Author: Maingi Gichuku

Maingi Gichuku is passionate about helping African businesses grow by offering technology solutions. With a BSC in Zoology and biochemistry, Gichuku yearns for an Africa that can find solutions to its challenges. My drive is to see an economically dynamic Africa and embrace its populations by creating opportunities cutting across the social and economic strata.

BAT Kenya Posts Sh2.9bn Half Year Profit www.theexchange.africa

While American businesses handle the USTDA-funded feasibility studies, African partners focus on business development “may acquire funding from any of the parties available. We do not have any requirements about the source of the financing for that initiative; nevertheless, we would prefer that they work with other government agencies in the United States, “Ebong added.

According to Ebong, the return on investment for feasibility studies is approximately $117 for every dollar spent, which converts into jobs in the United States.

She went on to say that infrastructure is “essential to commerce”, that “we are totally competitive,” and that “This is evidenced by the fact that many partners are choosing American companies over Chinese ones when they are in direct rivalry with one another.”…

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BAT Kenya Posts Sh2.9bn Half Year Profit www.theexchange.africa

However, cumulative taxes increased by 2% to a total of sh9.4 billion, which reflects higher exercise duty charges and increased profitability.

The increased tax liability that BAT faces is a result of recent hikes in exercise duty rates, one of which will be a five per cent rise in November 2021.

After a 10% increase in the rate of excise duty took effect in July of 2022, it is anticipated that the impact of the higher duty will continue to have a significant influence on the second half of the year.
The Board of Directors of BAT has approved a proposal to pay an interim dividend of Ksh.5 per share, which would amount to a total pay-out of Ksh.500 million and would be distributed on or around 16 September.

According to a statement released by the BAT Kenya Company Secretary, Kathryne Maundu, “the interim dividend, which will be paid on …

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What to expect from Newly launched NNPC Limited www.theexchange.africa

Kyari disclosed that the Dangote refinery’s boilers will be fired up in the 2023 first quarter, a development that will assist Nigeria’s “foreign exchange supply problem.”

He went on to say that despite the fact that the NNPCL was still going to be primarily owned by the federation even though it was still in its infancy, the new company will no longer require the approval of either the National Assembly or the executive to borrow money or look for financing for projects.

There is room for unaffiliated third parties to purchase ownership in this business. But as we speak right now, there are more than 200 million Nigerians who are stockholders.

There is a possibility for a second level of privately held ownership, and one way to achieve this would be to sell off part of these shares of equity. This would allow individuals, rather than the nation as a …

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I&M;Dutch lender have agreed to cover Sh1.7 billion in SME loans. www.theexchange.africa

As part of its ongoing, I&M Bank intends to broaden its engagement with micro, small, and medium-sized enterprises (MSMEs); therefore, the risk-sharing facility will be used for the MSME portfolio.

More than one-third of Kenya’s gross domestic product is generated by micro, small, and medium-sized enterprises (MSMEs), most of which are held by women and young people. However, many business owners continue to have difficulty gaining access to various forms of financial assistance.

Traditional business customers have been the primary focus of the bank’s attention as of late. Following the plan laid out by the bank, I&M Bank will broaden the availability of financial services to micro, small, and medium-sized enterprises (MSMEs) all over the nation while simultaneously offering digital solutions, such as partnerships with fintech companies, to facilitate a seamless transition.…

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South African : MTN in talks to buy Telkom www.theexchange.africa

Vodacom recently agreed to purchase a co-controlling stake in the fibre assets held by Community Investment Ventures Holdings, increasing the competitive pressure on MTN.

MTN has declared that it will withdraw its operations from the Middle East by the end of 2020 to concentrate on the rapidly expanding African market.

According to AJ Snyman, an investment analyst at Peregrine Capital, the chances of the Competition Commission of South Africa approving the merger in its current shape are “nil.” This is the opinion that Snyman held.

“If the merger goes through, MTN and Telkom will have at least a 50 per cent market share in the mobile area, which is certainly a dominant market position,” Snyman said.

MTN would also gain access to Telkom’s valuable 3.2 gigahertz spectrum, which is suitable for 5G and would give it a dominating spectrum holding, he added. This would be advantageous for MTN.…

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Biden backs Egypt's water security as Ethiopia prepares for the third GERD filling. www.theexchange.africa

Egypt and Sudan, both of which are located further downstream on the Nile, on the one hand, and Ethiopia, which is located upstream on the Blue Nile, on the other, have been engaged in a protracted disagreement on the construction of the GERD.

The two former countries are dependent on the waters of the Nile, and they are afraid that the reservoir being filled behind the dam will reduce the amount of water available to them. The reservoir has a capacity of 74 cubic kilometres, which is equivalent to 1.6 years of the average flow of the Blue Nile.

The Nile provides Egypt with 90 per cent of its fresh water and is essential to the country’s agricultural and power generation systems.

It is estimated that the filling will take seven years to complete, with the first two stages already having been finished. According to statements made before the end …

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Bank of Baroda to 90% financing of Deluxe Motors' trucks and buses. www.theexchange.africa

New and returning clients will be eligible for fee reductions associated with lending facilities in the current economic climate.

This one-of-a-kind finance collaboration will continue operations in Kenya for the next twelve months. The Small and Micro Enterprise sector, which is the country’s primary source of employment, stands to gain the most from it. It is part of an effort to lighten their overall financial burden.

Customers can obtain up to 90 per cent financing on the reduction of their balances over a maximum term of 60 months, thanks to the cooperation. In addition, consumers will be given a loan repayment grace period of up to ninety days following the date on which their vehicles are delivered, with any and all loan application fees being waived.…

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Somalia, Kenya ink deals on khat, aviation as relations warm www.theexchange.africa

The July 15, 2022 agreement signifies that diplomatic relations are strengthening between the two Eastern African countries.

Fish imports from Somalia and Miraa exports from Kenya are expected to start again “with immediate effect,” according to a joint declaration issued by Kenyan and Somali officials.

The two nations have “decided to facilitate, diversify, and develop economic and trade cooperation and ordered the speedy market access of fish products and fish from Somalia to Kenya and vice visor, the resumption of trade in khat (miraa) between Kenya and Somalia will begin immediately, this is to take effect immediately.”

However, their relationship has been tumultuous due to a disagreement over the rights of prospective offshore gas and oil deposits, some of which are located off their disputed maritime border and belong to the United Nations.…

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Family Bank and Aqua sign an Sh350 million agreement to increase lending to water companies. www.theexchange.africa

Because of this relationship, Family Bank’s MajiPlus lending facility, which offers adaptable financial solutions for microbusinesses, individuals, water service providers, and small and medium-sized businesses, will receive support.

In addition to this, Family Bank will give its customers training materials on how to provide finance for climate-resilient projects in the water, sanitation, and hygiene sector.

Pim van der Male, First Secretary for Food Security and Water at the Embassy of the Kingdom of the Netherlands, applauded the alliance. At the same time, he was present at the signing ceremony.

“For many years, the Dutch government has funded Aqua for All because it believes in Aqua for All’s holistic strategy to bridging service and financial gaps to speed access to safe water and good sanitation for all.”

I am pleased to note that the collaboration between Family Bank and Aqua for All is an example of this.…

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Zambia intends to scrap almost $2 billion in projects in order to reduce debt www.theexchange.africa

In the year 2020, Zambia became the first nation in the Covid-19 era to default on its obligations. At the end of the year 2021, its total external debt was US$17.27 billion, of which China held US$5.78 billion. Currently, it is engaged in discussions with its creditors and the International Monetary Fund (IMF) to find a way to climb out of its current financial predicament and reduce its reliance on debt.

There are several other countries besides Zambia that owe a significant amount of money to China. It is believed that African countries’ debts with the country make up a third of the total obligations owed to private lenders who are not Chinese. Over a third of the debt repayments for the year, 2021 were transferred to Chinese lenders by Angola, the Republic of Congo, Cameroon, Djibouti, Ethiopia, and Zambia, respectively.

Deborah Brautigam, a researcher with the China Africa Research …

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