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Recent Topicals

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Global Markets Review

Oct 5, 2025

Global Economic Growth: According to the World Bank the global economy is projected to grow at 2.3% in 2025, lower than the 2.7% growth recorded in 2024. This forecast marks a significant downward revision from earlier projection in January of 2.7%, reflecting anticipated economic downturn, particularly due to rising international trade disputes and policy uncertainties. The World Bank’s growth projection of 2.3% is 0.5% points lower than the IMF’s 2025 forecast of 3.0%, which was also r...

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Nairobi Metropolitan Area (NMA) Land Report 2025

Sep 28, 2025

In July 2024, we released the Nairobi Metropolitan Area Land Report 2024, which highlighted that the Nairobi Metropolitan Area (NMA) land sector recorded an improvement in performance with the average annual price appreciation coming in at 3.9% in FY’2023/24, 0.6% points lower than the 4.5% appreciation recorded in FY’2022/23. The performance represented a 13-year average price appreciation CAGR of 8.2%, with the average selling price for land coming in at Kshs 132.7&...

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Kenya Listed Banks H1’2025 Report

Sep 21, 2025

Following the release of the H1’2025 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 H1’2025 Earnings Note KCB Group H1’2025 Earnings Note Standard Chartered Bank Kenya H1’2025 Earnings Note ABSA Bank Kenya H1’2025 Earnings Note

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Foreign Direct Investments (FDIs) in Kenya

Sep 14, 2025

Foreign Direct Investments (FDIs) refer to investments made by a firm or individual in one country into business interests located in another country. Generally, FDI takes place when an investor establishes foreign business operations or acquires foreign business assets, including establishing ownership or controlling interest in a foreign company. FDIs are crucial for economic growth as they not only bring investment capital but also facilitate technology transfer, management skills, and international trade integration, which can lead to higher productivity, employment, and economic stability in the host country. Kenya’s FDI inflows decreased by marginally 0.1% to USD 1,503.0 mn in 2024 from USD 1,504.0 mn in 2023 and the country has been experiencing dwindling FDIs amongst her peers, hence our interest into delving in this topical. We shall do an in-depth analysis of the historical trend of FDIs in the country, compare it to other developed and peer economies, as wel...

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Retirement Benefits Schemes Q2’2025 Performance Report

Sep 7, 2025

According to the ACTSERV Q2’2025 Retirement Benefits Schemes Investments Performance Survey, segregated retirement benefits schemes recorded a 6.6% return in Q2’2025, remaining unchanged from the return recorded in Q2’2024. The performance was largely supported by the performance of Equities investments made by the schemes which recorded an 21.5% gain, 21.2% points above from the 0.3% return recorded in Q2’2024, on the back of strong gains posted by the Nairobi All Share Index (NASI) of 17.3%, driven by 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 Q2’2025.  In recent industry news,

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