Author: Korir Issa

The International Finance Corporation (IFC) plans to inject up to $ 160 million in equity into telecoms firm Safaricom Ethiopia. The World Bank’s private sector lending said in a disclosure that the funds will support Safaricom Telecommunications Ethiopia private limited company (STE) which targets to build, own and operate a nationwide public telecommunication network in the country. “IFC intends to provide a loan of up to USD 100 million to fund the operating company’s investment programme,” IFC said. “The project aims to support the transformation of a series of SDG verticals via the provision of advanced telecom services dedicated to…

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Coffee earnings in the month of July jumped 55 per cent to record Ksh 22.4 billion compared to KSh14.4) billion in the same period in 2021. According to Nairobi Coffee Exchange (NCE) this was due to improved volumes at the auction. Clean coffee traded at the auction went up by 42.74 per cent from 21,757 to 31,012 metric tonnes, respectively, during the review period. During the period, the number of clean bags of coffee sold increased from 353,413 bags to 504,455 bags for the period between July 2021 to July 2022, respectively. Premium grades AA, AB, C and PB recorded…