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Recent Topicals

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Kenya Listed Banks H1’2020 Report

Sep 12, 2020

Following the release of the H1’2020 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, and our expectations of the banking sector for the rest of the year. Core Earnings per Share recorded a weighted decline of 33.6% in H1’2020, compared to a weighted growth of 9.0% recorded in H1’2019. As reported by most of the banks, the decline in the earnings was mainly attributable to the increased provisioning on the back of the subdued business environment. Asset quality for listed banks deteriorated in H1’2020 with the gross NPL ratio rising by 1.6% points to 11.6% from 10.0% in H1’2019. This was high compared to the 5-year average of 8.5%. The banking sector was also keen on restructuring loans in order to offer relief for its customers against the effects of COVID-19. The loan restru...

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CHYF Fact Sheet August vf

Sep 2, 2020

1. FUND PERFOMANCE *Historical Percentage you can expect to earn with the fund during one year of investment on basis of the so far realized monthly returns 2. FUND MANAGER’S REPORT AND OUTLOOK Fund Objective The Cytonn High Yield Fund is a specialized Collective Investment Scheme with exposure skewed towards investment in real estate assets. The Fund aims at capital preservation while earning high returns and maintaining sucient liquidity. The Fund aims to achieve above average returns that not only beat inflation but are also better than the yields oered by both government securities and fixed deposit. Portfolio Strategy The fund will largely be invested in fixed income and real estate related securities. Being a specialized Fund,...

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CMMF Fact Sheet August

Sep 2, 2020

1. FUND PERFOMANCE *Percentage you can expect to earn with the fund during one year of investment on basis of the so far realized monthly returns since inception. 2. FUND MANAGER’S REPORT AND OUTLOOK Fund Objective The Cytonn Money Market Fund is a low-risk fund that seeks to obtain a high level of current income while protecting investor’s capital and liquidity. Portfolio Strategy The portfolio objective will be to outperform the income yield available on money market call accounts and fixed deposit accounts by investing in interest-bearing securities and other short-term money market instruments. These securities are usually available to the wholesale or institutional clients. The Fund will also be managed conservatively with active ma...

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Business Restructuring Options

Aug 30, 2020

Susan Wojcicki the CEO of YouTube once said that; “life doesn’t always present you with the perfect opportunity at the perfect time. Opportunities come when you least expect them, or when you’re not ready for them. Rarely are opportunities presented to you in the perfect way, in a nice little box with a yellow bow on top. … Opportunities, the good ones, they’re messy and confusing and hard to recognize. They’re risky. They challenge you.”  The world-over is facing unprecedented times occasioned by the prevailing Pandemic and we have seen Governments and businesses putting in place various measures to ensure continuity of the economies and businesses alike. The role of the government is always to ensure that they provide the requisite operational environment for businesses and individuals to thrive. It is, therefore, the role of the various arms of government to work together in ensuring that we have the right fiscal an...

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Fintech Amid COVID-19

Aug 23, 2020

Over the past decade, Kenya has transformed into a technology epicenter largely propelled by financial technology (Fintech). This wave has been supported by various success stories such as M-PESA which disrupted the mobile money transfer space globally. This week, we will look at the fintech industry in general, how it has been affected by the spread of the coronavirus and finally, its importance to the general public. Having done related topicals previously i.e. Technology & Investments and Fintech Impact on Kenya’s Financial Services Industry, we decided to look at the topic in the four sections: Introduction: Fintech Industry in Kenya Factors that have shaped the Fintech Industry in Kenya Fintech’s growth during the COVID-19 pandemic...

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