Author: Muindi

The Treasury is targeting KSh 70 billion from two bonds (FXD1/2022/003 and FXD1/2022/015) auctions in April 2022 from the domestic market. The three-year paper seeks to raise Ksh 40 billion and a new 15-year paper worth Ksh.30 billion. Yields on the two papers will be determined during the papers’ auctions which run to April 19. In March, the National Treasury received Ksh.42.4 billion from two bond auctions off its target of raising Ksh 50 billion. For instance, investors’ participation in the Tap sale of FXD1/2021/005, FXD1/2020/015, and FXD1/2021/025, bids worth Ksh 24.89 billion were received against a target of Ksh…

NCBA Group PLC’s net profit more than doubled to KSh10.2 billion from KSh4.6 billion in 2020. The lender attributes the sterling performance from its banking, unit trust, and investment bank operations. “While there is still much more to do, it is clear that our merger is paying dividends. The results are a reflection that we are delivering on our strategy despite the headwinds introduced by Covid-19,” Group Managing Director John Gachora said. NCBA Board resolved to recommend a final dividend for the year of KSh 2.25 per share which, together with the interim dividend of KSh 0.75 per share paid…

Health authorities in Kenya say over 840, 000 doses of the AstraZeneca coronavirus vaccine have expired because they were not utilized. The doses had an expiry date of February 28. The Ministry of Health on Wednesday said most of the expired doses came from Nakuru (35,790), Busia (27,980), Kajiado (25,770), Kakamega (12,870), and Kwale (11,730) counties. By January 2022, Kenya had about 2.2 million doses of the Covid-19 AstraZeneca vaccines doses. Health Cabinet Secretary Mutahi Kagwe in his daily briefing disclosed that the low intake of the vaccine is due to complacency by Kenyans following a reduction in the positivity…

Safaricom plans to grow its digital business enterprises and diversify revenues to exploit Kenya’s growing digital economy.  The telco that aims to become a purpose-led technology organization by 2025, will leverage its connectivity and experience by expanding its tech solutions in the areas of digital business through cloud computing, cyber security, and the internet of things (IoT) underpinned by IT consulting services. The IoT technology enables device-to-device communication over the internet, including tracking and ring-fencing of assets among other services.  “As Kenya’s digital economy continues to expand across various sectors, we are well prepared to provide matching tech solutions that…

Samsung Electronics has created a new division called DX, (device experience) which integrates its mobile and consumer electronics businesses into a single unit. Through the new unit, it projects to grow its market leadership in the East African region. Under the DX Division, the Company expects to strengthen synergies among the diverse businesses and create differentiated products and services. “Under the DX Division, the company expects to strengthen synergies among the diverse businesses and create differentiated products and services,” said Tae Sun Lee, Managing Director of Samsung Electronics East Africa. This was revealed during the company’s inaugural strategic partner summit in…

Ride-hailing app, Bolt, has increased its fares by 4 per cent due to a rise in fuel costs.   Under its light category, it has been increased from KShs 150 to KShs.180 and the start fee from KShs. 55 to KShs. 70. Bolt previously charged KSh26.90 per kilometre on its budget ride category (dubbed Lite), and the new changes will see the prices go up to KSh27.37 per kilometre in Nairobi. Bolt Base, Bolt Green and Bolt Women Only will also have similar increases in fare per Km. per Km prices on the XL category will increase by KSh0.66 fare per…