Author: Muindi

Pula, a leading Agricultural technology that develops and deploys crops and livestock insurance, in partnership with APA Insurance announced KSh85.1 million as the initial payout to 13,523 insured farmers in the Coast region for losses incurred during the 2021 March to May season.  The farmers were drawn from Kwale, Taita Taveta, and Kilifi counties that had cultivated cowpeas, green grams, sorghum, and maize. “The payout, made through lead insurer APA Insurance, targeted farmers participating in the KCEP-CRAL Program established by the Government of Kenya with support from European Union, IFAD, and FAO,” Pula Advisors said in a statement. The KCEP-CRAL…

The Braeburn Group of International Schools says it is at an advanced stage to acquire Hillcrest International School.  A statement dated January 25, to parents, staff and students, says the parties have reached an “in principle” agreement on January 20 to sell the entire business and assets of Hillcrest Schools (kindergarten, preparatory and secondary), to Braeburn Schools Limited. The sale agreement is however subject to approvals from the Ministry of Education and the Competition Authority of Kenya. “On completion of the sale transaction, Braeburn intends to continue operating the Hillcrest Schools under the Hillcrest brand and offer the highest quality…

The International Monetary Fund, on Tuesday, slashed its global growth forecast for the calendar year 2022 to 4.4 per cent from 4.9 per cent projected in the previous World economic Report in October. “The global economy enters 2022 in a weaker position than previously expected. As the new Omicron variant spreads, countries have reimposed mobility restrictions. Rising energy prices and supply disruptions have resulted in higher and more broad-based inflation than anticipated, notably in the United States and many emerging markets and developing economies,” the IMF said in its report on Tuesday. https://twitter.com/IMFNews/status/1485976619609206784?s=20 “Global growth is expected to slow to…

Kenya has lifted an entry ban for passengers arriving from the United Arab Emirates (UAE). The temporary entry ban was imposed on January 10.  This move was in retaliation to the UAE issuing a ban on all inbound and transit passengers from Kenya in December 2021, citing fake COVID-19 certificates from Kenyan travellers. However, the ban did not affect cargo flights. Kenya Civil Aviation Authority (KCAA) Director-General Gilbert Kibe said the ban was lifted Monday midnight, offering relief to travellers between the two destinations. “Kenya shall do a NOTAM lifting the suspension of flights to and from UAE from midnight…

Microsoft and FedEx on Monday announced a multi-year collaboration to transform commerce, supply chains and logistics. The partnership brings FedEx network intelligence with Microsoft Dynamics 365 to create a cross-platform “logistics as a service” offering for retailers, merchants and brands. In 2020, the two announced a collaboration that includes joint product development. This involves the collection of data from the FedEx logistics network and analyze it through Microsoft’s Azure Cloud. “More than ever, it’s clear just how critical having a resilient supply chain is for every organization’s success in the modern economy,” said Microsoft Chairman and CEO Satya Nadella in…

The Co-operative Bank of Kenya will open 7  branches across the country in the 2022 fiscal year to expand its footprint to 180. The tier one listed lender says the branches will complement its alternative channels.  The seven will be located at Kamakis on Nairobi’s Eastern Bypass, Kabarnet, Iten, Moyale, Mwiki/Kasarani, Bunge at the Parliament Tower in Nairobi and Kamulu in Nairobi Eastlands that opened doors in December 2021. “The emerging theory that bank branches and ATMs will cease to exist is largely wishful thinking driven by desire to cut brick-and-mortar costs, and not by credible customer feedback on the…