Author: David Indeje

Switzerland’s pharmaceutical company, Novartis AG has opened its innovation hub, Novartis Biome Sub-Saharan Africa in Nairobi. This is with an ambitious goal of doubling its patient reach in the region by 2022 and increasing it five-fold by 2025. “Our goal is to provide every patient in SSA with affordable access to high-quality medicines and to ultimately transform healthcare in the region. For this, innovation and digital technologies have an immense potential to contribute, and with cross-sectoral partnerships, we can truly maximize the impact on the health of our people,” said Racey Muchilwa, President and Head, Novartis Sub-Saharan Africa. The hub…

Papa John’s International Inc, the world’s third-largest pizza delivery company plans to open 60 fast food outlets in Kenya and Uganda in 2022. In a statement issued Wednesday, its expansion will be through its franchise partner Kitchen Express Ltd, a subsidiary of AAH Limited, the majority shareholder of Hass Petroleum Group. Hass Petroleum Group operates 140 petrol stations in 10 African countries.  Under the deal, Papa John’s, which runs 5,500 restaurants in 50 countries, will open outlets at Hass’s properties in Kenya and Uganda starting with Nairobi. “Establishing ourselves in Sub-Saharan Africa for the first time presents a great opportunity…

Even as the Kenyan economy recovers from the shocks of the coronavirus pandemic, 41 per cent of businesses in the Manufacturing and Distribution financial leaders have yet to record their digital Return on Investments (ROI). Findings from the Manufacturing CFO 4.0 2021 Survey conducted by global software provider SYSPRO Africa and the Institute of Certified Public Accountants of Kenya (ICPAK) states that 31 per cent of leaders were yet to measure and investigate their business returns while 7 per cent were not sure if any returns were received. Additionally, 51 per cent of businesses considered management of cash flow to…

Exinity Capital East Africa Limited has expanded its business footprint in Kenya with the launch of its first product, Exinity Trader. Exinity Trader is the first of Exinity’s products to launch in Kenya and will be followed in early 2022 by its flagship mobile app Exinity World. Backed by over 20 years of experience in trading and investment, the company says Exinity Trader will simplify risk-driven trading and investing, enabling a greater number of individuals in the region to participate in trading and investment opportunities across markets and asset classes. The firm says Kenya is leading the way in technology,…

The National Treasury plans to raise Ksh.40 billion from the sale of FXD4/2019/10 (8.00 years) and FXD1/2018/20 (16.40 years) bonds in December. The papers carry a coupon rate of 12.280 per cent and 13.200 per cent respectively. The bonds are open until December 7. “The ticket size is smaller than previous issues of about Ksh 60.00 billion on average. This is consistent with the better revenue outturn, slower spending and potential support from the IMF,” NCBA Research analysts note. The government has borrowed Ksh 302 billion, approximately 49 per cent of the target.  “The sovereign could target to raise about…

Nairobi Securities Exchange (NSE) has announced the delisting of the  National Bank of Kenya from the bourse on 25th November 2021. “The delisting follows the successful takeover of 100 per cent shareholding by KCB  Group Plc and NBK shareholders’ approval,” the NSE said in a notice to the public. The move has been approved and issued by the Capital Markets Authority. Initially, KCB Group had said it would not delist the bank but suspend the stock from Sept. 2  2019 after NBK failed to list it as part of the resolution during the 14 June 2019 Annual General Meeting. NBK,…