Nokia says it has been selected by African mobile operator, Airtel Kenya in a three-year deal to modernize Nairobi with high speed 4G and 5G-ready hardware from its comprehensive AirScale portfolio. In a joint statement, they said the upgraded network will deliver enhanced connectivity to customers of Airtel Kenya and access to new, high-speed data services. According to the deal which will be executed from June, Nokia will supply Airtel Kenya with its AirScale Single RAN (S-RAN) portfolio for both indoor and outdoor coverage, including base stations and radio access products. D. Sarma, CEO, Airtel Kenya, said they are in…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
The Kenya Revenue Authority (KRA) held an online session to enlighten Kenyans on the implementation of the Digital Services Tax (DST), leaving participants with more questions than answers. The DST is expected to come to life in January 2021 but has already elicited sharp reactions from the players in the sector who feel the 1.5 percent imposed on online marketplaces and digital platforms will hit-hard on the already struggling sector. Digital Service Tax is payable on income derived or accrued in Kenya from services offered through a digital marketplace. According to Mr. Nixon Omondi from the Kenya Revenue Authority, the…
Nairobi Business Ventures (NBV), a local shoe and leather accessories retail chain operating under the K-Shoe brand, has listed an additional 415 million shares at the Nairobi bourse. This follows the completion of its restructuring process and the subsequent onboarding of Delta International (FZE) strategic investors. Delta International FZE, an infrastructural and industrial conglomerate acquired an 84 percent majority stake at Nairobi Business Ventures (NBV) for KSh83 million. NBV will now focus on manufacturing, importing, and selling raw materials used by cement and steel processors and other companies in the infrastructure sector. “Africa is the future of economic opportunities and…
Ethiopian Defense Force, a remarkable achievement from a defensive position to controlling atrocities directed at itself, and the state’s territorial integrity and rule of law in a matter of a couple of weeks. On November 4, 2020, the Ethiopian Prime Minister Abiy Ahmed Ali, the reformist, and the 100th Nobel Peace Prize winner in 2019 announced the heinous crime perpetrated by the in-combat Tigray regional state special force against the Northern Defense Force Command. On the national television, Ethiopian Broadcasting Corporation announcement, Abiy said “The northern command Defense force was attacked by Tigray regional special force in many parts of…
The Central Bank of Kenya (CBK) projects a 1.3 percent economic growth for 2020 from the 3.1 percent estimate disclosed in September. Governor Patrick Njoroge on Friday during the post MPC meeting said their analysis is anchored on the first and second quarter of the year. “If you use quarter one and quarter two, then you will have 0.6 percent,” Njoroge noted. The Governor said the country’s resilience in the second half of 2020 continues to be supported by agriculture, a recovery in manufacturing, exports, and services following the easing of COVID-19 restrictions.
Stanbic Holdings bank reported Friday that its Q3 profits declined by 29.4% to Ksh 3.6 billion from Ksh 5.1 billion. The lender said this was largely contributed by lower operating income which dropped to Ksh 16.1 billion from Ksh 18.4 billion last year and higher loan loss provisions which hit Ksh 2.9 billion from Ksh 1.7 billion in 2019.