Author: Muindi

I&M Holdings Plc marked the 5th anniversary of its financial support and solutions programme, German Desk, which has disbursed over KSh1.8 billion in supporting East Africa’s local businesses. Formed through a partnership between I&M Bank and DEG, Deutsche Investitions- und Entwicklungsgesellschaft mbH, the German Desk has been providing banking and financial advisory services for German businesses in the East African region and their local business partners. Kihara Maina, CEO, I&M Bank Limited noted that the Desk’s impact has been felt across the region, which bodes well for German organizations looking to establish a footprint in East Africa. “The Desk reinforces…

Vivo’s V23 5G is a mid-range smartphone with a slim profile that will be launched in Kenya Monday. It will be equipped with a superb 50MP AF Portrait Selfie feature and 8MP super-wide-angle front camera on the front panel also supporting 4K selfie video features.  https://twitter.com/vivoMobileKenya/status/1493493383310057480?s=20&t=gB7SP3gZSJ3WnjYejddLnw The industry-leading front camera will not only make clear, stable, and bright pictures and videos but will also add to the enjoyment with its smooth performance. The triple rear camera module consisting of a 64MP night camera, an 8MP super wide-angle camera and a 2MP super macro camera will support Super Night Mode to…

Data wars are not going to stop any time soon among top telecom and broadband players, Safaricom is now offering 100 per cent bonus data to customers upon attaining their daily data targets in a new campaign.  Customers can check their daily targets on MySafaricom App and usage by dialling *544# and selecting ‘0’ – Nyakua Bonus. Dubbed ‘Nyakua Data Dabo Dabo’,  which builds on the successful Stori Ibambe program that was introduced in 2015 to reward airtime usage, now enables both prepay and postpay customers to enjoy more internet for less. “Our aim is to enable digital lifestyles by…

East African focussed Gold Producer, Caracal Gold, raised US$2.7 million via a share placing for the Kilimapesa gold mine in Kenya. The firm had placed 177 million new ordinary shares that were bought by a major shareholder of the company and strategic clients of Clear Capital Markets, a UK- based stockbroker and wealth manager. https://twitter.com/CaracalGoldplc/status/1492028830445412364?s=20&t=h5VhX-bIgGRDfh7vtQXP-w “The funds will help advance our active growth plans further at Kilimapesa, as we target a 100% gold production uplift to 2,000 ozs per month in 2022, and at a highly prospective time for gold producers,” Chief Executive Robbie McCrae said. The Kilimapesa Gold Mine…

StarTimes Media will expand local content production in the East African region with an additional investment of Ksh 200 million. This will bring its spending on local content to over Ksh 400 million.  The company’s services are available in over ten African countries, including Kenya, Nigeria, Tanzania, Uganda, Rwanda, Burundi, and Sudan, as well as two broadcasting centres in Dar es Salaam and Abuja. “Our premium local drama – NIA being the first local production investment this year, will set the tone on our commitment to quality local entertainment for our subscribers. We are looking forward to increasingly growing our…

Moody’s Investors Service in early February assigned, for the first time, a stable rating to the Kenyan banking sector. “…on expectations that a recovering economy will enable banks’ loan quality and profitability to rebound from weakened levels, while capital, funding and liquidity will remain strong,” Moody’s said in a statement.  However, besides loans as the min credit challenge facing Kenyan banks, the agency noted that non-performing loans (NPL) will decline in the next 12 to 18 months. The Central Bank of Kenya shows that the banking sector posted an impressive performance in the eleven months to November 2021. During the…