Kenya’s economy rebounded 10.1 per cent year-on-year in the second quarter of 2021, buoyed by good performance across all sectors, according to preliminary figures released by the National Bureau of Statistics. This is compared to a contraction of 0.2 per cent in a similar period in 2020. In Quarter one, the country’s economic growth recovered to 0.7 per cent. “The growth recorded was mainly a result of easing of COVID-19 containment measures that facilitated gradual resumption of economic activity,” the Kenya National Bureau of Statistics (KNBS) said in its Quarterly Gross Domestic Product Report for the First Quarter, 2021 and…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Our investment in Ethiopia as you are all aware Safaricom Telecommunication Ethiopia plc is now a subsidiary of Safaricom plc. We are currently in the process of setting up our operations preparing detailed plans for operational readiness amongst other requirements ahead of our commercial launch in 2022. We are in contact with the relevant authorities in Ethiopia updating them as per our license obligations. We are confident and looking forward to launching commercial operations as projected whilst cognizant of the current evolving situation in Ethiopia and as we proceed with our plans adapting and assessing the situation as it evolves. …
Kenyans will need to belt up as alcohol, bottled water, juices and cigarettes prices are set to go up following the adjustment of excise duty for inflation by the Kenya Revenue Authority. The tax collector reviewed the prices upwards using the average inflation rate for the 2020/2021 financial year which is averaged at 4.97 per cent which came into effect November 2. As a result, manufacturers and importers of excisable goods may be forced to adjust the prices upwards to the detriment of the consumers. This means that the rate of excise duty for fruit juices has risen to Ksh…
Borrowers defaulting on loans of less than KSh5 million will not be blacklisted at the credit reference bureaus (CRBs) the Central Bank of Kenya (CBK) announced Monday. This is part of President Uhuru Kenyatta’s stimulus package announced to provide relief to struggling Micro, Small, and Medium Enterprises (MSMEs). The moratorium applies to loans below Ksh.5 million that fall in arrears from October 1, 2021, to September 30, 2020. The regulator further said during the period, CRBs will not include in any credit report, any negative credit information for loans of a customer less than Ksh.5 million submitted to the CRB…
MTN Uganda is offering bonus shares to Kenyan Investors keen to buy into buying a 20% in its Initial Public Offer (IPO) worth Ksh 27.6 billion ( $250 Million) which opened 11 th October. It closes on November 22. This is after the Capital Markets Authority (CMA) granted the telco permission for its IPO to be marketed in Kenya, allowing the marketing of the shares to both Professional Investors and Retail Investors. “Kenya’s Capital Markets Authority (CMA) has provided its ‘no objection’ for the MTN Uganda Initial Public Offering (IPO) to be marketed in Kenya, allowing the marketing of the shares…
Telecom service provider Safaricom has unveiled a new campaign ‘Mwelekeo Ni Internet’ to launch a range of affordable 4G smartphones under its Lipa Mdogo Mdogo financing plan and showcase the transformative power of the internet. Through the Mwelekeo Ni Internet campaign, Safaricom aims to bring more Kenyans into the digital sphere by educating them on the power of the internet and showcasing how it can transform their lives. “With more Kenyans going online for everything, from studying to business to social networking, we see an opportunity to narrow the access gap and connect even more people to the internet. As…