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.
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.
