Author: David Indeje

The Central Bank of Kenya (CBK) has published a discussion paper on Central Bank Digital Currency (CBDC) inviting comments from the public aimed at ensuring an informed policy review regarding financial sector innovations. The Discussion Paper outlines the evolution of payments globally and in Kenya and discusses recent digital payment methods including electronic money, CBDC, stablecoins and other cryptocurrencies.  In addition, it outlines Kenya’s payment landscape and assesses the potential applicability of CBDC. Further, it highlights the potential opportunities and risks presented by CBDC. “Kenya’s assessment of CBDCs must be focused on potential opportunities and risks. Fundamentally, given the wide-ranging…

South Korean electronics maker Samsung Wednesday unveiled the Galaxy S22 series at its February 2022 unpacked event. The Samsung Galaxy S22 Ultra brings the best of the Galaxy S-series and Galaxy Note-series in one device. Galaxy S22 Ultra supports SPen. The other two smartphones are the Galaxy S22+ and the Galaxy S22 identical in design and features, but different in terms of size of screens and batteries.  Samsung Galaxy S22 Ultra: Specifications Display 6.8-inch QHD+ AMOLED of 120Hz variable refresh rate Spen Yes, built-in cavity for storage, charging Rear camera 108MP wide, 12MP ultra-wide, twin-10MP telephoto Front camera 40MP Battery…

Kenya’s biggest telecoms operator Safaricom and Showmax, an online subscription video-on-demand service have plugged into each other’s subscriber bases in a new partnership announced Tuesday.  From the deal, customers will be able to watch their favourite, wide variety of award-winning TV shows, movies, documentaries, Showmax Originals, kids shows, sport and more for two months of streaming for the price of one. The deal is valid from 1 February to 31 March 2022 and is exclusive to Safaricom customers – postpay and prepaid. Iddah Rasanga, Product Manager Video Safaricom says their mobile market has continued to show remarkable growth over the…

Quickmart Supermarket on Friday opened its first 48th store in Kitengela at OBC Kitengela Mall. The Kitengela outlet is the retailer’s first store to be opened in 2022, and also the first store to be opened in the town. It will now compete with Naivas and Eastmatt who are already established. “The store will feature prominently our fresh sections; deli, bakery, butchery, fresh fruits, vegetables, foods, personal care, homecare, textiles, electronics and household goods,” Quickmart’s marketing director Betty Wamaitha disclosed. Kitengela town is attractive to business because of its positive demographics, with Kajiado County where Kitengela lies currently having a…

Kenya Airways will receive a Ksh 26.6 billion ($176 million) bailout according to supplementary budget for the fiscal year 2021 estimates by the National Treasury presented to Parliament. “The financial support will help Kenya Airways to strengthen its cash flow and speed up the much-needed reforms in the airline, including in its fleet and operations. After successfully implementing these reforms, the airline will be in a better financial position t achieve long term success,” Transport Cabinet Secretary James Macharia said in a circular. “The government’s financial support is contingent on Kenya Airways adhering to agreed reforms, including permanent cost reduction…

Administrators of Cytonn High Yield Solutions and Cytonn Projects Note have called a first meeting of creditors for March 2, 2022, to decide on the way forward. Through a public notice issued via Gazette Notice, the administrator, Kereto Mirima, said the Cytonn real estate project notes investors will receive an update on the administration of the CHYS fund and vote to appoint a committee of inspection. The investors will also “Receive the Administrator’s proposal and make a decision on the said Administrator’s proposal.” Investors in CHYS and CPN meeting will be held on March 4 and March 2022 respectively. The…