Author: Khusoko

The Kenyan Shilling appreciated marginally against the US Dollar to Kshs 100.7, from Kshs 100.8 the week ending April 4., mainly on account of subdued greenback demand. The Shilling has appreciated by 1.1% year to date. According to Cytonn Investments, “The shilling should remain relatively stable to the dollar in the short term.” At the Interbank Foreign Exchange, increased to 3.56% on April 4 from 3.06% on March 28. “The average number of interbank deals remained unchanged at 9 while the value traded increased to KSh 2.61 billion from KSh 1.87 billion in the previous week,” according to the Central…

Kenya Bureau of Standards (KBS) has lifted the suspension of the Nuteez peanut butter brand after Jetlak Foods Ltd addressed the gaps that were identified with regard to control of incoming raw materials, production process and final product testing. “Suspension of the Standardization Mark permit no. 965 for Peanut Butter branded Nuteez has been lifted,” KEBS said. “KEBS shall continue to monitor the effectiveness of Jetlak Foods Ltd controls for the peanut butter product through market surveillance, factory inspections, and testing,” the statement reads. The move comes two months after the peanut butter was recalled for aflatoxins contamination. Investigations had…

Imperial Bank depositors can now access 12.5% of their deposits after the Central Bank of Kenya and the Kenya Deposit Insurance Company (KDIC) accepted the final offer from Kenya Commercial Bank (KCB) group. The Central Bank of Kenya (CBK) and Kenya Deposit Insurance Corporation (KDIC) announced the acceptance of the binding offer on December 11, 2018. In a statement, KDIC and CBK said the depositors would access the funds in another two weeks subject to verification. “The accepted Final Offer includes a further recovery of 19.7 percent of eligible depositor balances remaining at IBLR. CBK and KDIC assess that KCB’s…

Chukua Selfie, a Menstar coalition campaign encouraging 18-24-year-old men to know their HIV status through self-test, has entered into a partnership with the Kenya Rugby Union as a Shirt sponsor for the two legs of the World Rugby Sevens Series 2018/19 season. The Kshs.14million deal will see Chukua Selfie sponsor the Hong Kong/Singapore and London/Paris legs. This partnership will see the Shujaa front of shirt branded with the Chukua Selfie. Chukua Selfie Brand representative Eric Achola said: “We chose rugby because it is widely followed by our target audience, we want to remind all the young men that even as…

President Uhuru Kenyatta said Kenya’s economic growth in 2019 will rise to 6.3% from an estimated 6.1% last year. In a state of the nation address to the National Assembly and the Senate, the President said: “In 2019, we expect an even stronger growth of 6.3%, reflecting continued improvement in the business environment, momentum associated with execution of the Big Four Agenda, and sustained macroeconomic stability.” In 2018, provisional estimates show the economy grew by 6.1% largely driven by the wholesale and retail trade, real estate, information and communication, and tourism. “It is worth noting that, despite the challenges facing…

As part of efforts to ensure its subscribers enjoy an entertaining Easter holidays Pay-TV vendor StarTimes  has reduced subscription rates by half and added six more channels in what was described as ‘extending value for money to our Classic bouquet subscribers’. StarTimes director of marketing Japhet Akhulia said the changes are expected to lead to a stronger subscriber offer in terms of price and content. “We have made strategic improvements by adding six more channels key in extending value for money to our Classic bouquet subscribers,” he said on Wednesday. “These strategic changes are mainly geared towards growing our subscriber…