In the first six months of the year, Kenya’s food imports had increased to sh103.34 billion. The figures collected by the Kenya Revenue Authority (KRA) showed that the food imports were sh12.35 billion more than the amount spent in the same period in 2020.

According to data from the national treasury, import expenditure increased by 29 per cent in the third quarter of 2021. China is the most significant contributor of Kenyan imports accounting for 31.6 per cent of the total bill from the Asian continent.

This is the fastest growth in the food import bill since a 60 per cent jump recorded in 2016 when the bill stood at sh82.83 billion. The exponential increase has been linked to the growing popularity of digital trading, allowing retailers and consumers to order and ship food and other commodities directly.

Commuter and freight motorbike operators are seeing massive changes to their bottom line due to the energy efficiency of electric bikes.

According to Kenya Broadcasting Corporation news, there are over 27 million users of motorcycles in the country.

Rishi Kohli, the CEO and co-founder of Fika Mobility, says that the electric bikes will save the Boda Boda riders an estimate of US$700 used in maintenance and petrol costs a year.

President Muhammadu Buhari said in an interview with Sun Nigeria that he was discontented with electricity in Nigeria.

The All Electricity Consumers Protection Forum expressed the same discontent with the power sector and pointed the slow progress in the power sector to the Nigerian Electricity Regulatory Commission (NERC).

The forum has advised President Buhari to do away with the power regulator in the country, NERC, and move the responsibilities to the Federal Competition and Consumer Protection Commission (FCCPC).

Bolt receives its largest-ever funding round, amounting to €628 million (US$716 million) to fast-track the…

Airtel Network Kenya, the second biggest telecommunications network, saw shareholder loans from its holding firm, Bharti Airtel Kenya BV, rise by 12.01 per cent from sh46.6 million in 2020 to sh52.2 million in the year ending December 2020.

The causes of the financial losses have been additional lending, forex losses as the shilling depreciate, and postponement in paying interests.
Capitalization interest due to being paid stands at Sh1.34 billion, which has disrupted cash flow in the firm.

Airtel Kenya said that the issued shareholder funds, revenue generated from its operations, and borrowing from external lenders had kept the company afloat.

Backed up by the capital firm YC, Jabu Technologies has raised $3.2 million in seed funding to invest in its B2B e-commerce and retail operations.
Afore Capital spearheads the seed round with Y Combinator, Quiet Capital, FJ Labs, Pareto Capital, Kli Capital, and angel investors.
The chief executive of JABU, David Akinin, founded the company in 2020 to revamp the poor and almost non-existent distribution network and supply chain in Namibia.