For 2024, in the local markets, we expect interest rates to remain elevated in the short to medium term on the back of heightened borrowing by the government to pay the upcoming debt maturities as well as fund its widening budget deficit, currently projected at 5.5% of GDP, up from the prior June estimate of 4.4% of GDP for the FY’2023/24.
December 2023 in the global markets presented a diverse landscape of opportunities. This was driven by stable prices for goods and services, showcasing the economy’s ongoing strength.
We are thrilled to share the news of our collaboration with Ndovu.co for the distribution of their products. Ndovu is an advanced investment platform provider licensed by the Capital Markets Authority.
The equities market’s performance was primarily influenced by the losses suffered by large-cap stocks such as KCB and Safaricom, which plummeted by 16.1% and 14.7%, respectively.
The Capital Markets Authority (CMA) has approved the issuance of the country’s first-ever Sukuk Bond by Linzi Finco Trust. The Sukuk targets raising KSh 3 Bn and proceeds from the bond will be used to develop over 3,000 institutional housing units. The Sukuk will offer an internal return of 11.13%.
The Capital Markets Authority (CMA) granted approval for the issuance of the country’s first-ever Sukuk Bond (“Sukuk”). The bond is the first ever Sharia-compliant bond in Kenya and is issued by Linzi Finco Trust.
What is the NSSF Act 2013? The National Social Security Fund (NSSF) is a statutory body established under the National Social Security Fund Act No. 45 of 2013. The previous NSSF Act of 1965 was replaced by the NSSF Act of 2013 after the NSSF Bill 2013 was passed by the National Assembly on 4th…
Over the last two months, a new player, Lofty Corban Money Market Fund, has entered the market. Another eye-catching update that deserves mention is Zimele Money Market Fund changing its name to Zimele Fixed Income Fund.
Investors continued to show preference to the shorter-term 91-day paper, which can be attributed to investors continuing to see short-term risks in the market especially due to the heightened political risk in the country.
Understand the risks of bond default payment by the government and explore strategies such as extended duration and haircuts to mitigate potential losses. Protect your investments with informed decisions.
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