@AmbokoJH Wow! This is such a huge blow for EABL. Leaders like Risper are such rarities.
With those 2 big changes very close to each other I’m quite curious on how market will respond.
I sat down with pan-African entrepreneur @TonyOElumelu during his latest visit to Nairobi to discuss @UBAGroup's 'Banking on Africa' white paper & the case for mobilising an estimated US$4.0 trillion worth of domestic capital to fund the continent's infrastructure needs.
He tables an emphatic case for Africa's pension funds (~ US$500.0 billion in assets under management) to leave the safe harbour of government paper & deploy this capital in transformative infrastructure projects.
Catch this conversation on @ntvkenya's #BusinessRedefined on Mon 17th Nov, starting 9:35pm.
@UBA_KE
Safaricom HY2025 earnings.
By & large, strong momentum at the top:
· Group Service Revenue: 14.0% up y/y to Kes 181.4 billion
· Ethiopia contributing 10.0% of the growth of the group service revenue
· Safaricom Kenya Service Revenue: Kes 177.5 billion, up 12.9% y/y
· Safaricom Kenya free cashflow: Kes 80.6 billion, up 41.4%
· Total transaction value on MPesa rose 10.8% y/y to Kes 20.84 trillion
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@ntvkenya "We want to assure our supporters... ", now aside from supporters of the deputy president, which supporters do you personally have Cleophas? Please mention 2 by their names.
UPDATE: Moody's downgrades Kenya on withdrawal of Finance Bill 2024
Moody's has downgraded Kenya (local & foreign currency issuer ratings) to Caa1 from B3, outlook negative.
The downgrade is predicated on what the ratings agency terms as "significantly diminished capacity to implement revenue based fiscal consolidation that would improve debt affordability".
The ratings agency doesn't expect the government to be able to introduce significant revenue raising measures in the foreseeable future.
Moody's projects that interest payments to revenue ratio will rise to 33.0% in FY2025, from 30.0% in FY2024.
Negative outlook reflects downside risks related to government liquidity.
S&P & Fitch downgrades on the horizon?
Folks,
Have you submitted your comments on the proposed increase of the Road Maintenance Levy from Kes 18.0 to Kes 25.0/litre?
Tomorrow, Friday 5th July 5:00pm, is the last day for submission. Public fora are slated to kick off on Monday 8th July.
Meanwhile, the proposal that came from the Kenya Roads Board vouching for this increase makes for one interesting read.
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