Author: Wanjiku Njugunah

• EA Limited, an African infrastructure investment company based in Nairobi, Kenya, has announced plans to develop an affordable housing project worth USD 250 million in the Democratic Republic of Congo (DRC)
• The project targets the Office Conglais De Controle (OCC) staff (a quality assurance body) and will consist of 5,000 units to be constructed over a period of five years, starting in 2022
• EA limited will be the Engineering, Procurement and Construction (EPC) contractor as per the signed Memorandum of Understanding (MOU) with Symbion Architect

EA Limited, a subsidiary of TransCentury PLC, an African infrastructure investment company based in Nairobi, Kenya, has announced plans to develop an affordable housing project worth USD 250 million (KSh 29.8 billion) in the Democratic Republic of Congo (DRC).

According to EA Limited, the project targets the Office Conglais De Controle (OCC) staff (a quality assurance body).

It will consist of 5,000 units to be …

• Central Bank of Kenya data shows that Kenya’s banking sector assets grew by double-digits in 2021, owing to growth in the purchase of government securities
• The Kenya Financial Sector Stability Report shows that loans and advances (net) as a share of net assets declined to 48.5 per cent in 2021 from 49.2 per cent in 2020
• Investment in government securities grew at a faster pace compared to growth in loans and advances between 2021 and 2020

A new report by the Central Bank of Kenya shows that Kenya’s banking sector assets grew by double-digits in 2021 because of the increased purchase of government securities.

According to the Kenya Financial Sector Stability Report, loans and advances (net) as a share of net assets declined to 48.5 per cent in 2021 from 49.2 per cent in 2020. At the same time, government securities holding increased to 30.5 per cent in December 2021 …

• Stanbic Holdings Plc has announced a profit of KSh 4.8 billion for the half year ended 30 June 2022, representing a 37 per cent increase from last year’s performance
• The performance is attributable to strong business momentum, and judicious execution of its digital transformation strategy as the Group continues to support its customers in their growth journeys
• Stanbic Bank CEO Charles Mudiwa said the performance reflects resilience amidst a tough operating environment characterised by uncertainties around elections and risks posed by the Russia-Ukraine conflict

Stanbic Holdings Plc has announced a profit of KSh 4.8 billion for the half year ended 30 June 2022, representing a 37 per cent increase from last year’s performance.

According to the Kenyan lender, the performance is attributable to strong business momentum, and judicious execution of its digital transformation strategy as the Group continues to support its customers in their growth journeys.

Stanbic Bank CEO Charles …

• KEMSA said it had invested more than KSh 30 million to facilitate efficient service provision from the Kisumu regional supply chain centre
• KEMSA is executing a three-pronged transformation strategy (KEMSA2.0) geared at enhancing its customers’ experience 
• The county has accessed health supplies from KEMSA worth more than KSh 122million in the last financial year, comprising TB drugs, Antiretroviral therapies, HIV test kits and antimalarials

The Kenya Medical Supplies Authority (KEMSA) said it had invested more than KSh 30 million to facilitate efficient service provision from the Kisumu regional supply chain centre.

On August 19, 2022, the CEO of KEMSA Terry Ramadhani said the Authority is executing a three-pronged transformation strategy (KEMSA2.0) geared at enhancing its customers’ experience by providing quality, assured, efficient supply chain solutions for health commodities. She spoke when she hosted Homa Bay County Governor-Elect Gladys Wanga in her office.

What is KEMSA’s strategy?

As part of the …

• Afya Rekod has partnered with Medi-science International Limited to transform healthcare delivery through improved access to personal health data in Africa and Europe
• The partners said the deal would give patients an accessible record of their own health history by enabling patients, doctors and hospitals to host health records securely on one platform 
• Through such partnerships, Afya Rekod said it is decentralising current healthcare systems

Kenya’s Afya Rekod has partnered with British firm Medi-science International Limited to transform healthcare delivery through improved access to personal health data in Africa and Europe.

On Friday, August 19, 2022, the partners said the deal would give patients an accessible record of their own health history by enabling patients, doctors and hospitals to host health records securely on one platform through a digital application.

Through such partnerships, Afya Rekod said it is decentralising current healthcare systems.

Commenting on the partnership, John Kamara, CEO Afya …

• The East African Community (EAC) should boost its transactions under the existing regional and international trade agreements and opportunities
• EABC Chairperson Angelina Ngalula said agreements including African Continental Free Trade Area (AfCFTA), and African Growth and Opportunity Act (AGOA) would be beneficial 
• Data shows that Intra-EAC trade is below 20 per cent, while intra-African exports are 18 per cent of total exports

The East African Community (EAC) should boost its transactions under the existing regional and international trade agreements and opportunities.

East African Business Council Chairperson Angelina Ngalula said the bloc could benefit from the African Continental Free Trade Area (AfCFTA), African Growth and Opportunity Act (AGOA), and the Economic partnership agreement.

Quoting statistics, Ngalula noted that intra-EAC trade is below 20 per cent, intra-African exports are 18 per cent of total exports, and EAC exports to AGOA are valued at USD 5.26 billion, while EAC exports to EU stood …

• Kakuzi PLC has posted a 60 per cent rise in its pretax profit to reach KSh 494.7 million for the first six months of the year 
• The performance came against the firm’s strategic Avocado and Macadamia crops and steadily growing revenues from its market and product diversification efforts
• The complex international markets, an increasing cost base for many of the firm’s key inputs, and a worldwide consumer spend squeeze may affect the full-year results

Kakuzi PLC has posted a KSh 494.7 million pretax profit in its half-year results.

In a statement, the listed company said the performance was driven by increased sales, leading to a 60 per cent rise in its earnings.

The performance came against the firm’s strategic Avocado and Macadamia crops and steadily growing revenues from its market and product diversification efforts.

Kakuzi Managing Director Chris Flowers said the firm’s pretax profit has grown to KSh 494.7 million, …

• Java House Africa Group has announced that it was seeking franchisees under its Kukito Brand, which primarily serves grilled chicken and fries, to accelerate its growth in Kenya
• The restaurant chain is looking to partner with local investors for an undisclosed amount who will use the Kukito brand name to establish more fast-food outlets across the country
• The Group announced plans to open 30 new Kukito outlets in various parts of Nairobi in July 2021, reflecting the Group’s proactive expansion strategies

International restaurant chain Java House Africa Group has announced that it was seeking franchisees under its Kukito Brand, which primarily serves grilled chicken and fries, to accelerate its growth in Kenya.

The restaurant chain is looking to partner with local investors for an undisclosed amount who will use the Kukito brand name to establish more fast-food outlets across the country.

This comes after the Group announced plans to open …

• German-based manufacturing company Stihl Group has announced plans to open a new subsidiary dubbed Stihl East Africa in Nairobi, Kenya, by the end of August 2022
• This will make Kenya the first East African hub for the manufacturing company and the second African country after South Africa, where the company established a subsidiary in 1996
• Stihl said it intends to distribute its agricultural and construction equipment to the East African countries, which include Tanzania, Uganda, Burundi, Rwanda, South Sudan, Ethiopia, and Somalia, through Kenya

Stihl Group, a German-based manufacturing company, has announced plans to open a new subsidiary dubbed Stihl East Africa in Nairobi, Kenya, by the end of August 2022.

This will make Kenya the first East African hub for the manufacturing company and the second African country after South Africa, where the company established a subsidiary in 1996.

Stihl said it intends to distribute its agricultural and construction …

• The African Continental Free Trade Area (AfCFTA) Secretariat has launched an online hub to ease trade on the African continent
• The AfCFTA Hub is a focal point for national governments, intergovernmental, private, and public organisations
• It links the parties together to make way for SMEs and startups to drive the success of the African Continental Free Trade Area

The African Continental Free Trade Area (AfCFTA) Secretariat has launched an online hub to ease trade on the African continent.

The AfCFTA Hub is a focal point for national governments, and intergovernmental, private, and public organisations. It links the parties together to make way for SMEs and startups to drive the success of the African Continental Free Trade Area.

The online hub is designed to grow into a single, trusted directory of the services needed to navigate the AfCFTA for small players, thereby making the AfCFTA the most inclusive Free Trade Area …