Author: Muindi

Kenya’s fishing sector gained a milestone after the country exported its first batch of anchovies, locally known as ‘omena,’ to China in June. This was made possible by a bilateral agreement signed between the two countries in January 2022. The 52-tonne shipment of omena was delivered under an agreement that benefits both countries. Wu Peng, Director-General, Department of African Affairs, MFA, China, announced on X.com that more shipments are on the way. “The FOCAC Green Channel for African agricultural exports is bringing tangible benefits to African and Chinese people.” https://twitter.com/WuPeng_MFAChina/status/1701191909946138641?s=20 The first batch of Kenyan wild anchovy products debuted at the…

Absa Bank Kenya has broadened its financial services for Kenyans living abroad through its digital platform. This enhancement aims to simplify sending money and managing projects from overseas, addressing common challenges faced by the Kenyan diaspora. The self-service platform allows Kenyans abroad to complete the onboarding process within minutes using their mobile phones or the bank’s online platform. Existing and non-customers can register on Absa Bank’s website or via the Absa Banking app and start transacting. Abdi Mohamed, Managing Director of Absa Bank Kenya PLC, stated “This proposition will offer various banking options as if the customers were living in…

Kenya’s Ministry of Information, Communications, and the Digital Economy has announced the formation of a Sector Working Group to oversee policy and legislative reforms. Cabinet Secretary Eliud Owalo, during the group’s inauguration, emphasized the need for updated laws and policies to effectively legislate and regulate the expanding mandate of the Ministry. The group’s responsibilities include examining existing policy, legislative, institutional, administrative, and operational structures, systems, and strategies. They will recommend comprehensive reforms in the sector, identify emerging technologies that require legal and policy intervention, and make appropriate policy and legislative proposals. Furthermore, they will assess necessary reforms to enable the…

The Safaricom Chapa Dimba tournament continues its thrilling journey as it heads to Siaya and Kisii counties for the Nyanza County finals this weekend. On Saturday, Siaya County will set the stage for an electrifying opening match between Jera Girls from Ugenya and VSA Girls from Gem at Siaya KMTC Grounds. In the afternoon, Ambira Mobimba Secondary School from Ugunja will take on St. Peter’s Wagai Mixed Secondary School from Gem. On Sunday, Kisii Queens will face off against Kenyenya’s Moteiribe FC while Small Simba will go head-to-head with their rivals Ichuni FC at Sameta Grounds, Kisii County. “I am…

The Nairobi Securities Exchange (NSE) has introduced two new market indices: the NSE 10 Share Index (N10) and the NSE Bond Index (NSE-BI). The N10 Index, which came into effect immediately, will monitor the performance of the equities market and consist of 10 prominent companies, including Safaricom Plc, Equity Group Holdings Plc, and KCB Group Plc.  The NSE-BI, to be launched on October 1, 2023, will focus on the bonds market and be based on benchmark Government bonds listed on the NSE.  Additionally, NSE has made alterations to the NSE 20 Share Index by replacing WPP Scan Group Plc, Nairobi…

Kenya’s private sector improved marginally in August, as output and new orders returned to expansion, according to the Stanbic Bank Kenya Purchasing Managers Index (PMI). The PMI rose to 50.6 in August, up from 45.5 in July, the first time in seven months, albeit a marginal one. Standard Bank’s economist, Christopher Legilisho, attributes this recovery to an increase in output and new orders, buoyed by greater political stability.  However, he also notes that business conditions continue to be affected by rising input prices, which have led to the fastest increase in selling charges since June 2022. The PMI survey revealed…