Kenya | - Part 21

INTO AFRICA March 2017 Edition: Africa’s Lions: Trust in Fundamentals

LAGOS, Nigeria, Capital Markets in Africa: Welcome to March edition of INTO AFRICA, the publication with fresh insight into Africa’s emerging capital markets. Please download by clicking: INTO AFRICA PUBLICATION: MARCH 2017 EDITION. Recent years have been challenging for Africa: so is the honeymoon over or did the wedding even take place? The oil price crash has had a serious impact on several African countries; the strength of the dollar is causing financing and FX issues; incidences of terrorism…

GM plans to sell stake in East African unit to Isuzu

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NAIROBI (Capital Markets in Africa) – General Motors Co on Tuesday said it plans to sell its majority ownership stake in General Motors East Africa to its Japanese partner Isuzu Motors Ltd, as the U.S. carmaker continues to streamline by exiting non-core operations. Isuzu will acquire GM’s 57.7 percent stake in the unit in Kenya, which produces trucks under the Isuzu brand and sells imported Chevrolet-brand vehicles. More than 90 percent of the vehicles sold…

Amethis and Metier to invest in East African firm, Kenafric Industries

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Johannesburg (Capital Markets in Africa) – Private equity firms Amethis Finance and Metier have partnered to acquire a minority stake in Kenafric food industry. The three companies, Kenafric, Amethis and Metier have been working together on a promising acquisition. Mikul Shah, Chief Executive Director of Kenafric Industries said the firm has reached critical size and intends to expand into a regional packaged food enterprise, leveraging on its existing strengths to broaden its product range and…

I&M Holdings acquires Giro Commercial Bank, Kenya

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Kenya (Capital Markets in Africa) – I&M Holdings, which owns of I&M Bank, yesterday announced that it has concluded acquisition of 100 per cent shareholding of Giro Commercial Bank. The bank said it would now convert Giro Bank branches to I&M Bank outlets. The conclusion of the transaction follows regulatory and shareholder approval. “The move underscores I&M Group’s expansion strategy, which seeks for opportunities to expand both locally and regionally by way of acquisitions,” I&M…

Kenya’s market regulator grants listing approval for first ETF

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NAIROBI (Capital Markets in Africa) – Kenya’s market regulator has allowed the listing of the country’s first-ever Exchange Traded Fund (ETF), which will track the price of gold, the regulator said on Friday. The Nairobi Securities Exchange has been investing in new infrastructure to include trading of new products like ETFs, to diversify from equities and bonds, its chief executive Geoffrey Odundo, told Reuters last November. The Capital Markets Authority (CMA) said in a statement…

South Africa’s Imperial buys stake in Kenyan pharmaceutical distributor

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JOHANNESBURG (Capital Markets in Africa) – South African logistics group Imperial Holdings will buy a 70 percent stake in Kenyan pharmaceutical distributor Surgipharm for $35 million in line with its African growth strategy, the company said on Wednesday. Surgipharm, which is headquartered in Nairobi, is a leading distributor of pharmaceutical, medical, surgical and allied supplies in Kenya, with an annual turnover of about $70 million, the company said in a statement. It gave no further…

Kenya’s 2017 Macroeconomic Fundamentals

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – The year 2017 is shaping up to be a year of stable growth, despite being an election year in the country. In this article, we highlight and discuss the macroeconomic fundamentals in Kenya, the key opportunities in different sectors of the economy, and finally discuss the key challenges facing the growth prospects of the country. Kenya is one of the fastest growing economies in the Sub-Saharan Africa region, with…

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