Author: David Indeje

Uganda ranks number one in East Africa, with 57 points in the Africa Financial Markets Index 2021. Kenya follows with a score of 47, Tanzania came third with 45, followed by Rwanda with 43 and Ethiopia with 25. The Africa Financial Markets Index evaluates financial market development in 23 countries and highlights economies with the most supportive environment for effective markets.  The index, produced by the Official Monetary and Financial Institutions Forum, is a non-lobbying network for best practices in the worldwide public-private sector exchanges.  In its fifth year, the index has introduced new indicators, the availability of sustainable finance…

Covid-19 public health restrictions, including mask mandates in public spaces, have been lifted across Kenya, Health Cabinet Secretary Mutahi Kagwe said Thursday. The Covid-19 measures have been in place since 2020.  “Our measures in conjunction with counties have saved lives. Based on guidance from World Health Organisation (WHO), we have contained the virus and as you can see in the last month, the positivity rate has been below one per cent,” Mr Kagwe said during a media briefing. “Kenyans are encouraged to wear face masks while attending indoor functions. We should now also see the temperature checks in public places…

The third leg of the Safaricom Golf Tour is taking place this weekend at the Muthaiga Golf Club. Over 200 amateur and professional golfers will be taking part in the 18-hole, corporate tournament on Saturday with over 100 junior golfers set to grace the course on Sunday. The Junior Golf tournament will also double up as a US Kids Golf local tour event, which kicked off with the Limuru leg of the Safaricom Golf Tour two weeks ago. https://twitter.com/SafaricomPLC/status/1501448013738299393?s=20&t=vJJ-eQN9uUwNAyHv2twOEQ “We have seen some exciting action over the first two legs of the inaugural Safaricom Golf Tour, especially with the junior…

Mobile money platform M-Pesa has crossed 30 million monthly customers in Kenya, a few days after it marked 15 years since its launch. Kenyan customers account for more than 30 million of the service’s 51 million customers across Kenya, Tanzania, the Democratic Republic of Congo, Mozambique, Lesotho, Ghana and Egypt. “M-Pesa’s success has been achieved on the back of consistent focus on the needs of our customers by ensuring that we are constantly delivering innovations that add value to their lives. We thank all our customers for getting us to the 30 million monthly active customers milestone. “As the country…

Equity Group has received the Central Bank of Kenya (CBK) approval to charge customers a maximum of 18.5 per cent on loans under its risk-based pricing model. Group Chief Executive James Mwangi said the risk-based pricing formula allows it to price loans at between 13 per cent and 18.5 per cent. He was speaking Monday during the launch of its Kshs. 678 billion (USD 6 Billion) Regional Private Sector Economic Recovery and Resilience Stimulus Plan. “We now have no excuse of leaving anybody behind because we can price risk within a reasonable range,” said Mwangi. “We have chosen to be…

Kenya and Moderna Inc have signed a memorandum of understanding to establish the first mRNA manufacturing facility in Africa. In a statement, Moderna says it expects to invest about $500 million in the Kenyan facility and supply as many as 500 million doses of mRNA vaccines to the continent annually.  “In parallel, Moderna is also working on plans to allow it to fill doses of its COVID-19 vaccine in Africa as early as 2023, subject to demand,” the company said. “This partnership is a testament to the capabilities of our community and our commitment to technological innovation. Moderna’s investment in…