Browsing: M-Akiba

Kenya’s capital markets performed dismally in the second quarter of the year, latest data shows, despite political stability and growing interest from foreign-based investors.

The Capital Markets Authority (CMA) report for the quarter ended June 2019 shows secondary equities market registered slow activity during the review period.

Equity turnover for Q2.2019 stood at Ksh32.89 billion (US$316.3million), compared to Ksh45.25 billion(US$435.1million ) registered in the previous quarter; a 27.31 per cent decrease.

Similarly, market capitalization recorded a 3.46 per cent decrease to Ksh2.278 trillion (US$21.9billion) from Ksh2.360 trillion(US$22.7billion)in Q1. 2019.

READ ALSO:NSE dips as 2018 ends on a bear market territory

Traded volumes followed the same trend, falling by 3.46 per cent to 1.39 billion during the period under review.

Other composite indicators such as the NSE All Share and NSE 20 Shares indices likewise recorded decreases of 5.11 per cent and 7.51 per cent closing the quarter at 149.61 …

The Kenyan government has once again gone to the market with its unique mobile phone based bond M-Akiba, as it seeks to raise funds to support infrastructure development in the country.

In a second issue this year, the National Treasury has re-opened the retail infrastructure bond as targeting to raise Ksh250 million (US$2.47million).

The bond was opened to the public on Monday, May 27, and will run up to Friday June 7, 2019. The value date shall be on Monday, June 10, 2019 and will start trading at the NSE on Tuesday, June 11, 2019, the government has said.

“Following the successful uptake of M-Akiba Retail Infrastructure Bond in March which attracted 79 per cent subscription rate, The National Treasury, the Central Depository and Settlement Corporation and the Nairobi Securities Exchange have jointly reopened the M-Akiba Retail Infrastructure Bond Issue No MAB/2/2017/03 to offer Kenyans another opportunity to invest in …