The Central Depository and Settlement Corporation (CDSC) says it has made a final payout of KSh 935.9 Million to investors in the mobile-traded government bond, M-Akiba. The amount includes Ksh.44.6 million in interest and Ksh.891.4 million in principal amounts paid to 13,592 investors. Since its launch in 2017, a total of Ksh.312.4 million has been paid out as interest to M-Akiba investors across five issues which raised Ksh.1 billion in proceeds to the National Treasury. M-Akiba was first issued on 30 June 2017, after a successful pilot phase launch of M-Akiba 1 on 23 March 2017. The M-Akiba retail bond…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Mr. Keith Hansen is the new World Bank Country Director for Kenya, Rwanda, Somalia, and Uganda effective September 8, 2020. He will be based in Nairobi. He takes over from Carlos Felipe Jaramillo who was appointed as the Vice President for Latin America and the Caribbean region. He is is a senior adviser for the World Bank. He was previously the Vice President for Human Development, overseeing the Global Practices for education; health, nutrition, and population; and social protection and labor. Mr. Hansen also served as acting vice president for the World Bank’s Human Development Network. He was the human…
Mdundo on Friday listed its shares on the Nasdaq First North Growth Market aimed at raising additional funds for its growth into new African markets. The Kenyan-based streaming platform will be trading on Nasdaq Copenhagen in Denmark, after a two-week presale period that raised $6.4m. During the period, the company’s share sale offer was oversubscribed by 111% from 2,914 investors. “Mdundo currently has 5 million monthly users, but our potential is more than 30 times greater,” Mdundo CEO Martin Nielsen said. “With a steep growth curve and a very scalable solution, we plan to invest further in user growth to…
Benson Ochieng, one of the outstanding players in the second edition of Chapa Dimba Na Safaricom, has signed a five -year contract with Kenya Premier League side Gor Mahia. The 18-year-old striker was signed on 1st September 2020 with a statement on Gor Mahia’s website confirming the teenage sensation had joined the club. Ochieng made history by becoming the first player to score a hat-trick for Western Stima in a KPL match. This earned him a KPL Sports Journalist Association of Kenya (SJAK) player of the month award in December 2019, becoming the third Western Stima player to win the…
Bruno Thomas has retired as an independent director on the East African Cables board by rotation effective Sept 3. The cable manufacturer, Bruno has served as a technical advisor for 14 years. “His contribution to the company is evident in the transformation and modernization of our manufacturing facilities to world-class status. Mr Bruno leaves a legacy of safety, quality conformance, cost optimization and efficiency in production,” said the board in a statement. According to EAC, each Non-Executive Director serves the Board for a term of three years which is renewable. In accordance with the company’s Articles of Association, non-executive directors…
The Central Bank of Kenya’s treasury bills auction was undersubscribed attracting bids amounting to Ksh10.9 billion against the targeted Ksh 24 billion. This translates to a performance rate of 49.57 percent compared to last week’s 52.33 percent performance rate. According to the CBK, the 91 days bills received bids worth Ksh2.73 billion against Ksh 4 billion. CBK accepted Ksh 2.25 billion at an average interest rate of 6.295 percent. The 182 days bills sought Ksh10 billion received bids worth Ksh3.16 billion representing a 31.62 percent performance rate. CBK accepted Ksh2.68 billion at an average interest rate of 6.63 percent. The…