Wanjiru Mbugua Karani, the Secretary General of Tennis Kenya, has been elected as the first female president of Eastern Africa. This achievement also marks her as the second African woman to hold the position of Vice President in the Confederation of African Tennis. “I am extremely excited to be the first woman president of this zone and the second one in Africa, which means a lot. My passion for the game means I am the right person for this job, and I promise to do my best. I always try to give more than 100%, and I promise to continue…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Kenya will abolish the visa requirement for all Africans travelling to the country, a step towards fostering economic inclusion on the continent. “As Kenya, by the end of this year, no African will be required to have a visa to come to Kenya,” said President William Ruto at the Summit of the Three Basins on Biodiversity Ecosystems and Tropical Forests in Brazzaville, the Republic of Congo. “We have visa regulations left, right, and centre. Twenty-seven countries in Europe today, with 430 million people, have removed visas. We still have visas. Let me persuade us that it is time we on…
The Kenya Electricity Generating Company PLC (KenGen) reported a 48% increase in profit after tax for the year ending June 30, 2023, rising to Ksh 5.02 billion from Ksh 3.4 billion the previous year. Revenues also grew by 14%, from Ksh 47.48 billion in 2022 to Ksh 53.96 billion, attributed to the company’s investments in geothermal energy. KenGen’s Managing Director and CEO, Peter Njenga, attributed this performance to the improved operational efficiency of the company’s geothermal fleet in Olkaria, Naivasha. This was further boosted by the positive impact of the newly commissioned Olkaria I Additional Unit 6 geothermal power plant,…
Kenya Power reported a net loss of Ksh 3.2 billion for the fiscal year ending June 30, 2023. However, its operating profit improved from 17.1 billion to 19.2 billion. “The positive performance above was eroded by exceptionally high finance costs, which increased significantly by 89% from KShs 12.76 billion to KShs 24.15 billion, mainly driven by the depreciation of the Kenya shilling against major international currencies,” KPLC says in its audited financial statement. “In the period, the Kenya Shilling depreciated by 19% from KShs. 118 per USD in June 2022 to KShs. 140 per USD in June 2023,” the utility…
The Nation Media Group (NMG) has warned of an expected decline in full-year profits for the year ending December 2023. This decline, anticipated to be more than 25%, is attributed to a challenging business environment. NMG attributes the expected profit drop to tough economic conditions in the country. “Like most sectors of the economy, media business, particularly in Kenya, has been adversely impacted by headwinds mainly attributable to the relentless increases in prices of basic commodities, a drastic rise in fuel prices, runaway depreciation of the Kenya Shilling, rising interest rates, and higher taxes,” read the statement. Additionally, global price…
MFS Africa, a leading pan-African digital payments network, has formed a partnership with Mvola, a major mobile money provider in Madagascar. This collaboration aims to facilitate inbound international money transfers, promoting financial inclusion and economic development in Madagascar. As part of this partnership, MFS Africa will become the first aggregator to integrate with Telma’s mobile money wing, Mvola. Telma is one of Madagascar’s leading Mobile Network Operators (MNOs) with a 70% market share. This integration will enable the seamless transfer of remittances from Europe, the US, and the UK. It will also facilitate MNO-to-MNO remittances from Africa to Madagascar. Nika…