Author: Korir Issa

British American Tobacco Kenya (BAT Kenya) has reported a decline in profits for the six months ended June 2024. The company’s turnover dropped by 6.47% to Ksh19.64 billion, while operating profit fell by 2.96% to Ksh3.77 billion. Profit before and after tax both declined by 24.31% to Ksh3.05 billion and Ksh2.14 billion, respectively. “The operating landscape was characterised by geo-political disruptions, inflationary pressures and currency volatility. During the period, the Kenya Shilling recorded a significant appreciation (approximately 22 per cent) against the United States Dollar (our exports trading currency) which resulted in substantial foreign exchange losses,” said Waeni Ngea, BAT…

Global electronics leader, Hisense, has unveiled plans to expand its presence in multiple regions, including the Middle East and Africa (MEA) region. The expansion builds upon recent success and aligns with their broader global strategy announced at their Partner Conference in Berlin, as reported by Arabian News. Chairman Jia Shaoqian announced strategic investments during a recent visit to Dubai. Since 2019, Hisense has witnessed a remarkable surge in the MEA market, with business revenue doubling and brand equity exceeding a 120% increase. The firm plans to establish new production facilities starting in Egypt in late 2024. This is expected to…

Leading Fast Moving Consumer Goods Manufacturer, Bidco Africa has entered the baby care market with Gental Care Pant Diapers. This move capitalizes on a growing consumer preference for pant diapers over traditional tape diapers, which currently dominate the market (80% share). Bidco’s market research revealed a critical gap: a lack of readily available information for mothers regarding diaper care. Notably, a common misconception about removing pant diapers highlighted the need for educational initiatives. In response, Bidco is positioning Gental Care as a premium-quality pant diaper offered at an accessible price point. They plan to establish a local manufacturing facility in…

Xiaomi launched its first flip phone, the Mix Flip, on Friday. The phone starts at 5,999 yuan ($825). A unique feature is the ability to print photos instantly using a separate portable printer sold for 499 yuan ($68) with photo paper included. Xiaomi also released the Mix Fold 4, the latest version of its folding phone. Unlike its predecessor, the Mix Fold 4 does not emphasize new AI features but maintains its previous price of 8,999 yuan. Introducing Xiaomi’s first-ever flip phone, the #XiaomiMIXFlip! #LeiJunAnnualSpeech pic.twitter.com/H11B9DGU5W — Xiaomi (@Xiaomi) July 19, 2024 Notably, Xiaomi founder Lei Jun highlighted the phone’s…

Tanzania is tightening control over foreign currency use in the tourism industry. A new directive requires all tourists to pay park fees and other charges in Tanzanian shillings, converted at the official exchange rate. “All tourism business operators, tour guides, individuals or institutions issued with Control Number in US dollars before July 1, 2024, will need to pay based on the currency specified in perspective Control Number until August 1, 2024,” the notice from Tanzania’s Ministry of Tourism and Natural Resources stated.  This follows a broader government effort to limit dollar transactions and strengthen the shilling. The tourism sector, a major…

Kenya’s annual inflation rate as measured by the Consumer Price Index (CPI) fell to 4.6% in June 2024, the lowest level since September 2020, according to the Kenya National Bureau of Statistics (KNBS). The June data marks a decline from 5.0% in May 2024. According to KNBS, food price inflation dropped to 5.6% in June from 6.2% in May, driven by significant decreases in the prices of key staples like maize flour (33%), sugar (17.7%), and wheat (10%). In addition, fuel inflation also declined to 6.4% from 7.8% in May, reflecting lower international oil prices and a stable exchange rate.…