Author: Muindi

CDC Group, United kingdom’s impact investor and development finance institution (DFI) says it will invest over US$1 billion (KSh110 billion)  in African businesses in 2021. The funds will be invested in financial institutions, infrastructure and climate, services, manufacturing, agriculture, real estate and technology. In 2020, CDC committed over $1 billion into Africa focusing on economic recovery from COVID-19. CDC announced the plans at the UK-Africa Investment Conference to expand its Africa portfolio with new investments in key markets including Egypt, Ethiopia, Kenya, Nigeria and other frontier markets in the continent. CDC has invested more than £2.7 billion in African businesses…

Kenya’s National Treasury says it has provided an additional Ksh 24.6 billion to the 47 county governments as part of the equitable share. This is an addition to the Ksh 120.2 billion from the Ksh 133 billion for the fiscal year 2020/21. Treasury says now Counties hold balances of Ksh 61.4 billion at the Central Bank of Kenya. “The total balances for the various county governments now held at CBK amount to KSh61.4 billion, and in this respect, we once again appeal to them to make full and timely use of these funds, as additional disbursements from the exchequer are…

Equity bank Kenya has secured a $50 million (Ksh 5.48 billion)  loan guarantee from Dutch Development Bank FMO, for onward lending to micro-, small and medium-sized enterprises (MSMEs). This is the  second NASIRA guarantee with the support of EU funding.  Linda Broekhuizen, CEO  of FMO said, “We are very happy to be able to support Equity Bank Kenya in weathering the COVID-19 storm. Funding for MSMEs is essential in lessening the impact of the pandemic on people’s livelihood and their communities. Together with the Capacity Development project we are confident small entrepreneurs will get much needed support.’’  The NASIRA loan…

The Kenya Airports Authority (KAA) has announced a Ksh.963 million rehabilitation project for the Jomo Kenyatta International Airport (JKIA) terminals 1B and 1C.  The 12-month project is aimed at refurbishing the departure halls to improve the check-in, security screening, retail operations, and passenger lounge experiences.  “The refurbishment and facelift of the terminals aim to align the passenger experiences to match what is offered at terminal 1A. The remodelling project is an integral part of the ongoing JKIA Customer Service Improvement Plan (CSIP),” said Acting KAA Managing Director Alex Gitari.  The refurbishment is part of the JKIA expansion strategy which seeks to boost the capacity of…

Universal Music Group (UMG) the world leader in music entertainment, has strengthened its presence in Africa through a new leadership to support and grow the continent’s domestic music ecosystems. The company says this will also help in creating new opportunities for African talent to reach new audiences globally. To help lead in the expansion, Sipho Dlamini has been promoted to CEO, Universal Music South Africa and Sub-Saharan Africa.  Dlamini will continue to oversee all of UMG’s operations within English-speaking Africa. In his new role, Dlamini will continue to work closely with Adam Granite, UMG’s EVP, Market Development, to identify further…

The Kenya Bureau of Standards (KEBS) has adopted eleven standards allowing Kenyan cosmetics products to access regional markets.  The new standards will also ensure the quality, fitness for use, and safety of the cosmetics to the consumers by controlling specific crucial parameters such as raw material requirements, and limits for heavy metal and microbiological contaminants. “The new standards will facilitate trade in cosmetic products produced within the Partner States in the East African Community by use of harmonized standards,” says Lt Col (Rtd.) Bernard Njiraini, Managing Director, Kenya Bureau of Standards. Some of the products covered in the standards include…