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…

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…

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…

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 )…

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. (Zolpidem) These include General Manager Enterprise Business Unit and Director…

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…

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…

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…

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…

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…