Demonetization, high public debt, tough austerity- concerns as MPC meets
The phasing out of the One Thousand Shilling note at the end of this month, escalating of public debts and austerity measures by National Treasury are the key concerns as [...]
Shelter Afrique reports KSh7.8 million profit in second quarter
Shelter Afrique recently released its second-quarter financial results as it announced its turn around plan. Shelter Afrique reported a net profit of Ksh 7.8 million compared to a loss of [...]
How M-Pesa Can Power Demonetization
As the deadline for the exchange of old Ksh 1,000 notes with the new ones nears, consumers are facing some roadblocks along the way of accessibility to commercial banking branches. [...]
Kenya's JKIA Ranked World's 2nd Fastest-Growing Airport in Cargo Handling
Kenya's Jomo Kenyatta International Airport (JKIA) emerged second in the ‘Fastest Growing Airports (Handling over 250,000 metric tons of air cargo)’ category as it handled over 342,000 metric tons of [...]
Kenya Seeks Out-of-court Settlement in Maritime Territory Dispute with Somalia
Kenya is seeking an out-of-court settlement over a maritime territory dispute with Somalia. The case, whose hearing was initially scheduled for September 9th to 11th by the International Court of [...]Jambojet receives rights to fly to Kigali, Rwanda
Regional low-cost carrier Jambojet has received approval from the Rwanda Civil Aviation Authority to start flights to Kigali. Jambojet CEO, Mr. Allan Kivaluka, said that the airline has also received [...]NIC Bank Partners with Isuzu to offer asset finance for SMEs
Isuzu East Africa has signed a partnership with NIC Bankthat will enable Isuzu Customers to get up to 95% financing for the purchase of new vehicles, a 60-day grace period [...]PE Firm Actis seeks Approval from Comesa to take over Abraaj Funds
Private equity firm Actis has written to the Comesa Competition Commission (CCC) to affirm its intentions to take over the assets of collapsed Dubai based PE Fund Abraaj Group. Actis [...]Kenyan lawmakers retain capital gains tax at 5%
The National Assembly has rejected Treasury’s attempt to double the capital gains tax to 12.5 per cent from the current 5%. The finance and planning committee opted to retain the [...]Kenya Airways Suspends Direct Flights to Libreville and Cotonou
Kenya Airways has announced the suspension of direct flights to Libreville and Cotonou effective October 14, 2019, a move aimed at increasing efficiency by cutting costs. Customers plying these two [...]39% of African CEOs confident of revenue growth in the next 12 months – PwC
A PwC report, Africa Business Agenda 2019, shows a dip in the CEOs' confidence in their own organizations’ revenue prospects over the short term (12-month) and medium (three-year) medium term. [...]Kenya's Mobicom retrenches 800 staff
Mobicom, in a letter sent out to staff members, highlighted that the firm’s business in the country had reduced by 90 per cent prompting the mass layoff. Mobicom blames its [...]
