Author: David Indeje

Safaricom has extended its M-PESA Global service to Ethiopia, enabling customers to send and receive money between Kenya and Ethiopia. This expansion aims to increase mobile money usage and promote economic growth in the region. Elsa Muzzolini, Chief Financial Services Officer of Safaricom Ethiopia, highlighted the collaboration’s significance in facilitating safe and affordable cross-border transfers. She noted that the move aligns with the National Bank of Ethiopia’s recent foreign exchange policy reforms and the growing demand for digital payments among the Ethiopian diaspora and businesses. “Our M-PESA Ethiopia customers should now be able to receive safe and affordable transfers from…

Mondelez International, the parent company of Oreo, and Coca-Cola have joined forces to create two exclusive, limited-edition products: the Oreo Coca-Cola Sandwich Cookie and the Coca-Cola Oreo Zero Sugar Limited Edition soda. This limited-time partnership, dubbed “Besties,” aims to combine the best qualities of both brands and elevate the consumer experience. “We are excited to bring this unique collaboration to Kenya,” stated Francis Kathoka, Country Manager for Mondelez International in Kenya. “The Oreo x Coca-Cola Sandwich cookie embodies the essence of friendship, and we will be engaging fans with delicious cookies and interactive digital experiences.” The Oreo Coca-Cola Sandwich Cookie…

Kenya is set to implement a comprehensive tax reform plan that includes integrating pay bills and till numbers with the Kenya Revenue Authority (KRA), introducing Virtual Electronic Tax Receipts (ETRs), and leveraging advanced technologies like Artificial Intelligence (AI) and Machine Learning. The government’s aim to is boost tax collection, ensure greater compliance, and modernize the tax system. The government’s aim is to boost tax collection, ensure greater compliance, and modernize the tax system. The integration of pay bills and till numbers with the Kenya Revenue Authority (KRA), which takes effect on December 25, 2024, is expected to simplify the tax…

Kenya secured a seat on the United Nations Human Rights Council (UNHRC), despite facing domestic criticism from the Kenya Human Rights Commission (KHRC). The KHRC raised concerns about Kenya’s human rights record, citing rampant police violence, restrictions on freedom of expression, and discriminatory practices against marginalized groups. They argued that Kenya’s membership in the UNHRC would undermine the council’s credibility and its mandate to hold human rights violators accountable. “There has been a culture of impunity, with many Kenyans suffering from severe human rights violations that may constitute crimes against humanity,” read the statement. #PressStatement On September 27, 2024, Kenya…

The Monetary Policy Committee in Kenya has lowered the Central Bank Rate to 12% from 12.50 per cent to stimulate economic growth, following a significant decline in inflation rates. The decision provides relief to businesses and consumers struggling with high borrowing costs. The MPC noted that overall inflation had declined further to 3.6 per cent in September 2024 from 4.4 per cent in August, remaining well below the midpoint of the target range. This decline was primarily attributed to lower food and fuel inflation, which had been supported by improved agricultural harvests, a stable exchange rate, and lower global oil…

The Monetary Policy Committee (MPC) of the Central Bank of Kenya (CBK) is expected to cut the benchmark interest rate by 75-100 basis points at its upcoming meeting on October 8th, 2024. According to market analysts from NCBA bank and the Kenya Bankers Association (KBA), the MPC decision is likely to be influenced by: One is the low and declining inflation which is currently below the target range midpoint. September 2024 saw inflation fall further to 3.6%, down from 4.4% in August, due to lower food and fuel prices, and muted demand pressures. They also cite rising geopolitical tensions which…