Author: David Indeje

Digital Lenders Association of Kenya (DLAK) have signed a code of conduct that will help the body to self regulate in the dynamic digital lending landscape. According to the DLAK chairman Robert Masinde, “The rules and regulations that we are planning to adapt are a self-regulation initiative for the benefit of our consumers.” Part of the conduct is to cap initial lending at a maximum of KSh4,000 to customers with no credit history. “Permission should be requested for individual sets of data that the borrower is granting access to. In the case of shared contact networks between borrowers, such as…

More than 650,000 tea farmers will from July start receiving subsidised fertiliser from the Kenya Tea Development Agency (KTDA) following the arrival of 50,500 metric tons of fertilizer at the Port of Mombasa. In May, KTDA group chief executive Lerionka Tiampati said they had procured 95,000 tonnes of fertiliser at KSh 3.5 billion. The subsidised fertiliser is supplied through KTDA’s supply programme for farmers’ through a financing deal with Standard Chartered Bank.  The amount of fertilizer that each farmer gets is based on the number of tea bushes they have. On average, one 50kg bag of fertilizer is applied on…

The Kenyan Government, Tullow Oil, Total and Africa Oil Corp have signed agreements for the development of a 60,000-80,000 barrels per day crude oil processing facility for oil discovered in Block 10 BB and 13 T in the South –Lokichar Basin, according to the Petroleum and Mining Ministry. The ministry says the parties have agreed that Amosing, Ngamia and Twiga fields should be developed as the Foundation Stage of the development. https://twitter.com/MadiniKenya/status/1143486642315046912 “The Heads of Term agreements provide a framework and commercial certainty required to move ahead with negotiating the fully termed upstream and midstream long-form agreements ahead of the…

Cytonn Investments, an independent investments management firm through its Cytonn Asset Managers Limited has launched its Pensions Business for its members. According to David K. Mwakitele, Head of Pensions at CAML, the focus of the pensions business is to deliver above average returns to members of its pension schemes. “We shall bring the same Cytonn ethos of delivering above-average returns and focusing on the interest of the client in the management of these funds. As Cytonn Asset Managers Limited, we remain committed to supporting the Authority in enhancing education to the public on the importance of saving for retirement to…

The fourth edition of the BLAZE Be Your Own Boss (BYOB) was launched in Kakamega on Monday. BYOB has been expanded to 18 summits, compared to last year’s three, which engaged more than 26,000 youth. “The fourth edition of BYOB aims to empower 1.3 million youth by providing access to a platform that allows them to connect, learn and showcase their talent. We decided to change the approach and increase the number of summits in a region in order to reach more young Kenyans,” said Sylvia Mulinge, Chief Customer Officer – Safaricom.  In a new addition to the programme, BYOB…

The Nairobi commercial office space market has been steadily recovering from the recession phase into the recovery phase according to Fusion Capital, a Private Equity Firm focused on Real Estate Investment and Fund Management based in East Africa. “Rental rates have come down significantly, and office space has become very cheap despite the wider economy continuing to perform,” says Fusion Capital. However, “There is very little money in the market so prices are not expected to fall further meaning that now is the time to buy! According to Fusion Capital, even though some large scale projects (approved before 2016) are…