Kenya Escalates Drought Interventions
This suggests that while drought risks are mounting in vulnerable counties, broader inflation pressures remain contained at the national level
Kenya Raises KSh 290.3Bn to Refinance Eurobond Debt
The Kenyan Government has raised US$2.25B (KSh 290.3B) in a dual-tranche Eurobond sale to refinance near-term external debt, funding a buyback of its 2028 and 2032 notes and extending maturities to 2034 and 2039. The state sold US$900M seven-year notes at 7.875% and US$1.35B 12-year notes at 8.700%, with proceeds set aside to retire up to US$500M (KSh 64.5B) of outstanding Eurobonds and support the budget. Treasury linked the deal to improved investor confidence following Kenya’s recent credit rating upgrade.
Kenya Grants Uganda Exclusive Board Seats in KPC
The government has extended the Kenya Pipeline Company IPO by three working days after the Capital Markets Authority approved a revised closing date of February 24, 2026, following investor feedback during the offer period. The extension comes alongside governance amendments that recognize KPC’s regional role, including board nomination rights for Uganda subject to shareholding thresholds. Offer terms remain unchanged, with allocation results due on March 4 and trading set to begin on the Nairobi Securities Exchange on March 9.NSSF's Billions Tied Up in Dozens of Land, Tax Disputes
The National Social Security Fund (NSSF) sits at the centre of dozens of unresolved court cases and arbitrations that together run into the tens of billions of shillingsKenya Pipeline Extends IPO Bank Guarantee Deadline
Kenya Pipeline Company has revised settlement terms for investors using Irrevocable Bank Guarantees in its IPO, extending the final payment deadline to March 6, 2026 from March 5 after approval by the Capital Markets Authority. The update, issued on February 18, comes a day before the offer closes and lengthens the bank settlement window to 48 hours while tightening assignment rules on guarantees. The company said the changes affect only post-allocation payment mechanics and leave pricing, offer size, and other IPO terms unchanged.Kenya to Buyback KSh 64.5Bn Eurobond Ahead of Fresh Dollar Bond Issue
Kenya has launched a US$500M (KSh 64.5B) Eurobond tender targeting its 7.25% notes due 2028 and 8.00% amortizing notes due 2032, offering premium prices as part of a liability management exercise linked to a planned new US dollar bond issue. The offer seeks up to US$150M (KSh 19.4B) of 2028 bonds and US$350M (KSh 45.2B) of 2032 notes at 103.50% and 105.50% of face value respectively, plus accrued interest. Acceptance depends on successful refinancing, with tendering investors receiving priority in allocations of the new issue.Crested Uganda Pegs Kenya Pipeline's IPO Fair Value at KSh 4.61 Ahead of Offer Close
Uganda's Crested has valued the Kenya Pipeline Company IPO at KSh 4.61 per share, warning of a 49% downside to the KSh 9.00 offer price as the subscription period nears close. The valuation aligns with Old Mutual Uganda’s earlier call and is based on a blended DCF and peer-multiple analysis, factoring in KPC’s heavy capex plan and modest 3.9% dividend yield at the offer price.Ethiopia's Stock Exchange Advances Six Banks Toward Listings
Ethiopia’s stock market is set for its first meaningful expansion after the Ethiopia Securities Exchange confirmed six banks have received approval in principle to list on the ESX Main Market. Awash, Dashen, Bank of Abyssinia, Abay, Anbesa, and Amhara banks are finalising securities registration with the Ethiopian Capital Market Authority and completing prospectus disclosures, the final regulatory steps before listing and the start of trading. The move signals growing momentum as Ethiopia shifts from market launch toward active capital formation ahead of the fiscal year-end.Sasini Shares Jump 59% on KSh 7.9bn Land Sale
Sasini shares have surged about 59% in six trading sessions, closing at KSh 32.00 on Friday, February 13, from KSh 20.10 on February 5, after its FY2025 annual report disclosed an agreed KSh 7.9 billion sale of the Gulmarg Division in Mweiga Estates, Kiambu CountyMorocco Overtakes Kenya as Africa’s Leading Avocado Exporter
Morocco has overtaken Kenya as Africa’s leading avocado exporter, with shipments soaring while Nairobi's exports stumbled amid logistical bottlenecksPresident Ruto Reappoints CMA Chair Ugass Mohamed
Capital Markets Authority leadership has been renewed after President William Ruto and Treasury CS John Mbadi reappointed the chairperson and five board members for fresh three-year terms effective February 24, 2026. Ugass Mohamed retains the non-executive chair role, alongside Natasha Aduwo, Elena Pellegrini, Meshack Kiprono, Gibson Maina, and Prof. Michael Bowen, extending board continuity as the CMA steps up licensing and market development activity.Finance Committee Retreats to Draft Report on Safaricom Stake Sale
Public hearings on the government's proposal to offload 15% of its stake in Safaricom have closed amid mounting public concern over how the proceeds would be used
