Remittances sent to Kenya rose by nearly 18.8 per cent year-on-year to $309.8 million in September, the central bank data showed on Friday. This is compared to USD 260.7 million in September 2020. However, this was a marginal decline of 1.0 per cent compared to USD 312.9 million in August. “The cumulative inflows for the 12 months to September 2021 totalled USD 3,530 million compared to USD 2,967 million in the same period in 2020, a 19.0 per cent increase,” the CBK said. The United States remains the largest source of remittances into Kenya, accounting for 61.8 per cent in…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Kuwait-based National Aviation Services (NAS), one of the fastest-growing aviation services provider in emerging markets, has expanded in Kenya with a 51 per cent stake in Siginon Aviation Limited- a subsidiary of the Siginon Group. The $40 Million acquisition aligns with NAS’s expanded focus on the cargo business is projected to strengthen the ground handling, ramp handling and cargo handling capabilities in the region, especially in East Africa. “During the pandemic, our cargo services came to the forefront by keeping crucial supply chains flowing uninterrupted. With the ongoing vaccine requirements around the world, we also handled almost a million doses…
LG Electronics East Africa (LG) has rolled out a two months’ campaign to educate consumers on emerging trends in TV technology so as to make informed purchase decisions. The campaign dubbed How to Choose your TV highlights innovative features of LG’s latest smart TV products and educate consumers on how to identify a genuine TV. LG Electronics East Africa Managing Director Sa Nyuong Kim says the campaign is targeting consumers buying TVs for both home and business use and is partly informed by the growing demand for smart appliances due to lifestyle shifts driven by the digital revolution. “The home…
Kenya Airways and British Airways on Thursday announced that they have entered into a codeshare agreement that will enable the former to connect to 26 destinations across the UK and Europe. They include Glasgow, Madrid, Milan, Amsterdam and Frankfurt. On the other hand, British Airways will be able to fly to 20 destinations across east and central Africa. They include Zanzibar, Tanzania; Mombasa, Kenya; Addis Ababa, Ethiopia; and Entebbe, Uganda. Julius Thairu, Chief Commercial and Customer Officer at Kenya Airways said: “By harnessing our complementary strengths, this agreement will also provide benefits to aid the recovery of international travel and…
Grit Real Estate Income Group, a London listed firm has issued a bond to raise up to $31.5 million to acquire, expand and redevelop the Orbit Africa warehousing and manufacturing facility in Nairobi, Kenya, on a sale and leaseback basis. The funding was secured from Mezzanine Partners GP Proprietary Limited and BluePeak Private Capital with backing from an IFC debt facility. “The total purchase consideration of USD 53.6 million will be settled by way of USD 25 million in senior debt finance negotiated with the International Finance Corporation, a member of the World Bank Group, and USD 28.6 million through…
Apple Inc on Monday introduced new third-generation AirPods and MacBook Pro laptops, with new screens and high-end M1 Pro and M1 Max chips. “We are excited to introduce the next generation of AirPods, featuring unrivaled sound through Adaptive EQ and spatial audio with dynamic head tracking, along with seamless interaction between Apple devices — making the world’s best-selling headphones even better,” said Greg Joswiak, Apple’s senior vice president of Worldwide Marketing. Apple AirPods: Key features and specs Spatial audio Dynamic audio driver Water-and-sweat resistant Contour semi-in-ear design Adaptive equalizer 30 hours of total listening time MagSafe and Wireless charging case…