Inflation in Kenya based on the Consumer Price Index (CPI) fell marginally to 6.45 per cent in October from 6.91 per cent in September due driven by higher food prices. “This was mainly driven by an increase in prices of commodities under food and non-alcoholic beverages (10.60 per cent); transport (8.15 per cent); and housing, water, electricity, gas and other fuels (5.80 per cent) between October 2020 and October 2021,” the Kenya National Bureau of Statistics (KNBS) said Friday. The statistics body disclosed that during the month, prices of tomatoes, oranges and sugar increased by 3.53, 3.12 and 2.50 per…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Prudential plc opened its Africa Regional Headquarters in Nairobi, Kenya. The life insurer moved its Africa Regional Headquarters from London to Nairobi. Mr Wilf Blackburn, Prudential’s Regional CEO of Insurance Growth Markets said the new Regional Headquarters in Nairobi underscores the company’s deep commitment to Africa. “Our purpose is to help people get the most out of life. In line with this, we want to make healthcare and financial security more accessible and affordable to the people of Africa as we grow our businesses on the continent. Celebrating the occasion with Prudential was British High Commissioner to Kenya, Her Excellency…
Standard Bank Group, Citi, CDC Group and Norfund have partnered to provide a USD75M equivalent KES-denominated Sustainable Finance Facility for Greenlight Planet Kenya, Africa’s leader in off-grid solar home solutions. The landmark facility is one of the first sustainability-linked deals in Kenya and one of the largest syndicated sustainable finance deals in the region to be provided in local currency. The transaction will allow Greenlight Planet to expand access to off-grid solar solutions to off-grid communities throughout Kenya and support its ambitions to reach an additional 10 million households globally in the next 5 years by enabling households to afford…
Vodacom Group has named Stephen Chege as its new Chief External Affairs Officer. He will be reporting to the Group’s CEO Shameel Joosub effective 15th November 2021. His role covers the Vodacom Group markets including South Africa, Tanzania, DRC, Mozambique, Lesotho and Vodafone Ghana. “Steve will take up the role at Vodacom Headquarters in Johannesburg and will be responsible for Group Regulatory, External and Corporate Affairs, Public Policy, Communication Strategy, Media Relationships, Group Corporate Social Investment (CSI) and Sustainability,” Peter Ndegwa, Safaricom Chief Executive Officer said confirming the appointment. He will also continue supporting Safaricom Telecommunications Ethiopia PLC and Safaricom PLC.…
TECNO, on Monday, unveiled its new smartphone series– the CAMON 18 Premier, CAMON18P and CAMON18 in Kenya. The CAMON 18 Premier is the first TECNO product to take Ultra-steady Gimbal Camera technology innovations to create a brand-new experience for users. Tecno Kenya brand manager Shiva Zhong, said that the company was committed to its long-term commitment to Africa and other emerging markets across the globe. “Tecno and the Camon series, in particular, has been about introducing cutting-edge and stylish smartphones to the global emerging market. By using the African market as a launchpad, we have been able to achieve a…
HeidelbergCement, a German multinational building materials company has signed an agreement to acquire 68 per cent of the shares in the Tanzanian cement producer Tanga Cement. In a statement, the company says through the transaction, it will secure an important limestone quarry with measured resources for at least 30 years on top of its already existing reserves. The quarry and the associated cement plant with a capacity of 1.3 million tonnes of Tanga Cement are located in the Northern part of Tanzania. This will strengthen its local business and create significant synergies with its existing assets in Tanzania through its…