Author: Muindi

The Kenyan shilling ended marginally lower against major international currencies week ending July 9. Central Bank of Kenya (CBK) quoted the shilling at Ksh106.96 against the US dollar on July 9 compared to Ksh106.54 per US dollar on July 2. During the week, the shilling averaged Ksh106.72 against the US Dollar, Ksh133.42 against the Sterling Pound, Ksh120.34 against the Euro, and Ksh99.26 against the Japanese Yen. The shilling was under pressure due to increased dollar demand from merchandise importers and the energy sector due to the easing of COVID-19 restrictions.  During the week, the country’s foreign exchange reserves remained adequate…

Safaricom has partnered with UNESCO, and Eneza Education to implement a digital mentorship programme for high school students interested in Science, Technology, Engineering and Mathematics (STEM). The program involves working with role models and mentors to provide students with information on STEM subjects to enable them to make informed career choices. Learners will get a chance to engage with tutors through programs on local TV and community radio stations as well as through SMS via the shortcode 40291. Safaricom’s CEO, Peter Ndegwa said that they were implementing lessons picked during this COVID-19 pandemic to partner with other organisations to provide…

Safaricom is introducing an Android TV Box as part of a strategy to bring its Home Fibre service to more homes. It also enables customers to wirelessly project their smartphone and laptop screens to the TV through screencasting.  “Our Home Fibre service has been well received as it offers unlimited internet connectivity for the entire family in an affordable, monthly package,” said chief executive officer Peter Ndegwa. The TV Box will retail at KSh6,999 and equips any TV with the capability to stream content from Android TV applications like YouTube, Netflix, ShowMax, Hulu, Sling.  Apart from the latest product offer,…

Huawei Kenya and partners organized an online job fair seeking to hire more than 40 professional ICT workers. The 40 positions include IP/IT Solution Engineers for the Enterprise Business division, Software Service Engineers as well as Technical Solution Engineers. ICT Principal Secretary Dr Jerome Ochieng who attended the job fair said Kenya will continue to expand the IT infrastructure across the country to facilitate firms to transfer jobs online as well as enable Kenyans to seek online jobs.  During this COVID-19 period, the country is more dependent on ICT than ever before. READ Huawei Unveils IdeaHub for Sub-Saharan Africa to…

The East African Business Council (EABC) recommends regional coordinated guidelines and measures on the opening of the aviation sector to bolster consumer confidence and support the recovery of the sector. Dr. Peter Mathuki, Executive Director EABC says there should be a waiver on landing fees, excise duty on aviation fuel, navigation, landing, and parking to cut airline’s operating costs. “In the opening of the regional air transport services, the EAC partner states should consider temporarily granting freedom rights to effectively increase capacity, reduce inefficiencies and costs,” Mathuki said in a statement. “The East African Business Council urges the EAC partner…

Mauritius Union Assurance (MUA Ltd), an insurer that owns subsidiaries in East Africa, has acquired a 100% stake in Saham Assurance of Kenya in a deal worth Ksh 1.23 billion. This was realised after getting all the regulatory approvals from the Insurance Regulatory Authority (IRA, Kenya), the COMESA Competition Commission and the South African Reserve Bank and the Competition Authority of Kenya.  The transaction will allow MUA to strengthen its presence in the Kenyan market, leading to significant synergies. The transaction was through a Share Purchase Agreement (SPA) done through its subsidiary MUA Insurance (Kenya) Limited (“MUA Kenya”). Saham Assurance…