Kenya

Nine insurance brokerage firms have been deregistered after failing to comply with the Insurance Act, effectively barring them from signing up any new business.

Despite extending the deadline for second issue by 52 days, the M-Akiba retail bond has failed to hit the target having achieved a subscription of 24.8% equivalent to Sh 247.8 Million.

The Central Bank of Kenya (CBK) has granted authority to French multinational banking institution Société Générale (SG) to open a representative office in Kenya following the fulfilment of stipulated authorisation requirements.

Kenya’s Ministry of Treasury has decided to extend the closing date of its mobile traded bond sale by eight weeks to 11 September from 21 July 2017.