Equity Bank customers can now instantly withdraw their funds received through PayPal, compared to the previous 24-hour waiting period. This improvement helps businesses and individuals manage cash flow more effectively and supports the growing trend of cross-border trade. “The reduced settlement period will support businesses and individuals in managing their cash flows better and more effectively,” Equity Bank Kenya Managing Director Gerald Warui said. The reduced settlement period will support businesses and individuals in managing their cash flows better and more effectively and support the growing trend of cross-border trade. Customers can make withdrawals through the Equity Mobile App and Equity Online. Customers must…
Author: David Indeje
David Indeje
David Indeje is the community engagement editor at Khusoko, a leading digital platform for East African business news. He oversees editorial content, drives audience engagement, and amplifies diverse voices. Indeje also consults on digital strategy for brands in agriculture, governance, technology, and health, while exploring AI’s impact on journalism. In addition, he serves as a communications officer at KICTANet, advancing digital inclusion and policy dialogue.
The Kenyan tea industry performed exceptionally well in 2023, with record-breaking production and export earnings. According to the Kenya Tea Industry performance highlights, export earnings hit a record high of Sh180.57 billion in 2023, surpassing Sh138.09 billion in 2022 and Sh136.59 billion in 2021. The total marketed value was Sh196.97 billion, including Sh16.4 billion from domestic sales. Tea production hit a record high of 570 million kg, compared to 535 million kg in 2022 (a 6.58% increase).
The Kenya Association of Manufacturers (KAM) has launched the 2nd edition of Loop Forum Kenya, an event focused on driving the circular economy within the country. The Loop forum provides a platform for collaboration, policy discussions, and showcasing innovative solutions that address environmental and social challenges. What is the Circular Economy? The circular economy aims to eliminate waste and pollution, keep products and materials in circulation, and regenerate natural systems. It presents solutions to pressing issues like climate change and biodiversity loss while addressing social needs. Kenya’s Commitment to Green Growth During the 2023 African Climate Summit, President William Ruto…
The Kenyan High Court has lifted the injunction preventing the government from printing new digital identity cards, known as Maisha Cards. The court suspended the program in December 2023 due to concerns raised by the Katiba Institute regarding data security and public participation. In November 2023, the government launched a pilot program for new applicants and replacements, issuing the “Maisha Card” instead of traditional IDs. Following the court’s decision, the government will resume issuing new cards, prioritising processing existing applications (over 60,000). “All Kenyans turning 18 in any part of Kenya will be issued a Maisha Card on a trial…
Mauritius-based Phoenix Beverages Ltd. (PBL) has received approval from the Competition Authority of Kenya (CAK) to acquire a 28.15% stake in African Originals. According to CAK, the acquisition is unlikely to affect competition significantly. “This approval has been granted on the finding that the transaction is unlikely to negatively impact competition in the market for manufacture, processing, distribution, and sale of alcoholic ciders, alcoholic spirits, and non-alcoholic ready-to-drink (NARTD) beverages, nor elicit negative public interest concerns—the two key considerations during merger analysis,” said CAK. Markets Shares in the Alcoholic Cider Market (2020-2022) Entity/Brand 2020 (Market Share %) 2021 (Market share%)…
Equitel, Finserve’s mobile virtual network operator (MVNO), has partnered with Airtel to launch Africa’s first successful MVNO offering 5G services. The launch builds upon their successful 4G launch, further revolutionizing the virtual telecommunications landscape in Kenya. What this means 5G technology empowers businesses, communities, and individuals to engage in the digital economy actively, experiencing lightning-fast internet speeds. In addition, Equitel’s 5G service is already available in over 370 locations across Kenya, including major towns and cities. In collaboration with Airtel, the service will soon expand to densely populated areas like residential neighbourhoods, shopping centres, and central business districts. On the…