Author: David Indeje

The global unemployment rate and the jobs gap rate—the share of people who want to work but are not employed—have both dropped below their pre-pandemic levels, according to the International Labour Organization (ILO). The World Employment and Social Outlook Trends: 2024 (WESO Trends) report, which analyses the latest labour market trends and their social implications, however, warns that the labour market recovery is fragile and uneven and that growing inequalities and stagnant productivity pose serious challenges for the future of work. According to the report, the global unemployment rate improved from 5.3 per cent in 2022 to 5.1 per cent…

Kenya’s young population represents a vibrant force for the nation’s future. Recognizing this potential, Absa Bank Kenya has made significant strides in empowering the next generation through strategic investments in youth development and future skills. This commitment is reflected in the bank’s 2022 Sustainability Report, which showcases impactful initiatives that are equipping young Kenyans with the knowledge, resources, and confidence to thrive in a rapidly evolving world. Absa Bank Kenya’s shared value strategy involves supporting education and skill development, promoting diversity and inclusion, and providing financial services to women, youth, and SMEs. The bank offers demand-driven and innovative solutions for…

The Nairobi Securities Exchange (NSE) has announced that the trading of Kenya Airways PLC shares will remain suspended for 12 more months, starting January 1, 2024.  This is the third extension of the suspension. KQ shares were initially suspended from trading on the NSE in July 2020 after Parliament began to review the National Management Aviation Bill 2020, which would lead to the establishment of Kenya Aviation Corporation.  “The extension of the suspension seeks to enable the company to complete its operational and corporate restructuring processes,” NSE said in a public notice dated January 2, 2024.  The latest suspension was approved by the…

Family Bank Kenya has announced a one-month extension of its Sh9.3 billion rights issue, which will now close on January 31, 2024.  The rights issue, launched in October 2023, allows existing shareholders to buy one new share for every two they own at a discounted price of Sh14.5 per share. The bank plans to use the funds raised from the rights issue to support its regional growth, IT upgrade, and new product development.  Family Bank, which started as a building society in 1984, operates 93 branches, 5,900 agents, and 144 ATMs in 32 counties.  “The bank’s strategic intent is to…

1000 students in Kenya will benefit from the Equity Group’s Wings to Fly scholarship program in 2024. The Wings to Fly scholarship program provides full secondary school scholarships for academically gifted yet needy students.  The program was open to 2023 KCPE candidates who are orphans or vulnerable adults. Beneficiaries are students who sat for their Kenya Certificate of Primary Education exam last year and got 350 marks and above. It received 56,000 applications, but only 1,000 students were selected. The group’s CEO, Dr. James Mwangi, encouraged the applicants to pursue their dreams and seize the opportunity to change their lives.  Dr…

Equity Group Holdings Plc has announced the completion of the merger of its two subsidiaries in Rwanda: Compagnie Générale De Banque (Cogebanque) Plc and Equity Bank Rwanda Plc. The merged entity, which will operate under the name Equity Bank Rwanda, will offer a wide range of banking products and services to individuals, small and medium enterprises, and corporations in Rwanda. The merger will enhance the efficiency, profitability, and resilience of EBR a, as well as create synergies and economies of scale.  It will also enable the bank to leverage its digital platforms and innovation capabilities to deliver superior customer experience…