Author: Muindi

The average price of Super Petrol, Diesel, and Kerosene increased by Sh3.40 per litre, Sh6.40 per litre and Sh15.19 per litre respectively. According to the latest review by the Energy & Petroleum Regulatory Authority (EPRA), the increase is attributable to the average cost of imported refined petroleum products, which has seen the landing cost of imports varying in price. As a result, the review is on track to hit a record high, setting up the first big cost-of-living challenge for the Kenyan government. The landing cost of super-petrol increased by 8.63% in March 2023, Diesel decreased by 2.51% and kerosene…

Ethiopia has granted Safaricom a licence to launch M-PESA. The telco expects to roll out the mobile money services before the end of the year, which is set to lift the profile of the service. The service was  launched in Kenya in 2007. “As of this morning (Thursday), Safaricom Ethiopia has officially been granted the licence to operate mobile money. We look forward to launching M-Pesa in the coming weeks,” chief executive officer Peter Ndegwa said during an investor briefing. The telco paid $150 million as licence fees to the National Bank of Ethiopia (NBE). “We welcome this shift to…

The Ellen Johnson Sirleaf Presidential Center for Women and Development (EJS Center) has announced the third cohort of African women set to join its flagship program, the Amujae Initiative. The cohort is made up of 12 female leaders from 10 countries across the African continent. They include current government ministers, members of parliament, senior government advisors, and activists engaged with issues ranging from economic development to gender equality and youth empowerment. The initiative has 42 African women leaders, known as Amujae Leaders, who have leadership roles in public offices across the African continent. The Amujae Initiative was launched by former…

Cactus Cantina Investments Limited (Cactus Cantina) has acquired a 55.8 per cent shareholding in Maisha MFB. Cactus Cantina is incorporated in Kenya and is wholly owned by Shara Inc. (Shara). Shara, which is incorporated in the state of Delaware, USA, and was co-founded by Grant Brooke and Peter Njonjo, offers affordable financing to small and medium enterprises (SMEs) and their value chains in Nigeria and Kenya. Brooke and Njonjo are also the co-founders of Twiga Foods, a B2B food and grocery distribution company. “The Central Bank of Kenya (CBK) announces the acquisition of 55.8 per cent shareholding of Maisha Microfinance…

The World Health Organization (WHO) has declared an end to the COVID-19 global public health emergency. “For more than a year, the pandemic has been on a downward trend with population immunity increasing from vaccination and infection, mortality decreasing, and the pressure on health systems easing,” WHO Director-General Tedros Adhanom Ghebreyesus said at a news conference in Geneva. “This trend has allowed most countries to return to life as we knew it before Covid-19,” Tedros said. “It is therefore, with great hope that I declare Covid-19 over as a global health emergency.” https://twitter.com/DrTedros/status/1654761984615645184?s=20 The WHO said COVID-19 was here to…

Kenya’s private-sector services activity shrank in April as inflation and political unrest hit demand, a survey showed on Friday. Activity levels and input purchases also fell sharply, but employment numbers continued to rise. On the other hand, input cost pressures showed further signs of having peaked, dropping to their lowest recorded in 2023 so far, though remaining steep. Stanbic Bank Kenya’s Purchasing Managers’ Index (PMI) fell to 47.2 from 49.2 in March. The index also signalled a solid and faster decline in the health of the private sector economy at the start of the second quarter. Readings above 50.0 signal…