Author: David Indeje

Two Kenyans, Ben Udoto, and Malik Khaemba have been honored by CES Canada, a charity that supports communities in western Kenya for their outstanding service and dedication to the youth. Michael Frederiksen, President-CES Canada says their focus on education, community health, clean water, and agriculture has helped to raise economic growth and create employment opportunities for youth in 45 schools across Kenya. “The impact of building a new Musaga Secondary School, providing ten clean water projects, and creating three secondary school farm projects has received praise from community leaders. 140 elementary schools (60,000 children) have received medical treatments for worms…

The International Monetary Fund (IMF) revised upwards its 2020 real gross domestic product (GDP) projections for Kenya in its latest World Economic Outlook. Kenya’s Gross Domestic Product (GDP) will expand one percent this, up from a negative one percent projected in June due to its diversified economy. It also expects the country’s GDP growth to expand by 4.7 percent in 2021. Kenya’s Second-quarter 2020 real GDP shrunk 5.7 percent dragged down by the Services sector which was greatly impacted by theCovid-19 containment measures in the review period. Sub Saharan Africa will grow at an estimated -3 percent with Nigeria and Angola…

Delta International FZE, an infrastructural and industrial conglomerate operating across the East African region, is set to acquire an 84 percent majority stake at Nairobi Business Ventures (NBV) for KSh83 million. Shares of the firm are currently suspended from trading at Nairobi Securities Exchange for one month to allow the conclusion of the transaction. “Allot and issue up to a maximum of 415,000,000 ordinary shares of KES 0.50 each in the Company (“New Shares”) to Delta International FZE, subject to payment by Delta International FZE of the aggregate subscription price of KES 83 million (being KES 0.20 per New Share),…

Facebook rolled out Marketplace, a feature that allows users to discover, buy, and sell items on its platforms in Kenya.  According to Facebook, users will easily buy and sell things, especially at a time when businesses have been adversely affected by the Covid-19 pandemic.  Mercy Ndegwa, Facebook Head of Public Policy for East & Horn of Africa said the organisation is optimistic that the product will complement the growing e-commerce market.  “We had already seen people buying and selling with each other on Facebook, so we decided to launch Facebook Marketplace; a safe and convenient destination in the Facebook app…

Nairobi is the leading city across Africa for online food delivery, followed by Casablanca (Morocco), Lagos (Nigeria) Kampala (Uganda), and Abidjan (Ivory Coast) according to the latest Kenya Food Index 2020. According to Jumia, food delivery volumes between March and August 2020 witnessed a surge due to the Covid-19 pandemic. “Home delivery from restaurants & supermarkets is growing fast, as more consumers are choosing to order from home or the office and want to avoid crowds,” said Jumia CEO Sam Chappatte. The report found out that the enhanced availability of popular vendors and increased mobile and internet penetration in the…

Safaricom’s Fuliza loan book surged to Ksh 176 billion six months to June compared with Ksh 81 billion in 2019, according to its recent Sustainable Business Report. According to the report, Kenyans borrowed KSh245 billion in the 2020 Financial Year, compared to KSh29 billion borrowed a year earlier. The total number of transactions in the period under review hit 393 million compared to 46.4 million registered in 2019. “The traction that the popular facility had from its launch in January 2019 continued through the period under review, with strong growth in both numbers of customers and volumes of disbursements,” reads…