Vodacom Group has agreed to acquire a 55 per cent shareholding in Vodafone Egypt from two wholly-owned subsidiaries of Vodafone Group, being Vodafone International Holdings and Vodafone Europe for $2.738 billion. Subject to regulatory and shareholder approvals, 80 per cent of the offer consideration will be settled by the issue of new Vodacom Group shares, with the balance being settled in cash. “Acquiring a majority stake in Vodafone Egypt would cement Vodacom Group’s position as Africa’s leading telco by advancing our strategic connectivity and financial services ambitions while increasing our total population coverage on the continent to over half a…
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.
“I want to create a lifestyle that everybody can relate to; comfortable and stylish enough for swimwear. To make all the girls and women feel empowered, beautiful, and confident. ”
Kenya’s fiscal deficit has been revised to an estimated 8.20 per cent from 7.40 per cent of gross domestic product (GDP) in 2021-22, according to the draft Budget Policy Statement (BPS) 2022. Revenue collection is estimated to rise by 18 per cent in the fiscal year 2022/23 equivalent to KSh 2,405 billion from the projected KSh 2,036 billion in 2021/22. “In the FY 2022/23 revenue collection including Appropriation-in-Aid (A.i.A) is projected to increase to Ksh 2,405.3 billion (17.2 per cent of GDP) up from the projected Ksh 2,036.1 billion (16.3 per cent of GDP) in the FY 2021/22. Ordinary revenues will…
Growth prospects and investments for Kenya’s insurance industry will largely be influenced by the ongoing regulatory changes and improve the level of penetration, Cytonn Investments say. The Central bank of Kenya’s September 2021 Financial stability report found out that insurance uptake in the country remains low compared to other key economies with the insurance penetration at 2.3% as at December 2020. This is below the global average of 7.4%, attributable to the fact that insurance is still seen as a luxury and mostly taken when it is necessary or a regulatory requirement. Cytonn Investments however, say that regulatory changes will…
M-Pesa Super App, Safaricom’s digital lifestyle app crossed the 4 million downloads within the first three months of launch (July 2021). Mr Peter Ndegwa, CEO of Safaricom said they have integrated 17 mini-apps and 65 are currently under development with the aim of providing a one-stop solution for their digital consumers. “We aim to become a digital-first, insights-led organization that enables platforms and ecosystem partnerships. Our digital channels have helped us to improve our consumer digital experiences and empower our micro and SMEs who are the backbone of the economy,” Ndegwa said during the HY 2021/2022 Earnings Presentation. The M-Pesa…
Kenya’s current account deficit widened to 5.6 per cent of GDP in the 12 months to September 2021 compared to 5.0 per cent of GDP in the 12 months to September 2020. The Central Bank of Kenya disclosed that this was highly driven by a higher import of goods and services rising oil prices and the continuing recovery of the economy. “The higher deficit was attributed to higher import of goods and services, which more than offset increased receipts from agricultural exports and remittances,” the CBK said. National Treasury said in the first of 2021, the current account deficit expanded…