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Recent Topicals

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Kenya Listed Banks Q3’2025 Report

Dec 14, 2025

Following the release of the Q3’2025 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 Q3’2025 Earnings Note KCB Group Q3’2025 Earnings Note Standard Chartered Bank Kenya Q3’2025 Earnings Note ABSA Bank Kenya Q3’2025 Earnings Note

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Retirement Benefits Schemes Q3’2025 Performance Report

Dec 7, 2025

According to the ACTSERV Q3’2025 Retirement Benefits Schemes Investments Performance Survey, segregated retirement benefits schemes recorded a 7.2% return in Q3’2025, from the 0.4% return recorded in Q3’2024. The performance was largely supported by the performance of Equities investments made by the schemes which recorded an 19.6% gain, 17.5% points above from the 2.1% return recorded in Q3’2024, on the back of strong gains posted by the Nairobi All Share Index (NASI) of 15.2%, driven by robust corporate earnings, favourable valuations, increased foreign investor inflows, and continued monetary policy easing. 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 with a key focus on Q3’2025.  In our previous report, we

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Nairobi Metropolitan Area (NMA) Mixed Use Developments Report 2025

Nov 23, 2025

In November 2024, we released the Nairobi Metropolitan Area Mixed-Use Developments (MUDs) Report 2024 which highlighted that Mixed-Use Developments recorded an average rental yield of 8.6%, 1.5% points higher than the respective single-use themes which recorded an average rental yield of 7.1% in a similar period in 2023. The relatively better performance was mainly attributed to; i) heightened demand for prime locations attracting clients willing to pay premium rents, ii) strategic and prime locations of the developments with the capability to attract prospective clients, and, iii)) the area’s proximity to amenities such as shopping malls enhancing the desirability. This week we update our report with 2025 market research data in order to determine the progress and performance of MUDs against the market performance of singl...

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Review of Restructuring and Insolvency in Kenya

Nov 16, 2025

Insolvency refers to a financial situation where an individual, business or entity, such as a fund, is unable to meet their financial obligations or settle their debts as they become due. In most cases, the state of insolvency occurs due to an increase in business expenses, poor cash management, law suits, poor budgeting, fraud, business expansion, a reduction in sales or an unforeseen black swan event like Covid 19. In Kenya, insolvency proceedings are primarily governed by the Insolvency Act of 2015. The act provides for how insolvent companies...

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A Review of Kenya’s Proposed Sovereign Wealth Fund

Nov 9, 2025

Kenya’s 2012 discovery of oil reserves in Northern Kenya and the subsequent establishment of a Sovereign Wealth Fund (SWF) mark a pivotal moment in the country’s fiscal and economic trajectory. As global commodity markets remain volatile and debt servicing pressures intensify, the need for structured, transparent, and forward-looking management of oil revenues has never been more urgent. Sovereign wealth funds are used globally to stabilize economies and finance strategic development. Sovereign funds offer countries like Kenya a unique opportunity to transform finite natural resources into long-term prosperity. Yet, despite its significance, Kenya’s SWF remains under-explored in public discourse. This topical aims to demystify the fund’s structure, legal framework, and macroeconomic rationale, while benchmarking it against...

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