- Transport and logistics firm Siginon Group has achieved five-star transporter status following this year’s Bamburi Cement Plc transporters safety award. The annual awards audit 5-pillars to gauge transporters’ performance while in operation. The awards are part of an ongoing audit of 22…
- A recent report by the GSMA dubbed State of the Industry Report on Mobile Money 2023 underscores how mobile money has become a mainstream financial service. The report also highlights the remarkable growth and leadership of mobile money services in Kenya, particularly through the M-PESA platform,…
- Bears drove market activity in the day as reflected by the indices’ performance. The NASI, NSE 10, NSE 20, and NSE 25 closed in the red shedding 1.1%, 0.8%, 0.1%, and 0.5% respectively. Market activity rose by 48.2% to USD 1.8m on the back of increased trading on the banking stocks. Equity Group…
- Equities Turnover rose by 48.2% to KES 270.5Mn up from KES 182.5Mn the previous trading day. Foreign investors were the dominant players on the day. They accounted for c. 72.9% of the total market turnover. Foreign investors remained bearish on key blue chips to print net outflows of KES 38.2Mn in…
- Flutterwave, Africa’s largest payment service provider, has revealed that it is planning to pump at least 7.3 billion shillings into the Kenyan market as soon as its license to operate in the country clears. The license acquisition is in its final stages. Flutterwave, which operates in more than 30…
- Exchange Rate Performance USD|KES: KES weakened by 0.10% to close at 146.36 (-18.63% year-to-date). GBP|KES: KES weakened by 0.43% to close at 183.39 (-23.52% year-to-date). EUR|KES: KES weakened by 0.25% to close at 157.03 (-19.63% year-to-date). Kenyan Stock Market Read Also: Dear Entrepreneur,…
- Kenya Universities and Colleges Central Placement Service (KUCCPS) has extended the deadline for the application of Students who are seeking to join the Kenya Medical Training College (KMTC) and missed out on the first application placements. KUCCPS has explained in a statement that the new…
- Kingdom Bank through the KB Growth Hub hosted at least 40 local entrepreneurs for a training and business consulting clinic in partnership with Sinapis. A social enterprise that empowers MSMEs through coaching and training. The full-day consulting services session saw MSME owners and directors…
- Safaricom Ethiopia has officially welcomed their new CEO Wim Vanhelleputte who took over the helm of the company effective September 1, 2023. Wim replaced Anwar Soussa who resigned after less than two years at the East Africa leading telecommunications company. He joined Safaricom Ethiopia from MTN…
- The pursuit of financial independence is a goal shared by many, a journey towards the freedom to pursue our desires without financial constraints. Yet, achieving this can be challenging. Building a foundation for financial independence begins with a pivotal practice: saving money. Consistent saving…
- Yields: Treasury Yields closed the week higher as recent comments from Fed officials have indicated that the central bank is content to keep rates steady at their next policy meeting on Sept. 19 to 20, though remain steadfast on the fight against inflation. The closely watched spread between yields…
- The market opened the week on bullish sentiments with all indices closing the day in the green. The NASI, NSE 10, NSE 20, and NSE 25 closed up 0.7%, 0.6%, 0.2%, and 0.5% respectively. Turnover receded 21.0% to USD 1.2m on the back of reduced activity on the banking stocks. Safaricom was the most…
- Exchange Rate Performance USD|KES: KES weakened by 0.06% to close at 146.22 (-18.52% year-to-date). GBP|KES: KES weakened by 0.24% to close at 182.60 (-22.99% year-to-date). EUR|KES: KES weakened by 0.16% to close at 156.64 (-19.33% year-to-date). Read Also: Weekly Equity Turnover Drops 35.1% To…
- Safaricom Foundation, in partnership with AMREF and the Narok County Government, launched a maternal health program known as “Afya Uzazi Salama.” The program seeks to strengthen Reproductive, Maternal, neonatal, Child, and Adolescent health outcomes (RMNCAH) in line with its 2023-2026 health…
- The National Authority for the Campaign Against Alcohol and Drug Abuse (NACADA) released a new survey on “Status of Drugs and Substance Use (DSU) in Kenya, 2022.” According to NACADA), The number of people consuming cannabis otherwise known as bhang has increased by 90 percent in the past five…
- Liquidity conditions deteriorated in the week as government receipts outweighed settlements. Consequently, the cost of funds in the interbank market slightly rose to an average of 12.4%, an increase of 9.2bp for the week. Even then, the average traded volumes climbed 25.4% to KES 35.5 bn from KES…
- The Teachers Service Commission (TSC) has extended the deadline for the plication of 36,000 promotional vacancies to 15 September 2023. Teachers have been facing a frustrating experience as they attempted to utilize the online application system provided by TSC. Initially, the application deadline…
- Weekly equity turnover dropped by 35.1% w-o-w to close at USD 7.88 MN (KES 1.15 BN). NSE 20 and NASI indices gained 0.2% and 0.6% w-o-w to close at 1,541.67 and 98.70 respectively. Foreign investors assumed a net selling position by accounting for 34.4% of total market purchases and 69.6% of total…
- Nairobi motorists should brace for tough times ahead following the Nairobi county government’s proposal to raise parking fees after Nairobi Governor Johnson Sakaja gazetted the new date for their implementation. According to a Gazette Notice dated Friday, September 8, all motorists have been given…
- During the week, T-bills were oversubscribed for the first time in three weeks, with the overall subscription rate coming in at 161.8 percent, compared to the 96.6 percent recorded the previous week. Investors’ preference for the shorter 91-day paper persisted, with the paper receiving bids worth…
- Absa Bank Kenya has expanded its financial services to Kenyans in the Diaspora through its existing digital platform, making it easier for customers and non-customers living and working abroad to meet their banking, savings, and payment needs. The enhancement simplifies sending money and managing…
- More than 200 policymakers, tourism experts, innovators, and changemakers from across the continent are set to gather at the Airbnb Africa Travel Summit in Johannesburg on 24 October to explore, innovate, and collaborate on building an inclusive and sustainable tourism industry across Africa. The…
- During the week, the Kenya Shilling depreciated by 0.4 percent against the US dollar to close the week at 146.1 shillings, from 145.5 shillings recorded the previous week. On a year-to-date basis, the shilling has depreciated by 18.4 percent against the dollar, adding to the 9.0 percent…
- The government recently rolled out the second mass registration for the Inua Jamii program with a target of bringing on board at least 500,000 senior citizens as well as persons living with disabilities. The registration has been taking place across the country. Inua Jamii is a government program…
- The decision by the Senate to open an inquiry into the affairs of a private company has raised concerns about Parliament’s capacity to do its job and the potential to scare away investors. This follows the highly publicized meeting on Thursday by the Senate’s Committee on Trade, Industrialisation,…
- CBK has approved the increase of limits of mobile money transactions and the size of the mobile money wallet for relevant Payment Service Providers to support customers, businesses, and institutions including Government agencies to make and receive digital payments in larger amounts, thereby…
- The Kenyan shilling has fallen again. The local currency hit the lowest in history against the US Dollar on Friday. Exchange Rate Performance USD|KES: KES weakened by 0.06% to close at 146.14 (-18.45% year-to-date). GBP|KES: KES strengthened by 0.64% to close at 182.17 (-22.70% year-to-date). EUR|…
- Cleanshelf Supermarkets Limited, a leading Customer Service oriented retail chain is excited to announce the opening of its 15th branch in Nairobi South B. This new addition to the Cleanshelf family is a testament to the company’s commitment to serving local communities and providing top-notch…
- Standard Chartered Kenya has announced the closure of a key sustainable finance deal in Kenya as it progresses its global commitment to the provision of green financing to aid the transition to net zero. The closure of the KES 15 billion Sustainable Linked Loan (SLL) with Safaricom PLC is one of…
- Hundreds of youth drawn from under-served communities in Kenya are set to benefit from the LIFE Legacy Program, an initiative spearheaded by Paradigm Initiative, a pan-African non-governmental organization. This follows the launch of the program in Tana River and Nairobi counties. In Tana River,…
- Emirates SkyCargo is now live on CargoAi’s marketplace solution, CargoMART, further advancing its digital customer experience and optimizing the booking process with real-time information. The partnership launched in the Netherlands, Spain, and France, and will open up to customers in select…
- Mobile money and remittances will continue to dominate Africa’s economic development if they are supported with tools to boost data-driven transparency and compliance, according to a new whitepaper, released today, by Global Voice Group (GVG), a global provider of ICT and RegTech solutions for…
- The Safaricom Chapa Dimba tournament continues its thrilling journey as it heads to Siaya and Kisii counties for the Nyanza County finals, this weekend. On Saturday, Siaya County will set the stage for an electrifying opening match between Jera Girls from Ugenya and VSA Girls from Gem that will…
- If you are an entrepreneur who has set up a new business, you will know how challenging this process can be. The first few years of trading for any new company can be difficult as a customer base needs to be secured, and sales streams need to increase. In 2023, it can be extremely difficult […]
The…
- OLA Energy Kenya has today officially opened the expanded OLA Energy Buruburu service station which now includes a service center, diverse eateries, a pharmacy, and a convenience store making it a one-stop shop for customers. Other than fuelling their cars, OLA Energy customers in Buruburu will now…
- BitLipa, the leading mobile money to crypto on-ramp solution that recently pivoted from b2c to b2b, is thrilled to announce an exciting partnership with Sportsbet.io, a pioneering crypto betting platform. This strategic collaboration will empower Sportsbet.io users to seamlessly deposit funds from…
- On Friday 8th, at least nine people were killed in a road accident after a 14-seater matatu collided with a truck along the Nairobi-Mombasa highway in Salama, Makueni County. The Matatu was traveling from Loitoktok to Nairobi and collided with a truck heading to Mombasa at the Mlima Kiu area in…
- On 7th September, the Kenya Medical Practitioners, Pharmacists and Dentists Union (KMPDU) announced that its members will embark on a strike from Tuesday, September 12th,2023 According to the letter sent to Kilimani OCPD, the union’s secretary general, Davji Bhimji, noted that the demonstration…
- In the digital age, our lives are intertwined with electronic gadgets. It’s essential to ensure that your treasured devices are insured, from smartphones to laptops to entertainment systems and all the gadgets in between. The Digital Revolution: It’s no secret that electronic equipment plays a…
- To foster dialogue and raise awareness about critical healthcare issues in East Africa, the Informa Markets team – organizers of the Medic East Africa exhibition and conference hosted a Twitter Spaces conversation on the topic ‘Redefining healthcare across East Africa’. The dynamic and engaging…
- Kenya Power and Lighting Company (KPLC) is pushing for Kenyans to start using electricity for cooking and heating as soon as possible for it is “cheaper compared to using LPG and charcoal.” The company has already started pushing for this adoption. With 9.2 million customers across the country,…
- Teachers who retire after working with the Teachers Service Commission, TSC, have a reason to smile. This is after the Commission moved to have their pension payments processed quickly. The mandatory retirement age is sixty (60) years. A notice will be issued two years before the date of retirement…
- Konza Technopolis Development Authority (KoTDA), the agency mandated to implement the Konza Technopolis project, has today announced the appointment of its CEO, Mr. John Paul Okwiri. John Paul Okwiri is a dynamic and visionary executive passionate about driving transformative change. With a proven…
- In our daily lives, we often take for granted the simple tasks of reading a restaurant menu or jotting down our thoughts when frustration strikes. For most of us, the ability to read and write is second nature. But imagine a scenario where an individual, perhaps with a recent run-in with the law,…
- Britam General Insurance has launched an Aviation insurance solution that will provide cover for individuals and businesses engaged in the aviation Industry. The solutions include Crew Personal Accident Cover, Airport Owners & Operators Liability, Hull All Risks Cover, Hull War and Legal…
- The Kenyan shilling has continued to fall against the world’s top three currencies; the US Dollar, the British Pound, and the Euro. Against the US Dollar, the shilling has dropped to the lowest in history with no hope in the near future. Exchange Rate Performance USD|KES: KES weakened by 0.09…
- Stories and storytelling have long captivated the minds and hearts of children everywhere – the most famed among being bedtime stories. One of the earliest forms of storytelling known to man is what today is known as oral literature. Passed on from generation to generation, these ‘words’ woven in…
- In the heart of Kenya’s vibrant youth population lies a golden opportunity that promises to revolutionize the way we perceive waste management, even as the country joins the rest of the world in pushing and articulating green businesses and operations. The Tony Elumelu Foundation’s (TEF) Green…
- The Africa Climate Summit just came to an end in Nairobi. It has been hailed as one of the most successful summits ever held on African soil but beneath this picturesque surface and success, Kenya still faces the relentless challenge of climate change. Erratic weather patterns, prolonged droughts,…
- The Education Cabinet Secretary Ezekiel Machogu has extended the deadline for application for Higher Education Funding loans and scholarships by one month. The initial deadline of September 7 has now been pushed to October 7. “The period for applying for loans and scholarships, which was initially…
