Agricultural firm Sasini Tea and Coffee, has issued a profit warning for the fiscal year ending September 30, 2024. The Nairobi Securities Exchange-listed firm anticipates a 25% decline in net profits compared to the previous year due to elevated production costs, depressed commodity prices, and supply chain disruptions. Contributing factors include challenges with the perishable nature of the fruit business stemming from disrupted logistics to European markets following the closure of the Suez Canal. Additionally, decreased demand for nuts in key markets, particularly the United States, due to a perceived global economic recession, has negatively impacted the company’s performance. Board…
Author: David Indeje
David Indeje
David Indeje is the Community Engagement Editor at Khusoko, East Africa’s leading digital business news platform. He shapes editorial content, drives audience engagement, and amplifies diverse voices. Beyond journalism, he consults on digital strategy across agriculture, governance, technology, and health, while examining AI’s role in the future of media. He also serves as Communications Officer at KICTANet, advancing digital inclusion and policy dialogue.
A surge in dementia cases is looming globally, driven by increasing life expectancy, according to the 2024 report of the Lancet Commission on dementia prevention, intervention, and care. Dementia is a condition characterized by cognitive decline and memory loss and is poised to affect millions more people in the coming decades. The Lancet Commission on dementia prevention identified 14 factors, including education, hearing loss, high blood pressure, and obesity, that contribute significantly to the development of the disease. Kenya is not immune to this trend. While an estimated 258,000 older adults currently live with dementia in the country, the absence…
Kenya’s private sector experienced a sharp downturn in July, according to the Stanbic Bank Kenya Purchasing Managers’ Index (PMI). The index plummeted to 43.1, signalling a significant contraction in business activity compared to the previous month’s 47.2. Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration. The decline was primarily attributed to widespread protests and political unrest, which disrupted operations, reduced new orders, and hampered output. While inflation eased, input costs continued to rise, squeezing profit margins. Despite challenges, companies increased employment, albeit at a slower pace “for the…
The 17th Kenya Internet Governance Forum (KeIGF) convened in August, ignited robust discussions on fostering a collaborative and inclusive digital landscape for the nation. Dr. Grace Githaiga, Convenor of KICTANet, underscored Kenya’s remarkable digital progress over the past two decades. Internet penetration has surged from a modest 3% in 2004 to a substantial 40.8% today, while mobile and smartphone adoption has soared. The ICT sector has emerged as a pivotal economic driver, propelled by innovations in digital payments, e-commerce, and digital services. However, Dr Githaiga emphasized the urgent need to address challenges, particularly the internet shutdown during the #RejectFinanceBill2024 protests.…
Nairobi confirmed its first case of mpox on Wednesday after detecting the virus in a traveller from Uganda to Rwanda at a southern Kenyan border crossing. This follows a declaration of a new outbreak in the Central African Republic on Monday, with cases extending to the capital, Bangui. Mpox, a viral disease originating in wild animals, has seen a recent surge in Africa. The Kenyan Ministry of Health announced heightened surveillance measures nationwide after confirming the initial case. While no new cases have been reported domestically, authorities are closely monitoring the situation. The index case involved a long-distance truck driver…
The COVID-19 pandemic had a profound impact on Kenya’s economy, disrupting businesses, reducing Gross Domestic Product (GDP) growth, and increasing unemployment rates. In 2020, the economy contracted to -3% from a rate of 5.0% in 2019 according to the Kenya National Bureau of Statistics (KNBS). As the country navigated these challenges, the concept of “Build Back Better” emerged as a guiding principle for recovery. This approach emphasized not just rebuilding what was lost but creating a more sustainable, equitable, and resilient economy for the future. The European Investment Bank (EIB), which is the European Union’s (EU) Bank, has been a…