Corruption costs Kenya up to 4pc of GDP annually, World Bank says
Published . Updated .
Key takeaways
- NAIROBI, Kenya, Nov 5 – Corruption is costing Kenya between 1.2 percent and 4 percent of its Gross Domestic Product (GDP) annually through bribery, fraudulent schemes and inflated public procurement,…
- Exposed: XLF, KRE, AFK, BAC, JPM
- Market reaction: price tracking starts with the next trading session.
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NAIROBI, Kenya, Nov 5 – Corruption is costing Kenya between 1.2 percent and 4 percent of its Gross Domestic Product (GDP) annually through bribery, fraudulent schemes and inflated public procurement,…
Directly affected
- No company is named in this report.
Indirectly affected
- XLF Financial Select Sector SPDR-1.4% 30d
Financial Select Sector SPDR: it holds banks. Linked by “bank” (banks) in this story.
- KRE SPDR S&P Regional Banking ETF-3.0% 30d
SPDR S&P Regional Banking ETF: it holds banks. Linked by “bank” (banks) in this story.
- AFK VanEck Africa Index ETF
VanEck Africa Index ETF holds stocks listed in Africa, which this story is about (“kenya”).
- BAC Bank of America-11.4% 30d
Bank of America (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “bank” (banks) in this story.
- JPM JPMorgan Chase+0.1% 30d
JPMorgan Chase (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “bank” (banks) in this story.
- WFC Wells Fargo+4.4% 30d
Wells Fargo (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “bank” (banks) in this story.
- C Citigroup-7.0% 30d
Citigroup (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “bank” (banks) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| XLF | -3.78% | -2.75% | base | after close | after close | after close | after close |
| KRE | -1.70% | -0.54% | base | after close | after close | after close | after close |
| AFK | -0.61% | -3.08% | base | after close | after close | after close | after close |
| BAC | -0.95% | -4.00% | base | after close | after close | after close | after close |
| JPM | -2.45% | -3.27% | base | after close | after close | after close | after close |
| WFC | -3.01% | -1.76% | base | after close | after close | after close | after close |
| C | +0.79% | -1.31% | base | after close | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Corruption costs Kenya up to 4pc of GDP annually, World Bank says Capital FM Africa
Source: Capital FM Africa
The price since 5 Nov 2026: Select Sector Spdr Tr (XLF) versus the S&P 500
| Company | When | Move | Status |
|---|---|---|---|
| Vaneck Etf Trust (AFK) | three days earlier | -3.08% | final price |
| Vaneck Etf Trust (AFK) | five days earlier | -0.61% | final price |
| Bank Of America (BAC) | three days earlier | -4.00% | final price |
| Bank Of America (BAC) | five days earlier | -0.95% | final price |
| Citigroup (C) | three days earlier | -1.31% | final price |
| Citigroup (C) | five days earlier | +0.79% | final price |
| Jpmorgan Chase (JPM) | three days earlier | -3.27% | final price |
| Jpmorgan Chase (JPM) | five days earlier | -2.45% | final price |
| Spdr Series Trust (KRE) | three days earlier | -0.54% | final price |
| Spdr Series Trust (KRE) | five days earlier | -1.70% | final price |
| Wells Fargo (WFC) | three days earlier | -1.76% | final price |
| Wells Fargo (WFC) | five days earlier | -3.01% | final price |
| Select Sector Spdr Tr (XLF) | three days earlier | -2.75% | final price |
| Select Sector Spdr Tr (XLF) | five days earlier | -3.78% | final price |
Congressional trades in the stocks in this story
- Rep. Rohit Khanna sold Bank Of America (BAC) (held by a spouse), worth $1,001 - $15,000 on 9 Sep 2026. That is 57 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Laurel Lee sold Bank Of America (BAC) (held by a spouse), worth $50,001 - $100,000 on 24 Aug 2026. That is 73 days before publication. Filed 16 Oct 2026. View the filing.
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM), worth $15,001 - $50,000 on 4 Sep 2026. That is 62 days before publication. Filed 1 Oct 2026. View the filing.
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM) (held by a spouse), worth $15,001 - $50,000 on 4 Sep 2026. That is 62 days before publication. Filed 1 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Jpmorgan Chase (JPM) (held by a spouse), worth $100,001 - $250,000 on 27 Aug 2026. That is 70 days before publication. Filed 4 Sep 2026. View the filing.
- Rep. Rohit Khanna bought Wells Fargo (WFC) (held by a spouse), worth $1,001 - $15,000 on 25 Sep 2026. That is 41 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Wells Fargo (WFC) (held by a dependent child), worth $15,001 - $50,000 on 17 Sep 2026. That is 49 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Wells Fargo (WFC) (held by a dependent child), worth $1,001 - $15,000 on 15 Sep 2026. That is 51 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Maria Elvira Salazar sold Citigroup (C), worth $1,001 - $15,000 on 24 Sep 2026. That is 42 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Citigroup (C) (held by a spouse), worth $1,001 - $15,000 on 4 Sep 2026. That is 62 days before publication. Filed 7 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around Select Sector Spdr Tr (XLF)
Companies mentioned with this story
- XLF Select Sector Spdr Tr
In “Corruption costs Kenya up to 4pc of GDP annually, World Bank says,” Select Sector Spdr Tr (XLF) is linked, with no stored direction, medium confidence. Reason on file: Financial Select Sector SPDR: it holds banks. Linked by “bank” (banks) in this story
- KRE Spdr Series Trust
In “Corruption costs Kenya up to 4pc of GDP annually, World Bank says,” Spdr Series Trust (KRE) is linked, with no stored direction, medium confidence. Reason on file: SPDR S&P Regional Banking ETF: it holds banks. Linked by “bank” (banks) in this story
- AFK Vaneck Etf Trust
Vaneck Etf Trust (AFK) is linked, with no stored direction, medium confidence in the 5 Nov 2026 story “Corruption costs Kenya up to 4pc of GDP annually, World Bank says.” Reason on file: VanEck Africa Index ETF holds stocks listed in Africa, which this story is about (“kenya”)
- BAC Bank Of America
Bank Of America (BAC) is linked, with no stored direction, medium confidence in the 5 Nov 2026 story “Corruption costs Kenya up to 4pc of GDP annually, World Bank says.” Reason on file: Bank of America (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “bank” (banks) in this story
- JPM Jpmorgan Chase
Jpmorgan Chase (JPM) is linked, with no stored direction, medium confidence in the 5 Nov 2026 story “Corruption costs Kenya up to 4pc of GDP annually, World Bank says.” Reason on file: JPMorgan Chase (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “bank” (banks) in this story
- WFC Wells Fargo
For “Corruption costs Kenya up to 4pc of GDP annually, World Bank says,” Wells Fargo (WFC) is linked, with no stored direction, medium confidence. Reason on file: Wells Fargo (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “bank” (banks) in this story
- C Citigroup
For “Corruption costs Kenya up to 4pc of GDP annually, World Bank says,” Citigroup (C) is linked, with no stored direction, medium confidence. Reason on file: Citigroup (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “bank” (banks) in this story
Select Sector Spdr Tr (XLF)
The 5 Nov 2026 story “Corruption costs Kenya up to 4pc of GDP annually, World Bank says” names Select Sector Spdr Tr (XLF) because of this story.
For Select Sector Spdr Tr (XLF), the reason on file says Financial Select Sector SPDR: it holds banks. Linked by “bank” (banks) in this story
A second company, Spdr Series Trust (KRE), is listed for a different reason: SPDR S&P Regional Banking ETF: it holds banks. Linked by “bank” (banks) in this story
The price range for Select Sector Spdr Tr (XLF), and the dates in the story
AFK traded between 25.64 and 25.83 across 1 sessions. The latest close on file is 25.83. KRE traded between 67.80 and 71.93 across 20 sessions. The latest close on file is 70.61. XLF traded between 52.82 and 56.03 across 20 sessions. The latest close on file is 55.07.
A simple score for Select Sector Spdr Tr (XLF)
46 out of 100
“Corruption costs Kenya up to 4pc of GDP annually, World Bank says” scores 46 out of 100. The score uses 1 sources, and 7 linked companies.