The United Kingdom Wednesday approved Pfizer-BioNTech’s Covid-19 vaccine for general use ahead of its rollout in the coming week. According to the UK Department of Health, it accepted the recommendation from the Independent Medicines and Healthcare products Regulatory Agency (MHRA). The UK will give priority to care home residents, health and care staff, the elderly, and the clinically extremely vulnerable. “To aid the success of the vaccination programme it is vital everyone continues to play their part and abide by the necessary restrictions in their area so we can further suppress the virus and allow the NHS (National Health Service)…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
In a clear extension of its accommodative stance, the central bank in its last scheduled meeting for 2020, left the central bank rate (CBR) at 7.00%. This has been necessitated by the need to catalyze the fragile economic landscape as businesses and individuals recover from Covid-19 induced shocks. By all indications, the central bank will continue to prioritize the economic recovery while keeping an eye on inflation. Although well within the target, the rise in price pressures over the last two months could delay further stimulus from the monetary authority. In November, headline inflation touched a seven-month high of 5.46%…
The Capital Markets Authority of Kenya has onboarded a consultant to review the Capital Markets (Collective Investment Schemes) Regulations, 2001 to make them more robust and facilitative to market dynamics. With support from FSD Africa, the proposed legal framework review is designed to address stakeholders’ concerns in line with the aspirations of the 10-year Capital Market Master Plan (2014-2023). “The proposed legal framework review is designed to address stakeholders’ concerns with the current framework and facilitate the development of a robust asset management sector,” said CMA chief executive Wyckliffe Shamiah in a statement Tuesday. “A need has (also) emerged for…
Nokia says it has been selected by African mobile operator, Airtel Kenya in a three-year deal to modernize Nairobi with high speed 4G and 5G-ready hardware from its comprehensive AirScale portfolio. In a joint statement, they said the upgraded network will deliver enhanced connectivity to customers of Airtel Kenya and access to new, high-speed data services. According to the deal which will be executed from June, Nokia will supply Airtel Kenya with its AirScale Single RAN (S-RAN) portfolio for both indoor and outdoor coverage, including base stations and radio access products. D. Sarma, CEO, Airtel Kenya, said they are in…
The Kenya Revenue Authority (KRA) held an online session to enlighten Kenyans on the implementation of the Digital Services Tax (DST), leaving participants with more questions than answers. The DST is expected to come to life in January 2021 but has already elicited sharp reactions from the players in the sector who feel the 1.5 percent imposed on online marketplaces and digital platforms will hit-hard on the already struggling sector. Digital Service Tax is payable on income derived or accrued in Kenya from services offered through a digital marketplace. According to Mr. Nixon Omondi from the Kenya Revenue Authority, the…
Nairobi Business Ventures (NBV), a local shoe and leather accessories retail chain operating under the K-Shoe brand, has listed an additional 415 million shares at the Nairobi bourse. This follows the completion of its restructuring process and the subsequent onboarding of Delta International (FZE) strategic investors. Delta International FZE, an infrastructural and industrial conglomerate acquired an 84 percent majority stake at Nairobi Business Ventures (NBV) for KSh83 million. NBV will now focus on manufacturing, importing, and selling raw materials used by cement and steel processors and other companies in the infrastructure sector. “Africa is the future of economic opportunities and…