The Capital Markets Authority (CMA) has approved the issuance of Kenya’s first unlisted green bond, to Acorn Project (Two) Limited Liability Partnership. The green bond seeks to raise KSh5 billion to finance sustainable and climate-resilient student accommodation and is structured as a restricted public offer for sophisticated investors. Issuers will target sophisticated investors who will get a 50% guarantee from credit guarantees provider Guarantco on both their investments and the interest. “The issuance is a critical step in advancing the development of an effective ecosystem to support the establishment of green capital markets in Kenya in line with the Marrakech…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Super petrol and diesel prices in Kenya have dropped by KSh2.86 and KSh3.28 per litre respectively, while that of kerosene has increased by KSh1.98. The Energy and Petroleum Regulatory Authority (EPRA) attributed the latest decrease in petrol and diesel costs to a break in the pricing of fuel imports between June and July. “The changes in this month’s prices have been a consequence of the average cost of imported super petrol and diesel decreasing by 5.6 and 7.1 percent between June and July 2019,” read EPRA’s statement. During the same period prices were affected by the mean monthly US Dollar…
Four young Kenyans emerged winners in the British Council’s prestigious Future Leaders Connect programme 2019. The four are; Sharon Adhiambo – a Public Sector Economist, Alphaxrd Gitau Ndungu – a Young Farmer and a master’s student at the University of Nairobi , Faith Nafula Wafula- an advocate for gender equality and human rights and Dr. Phyllis Maina- a Medical Officer of Health in semi-arid parts of Laikipia North in Kenya. The four were among eight shortlisted candidates who used six minutes to persuade a panel of judges how their ideas could make their country and the world a better place…
The Duke and Duchess of Sussex have recognised Kenyan environmentalist Elizabeth Wathuti and Uganda’s Andrew Bownds’ efforts in conservation. Prince Harry and Duchess Meghan Markle who are also the President and Vice-President of the Queens Commonwealth Trust, used their social media feed to recognise “young leaders helping our communities at a grassroots and global level – the inspiring individuals who have the power to lead the future, and are moving the needle every single day.” They hope to “shine a light on a few of these change-making young leaders of the QCT, who are doing amazing things – not because…
Schengen is a free-border area comprised of the 26 European countries Germany and France are the top destinations for Kenyans traveling to European Union countries on a Schengen visa according to a 2018 report. The German Embassy in Nairobi received a total of 6,142 Schengen visa applications, out of which 5,136 were approved whereas the French Embassy received a total of 5,059 visa applications, of which 4,647 were successful. The total number of Kenyans who were issued with Schengen visas to travel to Europe increased by 14 percent in 2018 up from 28,943 in the previous year, according to the…
A sovereign credit rating is an independent assessment of a country’s creditworthiness S&P Global Ratings has upgraded Rwanda’s long-term sovereign credit rating to ‘B+’ from ‘B’, and maintained its outlook at “stable”. “The outlook is stable because we expect Rwanda will continue to achieve above-average real GDP growth over the medium term, balanced against risks of fiscal slippages and rising government debt,” according to S&P. The firm says Rwanda has demonstrated strong GDP growth and above-average growth trends per capita than peers. “We expect high growth will be driven primarily by public investment, which will likely result in sizable fiscal…