Author: Khusoko

Telecommunications firm Safaricom has said it will fund Denis Muthii’s dream to study Mechanical engineering at an Institution of his choice in appreciation for him being their 30th million customer. The 19-year old from Kimunye in Kirinyaga County will also receive a mechanic toolkit, a year’s worth of All in One bundle at Ksh 10,000 per month, Ksh 10,000 worth of airtime per month for a year, and a Samsung Note 9 among other gifts. “We are deeply humbled and honored that Denis and more than 30 million customers have chosen Safaricom as their preferred service provider. The trust that…

A magnitude 4.8 earthquake that struck in Kenya caused fault lines along the Naivasha – Mai Mahiu Road, at Fay Amario, about 8km from Naivasha, Mai Mahiu bound. The Sunday evening light Earthquake was said to be of magnitude 4.8 on the Richter scale in South Eastern Kenya at 7:21pm. The depth was 9.54km, with its epicenter in Wundanyi, Taita-Taveta County, according to the Kenya Meteorological Department. “There is no damage expected for a minor earthquake of magnitude between 4-4.9 on the Richter scale. Residents at the Coast are urged not to panic as the epicentre was not from the…

The key Kenyan equity market indices closed higher despite NSE (Nairobi Securities Exchange) 20 share index NSE 20 likely attributable to a dip in BAT’s price (-5.2% w/w). During the week, NASI and NSE 25 gained by 1.2% and 1.0%, respectively, while NSE 20 declined by 0.3%, taking their YTD performance to gains of 13.9%, 1.9% and 12.0% for NASI, NSE 20 and NSE 25, respectively. EABL was the top five traded highest gainer (+2.9%), owing to buying interest from the foreign desk while Kenya Re-Insurance recorded the highest loss in its share price (-13.7%), among the top movers in…

Peter Tabichi, a maths and physics teacher at Keriko Secondary School, Nakuru County, Kenya, has won this year’s $1m Global Teacher Prize in Dubai. According to Varkey Foundation, Global Teacher Prize awards ‘real superheroes’ who are real champions for change, inspiring millions of learners across the globe. In the recognition, Mr. Tabichi is recognised for his contributions as a science teacher who gives away 80 percent of his monthly income to help the poor. “His dedication, hard work and passionate belief in his student’s talent has led his poorly-resourced school in remote rural Kenya to emerge victorious after taking on…

Kenya’s official foreign exchange reserves fell slightly in the week as the shilling witnessed turbulence due to increased dollar demand from oil and merchandise importers. Official data from Central Bank of Kenya (CBK) shows that the reserves now stand at $ 8,321 billion, equivalent to 5.45 months of import cover in the week ending 21-March. “The CBK usable foreign exchange reserves remained adequate,” said the CBK adding that, “This meets the statutory requirement of maintaining at least 4 months of import cover, and the EAC region’s convergence criteria of 4.5 months of import cover.” In the week ending March 14,…

Cytonn Investments and  Commercial Bank of Africa Limited economic analysts expect the Monetary Policy Committee (MPC) to keep interest rates on hold. The MPC meets on Wednesday, 27th March 2019, to review the prevailing macro-economic conditions and make a decision on the direction of the Central Bank Rate (CBR). According to analysts, the stability in markets over the last couple of months reveals an economy at its ‘sweetest spot’. Inflation and the exchange rate are stable and forecasts reveal a fair level of confidence in the economy. “While the impact of this stability on businesses has been debatable, the enviable…