Author: Muindi

Max Verstappen clinched his first race victory of the 2022 Formula One season after holding off Charles Leclerc to win the Saudi Arabian Grand Prix  Sunday evening. https://twitter.com/F1/status/1508149242824642576?s=20&t=ABl669H2bmChuo8KT6RYlw “We were battling hard at the front. It was tough. I’m really happy we’ve finally kick-started the season,” said Verstappen. Despite the defeat, Leclerc maintains his world championship lead after two rounds. “It wasn’t enough today, but I really enjoyed that race. It’s hard racing but it’s fair, every race should be like this. It was fun, I’m obviously disappointed, I wanted to win today,” he said. Leclerc’s Ferrari teammate Carlos Sainz…

Diaspora Remittances to Kenya totaled $321.5 million (KSh36.6 billion) in February, 5.1 percent lower compared to $338.7 million (KSh38.3 billion) in January. Data from the Central Bank of Kenya (CBK) Weekly Bulletin said cumulative inflows for the 12 months to January totaled $3.84 billion (KSh437.7 billion) compared to $3.15 billion (KSh359.1 billion) in the same period in 2021, a 21.4 percent increase. The drop was attributed to seasonal factors. The United States of America remains the largest source of remittances in Kenya, accounting for 58 percent in February 2022. It contributed  $186.5 Million in February 2022 compared to $ 209.1…

The Treasury is targeting KSh 70 billion from two bonds (FXD1/2022/003 and FXD1/2022/015) auctions in April 2022 from the domestic market. The three-year paper seeks to raise Ksh 40 billion and a new 15-year paper worth Ksh.30 billion. Yields on the two papers will be determined during the papers’ auctions which run to April 19. In March, the National Treasury received Ksh.42.4 billion from two bond auctions off its target of raising Ksh 50 billion. For instance, investors’ participation in the Tap sale of FXD1/2021/005, FXD1/2020/015, and FXD1/2021/025, bids worth Ksh 24.89 billion were received against a target of Ksh…

NCBA Group PLC’s net profit more than doubled to KSh10.2 billion from KSh4.6 billion in 2020. The lender attributes the sterling performance from its banking, unit trust, and investment bank operations. “While there is still much more to do, it is clear that our merger is paying dividends. The results are a reflection that we are delivering on our strategy despite the headwinds introduced by Covid-19,” Group Managing Director John Gachora said. NCBA Board resolved to recommend a final dividend for the year of KSh 2.25 per share which, together with the interim dividend of KSh 0.75 per share paid…

Health authorities in Kenya say over 840, 000 doses of the AstraZeneca coronavirus vaccine have expired because they were not utilized. The doses had an expiry date of February 28. The Ministry of Health on Wednesday said most of the expired doses came from Nakuru (35,790), Busia (27,980), Kajiado (25,770), Kakamega (12,870), and Kwale (11,730) counties. By January 2022, Kenya had about 2.2 million doses of the Covid-19 AstraZeneca vaccines doses. Health Cabinet Secretary Mutahi Kagwe in his daily briefing disclosed that the low intake of the vaccine is due to complacency by Kenyans following a reduction in the positivity…

Safaricom plans to grow its digital business enterprises and diversify revenues to exploit Kenya’s growing digital economy.  The telco that aims to become a purpose-led technology organization by 2025, will leverage its connectivity and experience by expanding its tech solutions in the areas of digital business through cloud computing, cyber security, and the internet of things (IoT) underpinned by IT consulting services. The IoT technology enables device-to-device communication over the internet, including tracking and ring-fencing of assets among other services.  “As Kenya’s digital economy continues to expand across various sectors, we are well prepared to provide matching tech solutions that…