Author: David Indeje

Agricultural firm Sasini Tea and Coffee has issued a profit warning for the fiscal year ending September 2023, projecting net earnings to be 25% lower than in 2022. The firm cites high production costs and a severe drought in the first six months of the fiscal year that impacted its bottom line. “The major challenges during the year were occasioned by the very high cost of production due to unplanned escalation of input costs, the severe drought witnessed in the first six months of the financial year which affected production volumes negatively, lower than expected coffee prices and the effects…

Kenya says it will not default on its debt obligations, especially the $2 billion Eurobond that matures in June 2024. Deputy Central Bank of Kenya Governor Susan Koech said the government has a plan to manage the Eurobond through a liability management exercise before the end of this year. She said the government is committed to fiscal consolidation and debt sustainability and has budgeted for the Eurobond repayment. “If you look at the government’s plan, especially on fiscal consolidation, you will see a deliberate effort from the government to ensure that the public debt remains sustainable. I think what has…

Airtel Uganda listed 4.36 billion shares on the Uganda Securities Exchange (USE) on Tuesday, after selling 54.45 per cent of the 8 billion shares offered in its initial public offering (IPO). The telco’s IPO failed to meet its target, despite extending the closing date by two weeks.  The company announced on Monday that it sold only 54.45 per cent of the 8 billion shares offered in the IPO, raising Shs211.4bn ($56mn) out of an expected Shs386bn ($103mn). The IPO attracted 4,614 investors, mostly retail investors who bought shares through incentives.  Airtel doubled the shares for both ordinary Ugandans and institutions…

The National Syndemic Diseases Control Council (NSDCC) has released a report on HIV prevalence in Kenya by county.  The report shows that HIV prevalence was 3.7% in 2022, with 1.4 million people living with HIV (PLHIV) in the country.  Females had a higher HIV prevalence of 5.3% than males, with 2.6%. The report reveals that Homa Bay County had the highest HIV prevalence of 15.2%, followed by Kisumu (14.5%), Siaya (13.2%), Migori (9.7%), and Kisii (4.4%).  Other counties with high HIV prevalence were Mombasa (4.6%), Samburu (4.3%), Vihiga (4.2%), and Uasin Gishu (3.7%). The report also shows that new HIV…

Sauti Sol, one of Kenya’s most iconic music groups, bid farewell to their fans on Saturday, November 4, 2023, with a final SolFest concert at the historic Uhuru Gardens in Nairobi.  The boyband, which consists of Bien Baraza, Polycarp Otieno, Savara Mudigi, and Austin Chimano, delivered a stunning performance as they marked the end of their 20-year musical journey together. The two-day event, which was sold out, attracted more than 20,000 fans who came to witness the last show by the band that has entertained Kenya and the world with hits such as Sura Yako, Kuliko Jana, and Melanin.  The SolFest concert was…

Netflix is no longer offering a free subscription for its Kenyan viewers. However, its subscribers can still enjoy their favourite entertainment by upgrading to any of the paid plans available in the country. “Netflix is always exploring ways to improve your experience and deliver more value for your money. That’s why we recently slashed our prices by up to 37% so that you can access entertainment for as low as KES 200 per month! it said in a statement. How to Pay for Netflix We want to make it easy and convenient for you to pay for your Netflix subscription.…