Author: Korir Issa

Mr. Long’et Terer has been appointed as the interim liquidator to oversee the winding down of Resolution Insurance Company Limited’s affairs. Creditors of Resolution Insurance are urged to file their claims promptly with the interim liquidator to ensure they are included in any potential distributions of the company’s remaining assets. Specific procedures and deadlines for claim filing will be announced by Mr. Terer in due course. The Insurance Regulatory Authority (IRA) placed Resolution Insurance under statutory management in 2022 due to its financial concerns. “Despite the various intervention measures taken as provided for by the Insurance Act, Resolution Insurance Company…

Samsung has introduced five new additions to its popular Galaxy A series: the Galaxy A25 5G, A15 5G, A15, A05s, and A05. The devices cater to both new customers and loyal fans with various features and price points. Prices: Galaxy A25 5G: 8GB/256GB – Ksh50,000, 6GB/128GB – Ksh43,000 Galaxy A15 5G: 6GB/128GB – Ksh33,000, 4GB/128GB – Ksh30,000 Galaxy A15 LTE: 6GB/128GB – Ksh29,000, 4GB/128GB – Ksh27,000 Galaxy A05s: 6GB/128GB – Ksh26,000, 4GB/128GB – Ksh24,000, 4GB/64GB – Ksh21,000 Galaxy A05: 4GB/128GB – Ksh19,000, 4GB/64GB – Ksh17,000 Highlights Galaxy A25 5G: Immersive 6.5″ FHD+ Super AMOLED display, 120Hz refresh rate, 50MP OIS camera, quad camera system, fast 5G…

Safaricom, Kenya’s leading mobile network operator, has announced that its popular mobile money service, M-PESA, is back to normal after experiencing a technical glitch that affected millions of customers. Customer Notice. pic.twitter.com/tZUAXxDEBu — Safaricom PLC (@SafaricomPLC) January 9, 2024 M-PESA has over 40 million active customers in Kenya and other African countries, which accounts for over a third of Safaricom’s revenue. The service disruption, which affected both the M-Pesa app and the Sim Toolkit, caused frustration and anxiety among customers who rely on M-PESA for their daily transactions. 

Kenya’s diaspora remittances increased by 2.8 per cent in November 2023, reaching $355 million, according to the latest data from the Central Bank of Kenya (CBK). The CBK said that the remittances, a key source of foreign exchange for the country, were higher than the $345.4 million recorded in November 2022. “The cumulative inflows for the 12 months to November 2023 totaled Ksh 638.8 billion ($4.18b) compared to Ksh 615.2 billion ($4.02b) in the same period in 2022, an increase of 3.8 per cent,” said CBK. Year Month North America Europe Rest of World Total Remittances (USD ‘000) 2023 1…

Kenya received 451,441 international visitors in Q3 2023, a 42.3% increase from 317,196 visitors in Q2 2023, according to data from Jomo Kenyatta International Airport (JKIA) and Moi International Airport (MIA).  The month of October witnessed 131,756 international arrivals, up from 113,981 arrivals in October 2022.  On a year-on-year basis, the total arrivals in the first nine months of 2023 rose by 28.7% to 1,238,330, compared to 962,157 in the same period in 2022.

Longhorn Publishers reported a net loss of Ksh571.33 million for the year ended June 2023, the worst since it was listed on the Nairobi Securities Exchange in May 2012.  The loss was nearly seven times higher than the restated loss of Ksh84.5 million in 2022, which was revised from a net profit of Ksh39.9 million. According to the publisher, “Various macroeconomic headwinds over the past year have had a significant impact on our business. We have seen rising inflation, an increase in interest rates, currency depreciation, and a general economic slowdown across our markets which has resulted in a drop…