Author: Muindi

The Central Bank of Kenya rejected bids worth Ksh 22.5 billion for its re-opened bonds FXD1/2021/05, FXD1/2020/15 and FXD1/2021/25 in March. The bonds subscription rate was at 81.9% due to the tightened liquidity in the money markets during the bonds’ sale period. The interbank rate averaged 5.6%, in comparison to an average rate of 4.7% in February 2022.  The CBK had planned to raise Ksh 50 billion for budgetary support in the current fiscal year. It received bids worth Kshs 40.9 billion and accepted bids worth Kshs 18.5 billion, translating to a 45.1% acceptance rate. Investors preferred the longer-tenure issue;…

Chinese video-sharing app TikTok has launched SoundOn, an all-in-one platform for music creators. The platform allows artists to upload their music directly to TikTok and to distribute it to various music streaming services.  No hidden transaction fee nor subscription fee will be charged, the app’s parent company ByteDance said. With SoundOn, artists will be able to distribute their music to TikTok’s in-house partners such as TikTok and Resso, and global streaming platforms such as Apple Music, Deezer, Joox, Pandora, and Spotify. They would be able to view the list of platforms and choose which stores they’d like to distribute to…

Kenya Airways on Monday said it would commence daily flight services between Nairobi and London under a route network review program that affects both local and international routes. “The network review is routine and is informed by the return to air travel as the aviation industry recovers from the COVID-19 pandemic. As a result, some routes will have frequency increment, frequency reduction, schedule changes, suspension and postponement of route opening,” the airline said in a statement. Under the program, KQ will increase frequency for the London route throughout winter from planned five times weekly to daily marking the fastest recovery…

Stanbic Bank inaugurated its branch in Kisumu City in response to the expanding market and the dynamic customer needs. The new branch is set to be a one-stop hub where customers can carry out all their banking and transaction needs 24/7 anytime with the inclusion of Cash Deposit Machines and ATMs. Following the branch opening, the Stanbic Kenya Foundation signed an MoU with the county government, part of the bank’s FutureNiDigital campaign. The campaign was launched in 2021.  https://twitter.com/StanbicKE/status/1499716898367447049?s=20&t=OyAKbpKylinKP_GqMyfTHw As outlined in the MoU, the Stanbic Kenya Foundation and the county government will offer training on digital knowledge and skills;…

Quickmart Supermarket aims to fortify its proposition of providing fresh produce and locally produced products to stay ahead of Kenya’s retail sector competition. The retailer said in a statement during the launch of its 50th outlet in the country in Machakos County and the first in the Eastern Kenya region. “Situated at the heart of Machakos, the pioneer branch will also mark the entry of the supermarket’s chain of stores into the Eastern region, expanding its presence to 14 counties across Kenya,” the retailer said. “The launch of the stores will greatly promote the local farmers and other suppliers since…

Eliud Kipchoge of Kenya, the greatest marathoner of all time, on Sunday won the Tokyo Marathon in 2:02:40. In the women’s race, world record holder Brigid Kosgei, 28, won in 2:16:02, the third-fastest marathon of all time. https://twitter.com/EliudKipchoge/status/1500309704827940864?s=20&t=IH7nezF3M30VPt1j-JDTrQ https://twitter.com/fast_women/status/1500297149510213633?s=20&t=9J2G4O3_lctkcSaDWvpMMA Kipchoge’s win was the fourth-fastest marathon time in history. Kipchoge led a Kenyan one-two finish with Amos Kipruto coming home second in 2hrs, 03mins, 13secs as Ethiopia’s Tamirat Tola finished third in 2hrs, 04mins, 14secs. “Kipchoge’s performance is the fourth-best ever behind his own world record of 2:01:39 set in Berlin in 2018, while Kosgei’s is a time that only she…