Author: Korir Issa

The African Securities Exchange Association aims to achieve a market capitalization of $1.3 trillion through collaboration with the African Development Bank. In a statement, ASEA and the African Development Bank Group signed an agreement for a $600,000 grant to expand the number of linked African exchanges from 7 to 15 under the second phase of the African Exchanges Linkage Project. The funds will come from the Korea African Economic Cooperation Fund (KOAFEC) Trust Fund, managed by the African Development Bank. AELP’s second phase will provide investors access to over 2,000 securities listed on up to 15 capital markets through a…

Fuel prices in Kenya have been revised upwards by the Energy and Petroleum Regulatory Authority (Epra) amidst a skyrocketing cost of living. The revision in fuel prices is a result of the National Treasury doubling the Value Added Tax (VAT) on petroleum and petroleum-related products from 8 per cent to 16 per cent in the Finance Act 2023. Consequently, petrol increased by KSh13.49 per litre, diesel by KSh12.39 and kerosene by KSh11.96. In Nairobi, a litre of super petrol will retail at KSh195.53 while diesel will surge to KSh179.67. “Pursuant to the Finance Act, 2023, VAT on super petrol, diesel,…

Safaricom has partnered with Vesen Computing and Anga Cinema to draw more moviegoers through a dedicated M-Pesa Mini App. The Anga M-Pesa Mini App will offer movie schedules alongside booking and ticketing at Anga CBD, Anga Diamond and Anga Sky. Safaricom CEO Peter Ndegwa said the Anga M-Pesa Mini App seeks to provide moviegoers with increased convenience, enabling them to view schedules and book tickets from wherever they are while drawing more customers to cinemas. “This partnership with Anga Cinema goes beyond providing movie tickets and brings us closer to our ambition to make the M-Pesa Super App a digital…

Centum Investment Company has established the Two Rivers International Finance and Innovation Centre (TRIFIC) in Kenya. This follows the gazettement of the Two Rivers land as a private services-focused special economic zone (SEZ). TRIFIC is an international-calibre urban node with world-class infrastructure, facilities and a strategic location. It aims to position Kenya as a hub for global investment and job creation by providing a world-class ecosystem where enterprises seeking to access the global and regional services market can locate themselves and benefit from the fiscal and enterprise facilitation incentives available to SEZ enterprises. https://twitter.com/HonMoses_Kuria/status/1671010194199920640?s=20 The Two Rivers International Finance and…

Stima DT Sacco has launched a new branch at the Electricity House in Nairobi as part of its decentralization policy to bring services closer to its members. The CEO of Stima DT Sacco, Dr Gamaliel Hasan, said that the establishment of the new branch reflects Sacco’s unwavering commitment to meeting the evolving needs of its members and the modern demands of the digital age, most especially in the capital city of Kenya. The CEO further emphasised that the Branch Expansion Strategy of Stima Sacco has always been centred around three key pillars: accessibility, convenience, and member satisfaction. The new branch…

Kenya’s largest retailer by branches, Naivas, plans to hit the 100 mark, a solid commitment to growth and market presence. The growth will be anchored on its food market model, Naivas Chief Commercial Officer, Willy Kimani, said during the launch of its 95th outlet in Karen. “As we celebrate the opening of the 95th branch, we are also officially kicking off the countdown to the 100th branch in what we are calling the RoadTo100. We are delighted that as a homegrown Kenyan brand, we have reached heights previously unprecedented in the retail industry and are about to make history,” said…