Author: Jack Oduor

Since Covid-19 struck, developing nations have been battered by global external forces further dampening their growth prospects. Under the World Bank’s income classifications, the world currently comprises 28 low-income, 108 middle-income, and 81 high-income economies. Worse, the World Bank says, in more than a third of the poorest countries, incomes per head will be below 2019 levels in 2024. Economic indicators for Kenya and other developing nations have continued to depict a grim picture over the past four years, according to a new World Bank report. The global lender states that economic growth prospects for developing nations, including Kenya, for…

The Banking Sector had shares worth US$50,126 (Sh7.9 million) transacted which accounted for 63.34 percent of the day’s traded value at Nairobi Securities Exchange. In 2021, 8.7 million shares were traded worth $1.5 million (Sh242 million), while 2022 saw the number rise to 17.6 million shares valued at $4 million (Sh630 million). In the nine-month period leading up to September 2023, the NSE ranked as the least performing African bourse in dollar terms, underscoring the impact of foreign withdrawals and global shocks. Trading at the Nairobi Securities Exchange began 2024 on a four-year low on Tuesday, with 897,000 shares traded,…

The continent’s abundant resource base and untapped opportunities have already begun to attract European Investors, countries, and companies. Clear transition strategies and enhanced regulatory frameworks consolidate Africa’s attractiveness as an investment destination. With the resources available, many African countries – either oil producers or those on the verge – have begun implementing strategies to define a long-term vision for the sector. Amid supply challenges and efforts to diversify imports, Africa has emerged as a highly strategic investment opportunity for many European Investors, countries, and companies. The continent’s abundant resource base and untapped opportunities have already begun to attract players from…

Kenya’s Capital Markets Authority will examine corporate governance reporting templates and assessment methods for all its issuers. This initiative ensures continued relevance in the financial landscape while enhancing accuracy to align with global standards. The industry watchdog is also exploring integrating sustainability into the listing requirements. The Capital Markets Authority in Kenya is poised to conduct a comprehensive regulatory examination of corporate governance reporting templates and assessment methods for all its issuers. This initiative aims to ensure ongoing relevance in the financial landscape and enhance accuracy to align with global standards. Details contained in the regulator’s latest report indicate that…

Airtel Africa CEO Olusegun Ogunsanya has retired and will be replaced by Sunil Taldar, the new Managing Director and CEO. For the six months ending on September 30, the group reported a net loss of $13 million, Mittal further announced Ogunsanya’s post-retirement role as the Airtel Africa Charitable Foundation Chair. Airtel Africa CEO set to retire Airtel Africa PLC has announced that Chief Executive Officer Olusegun Ogunsanya will retire on 1 July 2024 and take an advisory role. Ogunsanya, who joined Airtel in 2012, ran the Nigeria Operations of the Telecommunications and Mobile Money Company for nine years before he was…

The Nairobi Securities Exchange (NSE) Share Value dropped from from US$60.3 million in September 2022 to US$33.3 million in September 2023. The NSE 20 Share Index also declined from 1,718 points in September 2022 to 1,508 points recorded in September 2023. Nairobi bourse hit by turbulence as investor sell off persisted in favour of other lucrative markets in the nine months to September 2023. The Nairobi Securities Exchange took a hit in the past year losing US$26.9 million (KSh4.2 billion) in the value of shares traded to reach US$33.33 million (KSh5.2 billion). Latest data contained in the Quarterly Gross Domestic…