Author: Muindi

Nine startups from the inaugural cohort of the Safaricom Spark Accelerator Program participated in an investor demo day on Friday. This event marked the culmination of their program participation and was a milestone for showcasing their achievements and potential to prospective investors. The investor demo day, the final phase of the accelerator program, aimed to facilitate funding opportunities for the nine startups from leading venture capital funds. “At Safaricom, we believe technology is a catalyst for change and solutions, and that’s why we incentivize and support innovative startups with the tools they need to reach the next level.  Through the…

Standard Chartered Bank Kenya will issue a dividend payout of KSh 45 per ordinary share, a substantial 55% increase compared to the previous year. This remarkable distribution follows a year of exceptional financial performance, with the bank’s net profit surging by 45% to KSh 20.06 billion. CEO and Managing Director, Kariuki Ngari, attributed this success to a “record performance in 2024,” driven by “strong topline growth, good business momentum and excellent execution of our strategy.”   The dividend comprises a final payment of KSh 37 per share, supplemented by an interim dividend of KSh 8. The total dividend payout to…

Kenyans working abroad sent Sh5.8 billion less in remittances in February 2025 compared to January 2025. The Central Bank of Kenya (CBK) data shows remittance inflows for February 2025 totalled $382.2 million (Sh49.5 billion), a 10.6 per cent decrease from January’s $427.4 million (Sh55.3 billion). Compared to February 2024, when inflows totalled $385.9 million (Sh50 billion), this represents a one per cent decrease. “The cumulative inflows for the 12 months to February 2025 increased by 14.5 per cent to $4,956 million (Sh641.8 billion) compared to $4,330 million (Sh560.7 billion) in the 12 months to February 2024,” the CBK stated in…

The Kenya National Examinations Council (KNEC) has published the 2025 Kenya Certificate of Secondary Education (KCSE) examination timetable, scheduled from October 21 to November 21, 2025. This early release aims to provide stakeholders with ample time for review and feedback. Key Dates and Schedule Registration Deadline: March 28, 2025. Candidate data will be shared post-registration. Practical Examinations: October 22-October 31, 2025 (Home Science, Art and Design, Woodwork, Metalwork, etc.). Written Examinations: November 3–November 21, 2025. First session papers begin at 8:00 a.m., second session papers at 2:00 p.m. Specific paper timings are indicated on the timetable and question papers. Project…

The Sudanese Ministry of Trade and Supply has enacted an immediate ban on all imports from Kenya, citing Kenya’s decision to host leaders of the Rapid Support Forces (RSF). The ban, detailed in a ministerial letter, is a direct response to perceived Kenyan support for the RSF, which is engaged in an ongoing conflict with the Sudanese Armed Forces.  The decision is based on Cabinet Resolutions 129 of 2024 and 104 of 2021, and recommendations from a Sovereignty Council committee tasked with addressing Kenya’s hosting of the RSF. “The import of all products coming from Kenya through all ports, crossings,…

OLA Energy Kenya has announced a restructuring plan, including workforce reductions, aimed at improving profitability and increasing market share over the next five years. The company cites challenging operating conditions and the need to reduce fixed costs as primary drivers for this decision. Since early 2024, OLA Energy Kenya has implemented a “rescue action plan” to address its financial trajectory, focusing on sales growth and cost reduction. The restructuring is a continuation of these efforts. “It is with deep regret that we must implement a redundancy program,” stated OLA Energy Kenya in a press release. The company emphasized that the…