Author: Korir Issa

Quickmart Supermarket’s bullishness will not stop any time after expanding its branch network by opening a new outlet at Tuskys Mall (T-mall) located along Lang’ata road. The retail space had previously been occupied by cash-strapped Tuskys Supermarket. This brings its total number of operational outlets to 51, having opened two other outlets in Kitengela and Machakos towns. https://twitter.com/QuickmartKenya/status/1520393833179193345?s=20&t=bqQEZhr0R4w9CHwwkl7iyA According to Cytonn Investments, the decision to open the outlet in Lang’ata is supported by; “The need to step up (market) competition and market domination against retailers such as Naivas that has opened 4 outlets this year, while also having plans to…

Airtel Kenya has paid KSh1.13 billion to the Communications Authority (CA) for a new spectrum license to be used for 10 years. This means the telco will be able to meet rising demand from its customers in need of additional data services without increasing bundle charges. As a result, the regulator has given the operator a non-contiguous 2×10 MHz block of spectrum in the 2100 MHz for $10 million valid for 10 years. In addition, the telco has committed itself to clear the KSh2.2 billion bill for its current license it has been using since 2015. The telco’s operating license…

The Kenya shilling in April slumped to an all-time low exchanging at 115.8 units against the dollar on increased dollar demands by importers and corporates. This was a 0.7 percent depreciation from Kshs 115.0 recorded at the end of March 2022. The demand has been on the back of increased global oil prices against a slower recovery in exports and in the tourism sector according to Cytonn Investment Analysts. “On a year-to-date basis, the shilling has depreciated by 2.3 percent against the dollar, in comparison to the 3.6 percent depreciation recorded in 2021,” they note, A weak shilling leads to…

As a part of marking Ramadhan, DIB Bank Kenya Limited, a subsidiary of Dubai Islamic Bank treated its customers to an Iftar Dinner for their support and shared cheer during this holy month of Ramadhan. Ramadhan, a season of prayer and fasting for the Muslim, is a time to reflect on their lives and purposely focus on the positivity.  It is also a season of cheer when people come together and break the fast as they share meals.  ” As an Islamic Bank, sharing a meal is an important part of Ramadhan, and today we have come together to share…

Regional low-cost airline Jambojet plans to focus on the domestic routes and give a pause on expansions. The airline says this is meant to consolidate its business within the country. It currently operates passenger aircraft to its eight destinations within Kenya; Nairobi, Mombasa, Eldoret, Kisumu, Mombasa, Malindi, Ukunda,  and Lamu. It also operates flights from Mombasa to Lamu, Eldoret, and Kisumu. In March, it said its 44 percent domestic market share, having flown 4.9 million passengers since its inception in 2014. “No additional for the year, the rest (routes) are long-term of two to three years, for now, we are…

Diaspora remittances in the first quarter of 2022 grew by 23.5 percent to Ksh.118.4 billion ($1.024 billion) according to the Central Bank of Kenya (CBK). Dollar flows from Kenyans living and working abroad rose from Ksh 95.9 billion ($829.4 million) over a similar period in 2021. March remittances surged by 25 percent from Ksh.33.6 billion ($290.8 million) to Ksh.42 billion ($363.6 million). According to the CBK, the US remains the largest source of remittances in Kenya, accounting for 58 percent in the period. “The strong remittances inflows continue to support the current account and the stability of the exchange rate,”…