Author: Muindi

Ndovu Wealth Limited has launched its Money Market Fund (MMF), named Ndovu Fund. This new investment option aims to provide Kenyans with a diversified and affordable way to grow their wealth. The Fund, which was approved by the Capital Markets Authority (CMA), has a minimum investment requirement of only KSh 500. It offers a stable, low-risk investment opportunity with competitive returns, making it suitable for both new and experienced investors. Ndovu Fund will invest in a diversified portfolio of short-term securities, including Treasury Bills, Treasury Bonds, and high-quality commercial paper. This strategy aims to generate attractive yields while maintaining liquidity.…

MultiChoice Kenya has announced price adjustments for several DStv subscription packages. The new prices will take effect on November 1, 2024. MultiChoice Kenya has announced that certain DStv subscription prices will increase effective November 1, 2024. The adjustment is part of the company’s ongoing efforts to provide value to its customers while navigating the evolving entertainment landscape. “Across the African continent, DStv continues to offer value to its customers with a variety of packages to choose from to keep the family entertained. DStv continues to look for ways to bring our customers the entertainment they love,” Nzola Miranda MultiChoice Kenya,…

Acorn Holdings, a real estate developer listed on the Nairobi Securities Exchange (NSE), is set to delist from the bourse. The company has opted for early redemption of its KSh5.7 billion green bond, issued in 2019. The bond, held by Acorn Student Accommodation (ASA) Development Reit, has been paying an annual interest rate of 12.5%. The ASA D-REIT develops student accommodation properties and sells them to the ASA I-REIT upon achieving stable occupancy, generating capital gains for D-REIT investors. The 5-year medium-term note, originally scheduled to mature on November 8, 2024, will be redeemed on October 4, 2024. Investors will…

Kakuzi Plc’s shareholders have expressed support for the company’s sustainability-focused diversification and expansion plans, which include investments in Ag-Tech, water stewardship, and new commercial produce. Kakuzi Plc shareholders have supported the company’s diversification and expansion plans. As part of its sustainability strategy, Kakuzi plans to invest Ksh100 million next year in agricultural technology (Ag-Tech), water stewardship, carbon emissions reduction, waste reduction, and the introduction of new commercial produce like blueberries and expanded livestock. Kakuzi Board Chairman Nicholas Ng’ang’a says the company’s growth beyond a traditional farm enterprise and its commitment to deepening investor relations. Managing Director Chris Flowers highlighted the…

Kenyans living and working abroad sent a record-breaking US$427.2 million in remittances to Kenya in August 2024, surpassing previous highs. The increase was driven by higher inflows from America and Australia. Kenyans living and working abroad sent a record-breaking US$427.2 million (KSh55.2 billion) in remittances to Kenya in August 2024. This marks a 3.1% increase from July 2024 and a 20.6% increase from August 2023, driven by higher inflows from America and Australia. Remittances from the United States and Australia drove the surge, offsetting declines from Europe, Asia, and Africa. Since 2015, diaspora remittances have been Kenya’s primary source of…

Safaricom, Kenya’s leading telecommunications provider, has significantly upgraded internet speeds for home and business customers. This move addresses the growing demand for faster data transfer and processing. According to the upgrade, the telco offers a new “Platinum Package” with speeds of up to 1 Gbps (1000 Mbps) for KSh 20,000 per month. This caters to users with high-bandwidth needs like 4K/8K streaming, online gaming, large file transfers, and virtual reality.   OLD SPEEDS NEW SPEEDS  PRICE (KES) BRONZE 10 Mbps 15 Mbps 2,999 SILVER 20 Mbps 30 Mbps 4,100 GOLD 40 Mbps 80 Mbps 6,299 DIAMOND 100 Mbps 500 Mbps…