Mwenendo
African Markets
The NSE, African exchanges, stocks, bonds, currencies, commodities and crypto.
A Named Desk: Seven Firms Can Take Kenyan Orders for Dangote's Nigeria Sale
The Capital Markets Authority has named seven licensed firms that can place Kenyan orders in the Nigerian sale of Dangote Petroleum Refinery shares. The offer closes on 13 October. It is not a sale of the Lamu project.
A New Scorekeeper: Africa Opens Its Own Credit Rater on Wednesday
The Africa Credit Rating Agency launches in Port Louis on 7 October. The African Union set it up to rate sovereigns and firms with local context. A launch is not a rating, and Kenya's coupon does not move on the night.
The Price Is Out: Quickmart Shares Open at KSh 7.50
Sokoni Retail Kenya is selling 2 billion existing shares at KSh 7.50, a KSh 15 billion book that values the chain at KSh 30 billion. The offer opened on 5 October and closes on 30 October. Quickmart receives none of the cash.
Nigeria's 61% Stock Market Rally Leaves Investors Facing a Tougher Fourth Quarter
Nigeria's NGX All-Share Index has risen 61.43% in the first nine months of 2026, but the gains have been concentrated in a smaller group of stocks. The next quarter could put more focus on valuations, earnings and fresh catalysts rather than momentum alone.
Nigeria's Big Investors: New Rules on Share Ownership Explained
When major investors build large stakes in public companies, market regulators step in. Here is how Nigeria's legal thresholds mandate transparency on the exchange.
Glencore Raises 2026 Commodity Trading Profit Outlook Above $5B
Glencore now expects its 2026 commodity-trading profit to exceed $5B after a near-record first half driven by volatile oil, gas and freight markets. The group is also resetting its longer-term profit framework from 2027.
A New Crypto Safeguard: Institutional Custody Is Changing Digital Assets
As financial institutions enter the digital asset space, corporate-grade crypto vaults rely on complex mathematics, split keys, and strict legal boundaries to secure capital.
Ghana Pension Fund Raises Stake in Société Générale to 24.36%
Ghana's Social Security and National Insurance Trust has raised its stake in Société Générale Ghana from 19.36% to 24.36%. Attijariwafa Bank will become the majority owner after Société Générale Group's exit.
Dangote IPO Access Delayed as Kenya Regulator Reviews Local Share Offer
Kenya's proposed route into Dangote refinery shares remains under CMA review; investors cannot use the NSE receipts until approval is granted.
Treasury Bill Demand Jumps as Investors Bid KSh47.7B for KSh28B Offer
Investors submitted KSh47.7B for Kenya's latest Treasury bills, up from KSh41.7B in the previous auction, while CBK accepted KSh41.2B. Demand strengthened across two maturities, while accepted rates edged slightly lower.
Liberty Kenya Profit Falls 46% as Investment Income Shrinks
Liberty Kenya's first-half profit fell to about KSh231 million as investment income dropped, despite a sharp improvement in its insurance service result.
Airtel Money Sets £5.3 Billion Valuation for London IPO
Airtel Money priced its London IPO at £1.96 per share, implying a £5.3 billion valuation. Conditional trading is expected on 9 October.
A Denial Is Not a Register: Mbadi Says Ruto Holds No Dangote Refinery Shares
Treasury CS John Mbadi said President William Ruto has no personal shares in the Dangote refinery project. He pointed to a Dangote Group listing and a 30 per cent East African offer. The Lagos IPO is the only published Dangote refinery share sale. No Lamu issuer register has been filed.
No Lamu Share Form Exists After Ruto Names the NSE
Ruto said in Kilifi that small savers will buy Lamu refinery shares on the Nairobi bourse. There is no CMA prospectus, no price and no application. The only open Dangote offer is the Lagos plant at N525 a share, closing 13 October. Money paid this week for 'Lamu units' is not going through the exchange.
Africa Financial Summit Heads to Luanda With Kenya Among Key Markets
The Africa Financial Summit will be held in Luanda on 3 and 4 November, bringing together senior leaders from banking, insurance, fintech and capital markets. The organisers say more than 1,250 senior leaders are expected, while a Nairobi roadshow has already brought the event's agenda to Kenya.
Open up Cross-Border Trade: How Regional Customs Bonds Cut Freight Costs
A regional customs bond can cover transit cargo across participating countries, reducing repeated guarantees and the working capital tied up by transporters.
A New Retail Bet: Quickmart Prepares to Offer Up to 57.5% Stake in NSE Listing
Supermarket chain Quickmart moves to float up to a 57.5 per cent stake on the Nairobi Securities Exchange, marking a major retail listing for Kenya's capital markets.
A Global Ripple Effect: Offshore Market Volatility Hits Local Investors
Global sell-offs can reach Kenya through foreign investor withdrawals, shilling pressure and borrowing costs; the impact depends on where money moves and how local markets respond.
Beyond the Paper Gains: market value Actually Works in Emerging Markets
When stock markets announce massive gains overnight, it is easy to assume companies are thriving. Here is how paper valuations actually work in frontier markets.
A Sovereign Benchmark: Tanzania Issues 10.25 Per Cent Five-Year Treasury Bond
The Bank of Tanzania opens bidding for a five-year Treasury bond offering a 10.25 per cent coupon, establishing a key benchmark for sovereign borrowing and market liquidity.
A Major Retail Move: Quickmart Seeks Public Ownership
Kenya's modern retail sector prepares for a landmark public listing as private equity firm Adenia Partners plans to float up to 2 billion existing shares in Quickmart on the Nairobi Securities Exchange.
Liquidity Boost: Dar es Salaam Equity Turnover Touches TZS 4.30 Billion
Strong investor participation drives activity across Tanzanian equities, bonds, and exchange-traded funds, providing key liquidity signals for regional capital market investors.
Inside the NSE Bond Market: Kenya's Fixed-Income Debt Trading Actually Works
Understanding how government debt and corporate bonds trade on the Nairobi Securities Exchange is key to navigating Kenya's economy and open up fixed-income investments.
A Fresh Debt Push: Kenya Opens September Treasury Bond Offer
The Central Bank of Kenya has issued the prospectus for its September Treasury bond sale, offering investors a fresh opportunity to lock in government debt yields.
The Mega-IPO Challenge: Why Capital Markets Struggle With Trillion-Naira Listings
Multi-trillion-naira public listings test the structural limits of regional equity exchanges, revealing deep liquidity bottlenecks and complex financial syndicate workings.
Market workings: Stock Performance and Currency Shifts Shape African Wealth Valuations
Behind every headline wealth valuation is a mix of equity price shifts and currency conversions, revealing how public stock markets really work.
Treasury Pays Back KSh 15.2 Billion From 12-Year Tax-Free Infrastructure Bond
The National Treasury has settled a KSh 15.2 billion 12-year tax-free infrastructure bond upon maturity, pushing substantial liquidity back into the hands of institutional and retail investors seeking fresh yields.
Equities Surge: Nigerian Stocks Hit Record High as Buyer Appetite Outpaces Dangote IPO Buzz
Sustained buying interest across listed corporate shares pushes West Africa's primary stock index to unprecedented heights, demonstrating strong domestic liquidity ahead of major market listings.
A Paper Shift: NSE Market Value Actually Works
When headlines declare that the Nairobi Securities Exchange has lost billions in a single day, it sounds like cash has vanished from a bank vault. Here is how paper market capitalisation actually works, why no cash disappeared, and who gains when prices fall.
Market Rate Shifts: Kenyan Shilling Reaches 129.64 Against Dollar
The Kenyan shilling moved to 129.64 per dollar in live market trading on 16 September, underlining the gap between real-time commercial quotes and official reference benchmarks.
A Historic Share Offer: Dangote Refinery Launches Africa's Largest Public Listing
Nigeria clears the initial public offering for the Dangote Petroleum Refinery, setting off Africa's largest share sale and testing local market appetite.
Beyond Capital Controls: Chinese Investors Access Overseas Stock Markets
Mainland investors seeking global diversification rely on tightly managed regulatory channels like QDII quotas and cross-border ETFs to navigate strict foreign exchange controls.
Counting the Bullion: Pan African Resources Sets Date for Full-Year Results
African gold producer Pan African Resources has scheduled its FY2026 annual performance briefing, offering investors vital insight into production costs and operational margins.
The Engine Room: Kenya's Treasury Auctions Set Your Borrowing Costs
Behind every bank loan rate, Money Market Fund yield, and government budget lies a silent weekly contest at the Central Bank. Here is how Kenya's Treasury bill auctions work, why investors are favouring short-term paper, and what it means for your money.
Digital Dollars on the Blockchain: Stablecoins Are Rewiring African Cross-Border Commerce
High remittance fees and foreign exchange shortages are pushing African businesses toward digital dollar tokens to settle cross-border transactions instantly.
A Deep Discount: Nigerian Banks Lag African Peers Despite Big Rally
A steep currency devaluation and high inflation mean Nigeria's top lenders remain heavily discounted on the continental stage, even as local share prices post impressive double-digit gains.
The Hidden Engine: Central Bank Rate Decisions Move Global Markets
When central banks in Washington and Tokyo meet to adjust interest rates, they alter the flow of global capital. Here is how monetary policy transmission actually works, and why it reaches your wallet.
Cheaper Overnight Money: Kenya’s Interbank Rate Eases To 8.75 Percent
Kenya’s benchmark interbank lending rate slipped to 8.75 percent on 11 September, offering a fresh signal of mild liquidity easing across the commercial banking grid.
Exchange Rate Stability: Kenya Shilling Closes at KSh 129.49 Against Dollar
The Central Bank of Kenya has published its daily exchange rates, with the local currency trading at KSh 129.49 per US dollar as market stability offers predictability for local importers.
Yields Stay Subdued: Kenya Treasury Bill Rates Hold Below 10 Percent
Yields on Kenya’s short-term government debt instruments remained below the 10 percent threshold across all tenors at the latest auction, signalling lower borrowing costs for the government and shifting investment returns for domestic savers.
A Capital Inflow Signal: J.P. Morgan Adds Nigeria to Emerging Market Bond Index
Global investment bank J.P. Morgan has assigned Nigeria a 7.4% weight in its new emerging-market bond index, opens the door to foreign portfolio capital inflows and boosting confidence in regional debt markets.
Money Is Moving: Nigeria's FX Derivatives Surge 500% as Weekly Turnover Hits $3.39B
A massive surge in hedging instruments and a 40 per cent jump in weekly trading volume signal that liquidity is returning to West Africa's largest foreign exchange market.
Foreign Investors Pull Money Out of Nairobi Stock Market
A dramatic dip in stock market values can look like a corporate crisis, but the real story on the trading floor is a mechanical capital flight driven by foreign interest rates and currency risks.
A $20 Billion Market Test: The Dangote Refinery IPO Reshapes African Capital
A public listing of West Africa's largest industrial asset offers a landmark test for local stock exchanges, pension funds and international investors.
Bond Re-Openings Build Liquidity for Sovereign Debt Managers
Sovereign debt managers frequently issue fresh debt using existing bond maturities rather than creating new series. Here is how bond re-openings build market liquidity and simplify public debt management.
Infrastructure Funds Mobilise Private Capital for Mega-Projects
Governments facing high debt levels and tight budgets are increasingly turning to private capital to finance essential public assets. Here is how infrastructure funds aggregate capital, manage risk, and use capital markets to build major projects.
Heavy Investor Demand: Treasury Bills Draw $428.7 Million in Bids
Investor appetite for short-term government debt surged during the latest Central Bank auction, signaling strong domestic market liquidity and ongoing caution among institutional lenders.
Tech Deals: Nigeria’s $364m VC Influx Reveals Shifting Investment Trends
Headline numbers suggest a sudden venture capital recovery, but the workings behind recent funding show a market dominated by debt financing, mega-deals, and cautious investors.
Market Watchdog Flags Unauthorised Investment Schemes: Kenya's Regulatory Shield Protects Investors
Kenya's capital markets watchdog has issued a fresh alert over unauthorised investment entities, highlighting the regulatory machinery used to spot illegal financial operations and protect public savings.
September AGMs Reveal African Business Health Concerns
As corporate boards convene for annual shareholder meetings this September, executive decisions on dividends, capital spending and debt strategy will offer key signals on the underlying health of major African markets.
A Dollar Squeeze in West Africa: Nigeria's Currency Volatility Rattles Regional Markets
Nigeria's naira slipped by N11 against the US dollar even as interbank trading activity spiked 70 per cent, highlighting the persistent dollar demand squeezing major African economies.
Liquidity Under Strain: Sector-Wide Sell-offs Trigger NGX Circuit Breakers
When heavy selling hits an exchange, order books clear out and use forces automated liquidations. Here is how structural safety valves handle sudden liquidity shocks.
Reading the Bourse: Nairobi Securities Exchange Tracks Daily Market Statistics
The local bourse continues to provide transparent data on trading volumes, index movements, and market capitalisation, giving retail and institutional investors a clearer picture of equity performance.
A Clearer Scoreboard: New Market Data Disclosures Give Local Investors a Boost
Granular disclosures on contract expiries, open interest and settlement pricing give active traders and retail investors a sharper view of market activity on the local exchange.
Currency Stability: A Stronger Shilling Eases Pressure on Your Wallet
As the local currency shows positive movement against foreign currencies ahead of the new trading week, market stability offers crucial relief for importers, businesses, and everyday consumer prices.