28 May 2020 - NAIROBI, Kenya, May 28 – Supply chain software company MACmobile has launched a new platform that can support “live”  streaming of formal market retail “sales out” data from till points as well as map the relevant stock holding in-store simultaneously in the Kenyan Market. This follows a…

28 May 2020 - WASHINGTON, United States, May 28 – New orders for US manufactured goods cratered in April by 17.2 percent as the COVID-19 pandemic shut down factories nationwide, the Commerce Department reported Thursday. That decline came after a 16.6 percent drop in March, taking sales down to $170 billion in…

28 May 2020 - NAIROBI, Kenya, May 28 – The coronavirus pandemic has forced Fairmont Hotels and Resorts to close shop indefinitely and fire its entire workforce. In a statement, the company’s Country Manager Mehdi Morad said the coronavirus pandemic is preventing the hotel chain from carrying out its contractual…

28 May 2020 - NAIROBI, Kenya, May 28 – Equity Group has registered a decline in profit after tax by 14 percent to Sh5.3 billion in the first quarter of the year, attributable to a tenfold increase in its loan loss provision to Sh3 billion. A year earlier, its provisions on loans were Sh300 million. In a…

28 May 2020 - NAIROBI, Kenya, May 28 – Kenyan Doctor Nyachira Muthiga is set to be honored for her exemplary work in the fight against COVID -19 in the country. She is among this year’s Kotex ‘She Can’ women Honorees, including Environmentalist Liz Mazingira, Publicist Anyiko Owoko and visually impaired persons…

28 May 2020 - JOHANNESBURG, South Africa, May 28 – As the novel coronavirus wreaks global havoc, Bill Gates is the new bete noire for conspiracy theorists worldwide including in Africa where a Kenyan politician’s false online post has added major fuel to the spread of misinformation. While Gates’s vaccine…

28 May 2020 - KISUMU, Kenya, May 28 – All the 47 county governments have raised Sh6.1 billion through the supplementary budget to support their response towards the coronavirus pandemic. The Council of Governors chairman Wycliffe Oparanya made the announcement on Wednesday in Kisumu where he said counties are…

28 May 2020 - NAIROBI, Kenya, May 28 – Members of the Kenya Private Sector Alliance (KEPSA) have called on the government to gradually and partially re-open the economy to preserve the economy and support health response.  Speaking during a virtual meeting with the government through the office of the National…

27 May 2020 - NAIROBI, Kenya, May 27-The Central Bank of Kenya has maintained its benchmark lending rate at 7.00 percent, noting the policy measures adopted in March and April to tackle the effects of the coronavirus were having the intended effect on the economy, and are still being transmitted. Wednesday’s…

27 May 2020 - NAIROBI, Kenya, May 27 – Poultry farmers now want the Ministry of Trade to intervene on discriminative tariffs charged by the Ugandan government on chicken meat.  Uganda Revenue Authority has in the past two years charged, Kenyan Chicken meat export a 25 percent of taxes – 18 percent of VAT, 1…

27 May 2020 - NAIROBI, Kenya, May 27- In an effort to further support Kenyans affected by the COVID-19 pandemic, Glovo, a technology company that links motorcycle riders to consumers wishing to buy and deliver products, has partnered with various organizations in order to enable its users in Kenya to donate via…

27 May 2020 - NAIROBI, Kenya, May 27 – National carrier Kenya Airways has flown further into losses, posting a net loss of Sh12.98 billion for the year ended December 2019, compared to a Sh7.558 billion loss posted a year earlier. The company has largely attributed the poor performance to the adoption of IFRS 16…

27 May 2020 - NAIROBI, Kenya, May 27 – Oxfam has warned that millions of people in East and Central Africa, already suffering due to flooding and the impact of coronavirus, are at risk of increased hunger and poverty as the region braces for the latest generation of locusts which are due to hatch in June ―just…

27 May 2020 - PARIS, France, May 27 – The energy industry is set to suffer a record drop in investment due to the coronavirus fallout, the IEA said on Wednesday, and while renewables are likely to fare better than oil, any swift economic recovery could create a global fuel crunch. In its annual report on energy…

27 May 2020 - NAIROBI, Kenya, May 27 – An estimated 90,000 people in Korogocho, Kawangware, Kibra, and Mathare are set to benefit from Safaricom Foundation-funded water projects geared towards prevention of the spread of COVID-19. The water projects are being implemented in partnership with Shining Hope for…

26 May 2020 - NAIROBI, Kenya May 25 – The Co-operative Bank of Kenya has partnered with motor vehicle dealer, Simba Corporation in a deal that will see their customers benefit from up to 95 percent financing while purchasing FUSO trucks. Through a statement issued Monday, the two firms noted that the customers…

26 May 2020 - NAIROBI, Kenya, May 26- Standard Chartered Bank says it will not meet its dividend payment date as it will not be able to hold an Annual General Meeting with its shareholders, where such matters are approved. The cancellation of the AGM is in obedience to the government’s social distancing…

26 May 2020 - NAIROBI, Kenya, May 26- Taxi-hailing firm Bolt has secured an Sh11 billion loan that will be used to boost its growth and development strategy. Bolt, formerly Taxify, will also use the debt facility from United Kingdom based investment firm Naya Capital Management to upgrade product segments to…

26 May 2020 - NAIROBI, Kenya, May 26 – The price of houses continued to decline in the first quarter of 2020 in a trend compounded by constrained ability of potential buyers to afford homescurrently on offer in the market, according to the Kenya Bankers Association House Price Index (KBA-HPI).According to the…

26 May 2020 - NAIROBI, Kenya, May 26 – The Board of Directors of Equity Group Holdings Plc, the largest bank on the Nairobi Securities Exchange by market capitalization, has withdrawn its recommendation of a Ksh. 9.5 billion dividend payout to its shareholders. The withdrawal of the dividend payout speaks to the…

25 May 2020 - NAIROBI, Kenya, May 25 – Yusuf Mbuno has been appointed to take up the position of National Government- Constituency Development Fund Board Chief Executive after serving in an acting capacity for the last 11 years. This is after National Treasury Cabinet Secretary Ukur Yattani gazetted the…

25 May 2020 - SUVA, Fiji, May 25 – Pandemic-hit Fiji Airways fired more than half its workforce Monday, as travel restrictions put the islands’ vital tourism sector in deep freeze and reduced the national carrier’s revenue to “virtually zero”. Chief executive Andre Viljoen said that after “exhausting all other…

25 May 2020 - WELLINGTON, New Zealand, May 25 – Struggling New Zealand media giant Stuff Limited was sold in a management buy-out deal for the symbolic fee of NZ$1.00 (US$0.61), the group’s Australian owners Nine Entertainment announced Monday. Nine said that Stuff chief executive Sinead Boucher would take over…

25 May 2020 - NYERI, Kenya, May 25 – Kenya tea development agency has dismissed the new regulations proposed by the government saying that they are begging to an end of the tea sector.  At the same time the agency has predicted low bonuses for Farmers this year following low prices at Mombasa tea auction…

24 May 2020 - NAIROBI, Kenya, May 24 – Kenyans living abroad sent home Sh22.3 billion during the month of April, a 9.0 percent decline compared to Sh24.5 billion that was dispatched in March. However, the cumulative inflows in the 12 months to April were higher Sh299 billion compared to Sh294 billion over a…

23 May 2020 - NAIROBI, Kenya, May 23 – National Treasury Cabinet Secretary Ukur Yatani will read this year’s budget statement on the 11th of next month at the National Assembly Chambers. Yatani will read a statement that covers the 2020/2021` financial estimates is set to be announced at 3.00 pm on that day. It…

23 May 2020 - NAIROBI, Kenya, May 23 – Kenya will receive a €188 million – Sh21.9 billion – loan from African Development Bank to support its efforts to respond to the COVID-19 pandemic and mitigate the related economic, health and social impacts. In a statement, the financial institution says the loan follows a…

23 May 2020 - NAIROBI, Kenya, May 23 – President Uhuru Kenyatta has rolled out an 8-point stimulus program valued at Sh53.7 billion to jumpstart the economy amid the coronavirus pandemic that has ravaged sectors across the country. The program focuses on key sectors among them infrastructure, education, health,…

23 May 2020 - NAIROBI, Kenya May 23 – Health Ministry’s Director of Health Dr. Patrick Amoth has been elected to serve as the Vice President of the Executive Board of the World Health Organization (WHO). Amoth who was elected alongside four other Vice Presidents during a virtual meeting on Friday will be…

22 May 2020 - NAIROBI, Kenya, May 22 – Sanda Ojiambo, Safaricom’s Head of Sustainable Business and Social Impact, has been appointed as the Executive Director of the United Nations Global Compact (UNGC), the world’s largest corporate sustainability initiative. The announcement was made by United Nations…