Kenya’s National Treasury has published its Supplementary Budget Estimates totalling Kshs 3,036.5 bn from Kshs 2,915.7 bn for the current financial year 2020-21. The proposed budget increment is attributable to COVID-19 related expenditure and efforts by the government to spur economic activity. Key highlights in the supplementary budget include; The State Department for Early Learning and Basic Education has seen its budgetary allocation reduce by Kshs 1.3 bn to Kshs 99.5 bn from the earlier revised allocation of Kshs 100.8 bn. The 1.3% decline was on account of a 27.9% decrease in the allocation to Quality Assurance and Standards to…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
AFC Leopards have confirmed the signing of Tedian Esilaba from Nairobi City Stars. According to Ingwe, ee will don jersey number 5 as a central defender. “Esilaba previously featured for Nairobi City Stars and helped them win promotion to the Premier League. He has also played for Administration Police FC and Bidco FC. AFC Leopards is a great club and a great platform for my career. I feel it’s the right time for me to join the club at the moment I’m ready and focused on the task ahead. I’m ready to fight for my space in the starting team,” Esilaba enthused.…
The International Criminal Court (ICC) is the world’s only permanent war crimes court
Kenya Airways plans to resume flights to Rome from its hub in Nairobi in June. Julius Thairu, chief customer and commercial officer of the airline, said in a statement issued that Kenya Airways will continue to monitor and increase frequency to destinations as more jurisdictions open their airspace and ease travel restrictions. “We are delighted to resume weekly flights to Rome and will continue to maintain an expanding schedule to various destinations across our network as countries ease travel restrictions. “Our codeshare partnership with Alitalia, offers our customers excellent connections in Rome to rest of Italy, Europe, and USA and…
Equity Banque Commercial du Congo (Equity BCDC) has launched its new identity following the successful merger of Equity Bank Congo (EBC) and Banque Commerciale du Congo (BCDC), to form Equity BCDC. The identity of the new bank reflects the coming together of the oldest and most established bank in DRC and Africa’s fastest-growing, most dynamic bank to shape a future where the people of the DRC will experience the freedom of modern banking. Former Managing Director of Equity Bank Congo, Celestin Muntuabu said, “Today marks a historic event in our country, when two legendary banks, with diverse strengths, have come…
Shares of Safaricom were trading higher on Thursday, surging up to 3.85 per cent on the Nairobi Securities Exchange (NSE) to Ksh 37.80 per share compared to Wednesday’s closing price of Ksh 36.40. As a result, the telco hit a market capitalization Ksh 1.52 Trillion The positive sentiment from investors was as a result of an interim dividend of KSh 0.45 per ordinary share worth KSh 18.029 Billion that would be paid out for the year ended 31st March 2021. The firm closed with a volume of 3,948,700 of the traded shares. ___________________________________________ Total Kenya led the gainers with 8.94%…