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Business
- Kenyan Shilling to Reach Sh138 this month as effects of global rates and heavy rains come alive
- Additionally, the minor decline in the foreign exchange reserves between April and May signals interventions in the forex market by the CBK.
- The CBK is expected to leave rates unchanged at 13 per cent at its June meeting to support these dollar inflows and provide positive yields to investors.
Financial experts are now predicting that the Kenyan shilling will depreciate to Sh138 against the US dollar by the end of June 2024.
The analysist from pan African market insights firm Stears, say that the Kenyan shilling witnessed large swings in May, after appreciating 2.09 per cent between May 2 and 16. This saw the local currency resume a consistent depreciation to close the month at Sh133.37 against the dollar.
Stears notes that although the currency remained relatively unchanged compared to April, on average, …
- At the convergence of technology and marketing, social media platforms have become an imperative tool for businesses
- Recognising your target audience is the foundation of an effective social media strategy.
- Artificial intelligence (AI) has become increasingly imperative in the digital marketing landscape.
Social media marketing
Social media has transformed from a platform for personal connection into a relevant tool for businesses to engage with their audience, build brand awareness, and drive growth. The power of social media in business cannot be underestimated, as it offers a myriad of opportunities for organisations, brands and people to thrive in the competitive landscape.
At the convergence of technology and marketing, social media platforms have become an imperative tool for businesses and organisations to promote their brands and connect with their target audience. With the widespread adoption and ever-changing features, social media has a superior say on digital marketing strategies.
Furthermore, social media marketing …
- Small and medium enterprises have become vital drivers of economic growth in African countries.
- According to the African Development Bank Group, SMEs in Africa represent around 90 per cent of all businesses and contribute up to 33 per cent of Africa’s Gross Domestic Product (GDP).
- Access to capital is one of the biggest obstacles small and medium enterprises face in Africa.
Small and medium enterprises (SMEs) in Africa play a vital role in fostering sustainable development. With 90 per cent of all global businesses falling under the MSME category, these enterprises create employment, foster innovation, and contribute to gross domestic product (GDP) growth.
In recent years, small and medium enterprises have become vital drivers of economic growth in African countries. As the continent undergoes rapid development, these enterprises foster innovation, create jobs, and contribute to economic growth.
Small and medium enterprises form the bedrock of African economies, representing various …
- New data now shows that CIC Asset Management has retained its leading position in unit trusts in Kenya, with a 40.46 per cent market share
- Assets under CIC’s management reached KSh 56.9 billion as of March 2022, which is a 1.14 per cent rise compared to KSh 56.2 billion as of December 2021
- CIC Asset Management Managing Director Stanley Mutuku noted that the economy was on a growth trajectory, which is reflected in the performance
Kenya’s CIC Asset Management has retained its leading position in unit trusts in Kenya, with a 40.46 per cent market share.
Data by the Capital Markets Authority shows that the CIC unit trust scheme market share in the second quarter of 2022 was the largest unit trust scheme in the country.
Assets under CIC’s management reached KSh 56.9 billion as of March 2022, which is a 1.14 per cent rise compared to KSh 56.2 billion …
- KCB Bank Kenya has invested over KSh 120 billion to support Oil Marketing Companies (OMCs) importing fuel as it seeks to consolidate its support to the energy sector
- KCB has been facilitating oil importation into the country by financing the oil firms under its portfolio that have won business under the Open Tender System (OTS) through the Ministry of Petroleum and Mining
- KCB Group CEO Paul Russo said that KCB is a champion of regional trade, extending its services across the border of East Africa and beyond as a catalyst for the energy sector
KCB Bank Kenya has injected over KSh 120 billion to support Oil Marketing Companies (OMCs) importing fuel as it seeks to consolidate its support to the energy sector.
The Bank has been facilitating oil importation into the country by financing the oil firms under its portfolio that have won business under the Open Tender System (OTS) …
Kenya has not been left behind in the growth and development of technology. East Africa’s richest economy stands tall in the development of digital technology. However, a lot needs to be done, and the new administration has enough space to execute its plan regarding the advancement of the Kenyan digital space.…
The remainder of Anglo’s coal assets were demerged from the group and bundled into a new company called Thungela Resources Limited. This strategy in coal mining circles is called “mine to mouth” and is being continued by Seriti. Eskom, South Africa’s power utility, has an agreement where its thermal power stations are fed with coal from the company’s Kriel and New Largo mines. These mines are adjacent to the power stations.
Seriti Resources (the company’s name is from the native Sotho language and means integrity) was formed in 2017. Mike Teke, through his investment vehicle Masimong Holdings Group owns 25% of Seriti Resources.
The remainder of the shares in the energy company is owned by Sandile Zungu’s Zungu Investments Company, Thebe Investments Corporation, and Community Investment Holdings.…
- Persons with Disabilities in Kenya will get connected to jobs more easily following a partnership between Safaricom and the National Council of Persons with Disabilities (NCPWD)
- Safaricom and NCPWD will connect persons with disabilities with job opportunities through Fuzu, an online recruitment portal
- Fuzu, which has been active since November 2020, currently has over 360 employers and over 5,000 job candidates
Kenya’s leading telecommunications company, Safaricom, has partnered with the National Council of Persons with Disabilities (NCPWD) to connect persons with disabilities with job opportunities through an online portal.
In a statement seen by The Exchange Africa, the company said the portal, powered by IT service provider Fuzu, is a first in Africa and seeks to help employers easily identify and recruit Persons with Disabilities into their firms.
Fuzu, which has been active since November 2020, currently has over 360 employers and over 5,000 job candidates.
Safaricom said it has …
According to the EIU graphic, much of the external debt stock of African countries consists of public medium- and long-term borrowings. This form of borrowing has been on the rise since 2000.
Private medium- and long-term debt stock in Africa has also been on the increase but not at the same scale and magnitude as the public debt. In short, governments, through their finance ministries, have been on a borrowing binge since 2000, whereas the private sector has marginally increased its borrowings in United States-denominated debt.
The increased levels of borrowing in hard currency badly expose governments to movements in interest rates and exchange rates. South Africa has the most external debt exposure of any country in Africa, followed by Egypt and Nigeria. With these facts in mind, it is no surprise to how much the Rand, the South African currency unit, has depreciated against the dollar.…
