- The Kenyan shilling has continued to be clobbered by the US Dollar and it seems there is no hope as the year melts away. The shilling kicked off this week losing to the lowest in history against the US Dollar. Exchange Rate Performance The Kenyan shilling weakened by 0.05 percent against the US…
- Five more critically endangered Mountain Bongos have been successfully released into the Mawingu Mountain Bongo Sanctuary. In March 2022, the first 5 mountain bongos to have ever been rewilded were successfully released into the sanctuary. The new release brings the total number of rewilded Bongos…
- The recently concluded 2022 general elections resulted in 11 governors being reelected and 8 governors who served in the first term coming back while 28 new Governors are coming into the office for the first time. The latter represents approximately 60% of all counties. Governors being the Chief…
- Health experts have warned that multiple challenges among them the high cost of cancer diagnosis and treatment are delaying progress in cancer prevention and control in Kenya. Speaking during a media roundtable organized by Pfizer, the experts say limited-service availability and poorly coordinated…
- Old Mutual Life Assurance Kenya (OMLAKL) in collaboration with the Kenya Urban People Association (KUPA) has rolled out a new partnership aimed at empowering members of the clergy with key financial skills to help them during unforeseen eventualities. The partnership seeks to address specific gaps…
- During the month of November, the equities market was on a downward trajectory, with NASI, NSE 20, and NSE 25 declining by 1.8%, 2.4%, and 1.1%, respectively. The equities market performance was driven by losses recorded by large-cap stocks such as Bamburi, Safaricom, and Equity Group of 6.0%, 3.0…
- Centum Investment Company PLC issued a share buyback notice to shareholders, proposing to buy back up to 10.0% (66.5 mn shares) of its issued and paid-up share capital in accordance with Part XVI, Section 447 of the Companies Act, 2015 of the Laws of Kenya. The buyback, an on-market transaction, is…
- During the month, the Kenya Shilling depreciated by 0.9% against the US Dollar, to close the month at Kshs 122.4, from Kshs 121.3 recorded at the end of October 2022. The continuous depreciation was partly attributable to the increased dollar demand from importers, especially oil and energy sectors…
- During the month of November, T-bills were oversubscribed, with the overall rate increasing to 167.7 percent from 91.9 percent recorded in the month of October 2022. The oversubscription of the T-Bills was partly attributable to eased liquidity during the period with the average interbank rate…
- Kenya Wine Agencies Limited (KWAL) Kibao Vodka Tru Watu Tru Campaign has been recognized as the best marketing campaign this year after receiving the Judges Choice Award at the MSK Gala and Awards 2022. The Society, which is also celebrating its 60-year anniversary, hosts the annual award ceremony…
- Absa Bank Kenya PLC has launched an Offshore Proposition expanding its suite of private wealth management solutions. The Bank is targeting individual clients in need of capabilities to manage their financial commitments across multiple countries and regions. The proposition is in response to the…
- U.S. Secretary of State Antony Blinken strongly condemned the targeting of Ukrainian civilians by Russian President Vladimir Putin, calling it “barbaric,” and pledged that the United States and NATO allies would continue to support Kyiv in the face of a continuing Russian onslaught. “What we’ve…
- The excitement continues to build further at the World Cup Qatar 2022 as final group games begin for the extravaganza that kicked off a week ago bringing expectations to the commencement of the long-awaited tournament. Football in Kenya is unequivocally the number one sport, and the corporate world…
- Exchange Rate Performance The Kenyan shilling kicked off the month of December with its usual losing spree. The local currency has been losing ground against the US Dollar since the year began, falling to the lowest in history. On December 1st, the shilling weakened by 0.04 percent to close at 122.…
- Individual Kenyans will now be able to borrow between 500 shillings and 50,000 shillings from the newly-launched Hustler Fund through their mobile phones. Speaking at the launch of the Fund at Green Park in Nairobi on Wednesday, leading network telcos said borrowers will be required to dial USSD…
- What is a stablecoin and how does it work? Gambling can be a very enjoyable and lucrative hobby if you’re lucky enough. It will be even more efficient if you take advantage of a promotion using sites like Bonuses Finder. But casino games or betting aren’t your only options for trying your luck:…
- Binance Charity, the philanthropic arm of Binance, the world’s leading cryptocurrency and blockchain infrastructure provider has announced its first Giving Tuesday campaign for the Horn of Africa, in support of UNICEF, the world’s leading organization for children. Giving Tuesday is a growing…
- Agriculture PS Harry Kimutai said the government is working hard to roll out various programs that will ensure farmers have access to fertilizer and tame the ever-escalating cost of the farm input. Speaking on Tuesday during the launch of the new Africa Fertilizer website, the PS said the…
- Earlier this month Base Resources released its inaugural Sustainability Report 2022 highlighting the company’s social, economic, and environmental impact in Kenya and Madagascar. The report gives a candid account of the successes and challenges at Base Titanium – the Kwale Operations in Kenya, and…
- The Bank of Kigali (BK) Group has announced an 18.4 percent increase in net profit to KES5 billion for the period ending September 30, 2022. The strong profit growth for the Nairobi Securities Exchange and Rwanda Stock Exchange listed lender was driven by an increase in interest earnings,…
- By Simon Thomas, Megapipes Solutions Country Director The ongoing short rains have given us a reprieve from months of drought, one of the worst in over 40 years, but freedom is not yet here. The time is ripe for putting words into action on mitigating the adverse effects of climate change. One way…
- The government through the ministry of agriculture will start importing duty-free maize from February next year. Agriculture Cabinet Secretary Mithika Linturi told the parliament that the import window will be opened on February 1, 2023, and will run for three months until April 31, 2023. The CS…
- A Law firm led by Apollo Mboya has sent a demand letter to president Willliam Ruto asking him to provide clear answers regarding his tweet over the plot to kick out four IEBC commissioners. Ruto tweeted at 8:50 am on November 25, saying: “The lords of impunity, who destroyed oversight institutions…
- Chumz, a mobile app that allows Kenyans to invest as little as KES 5, has launched an in-app feature that will enable football fans to save money while cheering on their favorite teams. Dubbed #SuperFansChallenge, football fans can decide what amount of money they want to save should the team they…
- ABSA Group released its 3Q22 results recording a 30.1 percent y-o-y increase in profit after tax (PAT) to 10.7 billion shillings. Performance was supported by a 22.5 percent y-o-y increase in total operating income to 33.4 billion shillings but trimmed by a 47.9 percent y-o-y increase in the loan…
- Africa Fertilizer.org (AFO), an initiative under the International Fertilizer Development Center (IFDC), has today rebranded to Africa Fertilizer (AF) in a move aimed at advancing food security throughout Africa by providing in-depth data on fertilizer supply chains and availability in 18 sub-…
- Stakeholders have been urged to build from the basic primary healthcare level in the journey to achieve Universal Health Coverage (“UHC”). Speaking during a stakeholder’s breakfast meeting to chart the way forward on Kenya’s road to UHC, Samantha Weya, the Healthcare Consulting Lead at Zamara…
- Family Bank has been awarded and recognized as Bank of the year for high-impact agricultural lending to Small, Medium Enterprises (SMEs) by Aceli Africa. The Bank was awarded during the Aceli Africa Convention which sought to discuss the implementation of financial incentives and technical…
- Kenyans can save up to KES 231,000 across select LG electronics appliances and electronics from today until the end of 2022. This follows an announcement by LG Electronics on product discounts ranging from 10 percent to 25 percent across select products aimed at giving consumers the best customer…
- LG Electronics has awarded more than 320 young technology leaders with disabilities from 16 countries for their effective participation and skills exhibition in executing computer-based activities. Drawn from across the globe, the leaders were hosted and awarded at the 11th Global IT Challenge for…
- Bans are an overly simplistic solution to a complex issue and will not work. The dangers associated with smoking are well known. It is the leading cause of preventable death worldwide, causing more than 8 million deaths per year. However, progress in tobacco control has been limited. Smoking…
- Absa Bank Kenya PLC has reported a Profit after Tax of 10.7 billion shillings for the period ended September 30, 2022, a 30 percent growth compared to a similar period last year. The impressive results have been realized on the back of double-digit revenue growth, powered by accelerated lending,…
- Kenya’s leading stout beer, Guinness, this weekend hosted an ultimate football viewing experience, the Guinness Brighthouse at Jamii Executive Garden in Mwea to celebrate the start of the biggest football event of the year and to mark the launch of the new Guinness advert. The Guinness Brighthouse…
- Stock Market Weekly equity turnover shrank by 26.6 percent w-o-w to USD 11.77 MN (KES 1.44 BN). NSE 20 and NASI fell by 0.8 percent and 1.3 percent w-o-w to close at 1,652.06 and 127.28, respectively. Foreign investors assumed a net selling position by accounting for 74.9 percent of foreign sales…
- Employers can breathe a sigh of relief after the Court blocked the enforcement of a law demanding them to match contributions estimated at 31 billion shillings for their workers to the National Health Insurance Fund (NHIF). This comes as a reprieve to employers who would have been burdened with…
- The Standard Gauge Railway (SGR) from Nairobi to Mombasa is fully-booked for the 22nd to 24th of December, 2022. At the same time, Jambojet, a common airline that flies to the Kenyan coast is also fully booked with the price of a one-way ticket doubling. Kenyans are always serious about the…
- Kenya will resume international football activities after FIFA lifted the global suspension. The decision to lift the ban was reached on November 25. FIFA imposed a ban in February this year after Kenya’s sports ministry disbanded the Football Kenya Federation (FKF) over alleged misappropriation of…
- Kenya risks rolling back the gains made in HIV/AIDS response in the country if the issue of condom shortage in the country is not addressed, the Civil Society Organisations (CSOs) in the health sector have cautioned. Over the years, HIV and AIDS prevalence has decreased from a peak of 10.5 percent…
- World Cup continues in Qatar with Africans still having hopes in the five teams representing the continent. The five teams from Africa are Senegal, Tunisia, Morocco, Cameron, and Ghana. With no shortage of talent in Africa – Sadio Mane, Mo Salah, and Michael Olunga to name but a few. Let us see how…
- Maize flour prices have hit a record high despite harvesting signaling hard times for households that are already grappling with the high cost of other goods. A 2-kilogram packet of the commodity is retailing at a high of 213 shillings for some brands, an 18.3 percent jump from 180 shillings at…
- Uber Eats has today unveiled the winners of the first-ever Uber Eats Restaurant Awards to celebrate restaurants selected by consumers as well as those selected for operational excellence on the platform. At an event in Nairobi, Uber Eats announced a new set of awards celebrating all things…
- On Monday, November 28th, over 2.5 candidates in primary schools across Kenya have begun their grade six and class eight national examinations The Kenya Certificate of Primary Education (KCPE) and Kenya Primary School Education Assessment (KPSEA) tests will Of the 2, 531, 785 candidates 1,244, 188…
- Tea prices at the Weekly Mombasa auction have declined for the fourth time in a row on the back of low demand. Data from the East African Tea Trade Association (EATTA)shows a kilo of the beverage fetched $2.32 (283 shillings) on average, down from the $2.34 (286 shillings) fetched in the previous…
- The Kenya Certificate of Primary Education (KCPE) has kicked off across the country. The three-day exam will come to an end on Wednesday. For the first time, Grade 6 kids are also sitting for their national examination under the Competency-based Curriculum (CBC). During exams such as KCPE, much is…
- “We are projecting the y/y inflation rate for November 2022 to fall within the range of 9.7-10.1 percent,” said Cytonn Investments in their latest report. The inflation will be pegged on the: High fuel prices: The fuel prices for the period between 14th November 2022 to 15th December 2022 declined…
- The Kenyan shilling depreciated by 0.2 percent against the US dollar to close the week at 122.3 shillings, from 122.0 shillings recorded the previous week. The Kenyan shilling has now fallen to the lowest in history against the US Dollar. The depreciation of the shilling was partly attributable to…
- During the week, T-bills remained oversubscribed, albeit at a lower rate, with the overall subscription rate declining to 113.4 percent, from the 170.8 percent recorded the previous week. The lower subscription is partly attributable to tightened liquidity in the money market with the average…
- Safaricom (NSE: SCOM) has launched M-PESA Go, a new financial product for teens and preteens aged 10 to 17 years. The service seeks to empower parents and guardians to raise a financially healthy generation prepared for a cashless world. M-PESA Go aims to improve digital money management and…
- Moses Okundi is the CIO of the Year 2022. Crowning the top tech guru from a selection of over 400 applications across Africa, Okundi has been awarded for his excellence in digital transformation. Expressing excitement after bagging the award, the thrilled Chief Technology Officer, of Absa Bank,…
- As the World Cup enters its 5th day, surprises continue to emerge. Giants are being clobbered like never before. African teams are also trying but none has won so far. Perhaps Senegal will kick off the winning as it faces Qatar this afternoon. On Thursday, Switzerland clobbered Cameroon 1:0 while…
