NSE brings six banks on board ahead of derivatives market launch

The Nairobi Securities Exchange (NSE) has signed up six commercial banks to act as clearing members ahead of the upcoming trade in derivatives. NSE said the banks have been brought on to handle the Central Counter Party (CCP) clearing system that the bourse will use to trade derivatives. As clearance and settlement agents, the banks are the intermediary between two trading participants in the market [...]

CBA Uganda unit seeks approval to replicate M-Shwari loans model

The Commercial Bank of Africa’s (CBA) Uganda subsidiary has applied for a licence to launch an M-Shwari equivalent in the neighbouring country, seeking to replicate the success that the mobile banking service has recorded in Kenya. CBA Uganda has written to the Bank of Uganda (BoU) seeking the green light to launch a savings and loans mobile service by April in collaboration with MTN [...]

PE deals in East Africa more than doubled to Sh147bn in 2015

The value of private equity deals in East Africa more than doubled in 2015 mainly driven by activity in the financial services sector, a report by Burbidge Capital shows.
The 2015 annual East African financial review by Burbidge Capital says there were 40 private equity deals in the region with a reported value of $1.44 billion (Sh147 billion), up from 35 reported a year earlier worth [...]

Agriculture stocks chalk up huge price swings at the bourse

Agriculture stocks recorded the most significant price movements on Nairobi Securities Exchange Wednesday as small caps continued to attract attention of bargain hunters. Limuru Tea shed 9.7 per cent or Sh105, Kapchorua Tea also declined heavily by a near allowable maximum 9.9 per cent, Williamson Tea on the other hand was up 8.2 per cent [...]

Two Rivers Mall gets approval for Vision 2030 project status

Centum Investment’s mega real estate development Two Rivers and the Vision 2030 Delivery Secretariat have inked a deal that makes the multibillion-shilling venture a Vision 2030 flagship project, meaning it will receive technical support from the State. According to the memorundum of understanding [...]

Porsche beats Merc in Kenya luxury car sales chart

Kenya’s luxury car dealers booked record sales of 409 units last year, with the new brand Porsche emerging as the top-selling model relegating Mercedes to second place. Luxury car dealers including Porsche Centre Nairobi, DT Dobie, RMA Kenya and Simba Corporation registered a four per cent jump in sales last year compared to 394 units in 2014 [...]

Rising apartments supply stabilise prices in the Nairobi homes market

House prices have only increased marginally in the last three quarters thanks to new dominance by apartments, a situation the bankers’ survey says is an indication of stability in the property market. Kenya Bankers Association-House Price Index shows prices increased by under two per cent in the last three quarters of 2015 [...]

Remittances hit Sh154bn last year, easing pressure on falling shilling

Cash remittances from Kenyans working abroad rose 9.3 per cent last year cushioning the shilling from further drop. Diaspora remittances rose to Sh154 billion last year from previous Sh141 billion, cementing the source as Kenya’s top foreign currency earner. The remittances provided crucial support to the shilling at a time traditional sources of foreign currency were on a decline [...]