Author: David Indeje

Coca-Cola Kenya on Friday rolled out its worldwide brand philosophy and platform called Real Magic in the Kenyan market. Real Magic is the first new global brand platform for Coca-Cola since 2016 and was launched alongside a refreshed visual identity for the company, as well as a new perspective on the Coca-Cola logo. In Kenya, the company has been in existence for 70 years since 1951. “We continue to invest in the market. Over the last five years, for example, we put about $400 million dollars for the state of the art manufacturing and getting us great lines in play. But we…

Facebook Inc is now called Meta, chief executive officer Mark Zuckerberg said on Thursday. “Right now, our brand is so tightly linked to one product that it can’t possibly represent everything that we’re doing today, let alone in the future,” said Zuckerberg. Zuckerberg said the new name, coming from the Greek word for “beyond,” symbolized there was always more to build. He also said the new name also reflects that over time, users will not need to use Facebook to use the company’s other services.   Zuckerberg had said in July that over the next several years the company would transition…

Airtel Africa business reported a net profit of $192 million in the fiscal second quarter, which more than doubled year-on-year (YoY) and rose over 35 per cent sequentially. The profit growth was on the back of a sharp reduction in finance costs coupled with strong growth in data and mobile money revenues. Revenue for the quarter to September rose 20 per cent on-year and 4.31 per cent sequentially to $1.16 billion, the company said on Thursday. “Our first-half financial performance has been strong. The first half of last year, and especially Q1, was impacted by the start of Covid, but…

Africa’s Gross Domestic Product (GDP) risks contracting by up to 30 per cent by the year 2050 if action is not taken, Kenya’s President Uhuru Kenyatta. Kenyatta noted that climate change will have a devastating socio-economic impact across the world and quite severely in Africa.  “While it is relatively more difficult to design and implement adaptation projects and while fewer resources are currently available for adaptation, we should not lose sight of the fact that adaptation is, without doubt, smart economics,” he said. “An investment of $800 million in developing countries, in climate adaptation programs, would see and result in…

Betting firm Betika has extended support to the National Super League teams by donating kits for the season commencing on November 6. Betika says this is an addition to its 3-year Ksh 90 Million sponsorship for the league where teams will receive financial support to facilitate and uplift the game.  “We are steadfast in giving back to society. Since we came in as the sponsors, the Covid-19 pandemic has been the bottleneck to our efforts and I must say we shall not look back in supporting the league moving forward,” said Betika chief executive Nicholas Mruttu at the event held…

East African Breweries’ medium-term note has been oversubscribed by 245 per cent with the brewer receiving KSh37.9 billion. The brewer had targeted to raise KSh11 billion in debt in an offer that was open for 15 days beginning October 6, 2021.  “The fact that this achievement was delivered in the face of depressed economic conditions further signifies the belief investors have in our strategy as this business turns 100 next year,” said EABL Group CEO Jane Karuku. The funds will be used to finance investments in expanding production, repay debts taken in the ordinary course of business, refinance short-term borrowings…