MultiChoice Kenya and Azuri Technologies have announced a partnership to bring DStv content to off-grid households in Kenya. They were the first to launch a complete pay-as-you-go solar TV package in Kenya. The partnership bundles Azuri’s TV400 product, the 32” solar-powered TV and household energy solution, with the DStv HD decoder to offer customers access to entertainment, local and international news, documentaries, and educational content. “By expanding the choice of content available to even off-grid customers, we are taking another step in shrinking the gap between households with and without the grid,” Simon Bransfield-Garth, CEO of Azuri said. Azuri’s comes…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Equity Bank Tuesday signed a $100 million (Ksh 10.9 billion) loan agreement with Africa Development Bank (AfDB) to support its expansion across Eastern and Central Africa. The financing will be used to enhancing its ability to serve small and medium enterprises (SMEs as it grows. This is the lenders’ sixth tranche for Equity Group after having signed a $50 million USD (Kshs 5.5 Billion) loan facility with IFC in September; a $100 million USD (Ksh 11.0 Billion) from Proparco in October and a EUR 125 million (Kshs 16.5 Billion) loan facility with the European Investment Bank, a US $100 Million…
Kenya’s biggest bank group KCB said on Tuesday it was presented with the Global Finance Award by the Global Finance Magazine during their 28th annual awards for the World’s Best Banks. The lender said this is the third year in a row it has been recognised for its robust market presence in the East African region, and its digital innovation to drive financial inclusion. “With such recognition, we are constantly motivated to continue putting in the effort to ensure we can serve our customers to the best of our abilities,” KCB Group CEO and MD Joshua Oigara said. Global Finance,…
Umeme Limited, Uganda’s main electricity distribution company, says it expects to post a net profit decline of up to 60% for the year ending 31 December 2020. In 2019, the company recorded a net profit of Ushs 139 billion ($37.88 million). It attributes the expected decline to the effects of COVID-19, regulatory lags and a suspension of the state’s free connections policy. “The reduction in profitability is attributed to the effects of the Covid-19 pandemic, regulatory lag, and suspension of the Government’s free connections policy.” The Company’s operations include operating and maintaining an electricity network, meter reading, billing, revenue collection…
Property fund Ilam Fahari I-Reit reported a 15.5% decline in profit to Kshs 148.0 million in FY’2020 from Kshs 175.2 mn in FY’2019 The fund, which is managed by ICEA Lion Asset Management attributed the decline to a reduction in fair value gain on revaluation of investment property compared to prior year against the backdrop of Covid-19 pandemic whose “impact is a material valuation uncertainty in the short to medium term,” it said. Rental income declined by 0.9% to Kshs 341.2 mn, from Kshs 344.3 mn in FY’2019 mainly attributable to the COVID-19 impact on the retail and commercial office…
Kakuzi to increase its dividend to KShs 18 per share Agricultural firm Kakuzi PLC posted has reported a 13% decline in net profit to KSh 622 Million at the close of the period ended 31st December 2020 compared to a net profit of KSh 713.4 for the same period 2019. The firm’s pre-tax profit declined to KSh 847.5 Million in 2020 from the previous KSh 1,014 Million in 2019. The listed firm achieved robust results for the year, despite the uncertainty in its main sales markets caused by the COVID-19 Pandemic. “The pandemic created significant disruption in our main European…