Author: David Indeje

The National Treasury eyes more money from the domestic market for budgetary support besides soaring debts before the year ends.  The government is seeking to raise an additional  Ksh 22.00 billion in December December via a Tap Sale on recently auctioned papers, FXD1/2012/15 and FXD2/2019/15.  The Tap sale is scheduled to end on 23rd December 2020. On the other hand, National Treasury will be seeking to raise Ksh 75.00 billion in its January 2021 T-bond auction. This will be via two new issues: FXD1/2021/2 and IFB1/2021/16 seeking to raise Ksh 25.00Bn and Ksh 50.00Bn respectively.  The auctions will be held…

Safaricom, Kenya’s telecom market leader on Tuesday announced new M-Pesa tariff reductions. Chief Executive Officer Peter Ndegwa said the new tariffs will affect more than 90 per cent of all customer transactions when sending money. Going forward, therefore, it will now cost KSh6 to send between KSh101 and KSh500, down from KSh11. Transactions of between KSh1,501 and KSh2,500 will cost KSh32 down from KSh41. All transactions of KSh 100 and below will remain free. “This is in consideration of the expiry of the period for the zero-rated M-PESA transactions and the ongoing Covid-19 and economic circumstances,” Ndegwa said. According to…

Nairobi County Assembly Speaker Benson Mutura on Monday was sworn in as acting Governor for 60 days pending the election of a new Governor. He was sworn at by Judge Jairus Ngaah, at County headquarters. This comes after the Senate upheld the decision by Nairobi County Assembly to impeach Embattled Governor Mike Sonko. https://twitter.com/Senate_KE/status/1339664146753830916?s=20 Sonko was facing charges including gross violation of the Constitution and other laws, abuse of office, violation of national laws, and lacking the mental capability to run the county government. Mutura was elected as Speaker of the Nairobi County Assembly in August after the resignation of Beatrice…

Technology firm Huawei Technologies Kenya has confirmed plans to invest in capability development programmes which directly impacts Huawei’s growth and procurement strategy. Speaking at the firm’s recent annual Supplier Conference and Award Forum, Huawei Kenya Delivery and Service vice president,  Chris Yu said the firm had activated its Delivery Operations Centre in Nairobi to provide project delivery oversight and support for its sub-contractors. The Delivery Operations Centre provides Contact Centre support to field contractors linked to the recently introduced Smart Helmets. The firm’s operating partners in Kenya will also access basic and advanced Huawei Certified Training delivered at the African…

Westlands has been ranked as the best performing node recording an average Mixed-Use Developments with a rental yield of 8.5% with the retail, office and residential spaces recording rental yields of 9.8%, 8.2% and 7.0%, respectively, 2.0%, 0.9% and 0.8% points higher than the market averages of 7.8%, 7.3% and 6.2%, respectively. This is according to Cytonn Real Estate Nairobi Metropolitan Area Mixed-Use Developments (MUDs) Report-2020. The report analyses the performance of the MUDs within the Nairobi Metropolitan Area through tracking the changes in occupancies, rental yields and rental rates. It also outlines the outlook and investment opportunity for MUDs.…

Kenya Airways and Air France KLM Group have agreed to mutually terminate their Africa-Europe joint venture partnership from 1st September 2021. Mr Allan Kilavuka, Kenya Airways CEO,  said the development allows KQ to offer additional options and convenience to its customers connecting through our European gateways. “Kenya Airways will continue to serve the Europe market through its gateways of London, Paris, Amsterdam with Rome slated for resumption from 2021. These routes will be served by onward codeshares from the Air France KLM group and additionally with our ever-expanding network of European carriers including Alitalia, British Airways, Lufthansa, and Swiss International…