The media house attributes the decline to a challenging business environment occasioned by drastic rise in fuel prices, depreciation of the Kenya Shilling, rising interest rates and higher taxes.
Tesla Reports Record 308,600 Deliveries for 2021 Q4
Tesla reported that it delivered 308,600 vehicles for the last quarter of 2021, beating last quarter deliveries of 241,300 vehicles. The record vehicle deliveries for Q4 pushed its total vehicle [...]
December Inflation Dips to 5.7%, Driven by Lower Food and Fuel Prices
Kenya recorded an inflation rate of 5.7% for the month of December, following lower food and fuel prices. This is a drop November's 5.8%, largely tamed by government effort to [...]
Tesla Recalls Over 475000 Cars Over Potential Technical Defects
Tesla is recalling 475,318 Model 3 and Model S Units released between 2012 and 2020 to address potential technical defects. The carmaker initiated two voluntary recalls, one for rear-view camera [...]
Chinese Ride-hailing App Didi Reports $4.7B Net Loss for Q3 2021
Didi announced a $4.7 billion loss for Q3 2021. Revenues for the quarter ended September 30 fell to $6.7 billion, down from $7.5 billion in the previous quarter. The company [...]
Banks to Push for Reinstatement of Transaction Charges for Mobile Money to Bank Transfers
Banks, through the Kenya Bankers Association (KBA), plan to push for a return of transaction charges between mobile and banking wallets following a dip in fees and commissions from the [...]
US to Temporarily Lift Travel Ban to 8 African Countries on December 31
US President Joe Biden issued a proclamation that will lift an earlier travel ban to 8 African countries, citing that travel restrictions are no longer necessary to protect the public [...]
CMA Admits Investment Advisor Waanzilishi Capital Limited to its Regulatory Sandbox
The Capital Markets Authority (CMA) today announced the admission of Waanzilishi Capital Limited to the Regulatory Sandbox. The addition of the license investment advisor behind robo-advisory platform Ndovu brings the [...]
Kenyan Running Shoe Company Enda Raises $1.1m for Expansion
Kenyan running shoe company Enda has raised $1.1 million in a recent Series A funding round led by US impact investor Talanton with participation from several Kenyan angel impact investors. [...]
State to Take Over KSh 93.5B of KQ's Debt, Ditches Nationalisation Plans
The Kenyan government has dropped plans to nationalise Kenya Airways (KQ) in favor of mechanisms to protect its financial interests in the flagship carrier, which include a debt take over [...]
Callers to Enjoy Cheaper Inter-network Calls as CA Trims Termination Rates From January 2022
Callers in Kenya will enjoy cheaper inter-network call rates from January 1 2022 after the Communications Authority of Kenya (CA) capped the costs which operators charge to connect and terminate [...]
SemaBOX to Host PODEXNBO 2021 to Bring Together Creatives in Kenya's Podcasting Space
Kenya's Podcast studio and incubator SemaBOX will be hosting PODEXNBO, bringing together creatives in Kenya's podcasting space to network and learn from each other. The event will take place on [...]
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