Author: Muindi

The Kenya Development Corporation (KDC) says it has been accepted into the Sustainable Standards and Certification Initiatives (SSCI) programme by the European Organisation for Sustainable Development. It is the first Kenyan financial institution to commence the journey of achieving the highest level of sustainability certification under the SSCI programme. https://twitter.com/KDC_KE/status/1488498970645123075?s=20&t=fPq8mp0XeSJj6MrgGaAmjw The certificate was received by Kenya’s Ambassador to Germany Tom Amolo during the World Development Finance Forum 2021, held in Karlsruhe, Germany. KDC Interim Director General Christopher Huka (left) said the award is a demonstration of the corporation’s strong commitment to influencing positive market transformation and leadership in sustainability. “The…

Eveready East Africa, a Kenyan manufacturer and marketer of battery brands has delayed results for its financial year ended Sept 30, 2021, due to ‘unavoidable circumstances’ it said. The listed battery distributor said it was not able to meet the Capital Markets Authority reporting deadline of 31st January 2022. “Our year-end reporting and publishing of the 30th September 2021 Audited Financial Results will be done before 15th February 2022,” The Board said in a Wednesday public notice that sought for the extension. Its request for extension is to enable the Director’s to review additional confirmation and assurances on the financial…

The National Social Security Fund (NSSF) has diversified its product offering to drive the uptake of pensions with the launch of NSSF Mini app on the M-PESA super app. Customers can register for NSSF membership, keep track of their contributions, top-up and manage their NSSF account, and make Tenant Purchase Scheme (TPS) payments all within the M-PESA Super App. Dr Anthony Omerikwa, Managing Trustee – NSSF says the demand for NSSF services and the need to save for pension has gone beyond formally employed people to entrepreneurs, especially those running medium and small businesses. “It has therefore become necessary to…

The first chartered flight of the season arrived in Mombasa City from Bulgaria, a boost to Kenya’s hospitality sector, Kenya Airports Authority said on Sunday. The Airbus A320, European Air chartered by Abax Bulgaria limited, departed from Sofia Bulgaria and landed in Mombasa at 9:00 am with over 151 travellers on board who included 35 travel agents from Bulgaria. One chartered flight – European Air Charters- will fly to the coastal city once every two weeks for the next 3months KAA said. The Charter Airline (European Air Charters), is set to operate direct flights ✈️ into Mombasa at-least once every…

The Central Bank of Kenya (CBK) is offering a 19-year infrastructure bond (IFB1/2022/19) seeking to raise Kshs 75.0 billion to fund infrastructure projects in the 2021/2022 budget estimates. The coupon rate will be market-determined. The sale period is between 31st January 2022 to 15th February 2022 and the payment date of 21st February 2022. Bidders are to invest a minimum of KSh 100,000 while the redemption date is 28th January 2041. According to Kenya’s 2021/22 budget estimates, the Infrastructure, Energy & ICT sector has been allocated KSh 332.86 Billion. Priority projects in the budget include construction of Roads and Bridges…

East African Breweries Limited (EABL) posted $76.6 million in its half profit to December 2021 from $33.11 million earned in a similar period in 2020. The brewer attributed the 131 per cent revenue growth to margin expansion, prudent cost management in Kenya, following the lifting of the curfew and re-opening of bars in October 2021. “The Group’s profit after tax grew to $76.6 million, primarily driven by the higher net sales, margin expansion, robust cost management and the re-opening of bars in Kenya in the second quarter,” EABL said in the statement. During the period under review, net sales increased…