𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐡𝐞𝐬𝐬

Giving you financial nuggets daily | Traditional & alternative investments | Wealth management | Pension consultant | Chess aficionado

[𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐡𝐞𝐬𝐬 @FA_Symon]

Harsh Truth: Wealth is built slowly. Consistent SACCO savings, money market funds, blue chip stocks and bonds will always beat betting jackpots.

[𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐡𝐞𝐬𝐬 @FA_Symon]

Updated NSE Dividend Watch

Today is BOC Kenya’s book closure date for its KES 4.00 interim dividend.

If you want to qualify for the dividend, today is the last day to buy the shares and be on the register of eligible shareholders.

Note: Blank total dividend figures indicate that the respective companies’ full-year results are yet to be released.

Stay ahead of the dividend calendar.

[𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐡𝐞𝐬𝐬 @FA_Symon]

MMF yields are updated! Grow your cash while keeping it accessible.

It's ideal for:
• Emergency funds
• Short-term savings
• Idle business cash

Open an account: Etica Capital: https://t.co/hiMtjIO7KS 

Kuza: https://t.co/oP7nEI8SFs

[𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐡𝐞𝐬𝐬 @FA_Symon]

KPLC’s FY2026 numbers have a cost problem that you shouldn’t ignore.

Operating profit declined 2.3%, while operating costs increased 26.7%.

So what drove the sharp increase in operating costs?

The General Manager, Finance provided a deeper insight into what was driving this increase:

• Expected credit losses: KPLC made a provision against electricity debt due to accumulated arrears from some county governments.

• Meter related costs: The company undertook an initiative to repair faulty meters and clear the backlog of meters requiring attention.

• Depreciation: An increase in non current assets translated into an additional KES 2.8B in depreciation expense.

• Staff costs: KPLC recruited approximately 1,100 new employees, although he indicated this cost is not expected to be recurrent.

Now the big question: does this spike in operating costs change your view of KPLC, or do the explanations suggest that some of these costs may ease going forward?

Credit to @mwangocapital spaces

[𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐡𝐞𝐬𝐬 @FA_Symon]

Most pension funds get judged on one thing: last year's return. That's the wrong metric.

The more important question is:
Has your pension fund consistently beaten inflation enough to grow your purchasing power by the time you retire?

A fund can have a great year and still leave you short at 60 because retirement isn't about having a few good years.

It's about the real value your money compounds into over decades.

Here's what that looks like in practice.

Kenya's inflation averaged 5.96% per year over the 10 years shown above.

So if your pension's long-term returns hasn't beaten that inflation by a meaningful margin over that same period, your money has grown in nominal terms without creating as much real wealth as you think.

The question isn't simply: "What return did my pension earn?"

It's: "What did that return do to my purchasing power over time?"

If you have never compared your pension provider's long-term performance against inflation, that's a number worth knowing before retirement makes the question urgent.

I help with:

• Structuring pension schemes for organisations
• Exploring NSSF tier II contracting-out options where applicable
• Transferring/consolidating eligible pension benefits from former employers
• Designing individual retirement plans

Don't wait until retirement to discover that your pension strategy needed work.

Reach out directly: https://t.co/WohHbvTdSi
Let's structure this properly.

[𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐡𝐞𝐬𝐬 @FA_Symon]

Foreign investors accounted for 25% of today's NSE equity turnover, with a net outflow of KES 704M.

The Nairobi All Share Index fell by nearly 1%.

Here's the interesting question: if foreigners accounted for only 25% of turnover, what was happening in the other 75%?

[𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐡𝐞𝐬𝐬 @FA_Symon]

In a banking sector sea of red, only Standard Chartered stayed in the green.

[𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐡𝐞𝐬𝐬 @FA_Symon]

Investors who don't understand the opportunity behind a red NSE market 😂

[Yahoo Finance @YahooFinance]

16 of the 18 members of the Federal Reserve expect another rate hike in addition to this one in 2026.

[The Kobeissi Letter @KobeissiLetter]

BREAKING: The Federal Reserve officially hikes interest rates by 25 basis points, marking its first rate hike since July 2023.

This ends the longest Fed interest rate pause since 2008.

[𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐡𝐞𝐬𝐬 @FA_Symon]

One interesting detail from today's NSE session:

Kenya Power (KPLC) was the only stock among the top movers where foreign buying exceeded foreign selling - 36.9% vs 8.3%.

Across the other major counters, foreign selling dominated apart from Diamond Trust Bank that was flat.

Overall, foreign investors recorded another KES 333M net outflow today, following yesterday's KES 960M.

At 9PM EAT, the Fed speaks.

The question now is: how will global capital react?

[𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐡𝐞𝐬𝐬 @FA_Symon]

Today was a red day at the NSE.
All major indices closed lower, while some banking heavyweights found themselves among the day’s top losers.

Co-operative Bank (-7.32%) and KCB (-6.38%) both came under significant selling pressure.

[𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐡𝐞𝐬𝐬 @FA_Symon]

Here is an update on USD Money Market Funds.

USD MMFs are ideal for investors looking to hedge against the depreciation of the Kenyan Shilling while earning relatively stable dollar denominated returns. They are especially useful for preserving purchasing power during periods of currency weakness.

For those interested in opening an account:

Etica Capital:
https://t.co/Dr4xBUAvld

Kuza:
https://t.co/DdvmKMxbUP

[𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐡𝐞𝐬𝐬 @FA_Symon]

Foreign investors sold KES 1.28B at the NSE today, against buys of just KES 318.8M which translates to a net outflow of KES 960M.

The timing is interesting.

The Fed announces its rate decision tomorrow. Could foreign investors be reducing exposure ahead of the decision and positioning for the risk of a hawkish outcome?

Tomorrow's Fed decision will be interesting for the NSE.

[𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐡𝐞𝐬𝐬 @FA_Symon]

Today, KCB moved 1.8 million shares worth KES 169.1 million and closed at KES 92.25, a down of 1.9%.

Interestingly, foreign investors accounted for just 5.5% of the buying but 49.4% of the selling.

That imbalance is worth watching.
So, are you seeing the foreign selling as a warning or an opportunity to buy the dip?

[𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐡𝐞𝐬𝐬 @FA_Symon]

MMF yields are updated! Grow your cash while keeping it accessible.

It's ideal for:
• Emergency funds
• Short-term savings
• Idle business cash

Open an account: Etica Capital: https://t.co/hiMtjIO7KS

Kuza: https://t.co/oP7nEI8SFs

[Vick | Wealth @VickWealthHQ]

August 2026 Fixed Income Fund (FIF) Performance Update 📊📉

Top 3 Funds:
🥇 Arvocap Almasi: 21.74 gross / 16.78% net
🥈 Arvocap Ngao Annual: 14.44 gross / 12.27% net
🥉 Xeno Kenya: 14.31 gross / 12.16% net

Key Trends: 💡

* August inflation held steady at 6.6%. 📊
* Fixed income yields reflect prevailing market adjustments.
* Funds like NCBA and Stanbic dropped below the inflation-adjusted threshold, with net returns under 6.6%. ⚠️

Want a reliable fixed income option? Check out Etica's offerings or explore their ecosystem here: 🔗 https://t.co/UdEJU7cwof

[Capital Markets Authority Kenya @CMAKenya]

PUBLIC CAUTION AGAINST INVESTMENT SCAMS!

[𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐡𝐞𝐬𝐬 @FA_Symon]

This week, about KES 177.4 billion was wiped out of the Nairobi Securities Exchange in market capitalisation, with the NASI falling 4.14%. Yet trading volume fell even more sharply, by 30.39%, while equity turnover declined 20.87%.

Interestingly the market pullback was accompanied by significantly lower trading activity rather than a surge in overall market participation.

Was this a mass exit or simply a case of buyers stepping back?

[𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐡𝐞𝐬𝐬 @FA_Symon]

For dividend hunters in the banking sector, I&M Bank, Co-operative Bank, and Bank of Kigali are among the banks expected to declare interim dividends alongside their Q3 2026 results.

If you are building an income focused portfolio, these are three names worth keeping on your dividend radar as we head into the Q3 reporting season.

Disclaimer: These are expectations based on the banks’ historical dividend patterns and should not be interpreted as a guarantee that an interim dividend will be declared. The final decision remains subject to each bank’s financial performance and board approval.

[𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐡𝐞𝐬𝐬 @FA_Symon]

The Nairobi Securities Exchange All Share Index (NASI) is down 7.81 points from last Thursday. Look beneath the index, and you will see the red across several stocks in your portfolio.

Last Thursday, the index closed at 255.34 (its highest level for that week). Today, it stands at 247.53.

That represents a 3.06% pullback from the recent peak.

Here’s the important part: a pullback is not necessarily a reason to panic or assume the bull run is over.

After a strong run in the market, periods of profit taking and consolidation are normal. The question is whether the underlying fundamentals of the companies you own have changed and not simply whether the index has pulled back.

Markets rarely move in a straight line.

If you are invested, pullbacks are a useful reminder to revisit valuations, reassess your investment thesis and identify where the market may be offering better entry points.