• The latest Nairobi Securities Exchange monthly Barometer shows month-on-month growth comparing January this year and December last year, with prospects looking much better after a bear run last year.
• Market capitalisation increased by 0.08 per cent in January to $9.11 billion from $9.05 billion in December 2023.
• The NSE 20 and NSE 25 Share Index recorded increases in activity of 0.89 per cent and 1.32 per cent, respectively, while the All-Share Index experienced a 0.08 per cent increase.

Nairobi Securities Exchange showing recovery signs

Kenya’s capital market is showing a sign of recovery this year, with the Nairobi Securities Exchange (NSE) recording a gain in January, albeit minimal, as large stocks pay investors.

This is despite interest rates in advanced economies remaining high into 2024, a trend that has seen foreign investors focus on home markets, mainly the United States.

The latest NSE monthly Barometer shows month-on-month growth comparing January …

• Fixed-income securities are a broad class of very liquid and highly traded debt instruments.
• Data shows that the average turnover of Kenya’s bond market is over $4.55 billion, and NSE and EABX are now vying for this market share. 
• The choice to merge OTC and onscreen trading will allow market players a flexible way to execute trades on the bond market.

The Nairobi Securities Exchange will soon offer a secondary bond market that combines both onscreen and Over-the-Counter (OTC) trading of fixed-income securities following regulators’ approval. Capital Markets Authority approved amendments to NSE Fixed Income Trading Rules.

In the amendments, Kenya’s capital markets regulator licensed the East African Bond Exchange (EABX) to operate an over-the-counter (OTC) trading platform, likely to drive up competition in the bonds market. An OTC market is a platform that facilitates transactions between traders without requiring them to go through an official securities exchange.

NSE Chief …

• Japan’s Toyota Tsusho Corporation will invest $5 million (KES800 million) in the Kenya Thika Vehicle Manufacturing initiative.
• A total of $93.7 million (KES 15 billion) will go towards the Meru Wind Farm Energy project, while $49.9 million (KES8 billion) will be invested in the Isiolo Solar Energy initiative.
• Japan is also readying $468.5 million (KES75 billion) for Kenya’s Menengai Geothermal Plant, as the Asian country promotes clean energy solutions.

In a move poised to reshape Kenya’s industrial landscape, Kenya and Japan have jointly announced plans to invest an estimated $617.2 million in East Africa’s largest economy, with a focus on bolstering key sectors of vehicle manufacturing and renewable energy.

This investment initiative marks a pivotal moment in the bilateral relations between Kenya and Japan, promising to unlock new opportunities for economic growth, employment for the youth, and sustainable development.

The cornerstone of this investment endeavor was laid this week with …

• According to authorities, tapping into DRC’s mineral wealth will yield significant returns for investors and contribute to the Congolese population’s socio-economic advancement.
• This strategic approach resonates with President Félix Antoine Tshisekedi’s agenda to foster job creation and entrepreneurial opportunities.
• Canadian mining giant Ivanhoe Mines is cited as an example of a “modern investor” doing business in DRC.

The Democratic Republic of Congo (DRC) is embarking on a bold mission to harness its untapped mineral wealth, valued at $24 trillion, by courting “modern investors” to drive its mining-powered development plan.

At the forefront of this initiative is Mr. Miguel Kashal Katemb, the Director General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP), who articulated the nation’s aspirations at the 30th annual Mining Indaba in Cape Town, South Africa.

In his address to the audience of investors, Mr Katemb underscored the DRC’s openness to all investors while emphasising the …

• By 2030, partners of the Southern Agricultural Growth Corridor of Tanzania (SAGCOT) aim to cultivate 350,000 hectares of land for profitable production.
• Using the SAGCOT model, Tanzania aims to achieve self-sufficiency in food production to feed Africa by the same year.
• Agriculture in Tanzania currently contributes nearly 30 percent of the country’s GDP and employs over three-quarters of the nation’s workforce..

The Southern Agricultural Growth Corridor of Tanzania (SAGCOT) has achieved significant success over the last decade since its establishment in 2010. Tasked with promoting inclusive, sustainable, and viable agricultural value chains in southern Tanzania, the organization has notably enhanced agricultural productivity.

SAGCOT has established production clusters, including Ihemi, Mbarali, and Kilombero, in southern and Morogoro. Through these agricultural clusters, SAGCOT has successfully increased food production, developed value chains, and elevated household income for farmers.

“I am truly impressed with the work of the SAGCOT Centre Limited and its …

• The Romania-Tanzania alliance is taking shape with President Iohannis signing two major trade MoUs with the African country.
• This is part of Tanzania President Samia’s move to woo European investors to her country’s agriculture sector.
• Romania-Tanzania ties seem to offer immediate gains with the European country assuring Dar es Salaam of food security even as the Ukraine-Russia war persists.

A fresh alliance, Romania-Tanzania, is taking shape, with the European country betting on the East African nation to grow its presence and influence on the continent significantly as it forges “strategic approaches to Africa.”

President Klaus Iohannis made the assertion during his recent visit to Tanzania. In a four-day state tour, he engaged with the government and investors in Tanzania’s mainland and the island of Zanzibar.

During his visit, at least two Romania-Tanzania agreements were signed by President Iohannis and his counterpart, Dr. Samia Suluhu Hassan.

Romania-Tanzania strategic partnership

While the …