Author: Korir Issa

Digital payment service provider SasaPay has undergone a rebranding and introduced a new financial strategy aimed at the mobile money payment market for diaspora customers. This new strategy is designed to provide a secure payment experience for a wide variety of businesses, from lenders to Small and Medium Enterprises (SMEs). The company plans to act as a bridge between businesses and capital providers, facilitating quick and affordable access to working capital. Daniel Njoroge, SasaPay’s Chief Operating Officer, said, “Through our rebrand, we aim to redefine the role of payments and act as the meeting point between Kenyan businesses and their…

Safaricom Plc has secured its first Sustainability Linked Loan (SLL) from a consortium of local banks, reinforcing its commitment to Environmental, Social, and Governance (ESG) initiatives.  The loan is valued at KES 15 billion and can potentially increase to KES 20 billion through an accordion mechanism.  This is the largest ESG-linked loan facility in East Africa and Safaricom’s first venture into such financing. A sustainability-linked loan is where the interest rate is tied to the borrower’s sustainability performance, specifically tailored to their ESG targets. Meeting these targets leads to reduced interest payments. Safaricom’s CEO, Peter Ndegwa, stated that this deal…

Restaurant chain Java House launched its latest innovation, Cold Brew Coffee, a ready-to-drink beverage made from 100% Kenyan Arabica coffee beans. The new product is part of Java House’s 24th-anniversary celebrations and its commitment to creating ground-breaking products that improve the coffee-drinking experience. Cold Brew Coffee comes in 330ml cans and is available in two flavours: sweetened and unsweetened. Unlike iced coffee and cold hot-brewed coffee, Cold Brew Coffee uses a unique brewing process that involves steeping medium ground-roasted coffee beans in water for several hours. This results in a smooth and flavourful coffee with a rich flavour and less…

Faith Kipyegon made history by winning the women’s 5000m final at the 2023 World Athletics Championships, adding to her 1500m gold medal from earlier in the competition. Faith ran 14:53.88 to become the first woman to achieve the 1500m and 5000m double. She also secured Kenya’s second gold medal at the event. https://twitter.com/WorldAthletics/status/1695514123566506123?s=20 “This has been an amazing year for me. Making history today, winning two gold medals in a championship is what I was dreaming for this season. “I have been patient waiting to be able to break world records and win double golds. But my dream just came…

Brenda Girls from Bungoma County and Lugari Progressive qualified for the girls’ final of the Safaricom Chapa Dimba Western region finals on Saturday. Brenda Girls emerged victorious after securing a commanding lead of 4-1 against Chakol Mixed from Busia. Brenda Girls bounced back from going a goal down at the break to score four times in the second half courtesy of a brace by Esther Mukhwana and goals by Lavenda Nasambu and Joina Namukuru. “We started badly in the first half, but we managed to bounce back in the second half. I am happy about the victory as we now…

WPP ScanGroup reported a 2% increase in gross profit for the first half of 2023, despite a challenging operating environment. The company attributed its growth to organic expansion from existing clients and new client wins across its markets. However, the company also incurred a one-off severance cost of 178 million shillings in the second quarter of 2023, as part of a comprehensive restructuring programme to reduce its cost base and reshape its staff structure. WPP ScanGroup said the programme was aimed at making the organisation more agile, efficient and future-ready, and that it expected to recoup the severance investment by…