Author: David Indeje

KCB Group won’t expand further in Tanzania after failing to get the final regulatory approval to acquire Atlas Mara’s unit in Tanzania, African Banking Corporation Tanzania Ltd (BancABC). According to the lender, “…certain regulatory approvals have not been received within the prescribed timeframe specified in the Agreement”. “As a result, the Agreement has been terminated and accordingly, the parties will not proceed to complete the Transaction,” the lender said in a statement. KCB says it will continue to explore and pursue attractive regional expansion opportunities aimed at enhancing its regional participation in line with its expansion and growth strategy. The…

Kenya’s annual inflation eased to 5.8 per cent in November from the previous month’s 6.4 per cent, helped by lower increases in the cost of food and non-alcoholic beverages, government data showed on Tuesday. This is the lowest rate of the Consumer Price Index, seven months since April when inflation stood at 5.76 per cent. “This was mainly due to an increase in prices of commodities under food and non-alcoholic beverages (9.92%); transport (8.14%); and housing, water, electricity, gas and other fuels (6.24%) between November 2020 and November 2021,” the Kenya National Bureau of Statistics said. The overall Consumer Price Index…

Twitter Inc. on Tuesday said users will no longer be able to share private media, such as photos and videos, of another person without their consent. The social media platform said this is aimed at improving privacy and security stating that “There are growing concerns about the misuse of media and information that is not available elsewhere online as a tool to harass, intimidate, and reveal the identities of individuals.” “Sharing personal media, such as images or videos, can potentially violate a person’s privacy, and may lead to emotional or physical harm,” Twitter said in a blog post.  “The misuse…

Kenya is expected to grow at 6.4 per cent in 2021 but economic growth could decelerate next year to 6.0 per cent, according to the Central Bank. The forecast is higher than the 6.1 per cent growth for this year and 5.6 per cent in 2022 projected in September. “We have used this new quarterly data, leading economic indicators and other information that we have and our projection for 2021, the annual is 6.4 per cent and six per cent in 2022,” Dr Patrick Njoroge said during a virtual media briefing post MPC meeting held Monday. However, the CBK said…

Twitter co-founder Jack Dorsey will step down as CEO of the social media platform, the company announced. He will be succeeded by Twitter’s current Chief Technology Officer Parag Agrawal. Dorsey will remain a member of the Board until his term expires at the 2022 meeting of stockholders. “I’ve decided to leave Twitter because I believe the company is ready to move on from its founders. My trust in Parag as Twitter’s CEO is deep. His work over the past 10 years has been transformational. I’m deeply grateful for his skill, heart, and soul. It’s his time to lead,” said Dorsey.…

Safaricom Youth Orchestra staged the end of term concert on Sunday afternoon that featured classical music, Christmas songs to usher in the holiday spirit. They also featured the Safaricom fun fare song in celebration of 21 years of Safaricom.  This was the first physical concert in 2 years. “We continue to support young talent, especially in the creative industry to give them a platform, opportunities to transform their lives and go beyond to achieve their dreams,” Safaricom said. “As we celebrate the great milestones that the Safaricom Youth Orchestra has achieved this year, despite the pandemic year they have managed…