Author: Wanjiku Njugunah

As previously noted by Afrobarometer, most citizens in at least 18 countries said things had worsened between 2019 and 2020.

Those sampled said their governments were doing too little to control corruption, with most saying they would risk retaliation should they get involved in reporting the vice. The report found that on average, across 18 countries, six in 10 Africans (59%) say that corruption increased in their country during the previous year, including 41% who say it increased.

Perceptions that corruption is getting worse are most widespread in Gabon (82%), Lesotho (79%), and Mali (74%), as well as in Namibia (74%) — even though survey fieldwork in Namibia was completed before the #Fishrot corruption scheme was exposed in November 2019.…

While receiving the first batch of 25 FUSO Canter buses by Simba Corporation, MetroTrans Chief Executive Officer Oscar Rosanna noted that the move would allow them to ease the increasing demand for buses on their existing routes.

It would also help them serve their customers better by offering cashless payments. The digital offering will be supported and enabled by the technology company SWVL which allows users to make and track bookings through the SWVL app.

The CEO added that they would also add another 55 buses by the end of the year that will be used to gain footing in older routes, and they seek to join new routes.…

• KCB Group has reported a 54.6 per cent rise in net profit for the quarter ending in March 2022 to hit KSh 9.9 billion
• The rise from KSh 6.4 billion in a similar period last year was boosted by growth in total income and a reduction in loan loss provision
• The bank’s outgoing CEO Joshua Oigara said the business showed sustained resilience backed by its proactive approach toward driving income growth and managing liquidity

Kenya Commercial Bank (KCB Group) has reported a 54.6 per cent rise in net profit for the quarter ending in March 2022 to hit KSh 9.9 billion.

According to the company, the rise from KSh 6.4 billion in a similar period last year was boosted by growth in total income and a reduction in loan loss provision.

During the period, revenues increased by 26 per cent to KSh 29.0 billion on account of an increase in …

• ABSA Bank Kenya has a posted a 22 per cent rise in its profit after tax for the quarter ending in March 31, 2022 
• The bank attributed the performance to improving macroeconomic conditions compared to the same period last year
• The bank added that its investment in new businesses is bearing fruit with bancassurance, asset management and financial markets products contributing significantly to income growth 

Kenya’s Absa Bank has posted a 22 per cent rise in its Profit after Tax to hit KSh 3 billion for the quarter ending 31 March 2022.

In a statement seen by The Exchange Africa, the Kenyan lender said all its business units remained profitable, registering growth on crucial lines in the period.

During the period under review, total income grew by 12 per cent to KSh 9.9 billion, primarily driven by higher net interest income, which went up by 15 per cent year …

• Kenya Commercial Bank (KCB) Group has committed to building on the successes of Joshua Oigara who has left the group after nine and a half years 
• The group’s Chairperson Andrew Kairu Oigara for his service to the Group since joining in 2011 and said he had led the Group through its fastest growth in a decade
• The revealed that the group’s growth ambition is to become the undisputed regional lender

Kenya Commercial Bank (KCB) Group has said it is committed to becoming the undisputed regional lender amid the exit of its long-serving CEO Joshua Oigara.

The group’s chairperson Andrew Kairu commended Oigara for his service to the Group since joining in 2011 and said he had led the Group through its fastest growth in a decade.

“He has left a solid legacy for the Group across Africa and beyond that is dotted by the transformation of millions of lives, enhanced …

• KEMSA said it is on course to collect at least $23.2 million owed by county governments 
• The Kenyan state agency said it was undertaking stakeholder engagement that was focused on a credit management strategy
• Under the deal, the authority said it has set a target of collecting at least KSh 500 million or $4.2 million in outstanding dues from county governments to boost its service delivery capacity

The Kenya Medical Supplies Authority (KEMSA) has announced that it is on course to collect more than KSh 2.7 billion or $23.2 million owed by county governments, months after appealing for settlement of the bills which had run into billions.

On Wednesday, May 25, 2022, the Kenyan state agency said it was undertaking stakeholder engagement that was focused on a credit management strategy.

Under the deal, the authority said it has set a target of collecting at least KSh 500 million or $4.2 …

• Terry Ramadhani has officially taken office as the new Kenya Medical Supplies Authority (KEMSA) Chief Executive Officer

• She takes over from the immediate former Acting Chief Executive Officer, John Kabuchi

• KEMSA’s appointment is part of the reforms that the company started last year following allegations of mismanagement.

The Kenya Medical Supplies Authority (KEMSA) has appointed Terry Ramadhani as its new Chief Executive Officer, months after the state agency began undertaking reforms.

In a statement seen by The Exchange Africa on May 23, 2022, the embattled state agency noted that the professional management services and corporate re-engineering expert has officially taken office after receiving office instruments from the immediate former Acting Chief Executive Officer, John Kabuchi.

The new CEO said she would maintain a consultative management approach and foster partnerships with all stakeholders.

She paid tribute to KEMSA staff, and operating stakeholders for their commitment to ensuring the authority transforms into …

• A report by Cytonn Investments has found that Kenya’s hospitality sector has continued to show resilience in its performance, development, and expansion activities
• The performance has been mainly boosted by the increased international tourist arrivals into the country, conferences, leisure, and sports activities, following the reopening of the country in 2021
• Cytonn noted the overall number of operating hotels and hotel bed occupancies in Kenya has also been increasing

Kenya’s hospitality sector has continued to show resilience in its performance, development, and expansion activities.

According to a weekly report by Cytonn Investments, the performance has been mainly boosted by the increased international tourist arrivals into the country, conferences, leisure, and sports activities following the country’s reopening in 2021.

In the report, Cytonn noted that the overall number of operating hotels and hotel bed occupancies in Kenya has also been increasing.

For instance, in May 2022, Radisson Blu, an international hotel …

• Kenya’s Twiga Foods has launched Twiga Fresh, a new subsidiary that will grow the company’s range of private label products
• The business-to-business e-commerce company said it has invested $10 million into the company, to scale the production of domestic horticultural staples like onions, tomatoes and watermelons 
• Twiga Foods CEO and co-founder Peter Ndegwa said Twiga Fresh will be funded through debt in partnership with Development Financial Institutions in the long term

Twiga Foods has announced the launch of Twiga Fresh, a new subsidiary that is focused on modern and commercial farming, to help supply informal retailers and urban consumers with lower cost, better quality, and safe food.

The Kenyan-based business-to-business e-commerce company said it has invested $10 million into the company, to scale the production of domestic horticultural staples like onions, tomatoes, and watermelons, significantly lowering the cost.

The investment in Kenya will make this one of the largest single …

• A Pan-African crypto exchange dubbed Mara has been launched today and announced $23 million in funding from several investors
• Mara has also announced a partnership with the Central African Republic, which just passed a bill legalising Bitcoin as legal tender
• Mara’s mission is to become the portal to the crypto economy for the African population

Mara, a Pan-African crypto exchange, launched and announced $23 million(KSh 2.7B) in funding from various investors, including Coinbase Ventures, Alameda Research (FTX), and Distributed Global.

Other investors include TQ Ventures, DIGITAL, Nexo, Huobi Ventures, Day One Ventures, Infinite Capital, DAO Jones, and nearly 100 other crypto investors, and angels including Amit Bhatia and Hamad
Alhoimaizi.

In addition, Mara has also announced a partnership with the Central African Republic, which just passed a bill legalising Bitcoin as legal tender.

As part of this partnership, Mara will become the official crypto partner of the Central African Republic …