Author: David Indeje

Bank of Africa Group (BOA Group) has made a KSh 1.5 billion capital injection into its Kenyan subsidiary to support its growth strategy. According to BOA Group, this is in support of BOA Kenya’s ‘change of strategy from defensive to offensive’. BOA Kenya, which provides banking services to corporate, SME and retail clientele, has been reorganizing its business over the past four years with an aim of having a leaner balance sheet, improved asset quality and diversified liability mix supporting efficient liquidity management.  Its defensive strategy includes consolidating its business and rationalising branch network given the development and advancement in…

Kenya suspended all international flights with effect from Wednesday, March 25th, with the exception of cargo flights to limit the spread of coronavirus. The Health Cabinet Secretary, Mutahi Kagwe, said persons coming into the country between now and Wednesday will undergo mandatory quarantine at a government-designated facility at their own expense. Kagwe on Sunday announced additional measures to contain the virus after eight more coronavirus cases had been confirmed, bringing the total to 15. The new cases involved five Kenyans, two French nationals and a Mexican. “Those coming into the country between now and Wednesday will undergo mandatory quarantine at…

The Kenyan economy has already been jolted by the widespread disruptions to businesses from the coronavirus pandemic. Already, the Kenyan Government has taken some interventions to help households and businesses weather the economic pain as a result of the impact rising from the pandemic. The first case of Coronavirus infection within Kenya’s borders was reported on the 13th of March 2020.  The Kenya Private Sector Alliance (KEPSA), 61.0% of businesses surveyed reported that the Coronavirus has had a direct negative impact on their businesses. Financial and telecommunication institutions have announced several relief measures as a directive from the Central Bank…

Safaricom has revised its PostPay offering targeting its over 33 million customers with a minimum allowable limit of Ksh 1,000. The new PostPay product comes with new prices and more data. It also introduces a new way to sign up for PostPay. “We have big surprises for our PostPay customers in the near future where we plan to offer additional destinations for international calling and also unveil a device financing model where customers can get a device as part of their PostPay plan,” Safaricom Chief Customer Officer, Sylvia Mulinge. Enrolling To enroll to the new PostPay, you will be required to dial *544#…

Epic African Jewellery is a Kenyan based fashion accessories brand that seeks inspiration from beadwork turning them into bold body accessories that makes its wearer stand out. We speak to its founder, Sharon Wendo. What was your driving force in setting up Epic African Jewellery and how long did it take you to get the business to market? I was introduced to beading about 4 years ago. I was very intrigued and interested to learn more, so two years ago, I decided to set up a business and pursue jewellery design.  Was it challenging to raise funds for your business…

Micro and small enterprises are the backbone of the Kenyan economy with more than 1.56 million licensed and 5.9 million unlicensed, according to National Treasury data. As a result, they contribute to the employment of approximately 13 million Kenyans every year. Supporting the MSME sector to access credit is, therefore, critical to sustainable growth.  Further, businesses are being urged to be more aggressive in order to create employment and spur economic growth towards achieving vision 2030.  “One of the biggest barriers to their growth is limited access to credit,” according to the Kenya Bankers Association (KBA). The small and medium…