The financial markets have started like a rocket this year. The main global indices have incredible resilience through the current pandemic and political turmoil. The German Stock index (DAX30) started this year up 80% from its March 2020 low. The US NASDAQ closed off last year with a gain of 43.64% and since the opening of 2021 all the main US indices (Dow Jones, S&P500, NASDAQ) keep relentlessly printing new all-time highs. Some of the strongest performing global stocks continue to be those that are servicing the needs of a planet in lockdown. For example, ZOOM (ZM), a video communications…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
I stand here today full of gratitude and appreciation as I say goodbye to the judiciary after about 18 years of service to the people of Kenya. During this time I have served first as a judge of the high Court, judge of the court of appeal and finally as the Chief Justice of the Republic of Kenya. A time has come for me to say goodbye. I want to start by thanking God Almighty for the opportunity you gave me to serve the people of Kenya and the guidance he provided as I carried out my duties, you will…
The Central Bank of Kenya (CBK) is inviting bids for its Ksh 50 billion Infrastructure Bond (IFB) with a tenor of 16 years (IFB1/2021/16) to fund infrastructure projects in the current fiscal year. This is the second bond with the 2020/21 fiscal year after the re-opening and tap sales of FXD1/2012/15 and FXD2/2019/15 in December 2020. Investors are required to submit their bids for the bond at a minimum of KSh 100,000, whose sale closes on 19th January 2021. The Bond has a value date of 25th January 2021. Bids for the 16-year infrastructure bond close by 2 pm on…
Wazito FC took only 21 minutes through Kevin Kimani’s close range finish to maul the Leopards during Saturday’s FKF Premier League played at Utalii Grounds. In other matches played Saturday. Sofapaka FC had a 4-2 victory over Mathare United at the Dawson Mwanyumba Stadium in Wundanyi, Taita Taveta. Lawrence Juma’s hatrick and Nixon Omondi’s first half strike earned Batoto Ba Mungu the second win of the season. https://twitter.com/FC_Sofapaka/status/1347909884529025024?s=20
NMB Bank Plc, Tanzania’s largest bank by assets, concluded the transfer of 174.5 million shares to Arise, Rabobank investment arm. This is after it received regulatory approvals from the Capital Market and Securities Authority (CMSA). Arise B.V, an investment platform, is a leading African investment company (holding company) which is backed by reputable cornerstone investors. NMB Chief Executive Officer, Ruth Zaipuna, said, “The successful completion of the share transfer is a testament of investors’ confidence on the Institution and the Country at large.” “The collaborative partnership between Arise and NMB is envisaged to deliver substantial operational, commercial, organizational and financial benefits with…
ICEA Lion Life has appointed George Nyakundi, an experienced insurance professional with a demonstrated thirty-year experience across the East African Insurance Industry as the Company’s Chief Executive. He takes over from Justus Mutabari Mutiga, who has retired after 27 years with the firm. “Justus joined Insurance Company of East Africa (ICEA) in 1994 and demonstrated strong leadership and technical expertise,” said ICEA Lion Group chairman James Ndegwa. “ICEA Lion Group has benefited immensely from his contribution and we look forward to retaining and tapping into his wealth of knowledge as he joins the holding company board as non-executive director.” Nyakundi…