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<p>Three of Kenya’s blue chip companies have seen a fall in third quarter performance as companies start to grapple with the effects of the COVID-19 fallout. Economic Analyst, Odhiambo Ramogi, spoke to CNBC Africa on the latest market updates from the Nairobi Securities Exchange.</p>


How COVID-19 affected the performance of Kenyan banks in third quarter

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<p>The NSE 20 Share Index declined by 0.3 per cent or 5.32 points to 1,743 from the previous 1,748. The 25 Share Index on the other hand increased to 3,071 or by almost 1 per cent from the previous 3,044 points yesterday. The Chairman of the Nairobi Securities Exchange, Kiprono Kittony joins CNBC Africa to look at the bourse’s half year results.</p>


Kiprono Kittony breaks down the NSE’s half-year results & COVID-19 impact

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<p>Since March, there has been a decline in trade at East Africa’s biggest bourse but could this be a sign for deeper financial troubles for the region’s biggest economy? Nairobi Securities Exchange, CEO Geoffrey Odundo joins CNBC Africa for more on this.</p>


NSE’s Geoffrey Odundo on the economic impact of COVID-19

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<p>The values of blue chip companies on the Nairobi Securities Exchange has increased despite the COVID-19 pandemic. CNBC Africa’s Arnold Kwizera spoke to the Chief Executive Officer at the Nairobi Securities Exchange, Geoffrey Odundo for more on this.</p>


Geoffrey Odundo on how the NSE is responding to COVID-19 crisis

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<p>In Kenya, the banking sector continues to dominate activity at the Nairobi Securities Exchange with shares worth Ksh775 million transacted, which accounted for 48.27 per cent of the traded value in the week that ended on 30th April 2020. Moreover, the Central Bank of Kenya announced the insurance of a 5-year Ksh50 billion bond for budgetary support in May with the auction date set for Wednesday 6th of May. The market-determined bond will mature in May 2025 with CBK encouraging investors to use treasury mobile direct or internet banking to purchase the bond. Joining CNBC Africa for more is Rodney Omukhulu, Assistant Investments Analyst at Cytonn.</p>


Central Bank of Kenya issues a 5-year Ksh50bn bond for budgetary support

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<p>Kenya&#8217;s coffee sector received close to $14 million from World Bank, to boost the production of speciality coffee and link farmers to direct markets in order to eliminate the issue of cartels. Moreover, the Capital Markets Authority announced that it will allow listed companies on the Nairobi Securities Exchange to pay dividends without holding annual general meetings. Rodney Omukhulu, Assistant investments Analyst joins CNBC Africa for more.</p>


Kenya receives $14mn World Bank support to boost coffee production

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<p>In Kenya, Foreign investors withdrew about $106 million from the Nairobi Securities Exchange in February and March, leading to a sharp fall in the value of blue chip stocks like Safaricom and Equity Bank Group. Also, Moody&#8217;s has warned that measures put in place to shield Kenya’s banks from disruptions associated with the coronavirus outbreak, might not hold should the situation worsen. Rodney Omukhulu, Assistant Investments Analyst at Cytonn joins CNBC Africa for more.</p>


Tracking movements shaping the Kenyan market space amid COVID-19 crisis

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<p>The Nairobi Securities Exchange shed more than half a trillion Kenyan shillings as investors reacted to cases of COVID-19 on the country&#8217;s economy. Felix Otieno, Investment Analyst from Cytonn Investments joins CNBC Africa for more.</p>


Kenyan institutions cooperating with govt. in combating COVID-19 outbreak

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<p>According to latest data from the Controller of Budget in Kenya 25 of the 47 counties spent nothing on development in the first quarter to September, hurting job creation and infrastructure projects in the devolved units. This is a 45 per cent drop compared to the $34.6 million governors spent on development activities in a similar period a year ago. Also, commercial banks are on course to post another full-year of double-digit growth in profits. Moreover, Kenya’s first green bond started trading on the Nairobi Securities Exchange for the first time. Reginald Kadzutu, Economic Analyst joins CNBC Africa for more.</p>


Kenya’s first green bond starts trading on the NSE

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<p>The Nairobi Securities Exchange (NSE) benchmark index went up by 74 per cent in the last ten years becoming the best performing stock exchange market in Sub-Sahara Africa (SSA) during that period. Rodney Omukhulu, Assistant Investment Analyst at Cytonn joins CNBC Africa for more on open trading performance for 2020.</p>


How Kenya’s NSE index surged by 74% a decade on

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<p>Equity Bank is in talks to acquire a 66.5 per cent stake in a top bank in the Democratic Republic of Congo (DRC), Banque Commerciale du Congo. The Nairobi Securities Exchange-listed bank said it will pay $105 million in cash for the 625,354 shares owned by George Arthur Forrest family inclusive of dividends that the bank will declare after 1 January. Analyst, Odhiambo Ramogi joins CNBC Africa for more.</p>


Equity Bank eyes stake in DRC’s Banque Commerciale du Congo

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<p>The stock market indicators at Nairobi Securities Exchange show a market on the decline between January and September 2019. Also, The Kenyan government has reached a deal with Mauritius to amend the nullified double tax deal on businesses and individuals who stash away cash. Caleb Mugendi, Assistant Manager of Public Markets at Cytonn Investments joins CNBC Africa for more.</p>


Is NSE’s declining performance a mirror the wider economy in Kenya?

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<p>This week, shares for Mumias Sugar Company Limited were halted from trading at the Nairobi Securities Exchange following the appointment of a receiver manager by KCB Bank mainly due to the default in loans the bank provided to the firm. To digest this and much more, Caleb Mugendi, Assistant Manager of Public Markets at Cytonn Investments joins CNBC Africa.</p>


Mumias Sugar suspended from trading on NSE

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<p>On the Nairobi Securities Exchange, share prices of a number of firms have fallen mainly due to a mix of corporate governance weaknesses, a tough economy and over-indebtedness. Five of the stocks are trading below one shilling and 17 listed firms have fallen below Ksh5 per unit in a stock market bear run. Caleb Mugendi, Assistant Manager at Public Markets Cytonn Investments joins CNBC Africa for more.</p>


Investor losses as 17 firms fall below Sh5 per share in NSE bear run

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<p>Turnover at the Nairobi Securities Exchange (NSE) fell by 30 per cent to $318.5 million in the second quarter of the year compared to a similar period in 2018 as dropping share prices discouraged trading. Market data shows the average daily traded turnover in the market declined from $7.55 million in the second quarter of 2018 to $5.21million this year, with local participation in the market declining. Ian Kagiri, Investment Analyst at Cytonn Investment joins CNBC Africa for more.</p>


NSE turnover drops by 30% in second quarter

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<p>Yesterday on the Nairobi Securities Exchange trading floor, My Space Properties became the first real estate company to be admitted into their Ibuka incubator program and only the second to be listed on the Stock Exchange. CNBC Africa is joined by the company&#8217;s CEO, Mwenda Thuranira, to discuss not only what this means for his company but what it could mean for the sector at large in Kenya.</p>


First property firm admitted to Nairobi Securities Exchange incubator

<p>NAIROBI (Reuters) &#8211; Rwanda’s Bank of Kigali will spend more than half of the $67.5 million it raised from a cash call this month to boost lending to local firms, its chief executive said.</p>
<p>The economy of the East African nation, one of the fastest growing in the region, is expected to expand by 6-7 percent this year on the back of rising exports, driving demand for borrowing by firms to fund expansion, said the CEO.</p>
<p>“Around $40 million of the capital we have raised is going to go into our banking business. This will allows us to lend more and increase our single (borrower) limit,” Diane Karusisi told Reuters after some of the bank’s shares were listed on the Nairobi bourse.</p>
<p>“To the blue chip companies in our country this is very good news because we will be able to support the growth opportunities.”</p>
<p>MTN Rwanda, the biggest mobile operator, closed a syndicated loan deal for 50 billion francs ($56 million) with eight local lenders this week, showing the potential for corporate lending, Karusisi said.</p>
<p>“We have many similar opportunities in Rwanda,” she said.</p>
<p>A portion of the balance of the funds raised by the bank, which is the biggest lender in the country, would go towards setting up a life insurance business. About $10 million will go towards bolstering its IT systems to support digital banking.</p>
<p>“We believe that just like the Kenyan market has done, we are going to be able to provide all financial services at the fingertips of our clients on mobile,” Karusisi said.</p>
<p>Bank of Kigali is the first Rwandan company to list on the Nairobi Securities Exchange and the second in East Africa after Ugandan power firm Umeme, which listed shares in 2012.</p>
<p>Bank of Kigali shares came at a reference price of 30 shillings ($0.29) and bidders were offering 32.50 shillings after trading started.</p>
<p>($1 = 889.8493 Rwandan francs)</p>
<p>($1 = 102.5000 Kenyan shillings)</p>
<p>Reporting by Duncan Miriri; Editing by Robin Pomeroy</p>


Nairobi Securities Exchange

How COVID-19 affected the performance of Kenyan banks in third quarter

Kiprono Kittony breaks down the NSE’s half-year results & COVID-19 impact

NSE’s Geoffrey Odundo on the economic impact of COVID-19

Geoffrey Odundo on how the NSE is responding to COVID-19 crisis

Central Bank of Kenya issues a 5-year Ksh50bn bond for budgetary support

Kenya receives $14mn World Bank support to boost coffee production

Tracking movements shaping the Kenyan market space amid COVID-19 crisis

Kenyan institutions cooperating with govt. in combating COVID-19 outbreak

Kenya’s first green bond starts trading on the NSE

How Kenya’s NSE index surged by 74% a decade on

Equity Bank eyes stake in DRC’s Banque Commerciale du Congo

Is NSE’s declining performance a mirror the wider economy in Kenya?

Mumias Sugar suspended from trading on NSE

Investor losses as 17 firms fall below Sh5 per share in NSE bear run

NSE turnover drops by 30% in second quarter

First property firm admitted to Nairobi Securities Exchange incubator

Here’s what Rwanda’s Bank of Kigali is setting aside $40m for…

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Nairobi Securities Exchange

How COVID-19 affected the performance of Kenyan banks in third quarter

Kiprono Kittony breaks down the NSE’s half-year results & COVID-19 impact

NSE’s Geoffrey Odundo on the economic impact of COVID-19

Geoffrey Odundo on how the NSE is responding to COVID-19 crisis

Central Bank of Kenya issues a 5-year Ksh50bn bond for budgetary support

Kenya receives $14mn World Bank support to boost coffee production

Tracking movements shaping the Kenyan market space amid COVID-19 crisis

Kenyan institutions cooperating with govt. in combating COVID-19 outbreak

Kenya’s first green bond starts trading on the NSE

How Kenya’s NSE index surged by 74% a decade on

Equity Bank eyes stake in DRC’s Banque Commerciale du Congo

Is NSE’s declining performance a mirror the wider economy in Kenya?

Mumias Sugar suspended from trading on NSE

Investor losses as 17 firms fall below Sh5 per share in NSE bear run

NSE turnover drops by 30% in second quarter

First property firm admitted to Nairobi Securities Exchange incubator

Here’s what Rwanda’s Bank of Kigali is setting aside $40m for…

News Tips

Advertise With Us

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