Kenya’s Market Today: Hang On, It’s Still A Straight‑Line Ride
Last Friday’s scan of the Nairobi Stock Exchange (NSE) told us the 20‑share index was pretty much a wall‑flower—no real change, staying around the 1,900‑point zone. That means investors were doing a polite game of “sit tight.”
Why the Treasury Bills Are Taking a Short Break
- The 91‑day Treasury bill rate dipped below 10% for the first time since last April. That’s the Central Bank of Kenya (CBK) flexing its accommodative muscles.
- With rates that low, the equity market looks a tad more seductive compared to boring government securities.
- Yet many retail folks who have been cozy with those safe‑haven bills might, face‑to‑face, chase alternative investments. This could shift the whole fixed‑income playground.
Shilling Stays Cool With A Rainbow of Remittances
The Kenyan shilling is giving the U.S. dollar a thumbs‑up. A 19.2% surge in diaspora remittances—hitting $423.2 million last month—has pumped the current account and the forex market with fresh cash.
Foreign‑Exchange Fort Knox
- Reserves are sitting comfortably at $9 billion, giving a “four‑and‑a‑half‑month cushion” on imports.
- That’s more than enough to keep the market muscles relaxed and the foreign‑investor eyes from blinking.
Bottom line? Kenya’s market is steady, the shilling’s stable, and the banker is keeping things cool—but keep your eyes on the next move; markets can switch gears quicker than you can say “investment.”
