KASNEB CIFA Intermediate case studies
KASNEB CIFA Intermediate · Put your knowledge to work in context.
CIFA - Certified Investment and Financial Analysts - is a KASNEB qualification described by the Board as designed for persons who aspire to excel as investment, securities and financial analysts, portfolio managers, investment bankers, fund managers or consultants in national and global financial markets. KASNEB states that the programme equips candidates with the skills, values and knowledge to thrive in today's dynamic financial landscape, so the emphasis is on applied analytical work rather than pure theory. The KASNEB CIFA Intermediate case studies are 5 cases and about 3,878 words.
1Funding a 120-Day Inventory Build: Discount Paper, a Backstop, or the Overdraft
Mzigo Haulage Ltd, a Nairobi logistics operator, must fund a KES 50 million seasonal inventory build for exactly 120 days. Receipts from two signed contracts are expected on day 120, but the CFO warns that on past form either contract could slip by 30-45 days.
680 words, about 3 min2Mwamba Foods: Growth, Capitalised Development and a Headline P/E That Flatters
Mwamba Foods Ltd reports FY revenue of KES 4,200m (prior year KES 3,559m), net profit KES 380m and operating cash flow KES 120m. Receivable days have risen from 62 to 95, inventory days from 70 to 88, and payable days have fallen from 52 to 45.
696 words, about 3 min3Kasuku Pension Scheme: Chasing an 11% Discount Rate with a 70/30 Portfolio
The Kasuku Pension Scheme holds KES 10 billion of assets against actuarial liabilities discounted at 11% p.a., giving a funding ratio of 96%. The current policy is 70% equities and 30% bonds.
752 words, about 4 min4Nakuru Auto Parts: Hedging a USD 1.5 Million Net Payable on a 4% Margin
Nakuru Auto Parts imports components and exports a small volume of finished parts. In 90 days it must pay USD 2.4 million to a supplier and will receive USD 0.9 million from an overseas customer.
759 words, about 4 min5Kito Capital: An IPO Allocation, a Free Trip and a Bonus Tied to the Quarter
Amani Otieno is a portfolio manager at Kito Capital, which manages KES 12 billion. Safari Securities, which earns roughly KES 24 million a year in commissions from Kito's dealing, has invited Amani to a three-day 'frontier markets conference' in Cape Town - flights, hotel and golf, worth about KES 450,000 - and has offered him a personal allocation of 20,000 shares in the KES 42 IPO it is bookrunning.
991 words, about 5 min