Author: Muindi

The Kenya Tea Development Agency says it has increased monthly green leaf payments for farmers by up to three shillings aimed at enhancing their earnings. The Agency is increasing the price in regions five, six, and seven by 11 per cent and 17 per cent respectively. The new prices are effective from 1st July 2021. Farmers in region five covers factories in Kericho and Bomet counties will earn Ksh 20 per kilo of green leaf delivered up from Ksh 18 previously.  Farmers in both region six – which covers factories in Kisii and Nyamira counties – and region seven –…

Kenya’s food and beverage Company, Britania Foods Limited has gone into administration, effective August 6, 2021. Audit firm PKF Consulting Ltd said Peter Kahi has been appointed as the Administrator of the company. “By virtue of the Administration, the powers of the directors of the company in terms of dealing with the company’s assets have ceased. None of the directors, shareholders, employees and no other person is authorised to transact any business on behalf of the Company without express written consent from the administrator,” PKF said in a statement issued Tuesday seen by Khusoko. Persons or entities owed by Britania…

Nokia has teamed up with Safaricom, UNICEF and Kenya’s Ministries of Education and ICT, to connect close to 90 schools to the Internet in Kenya. The initiative aims to ‘connect the unconnected’, with the ultimate goal of supporting the Kenyan Government’s plans to scale broadband connection to all schools by 2030. The connected schools are spread across rural and informal urban settlements in Kenya, serving an estimated 32,670 students. The schools are using Nokia’s FastMile 4G Fixed Wireless Access (FWA) broadband solution to provide reliable, high-speed connectivity delivered over Safaricom’s 4G/LTE network. Nokia’s meshed WiFi Beacon technology is used to…

Finserve Africa Ltd, a subsidiary of Equity Group Holdings says it has upgraded its virtual mobile network platform status to offer 4G high-speed broadband services. The 4G high-speed broadband network offers faster speeds to browse, stream, download and upload for customers in line with current market demands. Finserve Africa Managing Director, Lanre Bamisebi, who is also the Equity Group IT and Operations Director, noted that the upgrade would enhance customer experience. “We are delighted to launch the Equitel 4G services in the market, in line with strengthening Equitel’s capability as a mobile virtual network operator (MVNO). The new Equitel 4G…

The absorption of Grade A and B office space in Nairobi increased by 64 per cent according to Knight Frank’s 1st Half 2021 Kenya Market Update report. The increase was attributed to the roll-out of vaccinations globally providing occupiers with confidence to resume looking at their occupational strategies. During the review period, prime residential rents declined at a slower rate of 6.02 per cent over the past 12 months to June, compared to a 7.62 per cent decline in a similar period last year.  This change was attributed mainly to the reopening of the economy, roll out of vaccinations and…

CIC Insurance Group on Wednesday reported a KSh259.5 million net profit in the half-year ended June 2021. The group had posted a net loss of KSh335.5 million the year before. The strong performance was boosted by resilient growth in the topline and strong investment returns it said. The Nairobi Securities Exchange-listed firm said its Gross Written Premium grew by 16% to KShs 10.8 Billion from KShs 9.3 Billion driven by growth in all businesses. “Investment income saw a marked improvement and this was mainly due to unwinding of prior year’s foreign exchange losses in South Sudan and gains from our…