Author: David Indeje

Kenya’s current account deficit narrowed to 5.0 percent in the 12 months to June from 5.2 percent in May, attributed to lower oil imports and improvement in exports of tea, horticulture and remittances. The Central Bank of Kenya expects the current account deficit to remain stable at 5.8 percent of gross domestic product (GDP) in the year. “Preliminary data on the balance of payments shows that the current account deficit narrowed to 5.0 percent of GDP in the 12 months to June 2020 compared to 5.2 percent of GDP in the 12 months to May,” said the CBK in its…

Kenya’s diaspora remittances inflows rose in June 2020 to $288.5 million (KSh31.1 billion) from $258.2 million (KSh27.8 billion) in May as most countries in the world eased coronavirus restrictions. The Central Bank of Kenya data said this was 12 percent rise in remittances driven by increased payments from the United States, Saudi Arabia, and South Africa. “The cumulative inflows in the 12 months to June totaled USD 2,809 million compared to USD 2,768 million in the 12 months to June 2019, reflecting a growth of 1.5 percent,” said the CBK in its Weekly Bulletin dated 24 July. Diaspora remittances are…

Limuru Tea PLC in a public disclosure on Friday said it will operate under a separate entity following consumer goods major Unilever’s review of its global tea business. Limuru Tea with 282 hectares of tea plantations, said the separation is projected to be concluded by the end of 2021. “With relation to the balance of the Unilever’s tea brands and geographies and all tea estates in which Limuru Tea Plc falls, there is an intention to create a separate entity with the aim of maximising their potential and hence a process will now commence implement the separation, which is expected…

The Kenyan Government has declared three-day national mourning as a mark of respect to the former president of Tanzania Benjamin William Mkapa who died on Friday. President Uhuru Kenyatta directed that the Kenyan and East African Community flags be flown at half-mast in the country and all Kenya’s Diplomatic Missions abroad from dawn on Monday, July  27 until sunset on Wednesday, July 29, 2020. “…in testimony of the high esteem in which the People of Kenya hold the Late Former President Benjamin William Mkapa, the Republic of Kenya will observe a period of three (3) days of national mourning,” said…

Today, new forms of communication are reshaping the practice of a once narrow-minded craft serving a local, regional or national public. Thanks to technology that is enabling people to accesses instantaneous multimedia communication networks, products, and services. The same technology has allowed news media to disseminate information to audiences scattered around the globe. Consequently, the ongoing mobile revolution has become a powerful tool and voice of an audience that was initially perceived as passive. Social media and mobile technology are weakening state control and information dissemination. Social media users are conduits, amplifiers of media messages, and potential sources. Findings from…

East Africa’s largest insurance group Jubilee Holdings will release a final dividend payout of KShs. 579.8 Million of KShs 8 per share for the financial year ended December 2019 on Friday. The divided has been described as ‘a pleasant relief to many shareholders who have borne the negative effects of COVID-19.’ Jubilee Holdings Limited Group Chairman Mr. Nizar Juma noted that since going public the company has always paid a dividend to its shareholders and to date has never paid a dividend lower than the previous year. “We are proud that Jubilee Holdings has demonstrated its solid financial ground and…