Author: Muindi

Netflix Inc. reported strong fourth-quarter results, exceeding both revenue and earnings expectations. The company added a record 19 million paid subscribers, surpassing 300 million globally.  “We really have built the business on variety and quality across countries, across regions, across genres,” said Netflix co-CEO Ted Sarandos, highlighting the success of its content slate, including “Squid Game” Season 2, live sporting events, and a strong lineup of films.  Key Financial Highlights Revenue: Jumped 16% year-over-year to $10.25 billion.  Net Income: Increased to $1.87 billion from $938 million in the same period last year.  Full-Year Revenue Guidance: Raised to $43.5 billion to…

Nearly half of youthful Kenyans aged between 16 and 25 often reach for cereal as a snack, according to a survey by Weetabix East Africa. This trend is driven by a growing emphasis on health and convenience, with 40% of this demographic preferring on-the-go food options. “Generation Z’s shift towards healthier diets has led to a surge in demand for cereals with added nutritional benefits,” stated Dominic Kimani, CEO of Weetabix East Africa. He highlighted the increasing importance of convenience, nutrition, and health consciousness in influencing food choices. https://khusoko.com/2024/05/12/whole-grains-superfood-for-people-and-planet/ The survey also revealed that: Convenience is Key: Busy lifestyles and…

President William Ruto’s cabinet has approved the merger of 42 state-owned enterprises (SOEs) into 20, aiming to reduce costs and improve operational efficiency. During a Cabinet meeting by President William Ruto at the Kakamega State Lodge on Tuesday, the government agreed to dissolve nine corporations and divest 16 others. 𝗖𝗔𝗕𝗜𝗡𝗘𝗧 𝗥𝗘𝗦𝗢𝗟𝗨𝗧𝗜𝗢𝗡 President @WilliamsRuto chaired the first Cabinet meeting of 2025 at State Lodge, Kakamega, urging his Cabinet to seize the unique opportunity presented by the broad-based government to drive transformative change in Kenya. -… pic.twitter.com/5zg1M2MND5 — State House Kenya (@StateHouseKenya) January 21, 2025 “In an effort to streamline government operations,…

Safaricom (NSE: SCOM), in partnership with fund managers Standard Investment Bank (SIB) and ALA Capital Limited, has launched Ziidi MMF, a money market fund that leverages the convenience of M-PESA to provide customers with a simple, fast, and efficient investment platform. Ziidi MMF is a unit trust that allows customers to earn interest by investing funds directly from their M-PESA wallets. Interest earned is accrued daily to the Ziidi wallet, enabling investors to generate consistent returns. Since its public launch in December 2024, Ziidi MMF has attracted over 450,000 users and amassed over KES 2.85 billion in assets under management.…

Kenya’s Mumias Sugar has issued a Ksh150 million bonus to cane farmers, a significant step in the company’s recovery. This move coincided with calls from regional leaders for the government to expedite reforms in the sugar industry to safeguard Kenya from reliance on sugar imports. Mumias Sugar, which resumed full operations a year ago, has faced numerous legal challenges, primarily from West Kenya Sugar Company Chairman Jaswant Singh Rai, who opposed the lease of Mumias Sugar to his brother Sarbi Singh Rai of Sarrai Group. Recent reforms include the Sugar Act 2022, which re-established the Kenya Sugar Board, created the…

China Square has expanded its presence in Kenya with the recent opening of new stores at Two Rivers Mall and the upcoming launch at Greenspan Mall. This expansion follows the retailer’s successful entry into the Kenyan market in 2022 and reflects its strategic growth plans within the country. The new store adds to China Square’s growing network of outlets, which already includes locations in Kenyatta University’s Unicity Mall, The Waterfront, Karen Mall, Lang’ata Hyper Mall, and two outside Nairobi: Nyali Bazaar Mall in Mombasa and Kisumu’s Mega City Mall. “We see a lot of potential in this mall due to…