Industry and Trade

Flight prices in Africa are under debt, stakeholders want airlines operating within the continent to lower fares. Photo/CapitalNews
  • EAC Partner States need to fast-track implementation regulations on the liberalisation of air transport
  • An extra 155,000 jobs and US$1.3 billion in annual GDP would be created if 12 countries opened their skies.
  • Africa has formed the Single African Air Transport Market (SAATM) to spearhead a single unified air transport market to advance the liberalization of civil aviation in Africa.

In the spirit of creating a single market and increased integration of Africa’s 54 nations, stakeholders want airlines operating within the continent to lower fares.

Recent research by the International Air Transport Association (IATA) showed that ‘if just 12 key Africa countries opened their markets and increased connectivity, an extra 155,000 jobs and US$1.3 billion in annual GDP would be created in those countries.’

These are significant figures by any measure and IATA, the trade association for the world's airlines, representing some 260 members, maintains that lowering flight prices in…

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  • Investing in Africa’s music industry offers numerous opportunities for growth and success.
  • Dataxis predicts that Africa’s annual music streaming revenues will grow from US$92.9 million in 2021 to US$314.6 million by 2026.
  • The music industry in Africa faces significant competition from international music markets, particularly from Europe and North America.

The music industry in Africa is a growing and dynamic sector that offers numerous opportunities for investment, growth and success. Despite facing challenges such as intellectual property rights issues, lack of investment and infrastructure, and competition from international music markets, the music industry in Africa is thriving and presents a unique opportunity for investment.

Africa is home to a rich and diverse musical heritage, with music playing an important role in the cultural and social lives of its people. The music industry in Africa encompasses a range of genres including traditional, pop, hip hop, and gospel, and is estimated to …

  • Kenya Power is at the center of electric motorization as it has to ensure adequate and reliable electricity supply to spur the growth of this nascent industry.
  • GIZ is keen to help Kenya develop a framework that will support a coordinated approach toward the implementation of electric motorization in the country.
  • Kenya Power has already announced plans to phase out fossil fuel-powered vehicles and motorbikes from its fleet in favour of electric-powered ones.

Kenya’s ambitious goal to expand the Electric Vehicles (EVs) market has received backing from the Germany government, in what could help the East African nation fast-track adoption of the environmentally friendly units.

More than 300 experts drawn from the energy, finance, and transport sectors, as well as county governments, development partners, and the private sector will meet in Nairobi for an e-mobility conference scheduled for February 7-8. The forum will focus on the road map for electric …

  • KAMP has elected Angela Ndambuki as its first female chairperson in its history a day after the government denied license to the Music Copyright Society of Kenya. 
  • The collective management organization (CMO) also elected four more women to its board out of the seven board members, the highest representation of women in the collective management history. 
  • The new chairperson said the board has agreed to engage stakeholders and policymakers to lobby against the attempts by the regulator to capture CMO through illegitimate and retrogressive legislation.

The body representing Kenyan record labels, The Kenya Association of Music Producers (KAMP) has elected Angela Ndambuki as its first female chairperson in its history a day after the government denied license to the Music Copyright Society of Kenya. 

The collective management organization (CMO) also elected four more women to its board out of the seven board members, the highest representation of women in the

  • General Insurance business paid claims worth $430 million (Sh53.25 billion) between July – September, a 13.4 precent increase compared to $379 million (Sh46.97 billion) paid in the same period last year. 
  • Medical, motor private and motor commercial had the highest amounts of paid claims at 44.5 percent. 
  • The insurers reported claims incurred amounting to $459 million (Sh56.85 billion during the period under review. 

Kenya’s General Insurance Business paid claims worth $430 million (Sh53.25 billion) between July and September, a 13.4 precent increase compared to $379 million (Sh46.97) billion paid in the same period last year.

The Insurance Regulatory Authority (IRA) Quarter 3 statistics report indicate that medical, motor private and motor commercial had the highest amounts of paid claims at 44.5 percent (Sh23.67 billion), 24.6 percent (Sh13.12 billion) and 21.5 percent (Sh11.43 billion) respectively jointly constituting 90.6 percent of all claims paid by general insurers.

The insurers reported claims incurred …

  • Sasini PLC has posted 149 percent increase in net profit for the year ended 30th September 2022 to hit $8.8 million (Sh1.1 billion) compared to $4.6 million (Sh573 million) posted in the same period previous year.
  • The profits are attributed to most of the business units performing exceptionally well as the main segments of Tea, Coffee and Macadamia trading surpassed expectations. 
  • The cost of sales, however,  increased to $44 million (Sh5.54 billion) against the prior year’s $36.2  million (Sh4.49 billion) a corresponding increase of 23.3 percent. 

Sasini PLC has posted a 149 percent increase in net profit for the year ended 30th September 2022 to hit $8.8 million (Sh1.1 billion) compared to $4.6 million (Sh573 million) posted in the same period previous year. 

The profits are attributed to most of the business units performing exceptionally well as the main segments of Tea, Coffee and Macadamia trading surpassed expectations. 

The year

  • Kenyans trust friends and personal recommendations more than influencers when making purchasing decisions according to a new study by RedBrick Africa. 
  • 83 percent of Kenyans would buy something recommended online by someone they know personally, higher than 59 percent of Kenyans who would buy a product recommended by an influencer.
  • While influencers are a key component of any marketing strategy, they are not to be utilized in isolation. 

Kenyans trust friends and personal recommendations more than influencers when making purchasing decisions according to a new study by RedBrick Africa. 

The study released last month indicates that 83 percent of Kenyans would buy something recommended online by someone they know personally, higher than 59 percent of Kenyans who would buy a product recommended by a social media influencer. 

The research raises concerns over the use of social media Influencers by brands. Latest data Indicates that In 2019, companies around the world

  • Africa has always been seen as a continent with untapped potential in the gaming industry.
  • The continent is a rapidly growing market in the global gaming industry driven by the growing availability of affordable mobile devices.
  • Africa’s gaming market is poised for growth, and businesses that are able to capitalize on this opportunity will be very successful.

Africa is one of the fastest-growing regions in the world, and the gaming market is no exception. The continent is home to a large population of gamers many of whom are looking for new and exciting gaming experiences.

Africa is a rapidly growing market in the global gaming industry. According to a 2020 report by NewZoo, Africa is the fifth-largest gaming market in the world, with a total gaming revenue of approximately US$3.3 billion in 2020. In addition to the growth in revenue, the number of gamers in Africa is also expected to …

  • Kenya’s Insurance industry premiums increased by 11.4 percent to hit $2.379 billion in the third quarter of (Q3) 2022 from $2.13 billion in Q3 2021
  • The growth is attributed to the continued economic recovery from the negative effect of COVID-19 in 2020 and 2021.
  • Long term insurance business premiums stood at $1.0349 billion accounting for 43.5 percent of the total industry premium while general business premiums amounted to $1.34 billion (56.5 percent).

Kenya’s Insurance industry premiums increased by 11.4 percent to hit Ksh 293 billion ($2.379b) in the third quarter of (Q3) 2022 from Ksh 263 billion ($2.13b) in Q3 2021, latest data from the Insurance Regulatory Authority (IRA)) indicates. 

The insurance industry report for the period July – September 2022 attributes the growth to the continued economic recovery from the negative effect of COVID-19 in 2020 and 2021.

Long term insurance business premiums stood at $1.0349 billion  accounting