Author: Muindi

Kenya’s Economy likely rebounded in the first quarter of 2022 from a deep contraction in the same period last year, helped by an improved services sector and despite the sixth wave of COVID-19 cases. The Kenya National Bureau of Statistics says the economy expanded by 6.8% from a revised 2.7%.  KNBS attributed the faster growth to a recovery in transport and storage, accommodation and food provision, and other services sectors. “The growth was also supported by accelerated growths in manufacturing, wholesale and retail activities and financial and insurance activities coupled with sustained growth in construction, real estate and information and…

The Business Tool will be used to analyse and disseminate data in real-time to trade facilitators and government agencies aimed at making better data-driven decisions.

The Central Bank of Kenya (CBK) has floated an 18-year Infrastructure bond worth KSh 20 billion to fund projects in the 2021/22 budget estimates. The bond sale runs between 28th June 2022 and 7th July 2022 or upon attainment of the required amount. According to the CBK,  bids will be allocated on a first-come-first-served basis, while the CBK will offer investors a coupon rate of 13.742%. The bond is an addition to two re-opened 15-year fixed coupon treasury bonds intending to raise KSh 40 billion for budgetary support. The period of sale of these re-issued treasury bonds is between 28th…

Boomplay, Africa’s most extensive music streaming and download platform, has announced a partnership with Technology Company Telkom, enabling subscribers to enjoy more affordable music streaming and downloads on the Boomplay app. This partnership will make music more easily accessible to Kenyans, offering subscription packages that will enable Telkom users to access the over 75 million local and international songs on Boomplay for as low as Sh299 a month. This package will also give Telkom subscribers access to ad-free music and unrestricted downloads from artists such as Otile Brown, Nadia Mukami, Khaligraph Jones, and Nikita Kering, amongst other homegrown and international…

French private equity firm Amethis, and the International Finance Cooperation consortium, sold an estimated 30.0% stake in Naivas supermarket to IBL Group and other investors

Safaricom witnessed a decline in active subscribers in the first three months of this year according to the Communications Authority sector report for the first quarter. The decline has been attributed to the ongoing deactivation of unregistered SIM cards, a directive from the authority. Safaricom’s registered subscribers fell from 42.8 million in December last year to 42.4 million at the end of March, bringing the telco’s market share down marginally to 65.3 per cent from 65.8 per cent the previous year.  Airtel Kenya, on the other hand, registered an additional 303,198 subscribers while Telkom Kenya registered no change in the number…