Author: David Indeje

Kenya will sell an 11-year, amortised infrastructure bond to raise 70 billion shillings in August. The Central Bank said the money received will go to the funding of infrastructure projects in the FY2020/21 budget estimates. In a statement, it would receive bids for the bond until Aug.18, and auction it a day later at 10.900 percent. The Bond will be tax-free as provided for under the Income Tax Act. Investors will be able to redeem 50 percent of the outstanding principal amounts on 17th August 2026 with final redemption on all outstanding amounts on 11th August 2031. Only investors with…

Safaricom has said it will discontinue its pre-paid platinum, a life-style driven monthly service that is accessible from mySafaricom app. In an alert to their customers, the telco said, “Platinum Plans will not be available from Aug 30th 2020.” The Safaricom Platinum Plans were introduced in 2018 offering all value-for-money mobile packages to allow customers to enjoy affordable and convenient integrated with data, voice and SMS packages. As an alternate, subscribers will now opt for Postpay and All-in-one service packages. The All-in-one monthly package consists of data, talk minutes and SMS under its revamped offerings on Postpay. The revamped plans…

Safaricom is empowering its customers currently on 2G devices to upgrade and enjoy high-speed internet connectivity on its 4G network through a flexible smartphone purchase scheme in partnership with the tech giant, Google.   Dubbed Lipa Mdogo Mdogo, the telco’s customers will own 4G enabled smartphone by paying as low as KSh20 daily for almost a year. “Together with our key partner Google, and specifically Android, we are aiming for an additional one million customers who will be able to access and leverage the power of the internet,” Safaricom Chief Executive Officer Peter Ndegwa said. Currently, 4G smartphone penetration on Safaricom’s…

Kenya reported on Monday its total number of coronavirus cases had hit 17,975 with President Uhuru Kenyatta raising concerns over “the aggressive surge of infections” among young Kenyans. The health ministry reported 440 new cases and 5 deaths on Monday, taking the total number of infections and fatalities to  17,975 and 285, respectively.  The country’s Case Fatality Rate, stands at 1.6 percent, much lower than the global average according to the state. “The upsurge in the COVID-19 cases has mounted speculation of stricter containment measures during Monday’s meeting between the President and the Governors. That said, COVID-19 fallout has been…

Kenya on Monday extended its 9pm to 4am nationwide curfew for another 30 days and banned the sale of alcohol in restaurants and eateries across the country as a containment measure to curb the spread of COVID-19. “Kufunga nchi haitasiadia (closing the country won’t help) the government cannot be on the door of every Kenyan, the responsibility is ours,” President Uhuru Kenyatta said during his Tenth Presidential address on COVID-19 situation in the country. “There shall be no sale of alcoholic drinks in eateries, restaurants across the territory of the Kenya effective Monday midnight for 30 days,” said President Kenyatta.…

International flights, British Airways, KLM Royal Dutch Airlines, Qatar Airways and Air France have announced the resumption of passenger services through Jomo Kenyatta International Airport (JKIA)  in August. This follows the eased restrictions on air travel. The flights have remained suspended for over four months now in the wake of the Covid-19 pandemic. British Airways says it will operate 4 weekly flights on Tuesday, Thursday, Saturday, and Sunday commencing August 1st. Qatar Airways will resume operations with 14 weekly flights, but subject to regulatory approval, while KLM will begin with 4 flights beginning August 3rd. On the other hand, Air…