Features of the week
Britam and Telkom Partner on Insurance Cover
- Britam and Telkom Kenya have partnered on a deal to provide mobile-based insurance products under “Life Bila Noma cover” to small-scale traders.
- The cover will provide telecom and insurance bundles – data, voice minutes, SMS, personal accident and last-expense insurance
- According to Britam, the partnership is part of the group’s strategy to build a customer-centric organization and offer accessible financial solutions.
- The cover has two options Life 200 and Life 300
- We note that insurance penetration remains low in the country (2019: 2.3% from 2.4% in 2020). The low penetration rate has been attributed to factors such as lack of awareness, low income levels and expensive premiums. We opine that the customer-focused strategy will see increased affordability of products
Equities Market Summary
Nairobi Securities Exchange Performance
The All Share Index (NASI) and edged up by 0.5% while the NSE 20 eased by 0.1% w-o-w to close the week at 163.64 and 1,856.55 respectively. Equity turnover fell by 41.5% to KES 2.3 billion while the volume traded fell by 43.0% to 60.6 million. Notable price gains in the week included; NCBA (4.2% w/w to KES 25.05), Equity (2.45 w/w to KES 48.65), KCB (2.0% w/w to KES 44.10). Safaricom’s price rose by 0.5% w/w to KES 37.95. In the coming week, we expect price stability.