Author: David Indeje

Linkham Group a UK based insurance firm on Thursday, said it has completed the acquisition of Resolution Insurance. In February, Linkham Group increased its shareholding in Resolution Insurance after the purchase of 100 per cent of the equity holding in the Kenyan insurance company from private equity impact investment firm, Leapfrog Investments.  Linkham Group Chief Executive Officer Michael Cranfield said the acquisition is part of the Mauritius headquartered firm’s Africa expansion plans. “As part of the acquisition, we are committing to invest in the business and have consequently appointed Peter Nduati to spearhead management and business growth efforts with immediate…

Ethiopian Communications Authority (ECA) has issued a new Telecommunications Operator License to the Global Partnership for Ethiopia. GPE is a partnership between Vodacom Group, Vodafone Group, Sumitomo Corporation and CDC Group, led by Kenya’s Safaricom. According to ECA, the Telecommunications Operator License has been given to “The Global Partnership for Ethiopia” which has registered its local company with the name: Safaricom Telecommunications Ethiopia PLC. “Hence, the ECA has granted a nationwide full-service Unified Telecommunications Service License to the Safaricom Telecommunications Ethiopia PLC effective from 9 July 2021, valid for a term of fifteen (15) years from the Effective Date, and…

Kenya received only 305,635 international tourists in the period between January 2021 to June 2021,  a fifth of the two million it received in 2019, Tourism Minister Najib Balala. Speaking on Thursday while launching the Tourism Research Institute’s international tourism performance report, he said the industry is encouraged by the numbers though still low.  “We are encouraged by the numbers although we are not there yet,” he said adding that “We understand this is because of the Covid-19 pandemic and the lockdowns that ensued which affected the travel trends this year.” In 2019, the country’s tourism industry registered improved performance…

Fuel prices remain unchanged in all the major towns in Kenya over the next month to August 14, 2021, on Wednesday, according to the latest review from the Energy and Petroleum Regulatory Authority (EPRA). This is the fourth consecutive month that the Diesel and Kerosene prices have remained unchanged. This is attributable to the implementation of the government’s fuel price stabilization fund established in June by the National Treasury. The Ksh.1.4 billion fund is used to compensate oil marketers as payments for haircuts taken to cushion Kenyans from higher fuel prices. “In the period under review, the price of Super…

Twitter on Wednesday announced that it will end its Fleets feature on August 3. Fleets were introduced in November 2020. They allow users to post full-screen photos, videos, reactions to tweets or plain text that disappears after 24 hours. “We hoped Fleets would help more people feel comfortable joining the conversation on Twitter,” Ilya Brown, Twitter’s vice president of product, said in a statement. “But, in the time since we introduced Fleets to everyone, we haven’t seen an increase in the number of new people joining the conversation with Fleets like we hoped.” “Fleets are mostly used by people who are…

Unaitas, a deposit-taking Savings and Credit Cooperative (SACCO) has secured a KSh1 billion facility from Oikocredit to fund small businesses in the agribusiness value chain. With over 378,000 members, Unaitas says it will be able to support over 5000 Micro, Small and Medium Enterprises (MSMEs) to recover from the Covid-19 impact and empower them to achieve economic growth. https://twitter.com/Unaitas/status/1414544563658756096?s=20 ”These enterprises include farmers’ groups and cooperatives, individual farmers, farm input dealers and transporters,” the firm said in a statement. The funds will be repaid over six years allowing them to offer loans to members. Caroline Mulwa, Oikocredit’s Investments manager East…