KCB Pumps Kshs. 120 billion to Support Oil Marketing Firms in Petroleum Imports

KCB Bank Kenya has injected over KShs. 120 billion to support Oil Marketing Companies (OMCs) importing fuel as it seeks to consolidate its support to the energy sector.   The Bank has been facilitating oil importation into the country by financing the oil firms under its portfolio that have won business under the Open Tender System (OTS) through the Ministry of Petroleum and Mining.   This gives the OMCs a strongroom to import refined white oils from multinational oil suppliers for distribution across in Kenya and the wider East African…

ESAK: Investments in the energy sector are a key to ensuring continuity of the sector

The energy sector is a crucial sector in any country’s economy. This is crucial because energy is a key component in powering various sectors, from manufacturing to retail to households. In Kenya the energy mix is made up of various sources of energy- renewable and non-renewable such as wind, solar, water and thermal. With this diverse portfolio there is need to firm up investment in this sector. “One of the reasons why investment in the energy sector is viable in Kenya is due to the immense potential in the sector.…

Mdundo.com to Pay Over Ksh100million to rights holders

Mdundo.com has turned 10 years after years of transformation to a leading music services company. The company provides musicians with a real-time dashboard to control and manage their catalog as well as withdraw earnings from the service. Founded in 2012, the service has a strong focus on creating locally relevant solutions to benefit African musicians and the mass-market music consumers. Mdundo.com was founded in 2012 where it sold music on “scratch card vouchers” similar to airtime purchases from corner-shops but later it became a free service funded by advertising sales. The initial…

I am done planning my family’s End-of-Year Holiday!

There is no holiday bigger than Christmas. It comes at the end of the year, and I do my best to make it special for my family. Every year, we make at least one family trip to a destination. Basically, this gives us 7 days of uninterrupted family time and a whole lot of fun! Planning the trips is never easy, you have to keep raising the bar to make them even more memorable than the last. I fancy myself an expert-family-trip-planner by now, so I have gathered a few…

MentorMe Kenya Creates New Economic Prospects In Sub-Saharan Africa

German-based mentorship programme MentorMe has today announced its launch in Kenya, as part of a wider transcontinental initiative to unlock employment and entrepreneurship opportunities for young people in the country. MentorMe Kenya has partnered with the German Development Cooperation to offer an expansive network of mentors from both Germany and Kenya giving mentees access to an international outlook to the diverse sectors covered in the programme. MentorMe uses a matching software that enables the organization to match over 1000 mentors and mentees according to their needs and career growth requirements.…

Covid_19, Russia-Ukraine War to Impact the African Economy

Africa’s GDP grew by an estimated 6.9% in 2021, revealing positive forward momentum. However, the continent will continue to face uncertainty. The after-effects of the pandemic and the Russia-Ukraine war are projected to impact the African continent’s economic outlook for many years to come. In 2021, about 22 million jobs were lost due to the pandemic, with 30 million people being pushed into extreme poverty. This number is estimated to rise by a further 1.8 million people during 2022. Increased costs, supply chain disruption, and climate change have exacerbated the…

Samsung Electronics Announces New Environmental Strategy

Samsung Electronics Co., Ltd. today announced its new environmental strategy, a comprehensive effort to join global efforts to tackle climate change. It includes commitments to achieve enterprise-wide net zero carbon emissions and plans to use more renewable energy, as well as to invest in and research new technologies to develop energy-efficient products, increase water reuse and develop carbon capture technology. At the heart of the new commitment is achieving net zero carbon emissions (Scope 1 & Scope 2) for all operations in the Device eXperience (DX) Division by 2030, and…

Kakuzi Readies For Second Avocado Shipment To China As Demand Sours.

Local agribusiness firm Kakuzi Plc has secured pre-shipment approvals from the Kenya Plant Health Inspectorate Service (KEPHIS) for its second fresh avocado shipment to China. This time around, Kakuzi will be shipping several 20-foot container loads to China by sea before the end of this week as demand for quality Kenyan avocado fresh fruits continues to grow. Kenya is currently enjoying a market advantage as it is the only approved African source market for fresh Avocado fruits in China. Alongside Kenya, China counts several leading producers, including Mexico, New Zealand,…

Mdundo Commits to make KES 100m Payouts to Rights in Holders in the Current Financial Year

Mdundo.com has turned 10 years after years of transformation to a leading music services company. It was founded in 2012 where it sold music on “scratch card vouchers” similar to airtime purchases from corner-shops but later it became a free service funded by advertising sales. Speaking during the presser the mdundo’s CEO, Mr. Martin Nielsen said that they are happy for their growth in the market. The initial advertisers on the service were Airtel, Coca-Cola and Microsoft but today the service works with many pan-African FMCG brands and banks across the…