Kenya capital markets lagged behind peers in Africa in Initial Public Offers (IPOs) and other secondary listings in the last five years, a new report shows.

Trading on Express Kenya shares has resumed at the Nairobi Securities Exchange (NSE) after a three month suspension following a takeover bid by the firm’s CEO Hector Diniz.

The East African Community Secretariat has rejected arbitration over non-payment of $777,649 to the contractor of the regional capital markets infrastructure project that has failed to take off in time, raising its implementation costs by $1.8 million.

Moody's Investors Service ("Moody's") has today downgraded to B2 (stable outlook), from B1 (Rating Under Review outlook), the long-term local currency deposit ratings of three Kenyan banks: KCB Bank Kenya Limited (DSE:KCB, NSE:KCB, USE:KCB), Equity Bank Kenya Limited (NSE:EQTY, RSE:EQTY, USE:EBL) and Co-operative Bank of Kenya Limited (NSE:COOP). Moody's has also downgraded the baseline credit assessments (BCAs) of the three banks to b2, from b1.