Author: Wanjiku Njugunah

• A survey by Stanbic Bank of Kenya revealed that Kenyan firms continued to report a drop in output levels at the end of the second quarter of 2022
• The rate of decline sped up for the third straight month and was sharp, shown by a further decrease in the seasonally adjusted Output Index to its lowest since April 2021
• The sector’s headline Purchasing Managers’ Index (PMI) fell to 46.8 from 48.2 in May, indicating a continued decline in business conditions and activities in the Kenyan economy

Kenyan firms continued to report a drop in output levels at the end of the second quarter of 2022.

A new survey by Stanbic Bank Kenya indicates that the rate of decline sped up for the third straight month and was sharp, shown by a further decrease in the seasonally adjusted Output Index to its lowest since April 2021.

Surveyed businesses said they were …

• Kenya’s average inflation rate increased to 6.3 per cent in the first half of 2022, compared to 5.9 per cent in a similar period in 2021
• A report by Cytonn Investments has attributed the rise to a 13.8 per cent and 7.1 per cent year-on-year increase in food and oil prices
• Inflation for June 2022 came in at 7.9 per cent, the highest since August 2017 and an increase from the 7.1  per cent recorded in May

Kenya’s average inflation rate increased to 6.3 per cent in the first half of 2022, compared to 5.9 per cent in a similar period in 2021.

A report by Cytonn Investments has attributed the rise to a 13.8 per cent and 7.1 per cent year-on-year increase in food and oil prices, respectively.

During the period under review, the price of super petrol, diesel and kerosene increased by 22.7 per cent, 26.6 per cent …

• Bolt has opened its Africa Head Office in Riverside, Nairobi, Kenya, months after receiving funding amounting to US$716 million for expansion
• The company said the new location would assist them in leveraging Nairobi’s strategic position to serve as a regional hub for its operations in Africa
• The office will act as the regional nerve centre of the company, whose operations in Africa cuts through seven countries

Bolt has opened its Africa Head Office in Nairobi, Kenya, months after receiving funding amounting to US$716 million for expansion.

In a statement, Bolt said the new location would assist them in leveraging Nairobi’s strategic position to serve as a regional hub for its operations in Africa.

The on-demand mobility platform opened the office in Riverside Drive, Nairobi. The office will act as the regional nerve centre of the company, whose operations in Africa cuts through seven countries.

Apart from Kenya, Bolt also has …

• The Kenyan government said it had raised funding for the National Blood Transfusion Service Unit
• The Ministry of Health said funding had raised by 738 per cent from KSh 120 million ($1 million ) in the Financial Year 2017/18 to KSh 886 million ($7.5 million) in the Financial Year 2021/22
• Health Principal Secretary Susan Mochache said that increased budgetary allocation to the unit, and structural reforms, had yielded remarkable improvement in blood transfusion services

The Kenyan government said it had raised funding to the National Blood Transfusion Service Unit by 738 per cent from KSh 120 million ($1 million ) in the Financial Year 2017/18 to KSh 886 million ($7.5 million ) in the Financial Year 2021/22.

In a statement sent to The Exchange Africa, the country’s ministry of health further indicated that they had been leveraging UHC funds with an additional KSh 700 million ($5.9 million) for blood services.…

• MTN Uganda has appointed Sylvia Mulinge of Safaricom as its CEO, effective September 1, 2022
• Mulinge currently serves as Safaricom’s Chief Consumer Business Officer
• She has been at Safaricom for 16 years, where she served in different capacities, including General Manager Enterprise Business Unit and Director Consumer Business Unit

Telecommunications company MTN Uganda has appointed Sylvia Mulinge of Safaricom as its CEO, effective September 1, 2022.

Mulinge currently serves as Safaricom’s Chief Consumer Business Officer. She has been at Safaricom for 16 years, where she has served in different capacities. These include General Manager Enterprise Business Unit and Director Consumer Business Unit, before assuming the role of Chief Customer Officer in 2018. In July 2021, she took up the role of Chief Consumer Business Officer.

In a statement, South Africa’s MTN Group announced the appointment, saying she brings on board experience in transforming customers’ lives using technology.

“A seasoned executive, …

• Prostate cancer patients covered by the National Hospital Insurance Fund (NHIF) can now access an innovator prescription drug manufactured and distributed by Janssen Kenya
• The prescription drug, Abiraterone Acetate used for the treatment of advanced prostate cancer will be made available to NHIF members within their existing benefits package
• NHIF Chairperson Lewis Nguyai described the partnership as a landmark development that will help boost the local access to innovator drugs

Prostate cancer patients covered by the National Hospital Insurance Fund (NHIF) can now access an innovator prescription drug manufactured and distributed by Janssen Kenya, one of the pharmaceutical companies of Johnson & Johnson, as part of strategic development to expand access to quality treatment regimes in Kenya.

Following the signing of a joint Memorandum of Understanding (MoU) between NHIF and Johnson & Johnson Middle East FZ-LLC (Janssen Kenya), the prescription drug, Abiraterone Acetate used for the treatment of advanced prostate …

• Absa Bank Kenya partners with Visa to launch a domestic and cross-border remittance service
• The solution will allow seamless person-to-person money transfers and persons-to-businesses payments via the Visa Global network
• Absa debit and credit cardholders can transfer funds from their Visa Card accounts to any overseas or domestic Visa debit, credit, or prepaid cards 

Absa Bank Kenya has partnered with a global payments technology platform Visa to launch a domestic and cross-border remittance service.

The Absa Visa Send Money solution will allow seamless person-to-person money transfers and persons-to-businesses payments via the Visa Global network.

The solution will allow Absa debit and credit cardholders to transfer funds from their Visa Card accounts to any overseas or domestic Visa debit, credit, or prepaid cards via the Hello Money USSD and Absa mobile banking app.

According to the partners, Absa customers will only need to enter the beneficiary’s Visa card details or linked …

• Over 1,600 new African member companies have registered with Dubai Chambers since October 2021, growing by 6.5 per cent to reach 26,420
• Dubai International Chamber has maintained a strong presence in Africa as it operates four representative offices in Kenya, Ethiopia, Mozambique and Ghana
• Expo 2020 Dubai provided an ideal platform to promote Dubai as a preferred hub for African businesses, explore new avenues of economic cooperation and foster cross-border partnerships

A new report has revealed that over 1,600 new African member companies have registered with Dubai Chambers since October 2021, growing by 6.5 per cent to reach 26,420. 

Dubai Chambers, a non-profit organisation, is mandated to support and protect the business community’s interests in Dubai, UAE. It does so by creating a favourable environment, promoting Dubai as an international business hub and supporting business development.

The chambers held its sixth edition of the Global Business Forum Africa (GBF Africa) …

• Moringa has received an undisclosed amount of investment from Proparco to support its expansion outside Kenya
• The tech-based learning institution said it has already begun training Software Engineers in Ghana and soon Nigeria with a plan to scale to other African countries in the next 12 months
• Moringa said the investment from Proparco will help them in preparing for Series A funding in 2023

Multi-disciplinary learning accelerator Moringa has received an undisclosed amount of investment from Proparco to support its expansion outside Kenya.

In a statement seen by The Exchange Africa, the tech-based learning institution said it has already begun training Software Engineers in Ghana and soon Nigeria with a plan to scale to other African countries in the next 12 months.

The career accelerator for Tech professionals in Africa has been training High School/University Graduates to be Software Engineers and Data Scientists for the past seven years in Kenya …

• Kenya’s Ministry of Lands and Physical Planning said that plans to digitise land records are in top gear 
• Lands Cabinet Secretary Farida Karoney said the central land registry dubbed ‘National Land Management System (NLIMS)’ will go live at the end of July 2022
• Karoney said the ministry had already gazetted 84,000 land parcels set to migrate to the portal with 64,000 of them having matured

Kenya’s plan of digitising land records is in top gear, the country’s Ministry of Lands and Physical Planning has said.

Lands Cabinet Secretary Farida Karoney said the central land registry dubbed ‘National Land Management System (NLIMS)’ will go live at the end of July 2022.

Karoney said the ministry had already gazetted 84,000 land parcels set to migrate to the portal with 64,000 of them having matured.

“The law stipulates that we must wait for 90 days to close the register and migrate to the …