Author: David Indeje

Companies in Kenya are less optimistic that the country’s economic growth will gain traction in 2022, according to the latest PMI data besides witnessing an expansion to a 14-month high in December.  The Stanbic Bank Kenya Purchasing Managers Index-PMI says the pace of growth was the strongest seen since October 2020 on improving customer demand and better cash flow as economic conditions recovered further from pandemic measures. The headline figure derived from the survey is the Purchasing Managers’ Index™ (PMI). Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration.…

BlackBerry Limited will stop running support for its devices from Jan 4, 2021. In a statement, it said, devices running BlackBerry software – classic devices running BlackBerry 10, 7.1 OS and earlier models – “will no longer reliably function, including for data, phone calls, SMS and 9-1-1 functionality.” “As a reminder, the legacy services for BlackBerry 7.1 OS and earlier, BlackBerry 10 software, BlackBerry PlayBook OS 2.1 and earlier versions, will no longer be available after January 4, 2022,” it said in an updated statement on Dec 22, 2021. In 2016, BlackBerry said it would no longer manufacture BlackBerry devices. In…

German food delivery group Delivery Hero said on Friday it had signed an agreement to acquire an additional 39.4 per cent stake in Spanish delivery app Glovo. Delivery Hero currently holds approximately 44 per cent interest on a non-diluted basis. According to the agreement, in exchange for the Glovo shares, Delivery Hero will issue its own shares to the sellers at a fixed exchange ratio that implies a Gross Merchandise (or Market) Volume valuation of Glovo in line with Delivery Hero’s current trading levels. “The closing of the transaction is subject to certain customary conditions and regulatory approvals, including merger…

Kenya’s annual inflation eased to 5.7 per cent in December from the previous month’s 5.8 per cent, helped by lower fuel costs attributed to the ongoing government subsidy, as per data released on Friday. Fuel prices for the period 15th December 2021 to 14th January 2022 remained unchanged at Ksh 129.7 per litre for Super Petrol, Ksh 110.6 per litre for Diesel, and Ksh 103.5 per litre for Kerosene which has had an impact on the inflation basket. “This was mainly due to an increase in prices of commodities under; food and non-alcoholic beverages (9.09%); transport (8.10%); and housing, water,…

The Kenyan economy picked up in the third quarter of the year following the easing of pandemic restrictions, the statistics body said Friday. The country’s gross domestic product in the quarter grew 9.9 per cent on-year, data released by the Kenya National Bureau of  Statistical Office on Friday showed, compared to compared with a contraction of 2.1 per cent the same period in 2020. “Economic recovery from the effects of COVID-19 pandemic continued in the 3rd quarter of 2021 as a result of easing of containment measures. Real GDP grew by 9.9 per cent in the 3rd quarter. This follows…

Kenya’s National Cereals and Produce Board (NCPB) on Wednesday said it will be buying maize from farmers at the price of Ksh 3,000 per 90kg bag. This is a KSh 650 increase from the previous purchasing price of KSh2,350 per bag of maize as of Dec 7, 2021  which comes as a ‘relief’ for farmers despite the high cost of inputs. “The price we are offering will enable farmers to get value for the maize they deliver due to the accuracy of our weighing services,” Joseph Kimote, NCPB managing director said adding that payment for maize will be effected within…