Author: Wanjiku Njugunah

Kenya and Britain have partnered to launch the Nairobi Railways City project, a KSh 30 billion transit-oriented and multi-modal urban Development within the Central Business District of Nairobi  The infrastructure project will integrate the Nairobi Integrated Urban Master Plan, Nairobi Transport Master Plan, and Nairobi Commuter Rail Master Plan Britain has also pledged KSh 11.9 billion to construct office blocks, malls, and light industries within the project, which are meant to decongest the city and create new job opportunities Kenya has partnered with Britain to launch the Nairobi Railways City project, a multi-billion transit-oriented and multi-modal urban Development within the…

More than half of some of the world’s wealthiest individuals are managing their wealth and making changes to their investment strategies, given current economic challenges, including inflation In response to rising global inflation, two-thirds of investors are changing their investment strategies, with some spending less while others have made new decisions around their portfolios  Gold continues to be of high interest, with 2 in 5 saying they have invested as a result of inflation, and there is interest in bonds at a lower 22% to combat inflation A new survey has indicated that more than half of some of the…

African carriers will post a loss of $638 million in 2022 and narrow it to $213 million in 2023, the International Air Transport Association (IATA) has revealed  The African region is expected to serve 86.3% of pre-crisis demand levels with 83.9% of pre-crisis capacity Overall, the report noted that all regions’ financial performance continues to improve since the depth of the pandemic losses seen in 2020 The International Air Transport Association (IATA) has released new data indicating that African airlines will post a loss of $638 million in 2022 and narrow it to $213 million in 2023. The report dubbed…

McKinsey report found that fintech in Africa is the fastest-growing startup industry, raising over US$1.3 billion in 2021 The industry is being supported by several trends, including smartphone ownership, declining internet costs, and a young, fast-growing, and rapidly urbanising population Cash is still used in around 90% of transactions in Africa, which means that fintech revenues have huge potential to grow The top challenges that fintech may face include reaching scale and profitability, navigating an uncertain regulatory environment, managing scarcity, and building robust corporate governance foundations A new finding named fintech in Africa as the fastest-growing startup industry, raising over…

The PMI Survey has found that Kenyan businesses witnessed increased demand for their exports in the international market in November 2022 New order inflows received by Kenyan businesses rose in November, extending the current growth sequence to three months Although marginal in November, the rate of employment growth was the quickest since July 2022, attributable to a rise in new orders Kenyan businesses witnessed increased demand for their exports in the international market in November 2022. This is according to the latest Purchasing Managers’ Index (PMI) commissioned by Stanbic Bank Kenya. The index found that the rise in export orders…

KCB Kenya has entered a deal with the Kenya National Chambers of Commerce and Industries (KNCCI) to offer loans to over 50,000 members of the chambers The two entities entered a three-year strategic partnership, opening a credit line for Small and Medium-Sized Enterprises (SMEs) across the country Beyond the credit line, members of the KNCCI will also access non-financial solutions, including advisory, networking opportunities and training KCB Kenya has entered a deal with the Kenya National Chambers of Commerce and Industries (KNCCI) to accelerate access to loans to over 50,000 members, mostly small and medium-sized enterprises (SMEs). The two entities…

The Kenya Shilling depreciated by 0.9% against the US Dollar to close the month of November at KSh 122.4, from KSh 121.3 recorded at the end of October 2022 A Cytonn Investments report has partly attributed the depreciation to increased dollar demand from importers, especially oil and energy sectors, against a slower supply of hard currency The report said it expects the Kenya shilling to remain under pressure for the rest of the year owing to several factors, such as rising oil prices The Kenya Shilling depreciated by 0.9% against the US Dollar to close the month of November at…

A new report by Kaspersky has revealed that from January to September 2022, computers in the industrial control systems (ICS) environment were attacked using multiple means Most attacks on ICS infrastructure came from the Internet, followed by attacks made through email clients Companies or organizations should conduct regular security assessments of OT systems to identify and eliminate possible cyber security issues A new report by Kaspersky has revealed that from January to September 2022, computers in the industrial control systems (ICS) environment were attacked using multiple means. In the Middle East, Turkey and Africa region, malicious objects were blocked on…

Safaricom Ethiopia Service Revenue for the first month of operations was KSh 9.1 million, while Total Revenue, including handsets sales, was KSh 98. (Xanax) 3 million Safaricom Kenya delivered a solid set of results despite the prevailing macroeconomic challenges leading to a tough operating environment in Kenya and elevated pressure on consumer spending In Kenya, voice service revenue dropped by 3.8% to KSh 39.88 Billion; Mobile Data revenue grew by 11.3% to KSh 26.30 Billion, while M-PESA revenue grew by 8.7% to KSh 56.86 Billion Safaricom has registered its first revenue from its Ethiopia operations in its first reporting cycle…

Logistics company Sendy says it has received funding of an undisclosed amount to help scale its logistics and fulfillment services in Kenya, Uganda, Nigeria, and Cote d’Ivoire Sendy said it had received funding from MOL PLUS, which is the Corporate Venture Capital of Mitsui O.S.K. Lines Sendy provides the easiest way for businesses of any size to move goods, enabling them to drive more efficiency and growth Sendy says it has received funding of an undisclosed amount to help scale its logistics and fulfillment services in Kenya, Uganda, Nigeria, and Cote d’Ivoire. On November 9, 2022, the logistics company said…