Author: David Indeje

Regional low-cost carrier, Jambojet says its growth will be anchored through partnerships and alliances as it marked its 5th year anniversary on Thursday. Vincent Rague, Jambojet’s Board Chairman said since its inception five years ago, “The trajectory is good…we have witnessed remarkable growth with significant milestones. We have created a strong brand and we remain ambitious.” He added that aviation will be a key realisation of the African rising story propelled by numerous possibilities from the growing population. “In Africa, it is estimated that 2.5% of the passengers have travel documents, and 88% need to have them,” noted Rague. However,…

The Kenya Meteorological Department has said the country has been spared from being hit by cyclone Kenneth. However, parts of Kenya will experience enhanced rainfall as a result. “…but the cyclone will not hit Mombasa,” said the Department on Twitter in response to Harun Mwadena Muyesi who had inquired. https://twitter.com/MeteoKenya/status/1121359991808589825 On Thursday, the met department had also said that “It is false that cyclone Kenneth will hit the Kenyan Coast. By the laws of physics, cyclones cannot come this close to the equator. Landfall will be northern Mozambique as shown in the satellite image.” According to Reuters, three people have…

Kenya job growth surged by 00.9 million to 17.8 million in 2018 compared to 16.9 million in 2017, with only 840,000 new jobs created, the 2019 Economic Survey report indicates. Out of the new jobs created, 83.6% came from the informal sector and 16.4% in the formal sector. Compared to 2017 where 897,000 jobs were created, this was a decline. “This implies that the economy generated an extra 840.6 thousand jobs in 2018. In the modern sector, total employment increased from 2.8 million persons in 2017 to 2.9 million persons in 2018. Jobs in the informal sector which constituted 83.6%…

Kenya’s economy is estimated to have expanded by 6.3% in 2018 driven by agriculture, excluding fisheries and forestry, which expanded by 6.6%, up from 1.8% in 2017, according to the Kenya National Bureau of Statistics. “The growth was attributable to increased agricultural production, accelerated manufacturing activities, sustained growth in transportation and vibrant service sector activities. Agricultural activities benefitted from sufficient rains that were well spread throughout the country,” said the Statistics body in its Economic Survey 2019. KNBS further said the growth realized was anchored on a relatively stable macroeconomic in 2018. Inflation remained low at 4.7% in 2018 compared…

The Energy Regulatory Commission (ERC) will now be referred to as the Energy and Petroleum Regulatory Authority (EPRA).   “We wish to notify the public that the Energy Regulatory Commission (ERC) is transitioning into the Energy and Petroleum Regulatory Authority (EPRA), established under the Energy Act 2019,” said the commission in a public notice posted on their Facebook Page. The commission acquired the new name at the end of March after the Energy and Petroleum Bills came into effect. The new law repealed the Energy Act 2006 and the Petroleum (Exploration & Production) Act (1986 revision). The Energy Bill, 2017…

Shares of listed banks in Kenya have been assigned a recommendation of “Hold” from investment firm Genghis Capital. “We note that the challenging business environment, occasioned by regulatory constraints, coupled with weakened asset quality, serve as impediments to growth. There still exists uncertainty with the interest rate cap ceiling,” according to the firm’s 2019 Banking Sector Report. However, the firm has reservations on KCB Group Plc, Standard Chartered Bank Kenya Ltd, and Diamond Trust Bank Kenya Plc. They recommend a buy on DTB Kenya with a Target Price of KES 149.80, a 17.5% potential upside from the current market price…