Weekly Highlights! Here are some of the biggest stories that made headlines this week 51 of 2024:
1) The Central Bank of Kenya had set out to raise Sh 20 billion by reopening the 10-year bond FXD1/2024/010. CBK received bids worth Sh 53.6 billion and accepted Sh 43.4 billion. The coupon rate was set at 16.00%.
Also Read: Monthly Spotlight Report, November 2024 Edition
2) Treasury bills were undersubscribed. The Central Bank of Kenya offered Ksh 24 billion but received bids worth Ksh 16.60 billion, accepting Ksh 16.58 billion.The 91-day treasury bill interest rate stood at 10.03%.
3) Kenya Bankers Association appointed Raimond Molenje as its new CEO, effective December 1, 2024. Before his appointment, Mr. Molenje had been serving as the Acting CEO since March 2024.
4) The Rwanda Bankers and Kenya Bankers Compliance Forums signed a landmark MOU, demonstrating their commitment to advancing compliance excellence and raising standards across East Africa’s financial sector.
5) NCBA Group won four awards at the #2024FiReAwards, demonstrating its dedication to transparency, accountability, innovation, and exemplary standards in financial reporting. #NCBATwendeMbele #Goforit
6) Express Kenya PLC issued a profit warning, projecting a 25% drop in earnings for the year ending December 31, 2024, due to economic challenges and reduced demand.
7) TotalEnergies Marketing Kenya PLC has also joined the list of companies issuing profit warnings, projecting a decline of over 25% in its 2024 full-year profit after tax.
8) Sanlam Kenya Plc secured shareholders’ approval for a Ksh 3.25 billion rights issue, setting the stage for a financial boost to drive growth and profitability.
9) I&M Group Plc shareholders approved the allotment of up to 86.5 million new ordinary shares and an increase in share capital.
10) WPP Scangroup Plc appointed Miriam Kaggwa as Chief Operating Officer and Sanjeev Panwar as Chief Finance Officer, effective January 1, 2025.
11) Unga Group PLC has announced the appointment of Alan McKittrick as an alternate director to Mr. Jinaro Kibet.
12. Upcoming Event – Week 51 of 2024
- I&M’s interim dividend book closure date is scheduled for December 16th, offering Ksh 1.30 per share.
- BOC Kenya will be paying its final dividend of Ksh 6.05 per share on December 18th.
- HF Group will announce the results of its rights issue on December 20th, 2024.
13) Finally, kickstart your 2025 journey with Abojani’s Masterclass and get closer to achieving your financial goals.
In this masterclass, you will learn what to invest in, where to invest, and how to conduct due diligence before investing.
Additionally, you will have the opportunity to network with other like-minded investors and our tutors. #LevelUp2025
