Author: Khusoko

Glovo, a Spanish delivery firm has raised Ksh 17 billion to execute its growth strategy from its fourth round of fundraising. “We will use this opportunity to grow our team of tech experts to create a smarter and more efficient experience for customers, “said Priscilla Muhiu, Glovo’s Head of Marketing for Sub-Saharan Africa. “We also intend to expand our footprint across sub-Saharan Africa, with new operations in Tanzania, Ghana and Nigeria.” The fundraising was led by European Venture capital firm Lakestar, Drake, Idnvest Partners and VC firm Korelya Capital. Glovo launched its Kenya operations in January after carrying out a…

Kenya Airways has announced the resumption of flights to the coastal town of Malindi with four weekly flights starting 10th June 2019. The flight, to be operated by Jambojet using a Bombardier Q400 will increase the frequency of flights by four, in addition to the nine weekly flights to this destination. The airline’s re-entry to this route is a great boost to the town, well-known for its strong Italian connections when the airline launches the Rome-Geneva flights on 12th June 2019. This is expected to create seamless connections and boost between Italy and Malindi, two areas that already share historic…

Real estate company HassConsult has launched Ksh 5 billion mixed-use up-market development on Riverside Drive targeting bohemian ‘urbanites’. Dubbed the Riverside Square, the project is expected to be completed in 2 years time. “The project will be implemented in phases with the Upper East and Lower East quadrants of the residential development set to commence in Q2, 2019. The first phase is anticipated to take 20-24 months to complete.” HassConsult Research and Development Consulting head Sakinah Hassanali said, “As development managers, we have led the way in financial models and market positioning in Kenya for over two decades. During that…

Diaspora remittances increased by 11.4% to USD 221 million in March from USD 199 million in February according to Central Bank Data. Data by the Central Bank of Kenya (CBK) shows that the 12-month cumulative inflows increased to KSh274.84 billion in March this year from KSh217.7 billion in March last year, reflecting a 26% growth. “North America remained the main source region for the remittances, accounting for 53 percent of the total remittances in March,” said the CBK. Cytonn Investments attributes the increase to the increased uptake of financial products by the diaspora due to financial services firms, particularly banks,…

Mose Fan Fan (Mose Se Sengo), a highly influential guitarist, composer, and bandleader from the Democratic Republic of Congo, died on May 3, 2019, at 75. According to his producer, Tabu Osusa, he passed away upon arrival at a Kasarani hospital in Nairobi, Kenya. Born on October 16, 1945, in Kinshasa, then Léopoldville, Belgian Congo (later Zaire, now DRC), Mose Se Sengo began his musical journey during his time at a boarding school in Kinanga. Upon his return to Kinshasa, he played as a featured guitarist in Rickem Jazz and then Revolution, performing primarily in low-key evening settings. His talent…

The Kenya Bankers Association and players in the payment service industry on Friday launched the 2019 edition of the bi-annual card, mobile and online safety awareness campaign to empower customers to protect themselves from fraud-related risks. The campaign dubbed “Kaa Chonjo!” will seek to empower consumers with information on secure ways of using payment platforms and transaction channels. Themed ‘Promoting Financial Technology Innovation and Security’, the public sensitization exercise has been organised by Kenya Bankers Association in collaboration with Visa, RetailTrade Association of Kenya (RETRAK), Mastercard, mobile operator Airtel, PesaLink,Consumer Grassroots Association (CGA), with support from KBA’s member banks’ networks…