Browsing: COVID-19 and business

• Bar and restaurant operators in Kenya have pledged to abide by the protocols to limit the spread of Covid-19
• They have also offered to have their establishments become vaccination centres following the reopening of their establishments 

Bar and restaurant operators in Kenya have pledged to abide by the protocols to limit the spread of Covid-19 and offered to have their establishments become vaccination centres following the reopening.

The operators’ associations have also asked revellers to abide by the rules to avoid a resurgence of infections that would force the Government to come up with the restrictions that have hampered operations since March 2020.

“The hospitality sector has gone through one of the darkest periods in the history of Kenya,” said Frank Mbogo, the chairman of the Nairobi branch of the Pubs, Entertainment and Restaurants Association of Kenya.

The operators said the lifting of the curfew by President Uhuru Kenyatta and …

Regional bank Kenya Commercial Bank has doubled its profit after tax for the period ended June 2021.

In a statement, KCB says its profit reached Sh15.3 billion, up from Sh7.6 billion posted during a similar period last year.

During the period under review, revenues increased by 14 percent on account of higher interest income driven by an increase in earning assets and a lower cost of funding.

The Group’s total income increased by 13.7 percent to Sh51.2 billion during the period, with net interest income going up by 17.7 percent to Sh36.6 billion from Sh31.1 billion last year.

This was on the back of higher interest-earning assets and effective management of the cost of funding during the period.

The Group’s assets stood at Sh1.02 trillion, up from Sh953 billion reported in the first half of 2020.

Commenting on the performance, KCB Group CEO Joshua Oigara said the bank’s resilient and …

Economic activities in Ghana are expected to strengthen faster after the rollout of Covid-19 vaccines, experts have said.

Boost confidence

Speaking in an exclusive interview with one of the leading local dailies, economic analysts noted that vaccinating people would boost the confidence of businesses and consumers.

This, according to them, will enable people to carry out their activities as they explore new business avenues for a faster recovery of the economy.

Professor Peter Quartey and Dr Said Boakye while giving their insights argued that Covid-19 vaccines rollout would also boost the confidence of business partners abroad to open up or increase trade to the country.

The government, the experts say, should set economic growth for this year to between 4.5 and five per cent on the back of the positive impact of the vaccine rollout on gross domestic product (GDP) growth.

They were giving their insights on the impact of …

The outbreak of COVID19 has turned the world as we knew it into a bizarre nightmare that we cannot awaken from.

From governments to businesses and people, the impact of the coronavirus (COVID-19) is being felt by all around the world. In the weeks following the announcement that the novel Corona virus was indiscriminately attacking the old and the young, the rich and the poor, nations put measures in place to keep the virus at bay.

Across the world, while the number of coronavirus cases is slowing in China, elsewhere, cases are spilling over even as governments employ measures to navigate the complicated terrain. Thousands of people have lost employment leading to reduced or no income to survive on during the lockdown.

In addition to social distancing, limited travelling within and between towns, economies and governments in East Africa have encouraged moving away from cash and adopting digital payments. This …