Tag: Central Bank of Kenya

Kenya’s Central Bank floats bond for budgetary support

In Kenya, the Central Bank is inviting investors to bid for the 15-year and 20-year treasury bonds worth $461.5 million, with proceeds to be used by National Treasury to finance the national budget. Moreover, diaspora remittance remained strong to hit $277 million in July which was a marginal decline from the $288.5 million recorded in June 2020. David Gitau, Invetment Analyst at Cytonn joins CNBC Africa for more.

Kenya’s underlying economic numbers point to strong growth -central banker

NAIROBI (Reuters) - Kenya’s central bank governor Patrick Njoroge on Thursday said that underlying economic numbers pointed to strong growth this year. “All these point to strong...

Sheila M’Mbijjewe on what the CBK is doing to cushion Kenyan economy from COVID-19 shocks

Since the outbreak of the COVID-19 pandemic in Kenya, the Central Bank of Kenya has put in place a raft of measures to prevent the health crisis from becoming a severe economic and financial crisis. But just how is the Kenyan economy responding to these measures? CNBC Africa spoke to Sheila M'Mbijjewe, Deputy Governor of the Central Bank of Kenya for more.

Kenya’s Central Bank maintains key repo rate at 7%

In what feels like a race against time, Kenya parliament's budgets appropriations committee approved the third supplementary budget on Friday for the financial year ending tomorrow, why so late and what are the implications of the latest changes? Churchill Ogutu, Head of Research at Genghis Capital joins CNBC Africa for more.

Central Bank of Kenya issues a 5-year Ksh50bn bond for budgetary support

In Kenya, the banking sector continues to dominate activity at the Nairobi Securities Exchange with shares worth Ksh775 million transacted, which accounted for 48.27 per cent of the traded value in the week that ended on 30th April 2020. Moreover, the Central Bank of Kenya announced the insurance of a 5-year Ksh50 billion bond for budgetary support in May with the auction date set for Wednesday 6th of May. The market-determined bond will mature in May 2025 with CBK encouraging investors to use treasury mobile direct or internet banking to purchase the bond. Joining CNBC Africa for more is Rodney Omukhulu, Assistant Investments Analyst at Cytonn.

Can the Kenyan economy survive COVID-19?

The Central Bank of Kenya has taken several measures to ease the effects of the COVID-19 pandemic on the economy, but are those measures enough? Journalist, Joseph Bonyo joins CNBC Africa for more.

COVID-19: Central Bank of Kenya directs banks to quarantine cash

The Central Bank of Kenya (CBK) agreed with the banks to waive mobile money transfer charges starting Monday night until June 30 in the push for cashless payments aimed at curbing the spread of the coronavirus. Also, the US Trade Department has started negotiations on comprehensive trade agreement with Kenya in a move that will extend country’s preferential access after the current deal ends in 2025. Maryanne Ng’ang’a, Investment Analyst at Cytonn joins CNBC Africa for more.

Kenya’s central bank cuts lending rate to spur growth

Central Bank of Kenya’s Monetary Policy Committee (MPC) has lowered the Central Bank Rate from 8.50 to 8.25 two months later after it was reduced from 9.0 per cent. Moreover, SBM Bank Kenya Limited has filed a petition to liquidate East African Cables after the company defaulted on a $2.82 million loan. Rodney Omukhulu, Assistant Investments Analyst at Cytonn joins CNBC Africa for more.