Author: Wanjiku Njugunah

The trade mission, which brings together Kenyan and DRC investors and entrepreneurs, will be held in four of DRC’s biggest cities that is, Kinshasa, Lubumbashi, Goma, and Mbuji Mayi.
SMEs will have an opportunity to explore opportunities in DRC through business forums and panel discussions moderated by experts in various fields, site visits to various businesses and locations of interest, networking sessions, and trade exhibitions that will allow businesses to showcase their products and services.
Speaking during the official opening ceremony, Bazaiba expressed delight in seeing two sovereign States from the East and Central Africa region championing the growth and integration of Africa through trade and investment.…

• Faulu Bank has entered into a mutual partnership with the Non-Governmental Organization (NGO) Council
• The partnership will enable the partners to mobilize affordable deposits, as well as grow its Non-Funded Income (NFI) Line
• The council will support the bank by ensuring that it partners with as many NGOs as possible and onboard them to get a product customized for NGOs, CBOs, and Churches

Kenya’s Faulu Bank has entered into a mutual partnership with the Non-Governmental Organization (NGO) Council, in a bid to mobilize affordable deposits, as well as grow its Non-Funded Income (NFI) Line.

Through pursuing partnerships such as this, the lender is banking on a long term and sustainable strategies that will ensure the growth of its Current and Savings Account (CASA) and NFI line.

Commenting during the ratification ceremony held in Nairobi, Faulu Bank CEO Apollo Njoroge said, “Signing of this Memorandum of Understanding today will offer us …

Business activity in Kenya in November expanded at the fastest rate in 10 months following the lifting of the 10 pm to 4 am curfew.

This is according to a survey conducted by Stanbic Bank which reveals that domestic demand increased rapidly in response to the lifting of the curfew, with the main beneficiaries being firms in services, trade and construction.

As such, firms enjoyed a sharp increase in demand through the lifting of curfew measures.

The Purchasing Managers’ Index also noted that there was a solid and accelerated upturn in output levels across the Kenyan private sector economy in November.

Respondents of the survey said that the lifting of the national curfew had led to increased economic activity and customer demand.

However, some firms continued to report cash flow problems.

The survey also noted that the pace of output growth was the fastest seen since May, driven by expansions …

• Kenya’s Mavuno Link has been picked as the Middle East and Africa Regional Winner of the 2021 Call for Code Global Challenge
• The digital company helps tackle food waste and reduce the 5.2million tonnes of food lost every 12 months in the country
• Now in its fourth year, Call for Code has generated more than twenty thousand solutions built using a combination of open source-powered software such as Red Hat OpenShift and IBM Cloud

 IBM and David Clark Cause have named Kenya’s Mavuno Link as the Middle East and Africa Regional Winner of the 2021 Call for Code Global Challenge.

Developed in Nairobi, Kenya, the Mavuno Link application helps tackle food waste and reduce the 5.2million tonnes of food lost every 12 months in the country.

The application also connects farmers, drivers and buyers on a common platform and aims to lessen the amount of food lost after harvest by …

• Mastercard is collaborating with Meta to support the digitization and growth of SMEs across the MEA region
• The firm says it will be is organizing a training webinar that will provide SMEs insights from industry experts
• Access to credit, data, training and digital tools are among the key challenges for SMEs, further compounded by infrastructure limitations and power supply interruptions in some MEA markets

Global technology company Mastercard has announced that it is collaborating with Meta to support the digitization and growth of SMEs across the MEA region. 

In a statement, the firm says it will be is organizing a training webinar that will provide SMEs insights from industry experts, and a masterclass on how to manage uncertainty from renowned author and academic Nathan Furr, Associate Professor of Strategy at INSEAD.

The event takes place on Wednesday, 8 December at 13.00 East Africa Time.  

The collaboration comes at a …

• EY Kenya expects the Kenyan economy to rebound and grow by 5 per cent in 2022
• The country is currently in the throes of elections, drought and the negative effects of the COVID-19 pandemic
• The growth will be achieved at the back of various intervention measures rolled out in fighting the COVID-19 pandemic

Global Audit firm, EY Kenya said it expects the Kenyan economy to rebound and grow by 5 per cent in 2022.

Though the country is currently in the throes of elections, drought and the negative effects of the COVID-19 pandemic,  EY Kenya said that the fundamentals should position the country to defy negative growth patterns as earlier projected.

The firm said that the growth will be achieved at the back of various intervention measures that have been rolled out by the government in fighting the covid 19 pandemic.

“Kenya appears to have weathered this pandemic and the …

• Kenyan investors amount to 30 per cent of investors on the island.
• Zanzibar has seen a strong development as a highly attractive tourism destination with growth rates of 15 per cent and above each year.
• Kenyan investors seeking to expand their investment portfolios can buy projects in Fumba Town and The Soul in Zanzibar.

Kenya investors have turned to Zanzibar as a new investment destination following the opening up of the island’s economy to foreign investors.

According to a German real estate firm CPS, Kenyan investors amount to 30 per cent of investors betting on the island.

“We are seeing a lot of interest from Kenyans who want to invest in the island, Kenya is currently the third-largest investor after Tanzanian locals in first place followed by UAE,” said Sebastian Dietzold, Chief Executive CPS.

The firm set up operations in the Kenyan market, to offer investment opportunities for real estate …

• World Health Organization (WHO) has urged countries to follow science and the International Health Regulations (2005) instead of imposing flight bans on southern African nations due to concerns over the new Omicron variant
• WHO said travel restrictions might play a role in slightly reducing the spread of COVID-19 but place a heavy burden on lives and livelihoods

As a growing number of countries impose flight bans on southern African nations due to concerns over the new Omicron variant, World Health Organization (WHO) urges countries to follow science and the International Health Regulations (2005).

In a statement, WHO said travel restrictions might play a role in slightly reducing the spread of COVID-19 but place a heavy burden on lives and livelihoods.

If restrictions are implemented, they should not be unnecessarily invasive or intrusive and should be scientifically based, according to the International Health Regulations, a legally binding instrument of international law …

• Zamara Group, has entered into a Memorandum of Understanding with the Kenya National Federation of Jua Kali Associations
• The deal is aimed at driving financial inclusion to the informal sector to enable saving, protection from old age poverty and pertinent risks that come along with the life cycle of the average Jua Kali worker
• The two parties have come to an agreement seeking for ways to continue with the existing framework aimed at the protection of the sector’s members

Financial services provider Zamara Group has entered into a Memorandum of Understanding with the Kenya National Federation of Jua Kali Associations (KNFJKA) aimed at driving financial inclusion to the informal sector to enable saving, protection from old age poverty and pertinent risks that come along with the life cycle of the average Jua Kali worker.

The two parties have come to an agreement seeking ways to continue with the existing framework …

• Demand for electricity in Kenya has reached a new record this week rising to a peak of 2,036MW
• The country recorded a new energy gross demand peak of 36,381MWh mostly drawn from renewable energy sources

The demand for electricity in Kenya hit a new record this week rising to a peak of 2,036MW, the highest ever recorded in history, marking a significant resurgence in demand since the onset of the COVID-19 pandemic in March 2020.

At the same time, the country recorded a new energy gross demand peak of 36,381MWh mostly drawn from renewable energy sources as the economy responds positively to the lifting of some of the COVID-19 related restrictions.

National energy generator, Kenya Electricity Generating Company (KenGen), contributed to the largest jump in renewable energy share with the company scaling up production in its geothermal, hydro and wind power stations to meet the growing demand.

According to a …