Local carrier Safarilink Aviation Limited will discontinue flights between Nairobi and Kitale, citing an unfavourable business environment. The route’s success was hampered by two main factors: high fuel costs and inadequate airport facilities, which resulted in flight cancellations. This decision comes after Safarilink resumed service on the route in April 2022 [following a two-year hiatus due to airport renovations]. The National Treasury had allocated Sh727 million in the 2023-24 budget for the expansion and refurbishment of several airstrips across the country. This investment aimed at improving air transport infrastructure in these regions. The budget breakdown highlights specific allocations: Migori Airstrip:…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Tesla and SpaceX CEO Elon Musk is critical of Apple’s decision to integrate OpenAI technology, threatening to ban Apple devices at his companies. Musk claims integrating OpenAI at the operating system level presents an “unacceptable security violation.” And visitors will have to check their Apple devices at the door, where they will be stored in a Faraday cage — Elon Musk (@elonmusk) June 10, 2024 He proposes banning Apple devices and storing them in Faraday cages (metal enclosures blocking electromagnetic signals) for visitors. He further questions Apple’s ability to ensure user security and privacy while using OpenAI technology. “It’s patently…
Kenyan insurance company Directline Assurance has ceased operations, citing financial mismanagement by previous leadership and a disagreement with the Insurance Regulatory Authority (IRA). Directline terminated all employee contracts and dissolved its board. Royal Credit Limited, chaired by S.K. Macharia, took over Directline’s assets. Macharia blames the closure on over Sh7 billion misappropriated by former Directline directors and accuses the IRA of failing to act. “The board of directors of Directline has been dissolved and all the assets taken over by Royal Credit Ltd. All employees have been dismissed, and Directline will no longer issue insurance services,” Macharia said. We found…
Apple’s 2024 Worldwide Developers Conference (WWDC24) has revealed that it is ready to embed artificial intelligence in its products. CEO Tim Cook says Apple’s push into AI while keeping privacy and personalization in mind, moving “beyond artificial intelligence” into “personal intelligence.” “This is the beginning of an exciting new chapter of personal intelligence built for your most personal products: your iPhone, iPad, and Mac. Intelligence is grounded in the things that make you unique and is available to you system-wide, so you can get things done in the way that works for you,” said Tim Cook. Microsoft and Google have…
Kenyan B2C e-commerce platform Copia has stopped its delivery service in six towns after entering administration in May 2024. Financial Challenges Copia has faced significant cash flow problems, leading to administration and a halt to new orders from Central and Eastern Kenya. Despite receiving $123 million in funding, Copia has been unable to achieve profitability. Similarly, the company’s attempt to expand into Uganda ended in closure after a year, hindering its pan-African ambitions. Restructuring Measures Copia appointed administrators Makenzi Muthusi and Julius Ngonga (KPMG) to manage operations, explore turnaround strategies, and secure new investments for the Kenyan business. To preserve cash, Copia has suspended deliveries in…
The Policyholders Compensation Fund (PCF) has begun compensating clients of Xplico Insurance, which is currently under statutory management. The maximum compensation amount has been capped at Kshs 250,000 per claim, and the process is expected to last for two years, starting June 4, 2024. Xplico’s Challenges The Insurance Regulatory Authority (IRA) placed Xplico Insurance under statutory management in December 2023. The company has been facing declining market share in the public service vehicle (PSV) insurance sector due to competition. In March 2022, a creditor filed a liquidation petition against Xplico, leading to a ban on issuing new insurance contracts from…