Author: Muindi

Data wars are not going to stop any time soon among top telecom and broadband players, Safaricom is now offering 100 per cent bonus data to customers upon attaining their daily data targets in a new campaign.  Customers can check their daily targets on MySafaricom App and usage by dialling *544# and selecting ‘0’ – Nyakua Bonus. Dubbed ‘Nyakua Data Dabo Dabo’,  which builds on the successful Stori Ibambe program that was introduced in 2015 to reward airtime usage, now enables both prepay and postpay customers to enjoy more internet for less. “Our aim is to enable digital lifestyles by…

East African focussed Gold Producer, Caracal Gold, raised US$2.7 million via a share placing for the Kilimapesa gold mine in Kenya. The firm had placed 177 million new ordinary shares that were bought by a major shareholder of the company and strategic clients of Clear Capital Markets, a UK- based stockbroker and wealth manager. https://twitter.com/CaracalGoldplc/status/1492028830445412364?s=20&t=h5VhX-bIgGRDfh7vtQXP-w “The funds will help advance our active growth plans further at Kilimapesa, as we target a 100% gold production uplift to 2,000 ozs per month in 2022, and at a highly prospective time for gold producers,” Chief Executive Robbie McCrae said. The Kilimapesa Gold Mine…

StarTimes Media will expand local content production in the East African region with an additional investment of Ksh 200 million. This will bring its spending on local content to over Ksh 400 million.  The company’s services are available in over ten African countries, including Kenya, Nigeria, Tanzania, Uganda, Rwanda, Burundi, and Sudan, as well as two broadcasting centres in Dar es Salaam and Abuja. “Our premium local drama – NIA being the first local production investment this year, will set the tone on our commitment to quality local entertainment for our subscribers. We are looking forward to increasingly growing our…

Moody’s Investors Service in early February assigned, for the first time, a stable rating to the Kenyan banking sector. “…on expectations that a recovering economy will enable banks’ loan quality and profitability to rebound from weakened levels, while capital, funding and liquidity will remain strong,” Moody’s said in a statement.  However, besides loans as the min credit challenge facing Kenyan banks, the agency noted that non-performing loans (NPL) will decline in the next 12 to 18 months. The Central Bank of Kenya shows that the banking sector posted an impressive performance in the eleven months to November 2021. During the…

Chicken Cottage Limited, a UK-based fast-food chain is now aiming to tap into Hass Petroleum Group’s market to increase footprints in Kenya. The chain plans to open 50 outlets at Hass Petroleum’s service stations in Kenya and the rest of East Africa beginning April it said in an emailed statement. The expansion is through a franchise deal with Express Kitchen, a subsidiary of AAH Limited, the majority shareholder of Hass Petroleum Group. Hass Petroleum Group operates 150 petrol stations in ten African countries. “We are delighted to be partnering with Express Kitchen Ltd and their experienced team to bring our…

Finnish development financier Finnfund plans to set up its first regional office in Kenya in May 2022. The 2-3 investment professionals will be deployed to the Nairobi office. “Africa is the place to be for European development financiers. It is a continent where jobs and investments are very much needed, and at the same time, it is the new frontier, where opportunities are abound, and life is getting better for millions of people. Some of our best and most impactful investments are in East Africa, and we intend to make many more such investments in the coming years,” says Jaakko…