The Chinese handset maker OPPO ‘s first 5G smartphone has passed 5G CE tests conducted by Sporton International Inc, a global inspection services authority. Kenya is currently, waiting for the 5G services to become available to consumers after the year 2020. Once the 5G technology is availed, it will be an exciting technology and communication breakthrough for the country and continent as the OPPO 5G product line will soon be introduced into the global market. “An integral step towards the commercial launch of its 5G smartphone in Europe, OPPO’s CE certification verifies that the 5G device is compliant with EU…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
The Kenyan Shilling remained stable by 1.1% on Friday to close at Kshs 100.8, from Kshs 101.8 at the end of December 2018 against the US dollar on non-traditional flows from diaspora remittances in Q1’2019. However, it depreciated marginally by 0.05% against the dollar to close at Kshs 100.8, from Kshs 100.7 during the week ending March 28, due to end-month demand from the energy and manufacturing sector exceeding dollar inflows from remittances. A positive trend was witnessed with diaspora remittance growth of 31%. “Diaspora remittances remained resilient in February 2019, with inflows amounting to USD 199 million compared to…
General Electric has appointed Brenda Mbathi as the Chief Executive Officer for its East Africa GE Subsidiary. In her role, Brenda will play a pivotal role in steering the next phase of strategy and growth for General Electric in East African markets, excluding Ethiopia which shall continue to be led by Daniel Hailu, CEO, GE Ethiopia. Based in Nairobi, Brenda will lead the development of diverse programs with public and private sector projects and partnerships across East Africa. General Electric Africa President and CEO, Farid Fezoua, reiterated GE’s commitment to work together with governments, the private sector and Non-Governmental Organisations…
Food and beverage price rises helped push inflation higher in March to 4.35% year-on-year compared to February’s 4.14% the Kenya National Bureau of Statistics said on Friday. On a month-on-month basis, inflation was 1.60%. Between February and March, food and non-alcoholic drinks index increased by 3.30%. KNBS says the increase was mainly due to the prevailing drought conditions causing the costs of some foodstuffs to be higher than in February. “However, prices of some food items were lower in March 2019 compared to March 2018,” said KNBS. ***** Despite the uptick in overall consumer prices, we expect headline inflation to…
Housing Finance Group has reported a pretax loss of Ksh 642,744 Million for the year ending 31st December 2018 hard-hit by a slowdown in the real estate sector and an increase of non-performing loans (NPLs). The mortgage provider said its NPLs rose to Ksh 8.7 billion from Ksh 5.2 billion during the period under review. Its total operating expenses increased to Ksh 4.2 billion up from Ksh 3.9 billion against total net income of Ksh 6.04 billion which declined from Ksh 7.1 billion recorded in the previous year. During the period under review, the group recorded an increase in non-performing…
Williamson Tea Kenya (Plc) has issued a profit warning that its earnings of the financial year ending 31st March 2019 are expected to be at least 25% lower than that of the financial year ended 31st March 2018. It cites uneven and unpredictable weather patterns and the inability to control rising labour costs. The Nairobi Securities Exchange (NSE) listed firm in November 2018, reported a Ksh85.1 million half-year loss for the period ended September 2018 as increased quantities of tea available for sale depressed the prices. “The amount of tea on offer remains high and unless this situation alters and…