The Capital Markets Authority (CMA) has granted approvals to several firms across various license categories, bolstering the development of capital markets as well as promoting the growth of Kenya’s financial sector. AKN Investments Limited been at the forefront of this development, receiving approval to upgrade its license from Investment Advisor to Authorized Securities Dealer. This enhancement will enable the firm to broaden its service offerings to institutional investors, potentially catalyzing increased institutional participation in the Kenyan capital markets. Simultaneously, Moran Capital Management Limited has secured a license as an Investment Adviser. This allows the firm to focus on diverse areas…
Author: Antony Mutunga
Antony Mutunga
Antony Mutunga holds a Bachelors degree in Commerce, Finance from Jomo Kenyatta University of Agriculture and Technology. He previously worked for Altic Investment & Consultancy before he joined NBM team in 2015. His interest in writing ranges from business, economics and technology. He is also our lead researcher in matters business.
Contrary to expectations following the government’s promotion of Kenya as a visa-free destination, the East African nation has been ranked 46th out of 54 countries on the continent, according to the 2024 Africa Visa Openness Index (AVOI). The AVOI, which measures the extent to which African countries are open to visitors from other African countries, assigned Kenya a score of 0.113. This reflects the challenges faced by African citizens when attempting to travel to Kenya, despite recent policy changes aimed at facilitating easier entry. The country’s poor ranking can be largely attributed to the introduction of the Electronic Travel Authorization…
Smart Applications International (Smart), a renowned tech company with extensive regional expertise and ISO certification, has launched an advanced digital system to transform healthcare services and streamline patient operations in Kenya. This innovative solution leverages cutting-edge technology to improve access to quality healthcare across Africa. The launch event, held under the theme “Empowering Healthcare Access Through Patient-Centered Care,” brought together healthcare providers and industry leaders to advance transformative healthcare delivery. It also served as a valuable platform to spotlight the key accomplishments and pressing issues within Kenya’s healthcare landscape, fostering important dialogue and awareness around these critical matters. According to…
Kupa Kenya, a local insurance provider has entered into a partnership with Chinese technology giant, Huawei to implement an artificial intelligence customer care (AICC) solution, that aims to enhance customer service capabilities in the insurance sector. The AICC solution system is designed to streamline customer interactions, enhance service efficiency, and offer real-time assistance, ensuring a seamless and satisfying experience for all users. With the system already operational in China and a success, it is to be rolled out in Kenya from January 2025 with full implementation expected by July 2025. According to John Onyango Otolo, CEO of Kupa Kenya, the…
Kenya’s decline into fiscal trouble has been a long time coming. And it has never been more evident as it is now, with the rise of layoffs. In fact, as the year comes to an end, they have only intensified. G4S and Tile & Carpet Centre are the latest companies to announce significant job cuts, painting the current grim picture of Kenya’s economic landscape. G4S Kenya Limited, a major player in the security services industry, has announced a significant redundancy exercise set to impact approximately 400 employees while Tile & Carpet Centre (T&C), a key player in the construction and…
In a move that has received as much criticism as it has praise, the European Parliament confirmed a one-year delay in implementing the European Union’s Deforestation-Free Products Regulation (EUDR). For coffee producers and exporters in Kenya, the decision comes as a double-edged sword, especially as a result, of the amendments introduced to ensure compliance. The EUDR, originally set to take effect on December 30, 2024, aims to ensure that commodities including coffee, cattle, cocoa, oil palm, rubber, soya and wood imported into the EU are not cultivated on land that has been deforested after December 31, 2020. The delay is…
NCBA Bank Plc has entered a strategic partnership with Xpress Money, a global leader in cross-border payment solutions, to offer efficient remittance services to the growing market. The two parties signed a Memorandum of Understanding that will see NCBA customers gain access to Xpress Money’s vast network spanning over 160 countries and encompassing more than 185,000 partner locations worldwide. The customers will benefit from a number of remittance options, including Cash-to-Cash transfers, Account Credits, and Mobile Wallet services. Infact, the MoU comes at a time that NCBA had been focusing on digitization. According to Tirus Mwithiga, NCBA Group Retail Director,…
Equity Group Holdings Plc and DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH have entered into a partnership that aims to provide comprehensive relationship management and financial services to European SMEs and their local partners in the region. The partnership has launched a German Desk for the East African market. It will offer a wide range of services, including account opening, trade facilitation and finance, transaction banking, credit lines, introductions and investment through financing. Not only will the desk leverage the expertise of DEG and Equity Bank but that of the German Chamber of Commerce and Industry (DIHK). According to Petra…
The Nairobi Securities Exchange (NSE) has announced the addition of three Kenyan companies in the Morgan Stanley Capital International (MSCI) Frontier Markets Small Cap Index, a move that is expected to boost the visibility of Kenyan stocks to international investors and potentially drive substantial capital inflows to the NSE. Kenya Power and Lighting Company PLC, Carbacid Investments PLC, and Bamburi Cement PLC will be the three to join the MSCI small cap index. The index already includes Kenya’s BAT Kenya PLC, Diamond Trust Bank Kenya, KenGen, and Kenya Re. With the number of Kenyan firms listed on index now at…
The series of tax measures that the government has been proposing are set to increase as a response to the mounting economic pressures it has been facing including the recent default on the loan borrowed from China to build the Standard Gauge Railway (SGR). Already making progress with the Tax Laws (Amendment) Bill, 2024 and Tax Procedures (Amendment) (No.2) Bill, 2024, that are meant to boost the government’s coffers, the administration is now in need of more revenue following it’s growing expenses. For instance, the recent default of the Sh167.5 billion loan by the Kenya Railways Corporation. The loan which…