Author: Khusoko

Kenya’s private sector growth rebounded in October, driven by a sharp increase in new business, according to the latest Purchasing Managers’ Index (PMI) data released by CfC Stanbic Bank and market research firm, IHS Markit. The Markit Stanbic Bank Kenya Purchasing Managers’ Index(PMI) for manufacturing and services rose to 54.0 from 52.7 the previous month. “The onset of the short rain season, which so far seems quite positive for the agrarian sector, could help GDP growth recover in the fourth quarter of 2018,” said Jibran Qureishi, the economist for East Africa at Stanbic Bank. “In particular, export demand grew rapidly,…

The first Polish plane – Lot Polish Charter – made its maiden landing in Mombasa with 252 tourists on Saturday a boon to Kenya’s tourism sector. Kenya Tourism Federation chairman Mohamed Hersi said “Mombasa is honored to welcome Lot Polish Airlines Charter aircraft by Tui Poland. Flying a Dreamliner to Mombasa is a clear testimony that Destination Mombasa and Kenya Coast is back in business.” https://twitter.com/MagicalKenya/status/1058783323697397760 The charter will fly to Mombasa twice a week translating to about 500 visitors to the Kenyan coast every week. Read: Jambojet Increases Nairobi-Mombasa Flights to 7 Daily  Qatar Airlines Unveils Four Weekly Flights…

Kenya is in China represented by President Uhuru Kenyatta where leads a delegation of traders to the China International Import Expo (CIIE), during which a deal on horticultural exports will be signed. On Sunday, President Kenyatta met with the President of China Xi Jinping in Shanghai, China. “Our talks focused on promoting economic and trade exchange and cooperation between our two countries ahead of the inaugural China International Import Expo (CIIE),” said Uhuru. “Access to the Chinese market will have a positive impact on the lives of common people and this will help counter any negative propaganda peddled by detractors of our…

A report released by Tala Kenya shows that their customers are well educated with higher incomes than the typical microfinance client. “They are between 25-34 in age and part of the emerging middle class, earning $2-$19 (Ksh 200 – Ksh 1900) per day. Most are steadily employed or entrepreneurs with small or micro-businesses,” reads part of the Tala’s Impact Study that sought to assess their impact in two categories: immediate impact and long-term impact. The study found out that close to 90% of their customers experienced significant unexpected financial expenses in the past year, with 34% having more than one.…

Suluhu Umbrella Scheme, allows members to port their medical cover through their pension and income drawdown in one platform. Kenya is set to have regulations in place to boost medical care for retirees according to the Retirement Benefits Authority (RBA). Nzomo Mutuku, chief executive officer RBA, says the authority has initiated a consultative process to develop guidelines to govern the Post-Retirement Medical Fund (PRMF). “The draft guidelines have gone through an elaborate stakeholder consultation process and were exposed to the discussion by members of the public nationwide. The guidelines were subsequently approved by the attorney general and the national treasury…

Oliver Gayer has been appointed General Manager of the InterContinental Hotel in Nairobi. He replaces Dieter Franke who has been appointed as the Area General Manager at the Intercontinental Hotel Group (IHG) portfolio in Egypt. “I am very excited to be appointed as the General Manager of InterContinental Nairobi; a landmark business hotel that is soon celebrating its 50th anniversary, after having opened doors in 1969. The InterContinental Nairobi is committed to achieving even higher levels of customer and other stakeholders’ experience in our services and relationships,” Mr. Geyer said. He has extensive experience of over 23 years in the…