Author: David Indeje

Kenya Mortgage Refinance Company (KMRC) has commenced the sale of its Kshs 10.5 billion medium-term bond programme. The cash raised will be disbursed to participating primary mortgage lenders (PMLs), for onward lending to mortgagers.  The note will have a tenor of seven years, with amortization and a fixed rate of 12.5%, KMRC said in a statement. The first KSh1.4 billion tranche will be on sale until Feb. 18. The note’s allotment will be announced on Feb. 22 before being listed for trading on the Nairobi Securities Exchange on March 14. “Through this issuance, KMRC seeks to build its profile as…

Airtel Africa Plc says its revenue and net profit rose on year in its fiscal third quarter to $514Million on Friday.  The telco’s revenue grew by 21.7% to $ 3,492 Million with underlying revenue growth recorded in Nigeria up 29.0%, East Africa up 24.4% and Francophone Africa up 19.0%; and across all key services, with revenue in Voice up 16.1%, and in Data and Mobile Money both up 37.2%. Basic Earnings Per Share, a measure of the firm’s profitability was 11.7 cents, an increase of 113.8%, largely as a result of higher profit. EPS before exceptional items increased to 11.5…

Multichoice Kenya on Thursday inaugurated its new branch at Capital Center in Nairobi, making it the fourth physical touchpoint in the capital. The Capital Center branch will serve both DStv and GOtv customers and is located on the Ground Floor along Mombasa road. The opening of the branch is a strategic move to ensure customers can easily access service points across the county. It will be open during the weekdays from 8 am – 9 pm and at weekends from 9 am – 9 pm. The branch will serve customers in Makadara, Southlands, Langata, Kitengela, parts of Athi-River and Syokimau,…

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…