Author: David Indeje

Activity in Kenya’s dominant private sector suffered a sharp contraction in April as authorities imposed fresh restrictions following a surge in coronavirus cases, a survey showed. This was the first decline in activity and new business since June 2020 due to the partial lockdown in five counties, Nairobi, Kajiado, Kiambu, Nakuru and Machakos. This had a considerable impact on movement and demand according to the latest monthly Purchasing Managers Index (PMI) released by Stanbic Bank Kenya on Wednesday.  The index fell sharply below the 50.0 neutral value in April, posting 41.5 to indicate a marked deterioration in business conditions. Readings above…

Tanzania may be rethinking its relations with Kenya, according to recent developments.  Tanzanian President Samia Suluhu Hassan who has been in Kenya for a two-day state visit, together with President Uhuru Kenyatta admitted that the nations are yet to meet their full potential due to the frosty relationship they have had before. “We would like to see many investors from Tanzania coming to do business in Kenya. And I want to say this, Tanzanian investors are free to come and do business in Kenya without being required to have business visas or work permits,” Kenyatta spoke during a joint Kenya-Tanzania…

The High Court has removed prohibition for the slaughter of donkeys after the state failed to respond to an application challenging the legal notice. Justice Richard Mwongo noted that the legal notice violated the rights of Star Brilliant, the petitioner. “The government has failed to sufficiently defend this case and this court quashes the Legal Notice 63 of 2020 as it violates the rights of Star Brilliant,” he said in his ruling. “The legal notice violates the rights of the applicant under Article 47 of the Constitution and the applicant is granted stay to operate in light of the failure…

65 per cent of international businesses expect to re-align their office space needs for the new world, according to the latest research from Knight Frank. Knight Frank’s second edition of its (Y)OUR SPACE draws on responses from almost 400 international businesses with a combined headcount of over 10 million, providing a unique insight into the workplace strategies and real estate needs of global companies. “There is a mood of change. Global firms are looking beyond the pandemic and are focused on how their workplaces can enhance corporate culture and re-engage employees in a new age of agile working,” said Knight…

The Nairobi Securities Exchange (NSE) Board chair has called for collaboration with capital markets in East Africa to stimulate and spur market development. “We need capital market collaboration in EAC to develop scale,” Kiprono Kittony said via his Twitter handle adding that  Kenya and Tanzania bourses are worth a combined $63B USD,  which is 6 per cent of the Johannesburg Stock Exchange. https://twitter.com/KipronoKittony/status/1389871811622494208?s=20 The 18th Edition of the Capital Markets Soundness Report (CMSR) for the Quarter ended March 2021, found out that the domestic capital markets remained sound attributed to low volatility in equity prices as the economy adjusted to…

Allianz, Germans’ leading insurers, and asset managers have completed the acquisition of a 66 per cent stake in East Africa’s largest insurance group Jubilee Holdings for Ksh 10.8 billion (EUR 84 million, USD 100 million). Following the acquisition, Jubilee General Insurance will now operate as “Jubilee Allianz General Insurance Limited” after the two companies complete corporate filings. “Jubilee Holdings is a leading insurance business in East Africa spanning distribution reach and network across the country and an exciting talent,” said Coenraad Vrolijk, Regional CEO and Regional Executive Board Member of Allianz Africa Tuesday during a virtual media briefing. “We are…