Author: David Indeje

Family Bank limited Wednesday listed its corporate bond on the Nairobi Securities Exchange aimed at raising more capital to implement its 2020 – 2024 strategic plan and growth plans. The lender’s first tranche of its Medium Term Note under the Fixed Income Market Segment at the NSE raised KSh4.42 billion against a KSh3 billion target, marking a subscription of 147.3 per cent.  “The capital raised will definitely strengthen our business position and competitiveness as we seek to strengthen our capital base to support future balance sheet growth and onward lending to MSMEs and also anchor our next phase of investments…

Kenya consumer prices rose by more than expected in June as fuel goods and services costs surged during the month, the statistics body said Wednesday.   Data by the Kenya National Bureau of Statistics (KNBS) showed an overall rate of inflation in June at 6.32 per cent, compared to the 5.87 per cent recorded in May. This was a 16 month high similar to February 2021. “The increase was mainly driven by rise in prices for commodities under: food and non-alcoholic beverages; housing, water, electricity, gas and other fuels; and transport between June 2020 and June 2021,” said Macdonald G. Obudho,…

Kenya aims to vaccinate 26 million of every eligible citizen by the end of June 2022 and make the state free from COVID-19, said President Uhuru Kenyatta. He was speaking Tuesday during his Sixteenth Presidential Address on Covid-19. According to the Head of State, the initial plan was to vaccinate 10 million adults by June 2022.  “We will vaccinate the entire adult population of 26 million Kenyans by 2022. In fact, by Christmas this year, we intend to have vaccinated over 10 million adults. According to our experts, we will have built a capacity to vaccinate 150,000 people every day…

Nairobi, Kenya’s capital improved 47 places to become the world’s 145th most expensive city in 2021, according to a Mercer Cost of Living report. This is the first drop in three years. This was the best position in seven years for Nairobi, which had last year ranked 95 out of the 209 cities surveyed. “The latest data show few significant price variances resulting from the pandemic as various measures were adopted by governments worldwide, such as lowering or refraining from collecting VAT for a period of time,” said the report. https://khusoko.com/2021/04/20/kenyas-capital-nairobi-ranks-high-for-innovation-in-africa/ Mercer’s ranking is based on changes of more than…

Five Kenyan coffee brokers have been licenced by the Capital Markets Authority to trade coffee at the Nairobi Coffee Exchange (NCE) with effect from 1 July 2021. The five are: Meru County Coffee Marketing Agency Limited has been granted a full coffee broker license while other applicants; Kipkelion Brokerage Company Limited, Murang’a County Coffee Dealers Company, Mt. Elgon Coffee Marketing Agency Limited and United Eastern Kenya Coffee Marketing Company Limited have been granted conditional licences, with the requirement to comply with the Coffee Exchange Regulations within the next three months. The Nairobi Coffee Exchange is mandated to manage the coffee…

NCBA Bank Managing Director John Gachora and Family Bank Chief Executive Officer Rebecca Mbithi were elected Chairperson and Vice-Chairperson of the Kenya Bankers Association (KBA) for the period 2021 to 2022. Mr Gachora, who previously served as Vice-Chairperson, takes over from Mr Joshua Oigara, who chaired the KBA Governing Council for the past three years. KBA Chief Executive Officer Dr. Habil Olaka welcomed the new leadership and thanked Mr. Oigara for his service over the years. Dr. Olaka also welcomed Caritas Microfinance Bank, which joined the Association in 2020. “We are confident the bank will contribute to our long-term vision…