Kenya on Sunday extended the nationwide 10 pm to 4 am curfew for another 60 days. This is effective from May 28 to stop the spread of coronavirus infections. The curfew which currently runs between 10 pm and 4 am will be in place until 27 July. “This Order shall apply during the hours of darkness between ten o’clock in the evening and four o’clock in the morning with effect from the 28 of May 2021 and shall remain in effect for a period of sixty days thereof,” read a legal notice dated May 28, 2021, signed by Interior CS…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Outsized external inflows from international financial institutions and commercial financing are expected in the coming month. This flash note assesses the lumpy inflows against the FY20/21 budget outturn. We estimate an aggregate KES 264.1Bn from both multilateral and commercial financing (Eurobond IV). (Figure 1) that is expected in the final month of this fiscal year (June 2021). Undoubtedly, these flows will support KES stability in the near term. As per our 10M20/21 Fiscal performance topical note, we noted external financing in April increased by KES 46.7Bn, which comprised of KES 33.7Bn initial IMF disbursement for its ongoing 38-month program with the remainder (KES 13.0Bn)…
Flora Mutahi, accountant, entrepreneur, and corporate guru, is the new Board Chairperson of Kenya Private Sector Alliance (KEPSA), the first female to occupy the position. Jaswinder Bedi will serve as the Board Vice-Chairman. Ms Mutahi is part of a new leadership team picked during the lobby group’s 17th Annual General Meeting, which was held virtually. Mutahi is a former chairperson of the Kenya Association of Manufacturers and founder and CEO of Melvin Marsh International Limited. “My appointment as the first-ever female chair is a testimony to Kepsa taking a giant step in the right direction of entrenching inclusivity and meritocracy…
Safaricom has unveiled a new data campaign that will see customers enjoy free data every day customised to their usage profiles. As part of the campaign, customers can redeem free daily internet offers tailored to their use by dialing *544# every day for the next 90 days. The campaign seeks to empower more customers to take their offline passions online as part of the country’s digital transformation agenda. According to data from the Communications Authority, the country has 25 million mobile broadband connections meaning about 60percent of mobile phone users barely use the internet. “Smartphones and the internet have become…
Sidian Bank, a mid-tier bank focusing on SMEs made a consolidated net profit of Ksh 114million as at 31 March 2021 compared to a net loss of KSh7million same period in 2020. The improved profitability was attributed to increased lending in the period which grew interest income on loans as well as lending fees. Transactional and channels business also increased in the period enhancing the profitability. Further, loan impairment provisions booked in the quarter were lower by 58 per cent attributed to the improved loan book quality and loan collections. The impact of the increased incomes was however countered by…
Fintech startup KOA Save Africa Limited and venture capital firm Moneto Ventures Limited have been admitted to Kenya’s Capital Markets Authority (CMA) Regulatory Sandbox. The two firms will test their innovations in a live capital market environment in compliance with the CMA Regulatory Sandbox Policy Guidance Notes (PGN). KOA Save Africa will test its test KOA App. The innovation seeks to help retail investors quickly, conveniently, and affordably save and invest in the capital markets. KOA App is accessible to iOS and Android mobile users. The fully digital mobile application was to embed several collective investment schemes focusing on money…