Author: Jack Oduor

Only 8 per cent increased awareness, consumer concern regarding sharing personal information remained significant at 91 per cent in Q2 2023, albeit down from 94 per cent last year. The study shows that there has been an accelerating rate of digital fraud in other sectors of the country, such as retail, financial services, telecommunications, travel & leisure, and communities Digital fraud attempts are on the rise in the country with 80 per cent of Kenyan having been targeted in the first three months of year, a new TransUnion’s Consumer Pulse Survey has shown. From the findings a notable 72 per cent…

NALA raises 40 million dollars to fuel international expansion and launch its own payment rails for Africa and beyond. The US fintech building global payments for emerging markets.  $40million Series A for NALA, the fintech that took Africa’s payment problems personally.  NALA raises 40 million dollars to build cross-border payments for emerging markets. NALA, one of Africa’s largest fintech companies, has announced the Series funding to support its global expansion and enhance the reliability of payments to Africa by developing its own payment rails. The past 12 months have been transformative for NALA. The company achieved a 10x increase in…

Kenya’s second-hand clothes imports rose to Sh27.8 billion in the one year to March 2024.  The second-hand clothes trade has thrived over the years and has since attracted traders from China, Kenya’s top source market, to set base in Gikomba The Mitumba Consortium Association of Kenya recently noted that the number of people venturing into the sector is increasing at a fast pace The demand for second-hand clothes (mitumba) in the Kenya is on the rise, as more people, mostly from the informal sector, opt for the relatively low-cost commodity. Picturing this is the latest quarterly data by the Kenya…

Dr. Patil VijaySinh, an interventional cardiologist at The Nairobi West Hospital, led the team in performing the Renal Artery Denervation procedure. Hypertension, commonly known as high blood pressure, is a major global health concern, contributing to an estimated 8.5 million deaths in 2015 alone. Innovative healthcare techniques like Renal Artery Denervation offer new hope for patients with resistant hypertension. The Nairobi West Hospital has successfully conducted the first Renal Artery Denervation procedure for resistant hypertension in Kenya and East Africa. This pioneering procedure marks a significant step forward in the region’s battle against hypertension, a leading cause of cardiovascular morbidity…

The Japanese paint company will use Kenya as its gateway to the regional market NIPSEA Paint Kenya, the company will introduce products for automotive refinishing, car care, wood coating, and industrial coatings. The rise in infrastructure projects, including residential, commercial, and industrial developments, has fueled the demand for a wide range of paint products. Japanese paint company Nippon, the world’s fourth-largest paint company coatings group in Asia Pacific, has expanded into Kenya as it targets to grow market share. Through its Kenyan subsidiary, NIPSEA Paint Kenya, the company will introduce products for automotive refinishing, car care, wood coating, and industrial…

2024 Grantmakers Summit brought together 159 organisations from the East African region to explore innovative and strategic approaches in philanthropy. The summit, titled “Strategic Philanthropy in a Dynamic Era,” brought together grantmakers to discuss the future of philanthropy amid global changes. Kimani also emphasised the need for a holistic approach to philanthropy, integrating environmental, social, and economic dimensions to address root causes Organisations in the Philanthropy space will have to explore new funding models, such as impact investing, blended finance, and social enterprises to remain relevant, industry players have revealed. Experts at the 2024 Grantmakers Summit argued that these models…

Kenya’s parastatal set for privatisation, the National Oil Corporation of Kenya could face closure if the government does not inject new funding or get investors fast. The Corporation’s strategic plan expired in 2020, and Management has yet to develop another strategic plan to cover the current period. The corporation’s latest audited results for June 2023 show that it is running on a negative working capital position with its current liabilities outstripping current assets.  National Oil Corporation will need to seek financial support, restructure its operations, or face bankruptcy after its debts exceed its assets by Sh9.1 billion ($70.96 million). Kenya’s…

Treasury Bonds Auction for the month of July recorded only a 2 percent subscription rate  The domestic bond market has faced challenges, despite the lower yields on Eurobonds This high yield reflects investor concerns about Kenya’s economic stability and fiscal health​ Investors have shied away from government bonds as the treasury only managed to raise 2 per cent of the Sh20 billion it had targeted in its July tap sale. This saw the government only get Sh487.5million as the investors instead preferring to pump funds into short-term Treasury bills on expectations that interest rates will soon go up in the…

Kenya’s tea exports increase on the reopening of the Tanzanian market  Kenya had earlier in the month unveiled the China-Kenya Tea Trade Centre in Fujian province to distribute Kenyan tea in China. Kenya’s export value for the first time in history hit Sh1trillion in 2023, according to the 2024 economic survey by KNBS. The volume of Kenya’s tea exports increased by 19 per cent in the first quarter of 2024, boosted by increased shipment to key markets, according to a communication from the Tea Board of Kenya (TBK). The exports rose to 155.8 million kilograms, up from 131.1 million kgs…

Kenya’s trade deficit rises amidst government push to grow exports  The widening trade deficit indicates that the country’s capacity to create jobs locally and support its currency has dropped. Similarly, transportation and storage sectors slowed to 3.8 per cent in comparison to 6.6 per cent during the review period. An increase in the value of imports into Kenya has widened the country’s trade deficit with its partners by Sh20 billion in the first quarter of 2024 compared to the same time last year, data by the Kenya National Bureau of Statistics (KNBS) shows This saw the balance of payments widen…