commercial financing (Eurobond IV). (Figure 1) that is expected in the final month of this fiscal year (June 2021). Undoubtedly, these flows will support KES stability in the near term. As per our 10M20/21 Fiscal performance topical note, we noted external financing in April increased by KES 46.7Bn, which comprised of KES 33.7Bn initial IMF disbursement for its ongoing 38-month program with the remainder (KES 13.0Bn)…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Flora Mutahi, accountant, entrepreneur, and corporate guru, is the new Board Chairperson of Kenya Private Sector Alliance (KEPSA), the first female to occupy the position. Jaswinder Bedi will serve as the Board Vice-Chairman. Ms Mutahi is part of a new leadership team picked during the lobby group’s 17th Annual General Meeting, which was held virtually. Mutahi is a former chairperson of the Kenya Association of Manufacturers and founder and CEO of Melvin Marsh International Limited. “My appointment as the first-ever female chair is a testimony to Kepsa taking a giant step in the right direction of entrenching inclusivity and meritocracy…
Safaricom has unveiled a new data campaign that will see customers enjoy free data every day customised to their usage profiles. As part of the campaign, customers can redeem free daily internet offers tailored to their use by dialing *544# every day for the next 90 days. The campaign seeks to empower more customers to take their offline passions online as part of the country’s digital transformation agenda. According to data from the Communications Authority, the country has 25 million mobile broadband connections meaning about 60percent of mobile phone users barely use the internet. “Smartphones and the internet have become…
Sidian Bank, a mid-tier bank focusing on SMEs made a consolidated net profit of Ksh 114million as at 31 March 2021 compared to a net loss of KSh7million same period in 2020. The improved profitability was attributed to increased lending in the period which grew interest income on loans as well as lending fees. Transactional and channels business also increased in the period enhancing the profitability. Further, loan impairment provisions booked in the quarter were lower by 58 per cent attributed to the improved loan book quality and loan collections. The impact of the increased incomes was however countered by…
Fintech startup KOA Save Africa Limited and venture capital firm Moneto Ventures Limited have been admitted to Kenya’s Capital Markets Authority (CMA) Regulatory Sandbox. The two firms will test their innovations in a live capital market environment in compliance with the CMA Regulatory Sandbox Policy Guidance Notes (PGN). KOA Save Africa will test its test KOA App. The innovation seeks to help retail investors quickly, conveniently, and affordably save and invest in the capital markets. KOA App is accessible to iOS and Android mobile users. The fully digital mobile application was to embed several collective investment schemes focusing on money…
There are multiple discussions around startups, business and governance but strangely enough, Africa isn’t an active participant when it comes to giving direct input on consumer technologies. Africa’s consumer technology and electronics space have always been the other market for the majority of brands. But there are a few, leading at the front, building in and for the African consumer. It’s high time to put a spotlight on this multi-billion dollar industry that’s evolving at a fast rate in Africa. Gadgets Africa, Kenya’s fastest-growing consumer-technology media platform has partnered with East Africa’s largest media conglomerate, Nation Media Group, to launch…