Author: Wanjiku Njugunah

• Kakuzi, a listed Kenyan agri-business, has partnered with marketing firm Driscoll’s to launch a blueberry export plan
• Under the deal, the two firms plan to grow the local and export volumes of blueberry in Kenya 
• The blueberry venture, which has been undergoing production and commercial trials, is part of Kakuzi’s revenue diversification strategy

Kenya has announced plans to export blueberries into the international market, following a partnership between Kakuzi and Driscoll’s.

On August 12, 2022, the listed Kenyan business signed a deal with Driscoll’s, a global market leader in fresh strawberries, blueberries, raspberries and blackberries, to grow the local and export volumes of blueberry.

Kakuzi PLC Managing Director Chris Flowers said Driscoll’s market evaluation team conducted a fact-finding tour of the firm’s orchards in Makuyu, Murang’a county, prior to launching the blueberry export plan.

Driscoll’s team comprised 13 senior sourcing, Technical and market development executives led by Driscoll’s Vice President …

• Local Authorities Pension Fund (LAPF) Kenya has announced plans to construct a mixed-use facility  at an estimated cost of KSh 10.0 billion ($83 million) in Nakuru County
• The mixed-use facility will comprise a shopping mall, a five-star hotel, a warehouse block, residential apartments, a kindergarten school, a petrol station, and an amusement park
• The facility’s construction, which will be done in phases for an undisclosed period, will add to the pension administrator’s investment assets, currently over KSh 51.6 billion
• A mixed-use building aims to combine three or more uses into one structure, such as residential, hotel, retail, parking, transportation, cultural, and entertainment

Local Authorities Pension Fund (LAPF) Kenya has announced plans to construct a mixed-use facility at an estimated cost of KSh 10.0 billion ($83 million) in Nakuru County.

The mixed-use facility will comprise a shopping mall, a five-star hotel, a warehouse block, residential apartments, a kindergarten school, a petrol …

• National Bank of Kenya (NBK) has received $10 million from WaterEquity investment for onward lending to public and private water utility companies

• The NBK, WaterEquity partnership will also benefit micro, small, and medium-sized enterprises (MSMEs) by boosting the KSh 5 Billion NBK Majikonnect programme 

• NBK’s collaboration with WaterEquity is also expected to positively and significantly impact the country’s access to water, sanitation, and hygiene services and products

National Bank of Kenya (NBK) has partnered WaterEquity, a global impact investor, for onward lending to public and private water utility companies.

The NBK, WaterEquity partnership will also benefit micro, small, and medium-sized enterprises (MSMEs) by boosting the KSh 5 Billion NBK Majikonnect programme up to an additional USD 10 million.

Acting NBK Managing Director Peter Kioko reaffirmed the bank’s commitment to supporting last mile connectivity in the water sector through increased access to financing.

He described WaterEquity as an entity intentionally focused …

• Most business executives in Kenya expect a stable economy after the August 9 general elections to support higher industry business growth
• Business executives also expressed optimism about hiring additional full-time employees in the next six months, which will translate to increased business operations
• Overall, the current CEOs Business Confidence Index by KEPSA stands at 61 points

As Kenya heads to the polls on August 9, 2022, the Kenya Private Sector Alliance (KEPSA) has launched the CEOs Business Confidence Index Report 2022, showing that most business executives expect a stable economy after elections to support higher industry business growth.

According to the index, the current CEOs Business Confidence Index stands at 61 points overall. Business executives also expressed optimism about hiring additional full-time employees in the next six months, which will translate to increased business operations.

KEPSA CEO Carole Kariuki said the report’s findings come when the ongoing war in Ukraine …

• CIC Insurance’s gross profit hit KSh 464 million in the first six months of 2022, compared to a pre-tax profit of KSh 337 million posted in a similar period in 2021.
• CIC said the performance was driven by strong growth in the gross written premium and improved performance on the underwriting results 
• CIC’s gross written premium grew by 23 per cent to KSh 13.2 billion from KSh 10.7 billion, driven by growth in all its businesses in Kenya and the regional countries
• The company’s total assets increased by 10 per cent from KSh 41 Billion as of 30th June 2021 to KSh 45.8 billion as of 30th June 2022 as investments continued to grow

CIC Insurance’s gross profit hit KSh 464 million in the first six months of 2022, compared to a pre-tax profit of KSh 337 million posted in a similar period in 2021. The performance represents a 38 …

• President Uhuru Kenyatta has established a government agency whose work will be to ensure access to the safe and ethical use of human cells, tissues and organs in Kenya
• Kenyatta established the Kenya tissue and transplant authority through a special gazette notice dated August 1st
• The Kenya tissue and transplant authority will be a successor to the National Blood Transfusion, Tissue and Human Organ Transplant Services Department

President Uhuru Kenyatta has established a government agency whose work will be to ensure access to the safe and ethical use of human cells, tissues and organs in Kenya.

On August 4, 2022, Kenyatta launched the Kenya tissue and transplant authority, through a special gazette notice dated August 1st.

The authority will be a successor to the Department of the National Blood Transfusion, Tissue and Human Organ Transplant Services.

It will be required to ensure the safety, biosafety and wellbeing of donors and …

• The Insurance Regulatory Authority has revealed that claims paid in the general insurance business hit KSh 16.85 billion ($142 million) in the first quarter of 2022
• The report further revealed that medical, motor private, and motor commercial had the highest amounts of paid claims at 46.3 per cent, 25.9 per cent and 19.5 per cent, respectively
• Claims incurred in the general insurance business amounted to KSh 18.43 billion during the period under review
• The high premium volume classes of the general insurance business – medical, motor private and motor commercial, contributed the largest proportions of incurred claims

A new report by the Insurance Regulatory Authority has revealed that claims paid in the general insurance business hit KSh 16.85 billion in the first quarter of 2022, marking a 13.3 per cent increase compared to the same period last year when insurers paid claims worth KSh 14.88 billion.

The report further revealed …

• Thousands of young people in Kenya’s Nyanza region will get jobs at the Kisumu Shipyard  
• President Uhuru Kenyatta said the shipyard would also create business opportunities for youths in Kisumu 
• The facility, under the Kenya Shipyards Limited, will also encourage the growth of primary and ancillary manufacturing industries

Thousands of young people in Kenya’s Nyanza region will get jobs at the Kisumu Shipyard, which has just been operationalised.

On August 2, 2022, President Uhuru Kenyatta said the Kisumu shipyard would also create business opportunities for youths in Kisumu.

Kenyatta said the facility, under the Kenya Shipyards Limited, will also encourage the growth of primary and ancillary manufacturing industries.

He also noted that the Kisumu Shipyard would improve transport and safety in the lake, enhance intermodal transport, and boost fishing, tourism and other economic activities in the Eastern Africa region.

“The role of the Kenya Shipyards Limited in developing the Blue …

• Land prices in Nairobi’s satellite towns hit all-time highs in the second quarter of 2022 because of continued investor demand for new land for development and investment
• Overall land prices in the satellite towns improved by 4.1 per cent over the quarter, with all 14 suburbs tracked by the index posting positive returns
• Tigoni emerged as the best performing town with prices increasing by 6.65 per cent over the quarter, while Juja recorded a 20.91 per cent annual increase

Land prices in Nairobi’s satellite towns hit all-time highs in the second quarter of 2022, a new report by property experts HassConsult has found.

The company attributed the performance to continuous investor demand for new land for development and investment.

Overall land prices in the satellite towns improved by 4.1 per cent over the quarter, with all 14 suburbs tracked by the index posting positive returns. Limuru and Athi River were …