Author: Khusoko

The Central Bank of  Kenya (CBK) kept interest rates unchanged at 7.00 percent noting that leading economic indicators for the third quarter-point to a strong recovery in economic activity. The central bank said, “This improvement and resilience is supported by agricultural production, increased activity in key sectors particularly services with the easing of COVID-19 restrictions, normalisation of exports, and Government interventions to mitigate the impact of the pandemic.” CBK said inflation remains well anchored and is expected to remain within the target range in the near term. This will be supported by lower food prices, the impact of the reduction…

Kenya’s President Uhuru Kenyatta extended the nationwide curfew by 60 days but revised the dusk-to-dawn timings from 11 pm-4 am effective Tuesday. The president also lifted the ban on the sale of alcohol by bars and restaurants but noted that the businesses must be closed by 10 pm. “…their operations shall be with strict adherence to all applicable guidelines and protocols issued by the Ministry of Health,” said the President. Kenyatta made the announcements following National Covid-19 Conference that took place at the Kenyatta International Convention Centre (KICC) in Nairobi on Monday. During the conference, Kenyatta disclosed that the country’s…

FourFront Management, owned by Standard Investment Bank (SIB)  has been admitted to the Capital Markets of Kenya Regulatory Sandbox. CMA says financial technology (fintech) firm will test new products for possible rollout in the local capital markets. They propose to test a robo-advisory solution targeting 100 investors during a four-month period.  A robo-advisor is a digital platform that provides automated, algorithm-driven financial planning and investing services with little to no human interaction. It collects information from its clientele about their financial situation and future goals through an online survey and then leverages the data as a basis to offer investment…

I trust this note finds you holding up well, even in these difficult and unprecedented times. The purpose of this note is to provide clarification on inaccurate reports making rounds on social media about our products but without the requisite context, based on a letter authored by the Capital Markets Authority, “CMA”.  On June 3rd we received a letter from CMA asking us to limit investments by Cytonn High Yield Fund, CHYF, into real estate managed by Cytonn to no more than 10% of the fund. The directive was purportedly based on regulation 16 (2) of the Collective Investment Schemes Regulation…

Schneider Electric, a digital transformation of energy management and automation, has introduced Easy UPS 3L, the newest part of the Easy UPS 3-phase Uninterruptible Power Supply (UPS) range, extending the medium range to 500 and 600 kVA (400V) for external batteries.  The Easy UPS 3L simplifies and streamlines configuration and service, delivering high availability and predictability to medium and large commercial buildings, data centers, and light industrial UPS applications. With its compact footprint, highly available parallel and redundant design, and robust electrical specifications, Easy UPS 3L protects critical equipment in a wide range of environments from damage due to power…

Crowne Plaza Nairobi Airport said on Thursday it is the first hotel in Kenya to receive Safehotels COVID Clean (TM) certification. The country’s first 5-star airport hotel said the certification comes at a crucial moment in the hospitality industry when current and future travellers are demanding watertight reassurance that their travel choice hotels and destinations are clean and safe. “Without any effective treatments and vaccines still in development, the only option available is for institutions to instigate preventative measures. We are excited that our hotel has passed all parameters and protocols of hygiene and safety set by SafeHotel. There is…