Author: David Indeje

Kenya will receive KSh30 billion from the Mastercard Foundation to help the youth access jobs and scale up their businesses. The newly launched initiative dubbed ‘Young Africa Works’ in Nairobi on Thursday aims to support five million Kenyan youth to access work over the next five years. Young Africa Works in Kenya is aligned to the country’s economic priorities, including the ‘Big Four’ sectors (enhancing manufacturing, food security and nutrition, universal health coverage, and affordable housing), as well as the digital economy. The initiative will equip young people with digital, vocational, and life skills; use technology to connect employers and…

Ride-hailing platform Bolt, has expanded its operations to Kisumu, Kakamega, and Thika from the current two to five, making it the largest ride-hailing service provider in terms of geographical reach. Ola Akinnusi, the Bolt Country Manager in Kenya, said that Bolt’s mission is to make urban transportation more convenient and affordable for more people, thus broadening the company’s reach, providing a platform for job creation through its social contribution. “After Nairobi and Mombasa cities, it was natural that Bolt would gradually expand across the country. We now intend to build new communities in Kisumu, Kakamega and Thika as we continue…

Kenya’s National Treasury says the country will cut its 2019/20 budget deficit beginning July-June to 5.6% of GDP from 7.4 % in the fiscal year according to it’s Cabinet Secretary Henry Rotich in his budget proposals to the  National Assembly and the Senate on Thursday. “In relation to GDP this deficit represents 5.6% a decline from 6.8% in this financial year and 7.4% in the last financial year,” According to Rotich, this will be financed by net external financing of Ksh 324 billion and net domestic financing of Ksh 283.5 billion.

KCB Group is the Best Regional Bank in East Africa at the just concluded African Banker Awards 2019 in Malabo, Equatorial Guinea. KCB also emerged as the best in the innovation category for having “demonstrated original and practical uses of technology to provide customer convenience, improved and more affordable services, and greater access to the financial services industry in Africa.” Equity Group emerged the most Socially Responsible Bank of the Year recognizing the bank’s reputation of improving the lives of the less advantaged in society. Commenting on the impressive achievements of the banks shortlisted for the 2019 awards, Omar Ben…

Coca-Cola Beverages Africa has appointed Xavi Selga as its new managing director for Kenya, Mayotte, and Comoros. He takes over from Daryl Wilson, who has been appointed to head operations in Ethiopia as the managing director for the beverage firm. With more than 15 years of experience in the Coca-Cola system, Xavier first joined CCBA as the General Manager for East Africa Bottling Share Company (EABSC) in Ethiopia in February 2014 – a position that he occupied until 2016 when he became the country Managing Director for Ethiopia. Prior to his appointment at EABSC, Xavier was the Managing Director for…

A Kenyan High Court Judge has declined to issue conservatory orders suspending the takeover of National Bank of Kenya (NBK) by the Kenya Commercial Bank (KCB). Justice Weldon Korir refused to temporarily suspend the deal as sought by petitioners Evans Aseto and John Kiptoo and instead certified the matter urgent and directed the petition to be heard on 26th June this year. The petitioners in their suit argue that “We are apprehensive that the acquisition of 1st respondent by the 2nd respondent will occasion loss of jobs to may Kenyans under the employment of respondents as there is high likelihood…