Kenya’s current account deficit (CAD) in November widened to 5.2 per cent of gross domestic product (GDP), against 4.7 per cent in the same period 2020, owing to a higher import bill. “The wider deficit was due to a higher import bill, particularly oil, which more than offset increased receipts from agricultural and services exports, and remittances,” Central Bank said in its weekly bulletin. A current account deficit occurs when a country spends more money on imports than it receives from its exports. The CAD expanded by 27.4 per cent in Q3’2021 to Ksh 184.6 billion from Ksh 145.0 billion…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Justice (Rtd.) Violet Mavisi has been appointed as Independent Lead of the Company’s Operational Level Grievance Mechanism (OGM) of Kakuzi Plc. Ms Mavisi, a former presiding Judge of the Interim Independent Constitutional Dispute Resolution Court (ICDRC) will be expected to provide impetus to the firm’s ongoing efforts to maintain human rights management standards. The Operational Grievance Mechanism (OGM) provides a systematic and transparent process for receiving, investigating, and addressing company-related grievances from affected communities, workers, farmers who supply avocados through Kakuzi’s economic empowerment program, and other relevant stakeholders. Kakuzi Plc Managing Director Chris Flowers said the firm had used its…
GOtv is delighting its customers with the announcement of a price reduction on the Gotv Lite package. This means that customers can continue to enjoy great Kenyan entertainment for less. Speaking about the price reduction, Nancy Matimu MultiChoice Kenya Managing Director said: “Our priority is to put our customers at the heart of our business. As such, we have taken the decision to ensure that we continually make our entertainment more affordable and accessible to democratize access to quality entertainment available on the GOtv platforms. GOtv Lite is our most affordable package and this move will grant more Kenyans and…
American media-services provider Netflix Inc has announced a $1 million Netflix Creative Equity Scholarship Fund (CESF) for film and TV students in Sub-Saharan Africa. The fund is part of Netflix’s global Netflix Creative Equity Fund launched in 2021 to be allocated to various initiatives over the next 5 years. The fund is scheduled to roll out across the region in the academic year commencing in 2022, starting with an open call for applications in the Southern African Development Community (SADC) region. Fund administration partners for East Africa and the West and Central Africa regions will be announced in due course. …
HF Group PLC has appointed Dr Anthony Omerikwa Opare as a non-executive director with effect from 18th January 2022. Dr Omerikwa is currently the Chief Executive Officer of the National Social Security Fund. Dr Anthony holds a Doctoral Degree as a Specialist Advance in labour, workforce development and education from the University of Georgia. He also holds a master’s of Science in Human Resource from Pittsburgh State University, a bachelor’s degree in economics from Kenyatta University as well as a diploma in Data processing and management from Strathmore college. Dr Omerikwa is an associate member of the Institute of Human…
Uber Eats Kenya has named Wangui Mbugua as General Manager for its Kenya business. Her appointment is set to drive the business on an even higher growth trajectory. “I’m excited to take on this new role as I have seen the rapid growth of food delivery in Kenya and the growth that the business brings to the digital economy. The impact of convenience and on-demand commerce on the market is evident. “Not only is Uber Eats creating unique work opportunities, but our operations have a positive knock-on effect for restaurants, merchants and delivery people,” Wangui said. Wangui joined Uber in…