Author: Martin Mwita

Diageo has committed to invest £180 million (US$217million) in renewable energy resources across its African sites, the British multinational alcoholic beverages company has announced.

According to the world’s second largest distiller, the move is to ensure its breweries are the most carbon and water efficient.

This commitment represents Diageo’s largest environmental investment in a decade confirming its commitment to reducing its carbon footprint and addressing climate change.

READ ALSO:How KBL’s water savings are quenching communities’ thirst

The investment will touch 11 of Diageo’s African brewing sites where it will deliver new solar energy, biomass power and water recovery initiatives.

It is also targeting to bring new infrastructure designed to improve the long-term sustainability of Diageo’s African supply chain in seven countries.

“We believe this is one of the biggest single investments in addressing climate change issues across multiple sub Saharan markets. It demonstrates the strength of our commitment to …

Nairobi Security Exchange’s top share index-NSE 20 shed some 43.09 points or 1.67 per cent to stand at 2543.59 on Friday, even as volumes rose from the previous trading.

The index that tracks blue chip companies at the bourse has been on a downward streak in recent weeks, affecting other indices, amid a continued decline in large cap stocks.

READ ALSO:NSE dips as 2018 ends on a bear market territory

During the last day of the week trading, All Share Index (NASI) shed 0.28 points to stand at 148.05. The NSE 25 Share index ended 9.25 points lower to settle at 3572.56, market data shows.

Market turnover for Friday however stood at Ksh332 million (US$3.2 million) from the previous session’s Ksh179 million (US$1.7 million) as the number of shares traded rose to 12.5 million against 9.9 million posted the previous day.

Week on week turnover however retreated to Ksh1.16 …

Little Ride Kenya has launched the first Health Insurance covers for its drivers in the Kenyan market in partnership with APA Insurance and MicroEnsure, a leading provider of micro insurance in emerging markets.

The cover will cater for costs such as payment of their medical bills, transport to hospital, compensation for lost income, in addition to cover for funeral expenses.

Little Ride drivers who are unable to work due to being hospitalised claim a daily benefit of up to Sh2,000(US$19.41).

In addition, the product also covers up to Sh50,000(US$485.20 ) personal accident benefit and funeral expenses up to Sh50,000 upon death of the insured.

Speaking during the official launch of the automated insurance solution, APA Chief Executive Officer, Catherine Karimi said:“Through our partnership with MicroEnsure and Little Cab, APA Insurance is bringing affordable healthcare and funeral cover to Little Cab drivers.  By offering access to these services, we improve the …

Leading electronic financial services company NilePay PLC has partnered with Zain South Sudan to launch the first licensed mobile money service in South Sudan.

Dubbed ‘NilePay Mobile Money’, the service is expected to deepen financial inclusion in the country.

The partnership is geared towards eliminating significant barriers that have hindered consumers in the country from taking full advantage of global eCommerce.

“NilePay Mobile Service’s partnership with Zain South Sudan is part of the company’s long-term strategy to enable eCommerce and digitize financial services across the country,” said Darius Mobe, Director, NilePay Mobile Money.

Most people in South Sudan’s capital have been relying on unlicensed mobile operators to transfer money through platforms created by MTN Uganda and Kenya’s M-PESA.

“We are excited to have partnered with NilePay PLC to bring the mobile wallet services to the South Sudan market, which makes it more convenient and secure for users to withdraw …

Pewin Group has inked deals worth Ksh7.3 billion(US$70.8million) with business firms from Belarus during a Belarus Kenya Business Forum in Nairobi.

The firm signed an MoU to distribute tractors and set up an assembly plant with a Belarusian firm, Afttrade DMCC. They also signed an MoU to distribute fish feeds and set up a processing fish plant for the local and export market with BelinterBox.

The memorandum which is funded locally by Family Bank and the Government of Belarus will see Kenya benefitting from the new technology, exchange programmes and access to best practices in agricultural industry.

“This is a historic day for Pewin Group and Kenya. The Belarus tractors are globally renowned for their performance in general agricultural work including sowing, harvesting and transportation. In support of the Big 4 Agenda, this MoU means that small scale farmers can now access reasonably priced tractors with the latest technology and …

Kenya has reaffirmed its continued push for the closure of all ivory trade markets across the world.

First Lady Margaret Kenyatta says the country will continue with its campaign against the reopening of markets for animal trophies especially ivory.

The campaign is being supported by 31 other African states grouped under the African Elephant Coalition (AEC).

The First Lady spoke at an ivory burning site inside the Nairobi National Park where she presided over the official launch of the CITES CoP18 Awareness Campaign.

READ ALSO:How eBay and IFAW ban on African Ivory stood for a decade

CITES stands for the Convention on International Trade in Endangered Species of Wild Fauna and Flora while CoP18 is the acronym for the Conference of Parties to the CITES.

The CITES CoP18 global conference is scheduled for this month in Geneva, Switzerland.

“Today we are lobbying and petitioning for the closure of all …

Kenya’s Equity Bank has been named Africa’s Best Digital Bank for 2019 at the Euromoney Awards for Excellence, validating its role in delivering simple, fast, convenient and affordable banking products and services to customers.

Equity has been recognised for being a bank that shows true leadership in its digital offerings, both in corporate and retail banking, and uses technology to benefit both clients and the efficiency of the institution, placing digital at the heart of its business.

Digitisation has seen 93 per cent of loans disbursed by the bank, being accessed through the mobile channels, while 97 per cent of all cash-based transactions are happening outside Equity Bank branches, with mobile and agency channels taking the lion’s share.

READ ALSO:Fintech drives Equity Bank’s diaspora remittances to Ksh100Bn

Digitisation of the customer journey has eased customer experience leading to growth of digital payment transactions by 94 per cent in the …

Economic diplomacy can conquer poverty and create more jobs in Africa, President Uhuru Kenyatta has said.
The Kenyan President has since called on those in positions of power to provide quality leadership by getting actively involved in economic diplomacy that delivers opportunities for growth and transformation.

President Kenyatta spoke at Avani Victoria Falls Resort in the tourist town of Livingstone in Zambia, when he addressed the inaugural National Economic Summit (NES) at the invitation of President Dr Edgar Lungu.

READ ALSO:Why it’s too expensive for Africa trading internationally

Economic diplomacy is an engine that developing countries are employing to drive faster economic development especially in Africa.

It is becoming a major theme of the external relations of virtually all countries.  Economic Diplomacy promotes a country’s foreign and financial relations in support of its foreign policy.

Current trends include increasing collaboration between state and non-official agencies, and increased importance given …

In her quest to pursue more renewable energy, Kenya has injected an additional 79 megawatts of geothermal power to the national grid.

This follows the completion of Unit 1 of Olkaria V Geothermal Power Plant by the Kenya Electricity Generating Company (KenGen) PLC.

The Unit was first synchronized to the grid on the June 28 and thereafter subjected to commissioning tests. It was then taken through a series of load tests until it attained its full design output of 82.7MW.

Commenting on the milestone, KenGen Managing Director & CEO, Mrs. Rebecca Miano, said the additional capacity would play a significant role in supporting Kenya’s power needs while enhancing the amount of green energy in the national grid.

“We are delighted to announce the completion of the first unit of Olkaria V Geothermal Power Plant and subsequently injecting 79 MW to the national grid. This brings to 612MW the total amount …

The Kenyan government has set up a multi-sectoral working committee to coordinate enforcement of various regulations affecting food safety in the country.

This follows recent trends of illegal activities in the food sector such as adulteration, poor hygiene, improper handling and misuse of chemicals.

The committee brings together ministries related to food production, safety, trade and enforcement of regulations.

These are the Ministry of Agriculture, Livestock, Fisheries and Irrigation, Ministry of Health, the Ministry of Industry, Trade and Cooperatives and the Ministry of Interior and Coordination of National Government.

Speaking after the inaugural meeting, Livestock PS Harry Kimutai said the government has committed itself to support the production of safe food to ensure the growth of a healthy and secure nation.

“The various government agencies represented here are directly involved in ensuring food safety and would like to assure consumers that food in the markets, including meat products, is safe …