High Interest Rates Drive Borrowers to SACCOs
Kenyan Saccos reaped from the high interest rates on loans by commercial banks to net more customers looking for cheaper loans. Notably, rural users showed a higher preference for traditional [...]
T-Bill Rates Fall Below 12% Amid CBK Jumbo Rate Cuts
Yields on treasury bills (T-Bills) have declined sharply, falling below 12% for the first time since July 2023 after aggressive interest rate cuts by the Central Bank of Kenya (CBK). [...]Kenyans Avoid Chamas as Source of Financial Advice -FinAcess Survey
Kenyans are shifting away from informal, community-based sources such as chamas for financial advice, instead seeking advice from family/friends or self-consultation. “Group/Chama usage has almost disappeared in 2024, reflecting a [...]Investing in Agriculture in Africa Has an Information Problem
Agriculture employs the most people in Africa and contributes 30—40% of gross domestic product. Its apparent importance notwithstanding, the practice of and investments in agriculture in Africa suffer the most [...]
Makini Group of Schools' Owner ADvTECH Acquires Ethiopian School for $7.5mn
Makini School’s owner ADvTECH has concluded a $7.5 million agreement to acquire 100% interest in Ethiopia’s Flipper International School. “As Addis Ababa experiences rapid urbanization, the demand for high-quality education [...]Safaricom Enters the Money Market Fund Industry with Ziidi MMF
Telco giant Safaricom PLC has entered the money market fund after its subsidiary, Ziidi Money Market Fund, received a license from the Capital Markets Authority (CMA). According to Wycliffe Shamiah, [...]
Capital Markets Regulator Licenses Future Construct as REIT Manager
The Capital Markets Authority (CMA) of Kenya has granted Real Estate Investment Trust (REIT) Manager License to Future Construkt Investment Managers Ltd, a subsidiary of Construkt Africa LLC (Mauritius), a [...]University of Nairobi Launches the Silicon Savannah Innovation Park, One of its ‘Big Five’ Projects
The University of Nairobi (UoN) will tap into Kenya's nascent innovation ecosystem after opening up the Silicon Savannah Innovation Park to empower students with skills such as artificial intelligence, green [...]NCBA Bank Takes Over Unga Group’s KSh 860mn Loan from Absa
NCBA Bank Kenya has taken over a KSh 860 million loan from Absa Bank Kenya to Unga Group, which was due in June 2024. “The facility taken over by NCBA [...]Kenya Bankers Association Report Unearths Gaps Banks Must Seal to Create Sustainable Future
The Kenyan banking industry still has homework to do in improving transparency, addressing greenwashing, facilitating capital mobilisation and empowering market participants to identify and invest in sustainable assets. “As highlighted [...]Indian Businessman Gautam Adani Faces US$250mn Bribery Charges in the US
Gautam Adani’s name is in the global newsreels for the wrong reasons again; this time, New York prosecutors are pursuing him for allegedly bribing Indian government officials with US$250 million [...]Treasury Bill Rates Decline Further to 2023 Levels
Interest rates on Treasury bills have declined to levels last seen in August 2023, all below 14%, amid the Central Bank of Kenya’s resolve to begin the easing cycle in [...]
