Author: Victor Adar

Agricultural company, Kakuzi Plc has confirmed plans to double avocado exports to China following an engagement with Dalian Yidu Group, a major Chinese importer of fresh fruits and vegetables.The Nairobi Securities Exchange (NSE) listed firm recently hosted a high-powered delegation from the Dalian Yidu Group at its Makuyu, Murang’a County, orchards and packhouse, who were in the country on a three-day familiarization visit. Speaking when he conducted the tour, the firm’s managing director Chris Flowers said the company is all set to enhance its exports to China once the harvest season opens late next month. The company, Mr Flowers said,…

Safaricom Investment Co-operative (SIC) shareholders have approved a Sh176.9 million dividend payout at the 14th Annual General Meeting (AGM). This translates to 7% per share dividend up from 4.69% per share paid in 2021. The pay-out comes after the investment society posted a Sh542.9 million gross profit, compared to Sh396.3 million posted in 2021. The growth in profit is attributed to an increase in land revenue that grew by 92% to Sh1.8 billion up from Sh949.8 million and housing revenue that grew by 15% to Sh86.7 million up from Sh75.3 million realized in 2021. “Our financial performance has improved across all…

The construction of the proposed Mombasa – Nairobi (A8) expressway project by Kenya National Highways Authority (KeNHA) could take five years to complete and work will commence upon completion of studies, designs, negotiation, and closure of all financing arrangements. KeNHA indicates that the contract for construction of the highway has not yet been awarded to any entity. The scope of work and source of financing will also be determined once all studies and the necessary arrangements are concluded. “At this stage it is not possible to estimate the cost of the project until the designs are complete and agreed upon…

Real estate developer, Superior Homes (Kenya) and Islamic bank Gulf African Bank, have signed a partnership that will enable home buyers to access mortgage financing at 11.75%. The partnership will see investors seeking to buy housing units developed by Superior Homes Kenya, including Green Park in Athi River and Pazuri at Vipingo in Kilifi County, access mortgage financing within 48 hours and enjoy up to 90% financing from the Shari’ah compliant bank, with a flexible financing repayment period of up to 20 years. Superior Homes CEO Shiv Arora noted that the partnership was timely and will help boost homeownership dreams…

Kenya’s economy faces a slow down on the back of commodity price shocks resulting from the war in Ukraine, with the enduring effects of the Covid pandemic and drought further worsening the situation.   Since the start of the year, the government put in place a fuel subsidy to help reduce the fuel prices, and provide reprieve to citizens. The subsidy, although welcome, came at a cost: it put immense pressure on the country’s finances, leaving the government with few options by way of spending. President William Ruto has since scrapped the subsidy, which his government has termed unsustainable. Already,…

BY VICTOR ADAR Mobile phones are biggest disruptor at the moment, and provides the greatest opportunity as radio continues to dominate with an increase in the numbers of niche and community stations, a new report says, raising concerns on whether print media, which has slowly been transitioning to the digital space, will keep pace. Conducted between April and May this year with a national sample of 10,000 across all the 47 counties, and published in June, the “Kenya Media Establishment Survey 2022” further notes that the mobile device has been the major disruptor in the media landscape with an increase…

The Judiciary has taken a critical step forward to fulfill its mandate of ensuring that there is a court in every sub-county by the establishment of Kabiyet law courts funded by the Mosop Constituency, National Government Constituency Development Fund (NG-CDF). According to Chief Registrar of the Judiciary (CRJ) Anne Amadi, Kabiyet is the sixth to be unveiled under the funding of the NG-CDF and the second in Nandi County after Tinderet Law Courts bringing the total number of courts in the county to three. “The Judiciary will endeavor to match the beauty of the building with excellence in service delivery,”…

Kenswitch Kenya started in 2002 to provide lenders with a shared payment infrastructure. Since then, the company has worked closely with the Central Bank of Kenya (CBK) in driving the National Payments Agenda. In mid-June this year, the organization unveiled a new corporate identity to expand access to digital payment solutions. Karimi Ithau, who was recently appointed as the firm’s managing director, spoke to Victor Adar about the critical role digital solutions play, particularly at a time when physical contact is undesirable. The uptake of digital and online payments has risen over the years. What role do Payment Service Providers…

Seven health facilities are set to help administer a single dose of Johnson & Johnson jab at no cost to boost Government efforts for the country to reach herd immunity. Health facilities approved by the Ministry of Health to conduct the exercise include Avenue Hospital, Gertrude’s Children’s Hospital, Meridian Hospital, MP Shah Hospital, Metropolitan Hospital, Karen Hospital, and Nairobi Women’s Hospital. The Kenya Private Sector Alliance (KEPSA) has outlined 55 locations for vaccinations for private-sector employees, their families, and neighbouring communities. The first phase of the vaccination effort runs from September 13 to October 8, 2021. “All persons being vaccinated…

Taz Technologies, the Kenyan startup behind digitised mail service technology application, MPost, plans to speed up its expansion into the Sub-Saharan region to tap into opportunities presented by the implementation of the Africa Continental Free Trade Agreement. During a podcast organized by the International Trade Centre, a joint agency of the United Nations and the World Trade Organisation, Twahir Mohamed, the company’s CEO openly talked about venturing into Uganda, South Africa, Rwanda and Burundi in their first expansion phase. “We have already closed an agreement with Uganda and we are currently in talks with the South African Post Office, with potential of having an…