The Kenya Shilling gained against the dollar for the first time week ending September 20 to close Ksh 103.9. “It exchanged at KSh 103.91 per US Dollar on September 19, compared to KSh 103.78 on September 12,” according to the Central Bank of Kenya weekly bulletin. This was supported by inflows from diaspora remittances amidst thin dollar demand from merchandise importers. Early in the week, the Kenya Shilling was termed as the most stable currency in Africa despite recent volatilities by Charles Robertson, Renaissance Capital’s global chief economist. “I agree with Central Bank of Kenya that the shilling’s stability is…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Kenya, Rwanda and Ethiopia have been ranked among the top 10 countries where to invest in Africa the year 2020 by Rand Merchant Bank. https://twitter.com/RMBCIB/status/1174236932299251716?s=19 The bank in its ninth edition, ranks Kenya 4th attributing its positive growth prospects to a diversified economy, expanding consumer market, urbanisation, the East African Community (EAC) integration, structural reforms and investment in infrastructure. Rwanda is ranked 5th and its growth drivers cited to be ease of doing business environment. Second in Africa. The co-authors Celeste Fauconnier, Neville Mandimika and Nema Ramkhelawan-Bhana say key drivers for the ten economies are retail, banking and finance, and…
AirKenya Express travellers will enjoy daily direct flights connecting Kisumu City and Entebbe, Uganda. Achie Ojany, Minister of Tourism Arts, Culture & Sports for Kisumu County on Friday said this is aimed at maximising the tourism benefits in the new route network. https://twitter.com/AchieOjany/status/1174927653125554177 Airkenya has subsidiary airlines in Uganda, AeroLink Uganda and Regional Air Tanzania, who both fly the tourist circuit in Uganda and Tanzania respectively. In June it began it’s Maasai Mara – Entebbe service via Kisumu, offering its customers the best of what Uganda has to offer on their tourist circuit. “Airkenya’s subsidiary in Uganda, AeroLink Uganda will…
Paul Russo has been confirmed the new Managing Director of National Bank of Kenya by KCB Group ending Wilfred Musau’s tenure. Musau who has been the Managing Director of the National Bank of Kenya has been redeployed to a new role at KCB to support the integration of the two lenders. Musau joined National Bank as the Director Retail and Premium Banking. He was later appointed as the acting MD & CEO of National Bank between September 2015 and October 2016. “I have full confidence that Mr. Russo will steer NBK in the right direction and succeed in the integration…
Kenya’s Jomo Kenyatta International Airport (JKIA) emerged second in the ‘Fastest Growing Airports in handling cargo. The Airport Council International (ACI) World Air Traffic Report indicates JKIA (Handling over 250,000 metric tons of air cargo)’ category as it handled over 342,000 metric tons of air cargo in 2018 indicating a 25% increase from 2017. Kenya Airports Authority (KAA) credits the growth to increase in cargo traffic to and from Europe, Asia, America, China, and Australia. “This award validates our ongoing efforts in improving facilities at the JKIA Cargo area.” KAA MD, Jonny Andersen noted. “This is an exciting time for…
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,”…