Kenya Financial Services Sector Research Highlights

Economic News

Are e-money taxes an effective solution for African nations seeking to expand their fiscal reach?
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– Digital transactions expanded rapidly in sub-Saharan Africa due to Covid-19 – Governments have sought to tax e-money to make up for fiscal shortfalls – Levies on digital transactions have been met with criticism and protests – Such levies could hinder the growth of e-commerce and financial inclusion A number of sub-Saharan African countries have sought to introduce taxes on electronic…

Economic News

How fintechs are revolutionising remittances in emerging markets
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– Fintechs focused on remittances are capturing legacy lenders’ market share – The UN and other bodies are calling for remittance fees to be capped at 3% – Emerging markets have been at the forefront of mobile-first fintech growth – Cryptocurrency is also increasingly disrupting the remittances space A number of remittance-focused financial technology (fintech) start-ups are gaining…

Covid Response Report

Rapport : Comment le PE et le VC peuvent stimuler la croissance post-pandémique en Afrique

La pandémie a créé un besoin urgent de plus de capital patient en Afrique. Les gouvernements de tout le continent étant confrontés à des contraintes budgétaires tout en reconnaissant l'importance des investissements dans les infrastructures et les services essentiels, le PE et le VC offrent une voie intéressante pour le soutien financier. La pandémie a également accéléré la numérisation…

Economic View

Farid Chedid, Chairman and CEO, Ascoma Group

On fuelling economic growth in Africa through insurance penetration In what ways did the Covid-19 pandemic impact the insurance sector in Africa? FARID CHEDID: Government measures to reduce the spread of Covid-19 such as national lockdowns have translated into slow economic growth, and in some cases recession. The performance of the insurance sector is traditionally closely linked to that of the…

Covid Response Report

Report: Private equity and venture capital to spur post-pandemic growth in Africa

The pandemic has created an urgent need for more patient capital in Africa. With governments across the continent facing budgetary constraints while recognising the importance of investment in essential infrastructure and services, private equity (PE) and venture capital (VC) offer an attractive avenue for financial support. Covid-19 has also accelerated digitalisation in key African markets, which…

Economic News

How will the removal of the interest rate cap shake up Kenya’s fintech ecosystem?
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In early November Kenya’s Parliament agreed to remove a cap on interest rates that had been in place since 2016. The limit was initially introduced to rein in high borrowing costs, but gave rise to a slowdown in lending and has been blamed for stymieing economic growth. Micro-, small and medium-sized businesses (MSMEs) were particularly affected by the cap. “More than 80% of the businesses…

Event

IFN Forum Kenya 2019

Africa was the first continent to which Islam spread from South-east Asia and it is now home to almost one-third of the world’s Muslim population. Although interest in Islamic finance continues to spread across this diverse yet complex continent, it has remained a difficult market to penetrate. With this in mind, IFN will organize the inaugural IFN African Roadshow that will stop in three of the…

Interview

Joshua Oigara, CEO and Managing Director, KCB Group : Interview
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Interview : Joshua Oigara What is the outlook for Kenya’s banking sector, and how should it look to finance key industries? JOSHUA OIGARA: The sector is committed to funding key infrastructure projects, and we are using annuity financing as part of the public-private partnership (PPP) model to do this. In agriculture, one of the main challenges is to expand the use of aggregator models for producers.…

Interview

Patrick Ngugi Njoroge, Governor, Central Bank of Kenya (CBK) : Interview
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Interview :Patrick Ngugi Njoroge How can the banking sector help to support the goals of the Big Four agenda? PATRICK NGUGI NJOROGE: Banks are well positioned to fund the agenda’s priorities through credit extension, targeted products and incentives. In housing, banks can boost supply and demand by providing syndicated loans to contractors, as well as mortgage and asset financing options.…

Interview

Geoffrey Gangla, CEO, Genghis Capital : Interview
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Interview :Geoffrey Gangla What factors will be driving the performance of Nairobi Stock Exchange (NSE) in the coming year? GEOFFREY GANGLA: Overall market sentiment is looking favourable after the easing of political tensions, and more activity is expected. In 2018 increased public and private spending as a result of improved investor confidence will have a noticeable impact on economy activity.…

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Kenya Financial Services Sector Research Highlights

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