Author: David Indeje

“The moment I played it I think even the instrument became happy because it was not bored again. When I hear it from someone else playing or when I play it, it takes me to another world a world that is stress-free you can’t think of any other thing, but music only and when you think of music, you think of happiness,” Cyndicate Kabei, French Horn player. Sunday afternoon, my house reverberated with melodies, from work from home, Colonel Bogey March”, a British march that was composed in 1914 by Lieutenant F. J. Ricketts (1881–1945), moon river to the 1812…

Safaricom Plc through a consortium with its parent firms Vodafone and Vodacom, British development finance agency CDC Group and Japan’s Sumitomo Corporation has made a formal bid to get a licence to operate in Ethiopia. “The ECA has indicated that proposals from interested bidders must be submitted by 26th April 2021, and the successful bidders will be announced within thirty (30) days (subject to timings subsequently advised by the ECA),” said Safaricom on Monday. The deadline for submitting bids is set for Monday 26th April 2021, and according to the Ethiopian Communications Authority (ECA), successful bidders will be announced within…

Kenya Electricity Generating Company PLC (KenGen), will reward its shareholders with Kshs.1.98 billion in dividends. This follows the approval by shareholders of the Board’s recommendation for a first and final dividend payment of Kshs 0.30 per ordinary share of Kshs 2.50 during the Company’s 68th Annual General Meeting (AGM). The dividend payout for the year ended June 2020 is an increase from the Kshs 1.65 billion paid to the shareholders in 2019. During the year ended June 2020, KenGen announced a Kshs.13.9 Billion profit before tax which translated into 18% growth from the previous financial year during which the company…

The Mombasa Tea Auction will operate for five days a week aimed at enhancing its capacity to handle all tea produced in the country and the region. This will come into effect once the auction regulations are enacted as stipulated in the Tea Act 2020. According to The Crops (Tea Industry) Regulations, 2020, the sale of tea to the export market is exclusively through an electronic auction process. Section 36 of the Auction Process: (3) An auction organizer shall establish an electronic trading platform for the auction of tea that will be usable and accessible to all players in the…

The outlook for Nairobi Commercial Office remains negative with continued oversupply and decline in occupancy rates and yields, according to a report by Cytonn Real Estate. “This is attributed to the reduced demand for commercial spaces brought about by the COVID-19 pandemic amid the tough economic environment as some firms downsize due to financial constraints while others embrace the working from home concept,” Cytonn Real Estate says in its Commercial Office Report 2020. According to the report, asking prices and rents have continued to decline as landlords endure giving discounts and concessions to attract and retain clients.  Asa result, the…

Kenya National Treasury has re-opened its 15-year issue and a new 25-year bond seeking to raise Ksh 30 billion from the domestic market for budgetary support. The 15-year bond (FXD2/2019/15)  has an estimated 13 years maturity is priced at 12.734 per cent (coupon rate) while the new bond FXD1/2021/25  will be market-determined It is currently trading at a yield of 12.8 per cent in the secondary market, ‘as such, we recommend a bidding range of 12.5 per cent-12.7 per cent” according to Cytonn Investments analysts. “Bonds with similar tenor are currently trading at a yield of 12.8 per cent –…