Mwango Capital

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Mwango Capital

@MwangoCapital

|❤️Financial Research & Analysis on East African Markets| |🗞️Newsletter: https://t.co/vXkqHKrslm| | Instagram/: https://t.co/jLHxuIyENa

Katılım Kasım 2020

1K Takip Edilen172.4K Takipçiler

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Mwango Capital@MwangoCapital·2h

🎙 Join us tomorrow at 8 PM on #MwangoSpaces on understanding Delmonte Kenya. Wayne Cook, the MD of Delmonte Kenya, joins us to discuss the company’s impact, strategy, and vision. Hosted by Terryanne Chebet. Set a reminder: mwangocapital.com/event/unpackin…

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Mwango Capital@MwangoCapital·25m

The information Memorandum for the KMRC MTN is here: Link: mwangocapital.com/wp-content/upl… Notes: —KMRC opens 2026 with a ~KES 3B Sustainability Fixed Rate Note (Tranche 2 under a ~KES 10.5B programme), with proceeds fully allocated to refinancing green and social housing assets. —The notes offer a fixed return of 12.20% p.a. (expected tax-exempt subject to KRA confirmation), paid semi-annually, structurally enhancing net investor yield. —Tenor is 8 years with an amortising structure and ~5.1-year weighted average life, with scheduled annual principal repayments reducing duration over time. —The instrument is unsecured but unsubordinated, ranking pari passu with senior obligations, positioning it above subordinated bank capital in the risk hierarchy. —Minimum investment is KES 100,000 in multiples of KES 100,000, materially widening access across both retail and institutional investor segments. —Offer runs Apr 28 to May 12, 2026, with settlement May 21 and NSE listing May 25, supporting defined entry timing and secondary market liquidity.

Mwango Capital@MwangoCapital

𝐑𝐨𝐮𝐧𝐝𝐮𝐩 𝐨𝐟 𝐓𝐨𝐝𝐚𝐲'𝐬 𝐓𝐨𝐩 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐂𝐨𝐧𝐭𝐞𝐧𝐭 [𝟐𝟖𝐭𝐡 𝐀𝐩𝐫 𝟐𝟎𝟐𝟔]: 1. After Safaricom and EABL’s successful MTN issuances in late 2025, KMRC is opening 2026 with a ~KES 3B sustainability fixed-rate note (Tranche 2 of ~KES 10.5B programme) with proceeds fully allocated to green and social housing refinancing. The notes carry an 8-year tenor (5.11-year WAL) with amortized repayment, with offer open Apr 28–May 12, 2026 and NSE listing expected May 25, 2026.

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Mwango Capital@MwangoCapital·40m

Family Bank’s shareholder register changed materially in 2025 after the private placement raised issued shares by 27.4% to 1.66B shares from 1.31B shares. — KTDA remained the largest shareholder with 315.63M shares, raising its stake to 19.0% from 16.3% in 2024. — The Estate of Rachael Njeri Muya retained 167.14M shares, but was diluted to 10.1% from 12.8%, while Daykio Plantations retained 158.46M shares and was diluted to 9.5% from 12.1%.

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Mwango Capital@MwangoCapital·1h

Kenya Re is exploring the establishment of an Asset Management Subsidiary as part of its strategy to diversify revenue streams. —They are seeking a qualified consultant to assess the commercial, financial, and strategic viability of the proposed subsidiary. —The assignment will also cover market entry strategy, transaction advisory, regulatory alignment, and an implementation roadmap. —Submission deadline: 12th May 2026.

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Mwango Capital@MwangoCapital·1h

The information Memorandum for the I&M Bank MTN is here Link: mwangocapital.com/wp-content/upl…. Notes: —I&M Bank launches a KES 20B Medium Term Note programme, with the first tranche sized at up to KES 10B and a KES 3B greenshoe option to absorb excess demand. —The notes offer a fixed return of 12.20% p.a. (subject to 15% WHT) over a 5.5-year tenor, with semi-annual interest payments and a full bullet principal repayment at maturity. —Minimum investment is set at KES 500,000, with additional allocations in multiples of KES 50,000. —The structure is unsecured and subordinated, ranking below depositors and senior creditors. —Proceeds will be deployed into onward lending, long-term funding, and Tier II capital strengthening —The notes will be listed on the NSE Fixed Income Securities Market, with the offer open from 30 April to 15 May 2026 and listing expected on 21 May 2026. —Total issue costs amount to KES 48.15M, covering CMA approval fees of KES 20M and transaction advisory fees of KES 26.5M, all borne by the bank, with an additional placement fee of between 0.5% and 1% payable to parties that successfully bring in investors.

Mwango Capital@MwangoCapital

The MTN fest continues: —I&M Bank has launched a Medium-Term Note programme of up to KES 20B, with Tranche 1 targeting up to KES 10B and a greenshoe option of up to KES 3B. — The fixed-rate notes carry a 12.20% p.a. coupon, payable semi-annually, with a tenor of 5 years and 6 months. — Proceeds will support onward lending, long-term funding for growth and expansion, and strengthening of the bank’s Tier II capital. — The notes will be listed on the NSE Main Fixed Income Securities Market Segment. — Offer opens at 9.00am on April 30, 2026 and closes at 5.00pm on May 15, 2026. — Allocation and allotment is set for May 15, settlement on May 18, and listing on May 21, 2026.

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Mwango Capital@MwangoCapital·2h

MansaX and Kenya Re are among the disclosed institutional holders of Family Bank: — Kenya Re discloses a 1.0% stake in Family Bank, valued at KES 252M as of December 2025. — MansaX Special Fund - KES disclosed Family Bank as a 1.52% holding of its KES 132.18B AUM in Q1 2026, implying exposure of ~KES 2.01B. Using Kenya Re’s valuation as a rough marker, MansaX’s exposure would imply an estimated ~8.0% stake in Family Bank ahead of a planned listing by introduction in Q2 2026.

Mwango Capital@MwangoCapital

Family Bank has raised KES 8.004B in fresh equity through a private placement of new ordinary shares, oversubscribed by 131% against a KES 6.09B target. As of September 2025, the bank reported Core Capital of KES 19.61B and Total Shareholders’ Funds of KES 22.37B. The new injection materially boosts capital strength and lending headroom.

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Mwango Capital@MwangoCapital·3h

Kilimani Hotel Suites, Britam Life’s 100%-owned associate, delivered stronger earnings in 2025, with revenue up 3.0% YoY to KES 655.3M, interest income up 63.2% to KES 67.4M, and finance costs down 42.5%. This lifted PBT 51.8% to KES 105.3M and PAT 31.6% to KES 73.7M, while net assets rose 6.4% to KES 1.22B.

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Mwango Capital@MwangoCapital·4h

This is the document that has been doing rounds as the Finance Bill 2026 mwangocapital.com/wp-content/upl… Have a read:

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Mwango Capital@MwangoCapital·4h

10. Thank you for reading. Check out more of our work on: ▪️WhatsApp Channel: whatsapp.com/channel/0029Va… ▪️Our newsletter: mwangocapital.substack.com ▪️Our Telegram Channel: t.me/MwangoCapital ▪️Our Instagram Page: instagram.com/mwangocapital/

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Mwango Capital@MwangoCapital·4h

9. China will scrap tariffs for 53 African countries from 12 December 2026 to 30 April 2028, excluding Eswatini, expanding a duty-free regime that had already covered 33 least-developed African nations. bbc.com/news/articles/…

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Mwango Capital@MwangoCapital·4h

5. Kenya's forex reserves fell by USD 13M last week to USD 13.226B, equivalent to 5.6 months of import cover.

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Mwango Capital@MwangoCapital·4h

4. African markets last week: 🟢Best performer was Nigeria NGX ASI +8.72% (YTD: +55.69%) 🔴Worst performer was Morocco MASI –2.90% (YTD: –1.39%)

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Mwango Capital@MwangoCapital·4h

3. Kenyan markets last week: 🟢Best performer was Car and General ▲11.5% to KES 73.00 🔴Worst performer was AMAC▼7.3% to KES 2.14

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Mwango Capital@MwangoCapital·4h

2. NCBA has sent out an announcement saying the CMA has approved circulation of the Offer Documentation to shareholders for Nedbank’s partial pro-rata offer to acquire up to 1.09B NCBA shares, representing ~66.0% of issued shares. — The documents to be sent to shareholders are the Offer Document, the Board’s Shareholders’ Circular, and the Independent Adviser’s Circular prepared by Faida Investment Bank. — The offer opens on 28 May 2026 at 9.00am EAT and closes on 10 July 2026 at 5.00pm EAT, with results due by 21 July 2026.

Mwango Capital@MwangoCapital

NCBA Group yesterday confirmed receipt of an acquisition offer from Nedbank Group Limited, a South Africa–listed bank, seeking to acquire up to 66% of NCBA. A thread on the key details from the Deal:

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Mwango Capital@MwangoCapital·4h

𝐑𝐨𝐮𝐧𝐝𝐮𝐩 𝐨𝐟 𝐓𝐨𝐝𝐚𝐲'𝐬 𝐓𝐨𝐩 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐂𝐨𝐧𝐭𝐞𝐧𝐭 [𝟒𝐭𝐡 𝐌𝐚𝐲 𝟐𝟎𝟐𝟔]: 1. Kenya added 9 million mobile money subscriptions in the year to December 2025, bringing the total to 51.36 million, while subscriptions rose 5.6% over the period to December, pushing penetration to 98.0%.

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Mwango Capital@MwangoCapital·1d

Data from Kpler shows Dangote Refinery jet fuel exports rose 770% from ~18,000 bpd in April 2024 to 158,000 bpd in April 2026. From this, Europe took ~70,000 bpd in April 2026 (+133% YoY vs ~30,000 bpd in April 2025), Africa ~69,000 bpd in April 2026 (+283% vs April 2024, +115% YoY), and the Americas ~14,000 bpd in April 2026 (down from a ~55,000 bpd peak in February 2025) over the same period. africa.businessinsider.com/local/markets/…

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Mwango Capital@MwangoCapital·5h

Britam Life Assurance increased its HF Group stake in September 2025 after investing KES 353M, raising its shareholding to 45.93%, while Britam Group’s total interest stood at 49.89% and the fair value of its HF stake more than doubled to KES 9.37B from KES 4.10B in 2024.

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