Author: David Indeje

Buoyed by accelerated increases in new orders and production, Kenya’s private sector in September grew the fastest rate since April 2018. The Markit Stanbic Bank Kenya Purchasing Managers’ Index (PMI) jumped to 56.3 in September, from 53.0 in August, its highest level since April 2018. Any reading above 50 indicates growth. The index rose from 53.0 in August and marked the third successive expansion since the downturn caused by the COVID-19 outbreak. “With the government easing lockdown restrictions during the third quarter of the year, firms saw a release of pent-up demand as clients largely returned to markets,” the survey…

Trading at the Nairobi Securities Exchange (NSE) remains depressed due to the cautious stance being taken by investors says Genghis Capital. During the week ending Oct 2., the market recorded mixed performances, with NSE 20 recording marginal gains of 0.3 performance while NASI declined by 0.1 percent.  The NSE 25 on the other hand, remained unchanged from the previous week. NASI performance was driven by losses recorded by large-cap stocks such as ABSA, EABL and Co-operative Bank, which declined by 2.0 percent, 1.8 percent and 1.7 percent, respectively.  “The decline was however mitigated by gains recorded by other large-cap stocks…

Three-time Olympic champion  Ethiopia’s Kenenisa Bekele has withdrawn from Sunday’s, October 4th London marathon with a calf injury.  “I am very disappointed that I cannot race on Sunday.” https://twitter.com/KenenisaBekele/status/1312083751820722178?s=20 “I have been having treatment every day since then and I truly believed I would be ready, but today it is worse and I now know I cannot race on it.” “This race was so important to me. My time in Berlin last year gave me great confidence and motivation and I was looking forward to show that again, I have worked so hard for it. I realise many people around…

The Energy and Petroleum Regulatory Authority has raised the price of fuel following the Kenya Revenue Authority’s move to adjust upwards the Excise Duty on Super Petrol, Diesel, and Kerosene. According to EPRA, the action was prompted by the average inflation rate of 4.94 percent for the financial year 2019/2020.  As a result, the pump price for petrol in Nairobi increases by KSh1.12 while diesel and kerosene increase by KSh.0.58 per litre respectively. The new adjustments are effective from 3rd October until 14th October. The excise duty adjustment is in line with the annual inflation rate across the 2019/20 financial…

60 Kenyan students from different universities across the country have graduated in the Huawei Seeds for the Future program which offers training around technology fields. The students who attended a virtual graduation ceremony crunched their brains for five days of studying, 5G, Big Data, Artificial Intelligence, and Cloud Computing. The program is a flagship CSR program from Huawei which aims at developing ICT expertise and experiences in the global business environment, young people from different countries can learn about advanced technologies in the ICT industry. https://twitter.com/HuaweiKenya/status/1311206756811509761?s=20 Students who participated in the program were able to work with Huawei products and…

Elsa Angel Majimbo,19-year-old Kenyan comic who has stolen the hearts of many because of her comedy, has been announced as one of the nominees for the African Social Star of 2020 category at the upcoming E! People’s Choice Awards. “So honoured to be the youngest ever nominated for E! Peoples Choice Awards, African Social Star category,” she Tweeted. “I am so excited and shocked to announce that I have been nominated E! Peoples Choice Awards in the category of African Social Star. While I don’t know how I got here so quickly, what I do know is I wouldn’t have…