• Despite increased market volatility compared to the previous quarter, the outflows remained relatively low, under one percent.
• To address liquidity challenges, the Capital Markets Authority plans to collaborate with key market stakeholders.
• Increase in interest returns from Government securities continues to shift investments away from the domestic equities market.

Foreign investors in Kenya cut their equity outflows in the capital markets by $87 million in the three months to June as the market showed signs of gradual recovery from the impact of high interest rates and global shocks.

In the quarter, foreign investors withdrew $10.5 million, a significant decrease compared to the $98 million net outflow seen in the first quarter. Despite increased market volatility compared to the previous quarter, the outflows remained relatively low, remaining below one percent.

In Kenya, there are still some risks associated with foreign investors’ flight, said Luke Ombara, the Director for Policy & Market …

• Kenyan water firms are seeking about $7.1 billion from the capital markets for various projects. 
• The initiative is a liaison between the Kenya Association of Stockbrokers & Investment Banks and the Eldoret Water and Sanitation Company.
• Traditionally, water service providers rely on tariffs, taxes, transfers, loans, bonds, and equity investments for funding.

Kenyan water firms have received the greenlight to secure fresh financing through the capital markets. Data shows that the utilities want to plug a funding shortfall of about $7.1 billion required for water projects.

The development comes following a collaboration between the Kenya Association of Stockbrokers and Investment Banks and the Eldoret Water and Sanitation Company.

KASIB and Eldoret Water and Sanitation Company partnership will establish alternative financing options through the bourse.  The deal paves the way for water companies in Kenya to explore ways of raising capital through the stock market.

Water funding shortage in Kenya

Overall, …

• Kenya National Oil Corporation CEO Gideon Morintat will lead talks on the untapped potential of East African energy market in October forum.
• With 1.4 billion barrels of recoverable crude oil reserves and significant gas resources, Uganda ranks among Africa’s fastest growing energy markets.
• In the renewables and power sectors, Uganda is diversifying energy mix by maximizing biomass, nuclear, solar and green hydrogen production.

Kenya’s oil and gas sector may be modest today, but stakeholders are joining forces to harness East Africa’s (EA) energy potential as significant discoveries across countries raise the stakes for investors.

At the upcoming African Energy Week (AEW), which will go on between October 16-20 in Cape Town, Leparan Gideon Morintat, the CEO of the Kenya National Oil Corporation (NOC), will lead discussions on the untapped potential of the East African energy market.

Engaging with a diverse range of investors and project developers, Morintat aims to attract …

• Presidents Cyril Ramaphosa and Felix Tshisekedi agree on exploring electric batteries deal during a bilateral business forum in Kinshasa.
• Another agreement will see the revival of the 11GW Inga 3 hydropower project on the Congo River.
• President Ramaphosa terms DRC as the “beating heart” of Africa in a meeting with Tshisekedi and hundreds of industrialists.

President Cyril Ramaphosa has won big in his talks with his Democratic Republic of the Congo (DRC) counterpart where a deal on the manufacture electric batteries will be explored.

Presidents Felix Tshisekedi and Ramaphosa undertook to ensure the implementation of various agreements concluded during the 12th session of the Joint Grand Committee.

DRC’s lithium vital in electric batteries

In light of the DRC’s abundant lithium mineral reserves, the production of electric batteries is an excellent area of cooperation between South Africa and the DRC.

Lithium helps make lithium-ion batteries, which are key cog of the …

• Seven Responsible Care Codes will serve as the framework for the project by Kenyan manufacturers.
• The codes are community awareness and emergency response; employee health and safety; product stewardship; process safety; pollution prevention; distribution; and security.
• Industry lobby KAM says the new strategy will support competitiveness on a worldwide scale.

Industry lobby the Kenya Association of Manufacturers (KAM) has committed members to promote the safe use of chemicals throughout the manufacturing lifecycle.

The move follow’s a pledge this week by KAM members to continuously improve the manner in which they handle chemicals. The lobby said the commitment will be under a new campaign dubbed the Responsible Care Initiative – Kenya Chapter.

KAM Chief Operating Officer Tobias Alando said through the Chapter, KAM member companies will run open and transparent reporting on how they handle chemicals as per the Responsible Care guiding principles.

“Our mission is to promote and facilitate safe …

Regional insurer Jubilee Holdings Limited has cut dividend payout to shareholders to $6.18 million in 2022 from $6.69 million a year earlier. The declaration follows shareholders’ endorsement of the payment of a dividend of $0.064 per share plus a special dividend of $0.021 per share during the 2022 Annual General Meeting (AGM).…