Author: Khusoko

Low cost carrier, Jambo Jet, a subsidiary of Kenya Airways has received approval to commence flights to Kigali, Rwanda as part of its regional expansion strategy Jambojet chief executive Allan Kivaluka  said apart from the clearance by the Rwanda Civil Aviation Authority, the airline has also received rights fly to Goma in Democratic Republic of Congo, Mogadishu in Somalia and Bujumbura in Burundi. “We have been given the go-ahead by Kenya Civil Aviation Authority to fly to many of these destinations. We are waiting for the rights to Juba in South Sudan, Comoros, Mwanza and Kilimanjaro in Tanzania and Zanzibar,”…

Kenya Airways is suspending direct flights from Jomo Kenyatta International Airport to Libreville, Gabon, and Cotonou, Benin starting next month. According to the airline, travelers who will be traveling to the two destinations, beyond October 14 will be rerouted or rebooked through its partner airlines. “We have made the necessary arrangements to continue serving our customers who had made forward bookings through our existing cooperation with partner airlines to ensure no disruption to their travel,” said Kenya Airways Chief Commercial Officer, Ursula Silling. The decision to suspend flights to Libreville & Cotonou is in line with its strategy to align…

STREAM is the official WPP (un)conference for (un)conventional thinkers and has the world over managed to bring together hundreds of brands in this creativity and technology space. WPP-Scangroup will host the inaugural Kenyan edition of WPP STREAM, an inclusive, inspiring and collaborative event – where the best people come together to build the future.  The inaugural Kenyan edition is scheduled to take place in Nairobi on 27th of September.  This may be the only time in Kenya when over 100 leaders and brand creators from competing brands, will join other leaders from across the East-Africa region; to engage in this…

National Treasury has cut Kenya’s GDP growth forecast for this year to 6.0 percent from previously projected 6.2 percent, according to it’s Draft 2019 Budget Review and Outlook Paper released Thursday. “This reflects the strong growth of 6.3 percent in 2018. The 6.0 percent growth outlook will be supported by the stable macroeconomic environment, investments in the strategic areas under the “Big Four” Plan and regain in business and consumer confidence following political stability in the country.” The economic outlook takes into account the subdued performance in the agriculture and manufacturing sectors following the unfavorable weather conditions experienced in the…

Kenya Power has issued a profit warning of up to 25 percent for the financial year ending June 30, 2019. In a Thursday notice, the utility firm advised shareholders, potential investors, and the general public to expect a lower net earnings of more than 25 per cent compared to those reported last year same period. “The drop in profits is attributable to among others, an increase in non-fuel costs in line with the company’s long term strategy of growing cheaper and cleaner renewable energy,” said Eng. Jared Othieno the acting Managing Director and chief executive. He added that under the…

Treasury’s dual-tranche tenors floated Wednesday raised Ksh 32.6 billion, attracting bids worth Ksh 32bn out of the Ksh 50.0Bn offered for the reopened 2-year (FXD1/2018/15) and 15-year (FXD2/2019/15). The proceeds of the bonds will go towards debt redemption. The yields came in at 12.673% and 12.564% for the 2-year and 15-year bonds, respectively. This was at par with market analysts’ sentiments, “On the back of aggressive investor bidding among yield-hungry investors and duration play on the long end of the yield curve,” according to Commercial Bank of Africa Analysts. According to Genghis Capital, “The performance rate (65.3%) at the auction…