Kenya has 8,500 individuals with a net worth of over $1 million (KSh117 million).
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Branch International is the first mobile digital lender to acquire a majority stake (84.89 per cent) in a banking institution
Tea farmers will receive 371.1 billion shillings as bonus payments for the fiscal year ending June 2022. According to Kenya Tea Development Authority (KTDA), this is the highest second payment in the last four production years. https://twitter.com/KTDATea/status/1543466828315377665?s=20&t=pC5RHDpo8ZKN26i2gMeOxw Factories in the west of Rift Valley recorded the most significant improvement in payment with an average increase of more than 55.1 per cent, while those in the east recorded a 38.1 per cent growth. Sanganyi factory registered a 100 per cent increment, Kiamokama (84 per cent) and Kapsara (81 per cent). This year, Sanganyi will pay its farmers Sh48 per kilo of…
UBA Kenya plans to double its branch network in the country to 10 by the end of 2023. “Before the end of next year, we hope to increase by five more branches. Last year we took a strategic decision to reach out to cities outside Nairobi,” Chike Isiuwe, an executive at the bank’s parent firm UBA Group, said while addressing the Mombasa business community, as quoted by the Business Daily. The bank is a United Bank for Africa Plc subsidiary, a Nigerian pan-African financial services group headquartered in Lagos. Its head office in Kenya is located on the ground floor…
The African Football Confederation (CAF) has moved the dates of the next Africa Cup of Nations finals to January 2024 and not 2023, president Patrice Motsepe said on Sunday. The tournament was to be hosted in June-July 2023, the height of the rainy season in the Ivory Coast. “We took a lot of advice, and we decided we cannot take a risk,” Motsepe told a news conference. “We don’t want to run the risk that our top competition will be washed out.” Motsepe also announced the creation of an African Super League next season, formally launching on Aug 10. Africa…
Kenya’s trade deficit widened to KSh333.4 billion in the first quarter of 2022 as imports hit a record high of 14.5 per cent to KSh 542.5 billion, mainly due to increased import of petroleum products. This deficit is compared to KSh281.4 billion in the first quarter of 2021. Data from the Kenya National Bureau of Statistics (KNBS) shows that export earnings grew by 8.8 per cent to KSh209.1 billion in the first quarter of 2022 as a result of an increase in the value of exports of tea. International trade in services receipts increased from KSh110.9 billion in the first quarter of…