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.…
Author: Korir Issa
Korir Issa
IK, a Masinde Muliro University grad, tackles social justice through journalism. He analyses news and writes on women's rights, politics, technology, law, and global affairs.
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…
Fuel prices in Kenya have been revised downwards by the Energy and Petroleum Regulatory Authority (Epra) for the June/July 2024 cycle. “In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decreases by Ksh3.00, Ksh6.08 and Ksh5.71 per litre respectively.” This is the second consecutive month with falling prices. Super Petrol: Down KES 3.00 to KES 189.84 per litre (1.56% decrease from May’s KES 192.84). Diesel: Down KES 6.08 to KES 173.10 per litre (3.39% decrease from May’s KES 179.18). Kerosene: Down KES 5.71 to KES 163.05 per litre (3.38% decrease from May’s…
X has rolled out a site update that makes user likes private. This means other users won’t be able to see who “liked” a particular post, although users themselves can still see their own liked content and who liked their posts. The news became public through a post by Elon Musk on Wednesday morning, coinciding with the update’s release. He quoted an explanation from X’s engineering account posted on Tuesday, stating, “Important change: your likes are now private.” Important change: your likes are now private https://t.co/acUL8HqjUJ — Elon Musk (@elonmusk) June 12, 2024 Previously, a user profile section displayed liked…