Author: David Indeje

Ndovu, an investment platform that provides easy access to financial markets, is looking to expand to other countries within the next three years after launching in Kenya on Wednesday. The expansion plans are projected to happen in three years aimed at onboarding over 1,000,000 in addition to its current users. The platform will enable its users to invest their money in a globally diversified portfolio. “Ndovu, which is available on both the Google Play and Apple App stores, provides users with easy access to global financial markets. It was founded upon the realization that current investment options in Kenya lock…

Unga Group and Dutch-based Nutreco International have closed a deal to form a joint venture partnership to meet the demand for animal nutrition products in the East African region. The partnership involves two joint venture deals in Kenya and Uganda following regulatory approvals. The 50:50 joint venture involve two indirect subsidies of Unga Group-Unga Farm Care (EA) Limited in Kenya and Unga Millers (U) Limited in Uganda. “We are proud to be partnering with Lingo Group, and working together to share our knowledge of the animal nutrition and aquaculture markets. Unga Group possesses great expertise in the East African region,…

Spanish delivery app Glovo ranks Kenya top when it comes to users making grocery orders compared to any other region where it operates. This is according to Narek Verdian, Chief Technology Officer at Glovo who says “Our users in Kenya order groceries more often than users in any other Glovo Country.” Through his LinkedIn page, he said he will be in Kenya together with Elisa Caballero (Global Head of Engineering Strategy and Ops) and Roldán Galán (Staff Software Engineer at Glovo) in the month. “Together with Elisa Caballero and Roldán Galán, looking forward to our upcoming trip to Kenya to…

Land prices in Nairobi suburbs increased by 0.34 per cent and in satellite towns, growth stood at 1.4 per cent for the fourth quarter of 2021 due to the general economic recovery, according to a study conducted by HassConsult. In Kilimani, prices continue to cool as investors go slow on the area due to uncertainty on whether the present infrastructure will support the new wave of developments the area is now attracting, thus weakening its appeal. “A few years ago, it was the exception for residential buildings to have a lift but today it is the norm. The new developments…

Kenya’s inflation declined to 5.39 per cent in January, mainly due to lower electricity and transport costs, according to government data released on Monday. The Consumer Price Index-based (CPI) inflation was at 5.39 per cent in January compared to 5.73 per cent in December 2021 the Kenya National Bureau of Statistics said. As per the data released by the KNBS, the CPI increased by 0.31 per cent from an index of 118.274 in December 2021 to 118.642 in January 2022 with the month-to-month Food and Non-Alcoholic Beverages Index increasing by 1.07 per cent between December 2021 and January 2022. During…

Kenya’s foreign exchange reserves declined by 8.715 billion dollars to 8.287 billion dollars in the week ended Jan 28, according to CBK data. In the previous week ended Jan. 20, the reserves were at 8.7 689 billion dollars.  The fall in reserves was due to higher demand for dollars from importers to meet their end-month. Besides the decline, the forex reserves remain adequate and continue to provide cover and a buffer against short-term shocks in the foreign exchange market.  The new reserves cover 5.07 months of import cover, down from 5.33 months of cover. “The usable foreign exchange reserves remain…