Author: Muindi

Glovo, a leading on-demand delivery platform, plans to invest KSh 2 billion in Kenya to drive economic growth. By 2027, the company aims to increase direct and indirect employment by 50% and create 1,200 new job opportunities for Kenyan youth to combat unemployment. This commitment was formalised through a Memorandum of Cooperation signed with Kenya’s Ministry of Labour and Social Protection. The company aims to boost direct and indirect employment by 50% by 2027 and address youth unemployment by creating 1,200 new opportunities for young people. The announcement was made during the signing of a Memorandum of Cooperation with Kenya’s…

The World Bank forecasts sub-Saharan Africa’s economic growth to rise slightly to 3.7% in 2025, up from 3.5% in 2024. This modest acceleration makes the region one of only two globally, alongside the Middle East and North Africa, expected to see growth strengthen this year, according to the Bank’s latest Global Economic Prospects report. However, the Bank cautions that this forecast “assumes the external environment does not deteriorate further, inflation declines as expected, and regional conflicts subside.” Despite the improvement, the projected growth remains below the region’s long-term average and is “insufficient to make substantial progress in reducing extreme poverty.”…

You’ve probably seen it on your store receipt or felt it at the gas pump: Value Added Tax (VAT). Whereas it’s not the most glamorous line item, VAT is a consumption tax levied on the value added to goods and services at each stage of the supply chain, from production to final consumption.  This means that VAT is borne by the end consumer, with businesses acting as collection agents who then remit it to the taxman. With this in mind, one would expect an upward trajectory in collection; however, in Kenya, VAT compliance has been a rocky road. For instance,…

Family Bank has strengthened its national presence with the opening of its 96th branch, located at Kilifi Plaza in Kilifi County. This marks the bank’s 9th branch in the coastal region. The new branch offers tailored services, including asset finance, women’s banking, business financing, trade services, loan facilities, and digital banking solutions to enhance customer convenience. “Our focus remains on retail banking. Kilifi’s growing demand for financial services presents a compelling opportunity to support the local business community’s growth,” said Family Bank CEO Nancy Njau. She added, “This expansion reflects our commitment to empowering SMEs and strengthening our position as the…

Tata Chemicals Magadi was crowned the overall winner at the 2025 Energy Management Awards (EMA), hosted by the Kenya Association of Manufacturers (KAM). Milly Glass Works secured the runner-up position. The 21st EMA recognized outstanding corporate efforts in advancing energy efficiency and sustainability in Kenya, aligning with the nation’s net-zero emissions goals. First Lady Rachel Ruto highlighted the need for inclusive infrastructure through initiatives like the Last Mile Connectivity Project to expand rural electricity access. She stressed equitable energy transitions, noting, “By promoting clean cooking solutions, we reduce health risks and restore dignity in households. This is a matter of…

Luxury hospitality and travel group Hemingways Hospitality has expanded into Rwanda through the acquisition of Heaven Holdings, which includes The Retreat Hotel, Fusion Restaurant, Heaven Restaurant, Heaven Boutique Hotel, and Heaven Experiences, its tour operating arm. This marks Hemingways Collection’s fifth hotel property and its first outside Kenya. Founded in Kenya in 1988, Hemingways Hospitality has grown into a leading luxury boutique hotel brand and East Africa’s largest corporate travel management company. Rwanda’s Tourism Growth Potential CEO Ross Evans said the expansion into Rwanda represents a significant growth opportunity for tourism in one of the region’s premier luxury destinations. He…