Your Dose of Weekly Highlights – Week 43 of 2024

Reading Time: 4 minutes

We’re in the 43rd week on the year 2024

Our weekly highlights:

The week started with the Central Bank of Kenya giving greenlight to one of the largest and most influential financial institutions in the world, JP Morgan Chase Bank, to establish a representative office in Kenya, ending a 12 year wait.

CBKKenya gives Greenlight to JP Morgan Chase Bank

CBKKenya gives Greenlight to one of worlds leading bank JP Morgan Chase Bank

The bank then appointed Sailepu Montet, former deputy director of financial markets at the Central Bank of Kenya (CBK), as its country manager for Kenya. Montet has served as CBK’s deputy director of financial markets and head of reserves management since July 2021.

The bank then appointed Sailepu Montet, former deputy director of financial markets at the Central Bank of Kenya

This week, investors ran for the shorter term government securities, raising a total Ksh 34.5 Bn for the government, against the Ksh 24 Bn that was on offer.

Investors ran for the shorter term government securities, raising a total Ksh 34.5 Bn for the government

Government also released results for the 10 year Treasury Bonds Tap Sale , which has seen the government raise Ksh 15.1 Bn

Government also released results for the 10 year Treasury Bonds Tap Sale

I&M Group announced it is planning to issue up to 86.5 million new ordinary shares. These new shares will be purchased by East Africa Growth Holding (EAGH) at a set price of KES 48.42 per share.

I&M Group announced it is planning to issue up to 86.5 million new ordinary shares.

Investors smiled all the way to the banks as BOC Kenya disbursed its interim dividend of Ksh. 2.50 per share to shareholders early in the week

Investors smiled all the way to the banks as BOC Kenya disbursed its interim dividend of Ksh. 2.50 per share

Additionally, Absa Bank Kenya’s shareholders pockets were heavy as they were paid the 2024 interim dividend of Ksh 0.20 per share

Absa Bank Kenya’s shareholders pockets were heavy as they were paid the 2024 interim dividend of Ksh 0.20 per share

Safaricom extended its M-PESA Global service to Ethiopia allowing customers to make mobile money transactions from Kenya to Ethiopia.

This expansion aims to increase mobile money use and penetration across Ethiopia boosting local economies as well as creating opportunities for individuals and businesses across the region.

Safaricom extended its M-PESA Global service to Ethiopia allowing customers to make mobile money transactions from Kenya to Ethiopia

NCBA, one the leading Tier 1 Banks in Kenya officially kicked off their 2024 Johari Awards. The award will celebrate excellence in the insurance and asset finance sectors, honoring top performers across various cities in Kenya, culminating in a grand finale in Nairobi.

NCBA, one the leading Tier 1 Banks in Kenya officially kicked off their 2024 Johari Awards

The bank also did the unimaginable, they took over 100 Business Customers to China for a market familiarization trip.The customers on this trip will gain valuable insights into the latest business trends and technologies that make China a global trade leader.

NCBA bank took over 100 Business Customers to China for a market familiarization trip

The bank also did the most noble, they took over 100 Business Customers to China for a market familiarization trip

And on Thursday, the @EUinKenya was live on Social Media, sharing Keynote Speeches and Panel Discussions to help early stage businesses and young entrepreneurs launch and grow successful businesses to create jobs in Africa.

European Union and European was live on Social Media, sharing Keynote Speeches and Panel Discussions to help early stage businesses and young entrepreneurs launch and grow success

European Union and European Investing in Young Businesses

During the event, the European Investment Bank (EIB Global) and KCB Bank Kenya announced a €230 million (KShs. 32 billion) partnership to support small and medium enterprises (SMEs), youth and women in Kenya.