Author: Muindi

Jambojet will be launching charter operations, the airline’s top official said on Tuesday. Jambojet acting Managing Director Karanja Ndegwa said this is part of the airline’s strategy to diversify its product offering to supplement the scheduled operations.  “Due to the effects of the COVID-19 pandemic, we have seen a shift in consumer needs. Consumers now, more than ever, want privacy, convenience and their safety and well-being assured,” he said.  The airline is targeting business people, families, groups that may be attending social events such as weddings, corporates, missions and humanitarian bodies with operations outside of major towns to take up…

Kenya’s 1st ever locally manufactured ventilator has been certified by the standards bureau as a demonstration of the local manufacturing sector’s capacity. The ventilator, dubbed Pumuaishi 3.0, was developed by the Kenya Association of Manufacturers’ (KAM) Automotive Sector, led by Mutsimoto Limited. It was unveiled in April this year and has been undergoing standards evaluation for certification at the Kenya Bureau of Standards (KEBS). The ICU ventilator can be used by both pediatrics and adults weighing up to 180 kilograms. It can also run for at least 24 hours without power and can run on solar energy. The ventilator will…

African Diaspora Asset Managers Limited has been granted a fund manager’s license by the Capital Markets Authority (CMA). In a statement on Friday, CMA said the fund manager will offer financial products in asset management, unit trusts, financial investment management, discretionary portfolio management among other services.  ‘The asset management sector is an important component of capital markets. Some products offered by fund managers, for instance, collective investment schemes, are important because they provide an opportunity for small investors to have access to professionally managed, diversified portfolios of assets,” CMA Acting CEO Wyckliffe Shamiah said. African Diaspora Asset Managers Limited will…

Shelter Afrique’s shareholder Nigeria has injected 9.4 million dollars (Kshs 1.02 billion), taking its total investment to Ksh.14 billion ($129 million) from Ksh.12.3 billion ($114 million).  This is part of 29.43 million dollars (Kshs 3.16 billion) the West African country has committed to injecting into the financier. The contribution moves Nigeria to the second largest shareholding in the organisation with 14.77 per cent of the shareholding, behind Kenya with 14.87 per cent and ahead of the African Development Bank at 14.28 per cent. “This is a strong show of confidence in Shelter Afrique by member countries that the institution is…

Kenya ranks 115 in the Competitive Industrial Performance (CIP) Index Report, 2020 among 152 countries in terms of the ability to produce and export manufactured goods competitively.  Egypt and South Africa rank at positions 64 and 52 respectively whereas Tanzania is 123 and Uganda is position 128.  It further indicates that China, which is ranked second in the CIP Index report, is very strong in manufacturing due to the use of high technology which is applied by 30.6% of its manufacturers whereas only 9.3% are resource-based manufacturers.   Comparatively, Kenya’s manufacturing sector export structure is dependent on resource-based manufacturers at 42.9%…

The use of digital payments is soaring for Glovo, the on-demand delivery start-up, since the onset of the coronavirus pandemic in Kenya. The value of transactions witnessed on the Glovo platform saw cashless payments made by bank cards increase by 50 per cent and mobile payments by 14 per cent in Kenya. “During this period, we have witnessed changes in shopping patterns due to the shift in preferences by consumers hence this has helped us to focus more on addressing what the consumer needs,” said Glovo, general manager for Kenya Priscilla Muhiu. Deliveries and grocery orders rose by 30 per…