Author: David Indeje

Pfizer Inc and German partner BioNTech Monday said its experimental Covid-19 vaccine has been found to be 90% effective. They are the first drugmakers to show successful data from a large-scale clinical trial of a coronavirus vaccine with no serious safety concerns being found. The Phase 3 clinical trial of BNT162b2 began on July 27 and has enrolled 43,538 participants to date, 38,955 of whom have received a second dose of the vaccine candidate as of November 8, 2020. “We’re in a position potentially to be able to offer some hope,” Dr. Bill Gruber, Pfizer’s senior vice president of clinical…

Nigeria’s biggest lender Access Bank Plc Monday launched its operations in Kenya with the rebrand of Transnational Bank following its 100 percent acquisition. David Aluko, a Nigerian citizen was named Country Managing Director, Access Bank Kenya. Access bank currently has 28 branches throughout Kenya and plans to open new branches in Kiambu, Nyeri, Machakos, Kisumu, Nyandarua, Kakamega, Bungoma and Kisii. “Access Bank’s entry into the Kenyan market holds great significance for the growth and improvement of the banking sector and for the Kenyan economy. It is a welcome development that all stakeholders are happy with, “Access Bank Kenya Country Managing…

Kenya has been voted ‘Africa’s Leading Destination’ at the 27th World Travel Awards.   Nairobi was named ‘Africa’s Leading Business Travel Destination’, and Kenyatta International Convention Centre collecting ‘Africa’s Leading Meetings & Conference Centre’). “This is a big encouragement to everybody in the tourism sector and shows that even as we go through this difficult time, Kenya still remains the top destination in Africa. We shall continue to improve our tourism products and to showcase our diverse offerings globally so that we remain ready for take-off once travel resumes fully,” said Kenya Tourism Board (KTB) Chairman Jimi Kariuki. World Travel Awards…

Kenyan High Court has extended the liquidation of defunct Nakumatt Holdings Limited (NHL to February 10, 2021. The resolution of creditors’ debt in the defunct Nakumatt Holdings Limited (NHL) is set to wait longer following High Court’s extension of the liquidation last week. The extension request was made by the Parker Randall administrator who cited a lengthy wind-up process that has also been delayed by COVID-19 disruptions. January, 92 percent of Nakumatt creditors voted to wind down what was once  East Africa’s largest supermarket chain after failed attempts to turnaround its business. The liquidation plan was presented by Peter Kahi,…

Safaricom on Monday posted a 6 percent decline in profit at Ksh 33 Billion for the September quarter with expectations of lower core earnings for FY21. The company had registered a KSh35 billion in the same period a year ago. The decline was attributed to lower M-Pesa earnings following the Central Bank of Kenya’s directive to remove fees on transactions less than KSh1000.  M-Pesa revenue fell by Ksh6.1 billion while income from betting witnessed KSh700 million drop. “The free cash transfers have weighed hard on our half-year results. M-Pesa revenues now account for 30 percent of total revenues in comparison…

Safaricom targets 4 million additional customers to its network with the introduction of SIM cards with the 0112, 0113, 0114, and 0115 prefixes at all Safaricom Shops and Dealers Outlets countrywide. Safaricom CEO Peter Ndegwa says the new phone numbers will help meet a strong demand for their services, especially driven by new mobile data customers. Growing demand for data has seen Safaricom introduce ‘4G for Home’ internet that consists of a 4G enabled SIM card and a 4G router that takes advantage of Safaricom’s countrywide 4G+ network to provide high-speed home internet in areas outside the company’s home fibre…