HF Group Plc released its financial results for the third quarter of 2024, posting a 105% year-on-year growth in profit after tax to KES 483 million. The profit surge comes as the Group embarks on a KES 6 billion rights issue aimed at fortifying its capital base and expanding its product portfolio. https://kenyanwallstreet.com/hf-group-q3-profit-surges-by-105-amidst-rights-issue/
The Kenyan Wallstreet
@kenyanwallstreet
Stay Up to Date with the Latest Business News and Market Updates From Kenya and across the Region. www.kenyanwallstreet.com
The Kenyan Wallstreet (English)
Are you interested in staying up to date with the latest business news and market updates from Kenya and across the region? Look no further than 'The Kenyan Wallstreet' Telegram channel. With the username @kenyanwallstreet, this channel is your go-to source for all things related to the Kenyan business world. Whether you're a seasoned investor or just starting out in the business world, this channel has something for everyone. From breaking news to in-depth analysis, you can count on 'The Kenyan Wallstreet' to keep you informed and ahead of the curve. Who is 'The Kenyan Wallstreet'? This channel is run by a team of experienced professionals who have a deep understanding of the Kenyan business landscape. They are dedicated to providing their followers with accurate and reliable information that can help them make informed decisions in the world of finance and investment. What is 'The Kenyan Wallstreet'? It is a one-stop shop for all your business news needs. You can expect to find articles, reports, and updates on a wide range of topics, including stock market trends, economic indicators, and business developments in Kenya and beyond. Whether you're interested in learning about new investment opportunities or understanding the impact of global events on the local economy, 'The Kenyan Wallstreet' has you covered. So, why wait? Join 'The Kenyan Wallstreet' Telegram channel today and start receiving the latest business news and market updates right at your fingertips. Stay informed, stay ahead, with 'The Kenyan Wallstreet'. Visit their website at www.kenyanwallstreet.com for even more in-depth analysis and exclusive content.
The Kenyan Wallstreet
28 Nov, 16:12
The Future of Fintech in Africa Webinar!
Join us on December 5th @5pm EAT for an insightful webinar hosted by The Kenyan Wall Street featuring Kora, where industry leaders will explore the transformative potential of fintech across the continent. From innovative payment solutions to financial inclusion strategies, this is your chance to learn about the trends shaping Africa’s fintech ecosystem.
The webinar will be streamed live on our Youtube channel, X and LinkedIn page.
💡 Don't miss out on these forward-thinking discussions!
📅 Save the date!
https://www.youtube.com/@kenyanwallstreet/featured
https://x.com/kenyanwalstreet
https://ke.linkedin.com/company/kenyanwallstreet
Join us on December 5th @5pm EAT for an insightful webinar hosted by The Kenyan Wall Street featuring Kora, where industry leaders will explore the transformative potential of fintech across the continent. From innovative payment solutions to financial inclusion strategies, this is your chance to learn about the trends shaping Africa’s fintech ecosystem.
The webinar will be streamed live on our Youtube channel, X and LinkedIn page.
💡 Don't miss out on these forward-thinking discussions!
📅 Save the date!
https://www.youtube.com/@kenyanwallstreet/featured
https://x.com/kenyanwalstreet
https://ke.linkedin.com/company/kenyanwallstreet
The Kenyan Wallstreet
28 Nov, 09:26
The decision by online merchants to extend the sales period for discounted items from ‘Black Friday’ to ‘Black Friday week’ – inclusive of Cyber Monday – led to the surge in sales by 83% compared to the 2023 daily average across Kenya, Nigeria and South Africa.
According to the online payment service, PayU GPO, the average basket size also increased by 11% year-on-year (Y-o-Y).
The discount period also saw the average transaction value surge by 13% compared to the period between 20-23rd November.
Read More: https://kenyanwallstreet.com/e-commerce-sales-up-83-as-consumers-take-advantage-of-black-friday/
According to the online payment service, PayU GPO, the average basket size also increased by 11% year-on-year (Y-o-Y).
The discount period also saw the average transaction value surge by 13% compared to the period between 20-23rd November.
Read More: https://kenyanwallstreet.com/e-commerce-sales-up-83-as-consumers-take-advantage-of-black-friday/
The Kenyan Wallstreet
28 Nov, 07:58
Mawingu Networks, a Kenyan Internet Service Provider (ISP) has acquired Habari, an Arusha-based ISP, for KSh 1.9bn.
A big chunk of the funding for the acquisition came from Africa Go Green Fund, managed by Cygnum Capital, who provided Ksh. 1.4 billion in long-term senior debt.
Mawingu targets to positively impact 1,000,000 East Africans by 2028 by riding on the ‘buy-and-build’ strategy.
Read More: https://kenyanwallstreet.com/kenyas-mawingu-acquires-arusha-based-internet-service-provider-habari-for-ksh-1-9bn/
A big chunk of the funding for the acquisition came from Africa Go Green Fund, managed by Cygnum Capital, who provided Ksh. 1.4 billion in long-term senior debt.
Mawingu targets to positively impact 1,000,000 East Africans by 2028 by riding on the ‘buy-and-build’ strategy.
Read More: https://kenyanwallstreet.com/kenyas-mawingu-acquires-arusha-based-internet-service-provider-habari-for-ksh-1-9bn/
The Kenyan Wallstreet
28 Nov, 07:04
UPDATE: KeNIC has partnered with Indian multinational tech company Zoho to drive the uptake of second level domain name .ke in Kenya.
Zoho will work with KeNIC to offer Zoho wallet credits worth KES 50,000 to anyone who has a .ke domain or is purchasing one either directly from KeNIC or through its registrars.
Read More: https://kenyanwallstreet.com/kenic-partners-with-zoho-to-increase-uptake-of-ke-domain/
Zoho will work with KeNIC to offer Zoho wallet credits worth KES 50,000 to anyone who has a .ke domain or is purchasing one either directly from KeNIC or through its registrars.
Read More: https://kenyanwallstreet.com/kenic-partners-with-zoho-to-increase-uptake-of-ke-domain/
The Kenyan Wallstreet
27 Nov, 13:26
Live now! Click on any of the links to Join the conversation. Feel free to drop any questions in the chat
https://www.youtube.com/watch?v=oFRw6EwhYyE
https://x.com/i/broadcasts/1rmxPoQRMOVJN
https://www.linkedin.com/feed/update/urn:li:activity:7265673527519760385
https://www.youtube.com/watch?v=oFRw6EwhYyE
https://x.com/i/broadcasts/1rmxPoQRMOVJN
https://www.linkedin.com/feed/update/urn:li:activity:7265673527519760385
The Kenyan Wallstreet
27 Nov, 12:42
Makini School’s owner ADvTECH Group has concluded a $7.5 million agreement to acquire 100% interest in Ethiopia’s Flipper International School.
Flipper International School (FIS) School operates five campuses located in Beklobet, in central Addis Ababa, and Summit, in the eastern part of the city.
It was founded in 1998 by Menna Selamu Bekele and Serkaddis Seifu Yeteshawork.
The acquisition will add to ADvTECH’s international portfolio five more schools and approximately 3000 students.
Read More: https://kenyanwallstreet.com/makini-group-of-schools-owner-advtech-acquires-ethiopian-school-for-7-5mn/
Flipper International School (FIS) School operates five campuses located in Beklobet, in central Addis Ababa, and Summit, in the eastern part of the city.
It was founded in 1998 by Menna Selamu Bekele and Serkaddis Seifu Yeteshawork.
The acquisition will add to ADvTECH’s international portfolio five more schools and approximately 3000 students.
Read More: https://kenyanwallstreet.com/makini-group-of-schools-owner-advtech-acquires-ethiopian-school-for-7-5mn/
The Kenyan Wallstreet
27 Nov, 11:45
Sustainability Starts With You! 🌿
The full interview with Rose Lumumba, Corporate Governance Specialist at IFC, is out now! Recorded during the Banking Industry Sustainable Finance Summit & Catalyst Awards.
Tune in to discover how small steps can create lasting impact. Watch the full video on YouTube now! https://youtu.be/U77owy_dxak?si=c5a3bYVUgXZBez6d
The full interview with Rose Lumumba, Corporate Governance Specialist at IFC, is out now! Recorded during the Banking Industry Sustainable Finance Summit & Catalyst Awards.
Tune in to discover how small steps can create lasting impact. Watch the full video on YouTube now! https://youtu.be/U77owy_dxak?si=c5a3bYVUgXZBez6d
The Kenyan Wallstreet
27 Nov, 10:51
Zimbabwe’s monthly consumer inflation eased significantly to 11.7% in November, from 37.2% in October – the first decrease in 4 months.
The easing coincides with the gold backed currency – the Zimbabwean ZiG – gaining more than 10% against the US dollar in November, mirroring short term stability.
In the late days of September, the Reserve bank of Zimbabwe devalued the ZiG by 43%, from 13.56 to 24.4 against the dollar in a bid to stabilize the volatile economy.
Read More: https://kenyanwallstreet.com/zimbabwes-inflation-slows-amid-interest-rate-hike-currency-devaluation/
The easing coincides with the gold backed currency – the Zimbabwean ZiG – gaining more than 10% against the US dollar in November, mirroring short term stability.
In the late days of September, the Reserve bank of Zimbabwe devalued the ZiG by 43%, from 13.56 to 24.4 against the dollar in a bid to stabilize the volatile economy.
Read More: https://kenyanwallstreet.com/zimbabwes-inflation-slows-amid-interest-rate-hike-currency-devaluation/
The Kenyan Wallstreet
27 Nov, 10:16
Ride-hailing app, Uber Kenya, enabled gig riders to earn an estimated additional KSh 2.2 billion a year – in higher income – 37% more than their next best alternative, according to the first Economic Impact Report launched by Uber at the Fairmont Norfolk Hotel in Nairobi on Tuesday.
- The report also states that Uber boosted Kenya’s nighttime economy by KSh 167 million and ramped up the value of the country’s tourism sector by KSh 2.7 billion last year.
- Restaurants and eateries also benefited from additional value of KSh 534 million from Uber Eats in 2023.
Read More: https://kenyanwallstreet.com/uber-kenya-contributed-ksh-14bn-to-the-economy-impact-report/
- The report also states that Uber boosted Kenya’s nighttime economy by KSh 167 million and ramped up the value of the country’s tourism sector by KSh 2.7 billion last year.
- Restaurants and eateries also benefited from additional value of KSh 534 million from Uber Eats in 2023.
Read More: https://kenyanwallstreet.com/uber-kenya-contributed-ksh-14bn-to-the-economy-impact-report/
The Kenyan Wallstreet
27 Nov, 09:30
Happening Today at 4:00 PM! Streaming Live on Linkedin, Youtube and X.
Led by Mwajuma Salim, Head of Digital Commerce at Kenya Airways and hosted by Andrew Barden CEO of The Kenyan Wall Street this session will explore the innovative platforms and tools shaping the airline’s digital journey.
Don’t miss this opportunity to gain valuable insights from industry leaders driving transformative change.
Register Here: https://streamyard.com/watch/NEazwmmbYGGX
Led by Mwajuma Salim, Head of Digital Commerce at Kenya Airways and hosted by Andrew Barden CEO of The Kenyan Wall Street this session will explore the innovative platforms and tools shaping the airline’s digital journey.
Don’t miss this opportunity to gain valuable insights from industry leaders driving transformative change.
Register Here: https://streamyard.com/watch/NEazwmmbYGGX
The Kenyan Wallstreet
27 Nov, 08:19
Airtel Money has entered into a partnership with Naivas Supermarket, which would enable its customers to deposit and withdraw cash in all the 109 branches of the retailer.
“This partnership underscores Airtel Money’s commitment to expanding our reach and ensuring that our services are easily accessible,” said Anne Kinuthia Otieno, Airtel Money MD.
The deal is a preliminary strategy for the second-largest Telco in Kenya to popularise its mobile money service by tapping on prime and convenient locations.
Read More: https://kenyanwallstreet.com/airtel-money-partners-with-naivas-to-expand-network/
“This partnership underscores Airtel Money’s commitment to expanding our reach and ensuring that our services are easily accessible,” said Anne Kinuthia Otieno, Airtel Money MD.
The deal is a preliminary strategy for the second-largest Telco in Kenya to popularise its mobile money service by tapping on prime and convenient locations.
Read More: https://kenyanwallstreet.com/airtel-money-partners-with-naivas-to-expand-network/
The Kenyan Wallstreet
27 Nov, 07:47
UPDATE: Foreign owned Citi Bank Kenya has posted a KSh 8.1 billion in profit after tax in the 9 months to September, a 25.8% increase from KSh 6.5 billion recorded in the same period in 2023.
✅The lender, whose niche is in the corporate segment, saw its total operating income increase by 15.7% growth to KSh 16.5 billion on the back of double-digit growth in the interest earning assets.
✅Net interest income surged 26.6% to KSh 6.7 billion fueled by robust increase in interest income from loans and increased income from government securities.
✅The lender increased its allowance for credit losses by KSh 215.4 million, which drove up operating expenses by 20% in the 9 months.
Read More: https://kenyanwallstreet.com/citibank-kenya-profits-up-25-8-in-q3/
✅The lender, whose niche is in the corporate segment, saw its total operating income increase by 15.7% growth to KSh 16.5 billion on the back of double-digit growth in the interest earning assets.
✅Net interest income surged 26.6% to KSh 6.7 billion fueled by robust increase in interest income from loans and increased income from government securities.
✅The lender increased its allowance for credit losses by KSh 215.4 million, which drove up operating expenses by 20% in the 9 months.
Read More: https://kenyanwallstreet.com/citibank-kenya-profits-up-25-8-in-q3/
The Kenyan Wallstreet
27 Nov, 05:38
Safaricom Enters the Money Market Fund Industry with Ziidi MMF
https://kenyanwallstreet.com/safaricom-enters-the-money-market-fund-with-ziidi-mmf/
https://kenyanwallstreet.com/safaricom-enters-the-money-market-fund-with-ziidi-mmf/
The Kenyan Wallstreet
26 Nov, 16:27
Stay ahead of the curve with our Daily Newsletter!
Catch up on the top stories of the day, industry insights, and everything you might have missed. Delivered straight to your inbox, it's your essential guide to staying informed and inspired.
📩 Subscribe now: https://kenyanwallstreet.beehiiv.com/subscribe
Catch up on the top stories of the day, industry insights, and everything you might have missed. Delivered straight to your inbox, it's your essential guide to staying informed and inspired.
📩 Subscribe now: https://kenyanwallstreet.beehiiv.com/subscribe
The Kenyan Wallstreet
26 Nov, 15:09
Sustainability Starts With Us! 🌿
Premiering tomorrow at 8:00 AM on YouTube: An insightful conversation with Rose Lumumba, Corporate Governance Specialist at IFC - International Finance Corporation, during the Banking Industry Sustainable Finance Summit & Catalyst Awards.
She delves into the pivotal role each of us plays in adopting sustainable measures in our daily lives. Don't miss this thought-provoking discussion on how small actions lead to big impacts for a better world.
🔔 Subscribe to our YouTube channel and turn on the notification bell for your reminder here: http://www.youtube.com/@kenyanwallstreet
Premiering tomorrow at 8:00 AM on YouTube: An insightful conversation with Rose Lumumba, Corporate Governance Specialist at IFC - International Finance Corporation, during the Banking Industry Sustainable Finance Summit & Catalyst Awards.
She delves into the pivotal role each of us plays in adopting sustainable measures in our daily lives. Don't miss this thought-provoking discussion on how small actions lead to big impacts for a better world.
🔔 Subscribe to our YouTube channel and turn on the notification bell for your reminder here: http://www.youtube.com/@kenyanwallstreet
The Kenyan Wallstreet
26 Nov, 14:26
"All importers of used/ second-hand motor vehicles including returning residents, diplomatic staff and the general public that in observance of clause 2.5 of KS 1515.2000 on the eight (8) year age limit requirement, only Right Hand Drive (RHD) Motor Vehicles whose Year of First Registration is from 1st January 2018 and later shall be allowed into the country effective 1st January 2025. "
"Further, the certificates of Roadworthiness for vehicles whose year of first registration is 2017 will not be valid after 31st December 2024."
- KEBS
"Further, the certificates of Roadworthiness for vehicles whose year of first registration is 2017 will not be valid after 31st December 2024."
- KEBS
The Kenyan Wallstreet
26 Nov, 12:33
86% of founders report that building their startups has taken a toll on their mental health, a survey by early-stage venture capital firm Flourish Ventures has found.
Although 81% of them enjoyed the entrepreneurship journey, 60% reported feeling anxiety, 58% high stress, 52% exhaustion and burnout, and 20% of the respondents felt depressed.
The most stressful factors were majorly external, with the pressure to raise capital sitting at the apex with 59%, inflation and currency devaluation following at 44%, and other macroeconomic challenges recording a 40% concern.
Read More: https://kenyanwallstreet.com/over-80-of-african-startup-founders-face-mental-health-issues-flourish-ventures-survey/
Although 81% of them enjoyed the entrepreneurship journey, 60% reported feeling anxiety, 58% high stress, 52% exhaustion and burnout, and 20% of the respondents felt depressed.
The most stressful factors were majorly external, with the pressure to raise capital sitting at the apex with 59%, inflation and currency devaluation following at 44%, and other macroeconomic challenges recording a 40% concern.
Read More: https://kenyanwallstreet.com/over-80-of-african-startup-founders-face-mental-health-issues-flourish-ventures-survey/
The Kenyan Wallstreet
26 Nov, 11:33
The federal government in Mogadishu is in conflict with Jubaland after President Ahmed Mohammed Islam, more commonly known by his nom de guerre Ahmed Madobe, was reelected for a third term on Monday.
Both sides have now massed troops in Ras Kamboni, with Mogadishu recruiting to its side some Jubaland commanders who’ve since defected or now work in the federal government.
According to Garowe Online, Mogadishu deployed a contingent of 150 troops on Monday, and Jubaland deployed 300 troops in response.
Read More: https://kenyanwallstreet.com/jubaland-and-mogadishu-standoff-escalates-after-ahmed-madoobe-reelected-president/
Both sides have now massed troops in Ras Kamboni, with Mogadishu recruiting to its side some Jubaland commanders who’ve since defected or now work in the federal government.
According to Garowe Online, Mogadishu deployed a contingent of 150 troops on Monday, and Jubaland deployed 300 troops in response.
Read More: https://kenyanwallstreet.com/jubaland-and-mogadishu-standoff-escalates-after-ahmed-madoobe-reelected-president/
The Kenyan Wallstreet
26 Nov, 09:08
New Episode Alert!
The full interview with Charles Wokabi, Head of Sustainability, Communications, and Corporate Relations at Absa Bank Kenya PLC, is out now!
Captured during The Banking Industry Sustainable Finance Summit & Catalyst Awards, Charles dives into the financial sector’s transformative role in creating a sustainable future. Don’t miss his invaluable insights—watch now!
https://youtu.be/b0frt8H5QzM
#SustainabilitySummit2024 #catalystawards2024
The full interview with Charles Wokabi, Head of Sustainability, Communications, and Corporate Relations at Absa Bank Kenya PLC, is out now!
Captured during The Banking Industry Sustainable Finance Summit & Catalyst Awards, Charles dives into the financial sector’s transformative role in creating a sustainable future. Don’t miss his invaluable insights—watch now!
https://youtu.be/b0frt8H5QzM
#SustainabilitySummit2024 #catalystawards2024
The Kenyan Wallstreet
21 Nov, 18:11
Stanbic Bank has announced a Ksh 10.1 billion profit after tax for the nine-month period ended September 30, 2024.
- The Bank with operations in Kenya and South Sudan, attributed the 9% year on year growth in profitability to improved net interest income driven by 12% balance sheet growth to Kes 463 billion.
- During the period under review, the bank’s net interest income grew by 5 per cent to Kes18.9 billion on the back of growth in the average lending book and higher assets yield.
- Non-interest income reduced by 18% on account of significant non-repeated transactions in the 2023 base as well as contraction of trading margins, alleviated by increased client activity.
https://kenyanwallstreet.com/stanbic-reports-ksh10-1bn-profit-after-tax-in-q3/
- The Bank with operations in Kenya and South Sudan, attributed the 9% year on year growth in profitability to improved net interest income driven by 12% balance sheet growth to Kes 463 billion.
- During the period under review, the bank’s net interest income grew by 5 per cent to Kes18.9 billion on the back of growth in the average lending book and higher assets yield.
- Non-interest income reduced by 18% on account of significant non-repeated transactions in the 2023 base as well as contraction of trading margins, alleviated by increased client activity.
https://kenyanwallstreet.com/stanbic-reports-ksh10-1bn-profit-after-tax-in-q3/
The Kenyan Wallstreet
21 Nov, 17:54
Gautam Adani’s name is in the global newsreels for the wrong reasons again; this time, New York prosecutors are pursuing him for allegedly bribing Indian government officials with US$250 million to secure solar energy contracts.
An arrest warrant has already been issued by a US court for Gautam and Sagar Adani and prosecutors will request foreign law enforcement to bring them to justice.
https://kenyanwallstreet.com/indian-businessman-gautam-adani-faces-us250mn-bribery-charges-in-the-us/
An arrest warrant has already been issued by a US court for Gautam and Sagar Adani and prosecutors will request foreign law enforcement to bring them to justice.
https://kenyanwallstreet.com/indian-businessman-gautam-adani-faces-us250mn-bribery-charges-in-the-us/
The Kenyan Wallstreet
21 Nov, 14:57
BREAKING: " I now direct- in furtherance of the principles enriched in article 10 of the Constitution of transparency and accountability, and based on new information provided by our investigative agencies and partner nations- that the procuring agencies within the Ministry of Transport and the Ministry of Energy and Petroleum immediately cancel the ongoing procurement process for the JKIA expansion Private Public Partnership transaction..." said President Ruto during the State of the Nation Address earlier this afternoon.
The Kenyan Wallstreet
21 Nov, 10:57
26 banks have been recognized for their excellence in adopting sustainable finance practices with Cooperative, KCB and ABSA bank emerging as the overall winners in number 1,2 and 3 respectively.
During the award ceremony, the Kenya Bankers Association (KBA), in collaboration with IFC and WWF Kenya launched the revamped Sustainable Finance Guiding Principles and the Landscape of Sustainable Finance in Kenya’s Banking Industry Report as part of ongoing efforts to deepen financial inclusion and sustainability within Kenya’s financial services sector.
https://kenyanwallstreet.com/kenyan-banks-feted-for-sustainable-finance-initiatives/
During the award ceremony, the Kenya Bankers Association (KBA), in collaboration with IFC and WWF Kenya launched the revamped Sustainable Finance Guiding Principles and the Landscape of Sustainable Finance in Kenya’s Banking Industry Report as part of ongoing efforts to deepen financial inclusion and sustainability within Kenya’s financial services sector.
https://kenyanwallstreet.com/kenyan-banks-feted-for-sustainable-finance-initiatives/
The Kenyan Wallstreet
21 Nov, 08:38
“We’re thrilled to work with an impressive network of African partners to enhance financial interoperability across the continent,” said Domagoj Rozic, CEO of Minka.
In Kenya, Minka’s solutions can play a substantial role in addressing fundamental issues within the country’s financial sector which led its greylisting earlier this year, while in Nigeria, Minka is partnering with key players to drive a shift towards digital payments. In Uganda and Cameroon, Minka aims to work with regulators to address gaps in financial connectivity and broaden access to modern payment solutions.
Read More: https://kenyanwallstreet.com/colombian-fintech-minka-partners-with-banks-financial-institutions-and-regulators-across-africa-to-boost-financial-connectivity/
In Kenya, Minka’s solutions can play a substantial role in addressing fundamental issues within the country’s financial sector which led its greylisting earlier this year, while in Nigeria, Minka is partnering with key players to drive a shift towards digital payments. In Uganda and Cameroon, Minka aims to work with regulators to address gaps in financial connectivity and broaden access to modern payment solutions.
Read More: https://kenyanwallstreet.com/colombian-fintech-minka-partners-with-banks-financial-institutions-and-regulators-across-africa-to-boost-financial-connectivity/
The Kenyan Wallstreet
21 Nov, 06:12
Wadani Party Candidate, Abdirahman Irro, has defeated his opponent from the Kulmiye Party, Muse Bihi, in the just concluded Somaliland Elections.
Irro garnered over 60% of the votes casted in the elections, promising to unite Somaliland and intensify the clamor for international recognition of their autonomy.
The breakaway region with its capital in Hargeisa organised the polls last week after a two-year delay of the electoral exercise due to a financial shortage.
The Somaliland National Electoral Commission (NEC) announced on Tuesday that Bihi’s attempt to seek a second-term as president was thwarted after trailing his fiercest opponent with just about 35% of the vote.
Read More: https://kenyanwallstreet.com/abdirahman-irro-wins-somaliland-elections-defeats-incumbent-president/
Irro garnered over 60% of the votes casted in the elections, promising to unite Somaliland and intensify the clamor for international recognition of their autonomy.
The breakaway region with its capital in Hargeisa organised the polls last week after a two-year delay of the electoral exercise due to a financial shortage.
The Somaliland National Electoral Commission (NEC) announced on Tuesday that Bihi’s attempt to seek a second-term as president was thwarted after trailing his fiercest opponent with just about 35% of the vote.
Read More: https://kenyanwallstreet.com/abdirahman-irro-wins-somaliland-elections-defeats-incumbent-president/
The Kenyan Wallstreet
20 Nov, 10:48
In 2025, Kenya offers a range of real estate opportunities, From the major city to serene coastal retreats, the country’s property landscape has something for every investment profile.
Here’s your guide to the top real estate investment locations in Kenya, where growth, opportunity, and return on investment come together.
https://kenyanwallstreet.com/top-real-estate-investment-locations-in-kenya-for-2025/
Here’s your guide to the top real estate investment locations in Kenya, where growth, opportunity, and return on investment come together.
https://kenyanwallstreet.com/top-real-estate-investment-locations-in-kenya-for-2025/
The Kenyan Wallstreet
20 Nov, 10:44
develoPPP Ventures is back with another opportunity for startups in Kenya to secure EUR 100K non-dilutive capital funding to scale their impact-driven companies.
Participation requirements:
1⃣ The startup should be demonstrating a clear positive impact on development through their innovative business model.
2⃣ Ready to scale their operations and amplify their impact.
3⃣ Able to acquire matching funding from other investors.
Interested applicants can sign up here before December 31, 2024: https://vc4a.com/developpp/2024-q4/?utm_source=viktoria-ventures&utm_medium=press-release&utm_campaign=developpp-ke-rw-tz
More details: https://kenyanwallstreet.com/call-for-applications-developpp-ventures-cohort-8-eur-100k-non-dilutive-funding-and-technical-support-for-innovative-start-ups-in-kenya-to-catalyse-matching-investments/
Participation requirements:
1⃣ The startup should be demonstrating a clear positive impact on development through their innovative business model.
2⃣ Ready to scale their operations and amplify their impact.
3⃣ Able to acquire matching funding from other investors.
Interested applicants can sign up here before December 31, 2024: https://vc4a.com/developpp/2024-q4/?utm_source=viktoria-ventures&utm_medium=press-release&utm_campaign=developpp-ke-rw-tz
More details: https://kenyanwallstreet.com/call-for-applications-developpp-ventures-cohort-8-eur-100k-non-dilutive-funding-and-technical-support-for-innovative-start-ups-in-kenya-to-catalyse-matching-investments/
The Kenyan Wallstreet
20 Nov, 10:43
develoPPP Ventures is back with another opportunity for startups in Kenya to secure EUR 100K non-dilutive capital funding to scale their impact-driven companies.
Participation requirements:
1⃣ The startup should be demonstrating a clear positive impact on development through their innovative business model.
2⃣ Ready to scale their operations and amplify their impact.
3⃣ Able to acquire matching funding from other investors.
Interested applicants can sign up here before December 31, 2024: https://vc4a.com/developpp/2024-q4/?utm_source=viktoria-ventures&utm_medium=press-release&utm_campaign=developpp-ke-rw-tz
More details: https://kenyanwallstreet.com/call-for-applications-developpp-ventures-cohort-8-eur-100k-non-dilutive-funding-and-technical-support-for-innovative-start-ups-in-kenya-to-catalyse-matching-investments/
Participation requirements:
1⃣ The startup should be demonstrating a clear positive impact on development through their innovative business model.
2⃣ Ready to scale their operations and amplify their impact.
3⃣ Able to acquire matching funding from other investors.
Interested applicants can sign up here before December 31, 2024: https://vc4a.com/developpp/2024-q4/?utm_source=viktoria-ventures&utm_medium=press-release&utm_campaign=developpp-ke-rw-tz
More details: https://kenyanwallstreet.com/call-for-applications-developpp-ventures-cohort-8-eur-100k-non-dilutive-funding-and-technical-support-for-innovative-start-ups-in-kenya-to-catalyse-matching-investments/
The Kenyan Wallstreet
20 Nov, 09:13
The 50% fare hike on the Madaraka Express, Standard Gauge Railway (SGR) that took effect in January continued to depress passenger numbers by 8.8% in the 9 months to September.
✔ In September, passenger numbers dropped significantly by 32.7% to 296.4 million from 440.6 million in August, prompting a KSh 141.1 million loss in the period.
✔ In November 2023, Kenya Railways increased fares by KSh 500 – KSh 1500 necessitated by adjustments in fuel prices which breached the KSh 200 mark.
https://kenyanwallstreet.com/sgr-passenger-traffic-drops-by-9-in-9-months/
✔ In September, passenger numbers dropped significantly by 32.7% to 296.4 million from 440.6 million in August, prompting a KSh 141.1 million loss in the period.
✔ In November 2023, Kenya Railways increased fares by KSh 500 – KSh 1500 necessitated by adjustments in fuel prices which breached the KSh 200 mark.
https://kenyanwallstreet.com/sgr-passenger-traffic-drops-by-9-in-9-months/
The Kenyan Wallstreet
20 Nov, 09:07
Cabinet Secretaries, Principal Secretaries, and other public servants signed new performance contracts at State House on Tuesday, in an event convened by President William Ruto.
- The contracts will specify targets that each official is expected to meet by the end of every financial year to promote accountability and enhance collective responsibility.
- The Cabinet Secretaries will receive a scorecard on the list of the achievements made and unfulfilled targets; with performers feted and failures sanctioned.
https://kenyanwallstreet.com/cabinet-secretaries-under-pressure-to-meet-fresh-performance-targets/
- The contracts will specify targets that each official is expected to meet by the end of every financial year to promote accountability and enhance collective responsibility.
- The Cabinet Secretaries will receive a scorecard on the list of the achievements made and unfulfilled targets; with performers feted and failures sanctioned.
https://kenyanwallstreet.com/cabinet-secretaries-under-pressure-to-meet-fresh-performance-targets/
The Kenyan Wallstreet
20 Nov, 09:02
Angola’s central bank maintained its benchmark interest rate at 19.5% for a third time on Tuesday, citing a potential slowdown in headline inflation.
✅The Bank of Angola had raised its main rate by 50 basis points at its May monetary policy meeting, after hiking it by 100 basis points in March seeking to tame the skyrocketing inflation which had crossed 30%.
✅Annual inflation stood at 29.2% in October, a slowdown from 29.9% in September.
✅The apex bank attributed the slowdown in inflation to enhanced supply of consumer goods coupled with adequate monetary conditions and the relative stability of the exchange rate.
https://kenyanwallstreet.com/angola-maintains-19-5-interest-rate-as-inflation-pressures-persist/
✅The Bank of Angola had raised its main rate by 50 basis points at its May monetary policy meeting, after hiking it by 100 basis points in March seeking to tame the skyrocketing inflation which had crossed 30%.
✅Annual inflation stood at 29.2% in October, a slowdown from 29.9% in September.
✅The apex bank attributed the slowdown in inflation to enhanced supply of consumer goods coupled with adequate monetary conditions and the relative stability of the exchange rate.
https://kenyanwallstreet.com/angola-maintains-19-5-interest-rate-as-inflation-pressures-persist/
The Kenyan Wallstreet
19 Nov, 13:10
Absa Kenya has posted a 19.8% increase in net profit to KSh 14.8 billion in the 9 months to September from KSh 12.3 billion recorded in the same period in 2023.
The growth was underpinned by a 16.5% increase in revenue to KSh 46.76 billion, helped by significant increases in both funded and non funded income.
The growth was tempered by a faster surge in operating expenses which totalled KSh 25.7 billion in the period. Read More: https://kenyanwallstreet.com/absa-kenya-profit-up-20-in-q3-to-ksh-14-8bn/
The growth was underpinned by a 16.5% increase in revenue to KSh 46.76 billion, helped by significant increases in both funded and non funded income.
The growth was tempered by a faster surge in operating expenses which totalled KSh 25.7 billion in the period. Read More: https://kenyanwallstreet.com/absa-kenya-profit-up-20-in-q3-to-ksh-14-8bn/
The Kenyan Wallstreet
19 Nov, 11:16
The National Treasury is seeking to rescue pension funds choking from non-remittance of workers contributions which stood at a staggering Kshs 36,284,729,685 by March 2023.
Read More: https://kenyanwallstreet.com/treasury-cs-mbadi-moves-to-contain-pension-crisis/
Read More: https://kenyanwallstreet.com/treasury-cs-mbadi-moves-to-contain-pension-crisis/
The Kenyan Wallstreet
19 Nov, 10:12
Weak intellectual property laws in the continent have precipitated a flourishing US$250 billion industry of counterfeit electrical products, according to a report by CBi-electric.
CBi-electric is a South African manufacturer and supplier of low-voltage electrical equipment based in Johannesburg.
According to the report, counterfeit electrical equipment has penetrated 40 – 80 per cent of African markets, tanking revenues of veritable manufacturers.
These legitimate manufacturers lose up to US$600 billion annually, which in turn leads to job losses and tax revenues.
Read More: https://kenyanwallstreet.com/counterfeit-electrical-equipment-incur-us600bn-losses-for-african-manufacturers/
CBi-electric is a South African manufacturer and supplier of low-voltage electrical equipment based in Johannesburg.
According to the report, counterfeit electrical equipment has penetrated 40 – 80 per cent of African markets, tanking revenues of veritable manufacturers.
These legitimate manufacturers lose up to US$600 billion annually, which in turn leads to job losses and tax revenues.
Read More: https://kenyanwallstreet.com/counterfeit-electrical-equipment-incur-us600bn-losses-for-african-manufacturers/
The Kenyan Wallstreet
19 Nov, 08:34
The paramilitary Rapid Support Forces of Sudan (RSF) is putting its enemy, the Sudanese Armed Forces, at the center of suffering of millions of Sudanese claiming they are not committed to meaningful dialogue that would put war to an end. https://kenyanwallstreet.com/blame-game-as-sudan-war-escalates-into-global-proxy-conflict/
The Kenyan Wallstreet
19 Nov, 06:54
Bitcoin has surged over 30% since President Trump’s victory with Gold falling about 5% as dynamics continue shifting towards digital assets.
Bitcoin surged above US$91,600 last week touching new record highs of US$93,000 as investors pumped money to the digital coins with hopes of easing crypto regulations.
Other cryptocurrencies including Dogecoin – a ‘meme coin’ affiliated to Elon Musk, who is also a Trump ally – have soared 152%.
Ethereum has had a 21.7% uptick in a month, Solana up 36.4% with Tether edging higher 1.98%, while crypto-linked stocks including Coinbase and Microstrategy were bullish too.
Read More: https://kenyanwallstreet.com/crypto-surges-as-gold-edges-downwards-after-trumps-win/
Bitcoin surged above US$91,600 last week touching new record highs of US$93,000 as investors pumped money to the digital coins with hopes of easing crypto regulations.
Other cryptocurrencies including Dogecoin – a ‘meme coin’ affiliated to Elon Musk, who is also a Trump ally – have soared 152%.
Ethereum has had a 21.7% uptick in a month, Solana up 36.4% with Tether edging higher 1.98%, while crypto-linked stocks including Coinbase and Microstrategy were bullish too.
Read More: https://kenyanwallstreet.com/crypto-surges-as-gold-edges-downwards-after-trumps-win/
The Kenyan Wallstreet
19 Nov, 06:47
About 33.2% of urban dwellers in Kenya consumed less than KSh 8,000 per month, while 42.9% of Kenyans living in rural areas spent less than KSh 4,300 per month, comprised the overall poverty headcount which stood at 39.8%.
According to the KNBS, these signals that over 20 million Kenyans were unable to viably sustain themselves.
16 million Kenyans found it difficult to afford food, 33.2% in rural areas unable to buy food above KSh 2,600 per month while 28.6% in urban areas could not afford KSh 3,500 per month for food.
About 400,000 people lived in conditions of extreme poverty in urban centers while in rural areas, that figure was higher at 3.2 million people.
Read More: https://kenyanwallstreet.com/kenyas-poverty-rate-edges-to-40-knbs/
According to the KNBS, these signals that over 20 million Kenyans were unable to viably sustain themselves.
16 million Kenyans found it difficult to afford food, 33.2% in rural areas unable to buy food above KSh 2,600 per month while 28.6% in urban areas could not afford KSh 3,500 per month for food.
About 400,000 people lived in conditions of extreme poverty in urban centers while in rural areas, that figure was higher at 3.2 million people.
Read More: https://kenyanwallstreet.com/kenyas-poverty-rate-edges-to-40-knbs/
The Kenyan Wallstreet
18 Nov, 12:38
Congratulations to the TOP 10 Startups heading to the Latitude59 Kenya Pitch Competition Finals!
This year broke records with 382 applications from 37 countries. Finalists include:
Eco Nasi (Kenya): Vegan leather from pineapple waste.
Twiva (Kenya): Social commerce for brands through influencers.
AcemyX (Nigeria): LMS for personalized exam prep.
NoMa (Kenya): Digitized school transportation.
VunaPay (Kenya): Instant payments for farmers.
Finalists vie for a chance to pitch at Latitude59 2025 in Estonia for up to €1M! 🏆
To witness the finals in person, grab your Tickets Here: https://latitude59.ee/tickets/ Check out the link to see who made it to the TOP 40: https://latitude59.ee/the-boldest-african-startups-heading-to-the-finals-of-the-l59-pitch-competition/
This year broke records with 382 applications from 37 countries. Finalists include:
Eco Nasi (Kenya): Vegan leather from pineapple waste.
Twiva (Kenya): Social commerce for brands through influencers.
AcemyX (Nigeria): LMS for personalized exam prep.
NoMa (Kenya): Digitized school transportation.
VunaPay (Kenya): Instant payments for farmers.
Finalists vie for a chance to pitch at Latitude59 2025 in Estonia for up to €1M! 🏆
To witness the finals in person, grab your Tickets Here: https://latitude59.ee/tickets/ Check out the link to see who made it to the TOP 40: https://latitude59.ee/the-boldest-african-startups-heading-to-the-finals-of-the-l59-pitch-competition/
The Kenyan Wallstreet
18 Nov, 08:47
Happening this Week: The Banking Industry Sustainable Finance Summit & Catalyst Awards
This transformative summit will bring together leaders from finance, policy, and sustainability to drive meaningful change in green banking.
Here are some of the impactful speakers of the Day!
This transformative summit will bring together leaders from finance, policy, and sustainability to drive meaningful change in green banking.
Here are some of the impactful speakers of the Day!
The Kenyan Wallstreet
15 Nov, 09:40
The South African Pay-TV service MultiChoice has lost more than 1.8 million subscribers in its continental markets due to inflationary pressures and free-to-air alternatives.
Subscription growth in Kenya dipped by 19%, while in Nigeria, Angola, and Zambia – subscription fell by 18%, 8%, and 60% respectively.
The decline in subscriber base was further attributed to the hikes in subscription fees for both DSTV and Go-TV packages in its various markets, prompting a 10% revenue decline for the group.
Read More: https://kenyanwallstreet.com/multichoice-subscriptions-in-kenya-declines-by-19-amid-operational-difficulties/
Subscription growth in Kenya dipped by 19%, while in Nigeria, Angola, and Zambia – subscription fell by 18%, 8%, and 60% respectively.
The decline in subscriber base was further attributed to the hikes in subscription fees for both DSTV and Go-TV packages in its various markets, prompting a 10% revenue decline for the group.
Read More: https://kenyanwallstreet.com/multichoice-subscriptions-in-kenya-declines-by-19-amid-operational-difficulties/
The Kenyan Wallstreet
15 Nov, 08:12
ToffeeTribe, one of last year's Latitude59 Pitch Competition winners, gained a 3-month Nairobi Garage membership and a spot in the Startup Wise Guys Pre-accelerator program. The startup’s model—repurposing restaurants as co-working spaces—supports Africa’s remote workforce.
Latitude59 caught up with Nginda N. from ToffeeTribe to reflect on lessons gained from the 2023 L59 Pitch Competition in Kenya:
- Crafted a strong pitch deck and presentation skills
- Gained insights into scaling, business models, and fundraising
Refined their model via investor-led workshops
- Prepared an MVP and achieved market fit.
- Formed lasting industry connections
Boost your startup’s visibility by securing a Latitude59xKenya early-stage booth on Nov 28! Register here: https://lu.ma/latitude59kenya2024
Latitude59 caught up with Nginda N. from ToffeeTribe to reflect on lessons gained from the 2023 L59 Pitch Competition in Kenya:
- Crafted a strong pitch deck and presentation skills
- Gained insights into scaling, business models, and fundraising
Refined their model via investor-led workshops
- Prepared an MVP and achieved market fit.
- Formed lasting industry connections
Boost your startup’s visibility by securing a Latitude59xKenya early-stage booth on Nov 28! Register here: https://lu.ma/latitude59kenya2024
The Kenyan Wallstreet
15 Nov, 07:26
UPDATE: The day has finally come where developers from across the globe can build on its National Blockchain Network (NBN) through its sandbox.
Zanzibar’s newest government agency, the eGovernment Authority (eGAZ), announced last month the upcoming launch of Africa’s first government-led blockchain ecosystem. (Zanzibar National Blockchain Network)
The NBN is a permission-based blockchain sandbox running on the XDC Network and further powered by LedgerFi.
It is designed to connect African governments, industries, and individuals for the purpose of fostering trust, collaboration, and innovation between stakeholders.
Read More:https://kenyanwallstreet.com/zanzibar-launches-national-blockchain-network-sandbox-for-global-innovators-corporates-and-governments/
Zanzibar’s newest government agency, the eGovernment Authority (eGAZ), announced last month the upcoming launch of Africa’s first government-led blockchain ecosystem. (Zanzibar National Blockchain Network)
The NBN is a permission-based blockchain sandbox running on the XDC Network and further powered by LedgerFi.
It is designed to connect African governments, industries, and individuals for the purpose of fostering trust, collaboration, and innovation between stakeholders.
Read More:https://kenyanwallstreet.com/zanzibar-launches-national-blockchain-network-sandbox-for-global-innovators-corporates-and-governments/
The Kenyan Wallstreet
15 Nov, 06:38
The Port of Mombasa recorded a 14% increase in cargo handled from January-October period with Uganda contributing to bulk of the performance.
The Port handled 33,779,255 tons against 29,662,851 tons registered in the similar period in 2023 representing an increase of 4,116,404 tons.
Containerized cargo which increased by 3,120,884 tons or 21.1% while Liquid Bulk also increased by 697,648 tons or 9.0%. Read More:https://kenyanwallstreet.com/mombasa-port-records-14-cargo-jump-uganda-major-mover/
The Port handled 33,779,255 tons against 29,662,851 tons registered in the similar period in 2023 representing an increase of 4,116,404 tons.
Containerized cargo which increased by 3,120,884 tons or 21.1% while Liquid Bulk also increased by 697,648 tons or 9.0%. Read More:https://kenyanwallstreet.com/mombasa-port-records-14-cargo-jump-uganda-major-mover/
The Kenyan Wallstreet
15 Nov, 05:16
UPDATE: The prices of Super Petrol, Diesel and Kerosene will now remain unchanged for the next 30 days in Nairobi after the latest monthly fuel review by the Energy and Petroleum Regulatory Authority (EPRA ).
The regulator retained pump prices for Super Petrol, Diesel and Kerosene at KSh 180.66, KSh 168.06, KSh 151.39 per litre respectively.
Read More: https://kenyanwallstreet.com/fuel-prices-for-november-remain-unchanged-latest-epra-review/
The regulator retained pump prices for Super Petrol, Diesel and Kerosene at KSh 180.66, KSh 168.06, KSh 151.39 per litre respectively.
Read More: https://kenyanwallstreet.com/fuel-prices-for-november-remain-unchanged-latest-epra-review/
The Kenyan Wallstreet
14 Nov, 12:18
Amsonsgroup, the Tanzanian business conglomerate, has received regulatory approval from the COMESA Competition Commission for its proposed acquisition of up to 100% of Bamburi Cement PLC.
The COMESA Competition Commission confirmed that the proposed acquisition falls within its ambit and does not pose a competition risk within the common market. - Amsons Group
The COMESA Competition Commission confirmed that the proposed acquisition falls within its ambit and does not pose a competition risk within the common market. - Amsons Group
The Kenyan Wallstreet
14 Nov, 11:17
Coming Up Next Week: Banking Industry Sustainable Finance Summit and Catalyst Awards – Just 6 Days to Go!
The Sustainable Finance Summit is almost here, gathering leaders in finance, policy, and sustainability for powerful discussions on the future of green banking. Join Kenya Bankers Association in partnership with WWF-Kenya, IFC - International Finance Corporation and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH as they explore innovations, recognize achievements through the Catalyst Awards, and drive sustainable finance forward. Don’t miss this chance to connect with industry changemakers!
The Sustainable Finance Summit is almost here, gathering leaders in finance, policy, and sustainability for powerful discussions on the future of green banking. Join Kenya Bankers Association in partnership with WWF-Kenya, IFC - International Finance Corporation and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH as they explore innovations, recognize achievements through the Catalyst Awards, and drive sustainable finance forward. Don’t miss this chance to connect with industry changemakers!
The Kenyan Wallstreet
14 Nov, 10:52
The Kenyan Shilling weakened slightly against a stronger US Dollar on Thursday as demand for the foreign currency increased globally following President Trump’s victory last week.
The Central Bank of Kenya (CBK) quoted the shilling at 129.3507 on Thursday, a 3-month low, from 129.25 on Wednesday as dollar demand outweighed its supply in the domestic market.
The dollar index, which tracks the US dollar against a basket of currencies, touched a one year high on Thursday, currently trading above the 106.5 mark.
CBK is expected to deliver a monetary policy decision at its December meeting after the annual inflation rate dropped below 3% for the first time in 12 years, reaching 2.7% in October slightly above the preferred 2.5% midpoint of CBK’s target range. Read More: https://kenyanwallstreet.com/kenyan-shilling-weakens-slightly-as-dollar-rally-continues/
The Central Bank of Kenya (CBK) quoted the shilling at 129.3507 on Thursday, a 3-month low, from 129.25 on Wednesday as dollar demand outweighed its supply in the domestic market.
The dollar index, which tracks the US dollar against a basket of currencies, touched a one year high on Thursday, currently trading above the 106.5 mark.
CBK is expected to deliver a monetary policy decision at its December meeting after the annual inflation rate dropped below 3% for the first time in 12 years, reaching 2.7% in October slightly above the preferred 2.5% midpoint of CBK’s target range. Read More: https://kenyanwallstreet.com/kenyan-shilling-weakens-slightly-as-dollar-rally-continues/
The Kenyan Wallstreet
14 Nov, 10:31
The Central Bank of Kenya (CBK) has cautioned against “erroneous information” by “malicious actors” on the stability of the country’s banking system.
Although it was not immediately clear what the CBK was referring to, it is likely related to a series of online posts implying a widespread bank run, and alleging mitigation measures including withdrawal caps.
The posts have since grown in scope, including amplifying some of the issues that have become more common since the country’s banking system was gray listed in February for weaknesses in its anti-money laundering regime.
CBK’s cautionary statement indicates a growing concern of the effect of the posts and rumours.
Read More: https://kenyanwallstreet.com/central-bank-cautions-against-false-information-on-banking-sector/
Although it was not immediately clear what the CBK was referring to, it is likely related to a series of online posts implying a widespread bank run, and alleging mitigation measures including withdrawal caps.
The posts have since grown in scope, including amplifying some of the issues that have become more common since the country’s banking system was gray listed in February for weaknesses in its anti-money laundering regime.
CBK’s cautionary statement indicates a growing concern of the effect of the posts and rumours.
Read More: https://kenyanwallstreet.com/central-bank-cautions-against-false-information-on-banking-sector/
The Kenyan Wallstreet
13 Nov, 15:33
State House will hire more consultants just months after President William Ruto pledged austerity measures to reduce government spending. The Executive office of the President in State House stated that they needed consultants in macroeconomic policy, public finance, trade, international economics, financial inclusion, labour markets, health economics, agricultural economics, and industrial economics. https://kenyanwallstreet.com/state-backtracks-on-austerity-as-president-ruto-seeks-more-economic-advisors/
The Kenyan Wallstreet
13 Nov, 13:20
BREAKING: US Ambassador to Kenya, Meg Whitman, reportedly resigns after submitting her resignation letter to US President Joe Biden.
Under Amb. Meg Whitman (who has served since 2022), Kenya was labelled the United States' first Major Non-NATO ally in Sub-Saharan Africa. The Ambassador mentions the recent election of President Donald Trump in her letter, wishing him and his team the best in facilitating the US's relationship with the Republic of Kenya.
Given the Ambassador's significant role in facilitating US businesses in expanding and doing business in Kenya, how do you feel the position change will impact Kenya in the coming months?
Under Amb. Meg Whitman (who has served since 2022), Kenya was labelled the United States' first Major Non-NATO ally in Sub-Saharan Africa. The Ambassador mentions the recent election of President Donald Trump in her letter, wishing him and his team the best in facilitating the US's relationship with the Republic of Kenya.
Given the Ambassador's significant role in facilitating US businesses in expanding and doing business in Kenya, how do you feel the position change will impact Kenya in the coming months?
The Kenyan Wallstreet
13 Nov, 12:41
Banks in sub-Saharan Africa are increasing their focus on gender balance in lending with majority of the institutions reporting better loan performance among female-led firms.
Two-thirds of banks have financial services or products specifically targeting women.
“Banks continue to report better loan performance among female-led firms, with nearly 70 per cent of banks observing lower rates of non-performing loans for these businesses. This again highlights the advantage of lending to women."
Read More:https://kenyanwallstreet.com/female-led-firms-default-less-on-loans-in-sub-saharan-africa-eib-report/
Two-thirds of banks have financial services or products specifically targeting women.
“Banks continue to report better loan performance among female-led firms, with nearly 70 per cent of banks observing lower rates of non-performing loans for these businesses. This again highlights the advantage of lending to women."
Read More:https://kenyanwallstreet.com/female-led-firms-default-less-on-loans-in-sub-saharan-africa-eib-report/
The Kenyan Wallstreet
13 Nov, 07:07
Join Latitude59 for an exclusive Investor Experience and discover the best of East Africa’s tech and startup ecosystem. 🌍
The 3-day Investor Experience package for Latitude59 Kenya Edition 2024 includes:
📍 Investor Day at the Tigoni Tea Plantation. Meetings with local and international investors. Powered by Smart Africa.
📍 Official reception with the Estonian Ambassador-at-large Daniel Schaer
📍 VIP Speaker and Partner dinner of Latitude59 Kenya Edition
📍 Latitude59 Kenya Edition 2024 – the main conference day; including invitation-only roundtables and access to VIP Investor Lounge
📍 The official Latitude59 Afterparty in Nairobi
📍 Networking Safari with a visit to the Giraffe Sanctuary
Feel free to reach out to the Latitude59 team for support and suggestions on flights, accommodations, or any other needs. (Kai Isand, the Investor Experience Manager for Latitude59 Kenya Edition, is here to help) https://latitude59.ee/investor-experience/
The 3-day Investor Experience package for Latitude59 Kenya Edition 2024 includes:
📍 Investor Day at the Tigoni Tea Plantation. Meetings with local and international investors. Powered by Smart Africa.
📍 Official reception with the Estonian Ambassador-at-large Daniel Schaer
📍 VIP Speaker and Partner dinner of Latitude59 Kenya Edition
📍 Latitude59 Kenya Edition 2024 – the main conference day; including invitation-only roundtables and access to VIP Investor Lounge
📍 The official Latitude59 Afterparty in Nairobi
📍 Networking Safari with a visit to the Giraffe Sanctuary
Feel free to reach out to the Latitude59 team for support and suggestions on flights, accommodations, or any other needs. (Kai Isand, the Investor Experience Manager for Latitude59 Kenya Edition, is here to help) https://latitude59.ee/investor-experience/
The Kenyan Wallstreet
13 Nov, 03:04
- Is Safaricom's share price currently undervalued?
- Here is why Safaricom is considering alliances with satellite internet players like Starlink
- Kenya now has 7 companies in the MSCI Global Index
- Equity Group’s Q3 profits jump 13%
Get these updates daily in your inbox👉 https://shorturl.at/N61Nf
- Here is why Safaricom is considering alliances with satellite internet players like Starlink
- Kenya now has 7 companies in the MSCI Global Index
- Equity Group’s Q3 profits jump 13%
Get these updates daily in your inbox👉 https://shorturl.at/N61Nf
The Kenyan Wallstreet
12 Nov, 13:52
Equity Bank Limited Group’s net profit for the 3rd quarter grew 13.1% to KSh 40.9 billion primarily driven by an increase in operating income boosted by growth in the Tanzania and Rwanda subsidiaries.
- Net interest income surged 11% to KSh 80.6 billion on the back of an increase in yields from investment securities while non funded income increased 5.8% to KSh 61.2 billion on increased fees and commissions.
- The growth was however tempered by a 7.4% increase in operating expenses to KSh 90.7 billion from KSh 84.5 billion in the same period in 2023.
- Customer deposits grew by 9% to KSh 1.3 trillion driven by growth from Rwanda, DRC and Kenya which saw deposits grow 39%, 14% and 8% respectively.
https://kenyanwallstreet.com/equity-group-q3-profits-up-13-to-ksh-40-9-bn/
- Net interest income surged 11% to KSh 80.6 billion on the back of an increase in yields from investment securities while non funded income increased 5.8% to KSh 61.2 billion on increased fees and commissions.
- The growth was however tempered by a 7.4% increase in operating expenses to KSh 90.7 billion from KSh 84.5 billion in the same period in 2023.
- Customer deposits grew by 9% to KSh 1.3 trillion driven by growth from Rwanda, DRC and Kenya which saw deposits grow 39%, 14% and 8% respectively.
https://kenyanwallstreet.com/equity-group-q3-profits-up-13-to-ksh-40-9-bn/
The Kenyan Wallstreet
12 Nov, 13:51
International airline company, Emirates, will offer its Kenyan customers travel advice, consultancy, self-service smart technologies, and immersive displays of their products on their first retail store in the country.
- The retail store will enhance the airline’s hospitality index and upgrade services for its customers by minimising delays through self-service touchpoints.
- The airline is gearing up to celebrate its 30th year in Kenya after serving over five million passengers between Kenya and Dubai daily.
https://kenyanwallstreet.com/emirates-opens-first-retail-store-in-nairobi/
- The retail store will enhance the airline’s hospitality index and upgrade services for its customers by minimising delays through self-service touchpoints.
- The airline is gearing up to celebrate its 30th year in Kenya after serving over five million passengers between Kenya and Dubai daily.
https://kenyanwallstreet.com/emirates-opens-first-retail-store-in-nairobi/
The Kenyan Wallstreet
12 Nov, 07:55
“Our Share price is undervalued by 50%” Safaricom CEO
The Nairobi Securities Exchange (NSE) has been bullish for the better part of 2024, gaining 24.9% year to date benefitting mainly from gains in the banking, energy and construction sectors.
Safaricom has however been trading below its All-Time High of KSh 45.25 realized in August 2021.
The telco’s share price has gained 10.8% since the year began closing Monday at KSh 15.40.
Watch Full Interview : https://www.youtube.com/watch?v=NyUs8OBYBwU&t=82s
Read More: https://kenyanwallstreet.com/our-share-price-is-undervalued-by-50-safaricom-ceo/
The Nairobi Securities Exchange (NSE) has been bullish for the better part of 2024, gaining 24.9% year to date benefitting mainly from gains in the banking, energy and construction sectors.
Safaricom has however been trading below its All-Time High of KSh 45.25 realized in August 2021.
The telco’s share price has gained 10.8% since the year began closing Monday at KSh 15.40.
Watch Full Interview : https://www.youtube.com/watch?v=NyUs8OBYBwU&t=82s
Read More: https://kenyanwallstreet.com/our-share-price-is-undervalued-by-50-safaricom-ceo/
The Kenyan Wallstreet
12 Nov, 07:18
Countdown to Latitude59 Kenya! Just 16 Days Left!
After an incredible 2023, Latitude59 x Kenya returns with even bigger goals—connecting African and international founders, fostering innovation, and empowering growth in Kenya's startup ecosystem! With over 40 speakers lined up, expect a one-day program packed with impactful discussions on Cleantech, funding, and African founders’ journeys. Join us for the Pitch Competition to see top startups showcase their vision. This is your chance to network, learn from global experts, and help shape a sustainable, competitive future for African innovation.
Get your tickets now! https://latitude59.ee/tickets/
📍 Location: A.S.K Dome
For more information: https://latitude59.ee/kenya/
After an incredible 2023, Latitude59 x Kenya returns with even bigger goals—connecting African and international founders, fostering innovation, and empowering growth in Kenya's startup ecosystem! With over 40 speakers lined up, expect a one-day program packed with impactful discussions on Cleantech, funding, and African founders’ journeys. Join us for the Pitch Competition to see top startups showcase their vision. This is your chance to network, learn from global experts, and help shape a sustainable, competitive future for African innovation.
Get your tickets now! https://latitude59.ee/tickets/
📍 Location: A.S.K Dome
For more information: https://latitude59.ee/kenya/
The Kenyan Wallstreet
11 Nov, 17:05
Today’s Business Highlights:
- Parliament plans to raise entry standards for overseas companies in Kenya
- Kenya's Foreign reserves swell with the shilling’s stability and robust remittance inflows
- Gov’t to introduce a new medical insurance plan for civil servants
- The nation grapples with balancing economic recovery and tax burdens
- Bongani Sithole shares 54 Collective’s mission to reshape early-stage funding on the continent
- Safaricom PLC CEO Dr. Peter Ndegwa C.B.S discusses Ethiopia’s market, stock trends, new products, and Starlink partnership
Subscribe to our newsletter for your daily dose👉 https://shorturl.at/N61Nf
- Parliament plans to raise entry standards for overseas companies in Kenya
- Kenya's Foreign reserves swell with the shilling’s stability and robust remittance inflows
- Gov’t to introduce a new medical insurance plan for civil servants
- The nation grapples with balancing economic recovery and tax burdens
- Bongani Sithole shares 54 Collective’s mission to reshape early-stage funding on the continent
- Safaricom PLC CEO Dr. Peter Ndegwa C.B.S discusses Ethiopia’s market, stock trends, new products, and Starlink partnership
Subscribe to our newsletter for your daily dose👉 https://shorturl.at/N61Nf
The Kenyan Wallstreet
11 Nov, 13:38
The Treasury has introduced a draft bill that will create a new comprehensive health insurance cover for civil servants and disciplined forces separate from the Social Health Insurance Fund (SHIF) provisions.
- The Public Finance Management (Public Officers Medical Scheme Fund) Regulations, 2024, will replace the Comprehensive Medical Insurance Scheme for Civil Servants and Disciplined Forces that was in operation since 2012.
- The scheme was terminated on 1st October after the cessation of NHIF following the rollout of the new insurance scheme, SHIF.
https://kenyanwallstreet.com/govt-to-provide-civil-servants-medical-insurance-separate-from-shif/
- The Public Finance Management (Public Officers Medical Scheme Fund) Regulations, 2024, will replace the Comprehensive Medical Insurance Scheme for Civil Servants and Disciplined Forces that was in operation since 2012.
- The scheme was terminated on 1st October after the cessation of NHIF following the rollout of the new insurance scheme, SHIF.
https://kenyanwallstreet.com/govt-to-provide-civil-servants-medical-insurance-separate-from-shif/
The Kenyan Wallstreet
11 Nov, 13:32
In this episode, our co-founder Eric Asuma sits down with Safaricom CEO Peter Ndegwa to discuss the company’s recent half-year financial results and the impact of Ethiopia’s recent currency devaluation on group earnings.
The Ethiopian Birr depreciated against the dollar by 106%, closing September at 118.99 from 57.69 in June 2024.
https://kenyanwallstreet.com/safaricom-ceo-peter-ndegwa-on-ethiopia-stock-price-new-products-and-starlink-partnership/
The Ethiopian Birr depreciated against the dollar by 106%, closing September at 118.99 from 57.69 in June 2024.
https://kenyanwallstreet.com/safaricom-ceo-peter-ndegwa-on-ethiopia-stock-price-new-products-and-starlink-partnership/
The Kenyan Wallstreet
11 Nov, 12:00
Parliament is seeking to raise bar for foreign firms seeking to conduct business in Kenya with a raft of proposals to amend the Public Procurement and Asset Disposal Act.
- A foreigner who registers a company by misrepresenting himself or herself as being Kenyan for instance risks a Ksh 5 million fine or imprisonment.
- The National Assembly is also seeking to block Kenyans from registering a company on behalf of a foreigner.
- The proposed amendments also seek to block foreign companies from accessing tenders of less than KSh 1 billion, which will only be awarded to local firm.
https://kenyanwallstreet.com/parliament-seeks-to-raise-bar-for-foreign-firms-doing-business-in-kenya/
- A foreigner who registers a company by misrepresenting himself or herself as being Kenyan for instance risks a Ksh 5 million fine or imprisonment.
- The National Assembly is also seeking to block Kenyans from registering a company on behalf of a foreigner.
- The proposed amendments also seek to block foreign companies from accessing tenders of less than KSh 1 billion, which will only be awarded to local firm.
https://kenyanwallstreet.com/parliament-seeks-to-raise-bar-for-foreign-firms-doing-business-in-kenya/
The Kenyan Wallstreet
11 Nov, 08:37
Catch the latest insights as Eric Asuma sits down with Safaricom CEO Peter Ndegwa to discuss the company's half-year financial results, M-Pesa’s expansion into Ethiopia, and how currency devaluation is impacting business.
Watch the full video on YouTube: https://youtu.be/NyUs8OBYBwU
Watch the full video on YouTube: https://youtu.be/NyUs8OBYBwU
The Kenyan Wallstreet
11 Nov, 08:13
Welcome to another edition of #TheWeeklyBrief Newsletter🔥
Here's what you need to know to start your week👇 https://kenyanwallstreet.beehiiv.com/p/kenya-stacks-up-dollars-kra-targets-crypto-billions
Here's what you need to know to start your week👇 https://kenyanwallstreet.beehiiv.com/p/kenya-stacks-up-dollars-kra-targets-crypto-billions
The Kenyan Wallstreet
11 Nov, 07:44
Kenya is standing at a critical economic crossroads as the government unveils a fresh series of tax refo rms and policy measures to ease economic pressures, boost growth, and restore public trust.
https://kenyanwallstreet.com/kenyas-taxing-times-balancing-economic-recovery-and-tax-revenue/
https://kenyanwallstreet.com/kenyas-taxing-times-balancing-economic-recovery-and-tax-revenue/
The Kenyan Wallstreet
11 Nov, 06:37
Kenya’s forex reserves have grown by US$1.97 billion in the last ten weeks with the Central Bank of Kenya (CBK) buying excess dollars amid increased supply of the greenback.
Last week, Kenya increased its reserves increase by a record US$737 million or 8.6% to bring the total to US$9.323 billion.
The jump comes just a week after the International Monetary Fund (IMF) approved the US$606 million disbursement under the US$3.6 billion medium-term programme with Kenya after months of delays.
The current reserves – the highest in 3 years – are enough to cover 4.8 months of imports, both falling above the 4 months statutory requirements and the EAC’s convergence requirement of 4.5 months of import cover.
Read More: https://kenyanwallstreet.com/kenyas-forex-reserves-surge-to-3-year-high-amid-shillings-stability/
Last week, Kenya increased its reserves increase by a record US$737 million or 8.6% to bring the total to US$9.323 billion.
The jump comes just a week after the International Monetary Fund (IMF) approved the US$606 million disbursement under the US$3.6 billion medium-term programme with Kenya after months of delays.
The current reserves – the highest in 3 years – are enough to cover 4.8 months of imports, both falling above the 4 months statutory requirements and the EAC’s convergence requirement of 4.5 months of import cover.
Read More: https://kenyanwallstreet.com/kenyas-forex-reserves-surge-to-3-year-high-amid-shillings-stability/
The Kenyan Wallstreet
10 Nov, 07:20
The Kenyan Wall Street recently sat down with Bongani Sithole, CEO of 54 Collective, one of Africa’s most active early-stage Venture Capital (VC) firms, at the Africa Fintech Summit.
Known for its hands-on approach, 54 Collective goes beyond simply providing capital, actively helping startups navigate the complexities of scaling across Africa.
Bongani shared that their vision is truly pan-African—aiming to be active in all 54 countries “…to help entrepreneurs see the whole continent as an opportunity to build and serve customers,” he explained.
https://kenyanwallstreet.com/bongani-sithole-on-54-collectives-vision-for-vc-in-africa/
Known for its hands-on approach, 54 Collective goes beyond simply providing capital, actively helping startups navigate the complexities of scaling across Africa.
Bongani shared that their vision is truly pan-African—aiming to be active in all 54 countries “…to help entrepreneurs see the whole continent as an opportunity to build and serve customers,” he explained.
https://kenyanwallstreet.com/bongani-sithole-on-54-collectives-vision-for-vc-in-africa/
The Kenyan Wallstreet
09 Nov, 10:21
Kenya is standing at a critical economic crossroads as the government unveils a fresh series of tax reforms and policy measures to ease economic pressures, boost growth, and restore public trust.
The Ministry of Finance’s recent announcement on the Tax Laws Amendment Bill 2024 signals a shift in strategy, setting the stage for what could be a fiscal overhaul. The Treasury’s approach is notably different this time.
https://kenyanwallstreet.com/kenyas-taxing-times-balancing-economic-recovery-and-tax-revenue/
The Ministry of Finance’s recent announcement on the Tax Laws Amendment Bill 2024 signals a shift in strategy, setting the stage for what could be a fiscal overhaul. The Treasury’s approach is notably different this time.
https://kenyanwallstreet.com/kenyas-taxing-times-balancing-economic-recovery-and-tax-revenue/
The Kenyan Wallstreet
09 Nov, 08:05
Williamson Tea and Kapchorua Tea have both seen significant reductions in profit after tax for the half year ended September 2024 with Williamson sliding to loss-making territory.
- While both Williamson Tea Kenya Plc and Kapchorua Tea are listed at the Nairobi Securities Exchange, Williamson is the majority shareholder of Kapchorua, owning 39.56% of the company.
- Williamson Tea made a KSh 122.4 million loss in the 6 months to September – a 125.7% decline from a profit of KSh 477.1 million in the same period 2023.
- Kapchorua’s net profit declined 91.6% to KSh 18.2 million from KSh 218.1 million recorded a year prior.
https://kenyanwallstreet.com/williamson-kapchorua-profits-drop-significantly-in-half-year-results/
- While both Williamson Tea Kenya Plc and Kapchorua Tea are listed at the Nairobi Securities Exchange, Williamson is the majority shareholder of Kapchorua, owning 39.56% of the company.
- Williamson Tea made a KSh 122.4 million loss in the 6 months to September – a 125.7% decline from a profit of KSh 477.1 million in the same period 2023.
- Kapchorua’s net profit declined 91.6% to KSh 18.2 million from KSh 218.1 million recorded a year prior.
https://kenyanwallstreet.com/williamson-kapchorua-profits-drop-significantly-in-half-year-results/
The Kenyan Wallstreet
08 Nov, 16:38
The Communications Authority of Kenya (CA) has directed telecommunications companies to “use all available mechanisms to suspend the operation of Telegram in Kenya” to curb exam cheating.
Telegram users begun noting restrictions on the platform earlier this week on various networks.
In a letter addressed to the CEOs of Safaricom, Telkom Kenya, and Jamii Telecom and the Managing Director of Airtel Kenya, and dated October 31st 2024, the regulator said that the temporary suspension was because the platform “is being misused to perpetuate criminal activities, including compromising on the integrity of the ongoing national examinations.” https://kenyanwallstreet.com/regulator-directs-kenyan-telcos-to-suspend-telegram-again/
Telegram users begun noting restrictions on the platform earlier this week on various networks.
In a letter addressed to the CEOs of Safaricom, Telkom Kenya, and Jamii Telecom and the Managing Director of Airtel Kenya, and dated October 31st 2024, the regulator said that the temporary suspension was because the platform “is being misused to perpetuate criminal activities, including compromising on the integrity of the ongoing national examinations.” https://kenyanwallstreet.com/regulator-directs-kenyan-telcos-to-suspend-telegram-again/
The Kenyan Wallstreet
08 Nov, 13:26
The Kenya Revenue Authority (KRA) announced during the Taxpayers’ Day Celebrations that it collected KSh 10 billion from crypto dealers in the financial year ended June,
The authority is planning to revamp its taxation framework for digital assets to capture KSh 60 billion in taxes from the Cryptocurrency sector this financial year.
https://kenyanwallstreet.com/taxman-eyes-ksh-60bn-from-crypto-dealers/
The authority is planning to revamp its taxation framework for digital assets to capture KSh 60 billion in taxes from the Cryptocurrency sector this financial year.
https://kenyanwallstreet.com/taxman-eyes-ksh-60bn-from-crypto-dealers/
The Kenyan Wallstreet
08 Nov, 12:45
The Kenya Revenue Authority (KRA) surpassed targets in betting tax and excise tax on betting services collections by KShs. 16 million and KShs.50 million respectively in October.
- This is due to the ongoing European major leagues for 2024/25 season (EPL, Laliga, Bundesliga and Ligue 1) among other sporting events which normally attracts more stakes from punters.
- KRA’s October 2024 highlights however shows tax heads from PAYE, Domestic VAT, Excise Duty on money transfer, Excise Duty Domestic recording below target performance.
- PAYE remittance from the private sector had a deficit of Ksh1.2 billion due to a reduction in average monthly cash pay per employee.
https://kenyanwallstreet.com/kra-surpasses-october-targets-on-betting-services-as-paye-dwindles/
- This is due to the ongoing European major leagues for 2024/25 season (EPL, Laliga, Bundesliga and Ligue 1) among other sporting events which normally attracts more stakes from punters.
- KRA’s October 2024 highlights however shows tax heads from PAYE, Domestic VAT, Excise Duty on money transfer, Excise Duty Domestic recording below target performance.
- PAYE remittance from the private sector had a deficit of Ksh1.2 billion due to a reduction in average monthly cash pay per employee.
https://kenyanwallstreet.com/kra-surpasses-october-targets-on-betting-services-as-paye-dwindles/
The Kenyan Wallstreet
08 Nov, 12:42
For almost two weeks, chaos have rocked the Mozambique following the victory of the FRELIMO candidate, Daniel Chapo, in the concluded presidential elections.
- Amnesty international reported on Wednesday that at least 20 people have been killed by security forces, with hundreds more injured and arrested since the protests began in late October.
- The opposition leader who came second in the presidential election – Venancio Mondlane of PODEMOS – fled the country to South Africa after members of his party were killed on the run up to the announcement of the electoral results.
https://kenyanwallstreet.com/mozambique-post-election-violence-prompts-sadc-crisis-meeting/
- Amnesty international reported on Wednesday that at least 20 people have been killed by security forces, with hundreds more injured and arrested since the protests began in late October.
- The opposition leader who came second in the presidential election – Venancio Mondlane of PODEMOS – fled the country to South Africa after members of his party were killed on the run up to the announcement of the electoral results.
https://kenyanwallstreet.com/mozambique-post-election-violence-prompts-sadc-crisis-meeting/
The Kenyan Wallstreet
08 Nov, 09:18
Liberty Kenya Holdings Ltd has announced the appointment of Rosalyn Mugoh as Managing Director of Heritage Insurance Company Kenya Limited, effective immediately following regulatory approval.
With over 14 years of executive experience in the insurance and financial services sectors, Mugoh brings a proven track record in commercial management, strategic business growth, and client relations.
Her deep industry expertise and leadership vision are expected to propel the company toward continued success and set a strong foundation for future growth.
"She steps into the position with a wealth of industry knowledge and leadership expertise that positions Heritage for continued growth and innovation," the company said in statement.
Congratulations! 👏
With over 14 years of executive experience in the insurance and financial services sectors, Mugoh brings a proven track record in commercial management, strategic business growth, and client relations.
Her deep industry expertise and leadership vision are expected to propel the company toward continued success and set a strong foundation for future growth.
"She steps into the position with a wealth of industry knowledge and leadership expertise that positions Heritage for continued growth and innovation," the company said in statement.
Congratulations! 👏
The Kenyan Wallstreet
08 Nov, 08:58
Africa will host the majority of new discoveries in the oil and gas sectors, a senior partner at energy intelligence firm Rystad Energy said at the start of Africa Energy Week in Cape Town earlier this week.
In the past five years, discoveries on the continent have introduced about 300 million barrels annually.
Uganda, for example, has an estimated 6.5 billion barrels of proven oil reserves, with 1.4 billion estimated to be viably recoverable.
Libya, Nigeria, Algeria, Angola, Sudan, Gabon, Congo, and Equatorial Guinea also all have oil reserves estimated at above 1 billion barrels each.
Read More: https://kenyanwallstreet.com/africa-will-be-the-last-frontier-for-new-discoveries-through-2060-rystad-energy/
In the past five years, discoveries on the continent have introduced about 300 million barrels annually.
Uganda, for example, has an estimated 6.5 billion barrels of proven oil reserves, with 1.4 billion estimated to be viably recoverable.
Libya, Nigeria, Algeria, Angola, Sudan, Gabon, Congo, and Equatorial Guinea also all have oil reserves estimated at above 1 billion barrels each.
Read More: https://kenyanwallstreet.com/africa-will-be-the-last-frontier-for-new-discoveries-through-2060-rystad-energy/
The Kenyan Wallstreet
08 Nov, 07:23
Kenyan Micro, Small and Medium Enterprises (MSMEs) have shipped the first exports of assorted products to South Sudan, Zambia and DRC under the African Continental Free Trade Area (AfCFTA) Framework in an initiative dubbed TradeConnect.
Over the next 12 months, the initiative aims to mobilise and transport 1000 containers of diverse goods worth $1.2million across the continent.
The Government hopes that the TradeConnect initiative will improve Kenya’s export by 10 per cent annually and cut logistics nightmare to the exporters by 30 per cent.
Read More: https://kenyanwallstreet.com/kenyan-msmes-ship-first-exports-under-afcfta-to-zambia-drc-south-sudan/
Over the next 12 months, the initiative aims to mobilise and transport 1000 containers of diverse goods worth $1.2million across the continent.
The Government hopes that the TradeConnect initiative will improve Kenya’s export by 10 per cent annually and cut logistics nightmare to the exporters by 30 per cent.
Read More: https://kenyanwallstreet.com/kenyan-msmes-ship-first-exports-under-afcfta-to-zambia-drc-south-sudan/
The Kenyan Wallstreet
07 Nov, 14:39
The number of Pochi la Biashara tills more than doubled in the 6 months to September, to 869,020 from 405,200 as of September last year.
The value of transactions via Pochi la Biashara increased by 226.6% to KSh 78.52 billion in the half year, steering the Pochi revenues up to KSh 0.9 billion from KSh 0.3 billion in 2023.
Transactions grew 253% to 557.6 million from 157.9 million a year earlier with revenues contributing 3.4% to business payments.
https://kenyanwallstreet.com/safaricoms-pochi-la-biasharas-usage-doubles-amid-reversal-fears/
The value of transactions via Pochi la Biashara increased by 226.6% to KSh 78.52 billion in the half year, steering the Pochi revenues up to KSh 0.9 billion from KSh 0.3 billion in 2023.
Transactions grew 253% to 557.6 million from 157.9 million a year earlier with revenues contributing 3.4% to business payments.
https://kenyanwallstreet.com/safaricoms-pochi-la-biasharas-usage-doubles-amid-reversal-fears/
The Kenyan Wallstreet
07 Nov, 14:25
Bolt is committing Sh14 billion over the next three years to raise awareness of its safety features and implement proactive measures designed to prevent safety incidents before they arise.
Central to this commitment is Bolt’s Safety Team, a dedicated group of over 500 specialists and experts working tirelessly to achieve Bolt’s safety objectives. Located at Bolt’s headquarters in Tallinn, these Safety Experts are highly trained in product development, engineering, and operational strategies to address some of the most complex challenges in ride-hailing.
Through this substantial investment, Bolt aims to deliver a safer experience for riders and drivers alike, setting new standards in ride-hailing safety.
Read More: https://kenyanwallstreet.com/bolt-unveils-safety-campaign-with-a-commitment-of-ksh-14bn-over-three-years/
Central to this commitment is Bolt’s Safety Team, a dedicated group of over 500 specialists and experts working tirelessly to achieve Bolt’s safety objectives. Located at Bolt’s headquarters in Tallinn, these Safety Experts are highly trained in product development, engineering, and operational strategies to address some of the most complex challenges in ride-hailing.
Through this substantial investment, Bolt aims to deliver a safer experience for riders and drivers alike, setting new standards in ride-hailing safety.
Read More: https://kenyanwallstreet.com/bolt-unveils-safety-campaign-with-a-commitment-of-ksh-14bn-over-three-years/
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