Author: Muindi

Average tea prices at the Mombasa auction fell with a kilo selling at $1.65 (KSh178.12, driven by low demand and a huge supply.  This price was last seen in 2017. According to the East African Tea Trade Association (EATTA), the price of the commodity declined to KSh181 last week, down from KSh187. “Out of 13 million kilos available for sale, 10.3 million were sold while 20 per cent remained unsold,” said the EATTA. On the other hand, Tea exports rose 18.9 per cent in the first quarter of this year as compared to a similar period in 2020, according to…

Insurance group Jubilee Holdings increased its stake in Uganda’s hydroelectric power plant Bujagali,  to 40.9 per cent. Jubilee’s stake before the end of 2020 was 25 per cent before investing an additional KSh4.4 billion. The further investment in Bujagali is part of JHL’s strategy to hold a broadly diversified and conservative portfolio of investments. Bujagali was commissioned in August 2012, putting an end to years of constrained economic growth caused by an insufficient and unreliable power supply in Uganda. It remains the first independent power producer in Uganda and one of the largest Clean Development Mechanism projects. https://khusoko.com/2021/05/04/allianz-completes-acquisition-of-66-stake-in-jubilee-holdings/

The Betting Control and Licensing Board has extended the ban on advertising and gambling to September. According to the regulator, it is yet to conclude on the applicable frameworks to be used by betting firms.  “We are yet to come up with those modalities and it is a process we hope will take at least two more months to be ready for use by operators,” said the Board’s Chief Executive Peter Mbugi as quoted by the People Daily. https://khusoko.com/2021/05/18/why-the-rate-of-sports-betting-will-keep-rising-in-kenya/ In 2019, the Board banned outdoor and online advertising of gambling, as well as the advertising of the same between 6…

DStv Business has revamped its packages to cater for the different business entertainment needs of its commercial segment customers. The new and improved packages are called DStv Stay (formerly Accommodation package), DStv Play (formerly Pubs and Clubs package) and DStv Work (formerly called Office package). According to MultiChoice Kenya managing director, Nancy Matimu, the revamped DStv Business packages are designed to connect commercial customers within different industry sectors like hotels, pubs and clubs, offices, guest houses and serviced apartments customers growth, better cashflows and profits. “We remain true to our brand purpose of enriching lives as a clear purpose-led and technology platform…

Beneficiaries of the Wings to Fly Scholarship program, a signature program in Equity Group Foundation’s Education and Leadership Development pillar, who sat for the 2020 KCSE exams registered an impressive improvement in performance from the 2019 KCSE class.  In the recently released results, 203 Wings to Fly scholars managed to score a mean grade of A plain (A) and A minus (A-), forming part of the 7,313 finalists who topped in the national exams. Of the 203, 18 scored a mean grade of A plain (A) and 185 scored A-, while 1,410 out of a registered class of 1,640 attained university qualifying…

Brokerage firm EFG Hermes Kenya tied up with the Nairobi Securities Exchange (NSE) to launch a trading platform that provides real-time access to the equities market. The online equity-trading platform, EFG Hermes One, will offer retail investors seamless and convenient stock trading on the Nairobi Securities Exchange (NSE). EFG Hermes Kenya seeks to capitalize on Kenya’s high mobile phone penetration rate by leveraging digital channels to deliver efficient, convenient, and comprehensive services able to meet investors’ needs. “The launch of EFG Hermes One in Kenya forms part of our strategy to further extend our expertise and operational excellence, which has…