Season’s Greetings from #TheWinningTeam
Here are the biggest stories from the markets this week.
Safaricom Marks Green Bond Success at the NSE
As confidence returns to Kenya’s capital markets, recent corporate bond issuances have attracted strong investor interest. Safaricom’s recently concluded green bond stood out, with 2,453 individual investors committing approximately Ksh 39 billion in just 11 days. Retail investors accounted for 96 percent of the total amount raised, highlighting growing household participation in fixed income instruments.
The successful closure of Safaricom’s first tranche green bond was celebrated at the Nairobi Securities Exchange bell-ringing ceremony. The event underscored the telco’s appeal to retail investors and reinforced the growing appetite for corporate bonds as Kenya’s capital markets continue to stabilise.
Diageo Signals Exit from EABL
East African Breweries Plc issued a cautionary notice confirming that its majority shareholder, Diageo, plans to sell its 65 percent stake to Japan’s Asahi, subject to regulatory approvals in Kenya, Uganda, and Tanzania. The announcement points to a potential shift in EABL’s ownership, with shareholders advised to exercise caution as further details emerge.
Dividend Bonanza
Investors ended the week on a positive note as Carbacid and Centum paid dividends to shareholders who were on their registers as of the respective book closure dates, adding to the list of companies rewarding investors during the period.
Leadership Transition at Kenya Airways
Allan Kilavuka proceeded on terminal leave as Group CEO of Kenya Airways, stepping aside ahead of the expiry of his contract. Captain George Kamal has taken over in an interim capacity as the board begins the search for a substantive CEO. Kilavuka exits after six years marked by operational stabilisation and a major financial turnaround, including a Ksh 5.4 billion after-tax profit in 2024.
Board Appointments at Britam Asset Managers Uganda
Britam Asset Managers Company (Uganda) Limited appointed Geoffrey Kitakule, Maximilia Byenkya, Ruth Doreen Mutebe, and Degeya Ssekyeru John as Non-Executive Directors. The appointments are expected to strengthen governance, strategic oversight, and long-term value creation.
Family Bank Strengthens Its Board
Family Bank appointed Baptista Muriki Kanyaru to its Board of Directors. A seasoned Advocate of the High Court of Kenya, Mr. Kanyaru brings extensive experience in legal practice, governance, and leadership, and currently serves on the boards of KTDA Holdings, Kiegoi, and Igembe Tea Factories.
WPP Scangroup Issues Third Profit Warning
WPP Scangroup issued its third consecutive profit warning, projecting that earnings for the year ending December 31, 2025 will decline by at least 25 percent amid reduced client spending and the loss of a major account. The group recently appointed Akua Brayie Owusu-Nartey as Group CEO as part of efforts to stabilise operations.
Airtel Africa Partners with SpaceX
Airtel Africa announced a partnership with SpaceX to introduce Starlink Direct-to-Cell satellite connectivity across its 14 markets, serving more than 174 million customers. The initiative will enable connectivity in areas without terrestrial network coverage, expanding digital inclusion across the continent.
Treasury Bills Attract Lower Uptake
The government raised Ksh 16 billion out of the Ksh 24 billion offered through treasury bills this week, as yields continue to settle firmly within the single-digit range.
Coming Up
Abojani’s monthly masterclasses are back, with the 73rd edition commencing on 12th January and running online via Zoom. The programme is designed to help participants take full charge of their financial journey as the new year begins.
We want to take this moment to sincerely wish you and your loved ones a happy holiday season filled with joy, laughter and peace.
Enjoy!
