Author: David Indeje

Eliud Kipchoge, the marathon world record holder, claimed his fifth victory in the BMW Berlin Marathon on Sunday. Kipchoge crossed the finish line with a time of 2:02:42 cementing his status as one of the greatest marathon runners of all time. He shared the podium with two athletes who appeared in their marathon debuts: 24-year-old Vincent Kipkemoi (2:03:13) of Kenya and 21-year-old Tadese Takele of Ethiopia (2:03:24). https://youtu.be/hxDn4EEMank Men’s top 10 results Eliud Kipchoge KEN 2:02:42 Vincent Kipkemoi KEN 2:03:13 Tadese Takele ETH 2:03:24 Ronald Korir KEN 2:04:22 Haftu Teklu ETH 2:04:42 Andualem Belay Shiferaw ETH 2:04:44 Amos Kipruto KEN 2:04:49 Philemon Kiplimo KEN…

The Capital Markets Authority (CMA) has given the green light for the issuance of the country’s first-ever Sukuk Bond by Linzi Finco Trust. The Sukuk Bond aims to raise KSh. 3 billion. The funds raised from the bond will be allocated towards the development of 3,069 institutional housing units. The Sukuk offers an internal return of 11.13%. “This financial initiative represents not only a new investment opportunity but also a significant step towards addressing the housing deficit in Kenya,” said CMA’s chief executive officer Wycliffe Shammiah. Sukuk also referred to as Islamic bonds, are financial instruments that adhere to Shari’ah…

The National Social Security Fund (NSSF) in Kenya introduced new contribution rates under the NSSF Act No. 45 of 2013. The maximum contribution payable under the Act by both employers and employees for the first year is KES 2,160, divided into Tier I Contribution of KES 720, and Tier II Contribution of KES 1,440. The contributions are based on a Lower Earnings Limit of KES 6,000 and an Upper Earnings Limit of KES 18,000 in the first year. All employees earning less than KES 18,000 per month will contribute a lower amount. Year Lower Earning Limit Upper Earnings Limit…

London-based buyout firm Actis LLP  is initiating the sale of Java House, a restaurant chain in East Africa. Actis has enlisted Flamingo Capital Partners, an advisory firm with an African focus, to facilitate the sale. Actis aims to sell the entire restaurant chain for an amount yet to be disclosed. Since acquiring the chain from the Dubai-based Abraaj Group in 1999, Actis has owned Java House. Established in Nairobi in 1999, it saw Emerging Capital Partners acquire a 90% majority stake in 2012, while the founder kept a 10% minority stake. The group also owns additional food chains: 360 Degrees…

Safaricom, a leading telecommunications company in East Africa, is reportedly in talks to form a strategic partnership with global tech giant Apple Inc. This was revealed by President William Ruto during the US-Kenya Business Roadshow in Silicon Valley (San Francisco). “Safaricom is developing a partnership with Apple Inc. to integrate M-Pesa and the Apple Pay platform to expand the transaction reach of M-Pesa globally,” disclosed President Ruto. Apple Pay is a digital payment solution from Apple that is designed to eliminate the need for cash and physical cards. Apple Pay allows people to use their iPhone or Apple Watch when making…

The Energy and Petroleum Regulatory Authority (EPRA) has increased the fuel prices for super petrol, diesel, and kerosene by 8.7%, 11.9%, and 19.6% respectively, at Ksh 211.6, Ksh 200.9, and Ksh 202.6. These new retail fuel prices will be effective from September 15, 2023, to October 14, 2023. EPRA attributes this increase to a rise in the landed cost of these products due to volatility in the global crude oil market. In August 2023, the average landing costs per cubic meter for super petrol, diesel, and kerosene rose by 4.8%, 12.5%, and 19.8% respectively. The costs increased to USD 774.7…