Our highlights of Week 44 of 2024 begins with:
- The 91 Day T-Bill, which is a benchmark rate for money market funds, is down to 14.43% this week from the 14.76% recorded last week. Market demand for this paper was high as investors sought to lock in the current returns, seeing the government raise Ksh 19.3Bn out of the Ksh 4.0 Bn that was on offer
- The Nairobi Securities Exchange, under the leadership of Frank Mwiti, has expanded its offering once again. The bourse has announced it will now allow investors to trade Options Derivatives on its Derivatives Market, to meet market demand.
- The Nairobi Securities Exchange (NSE) also held a Bell Ringing Ceremony to celebrate Acorn Holdings Limited’s successful redemption of its KSh 5.7 billion green bond, originally issued in 2019.
- And in an interesting turn of events, Savannah Clinker has increased its takeover bid for Bamburi Cement from KSh 70 to KSh 76.55 per share, totaling KSh 27.78 billion, up from KSh 25.4 billion. This new offer surpasses Tanzania’s Amsons Group , who proposed KSh 23 billion.
- NCBA has introduced to the market two leasing solutions, the Solar PV and Executive leasing solutions. The bank, through its subsidiary, @NCBABankKenya Leasing LPP, aims to lead the way by providing businesses the opportunity to transition to renewable energy, reduce their carbon footprint, and lower energy costs with flexible financing solutions #NCBAChangetheStory #NCBAleasing
- Safaricom is celebrating 24 years of connecting and transforming the lives of Kenyans, with a yearlong series of activities themed “24 Years of Transforming Lives: Celebrating Through Service.”
The celebration includes special M-PESA surprises, merchandise giveaways, and community initiatives, reflecting the company’s commitment to innovation and social impact.
- Jubilee Health Insurance, in partnership with Diamond Trust Bank (DTB), launched a digital system for payment of insurance premiums. The option, known as Lipa Polepole, allows customers to pay premiums in flexible installments that match their budgets until completion.
- During the week, BURN, the world’s leading clean cooking appliance manufacturer, distributor, and carbon project developer, has secured a US$15 million investment from the European Investment Bank (EIB).
- But the highlight of the week for us was the X-Space that we held with HFC Group CEO, Robert Kibaara who shared his nuggets of wisdom on career choices but also shared key insights on how the bank is diversifying beyond real estate
- We also had a session for Diasporians on “Investing Back Home”. The goal was to review HF Group as a viable option in the investor’s wealth basket.
- Looking ahead, Kenyans continue to prepare for the upcoming 4th Abojani Economic Empowerment Conference that has been scheduled for 23rd November 2024 at Radisson Blu in UpperHill. Early bookings are still ongoing.
#Week 44 #Abojani
