Airtel Africa, a Bharti Airtel subsidiary, reported a profit of $115 million for the quarter ending in September, marking a 13.53% decrease from the $133 million profit in the same quarter in 2022. The company’s revenue for the quarter was $1.2 billion, a 4.61% decline from $1.3 billion in the previous year’s corresponding quarter. The company’s EBITDA fell by 9% to $620 million from $682 million, but the EBITDA margin improved by 80 basis points to 49.8% during the quarter. Despite foreign exchange challenges in many markets, particularly Nigeria, Group CEO Olusegun Ogunsanya expressed satisfaction with the company’s strong operational…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Alphonce Kigen and Everlyne Chirchir emerged as the champions of the 20th edition of the Standard Chartered Nairobi Marathon, which took place in the capital and attracted over 22,000 participants. Kigen led the men’s race with a time of 2:10:18, followed closely by Moses Mwangi and Patrick Kipchirchir. In the women’s event, Chirchir clocked an impressive 2:24:31, with Martha Simiyu and Aurelia Cherotich securing the second and third places, respectively. The half marathon saw Justus Kiprop and Jackline Chelal take top honours in the men’s and women’s races, respectively. Stanley Njihia and Loice Chemung claimed victory in the men’s and…
Wanjiru Mbugua Karani, the Secretary General of Tennis Kenya, has been elected as the first female president of Eastern Africa. This achievement also marks her as the second African woman to hold the position of Vice President in the Confederation of African Tennis. “I am extremely excited to be the first woman president of this zone and the second one in Africa, which means a lot. My passion for the game means I am the right person for this job, and I promise to do my best. I always try to give more than 100%, and I promise to continue…
Kenya will abolish the visa requirement for all Africans travelling to the country, a step towards fostering economic inclusion on the continent. “As Kenya, by the end of this year, no African will be required to have a visa to come to Kenya,” said President William Ruto at the Summit of the Three Basins on Biodiversity Ecosystems and Tropical Forests in Brazzaville, the Republic of Congo. “We have visa regulations left, right, and centre. Twenty-seven countries in Europe today, with 430 million people, have removed visas. We still have visas. Let me persuade us that it is time we on…
The Kenya Electricity Generating Company PLC (KenGen) reported a 48% increase in profit after tax for the year ending June 30, 2023, rising to Ksh 5.02 billion from Ksh 3.4 billion the previous year. Revenues also grew by 14%, from Ksh 47.48 billion in 2022 to Ksh 53.96 billion, attributed to the company’s investments in geothermal energy. KenGen’s Managing Director and CEO, Peter Njenga, attributed this performance to the improved operational efficiency of the company’s geothermal fleet in Olkaria, Naivasha. This was further boosted by the positive impact of the newly commissioned Olkaria I Additional Unit 6 geothermal power plant,…
Kenya Power reported a net loss of Ksh 3.2 billion for the fiscal year ending June 30, 2023. However, its operating profit improved from 17.1 billion to 19.2 billion. “The positive performance above was eroded by exceptionally high finance costs, which increased significantly by 89% from KShs 12.76 billion to KShs 24.15 billion, mainly driven by the depreciation of the Kenya shilling against major international currencies,” KPLC says in its audited financial statement. “In the period, the Kenya Shilling depreciated by 19% from KShs. 118 per USD in June 2022 to KShs. 140 per USD in June 2023,” the utility…