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Recent Topicals

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Nairobi Metropolitan Area (NMA) Serviced Apartments Report 2025

Dec 28, 2025

In 2024, we published the Nairobi Metropolitan Area Serviced Apartments Report 2024, which highlighted that the average rental yield for serviced apartments within the NMA increased by 0.5% points to 7.3% in 2024 from 6.8% in 2023. The improvement in performance was primarily on the back of improved occupancy rates and monthly charges by 5.9% points and 3.6%, to 72.2% and Kshs 3,155 per SQM, respectively, in 2024. This week, we update our report using 2025 market research data and by focusing on; Overview of the Kenyan Hospitality Sector, Introduction to Serviced Apartments, Supply and Distribution of Serviced Apartments within the NMA, Performance of Serviced Apartments in the NMA, Serviced Apartments Performance by Node Comparative Analysis - 2024/2025 Market Performance

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A Review of State-Owned Enterprises (SOEs) Privatization

Dec 21, 2025

Privatization involves selling government-owned assets (including shares in state-owned companies) to private individuals or businesses. This excludes selling new shares to current shareholders or financial restructuring within a company that might reduce the government's ownership percentage. The proof of long-term inefficiencies, misconduct, poor financial management, and waste in state owned enterprises (SOEs) necessitates the need for privatization which typically tries to increase economic efficiency by increasing a company's performance, hence eliminating or reducing the need for government economic intervention, attract private investment and foster innovation. Furthermore, privatizations have been utilized to promote competition in monopolized industries. By transitioning from state control to private ownership, these enterprises are envisioned to become more agile, responsive to market dynamics, and better positi...

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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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