The period of easily raising funds from abroad seems to be coming to an end for emerging markets around the world. In the new environment of higher interest rates in the US and increased competition for capital flows, portfolio managers are becoming more selective with where they place their money.
Fixed income was billed as an attractive asset class in the capped-interest-rate era. This seems to be borne out by the fact that commercial banks increased their holdings of domestic debt by the equivalent of 2.23% of GDP in 2017, intensifying their grip on safer asset classes in lieu of riskier credit lending. Commercial banks accounted for...
Election years are perceived by many as disruptive of day-to-day life, and 2017 was no exception for Kenya, which experienced an impact on the equity market and the economy at large in light of its vote that year. Nonetheless, despite election jitters, the Nairobi Securities Exchange (NSE) All Share Index hit 24.5% in 2017. The NSE 20 and the...
How can retail investor participation in Kenya’s equity and fixed-income markets be encouraged?
Once reserved for ambitious start-ups and industry-leading tech operators, financial technology ( fintech) has more recently caught the attention of major private sector firms and government planners alike, becoming a regular feature in budget speeches and strategic development plans. As fintech progressively plays a larger part in the lives...
What are the challenges of shifting to the ninth International Financial Reporting Standard (IFRS 9)?
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