Jibran Qureishi, Regional Economist for East Africa at Stanbic Bank has said Kenya’s private sector activity will continue to be strangled if the interest rate capping law remains in place. He was commenting on the latest Markit Stanbic Bank Kenya Purchasing Managers’ Index (PMI) for Kenya whose findings indicate that activity was affected by cashflow problems, partly arising from a backlog of bills from government departments. According to the index, manufacturing and services fell to 52.9 from 54.1 in July. Any reading above 50 indicates growth. “It marked the fourth monthly improvement in a row, but was the softest since…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Safaricom believes in competition based on innovation, investment, focus on brand building and service to the customer. Our attention has been drawn to claims by Telkom Kenya that Safaricom is opposed to its proposed merger with Airtel Kenya. We wish to clarify that this is not Safaricom’s position. Safaricom believes in competition based on innovation, investment, focus on brand building and service to the customer. Industry players are free to engage and organize themselves as they please, subject to regulatory approvals, to achieve their objectives. Indeed, Safaricom worked with the industry regulator Communication Authority of Kenya and Airtel Kenya in…
Nigerian musicians, Damini Ogulu, (Burna Boy) and Tiwa Savage have said they will not perform in South Africa over ongoing Xenophobic attacks in the country. “…Today After watching the Killing of my people in South Africa the same way we have all watched it happen a few times in the past. FUCK ALL THAT! I personally have had my own xenophobic experiences at the hands of South Africans and because of that… https://twitter.com/burnaboy/status/1168952955296473089 “I have not set foot in SA since 2017. And I will NOT EVER go to South Africa again for any reason until the SOUTH AFRICAN government…
Spanish on-demand delivery platform Glovo has launched operations in Kitengela and Nakuru towns as part of its expansion strategy to provide delivery services in various parts of the country. Glovo General Manager for Kenya William Benthall said: “This move is part of Glovo’s strategic expansion in Kenya. Our long term aim is to have a presence in all towns in the country. We are committed to helping our partners to amplify their businesses and increase sales, and providing quality service delivery to all our customers at an affordable price.” At the moment, Glovo already has the widest coverage in Nairobi…
British High Commissioner to Nairobi, Jane Marriott presented her credentials to President Uhuru Kenyatta on Tuesday to replace her predecessor Nic Hailey whose five-year tenure ended in June. “We stand today as two vibrant and modern countries, crucial to the success of our respective regions and with important roles in the Commonwealth and in supporting the rules-based international system,” Ms. Marriott said. She was among 11 envoys who presented credentials to Kenya’s head of state. https://twitter.com/JaneMarriottFCO/status/1168810400911122433 https://twitter.com/StateHouseKenya/status/1168843186153971712 Also reporting for duty was the new European Union Delegation Ambassador to Kenya, Simon Mordue, who replaces Antonio Stefan Dejak. Other…
Paul Russo has been appointed by the KCB Group Plc as the designate managing director for the National Bank of Kenya (NBK). Russo is the current KCB Group Director of Regional Businesses and he will now be tasked with managing NBK for the transitional 2-year period of its integration into KCB, subject to fit and proper approval by the Central Bank of Kenya (CBK). “We are confident that we shall conclude this process shortly following the receipt of the necessary approvals. We have received a good indication from NBK shareholders and we shall announce the official results within the legally stipulated…