Author: David Indeje

Kenya’s economy is estimated to have expanded by 6.3% in 2018 driven by agriculture, excluding fisheries and forestry, which expanded by 6.6%, up from 1.8% in 2017, according to the Kenya National Bureau of Statistics. “The growth was attributable to increased agricultural production, accelerated manufacturing activities, sustained growth in transportation and vibrant service sector activities. Agricultural activities benefitted from sufficient rains that were well spread throughout the country,” said the Statistics body in its Economic Survey 2019. KNBS further said the growth realized was anchored on a relatively stable macroeconomic in 2018. Inflation remained low at 4.7% in 2018 compared…

The Energy Regulatory Commission (ERC) will now be referred to as the Energy and Petroleum Regulatory Authority (EPRA).   “We wish to notify the public that the Energy Regulatory Commission (ERC) is transitioning into the Energy and Petroleum Regulatory Authority (EPRA), established under the Energy Act 2019,” said the commission in a public notice posted on their Facebook Page. The commission acquired the new name at the end of March after the Energy and Petroleum Bills came into effect. The new law repealed the Energy Act 2006 and the Petroleum (Exploration & Production) Act (1986 revision). The Energy Bill, 2017…

Shares of listed banks in Kenya have been assigned a recommendation of “Hold” from investment firm Genghis Capital. “We note that the challenging business environment, occasioned by regulatory constraints, coupled with weakened asset quality, serve as impediments to growth. There still exists uncertainty with the interest rate cap ceiling,” according to the firm’s 2019 Banking Sector Report. However, the firm has reservations on KCB Group Plc, Standard Chartered Bank Kenya Ltd, and Diamond Trust Bank Kenya Plc. They recommend a buy on DTB Kenya with a Target Price of KES 149.80, a 17.5% potential upside from the current market price…

Mars Wrigley Confectionery, a global leader in the manufacture of chewing gum, confections and chocolates, opened its Kshs 7 billion manufacturing plant in Athi River, Machakos County. The new factory will produce popular Mars Wrigley Confectionery brands, including Big G®, PK®, Doublemint® and Juicy Fruit®. Additionally, the company will also look to expand a wide range of their chocolate portfolio in the market. The plant is constructed on a 20-acre piece of land in Mavoko, Machakos County has replaced the company’s old plant that was located in Nairobi’s Industrial Area. The company’s investment in a new facility whose construction started…

Smartphone brand Oppo launched the F11 and F11 Pro range of high-end smartphones in the Kenyan market. This was described as a move from “Selfie Expert” to “Portrait Master”. “To help users capture great photos anytime and anywhere…” said Ernest Teigut, Product Manager, OPPO Kenya  Region. The new device comes with a  6.53-inch 1080p notch-less display and a 48MP+5MP back cameras and the 16MP selfie shooter.  In addition, the F11 Pro boasts an uninterrupted full-screen display (Panoramic Screen) made possible by a hidden front camera module rising up when required. “OPPO F11 series debuts in the Kenya market to offer…

Swiss Re, one of the worlds leading providers of insurance products and listed on the main segment of the SIX Swiss Exchange, now owns 15.79% of Britam Holdings PLC for 50 million shares through a private transaction. This makes it the third-largest investor after Equity Holdings and Private Equity firm AfricInvest. “These shares were acquired from Jimnah Mbaru (the ‘Transferor’) through a private transaction under Regulation 57(d) of Capital Markets (Licensing Requirements) (General Regulations, 2002,” said the Capital Markets in a Notice. Upon completion of the transaction, Swiss Re will hold fifteen decimal seventy-nine percent of the total Issued ordinary…