Author: Muindi

Norfund, the Norwegian government’s investment fund, has signed a USD14 million (KSh1.7 billion) financing agreement with Hela Apparel Holdings PLC to support its operations in East Africa. Hela Kenya, established in 2016, is the largest manufacturing facility within the Hela Group and employs over 4,000 people. The facility is also one of the largest in Kenya, producing approximately 20% of the country’s total apparel exports. https://twitter.com/hela_apparel/status/1630170975487643649?s=20 “Our expansion to Africa has been a rewarding venture, and we continue to see many opportunities within the region for further development,” said A.R Rasiah, chairman of Hela Apparel Holdings. “Given the increasingly unpredictable…

German’s Boehringer Ingelheim, a leading research-driven biopharmaceutical company, has opened its scientific office in Nairobi, Kenya. The new office will serve as the company’s headquarters for the Sub-Saharan Africa region and is poised to expand the company’s global presence in the area. “For over two decades, Boehringer Ingelheim has been committed to improving human and animal health in Africa,” Mohammed Tawil, Regional Managing Director and Head of Human Pharma at Boehringer Ingelheim India, the Middle East, Turkey, and Africa (‘IMETA’) said. “Our presence here will enable us to better understand the needs of the local communities and work in partnership…

Airtel Kenya has launched its Embedded Subscriber Identity Module (eSIM) support for its customers. The eSim is an embedded SIM within the phone that cannot be physically removed. Customers are required to visit an Airtel Shop to be given a card with a QR code for scanning with their phone to activate the e-SIM service. Airtel Kenya’s Managing Director, Ashish Malhotra, said customer expectations are changing, and the telecom firms have been forced to adapt. “We are confident that our customers will quickly move to our eSlM for what it delivers. Mobile users reward digital convenience; therefore as a business,…

JPMorgan, the largest US bank by assets, has set up a regional office in Nairobi, Kenya. President William Ruto has hailed the move as a “vote for Kenya’s emerging success in the global marketplace.” The new regional office in Nairobi will serve as a hub for JP Morgan’s operations in East Africa. In 2018,  chief executive Jamie Dimon stated that the bank intended to increase its footprint in Africa by entering nations like Ghana and Kenya. President Ruto discussed revising development financing to be more responsive to climate change during his meeting with Daniel Zelikow, the vice-chairman and global head…

Chike Africa Limited has bought out troubled Kenyan microlender, Real People following approval from the Competition Authority of Kenya (CAK). “In exercise of the powers conferred by Section 42(1) of the Competition Act, 2010, the Competition Authority of Kenya excludes the proposed acquisition of sole control of Real People Kenya Limited by Chike Africa Limited from the provisions of Part IV of the Act,” CAK acting Director-General Adano Wario said. https://khusoko.com/2021/04/01/cma-slaps-ksh15m-fine-on-real-people-bosses-for-diverting-ksh1-3-bn/

Agricultural firm Kakuzi Plc plans to double avocado exports to China following an engagement with Dalian Yidu Group, a major Chinese importer of fresh fruits and vegetables. To sustain production, Kakuzi has expanded its avocado orchards by 60 hectares, up from 927 hectares, at the cost of KSh120 million, to meet the ever-growing demand for quality superfoods globally. “Kakuzi Plc is strategically positioned to provide quality superfoods for the local and export markets.” “The visit by the team from Dalian Yidu underscores the importance of quality management systems as such buyers undertake rigorous evaluations to enable them to deliver nothing…