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Recent Topicals

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Nairobi Metropolitan Area(NMA) Infrastructure Report 2024

Dec 22, 2024

In 2023, we released  the Nairobi Metropolitan Area (NMA) Infrastructure Report 2023, which highlighted the Nairobi Metropolitan Area (NMA) boasts of 1,131.6 Km of ongoing construction and rehabilitation projects valued at Kshs 86.3 bn. This represented a significant increase from the 940.5 Km projects worth 97.3 bn that was recorded in 2022. NMA’s average water coverage declined by 4.0% to 51.8% in 2021 from 55.8% in 2020. This week, we update our report using 2024 market research data and by focusing on; Introduction, Infrastructure Trends in Kenya, State of Infrastructure within the NMA, Importance of Roads, Water, and Sewer Network Availability to the Real Estate Sector, and Conclusion and Recommendations Section I: Int...

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Kenya Listed Banks Q3’2024 Report

Dec 15, 2024

Following the release of the Q3’2024 results by Kenyan listed banks, the Cytonn Financial Services Research Team undertook an analysis on the financial performance of the listed banks and identified the key factors that shaped the performance of the sector. For the earnings notes of the various banks, click the links below: Equity Group Q3’2024 Earnings Note KCB Group Q3’2024 Earnings Note Standard Chartered Bank Kenya Q3’2024 Earnings Note ABSA Bank Kenya Q3’2024 Earnings Note

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Retirement Benefits Schemes Q3’2024 Performance Report

Dec 8, 2024

According to the ACTSERV Q3’2024 Pension Schemes Investments Performance Survey, the ten-year average return for segregated schemes over the period 2015 to 2024 was 7.7% with the performance fluctuating over the years reflective of the markets performance. Notably, segregated retirement benefits scheme returns increased to 0.4% return in Q3’2024, up from the 2.9% loss recorded in Q3’2023. The y/y growth in overall returns was largely driven by the 3.0% points increase in returns from Offshore investments to 4.7% from 1.7% in Q3’2023 as well as the 2.1% gain from equities attributable to the positive returns realized from the banking sector stocks. This was however a 6.2% points decline from the overall return of 6.6% recorded in Q2’2024. This week, we shall focus on understanding Retirement Benefits Schemes and look into the quarterly performance and current state of retirement benefits schemes in Kenya...

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Nairobi Metropolitan Area (NMA) Serviced Apartments Report 2024

Nov 24, 2024

In 2023, we published the Nairobi Metropolitan Area Serviced Apartments Report 2023, which highlighted that the average rental yield for serviced apartments within the NMA increased by 0.6% points to 6.8% in 2023 from 6.2% in 2022. The improvement in performance was primarily on the back of improved occupancy rates and monthly charges by 0.5% points and 10.9%, to 66.3% and Kshs 3,045 per SQM, respectively, in 2023. This week, we update our report using 2024 market research data and by focusing on;  Overview of the Kenyan Hospitality Sector,  

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Nairobi Metropolitan Area (NMA) Industrial Report 2024

Nov 17, 2024

In analyzing the Industrial Nairobi Metropolitan Area (NMA) we discuss the following; Overview of the Real Estate sector in Kenya, Overview of the Industrial sector in Kenya, Key trends, Opportunities and Challenges facing Industrial Real Estate Sector in NMA, Summary Performance of the NMA Industrial Sector in 2024, Conclusion and Outlook for the NMA Industrial Real Estate sector. Section I: Overview of the Real Estate Sector in Kenya The Real Estate sector in Kenya has grown over the years to become one of the largest contributors to the country’s Gross Domestic Product (GDP), supported by factors such as; i) positive demographics including higher urbanization and population growth rates of 3.7% p.a and 

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