April 2024 Market Wrap-up Report
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April 2024 Market Wrap-up Report

There was a notable decrease in Treasury Bills yields in April. Treasury Bills are often considered a benchmark for short-term interest rates and the decline may serve as a signal that interest rates are on a downward trajectory. A decrease in T-Bill yields will likely lead to lower returns for money market funds, which typically invest in low-risk, short-term securities like Treasury Bills.

March 2024 Market Wrap-up Report

March 2024 Market Wrap-up Report

In March, the Kenyan shilling has experienced a consistent uptrend, appreciating by 16 percent against the US dollar since the beginning of 2024. This surge in value comes on the heels of the issuance of a $1.5 billion (Sh198.0 billion) Eurobond. The proceeds from this issuance were utilized to partially repurchase the June 2024 $2 billion (Sh264.1 billion) maturity, along with funding the significant oversubscription of the inaugural infrastructure bond issued earlier this year.

February 2024 Market Wrap-up Report

February 2024 Market Wrap-up Report

KenGen commissioned a feasibility study on generating power from geothermal brine, potentially increasing its renewable energy capacity, which could positively impact its revenues and expansion plans. KenGen reported a 9.2% y/y decline in net profit, despite a growth in top line, attributed to higher operating expenses impacted by currency depreciation.