Abstract: The purpose of this study was to investigate the investment banking businesses in Kenya and was guided by the following research questions: What are the typical services offered by the investment banking firms in Kenya?
What are the Challenges that investment banking firms face in Kenya? And what are the strategies that can be employed to address the challenges faced by investment banking firms in Kenya? The study was conducted using a cross sectional descriptive survey. The population of study was middle level managers of 14 Investment banks that are licensed by Capital Markets Authority and listed on the Nairobi securities Exchange. Purposive sampling was be used and data collection was done using self-administered questionnaire.
Collected data was coded, entered, cleaned and analyzed using the SPSS program. Data analysis was based on both descriptive statistics mean, frequencies, percentages, and standard deviations and inferential statistics normality and chi-square tests. The study results identified the typical investment banking services as: providing corporate restructuring services like mergers, acquisitions and divestitures; providing advisory services to companies and investors looking to develop projects under the PPP regulatory framework by working with the project sponsors to structure financing solutions and raise capital for the respective PPP projects; providing transaction advisory services to government agencies in order to develop tender documentation and manage the bid process; providing fund management services like unit trusts, investment trust funds, fixed income funds and equity funds; carrying out projects evaluation for purposes of executing projects finance transactions that involve equity and debt packages especially within the infrastructure sector such as: transportation, power and energy; and working with clients in the industrial and manufacturing sector to raise funding for expansion and upgrading of factory facilities.
The study also identified various challenges that are encountered by investment banks in Kenya as: declined good reputation due to collapse of some brokerage firms; availability of few professionals who are well trained to carry out the work of investment banks; contraction of the investment banking services as attributable to the emergency of the internet and e-commerce where most of the advisory services provided by these firms are readily and freely available on the internet; existence of skepticism by clients on the value of advice given by investment banks; information asymmetry; and competition as a really serious challenge.
The study further provides recommendation to investment banks to increase the intake of their services, by creating public awareness of their products and the related benefits to the majority of the public through participation in publicized Corporate Social Responsibility activities as an avenue to advertise their services. Furthermore, investments banks in Kenya can build synergy and graduate to high prestige investment bank status by forming syndicates among themselves and even with huge commercial banks.
Among the 31 locally owned banks, the government of Kenya has a shareholding in three of them, 27 of them are commercial banks and one is a mortgage finance institution, known as Housing Finance. The treacherous financial journey in Kenya dates back to the colonial times.
The British Empire declared Kenya a British Sphere of Influence and established the East African Protectorate in the year and officially declared Kenya as a colony in the year During that 19 th Century, the East African region engaged in trading activities and there was need for the use of currency. That was when the revolution in the banking sector kicked off.
In , a year after the establishment of the British Administration in Kenya, National Bank of India came into being. Many people think that the British were the first people to establish banks in the country but the first bank ever in Kenya came from India; National Bank of India. In , Standard Bank of South Africa came into being.
In , General Bank of Netherlands was set up.
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Finally, as the s wound down, an IPO boom dominated the perception of investment bankers. In , an eye-popping IPO deals were done — among the most ever in a single year -- with most going public in the internet sector. We're sending the requested files to your email now. If you don't receive the email, be sure to check your spam folder before requesting the files again.
Get instant access to video lessons taught by experienced investment bankers. Login Self-Study Courses. Financial Modeling Packages. Industry-Specific Modeling. Real Estate. Finance Interview Prep. Corporate Training. Technical Skills. View all Recent Articles. Investment Banking 51 Industry Guides Your Download is Ready. Inline Feedbacks. X Please check your email. Trading Economics members can view, download and compare data from nearly countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.
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Nairobi 25th November …. Equity has announced the appointment of Samuel Onyango as a Non-Executive In , a year after the establishment of the British Administration in Kenya, National Bank of India came into being. Many people think that the British were the first people to establish banks in the country but the first bank ever in Kenya came from India; National Bank of India. In , Standard Bank of South Africa came into being. In , General Bank of Netherlands was set up. In , Bank of India and Bank of Baroda were set up.
In , Habib Bank overseas Ltd was set up. Cooperative Bank of Kenya opened its doors in the year In , Kenya Commercial Bank was formed as a result of the merger between National and Grindlays Bank with the governing owning a stake of 60 percent.
In , the American Banks were established in Kenya i.