Here are some of the biggest stories that made headlines this week Week 50 of 2024:
- @CBKKenya offered Sh 24 billion worth of treasury bills, receiving Sh 42.31 billion worth of bids and accepting Sh 42.21 billion.
Average yields continue to decline across tenors, with the 91 day treasury bill interest rates at 10.4564%.
Also Read Your Dose of Weekly Highlights – Week 49 of 2024
- The Monetary Policy Committee reduced the Central Bank Rate by 0.75% from 12% to 11.25%. The decision was influenced by stable inflation, global policy shifts, and slowing domestic growth @CBKKenya.
- Savannah Clinker Limited withdrew its competing offer for the acquisition of Bamburi Cement PLC shares.
This leaves the offer from Amsons Industries (K) Limited as the only valid offer.
- @CBKKenya had set out to raise Sh 25 billion by re-opening two bonds: the 10-year bond FXD1/2023/010 and the 20-year bond FXD1/2018/020.
CBK received bids worth Sh 71 billion and accepted Sh 53.41 billion. The coupon rates were set at 14.1510% and 13.2000% respectively.
5. @CBKKenya in collaboration with @FSDKe and @KNBStats, launched the 2024 FinAccess Household Survey report.
The report highlights a rise in formal financial access, which increased from 83.7% in 2021 to 84.8% in 2024, driven by digital innovations and regulatory reforms.
However, financial health remains low, with 18.3% of Kenyans financially healthy, compared to 17.1% in 2021.
6. @NCBABankKenya was recognized at the 5th Annual HR Excellence Awards by the Institute of Human Resource Management – Kenya, receiving accolades for its commitment to sustainability and workplace excellence.
The Group’s “Change the Story” program earned the Best ESG Initiative of the Year award, while Monicah Kihia, Group Director of Human Resources & Culture, was named 2nd Runners-Up for HR Director of the Year.
NCBATwendeMbele #GoForIt #ChangeTheStory
- Aga Khan Fund for Economic Development S.A. (AKFED) intends to acquire 2.42% of the issued shares in TPS Eastern Africa Plc from Aga Khan University Foundation (AKUF).
This acquisition will give AKFED a controlling stake in the company.
- Centum Real Estate recognized as a Superbrand by SUPERBRANDS EAST AFRICA, a prestigious honor that shows the company’s outstanding reputation in the market. @CentumRE
8. Safaricom PLC has announced that Ms. Rose Ogega has resigned as an independent non-executive director, effective 29 November 2024. She had been serving on the board since 12 February 2019. @SafaricomPLC+
M-PESA Hits 34 million subscribers, reinforcing Safaricom’s dedication to deliver frictionless, always on and secure financial services to its customers. @SafaricomPLC
10. Upcoming Event
HF Group rights issue is set to close tomorrow, December 9, 2024, at 5 PM EAT. @hfc_kenya
- The 63rd Abojani Masterclass will take place from January 13th to 31st, 2025. This online masterclass is designed to improve your financial management skills and increase your investment knowledge, whether you’re just starting out or already an experienced investor.
