Author: David Indeje

Kenya’s retail landscape is driven by the growing desire for convenience among shoppers. According to Knight Frank’s East Africa Retail Market Infographics – Q1 2024, supermarket chains are revamping their strategies, ditching the traditional mall model in favour of establishing a presence directly in residential neighbourhoods. This shift is a direct response to changing consumer habits. Consumers are prioritising convenience, opting for quick grocery runs and everyday essentials closer to home. This trend is further fueled by a rise in cost-conscious shopping, making nearby supermarkets a more attractive option compared to distant malls. Previously, supermarkets catered primarily to affluent neighbourhoods…

Nigeria’s biggest lender Access Bank Plc, has acquired African Banking Corporation of Tanzania (ABCT) Limited strengthening its regional presence. The move also aligns with its vision of being the “Most Respected African Bank.” In a filing on the Nigerian Stock Exchange (NGX) dated June 10, 2024, Access Bank’s Managing Director, Roosevelt Ogbonna, emphasized the significance of the acquisition. He termed it “a crucial step to establish a strong presence in Tanzania, facilitating intra-African trade within East Africa, the wider continent, and globally.” Ogbonna further highlighted their commitment to “building a robust East African banking network, driving positive change and innovation.”…

The International Monetary Fund and Kenya reached a preliminary agreement to unlock about $1.1 billion. The funding is under the existing Extended Fund Facility and Extended Credit Facility arrangements. The staff-level agreement, which is subject to IMF board approval, will give Kenya access to about $976 million. If approved, Kenya would receive $976 million 135.55% of the country’s quota with the IMF (quota refers to the maximum amount a country can borrow from the IMF). In addition to $156 million in concessional loans which have zero interest rates and are intended to help low-income countries. This will bring the total IMF…

Airtel Kenya has significantly expanded its 5G network coverage, reaching 39 counties with 690 5G sites as of June 2024. They aim to launch an additional 1000 sites this year, bringing the total to 1690. “We are pleased to introduce Airtel Kenya’s Unlimited Plans,” said Ashish Malhotra, Managing Director, Airtel Kenya. “They signify our commitment to providing unmatched connectivity solutions and embody our vision for individuals and businesses empowered by seamless connectivity.” Airtel offers a variety of 5G home internet plans: 10 Mbps – Ksh 3,500 per month 20 Mbps – Ksh 5,000 per month 30 Mbps – Ksh 6,500…

Kenya’s central bank, the Central Bank of Kenya (CBK), opted to maintain its benchmark lending rate at 13.0% on Wednesday. The Monetary Policy Committee (MPC), decision comes despite some positive economic indicators, such as stable inflation and exchange rates. “The Monetary Policy Committee (MPC) concluded that the current monetary policy stance will ensure that overall inflation remains stable around the mid-point of the target range in the near term while ensuring continued stability in the exchange rate,” the central bank said in an emailed statement. This means loan interest rates for Kenyans are likely to remain high for the foreseeable future.…

The internet plays a vital role in our lives, and Kenya is committed to shaping a digital future that benefits everyone. The Kenya Internet Governance Forum (KeIGF) is a chance for different stakeholders to be part of the conversation. What is the KeIGF? The KeIGF is an annual event convened by KICTANet, a multistakeholder platform for people and institutions interested in ICT policy. The network’s guiding philosophy is that of encouraging synergies for ICT policy-related activities and initiatives. KeIGF is a multistakeholder forum, meaning it brings together people from all sectors – government, businesses, civil society, and technical experts –…