Safaricom’s contribution to the Kenyan economy in the year ended March 2018 grew by KSh57 billion to KSh543 billion equivalent to 6.5 percent of GDP. “The following “True Earnings” bridge shows that the total value we created for Kenyan society in FY18 was KES 543 billion, 12 percent greater than in FY17 and around 9.8 times greater than the financial profit the company made in the same year,” according to the telco’s 7th Sustainable Business Report themed “Creating Shared Value”. “When monetised, the net value of the most material social, environmental and economic impacts of the company, both positive and…
Author: David Indeje
David Indeje
David Indeje serves as the community engagement editor at Khusoko, a digital platform covering East African business news. He manages editorial content, engages audiences, and amplifies diverse voices while consulting on digital strategy for brands in agriculture, governance, technology, and health. Indeje explores AI’s impact on journalism and works as a communications officer at KICTANet.
Uchumi Supermarket Plc has appointed John Karani Ndiwa as an Interim Chairman of the Board replacing Dr. Catherine Ngahu who has retired. “The board acknowledges contribution Ngahu has had in the company especially in identifying a potential investor,” said Chief Executive Mohammed Mohammed. A substantive chairman will be appointed in due course. Karani has been serving as a Non-Executive Director of the retailer since September 9, 2016. He has 27 years’ experience in the management of blue-chip companies across Africa. He holds an MBA Degree in Strategic Management from the United States International University (USIU) and a Bachelors Degree in…
The Kenya Bankers Association (KBA) launched its strategy to support Micro, Small and Medium-Sized Enterprises (MSMES) in Nakuru County. The Inuka Enterprise Program (IEP) initiative intends to equip entrepreneurs with skills designed to enable them to run businesses effectively. The training is also meant to boost MSME’s market reach, enhancing their ability to access credit from banks. IEP was initiated by the banking industry this year, was motivated by the need to facilitate more access to loans to small businesses. So far, more than 170 start-up and established business owners have received face-to-face enterprise management training, with close to 900…
Telkom Kenya is embarking on a transformation phase to align its cost structure and skills-sets that will include laying off an estimated 500, with those affected being notified with a 30 day notice. In a statement issued on Friday, the telco attributes the decision to business growth and sustainability “To enable Telkom to invest more into the growth and sustainability of its business, it must align its cost structure and skill-set with its Strategy. This requires Telkom to restructure its business, and as a result, this will impact the current and long-term needs of its workforce. This restructuring will enable…
The M-PESA Foundation Academy provides world-class Kenyan education to talented but economically disadvantaged students from across the country.
The Kenya financial market has been ranked third with a score of 65 percent in Africa in the second edition of the Absa Financial Markets Index (AFMI). This is an improvement from fifth place in the first edition attributed to ease of foreign exchange access where it ranked first and third in its ability to enforce financial agreements, clarity on property rights and compatibility with international standards. South Africa, with a score of 93 percent, was declared the most advanced market in Africa. According to the report, areas of improvement for Kenya include limited product diversity, relatively low pension assets…