Author: Korir Issa

British American Tobacco Kenya Plc (BAT Kenya) experienced a decline of 18.8% in net profit for the fiscal year 2023.  The company’s net profit dropped from KSh 6.9 billion in 2022 to KSh 5.6 billion in 2023.  The decrease in profit was due to factors such as affordability issues, illicit trade, and regulatory uncertainty. “2023 was a very challenging year characterized by significant economic turbulence across both our domestic and export markets. Geopolitical disruptions, cost of living pressures, currency devaluation, rising interest rates and tax increases adversely impacted the trading environment,” disclosed the company. The gross sales of BAT Kenya…

Hey there, lovebirds! Valentine’s Day is here, and you know what that means: surprises, surprises, and more surprises!  While you might expect the usual chocolates and roses, your boyfriend might have something unexpected.  From the sweet to the shocking, here are some surprising things your boyfriend might do on Valentine’s Day.  Break up with you Wait, what? You read that right—breaking up with you on Valentine’s Day. While it may seem like the book’s cruellest move, some guys call this Day quits.  Why? Some see it as a clean break before the holiday season, while others can’t handle the pressure…

Equity Bank will discontinue its pioneering mobile banking application, the EazzyBanking App, initially introduced in 2016.  “Effective March 15th, 2024, the EazzyBanking App will no longer be operational, and existing users are encouraged to migrate to the new Equity Mobile App,” said the letter in an emailed statement seen by Khusoko. The transition to the Equity Mobile App promises a more seamless and modern banking experience. Here are some of its key features: User-Friendly Interface: Equity Mobile is designed to provide a modern and intuitive user interface. Advanced Capabilities: The app integrates with international remittance platforms such as PayPal and…

Global technology leader Xiaomi has introduced the Redmi Note 13 Series in Kenya. The series includes three devices: the Redmi Note 13 Pro+ 5G, the Redmi Note 13 Pro, and the Redmi Note 13. The Redmi Note 13 series, according to Xiaomi Kenya, offers significant improvements in the camera system, design, display, and processor.  These enhancements aim to blur the line between mid-range and flagship smartphones, providing a unique combination of durability, user experience, and imaging capabilities at a competitive price. The company stated, “Prepare for a journey with the Redmi Note 13 Series as it enhances every aspect of…

Toyota Tsusho Corporation of Japan has agreed to establish a vehicle manufacturing plant in Kenya. President William Ruto announced the signing of the deal in Tokyo.  Toyota has pledged an initial investment of 800 million Kenyan shillings (equivalent to $4.9 million) in Kenya Vehicle Manufacturers (KVM), a car manufacturer located in Thika, approximately 25 miles northeast of Nairobi.  According to Ruto, this initiative is expected to reduce the import of secondhand cars by providing more affordable, locally-produced vehicles.  “We must have a balance between the number of imported and newly manufactured vehicles,” he said. In 2023, Toyota Tsusho announced…

Over the past decade, Kenya’s economy has undergone significant political and economic reforms, resulting in sustained economic growth, social development, and political stability gains. However, the country still faces key development challenges such as poverty, inequality, youth unemployment, transparency and accountability, climate change, continued weak private sector investment, and the vulnerability of the economy to internal and external shocks. Challenges and Opportunities in the Kenyan Economy In 2021, for instance, the economy staged a strong recovery, with the economy growing at 7.5%, although some sectors, such as tourism, remained under pressure. The growth, however, declined considerably in 2022, registering a…