The United States has revealed a strategic partnership with Kwale-based coconut processor Kentaste, that will create substantial economic opportunities for over 4,500 local farmers. The project is funded by a combined investment between USAID and Kentaste of more than $1.6 million, which will support efforts to expand Kentaste’s exports to the United States. U.S. support for the project comes from the United States Agency for International Development with funding from Feed the Future and Prosper Africa. The partnership is expected to increase Kentaste’s processing capacity by 67 per cent to 50,000 coconuts per day, generate 90 full-time jobs, and enrol 1,500…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Credit Bank Plc, an SME-based Bank in Kenya, has announced its intention to list its shares on the Nairobi Securities Exchange (NSE) by the end of 2023. The bank aims to raise at least KSh1 billion from the public through this initial public offering (IPO). Grace Nyachae, the bank’s longest-serving director, stated that the move is in line with the bank’s vision to expand its market presence and attract a wider range of investors. According to Nyachae, the listing is expected to bring numerous benefits to both the bank and its shareholders. These benefits include increased visibility, improved liquidity, and…
Uganda Airlines is expanding its reach by launching direct flights to Lagos, Nigeria. The inaugural flight is scheduled for October 19th, with flights operating every Sunday, Monday, and Thursday. The airline’s Chief Executive Officer, Ms. Jennifer Bamuturaki, stated that the move aims to increase efficiency and expedite the transit of goods and people between the two nations. Ms. Bamuturaki also mentioned that the first flight will depart from Entebbe at 4 p.m., opening Uganda to an economy of about $504 billion. https://twitter.com/UG_Airlines/status/1695150174937489891?s=20 Uganda Airlines began offering commercial flights in August 2019 after nearly 20 years of inactivity. The airline has…
Genghis Capital has issued a BUY recommendation for ABSA Bank Kenya in anticipation of the release of its H1’2023 financial results. This recommendation is based on the firm’s strong earnings momentum and above-average coverage ratio against protracted credit risks. “This is on the back of the firm’s strong earnings momentum coupled with the firm’s above-average coverage ratio against protracted credit risks,” Genghis said in its Equities Trading Idea for the week on Monday. As of August 25, 2023, ABSA Bank Kenya’s share price closed at Ksh 11.10 per share on the Nairobi Securities Exchange (NSE), recording a 4.3% drop from…
Muranga Seal secured their first-ever Kenya Premier League victory with a 1-0 win over Shabana FC at Raila Odinga Stadium, thanks to Batts Awita’s goal. The win lifted Murang’a Seal from the bottom of the table to second place with three points, while Shabana FC dropped to 18th place with nil points. https://twitter.com/murangaseal/status/1695807776574828643?s=20 Meanwhile, AFC Leopards, Nairobi City Stars, Posta Rangers and their opponents all settled for goalless draws. https://twitter.com/Officialfkfpl/status/1695819413281214824?s=20
Ebwali Boys of Vihiga emerged as the champions of the Safaricom Chapa Dimba Western Regional Finals boys’ category after a narrow 1-0 win over Compel Sportif of Bungoma. Austin Odongo, headed in a free kick in the 47th minute to score the final’s solitary goal. Compel Sportif tried to equalize, but they were denied by Ebwali’s goalkeeper, who made several saves to keep a clean sheet. Titus Gambo, Compel’s hat trick hero in the semi-final, saw his penalty saved in the final by goalkeeper Nelson Angayia in the 58th minute. Compel also hit the post late in the second half,…