- Have you ever come across human beings who become temporarily mad when they get money and normal when the money is finished within a short time? Like they are always reasonable and sweet human beings until they receive money? They will have some great plans when they don’t have money. They will…
- Kenya’s largest automotive distributor and service provider CFAO Motors has today launched the first locally assembled passenger sports utility vehicle (SUV), the Toyota Fortuner, and investing an additional Ksh120 million towards the Fortuner assembly line at the Associated Vehicle Assemblers (AVA…
- The Kenya Shilling remained relatively stable against major international and regional currencies during the week ending July 27 but continued to fall against the US Dollar. It exchanged at KSh 142.20 per US dollar on July 27, compared to KSh 141.70 per US dollar on July 20. As of Friday, the…
- Kenyans will have to pay slightly more for M-Pesa transactions starting today, July 29, 2023, in line with the controversial Finance Act 2023 that has been given a go-ahead by the Court of Appeal. On Friday, the Court of Appeal lifted the orders that had barred the implementation of the Finance Act…
- Equities turnover skyrocketed by 21x to KES 3,508Mn up from KES 156.1Mn the previous trading day. Foreign investors were the dominant players on the day. They accounted for c. 52.2% of the total market turnover. Foreign investors turned largely bearish on key blue chips to print net outflows of KES…
- EABL announced FY23 earnings, posting a 16.9%y/y drop in EPS to KES 12.47. The dull performance is attributable to a 4% y/y slowdown in Kenya sales. However, Uganda’s growth was robust, growing by 17% while Tanzania edged up 1% higher respectively. Net revenue rose slightly by a marginal 0.2%y/y to…
- Safaricom reversed the prior session’s gains, dropping 3.8% to KES 16.60 on bulk foreign supply. This was the highest traded volume on the counter in recent memory, with the telco accounting for 98.7% of trading activity. Local investors accounted for 94.8% of buys on the counter on the day of its…
- Tatu City, the 5,000-acre mixed-use Special Economic Zone (SEZ) on Nairobi’s doorstep, has announced the appointment of AAR Healthcare as its exclusive provider of emergency healthcare. Effective immediately, AAR Healthcare will offer on-site ambulance services, available 24/7, to ensure the safety…
- In a remarkable collaboration, paint manufacturer Crown Paints and low-cost airline Jambojet have successfully renovated Kibos School for the Visually Blind, culminating in a vibrant transformation of the school’s facilities. The strategic partnership aimed to foster sustainable environmental and…
- Safaricom shareholders have approved two new subsidiaries, one dedicated to investing in seed-stage and another in growth-stage start-ups. These significant developments, approved at Safaricom’s 15th Annual General Meeting (AGM), represent a momentous step towards supporting tech entrepreneurs,…
- Exchange Rate Performance USD|KES: KES weakened by 0.07% to close at 142.30 (-15.34% year-to-date). GBP|KES: KES strengthened by 0.42% to close at 182.87 (-23.17% year-to-date). EUR|KES: KES strengthened by 0.45% to close at 156.68 (-19.36% year-to-date). Kenyan Stock Market Total equity turnover…
- Kenya’s Court of Appeal has put aside orders suspending the implementation of the Finance Act 2023. This gives the Kenya Revenue Authority (KRA) the go-ahead to start implementing the taxes within the Act that were due for the month of July. KRA had indicated that it would backdate the taxes that…
- The Kenyan shilling is still being clobbered by the US Dollar. After the Central Bank of Kenya (CBK) announced that it will no longer intervene to stabilize the shilling, the local currency seems to have embarked on a free-fall, hitting its lowest on Thursday. Exchange Rate Performance USD|KES: KES…
- In a move that is likely to change how customers bank, Absa Bank Kenya has announced its bold decision to abolish all transactional notification charges and fees for e-statements and SMSs. Picture this: You make a transaction, and just as you’re about to feel the rush of financial wizardry, you…
- To function properly, the human body requires several minerals in addition to the proteins, carbohydrates, and fats that are frequently discussed. The list of minerals helps the body perform essential functions such as influencing nerve function, assisting muscles in working, and determining the…
- The Kenya National Union of Teachers, KNUT, Secretary-General Collins Oyuu is seeking clarification from the Salaries and Remuneration Commission (SRC) regarding the unexpected reduction of teachers’ salaries in July 2023, rather than the anticipated pay raise promised by the government. According…
- Medic East Africa in partnership with The Kenya Healthcare Federation, held an interactive engagement event with professionals and stakeholders in the healthcare industry on Tuesday 25th July. The event had representation from the Government, private, and NGO sectors offering an opportunity for…
- There is no perfect marriage. That is a fact. And there is no one who has a monopoly on defining what a perfect marriage is. Even those powerful marriage advisors, in suits, great clothes, and talking like Martin Luther King have their great share of marital problems. Maybe initially people used to…
- The government’s new plans to raise taxes to fund its operations are in disarray after a court suspended the implementation of the new Finance Act 2023. Even as the three-judge bench looks into the civil suit, businesses must familiarise themselves with various existing regimes and plan accordingly…
- dnata, a leading global air, and travel services provider handled 135,000 tonnes of perishable goods through its advanced cool chain facilities in Dubai in the 12 months up to 31 March 2023. The most popular imported products handled into Dubai included fruit and vegetables such as mangoes,…
- HMD Global is known as the home of Nokia phones and since its establishment, the company has ensured delivery of enterprise-ready solutions in its devices. It has maintained a key focus on security and reliability incorporating a range of features that address and caters to the needs of the…
- Uber has announced the launch of Audio Recording, a new feature that allows riders and drivers to record audio of their trip in the next few weeks. The audio recordings can then be submitted as evidence in the case of a safety incident – something that drivers have been asking for based on their…
- Four of Aga Khan University’s residency programs in East Africa have been accredited by the Accreditation Council for Graduate Medical Education International, (ACGME-I). Three of the programs – Paediatrics & Child Health, Radiology & Diagnostic Imaging, and Obstetrics & Gynaecology…
- The Aga Khan University Graduate School of Media and Communications (GSMC) has graduated the second cohort of mid-career media managers and media entrepreneurs for the Media Managers Boot Camp, a program aimed at supporting media innovation. The seven-month training program that is supported by the…
- 205 students are assured of reporting to their first year of tertiary education supported by a Kshs. 12 million donation from Prudential through its community investment arm, Prudence Foundation. The donation, which was presented to the Kenya Education Fund today at the Oloolaiser National School,…
- Many years ago, teaching kids coding was as elusive as trying to catch a unicorn on roller skates. But today, we’ve come to realize that there are more reasons to teach kids to code than to justify a sneaky extra scoop of ice cream. In this age of ever-evolving technology, it’s not enough to…
- The World Remit has released a report and it has revealed that school uniforms in Kenya are the most expensive compared to the costs in 21 other countries surveyed. According to the report, Kenya school supplies including uniforms and books are among the most expensive in the world ahead of some…
- Smile ID (formerly Smile Identity), the leading identity verification and digital Know Your Customer (KYC) provider in Africa, has unveiled its highly anticipated half-year 2023 KYC Report. Drawing on data from over 75 million KYC checks across diverse industries, the comprehensive report offers…
- The 5th annual Zetech University Research and Innovation Fair witnessed the highest number of exhibitors ever, with more than 20 corporates and individuals showcasing their brilliant innovations. Speaking during the event, Dr. Wahome Rureri who represented the Principal Secretary of State…
- The world of illicit alcohol is not new in Kenya. It has been around for decades. It is a world of boozy bonanza where our health and economy are dancing the dangerous tango, and the stakes have never been higher. The Kenyan is losing an average of 71 billion shillings in taxes annually due to […]…
- Sophos has released a new sectoral survey report, “The State of Ransomware in Education 2023,” which found that education reported the highest rate of ransomware attacks in 2022. Over the past year, 79% of higher educational organizations surveyed reported being hit by ransomware, while 80% of…
- In a world driven by innovation and opportunity, real wealth is no longer solely accumulated through traditional employment and hourly wages. Instead, the key to unlocking financial prosperity lies in seizing the potential of entrepreneurship and strategic investments. By starting their own…
- WorldRemit, a digital remittances brand within Zepz, releases its third year of global data and findings, to understand how the cost of school supplies impacts families around the world. As inflation persists and supply chain issues continue to arise across multiple sectors, it comes as no surprise…
- The Budget and Appropriations Committee, BAC, has approved the amendment bill sponsored by Kibwezi West MP Mwengi Mutuse that will see the village elders receive 7,000 Shillings monthly as an allowance. The MP is seeking to remunerate 45,000 elders who volunteered their services in Kenya’s 9045 sub…
- Electric bus pioneer, BasiGo, has made a second entry into the African market with the launch of BasiGo Rwanda Ltd., a new entity focused on electrifying the public transport system in Rwanda. BasiGo has partnered with AC Mobility, Rwanda’s leading provider of automated fare collection systems for…
- Kenyan Technology Company Boya has launched its virtual expense card in partnership with VISA and Diamond Trust Bank – Kenya, which will help businesses to manage payments and expenses with one virtual card solution. The Boya platform is designed to streamline and revolutionize expense tracking and…
- Old Mutual East Africa Group has rolled out a self-service mobile app to improve customer experience for their customers. The app is part of digital solutions that the Group will be rolling out to customers and partners this year, informed by the group’s transformation agenda. On the app, customers…
- When we think of high-paying jobs, professions like doctors, lawyers, engineers, and CEOs typically come to mind. However, beyond the well-known career paths, there are numerous lucrative opportunities for you These lesser-known professions offer generous salaries, intriguing challenges, and the…
- Equity Group has unveiled its annual Sustainability Report for the year 2022, themed “Growing Together in Trust.” This landmark report positions Equity as a key driver and leader in sustainability, demonstrating the Group’s commitment to socio-economic and environmental transformation across Africa…
- Teachers and civil servants will not receive a pay rise as promised by the government at the end of July as the Salaries and Remuneration Commission, SRC, has not completed the review process to factor in the increments. Currently, SRC is working on the salary review after concluding the public…
- You might wonder, what in the world is “assent finance”? Is it some mysterious monetary realm where accountants agree to everything without question? What entail for one’s assets to be financed? How does one go about it? What are the requirements? In the labyrinth of finance, amidst the…
- The Public Service Commission (PSC) has announced the recruitment of 8000 internship opportunities for Kenyans in Government Ministries, Departments, and Agencies for the financial year 2023/2024. The PSC made an announcement on Tuesday, July 25. They noted that those eligible for the internship…
- According to a recent report released by the Insurance Regulatory Authority (IRA) three insurance Companies were responsible for over a third of all consumer complaints lodged against the insurance sector in the first quarter of this year. Monarch Insurance, Trident Insurance, and Corporate…
- Overview of the National Social Security Fund (NSSF) The National Social Security Fund (NSSF) has considerably evolved from its inception in 1965 through an Act of Parliament Cap 258 of the Laws of Kenya. The Fund initially operated as a Ministry of Labor Department until 1987, when the NSSF Act…
- Safaricom dominated the counters at the Nairobi Securities Exchange (NSE) with a total turnover coming in at 61.8 percent, albeit sustaining its six-session bear run, slumping 5.9 percent to 16.80 shillings despite Friday’s dividend book closure. Likewise, KCB closed in the red for the sixth…
- Robert Louis Stevenson (born Robert Lewis Balfour Stevenson; 13 November 1850 – 3 December 1894) who was a Scottish novelist, essayist, poet, and travel writer, once said…’ Nothing can make injustice just but mercy.” “Keep your eyes open to your mercies. The man who forgets to be thankful has…
- Wandile Sihlobo, Chief Economist at the Agricultural Business Chamber of South Africa establishes the importance of the agritech sector and the continent’s role in it, “We have the potential. Now we need to get to the stage where to say, ‘Let’s realize the potential.’ And I mean, if you think about…
- Tatu City Limited, Chandaria Properties, M&T Construction, and Steel Structures have commenced the construction of The Link, Kenya’s first Small and Medium Enterprise (SME) warehousing and logistics park with Special Economic Zone (SEZ) benefits, located in Tatu City, the country’s first…
- Land prices for Nairobi’s 18 suburbs stagnated as general demand slowed down in these areas, declining by 0.1 percent in the quarter but growing 1.2 percent in the year. The areas of Spring Valley, Donholm, Loresho, and Langata sustained the market through increases of 2.1 percent, 2.2 percent, 2.5…
- HassConsult has unveiled the Hass Property price indices for the second quarter of 2023, with property prices stagnating at a 0.5 percent drop in the quarter resulting in a 1.8 percent drop in the year. Economic uncertainty pegged to rising costs, prospects of higher taxation, and a higher cost of…
