Author: Korir Issa

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.…

Jubilee Holdings shareholders approved a total dividend payout of Sh1.036 billion for the fiscal year ending December 2023. This represents a significant increase from the Sh817 million paid out in 2022. The dividend increase comes despite a drop in profits from Sh5.5 billion in 2022 to Sh4.4 billion in 2023. The company attributed the higher dividend payout to a special dividend arising from the sale of its general insurance business to Allianz. The approved dividend translates to Sh14.3 per share. The final dividend and special dividend will be paid on or around July 25, 2024, to shareholders on record as…

Digital lender Tala hits a milestone in Kenya, disbursing KES 300 billion in credit over 10 years. Tala currently serves 3.5 million customers in Kenya, disbursing KES 10 billion to KES 15 billion monthly. Tala’s global reach extends to over 9 million customers with a total of Sh750 billion disbursed across the Philippines, Mexico, and India. Marking a new chapter, Tala Kenya focuses on partnerships and becoming an ecosystem enabler, moving beyond providing credit access. By leveraging data science and understanding the mass market, Tala aims to offer more customer-centric financial solutions. “Moving into the next decade, we will be…

Africa Mega Agriculture Center (AMAC) Limited has proposed acquiring a controlling 84.42% stake in Kenya Orchards Limited (KOL), a publicly traded agricultural company on the Nairobi Securities Exchange (NSE). The deal, if approved by KOL’s major shareholders, would involve a private transaction for 10,863,537 shares. AMAC says it has no intention of delisting KOL, ensuring the company remains accessible to investors on the NSE. Kenya Orchards manufactures and sells fruit and vegetable bottled and canned products for domestic consumption in Kenya. The company also produces a range of spices and seasonings. Products in its bottled range include fruit jams, tomato…