Author: Wanjiku Njugunah

KCB Bank Kenya has invested over KSh 120 billion to support Oil Marketing Companies (OMCs) importing fuel as it seeks to consolidate its support to the energy sector KCB has been facilitating oil importation into the country by financing the oil firms under its portfolio that have won business under the Open Tender System (OTS) through the Ministry of Petroleum and Mining KCB Group CEO Paul Russo said that KCB is a champion of regional trade, extending its services across the border of East Africa and beyond as a catalyst for the energy sector KCB Bank Kenya has injected over…

Persons with Disabilities in Kenya will get connected to jobs more easily following a partnership between Safaricom and the National Council of Persons with Disabilities (NCPWD) Safaricom and NCPWD will connect persons with disabilities with job opportunities through Fuzu, an online recruitment portal Fuzu, which has been active since November 2020, currently has over 360 employers and over 5,000 job candidates Kenya’s leading telecommunications company, Safaricom, has partnered with the National Council of Persons with Disabilities (NCPWD) to connect persons with disabilities with job opportunities through an online portal. In a statement seen by The Exchange Africa, the company said…

Absa Bank Kenya has announced the exit of its CEO Jeremy Awori after nearly ten years of service Commenting on Awori’s tenure, the board credited him for outstanding leadership, service and contribution Absa revealed that Awori has decided to pursue a career opportunity outside the Absa Group Jeremy Awori, Absa Kenya’s long-serving CEO, is leaving the bank. On September 8, 2022, the Board of Absa Bank Kenya PLC announced that Awori is leaving the company after nearly 10 years of service. Commenting on Awori’s tenure, the board credited him for outstanding leadership, service and contribution. Absa revealed that Awori has…

Uber is expanding into eight more cities across Kenya, Nigeria and Ghana and raising its safety measures The company announced that it will now be operational in Owerri and Akure in Nigeria; Eldoret, Kisumu, Nakuru and Naivasha in Kenya; and Tamale and Sunyani in Ghana The ride-hailing app has also launched sharing options across the markets to help reduce costs for riders and increase demand for drivers Uber is expanding into eight more cities across Kenya, Nigeria and Ghana and raising its safety measures. On September 7, 2022, the company announced that it will now be operational in Owerri and Akure…

Kenya’s Purchasing Managers’ Index (PMI) fell below the 50 points mark to 44.2 in August 2022, down from 46.3 in July, to indicate deteriorating conditions for businesses in the country Businesses in Kenya were negatively affected by the August 2022 general elections, further deepening woes currently being experienced in the country’s private sector The decline was the lowest seen since the lockdown hit a period in April 2021 and was led by the construction and manufacturing sectors Kenya’s Purchasing Managers’ Index (PMI) fell below the 50 points mark to 44.2 in August 2022, down from 46.3 in July, to indicate…

The International Finance Corporation (IFC) says it will extend USD 150.0 million (KSh 18.0 billion) to KCB Group as a senior unsecured loan  The credit facility would support the growth of the bank’s climate finance portfolio, which entails clients in sectors such as manufacturing, real estate and agriculture This is the third facility from IFC following a 10-year USD 150.0 million and a 7-year USD 75.0 million extended to KCB Group in 2020 and 2018, respectively The funding makes KCB Group the biggest borrower from IFC among tier one Kenyan lenders, with a cumulative amount of USD 375.0 million (KSh…

A new report by Knight Frank indicates that the ongoing war in Ukraine will affect Kenya’s overall gross domestic product in 2022  According to the Half-year report, Kenya’s gross domestic product is projected at 5.5 per cent in 2022, lower than last year’s 7.5 per cent While Kenya has no significant direct trade with Russia and Ukraine, its exposure – as a net fuel, wheat, and fertiliser importer – to the global price impacts of the Russian invasion of Ukraine remains telling Kenya’s gross domestic product is projected at 5.5 per cent in 2022, lower than last year’s 7.5 per…

Technology company Little has announced plans to construct a commercial office building in Lavington, Nairobi, using commercial mortgage loans The cost of the construction is estimated to come in between KSh 597.9 million and KSh 717.4 million, and will begin in 2023 on an undisclosed size of land in Lavington Little began its operations in 2016 as a taxi-hailing service provider and is currently based in Craft Silicon Campus building in Westlands, along with its parent company, Craft Silicon Limited Kenyan-based technology company Little has announced plans to construct a commercial office building in Lavington, Nairobi, using commercial mortgage loans.…

Johnson & Johnson and the Ministry of Kenya have signed an MoU to facilitate access to quality mental healthcare services in Kenya The MoU that would see Kenyans would benefit from improved access to effective and appropriate mental healthcare services and products. It would also see Johnson & Johnson support the development of a Psychiatric Telemedicine Solution in Kenya Kenya’s Ministry of Health has signed a collaborative pact with Johnson & Johnson to facilitate access to quality mental healthcare services in Kenya. On September 2, 2022, the ministry signed a Memorandum of Understanding (MoU) that would see Kenyans would benefit…

Kakuzi Plc’s inaugural Hass Avocado export cargo to China has been sold-out, paving the way for the pre-export planning for a second load to be delivered in October The firm’s Managing Director Christopher Flowers revealed Kenya has a bright market future in China, which they believe will absorb larger volumes like other traditional European markets Kakuzi also revealed that it is currently exploring the Malaysian market as part of its market diversification strategy Kakuzi Plc’s inaugural Hass Avocado export cargo to China has been sold out, paving the way for the pre-export planning for a second load to be delivered…