Author: David Indeje

Online ticketing firm Buupas has partnered with Safaricom M-pesa platform to scale up its booking services to customers. “We are glad to partner with Safaricom to provide travellers with an easy and flexible solution to book and manage their journey,” BuuPass co-founder and director Sonia Kabra said in a statement. The service is currently available with five bus operators including Easy Coach, Modern Coast, Greenline, Palmers and East African Shuttles, and looks to onboard more than 20 additional operators by the end of the year. Customers can access the service by dialing *877# and at buupass.com with payments accepted through…

The World Health Organization (WHO) has for the first time recognized “burn-out” in its International Classification of Diseases (ICD), a benchmark for health diagnosis. The WHO has now classified burnout as “a syndrome conceptualized as resulting from chronic workplace stress that has not been successfully managed.” “It is characterized by three dimensions: feelings of energy depletion or exhaustion; increased mental distance from one’s job, or feelings of negativism or cynicism related to one’s job; and reduced professional efficacy.” “Burn-out refers specifically to phenomena in the occupational context and should not be applied to describe experiences in other areas of life,”…

Kenya’s foreign exchange reserves hit a life-time high of 10.06 billion US dollars, the central bank confirmed on Monday. “This gives the central bank unprecedented cushion against external shocks. Moreover, sustained stability in the current account position should offer fundamental support for the currency,” according to Faith Atiti and Stephanie Kimani, Commercial Bank of Africa Limited Market Analysts. The Central Bank said the foreign exchange market has remained stable supported by the narrowing of the current account deficit to 4.5% of GDP in the 12 months to April 2019 from 5.5% in April 2018. READ: Kenya’s Central Bank Keeps Key…

Kenya Airways PLC (KQ) is looking for a new chief executive officer. The board announced in a press release Tuesday that it has accepted the resignation for personal reasons of KQ chief executive officer and group managing director Sebastian Piotr Mikosz, who has been at the helm for 3 years. “The Board of Kenya Airways will shortly begin a competitive recruitment process to find Mr. Mokosz’s replacement,” said the airline. It also clarified that Mikosz will continue to serve in his capacity as CEO and Group MD until 31st December 2019. On Friday, Mikosz offered to resign from his role…

Kenya’s economy remains bullish for the private sector that continues to exhibit sustained optimism, but and there are risks too, according to the latest survey on market conditions. In its May 2019 survey on market conditions, the Central Bank of Kenya (CBK), showed that the private sector expects inflation to remain within the target range, with expectations of lower food prices following improved weather conditions, and the stability in the exchange rate. However, besides tailwinds as a result of the ongoing public infrastructure investments, implementation of the Big 4 projects by the Government, expected growth in tourism, a stable macroeconomic…

Central Bank of Kenya (CBK) held its benchmark lending rate at 9.0% on Monday, saying there was a need to remain vigilant on inflation. “The Committee noted that inflation expectations remained well anchored within the target range, but there is need to remain vigilant on possible spillovers of recent food and fuel price increases,” said Dr. Patrick Njoroge, Chairman, Monetary Policy Committee. This is the fifth consecutive decision by the bank to keep rates on hold since September. The inflation rate stood at 6.6 percent in April compared to 4.4 percent in March, mainly reflecting increases in food prices attributed to…