Author: David Indeje

Kenya’s economy dipped by 1.1 % in the third quarter, its first recession in nearly two decades due to pandemic-related shocks, according to figures released Wednesday.   The contraction in growth was preceded by the first contraction since September 2008 with GDP slumping by 5.5 per cent between April and June.   “The contraction was much lower than that recorded during the previous quarter largely against a backdrop of partial easing of COVID-19 containment measures that facilitated gradual resumption of a number of economic activities,” Kenya National Bureau of Statistics said in its quarter 3 GDP report.   In the review period, the agriculture sector remained resilient growing…

Kenya obtained a score of 31 out of 100 having scored 28 points in 2019.  Kenya is ranked 124th among 180 countries in the Corruption Perceptions index 2020 released by the Transparency International.  The rank was shared alongside Bolivia, Kyrgyzstan, Mexico and Pakistan.  According to the index, this was a decline of 4 places since 2012.  Kenya obtained a score of 31 out of 100 having scored 28 points in 2019.  “Kenya’s score still falls below the Sub-Saharan average of 32 and global average of 43 – a score below 50 indicates serious levels of public sector corruption,” Transparency International Kenya said.  The…

Virus Cost Global Tourism $1.3 Trillion  2020 Worst Year in Tourism History The United Nations has described 2020 as “the worst year in tourism history” in revenue as the number of people travelling plunged.  According to the World Tourism Organization (UNWTO), the collapse in international travel represents an estimated loss of USD 1.3 trillion in export revenues  This is more than 11 times the loss recorded in the 2009 global economic crisis.   “While much has been made in making safe international travel a possibility, we are aware that the crisis is far from over,” WTO head Zurab Pololikashvili said in the statement released Thursday.  Asia…

Hong Kong-listed apparel brand Giordano has expanded its footprints in Kenyan with a third outlet at Two Rivers Mall. Its other outlets are located at the Garden City Mall along Thika Road and at the Junction Mall along Ngong Road. “We are grateful to our franchise partner for their dedication, support and belief in Giordano. We are confident in the Kenyan market, and look forward to further developing our business there,” said Ms Hoying Lee, Giordano’s Overseas Market Development Manager. Established in 1981, Giordano now operates over 2,100 stores and counters in Greater China, South Korea, Southeast Asia, Australia, India…

British American Tobacco Kenya (BAT) has been recognised as the country’s top employer at the annual Top Employers Certification Award, in recognition of its exceptional employee practices for the fourth successive year. Being certified as a Top Employer showcases an organisation’s dedication to a better world of work and exhibits this through excellent HR policies and people practices. “To receive the Top Employer certification in both Kenya and Africa for the fourth successive year and being ranked No. 2 in Kenya for 2021, is an honour for us,” BAT Kenya Managing Director Crispin Achola said. Achola added that the certification…

Kenya Electricity Generating Company PLC (KenGen) says its profit after tax surged to KSh18.3 billion for the year ended June 30, 2020, from KSh7.8 billion recorded a similar period in 2019. Kenya’s biggest electricity producer said its Profit Before Tax on the other hand grew by 8.3 per cent to KSh13.9 billion from KSh11.6 billion reported previous financial year. “We reported a 13.4 per cent growth in electricity revenue, mainly due to the full operationalization of the 165MW Olkaria V geothermal power plant in November 2019, which boosted geothermal production by 14 per cent,” the Managing Director and CEO, Rebecca…