Swvl has over 1,330 employees and laying off 32% of its workforce means that over 400 people will lose their jobs.
Author: David Indeje
David Indeje
David Indeje is the community engagement editor at Khusoko, a leading digital platform for East African business news. He oversees editorial content, drives audience engagement, and amplifies diverse voices. Indeje also consults on digital strategy for brands in agriculture, governance, technology, and health, while exploring AI’s impact on journalism. In addition, he serves as a communications officer at KICTANet, advancing digital inclusion and policy dialogue.
Kenya’s inflation surged to a new record of 7.1 percent in May as the cost of fuel, food and beverages continue to rise sharply. Tuesday, the Kenya National Bureau of Statistics (KNBS) data showed that the overall year-on-year Inflation rate for May 2022 was 7.1 percent compared to 6.47 percent recorded in April 2022. “The rise in Kenya’s inflation was mainly due to an increase in prices of commodities under; food and non-alcoholic beverages (12.4 percent); furnishings, household equipment and routine household maintenance (7.9 percent); transport (6.4 percent) and housing, water, electricity, gas and other fuels (6.0 percent),” KNBS in…
This is the first interest rates hike by the Central Bank of Kenya’s Monetary Policy Committee since July 2015.
The MPC has maintained the Central Bank Rate (CBR) at 7.00 per cent for the thirteenth consecutive time.
Monkeypox is a viral zoonotic disease that occurs primarily in tropical rainforest areas of Central and West Africa and is occasionally exported to other regions.
Standard Chartered Bank Kenya on Wednesday posted a 16 per cent rise in pretax profit to Ksh 3.93 billion in the first quarter ended 31 March 2022. This was attributed to rising interest income which rose 7 per cent to Ksh 4.92 billion shillings. “Our first quarter performance was strong despite volatile and challenging market conditions. The Bank remains well capitalised and highly liquid with a total capital ratio of 17.62 per cent and a liquidity ratio of 71.56 per cent,” Kariuki Ngari, Chief Executive Officer, said. The lender’s operating expenses were up 9 per cent KSh3.5billion from KSh3.2billion attributed…