Author: David Indeje

East Africa’s investment firm Centum posted a loss of Ksh 1.37 billion for the financial year ended March 31, 2021.    This is compared to KSh 4.63 billion net profit posted in the previous financial year.  The drop was attributed to its loss-making subsidiaries which posted a loss of KSh 1.9 billion. In March, it issued a profit warning citing the coronavirus pandemic and lower disposal of investments to hit its profits.  As a result, the company said in its financial statement that: “The boards of Two Rivers Development Limited (TRDL) and Two Rivers Lifestyle Centre (TRLC) have initiated steps to…

The Central Bank of Kenya (CBK) says it is committed to enhancing the effectiveness of its monetary policy framework. “Despite the tremendous achievements so far, some issues remain to be addressed…” Dr Patrick Njoroge, CBK Governor says in the 72- page White Paper. The White Paper outlines additional reforms termed necessary to ‘fully adopt a forward-looking monetary policy framework’. “These reforms will enhance the effectiveness of monetary policy and support better anchoring of inflation expectations in view of the changing economic and financial environment,” the MPC said. The monetary policy framework will be supported by reforms aligning it to the new…

Kenya’s tea exports rise marginally in May  to 50.76 million kilograms The tea sector is bracing for a decline in production besides increased export volumes already witnessed for the five months of the year, according to the Tea Board of Kenya (TBK). During the period, tea exports in May rose to 50.76 million kilograms from 49.45 million in April. The total export volume for the five months period of 2021 was 19 per cent higher at 253.51 million Kgs, compared to 212.53 million Kgs recorded during the same period in 2020. Moreover, tea production rose to 45.32 million kilograms, up…

British American Tobacco Kenya plc (BAT Kenya) is building diversity across its operations in East Africa aimed at promoting inclusivity with a focus on gender. In advancing the Company’s Gender diversity agenda, it has launched the Women in BAT – East Africa Markets network.  “This is a key milestone in one of our key diversity pillars: Gender parity,” BAT Kenya said. “And we are not yet there.  We are working hard, through initiatives such as the Women in BAT Network, to reach our goal of 50/50 gender representation in all spheres of the organisation.” Listed on the Nairobi Securities Exchange,…

The Cestobal Kenya Federation is now officially active in the country, following a period of training coaches and technical officials and promoting the game since December 2020. “Cestoball is a new sport,” said Lawrence Adera, President of the Cestobal Kenya Federation, during the launch at Nyayo National Stadium on July 10, 2021. He added that the sport has significant potential in Kenya and will create numerous opportunities, particularly in talent development. Cestoball, an Argentine sport created by Professor Enrique Romero Brest, is similar to netball but uses a ball akin to a handball. The sport can be played both indoors…

Kenya and South Sudan have waived visa and work permits for their citizens, showing their resolve to mend ties. This means South Sudanese travelling to Kenya will be able to enter for free, as long as they have a valid passport and meet other health conditions for travellers. “Premised on the principle of reciprocity, the Republic of South Sudan has also waived visa requirements for Kenyans wishing to visit their country,” Kenya’s Ministry of Foreign Affairs statement read in part. During the 21st ordinary summit of the heads of states of countries in the East African Community, President Uhuru Kenyatta…