Pergamon Investment Bank

Pergamon Investment Bank Empowering Africa’s investors with innovative solutions. Let us guide you to financial success with tailored strategies and expert insights.

Pergamon Investment Bank offers Share Trading, Fixed Income, Corporate Finance, and Institutional Brokerage.

Kenya’s economic story entering the second half of 2026 is one of resilience under pressure.Growth is expected to hold a...
27/08/2026

Kenya’s economic story entering the second half of 2026 is one of resilience under pressure.

Growth is expected to hold at 4.5%-4.7%, supported by recoveries in agriculture, construction and services. At the same time, inflation has risen to 6.5%, public debt has crossed KES 13 trillion, and increased domestic borrowing could keep lending rates elevated.

For investors, the picture is nuanced. Local equities are already up 27.6% year to date, with continued momentum expected in banking, telecommunications, energy and manufacturing.

Our latest Economic Update & Outlook examines the forces shaping markets in H2 2026 and what they could mean for businesses and investors.

Read the full report: https://pib.africa/research/

To learn more about what these developments could mean for your investment strategy, reach out to our team at [email protected] or +254 709 227 100.

𝐊𝐄𝐒 𝟏𝟎𝟎,𝟎𝟎𝟎 𝐢𝐧𝐯𝐞𝐬𝐭𝐞𝐝. 𝐊𝐄𝐒 𝟏𝟐,𝟕𝟑𝟕 𝐢𝐧 𝐚𝐧𝐧𝐮𝐚𝐥 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭. 𝐏𝐚𝐢𝐝 𝐭𝐰𝐢𝐜𝐞 𝐚 𝐲𝐞𝐚𝐫.With interest rates where they sit today, fixed i...
25/08/2026

𝐊𝐄𝐒 𝟏𝟎𝟎,𝟎𝟎𝟎 𝐢𝐧𝐯𝐞𝐬𝐭𝐞𝐝. 𝐊𝐄𝐒 𝟏𝟐,𝟕𝟑𝟕 𝐢𝐧 𝐚𝐧𝐧𝐮𝐚𝐥 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭. 𝐏𝐚𝐢𝐝 𝐭𝐰𝐢𝐜𝐞 𝐚 𝐲𝐞𝐚𝐫.

With interest rates where they sit today, fixed income is doing a lot of the heavy lifting in well-built portfolios, and infrastructure bonds are one of the more overlooked ways retail investors can access that yield directly.

The IFB1/2021/021 infrastructure bond carries a 12.737% annual coupon. Invest KES 100,000 and earn KES 12,737 in interest annually, paid out as KES 6,368.50 in March and KES 6,368.50 in September. That income is completely tax free, which matters more than most investors realize once you compare it against the after-tax return on other instruments.

This bond trades on the secondary market, so pricing and liquidity move with interest rates. A Pergamon advisor can walk you through what that means for your specific timeline and how it sits alongside the rest of your holdings before you commit.

Reach out to [email protected] or call +254 709 227 100 to find out how it fits your portfolio.

You do not need millions to invest in a government bond!FXD1/2020/15 is now available through Pergamon Investment Bank f...
14/08/2026

You do not need millions to invest in a government bond!

FXD1/2020/15 is now available through Pergamon Investment Bank from KES 50,000, offering a 12.756% annual coupon with payments made twice a year.

An investment of KES 50,000 could generate approximately KES 5,420 in annual income, KES 2,520 more than the same amount in a typical savings account.

You will own the bond directly, with the option to trade it on the NSE secondary market, subject to prevailing market conditions.

Ready to put your money to work? Speak to a Pergamon Advisor today.

📧 [email protected]
📞 +254 709 227 100

*Returns shown are illustrative and may be affected by applicable taxes and prevailing rates. Secondary-market prices and liquidity are subject to interest-rate movements.

Three infrastructure bonds are back in the market. How should investors approach the auction?The National Treasury is se...
11/08/2026

Three infrastructure bonds are back in the market. How should investors approach the auction?

The National Treasury is seeking KES 150 billion through the reopening of:
▪ IFB1/2019/016, 9.3 years, 11.750% coupon
▪ IFB1/2021/018, 12.7 years, 12.667% coupon
▪ IFB1/2021/021, 16.2 years, 12.737% coupon

Pergamon’s August 2026 Fixed Income Pre-Auction Note examines the market and liquidity outlook, the factors expected to shape investor demand, and conservative and aggressive bidding guidance for each bond.

The auction closes on 12 August 2026, with a value date of 17 August 2026.

With abundant market liquidity and the tax-exempt nature of infrastructure bonds expected to support strong demand, informed pricing will matter.

Review the full note for Pergamon’s recommended bidding ranges, then speak to our Financial Advisors about the bond and bid range best aligned with your investment objectives.

Access the full pre-auction note:https://pib.africa/resource/fixed-income-pre-auction-note-august-2026/

Speak to our Financial Advisors: [email protected] | +254 709 227 100

Three reopened infrastructure bonds: One tax efficient opportunity.If you have been watching the fixed income space, thi...
30/07/2026

Three reopened infrastructure bonds: One tax efficient opportunity.

If you have been watching the fixed income space, this is one worth a closer look. Central Bank of Kenya reopened Infrastructure Treasury Bonds offer government backed exposure, long term income visibility, and no withholding tax.

▪ IFB1/2019/016: 11.7500% coupon rate
▪ IFB1/2021/018: 12.6670% coupon rate
▪ IFB1/2021/021: 12.7370% coupon rate

Minimum bid for retail investors: KES 50,000
Bid submission deadline: 12 August 2026 at 10:00 a.m.

The full prospectus with additional details about the bonds can be viewed here: https://tinyurl.com/IFBprospectus

To support your decision, or to assist you in the process, reach out to Pergamon at [email protected] or +254 709 227 100.

Thinking about investing on the NSE but not sure where to start?In our latest Stock Recommendations, Pergamon Investment...
28/07/2026

Thinking about investing on the NSE but not sure where to start?

In our latest Stock Recommendations, Pergamon Investment Bank highlights four NSE shares we believe are strong long‑term opportunities: Safaricom, HF Group, KenGen and Kenya Power. These companies are delivering growing profits, steady or rising dividends, and attractive potential price gains for patient investors.

Even if you are starting with as little as KES 10,000, this report can help you decide where to put your money using research, not guesswork. Explore the share prices, target prices and the thinking behind each pick here: https://pib.africa/resource/stock-recommendations-28-july-2026/

If you would like help getting started or reviewing your portfolio, talk to our team at [email protected] | +254 709 227 100.

Where are the government bond opportunities right now?As markets adjust to rising geopolitical and inflation risks, Keny...
21/07/2026

Where are the government bond opportunities right now?

As markets adjust to rising geopolitical and inflation risks, Kenya’s long-term government securities continue to offer a compelling way to preserve capital, earn steady income and build wealth over time.

Pergamon’s July 2026 Fixed Income Pre-Auction Note (Auction II) breaks down:
▪ The macro and liquidity backdrop shaping investor sentiment.
▪ The latest reopenings of FXD1/2019/020 and FXD1/2022/025 and what they mean for returns.
▪ Conservative and aggressive bidding guidance from our Research team.

Access the full note and make more informed investment decisions on our website (link in bio).

Whether you’re an experienced fixed income investor or diversifying into bonds for the first time, timely, research‑driven insights can help you price risk and optimise your bids.

Speak to our Financial Advisors: [email protected] | +254 709 227 100

Where are the government bond opportunities right now?As markets adjust to rising geopolitical and inflation risks, Keny...
21/07/2026

Where are the government bond opportunities right now?

As markets adjust to rising geopolitical and inflation risks, Kenya’s long-term government securities continue to offer a compelling way to preserve capital, earn steady income and build wealth over time.

Pergamon’s July 2026 Fixed Income Pre-Auction Note (Auction II) breaks down:
▪ The macro and liquidity backdrop shaping investor sentiment.
▪ The latest reopenings of FXD1/2019/020 and FXD1/2022/025 and what they mean for returns.
▪ Conservative and aggressive bidding guidance from our Research team.

Access the full note and make more informed investment decisions: https://pib.africa/primary-bonds-pre-auction-note/

Whether you’re an experienced fixed income investor or diversifying into bonds for the first time, timely, research‑driven insights can help you price risk and optimise your bids.

Speak to our Financial Advisors: [email protected] | +254 709 227 100

Kenya’s market delivered a strong Q2‑2026, with equities, select sectors and primary bond auctions all outperforming des...
13/07/2026

Kenya’s market delivered a strong Q2‑2026, with equities, select sectors and primary bond auctions all outperforming despite softer foreign flows and rising public debt.

Equities rallied on the back of robust banking and telecom earnings, lifting key NSE indices and doubling turnover year‑on‑year. Fresh listings and sector rotation into autos, energy and commercial services further broadened the uptrend, with top counters such as Equity Group, Safaricom and KCB anchoring liquidity.

Fixed income investors shifted focus to the primary market as rising yields and inflation slowed secondary trading in longer‑dated bonds. Treasury auctions were oversubscribed, allowing the government to meet much of its funding needs through reopenings and reinvestment flows, even as the yield curve pushed higher at the long end.

On the macro front, inflation edged up but began to ease into June, the shilling held relatively firm against the dollar, and oil prices dropped sharply after the US–Iran peace deal – a mix that improves the outlook for growth and, over time, interest rates. Nonetheless, public debt continues to climb, reinforcing the case for investors to demand a premium for duration risk.

For investors, Q3‑2026 opens up opportunities to rotate into well‑capitalised banks, select telecom names and quality government securities that offer attractive yields as inflation expectations cool.

To explore the full analysis behind these insights, read the Pergamon Q2‑2026 Quarterly Market Report here: https://pib.africa/quarterly-market-report/ and connect with the Pergamon team for a tailored Q3‑2026 positioning conversation via [email protected] or +254 709 227 100.

A strong earnings season, a fresh  listing and standout upside across key counters are setting the tone for the equities...
07/07/2026

A strong earnings season, a fresh listing and standout upside across key counters are setting the tone for the equities market.

From Family Bank’s recent listing to HF Group’s 32.1% upside potential, and with KCB, DTB, Safaricom and KenGen also showing compelling long-term opportunities, the case for selective investing has rarely looked better.

Turn insight into opportunity.
Read the full Stock Recommendations Report and trade with Pergamon Investment Bank.

View the report: https://pib.africa/stock-recommendations/

Contact [email protected] | +254 709 227 100

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