Topicals



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Recent Topicals

Nairobi Metropolitan Area (NMA) Land Report 2023

Jul 16, 2023

In July 2022, we released the Nairobi Metropolitan Area Land Report 2022, which highlighted that the Nairobi Metropolitan Area (NMA) land sector recorded an improvement in performance with the average annual price appreciation coming in at 3.2% in FY’2021/22, 1.7% points higher than the 1.5% appreciation recorded in FY’2020/21. The performance represented a 10-year average price appreciation CAGR of 11.4%, with the average selling price for land coming in at Kshs 126.8 mn in FY’2021/22, from Kshs 47.5 mn in 2011.   The performance was mainly driven by the increased demand for unserviced land in satellite towns of the NMA which recorded the highest annualized capital appreciation of 9.7%, compared to a market average of 3.2%. Th...

National Health Insurance Fund (NHIF) Review

Jul 9, 2023

The National Health Insurance Fund (NHIF) was established in 1966 through an act of parliament. Its core mandate is to provide affordable medical insurance coverage to all Kenyans, thereby enabling Kenyans to access quality and affordable medical services from medical institutions. The fund is governed by the NHIF Act (1998), which over the years has been subjected to a number of amendments to address the changing health care needs of the health sector in the country. Some of the notable changes in recent years include: Introduction of the Comprehensive Medical Insurance Scheme for Civil Servants (CMSCS) in January 2012.  The CMSCS is part of NHIF and provides medical insurance to civil servants and their eligible beneficiaries. The scheme enables civil servants to enjoy inpatient treatments without any limits in government, missions, and some private hospitals, Introduction of the Health In...

Kenya’s FY’2023/2024 Budget Review

Jun 25, 2023

On 15 June 2023, the National Treasury presented Kenya’s FY’2023/2024 National Budget, to the National Assembly highlighting that the total budget estimates for FY’2023/24 increased by 8.7% to Kshs 3.7 tn from the Kshs 3.4 tn in FY’2022/2023 while the total revenue inclusive of grants increased by 15.7% to Kshs 3.0 tn from the Kshs 2.6 tn in FY’2022/2023. The increase is mainly due to 17.3% increase in ordinary revenue to Kshs 2.6 tn for FY’2023/2024, from the Kshs 2.2 tn in FY’2022/23. The FY’2023/2024 budget focuses mainly on providing solutions to the heightened concerns on the high cost of living, the measures put in to accelerate economic recovery as well as undertaking a growth-friendly fiscal consolidation to preserve the country’s debt sustainability. Notably, the government projects to narrow the fiscal def...

Kenya Listed Banks Q1’2023 Report

Jun 18, 2023

Following the release of the Q1’2023 results by Kenyan 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 Q1’2023 Earnings Note KCB Group Q1’2023 Earnings Note Standard Chartered Bank Kenya Q1’2023 Earnings Note ABSA Bank Kenya Q1’2023 Earnings Note NCBA Group Q1&rs...

Kenya Listed Insurance FY’2022 Report

Jun 11, 2023

Following the release of the FY’2022 results by Kenyan insurance firms, the Cytonn Financial Services Research Team undertook an analysis on the financial performance of the listed insurance companies and the key factors that drove the performance of the sector. The report themed “Sustained Growth in Earnings on the back of improved Efficiency”, where we assess the main trends in the sector, and areas that will be crucial for growth and stability going forward, seeking to give a view on which insurance firms are the most attractive and stable for investment. As a result, we shall address the following: Insurance Penetration in Kenya, Key Themes that Shaped the Insurance Sector in FY’2022, Industry Highlights and Challenges, Performance of The Listed Insurance Sector in FY’2022, and, Conclusion & Outlook of the Insurance Sector. ...