Google has announced a commitment of Kshs 300 million in grants to support education, entrepreneurship, and women empowerment in Africa. According to Google, the grant is part of its support to help businesses, job seekers, and educational institutions recover and rebuild from the impact of the COVID-19 pandemic. As part of this commitment, Google will roll out multiple initiatives: Kshs 125 million grant to be given directly to reach 500 Kenyan women who lost their income due to COVID-19. Through its digital hub, it will help 500,000 small businesses get online through Google My Business. This will put those businesses…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Fuel prices in Kenya declined marginally in September, according to the Energy and Petroleum Regulatory Authority (EPRA). On Monday, EPRA announced KSh0.12 drop on a litre of diesel and KSh0.50 on a litre of kerosene. However, the prices of a litre of super petrol went up by KSh1.48. EPRA attributed the price difference to the cost of imported diesel which decreased by 1.02 per cent from $333.27 per cubic metre to $329.88 per cubic metre. In comparison, that of kerosene decreased by 2.06 per cent from $288.01 per cubic metre to $282.09 per cubic metre. For petrol, the increase resulted…
Kenya Revenue Authority (KRA) is pushing to raise taxes and levies to generate more revenue from a battered economy impacted by the Covid-19 pandemic. The taxman intends to increase levies on fuel, bottled water, juice and beer on garments, footwear and fertilizers effective October. Millions of Kenyans have already lost their jobs as companies cut down on the workforce to secure cash and to enable them sail through the pandemic. According to the Ministry of Labor and Social Protection data, shared with the Federation of Kenya Employers (FKE), 604 companies countrywide have declared their employees redundant following the negative effects…
PULA has appointed Cedric Todwell, a Kenyan, as a new commercial manager for government, financials, and energy in Africa. He brings on board a vast experience in building partnerships in the renewable energy sector. PULA is a leading Agricultural technology that develops and deploys crops and livestock insurance. The organization uses insurance and digital products to help smallholder farmers endure climate risks, improve their farming practices and bolster their income. It has helped 3.4 million farmers in 11 countries, both in Africa and Asia. PULA has achieved this through partnerships with governments, seed/fertilizer companies, loan providers to bundle insurance with…
Boeing has abandoned a deal to buy 80 per cent of Embraer’s commercial aircraft business for $4.2 billion. According to Wang’ombe Kariuki, Director-general, Competition Authority of Kenya, the proposed transaction “…failed to take place following the decision of the parties to withdraw from the transaction.”
Family bank has partnered with Performeter Agribusiness, a dairy farming investment advisory firm to provide agricultural credit of KSh1 billion loans to finance fodder production. The credit facility targets over 100,000 farmers in dairy cooperatives with the intention of land preparation, planting, weed control, harvesting, ensiling and baling. “This is why Family Bank in partnership with Performeter, an experienced player in the dairy sector, has set aside Ksh1 billion as financing to enable farmers to access working capital and other financial services to support the dairy value chain and unlock its growth potential to the entrepreneurial dairy farmers,” said Family…