Author: Muindi

The Kenyan Cabinet has given the green light to privatise six state-owned corporations, including five hotels and one bank.  Development Bank of Kenya (DBK): The government plans to divest from DBK, which has fully transitioned into a deposit-taking commercial bank regulated by the Central Bank of Kenya. DBK started as a non-banking financial institution in 1963, focusing on promoting and developing commercially viable projects. “The decision by our nation’s apex policy-making organ was informed by the fact the Bank had fully transitioned into a fully-fledged deposit-taking commercial bank regulated by the Central Bank of Kenya (CBK),” read part of a…

Kenya Breweries Limited (KBL) is scaling up the rollout of Diageo One, an online platform that enables retailers to place orders online. This is after piloting it for a year.  Mark Ocitti, the Managing Director of KBL, says Diageo One will revolutionize how liquor manufacturers interact with trade partners, particularly distributors and retailers.  “From what we have seen during the trial stage, Diageo One will revolutionise the way we engage with our trade partners—distributors and retailers—at the point of purchase,” Ocitti stated The COVID-19 pandemic has accelerated the adoption of digital solutions in the consumer goods industry. With increased access…

Kenya has successfully issued a Ksh 234 billion ($1.5 billion) new Eurobond priced at 9.75% with a maturity date set for 2031.  The bond garnered significant demand, with the order book exceeding Ksh 936 billion ($6 billion). The proceeds from the 2031 Eurobonds will be used to fund the offer to buy Kenya’s existing $2 billion Eurobonds due in 2024, pending demand in the Tender Offer.  Results are expected by February 15, 2024, according to the National Treasury and Economic Planning, Kenya achieves successful pricing of $1.5 billion Eurobond,strengthening debt management strategy. For details, see below: pic.twitter.com/K7GKQsehrO — The National…

Without much thought, many parents rely on their savings, holding harambees, borrowing from banks, or saving societies to meet educational needs. As parents, we instinctively want the best for our children and one of the most powerful ways to ensure their future success is by prioritising and saving for their education. Benjamin Franklin, the first US Ambassador to France, once said: “If you fail to plan, you are planning to fail.” True to this adage, Kenyan parents have repeatedly shown the zeal to transform their lives by ensuring their children get the best education available, albeit within their means. According…

The sporting world is in mourning following the tragic passing of world marathon record holder Kelvin Kiptum, who died in a road accident on February 11th. We are shocked and deeply saddened to learn of the devastating loss of Kelvin Kiptum and his coach, Gervais Hakizimana. On behalf of all World Athletics we send our deepest condolences to their families, friends, teammates and the Kenyan nation. It was only earlier this week in… pic.twitter.com/dDBKgjXNKL — Seb Coe (@sebcoe) February 11, 2024 Kiptum, only 24 years old, was a rising star in the distance running scene, having shattered the marathon world…

Kenya Airways (KQ) has introduced weekly direct cargo services between Sharjah, United Arab Emirates (UAE), and Mogadishu, Somalia, aiming to broaden its cargo operations. KQ says it is collaborating with Global GSA Cargo LLC, a Dubai-based sales agent, to facilitate logistics for the route. Dick Murianki, KQ’s cargo director, expressed his delight in extending their logistics service to markets that have been underserved. “The direct route between the UAE and Somalia offers huge demand for air freight transportation, particularly high-tech consumer goods, automotive parts, project cargo, and clothing, which are the most frequently flown goods on the route,” KQ cargo…