Browsing: Kenya

(L to R) Juliet Wanjiru, Head of E-commerce Sky.Garden, Eric Muli, Group CEO Lipa Later Group, and Claudine Gakundi - Country Manager Kenya Lipa Later during the relaunch of Sky.Garden with a new diversified range of products and services including, Sky.Tickets, Sky. Logistics, Sky. Commerce, and Sky.Wallet.
  • Kenya’s online retailer, Sky.Garden has relaunched operations following a $1.6 million buyout by Lipa Later Group. 
  • This move has propelled Sky.Garden will revamp its platform, aiming to onboard 100,000 merchants in 2024.
  • The revamped platform introduces a suite of new products, including Sky.Tickets, Sky.Logistics, Sky.Commerce, and Sky.Wallet.

Sky.Garden, one of Kenya’s online retail platforms, has relaunched operations in East Africa’s most advanced economy following a $1.6 million buyout by the Lipa Later Group.

This strategic move has propelled Sky.Garden will revamp its platform, introducing innovative features and diversified product offerings, to onboard 100,000 merchants by 2024.

During the launch event, Juliet Wanjiru, the Head of e-commerce at Sky.Garden shared the company’s visionary strides, highlighting the platform’s evolution into a comprehensive e-commerce ecosystem transcending conventional online retail. Wanjiru emphasized.

Sky.Garden unveils a new suite of platforms.

“Today marks a significant milestone in the evolution of Sky. As we embark on a …

ESG ESG investment in Kenya
  • Kenya’s SBM Bank has announced its commitment towards increasing its ESG investment in the country.
  • The commitment is aimed at providing sustainable financing for projects that will allow access to clean, reliable, and affordable energy. 
  • The move follows a partnership between the Bank and Safer Power in renewable energy in Lukenya that will connect Stoni Athi Resort to off-grid solar power.

ESG investments in East Africa’s most advanced economy are expected to increase as SBM Bank deepens its commitment in Kenya’s sustainability drive. The commitment to prioritise financing projects aligning with Environmental, Social and Governance (ESG) is aimed at providing sustainable investments that optimise in the use of clean, reliable, and affordable energy. 

The announcement follows the partnership between the Bank and Safer Power in renewable energy in Lukenya that plans to connect Stoni Athi Resort to off-grid solar power.

“Our focus through this collaboration is to empower businesses within

Kenya at COP28 | President William Ruto
  • President William Ruto will lead Kenya at COP28 to showcase the country’s ambitious climate change strategy and advocate for sustainable development and climate resilience in Africa.
  • Kenya is pioneering clean energy solutions, notably through biodigesters, which convert organic waste into biogas and organic fertilizer, aligning with the nation’s agricultural profile and enhancing energy independence.
  • At COP28, Kenya aims to inspire global action and demonstrate that sustainable development is achievable in emerging economies, contributing significantly to the global climate change dialogue.

As the world convenes in Dubai for COP28, a significant spotlight falls on Kenya. Under President Ruto’s leadership, Kenya goes to this global summit not merely as a participant but as a catalyst for Africa in bridging climate dialogue and action.

At the heart of these discussions lies the country’s ambitious strategy to combat climate change, an approach intrinsically linked to the broader global efforts to mitigate environmental risks and …

African startups

Africa has today emerged as a fertile ground for groundbreaking startups. As 2024 approaches, the continent’s startup scene is buzzing with activity, marked by impressive funding rounds and strategic expansions. This trend is a fleeting moment and a testament to African entrepreneurship’s resilient and dynamic spirit.

The Exchange Africa spotlights five startups thriving and redefining the business landscape in their respective sectors. From renewable energy solutions in the Democratic Republic of Congo to digital health platforms in Kenya, these companies embody the ingenuity and potential of Africa’s business ecosystem. They attract significant investment and are poised to substantially impact their communities.…

US dollar notes used in Money Laundering
  • Economic experts have a bearish forecast on the US dollar, citing that it is  likely to “consistently weaken” throughout 2024 as the US Federal Reserve winds up its aggressive stance.  
  • The prediction comes despite the ongoing big dollar sell off where asset managers are selling the currency at the fastest pace in a year. 
  • This is positive news for emerging and frontier markets, as they can start to see global funds and investors redirect capital back to these markets which have been starved of inflows for months. 

Economic experts are making a bearish forecast against the US dollar, predicting that it is likely to “consistently weaken” throughout 2024 as the US Federal Reserve concludes its aggressive interest rate hiking agenda.

Nigel Green, CEO of the DeVere Group, states that this prediction persists despite the ongoing significant dollar sell-off, where asset managers are selling the currency at the fastest …

EAC COP 28 Climate Summit | Kenya at COP28
  • The East African Community (EAC) will approach the upcoming COP 28 Climate Summit, to be held in Dubai from November 30th to December 12th, 2023, as one bloc.
  • No country should have to choose between its development aspirations and climate change mitigation; there is a need for complementarity as opposed to competition among Partner States.
  • The move comes as the continent faces the most severe challenges, including the ongoing El-Nino floods and drought that have caused havoc due to climate change.

The East African Community has revealed its intention to present a united front at the upcoming COP 28 Climate Summit scheduled to take place in Dubai, the United Arab Emirates, from November 30th to December 12th, 2023.

Addressing participants at the EAC High-Level Forum on Climate Change and Food Security in Arusha, Tanzania, EAC Secretary-General Peter Mathuki emphasized the significance of the EAC having a unified stance as it …

African Securities Exchanges Association
  • Nairobi, Kenya, will be the site of the highly anticipated Annual Conference of the African Securities Exchanges Association (ASEA) from November 22nd to 24th, 2023. 
  • The African Securities Exchanges Association has played a pivotal role in moulding Africa’s financial scene.
  • A partnership of financial firms, the African Securities Exchanges Association is a key player in Africa’s economic revival. Its ability to promote inclusive growth, knowledge sharing, and cooperation is crucial.

Nairobi, Kenya, will be the site of the highly anticipated Annual Conference of the African Securities Exchanges Association (ASEA) from November 22nd to 24th, 2023, drawing the attention of the financial community of Africa. Positioning for Growth: Unlocking Africa’s Stock Exchange Potential for Sustained Economic Development is more than simply a debate topic; it’s a rallying cry for an economic revolution that is about to happen on the African continent.

The African Securities Exchanges Conglomerate (ASEA) has played a pivotal

The World Bank IMF
  • World Bank foresees $12 billion in support for Kenya between 2023 and 2026.
  • This financing is subject to approval as East Africa’s economic powerhouse continues to depend on borrowing to bridge budget gaps in the wake of high recurrent expenditures and revenue shortfalls.
  • The World Bank said it is fully committed to support Kenya in its journey to become an upper-middle-income country by 2030.

Kenya stands to benefit from up to $12 billion in financing from the World Bank over the next three years, as indicated by the global lender, ensuring continued support for the debt-saddled country.

This is subject to approval, the World Bank noted on Monday, as East Africa’s economic powerhouse continues to depend on borrowing to bridge budget gaps in the wake of high recurrent expenditures and revenue shortfalls. The World Bank stated that it is fully committed to supporting Kenya in its journey to become an…

Equity Group
  • Equity Group anticipates regulatory changes, currency fluctuations, and the broader economic repercussions of global events as obstacles in the future.
  • However, the regional lender looks well-positioned to overcome these obstacles due to its robust capital base, diversified business model, and continuous digital transformation.
  • Analysis shows that industry-specific factors, market sentiment, and macroeconomic conditions may be exerting an impact on the stock’s performance.

Amidst the ongoing repercussions of the pandemic and geopolitical unrest on a global scale, Equity Group Kenya, arguably the largest financial institution in East Africa, has exhibited exceptional fortitude and expansion during the three months ending September 30, 2023.

In spite of the tough economic climate characterized by inflationary forces and disruptions in the supply chain, Equity Group has disclosed a consistent upward trend in its fundamental financial indicators. An important growth driver has been the bank’s emphasis on digital innovation and customer-centric services, which have significantly