IGAD Forum to Support Regional Infrastructure Masterplan Implementation

The African Union High Representative for Infrastructure Development Rt. Hon. Raila Amolo Odinga today opened a 3-day Development Partners Roundtable on IGAD Regional Infrastructure with a rallying call on governments in the Horn of Africa Region to reverse the slow pace of action on infrastructure – the most important enabler of trade among African nations. Themed Interconnecting Member States for Regional Integration and Trade Competitiveness, the roundtable aims to secure support for regional Infrastructure to promote economic development and integration as it offers unrivalled opportunity for the development partners to exchange views and network…

StarTimes expands branch network to more Counties

Pay Television Company StarTimes Media has rolled out major expansion plans aimed at driving service delivery closer to subscribers across major counties. The move will see increased investment in the set up and operation of business halls across five more counties including Kajiado, Kitui, Taita Taveta, Tana River and Bungoma. The company has also grown its footprint within the capital Nairobi with the opening of a new business hall located at Solar House along Aga Khan Walk which will ease pressure on the other outlets within the central business district.…

Inaugural country-level research unpacks the opportunity for climate philanthropy in Africa

… Business leaders, the development finance community and governments in Africa require deep insight into the challenges and opportunities where philanthropic investment can support countries that are most vulnerable to the impacts of the climate crisis. The entry points for six countries were revealed today, in new reports providing political economy analysis of six countries – Nigeria, South Africa, Kenya, Ethiopia, Ghana and Senegal – published by Africa Practice and ClimateWorks Foundation. The inaugural research, entitled Introductory Political Economy Analysis of the Climate Philanthropy Space, assesses the political, institutional and sector-driven…

Absa Bank finances Ksh1.2 billion vehicle leasing deal for National Police Service

Absa Bank Kenya PLC has signed a tripartite financing agreement with CMC Motors Limited and Avenue Lease and Rentals to supply 240 vehicles to the National Police Service (NPS) under the ongoing government’s vehicle leasing initiative. Under the tripartite agreement, the single cab Ford Rangers will be leased to the NPS for a four-year period by Avenue Lease and Rentals. Absa will provide KES1.2 billion in financing to Avenue Lease and Rentals to acquire the vehicles from CMC Motors who will also service and maintain the units over the four-year…

The European Investment Bank launches report on impact of COVID-19 on African Banks

By Debbie Moraa The European Investment Bank (EIB) today published a unique analysis of the impact of COVID-19 on financing across Africa. The Finance in Africa 2021 report surveyed 78 leading banks and financing institutions active across sub-Saharan Africa to examine the impact of the pandemic on banking and business lending, investigate how Africa’s financial sector is harnessing the digital revolution and detail the challenges and opportunities of green finance for banks. Speaking during the online event, Thomas Östros, European Investment Bank Vice President noted that Africa’s banks are crucial…

Emirates Announces Major Retrofit Programme 105 Aircraft, To Provide Best-In-Sky Customer Experiences

Emirates has announced that it will retrofit 105 of its modern wide-body aircraft with its Premium Economy product, in addition to other cabin enhancements. The 18-month retrofit programme, scheduled to begin at the end of 2022, will be entirely conducted at Emirates’ state-of-the-art Engineering Centre in Dubai. It will see 52 Emirates A380s and 53 Boeing 777s fitted with a new cabin class – the airline’s highly lauded Premium Economy. The airline is also considering installing a brand new Business Class product on its Boeing 777 aircraft, with customised seats in a…

What to Consider When Buying Land

By Geoffrey Kiragu, Founder and Diector, Lesedi Developers Individuals new to real estate are often puzzled when they discover that location is an imperative consideration when buying property. The idea of location has been so ingrained in the minds of many Kenyans that sometimes one cannot help but wonder if it is the property that matters more or where it is sited. Well, both are significant but it is the location that matters more. For instance, areas close to urban centers are highly valued as compared to others. This idea…

StarTimes boosts subscriber offer with bouquet upgrade

Pay Television Company StarTimes Media has today rolled out an aggressive subscription renewal incentive across its terrestrial and satellite television bouquets that will see subscribers enrolled to the platform enjoy two months access to higher bouquets at the cost of a lower bouquet. The company offers a choice of three bouquets on each platform with Nyota, Basic and Classic bouquets available on terrestrial at a monthly cost of Ksh.299, Ksh. 599 and Ksh. 899 respectively while Nova, Smart and Super are available on the satellite platform at a monthly cost…

LG Unveils AI-Powered Washing Machine in Kenya

Consumer Electronics provider LG has announced the introduction of the new Artificial Intelligence (AI) powered 2021 Vivace 950 (V950) Washing machine into the Kenyan Market. This follows a rise in demand for home appliances in the country attributed to the adoption of the work-from-home model brought on by the Covid-19 pandemic. This is besides a significant growth in the working women population that is driving the demand for appliances such as Washing Machines and Refrigerators that assists women with household chores. Commenting on the launch, LG Electronics East Africa Managing…

Faulu Bank records 31 per cent growth in bancassurance

Faulu Microfinance Bank has seen significant growth in its bancassurance business following successful automation of its insurance sales last year. The Bank shrugged off a tough operating environment due to the coronavirus pandemic, to record increased uptake of insurance products through its bancassurance unit. Overall sales from the bancassurance agency have so far hit Ksh 327 million this year, a 31 per cent growth compared to a similar period last year, driven by strong demand across the general and life insurance segments, as well as automation of services to boost…