Safaricom Foundation, Kenya’s largest corporate foundation, is investing over Ksh 130 million that will benefit over 3,000 youth from ICT enabled Technical Vocational Education and Training (TVET) centres across the country over the next two years. “The programme will focus on entry-level training for four key areas within the construction industry namely welding, plumbing and electrical engineering. The funds will be used for student’s fees, teacher training, setting up smart classrooms and construction of state of the art workshops” said Stephen Chege, Trustee, Safaricom Foundation. https://twitter.com/SafaricomFDN/status/1093803930793009152 The pilot phase of the programme will be implemented at the Waithaka Technical Training…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Treasury Bills floated Wednesday by the Central Bank of Kenya were oversubscribed by 555.0%, driven by the 2-year bond, which attracted bids worth Ksh 50.2 bn out of the Ksh 66.6 bn bids received for the reopened 2-year (FXD1/2019/2) and 15-year (FXD1/2019/15). The yields came in at 10.3% and 12.8% for the 2-year and 15-year bonds, respectively. The government accepted Ksh 23.4 bn out of the Kshs 66.6 bn worth of bids received against Kshs 12.0 bn on offer. Cytonn Investments said this “Translates to an acceptance rate of 35.2%, indicating that bids were largely not within ranges the CBK…
Kenya’s Director of Public Prosecutions (DPP) has formed a team to review files after DCI recommended charges against 5 local banks and officials who benefitted from KSh8bn in NYS II scandal. “I have constituted a team of senior prosecutors to independently review the respective investigation files and make recommendations within 14 days,” said Noordin Haji, Directo of Public Prosecutions. The banks in question include Standard Charted Bank, Kenya Commercial Bank, Equity Bank, Diamond Trust Bank, and Cooperative Bank with “Regard to suspected violation of legislation that govern banks and provisions of the proceeds of Crime and Anti-money Laundering Act no,9 of…
Court of Appeal Judges on Wednesday overturned a High Court order compelling the Kenya Revenue Authority (KRA) to issue Prof Ojienda a Tax Compliant Certificate (TCC). If granted, the order would have obligated the Law Society of Kenya to process Prof. Ojienda’s nomination to contest for the Judicial Service Commission elections without the certificate. However, KRA in December 2018 appealed the High Court’s ruling to grant Ojienda a tax compliance certificate over a pending KSh 444 million tax bill. Appellate judges Martha Koome, A.K. Murgor and S. ole Kantai in the Wednesday ruling said they are satisfied with the procedure followed by…
Smartphone brand OPPO has opened its second regional hub within the UAE and will make Dubai its new centre for operations in the Middle East and Africa (MEA) region. The new base will be the company’s hub for Middle East regional sales, distribution and marketing. OPPO will also use the base to deepen technology partnerships with other private and public-sector entities. In the MEA region, OPPO has a presence in Kenya, United Arab Emirates, Qatar, Kingdom of Saudi Arabia, Oman, Morocco, Tunisia, Egypt, Algeria and Nigeria. The hub will also oversee OPPO’s continued expansion in the Middle East with OPPO…
What caused public outcry was the orders that stated the school uniform policy doesn’t indirectly discriminate against female Muslim students but allowing the wearing of the hijab is directly discriminatory to female non-Muslim students.