Author: Korir Issa

Safaricom has announced an interim dividend of Ksh 0.55 per ordinary share (totalling Ksh 22.04 billion) for the year ending March 31, 2025. The decision was made by the board on February 12, 2025, and announced by Ag. Company Secretary Linda Wambani on February 13, 2025.   “The Board of Safaricom PLC is pleased to announce that at its meeting held on 12th February 2025, it was resolved to approve payment of an interim dividend of Kshs 0.55 per ordinary share for the year ending 31st March 2025,” said Wambani. This announcement comes despite a 17.7% drop in Safaricom’s half-year profit…

The Central Bank of Kenya’s latest Market Perception Survey signals a significant weather-driven impact on upcoming food prices. The survey, conducted between January 13 and 17, 2025, found a sharp increase in the proportion of respondents citing weather conditions (floods, drought) as a key price driver, rising from 62% in November 2024 to 86% in January 2025. “This was influenced to a large extent by the higher temperatures in January 2025 relative to the long-term mean for the month,” said the CBK in its Agriculture Survey for January. In January 2025, price increases were observed for several food items compared…

The Kenyan Cabinet approved an overhaul of travel policies, including the exemption of all African citizens from Electronic Travel Authorization (eTA) requirements, aiming to enhance intra-African travel and boost tourism. This decision follows the approval of the 2025 Budget Policy Statement (BPS) and includes a comprehensive plan to improve passenger experience at Jomo Kenyatta International Airport (JKIA). Key measures include: eTA Exemptions “…exempting all African citizens from Electronic Travel Authorisation (ETA) requirements and easing intra-African travel,” a dispatch from the cabinet on Tuesday reads. Enhanced Passenger Experience at JKIA: Streamlined security checks with risk-based profiling and dedicated screening rooms. Increased…

XTransfer, a leading China-based B2B cross-border trade payment platform, and Ecobank Group, a leading pan-African bank, have entered into a strategic partnership to enhance cross-border trade for African SMEs. This collaboration addresses key challenges faced by African businesses in international trade, such as high transaction costs and difficulties in accessing foreign exchange. Key Benefits for African SMEs Simplified Cross-Border Payments: The partnership will facilitate seamless cross-border payments for African SMEs, enabling them to make and receive payments in their local currencies and mitigating the impact of foreign exchange fluctuations. Enhanced Access to Global Markets: By leveraging Ecobank’s extensive African network…

Kenya’s private sector activity expanded for the fourth consecutive month in January, but at a slightly slower pace than in December, according to the latest Stanbic Bank Kenya Purchasing Managers’ Index (PMI). PMI, which tracks private sector activity, edged down to 50.5 in January from 50.6 in December, remaining above the 50-point mark that separates growth from contraction. “The Kenyan Purchasing Managers’ Index (PMI) expanded for a fourth month running in January but at a slightly weaker pace…,” said Christopher Legilisho, economist at Standard Bank. Key Findings Despite overall growth, the survey revealed a slight slowdown in new orders and…

Equity Bank and the International Finance Corporation (IFC) have launched a $20 million risk-sharing facility to enhance financial inclusion for underserved communities in 14 counties across Kenya, including refugees and their host communities.  This groundbreaking initiative aims to empower refugees and host communities by improving their economic stability and self-reliance. The program seeks to foster entrepreneurship, create jobs, and drive sustainable economic development in marginalized regions by providing access to credit and other financial services. “This partnership with IFC embodies Equity’s commitment to driving financial inclusion and economic empowerment across the African continent,” noted Moses Nyabanda, Equity Bank Kenya Managing…