Kenya | - Part 31

Investment | DOB Equity invests in Kenyan tech-enabled food wholesaler

NAIROBI, Capital Markets in Africa: DOB Equity, a leading Dutch family office, announced that it had taken a minority stake in Twiga Foods, the Kenyan wholesaler, to expand its reach in the fast growing African micro-vendor food market. DOB Equity says Twiga Foods’ integrated and tech-enabled business model reduces costs and increases convenience for vendors in Nairobi by allowing them to buy fruit and vegetables through their mobile phone and delivering supplies directly to retailers’ stalls….

Kenyan Treasury Secretary Says Banks Making Too Much

Posted on by The Editorial Team

NAIROBI, Capital Markets in Africa: Kenyan banks have been “expropriating too much profit” from the interest rates they charge on loans and have room to lower borrowing costs, Treasury Secretary Henry Rotich said. Lawmakers in East Africa’s biggest economy approved a bill last month that will limit the amount of interest banks can charge on loans to four percentage points above the central bank’s benchmark rate. The proposal is awaiting President Uhuru Kenyatta’s signature before it becomes law….

African Eurobond | Aberdeen Sees Opportunity for Kenya to Tap Eurobond Market

Posted on by The Editorial Team

NAIROBI, Kenya, Capital Markets in Africa: With yields on its existing dollar debt near a record low and global investors clamoring for returns, Kenya should seize the opportunity to wade into the Eurobond market for the second time in two years, according to Aberdeen Asset Management Plc. East Africa’s biggest economy will borrow 462 billion shillings ($4.5 billion) from external lenders this fiscal year to help a plug a widening budget deficit, according to budget…

Kenyan Lawmakers Escalate Battle Against Banks to Cap Rates

Posted on by The Editorial Team

NAIROBI, Kenya, Capital Markets in Africa: Kenyan lawmakers are threatening to overrule President Uhuru Kenyatta if needed to force the country’s banks to lower their lending rates. The country’s parliament on July 28 approved a bill that will limit the amount of interest banks can charge on loans, with the proposal only needing Kenyatta’s signature to become law. The proposals jolted lenders into signing a memorandum of understanding with the Central Bank of Kenya that commits them to…

Kenya Banks Commit to Cutting Rates After Lawmakers Threaten Cap

Posted on by The Editorial Team

NAIROBI, Kenya, Capital Markets in Africa: Kenyan banks committed to lowering commercial lending rates after lawmakers proposed imposing a limit on how much interest lenders can charge. Lenders in East Africa’s biggest economy signed a memorandum that sets out measures to boost lending, including allocating 30 billion shillings ($295 million) to small- and medium-sized enterprises and women at concessionary rates, Lamin Manjang, chairman of the Kenya Bankers Association said Wednesday. Banks will also enhance their business…

Kenya Must Curb Borrowing to Keep Debt Affordable, IMF Says

Posted on by The Editorial Team

NAIROBI, Kenya, Capital Markets in Africa: At the rate Kenya is borrowing to fund its spending, the East African nation could accumulate more debt than it can afford to repay comfortably, according to the International Monetary Fund. While the nation’s current debt stock is sustainable at 49.8 percent of gross domestic product, the Treasury has at times struggled with cash management because of maturities coming in very close together, Armando Morales, the IMF’s resident representative in…

Kenya’s Corporate Governance Practices Code, 2015

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: The Kenyan Capital Markets Authority (the Authority) has issued a code of corporate governance known as the Code of Corporate Governance Practices for the Issuers of Securities to the Public 2015 (the 2015 Code). The 2015 Code has replaced the Guidelines on Corporate Governance Practices by Public Listed Companies in Kenya, 2002 (the “2002 Guidelines”). It applies to all companies that issue both debt and equity securities to the…

« 1 … 29 30 31 32 33 … 51 »