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
CEO & Co-Founder, Abojani Investment
Robert Ochieng is a visionary entrepreneur and the co-founder of Abojani Investment, a leading financial education platform in Kenya that has empowered over 20,000 Africans to embark on their investment journeys. As CEO, he has demonstrated an unwavering commitment to financial literacy, successfully demystifying money and investments and making them accessible and relevant to individuals from all walks of life.
Running Thriving Investment Communities
Robert’s influence extends well beyond Abojani Investment’s core offerings. He has actively fostered a sense of community by running investment forums and groups with a vast following of over 300,000 Africans. These communities provide a safe space for individuals to exchange ideas, share experiences, and support each other on their investment journeys.
Vision for the Future
As co-founder of Abojani Investment, Robert envisions a financially empowered Africa. He strives to expand the reach of his financial education initiatives, enabling millions more to gain the knowledge and confidence needed to achieve their financial goals. His vision is to create a society where every individual has the tools and understanding to build lasting wealth and prosperity.
Professional Background
Robert Ochieng is a highly accomplished CEO at the helm of Abojani Investment, an investment and advisory firm in Kenya. He is a seasoned professional with over 14 years of experience in IT, Finance, and leadership.
His career includes key roles at prominent institutions such as Equity Bank, Gulf African Bank, Guaranty Trust Bank (GTBank) and Airtel.
Robert’s expertise has also been sought after by the National Treasury for consultancy on planning and budgeting systems, showcasing his exceptional knowledge and skills in the field. Passionate about driving meaningful conversations and collaborations between academia, industry, and the public sector, Robert actively engages in research projects focusing on digital transformation within the financial services sector. With his visionary leadership and strategic insights, Robert Ochieng continues to make a significant impact in the business world.
