Mwango Capital

Mwango Capital

5/19/2025, 10:44:19 AM

4. African markets last week: 🟢Best performer was Kenya 🇰🇪 NSE-ASI +5.73% to 133.36 pts 🔴Worst performer was Malawi 🇲🇼 MSE ASI –0.04% to 289,175.26 pts

Mwango Capital

5/19/2025, 10:43:58 AM

3. Kenyan markets last week: 🟢Best performer was Sanlam +26.9% to KES 7.46 🔴Worst performer was Unga Group –8.7% to KES 19.30

Mwango Capital

5/19/2025, 10:46:11 AM

7. Rwanda’s central bank will start adding gold to its reserves from July 2025, joining a regional shift among East African monetary authorities seeking to diversify assets amid rising global demand for non-dollar holdings. https://t.co/oiEExcVtOq (Reuters)

Mwango Capital

5/19/2025, 10:44:59 AM

5. Kenya’s usable foreign exchange reserves fell by USD 127M last week to stand at USD 10.16B (4.5 months of import cover) as of 15th May 2025.

Mwango Capital

5/19/2025, 10:43:07 AM

𝐑𝐨𝐮𝐧𝐝𝐮𝐩 𝐨𝐟 𝐓𝐨𝐝𝐚𝐲'𝐬 𝐓𝐨𝐩 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐂𝐨𝐧𝐭𝐞𝐧𝐭 [𝟏𝟗𝐭𝐡 𝐌𝐚𝐲.]: 1. Diaspora remittance inflows to Kenya reached USD 422.9M in April 2025, marking a 6.4% year-on-year increase. Cumulative inflows for the 12 months to April rose by 12.1% to USD 4.99B.

Mwango Capital

5/19/2025, 10:45:38 AM

6. Moody’s has downgraded the US credit rating to Aa1 from Aaa, citing rising debt and a widening fiscal deficit. All three major rating agencies have now removed the US from their top-tier rating category. https://t.co/ydRLTlbqBg

Mwango Capital

5/19/2025, 10:47:42 AM

9. Foreign banks are expected to begin operating in Ethiopia before the end of the year, with key policy changes such as the removal of mandatory bond purchases and the 18 percent credit cap underway to support their entry, according to the The National Bank of Ethiopia. https://youtu.be/QPWOTqXpDK0

Mwango Capital

5/19/2025, 10:46:30 AM

8. The Ethiopian Securities Exchange has partnered with IFC to launch a Money Market Capacity Building Project. The initiative aims to train market participants and support the development of Ethiopia’s money and FX markets.

Mwango Capital

5/19/2025, 10:43:34 AM

2. Across the eurobond markets last week, the yield on KENINT 2027 fell by 19.50 bps week-on-week to 7.056%. Week-on-week yield performance (bps): —KENINT 2028: -69.40 —KENINT 2031: -45.80 —KENINT 2032: -48.70 —KENINT 2034: -46.30 —KENINT 2036: -32.70 —KENINT 2048: -33.10