Tatu City, the 5,000-acre mixed-use Special Economic Zone (SEZ) on Nairobi’s doorstep, has strengthened its workforce with over 100 key appointments in 2023 as businesses and homeowners from Kenya and …
Latest in Market Watch
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The International Finance Corporation (IFC) has concluded and signed an equity investment worth KSh3.08 billion ($20.9 million) into IHS Kenya, a US-owned Southern African Private Equity fund manager that is …
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After months of speculations and accusations against Watu Credit, an Asset FinTech revolutionizing mass-market mobility across Africa through financial inclusion and accessibility, the Senate has cleared the company of any …
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Printcare has chosen ALP West Logistics Park as the site for their upcoming manufacturing and packing plant in Kenya. Scheduled to commence operations in April 2024, this facility aligns with Printcare’s …
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The Lake Turkana Wind Power project, a sprawling expanse of majestic turbines standing tall against the stark horizon, is not merely a collection of giant blades cutting through the air …
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Flutterwave has acquired payment licenses in 13 states in the United States of America as part of the company’s strategies to dominate the remittance market in Africa. Remittance from Africans …
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LG Electronics East Africa has today announced an exciting month-long campaign designed to spread joy and cheer throughout the festive month of December. This special promotion is set to bring …
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This year will be remembered as the moment that we, as individuals, began to harness the power of AI in our daily lives. The last 10 months reflect years of …
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In a pioneering move to foster stronger ties with the diplomatic community. The event served as a pivotal platform to discuss collaborative efforts aimed at enhancing trade linkages, promoting economic …
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African Export-Import Bank (Afreximbank) announces that the third Intra-African Trade Fair (IATF2023) held in Cairo from 9 to 15 November witnessed the conclusion of business deals and transactions valued at …
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Tatu City has been identified as a model for Environmental, Social, and Governance (ESG). During the recent 2023 Africa Economic Zones Organization (AEZO) SEZ Annual Meeting in Morocco, Tatu City …
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British International Investment (BII), the UK’s development finance institution and impact investor, today announced $5 million in debt funding for BasiGo Ltd., Africa’s leading Electric Bus solution provider. The funding …
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Business conditions in Kenya remained in a steep decline halfway through the final quarter of the year according to the latest PMI® survey data, amid sizeable falls in output, new …
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Kenya Wine Agencies Limited (KWAL) has revamped one of its iconic brands, Kibao Vodka, by repositioning it as an aspirational brand to meet the ever-evolving consumer tastes, in line with the company’s …
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Glovo has released its annual report “Glovo Delivered” showing key insights and trends derived from an in-depth analysis of user consumption habits in the app throughout 2023. Kenyan Taste Experiences …
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Family Bank Group has posted a KES. 3.02 billion Profit Before Tax for the period ended 30 September 2023. During the period, total assets increased to KES 140.97 billion a …
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Premier Bank Kenya is elated to announce the opening of the Baraka Bazaar branch in Eastleigh, a vibrant business hub in Nairobi-Kenya. This expansion is in line with the bank’s …
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Java House has launched its first branch in Meru County, signaling the growing influence of the region as an investment, tourism, and business destination. The new outlet, located at the …
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Browns Investments PLC has announced the completion of its acquisition of Kenyan tea estates business James Finlay Kenya from Finlays. The sale was first announced in May 2023, with Finlays …
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RUBiS Energy Kenya has launched RUBiS Gas at an exclusive culinary experience – the ‘Ultimate Chef’s Table’ in collaboration with Pikika Brunch. Pikika Brunch is one of Kenya’s premier cooking festivals that provides an exciting and …
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BK Group has reported a 26.7% jump in net profit to KES20.4 billion for the 9 months ended September 30, driven by robust growth in interest income. BK Group’s total …
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In the past six months, Bolt has discontinued the services of more than 5,000 drivers from its platform due to non-compliance and safety-related matters. Additionally, Bolt has dedicated over 20 …
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BK Group Plc investors are set for an early Christmas gift after the board approved an interim dividend payout of KES1.05 per share. The dividend disbursement will be made just …
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Absa Bank Kenya PLC has reported net earnings of Kshs.12.3 billion for the nine months ended 30 September 2023, a 15% increase over the same period last year, driven by …
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Property developer, Mi Vida Homes, has commenced construction of its three key projects, namely Amaiya and 237 GC anchored within Nairobi’s Garden City Development and KEZA in Riruta, as it …
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The Board of Directors of Family Bank has announced that Managing Director & Chief Executive Officer Rebecca Mbithi will be transitioning from the bank after a five-year term at the …
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Tanzania’s drive to industrialize its sunflower sector has stumbled for the 2023/2024 growing season on a deal to bulk-source high-yield seeds for the country’s one million sunflower farmers. The deal, …
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Jambojet, Africa’s leading low-cost airline, has announced a new route from Mombasa to Zanzibar, set to commence operations in July 2024. The Mombasa – Zanzibar route comes with the advent …
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The month of November is often referred to as the “Black Friday” month. Some just call it The Black November. It is the only month in a year that most …
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The United Nations Development Program (UNDP), World Bank, and Kenya Investment Authority (KenInvest) have today announced a new partnership to develop and implement an Investment Facilitation Framework and Foreign Direct …
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Africa’s leading integrated communications agency, 3 Verse (3VR) has triumphed in a hotly contested global pitch for East African tech giant Safaricom. The agency was appointed as the lead creative …
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Absa Bank Kenya’s ongoing commitment to making a positive environmental impact through sustainable lending practices was recognized by the Kenya Bankers Association (KBA) during the seventh edition of the SFI …
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In a move aimed at enhancing continuous access to affordable, flexible, and convenient credit amid the ongoing credit crunch, Kenya’s largest non-bank lender by market share, Tala, has introduced a …
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Zimele Asset Management has launched a new digital administrative and investment solution that will not only offer chamas attractive investment returns but will also give the members greater control and …
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The first Special Economic Zone with a gazetted customs control area in East Africa has been launched at the Nairobi Gate Industrial Park tailored towards supporting manufacturing, industry, economic growth, …
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African giant fintech, Flutterwave, has been cleared of all wrongdoing and is now free to operate on the Kenyan market. The good news comes ahead of the company’s plans to …
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Market Watch
Safaricom’s Net Income Ups 10.9% To Ksh 41.6 Billion In Half -Year Ended September 2023
Safaricom (NSE: SCOM) has recorded a strong growth in profitability for the six months to 30th September 2023 with the Kenyan business hitting a double-digit growth in Net income to close …
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The United States Agency for International Development (USAID) awarded BasiGo a USD 1.5 Million grant through its Development Innovation Ventures program. The grant directly supports BasiGo’s pilot program in Kigali …
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HassConsult released the Hass Property Sales and Rental price indices for the third quarter of 2023, revealing a drop in average sales prices of 1.1 percent in the quarter, resulting …
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Fans of LG products in Kenya are set for a delightful surprise as LG Electronics East Africa launches its highly-anticipated Black Friday campaign, which will run for the entire month of November. …
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Kenyan private sector firms faced unprecedented inflationary pressures in October, the latest PMI® survey data showed, driven by a further rise in fuel prices and ongoing currency weakness. Input costs …
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Consolidating on its recently released second-quarter performance, Africa’s Global Bank, United Bank for Africa (UBA) Plc, has again announced a splendid performance in its unaudited financial results for the third …
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Pwani Oil has launched its latest innovation, Sawa Milking Jelly, an all-natural and preservative-free product that offers the dual benefits of skincare and milking. This groundbreaking addition to the Sawa …
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The Government of Kenya has temporarily stopped the export of avocados from the country starting this Friday to allow the fruits to mature after allegations that some traders were exporting …
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The 6th Edition of the Changamka Kenya Shopping Festival has officially kicked off at the Kenyatta International Conference Center (KICC) with calls on Kenyans to take advantage of the Festival and …
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Kenchic has attained the Food Safety System Certification for its state-of-the-art processing plant located in Thika. “This certification reaffirms our dedication to ensuring that our customers receive the highest quality …
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Kenya Power and Lighting Company (KPLC) reported a 3.19 billion shillings net loss for the year ended June 2023, blaming it on the sharp rise in financing costs on its …
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With all factors constant, the Kenyan shilling is headed towards the 160-shilling mark against the US Dollar, kicking off the day at 157 shillings, the lowest the local currency has …
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Kenyan businesses are increasingly keeping away from commercial banks from taking loans and paying suppliers, instead opting to negotiate with suppliers and get their products on credit. This is according …
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Kenya’s largest non-bank lender by market share, Tala, has named Annstella Mumbi, as its new General Manager for the Kenya Unit effective immediately, making her one of the small number …
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Miraa traders will be stopped from transporting the product using pick-ups, proboxes, and motorbikes if the new proposed legislation that is pending before the Senate becomes law. In a move …
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A few days after the National Transport and Safety Authority (NTSA) said that it might not renew the operating license for Kenya’s taxi-hailing app, Bolt for mistreating drivers through poor …
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Singer and businesswoman Akothee has called out Absa Bank Kenya for failing to update her on an ongoing case where a man stole more than 700,000 shillings from her business …
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Market Watch
UBA Kenya Pioneers Introduction Of Braille Account Opening Forms For Visually Impaired Customers
United Bank for Africa (UBA), has launched the UBA Braille Account Opening Form, a first-of-its-kind initiative in Kenya, designed specifically to cater to the financial needs of the visually impaired. …
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Sahimiye Foundation has called on De La Rue, the world’s biggest printer of banknotes, to cancel a contentious $9.6 million contract to print 380 billion SL shillings for the Somaliland …
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Stanbic Bank held the inaugural East Africa Business Summit at the Muthaiga Golf Club in Nairobi, Kenya. Under the theme “The Case for Economic Optimism for East Africa,” the event …
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UBA Kenya, a subsidiary of the United Bank for Africa (UBA) Group, partnered with the Nigerian High Commission in Kenya during the inaugural Nigeria in Kenya Business Roundtable event. This …
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The Kenya Association of Manufacturers (KAM) has today launched the 6th edition of the Changamka Shopping Festival set to take place in Nairobi at the Kenyatta International Conference Centre (KICC), …
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Tatu City has teamed up with Equity Bank Kenya to offer financing solutions for property purchase and construction within Tatu City. Equity Bank Kenya will offer a comprehensive range of …
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Market Watch
Maiyan Luxury Resort To Change Name To Sarova Maiyan Nanyuki In Sarova’s New Expansion Drive
Sarova Hotels & Resorts, Kenya’s leading indigenous hospitality group, has announced its latest addition to the Sarova family after signing a franchise agreement with Maiyan Luxury Resort located in Nanyuki, …
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Moody’s Investors Service (Moody’s) has affirmed the East African Development Bank’s (EADB) Baa3 long-term issuer rating and maintained a stable outlook. The rating affirmation reflects the EADB’s strong capital position, …
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Old Mutual Holdings PLC has recorded a KES 0.2 billion profit before tax for the half-year period ended June 30, 2023. The profit is an improvement from a loss before …
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Kenya’s largest Sacco in both assets and dividends paid, Stima Sacco, has been awarded as the best Sacco in the country in automotive financing. The award was conferred at the …
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Old Mutual Group has appointed Loreen Makwanya as its new Managing Director, to head its Life Insurance business. Loreen brings to the new role a wealth of experience, having worked …
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Air-France KLM group airline expects Available Seats per Kilometer (ASK) among its airlines to go back to 2019 levels from 2024. This follows an increase in passenger capacity in the …
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Sophos, a global leader in innovating and delivering cybersecurity as a service, today released findings on a major shā zhū pán (pig butchering) operation utilizing fake trading pools of cryptocurrency …
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Kenyans living in the US stand to gain from a new banking product that allows users to earn interest and pay reduced fees on international remittances. The new product dubbed …
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Old Mutual Kenya (OMK) has opened a second full-suite branch in the coastal city of Mombasa, as part of a business strategy hinged on providing integrated solutions addressing customers’ financial …
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Flutterwave, Africa’s largest payment service provider, has revealed that it is planning to pump at least 7.3 billion shillings into the Kenyan market as soon as its license to operate …
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Konza Technopolis Development Authority (KoTDA), the agency mandated to implement the Konza Technopolis project, has today announced the appointment of its CEO, Mr. John Paul Okwiri. John Paul Okwiri is …
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Britam General Insurance has launched an Aviation insurance solution that will provide cover for individuals and businesses engaged in the aviation Industry. The solutions include Crew Personal Accident Cover, Airport …
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The August Stanbic Bank Kenya PMI pointed to a slight improvement in the health of the private sector for the first time in seven months, as output and new orders …
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Paint manufacturer Crown Paints (Kenya) Plc has appointed Richard Muturi as the Group Chief Operating Officer (COO), effective 15th August 2023. Muturi has over 27 years of experience in the fast-moving …
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BK Group has reported a 30.3 percent jump in half-year net profit to KES4.4 billion, driven by a strong growth in interest and transaction income. The Rwanda Stock Exchange and …
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Integrated financial services firm, Britam Holdings Plc, has today announced a profit before tax of Kshs 2.38 billion for the half year period ending 30 June 2023. The profit almost …
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CIC Insurance Group Plc is pleased to release our 2023 half-year results based on the new IFRS 17 reporting standards. The IFRS 17 standard provides consistent principles for all aspects …
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Kenya Reinsurance Corporation Limited (Kenya Re) has today reported a Profit before Tax (PBT) of Kshs 1.3 billion for the half-year period ending June 30, 2023, registering 9% growth compared …
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Family Bank Group has posted a KES. 2.0 billion Profit Before Tax in the first six months to 30 June 2023. Family Bank Group’s interest income rose by 18.7% to …
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Flutterwave, Africa’s largest payment service provider is in the process of going public through the issuance of an Initial Public Offering (IPO). Reports from the management indicate that the company …
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M-PESA, Safaricom Ethiopia’s Mobile Financial Services, goes live today three months after receiving the Payment Instrument Issuer License from the National Bank of Ethiopia. In preparation for launch, M-PESA has …
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Long distance transport service provider, Easy Coach had announced that it will no longer ferry fresh, smoked and dried fish, including Omena on their buses due to the discomfort they …
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Galana Kulalu, August 12, 2023…Twiga Foods intends to expand the irrigated acreage at the Galana Kulalu Food Security Project (GKFSP) by up to 20,000 acres. This expansion is expected to …
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The Mitumba sector in Kenya is one of the largest employers in a country whose unemployment rate is beyond 35 percent. The sector employs at least 2.5 million people directly …
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Safaricom (NSE: SCOM) is set to increase M-PESA account limits to KSh. 500,000 following approval from the Central Bank of Kenya. The higher account limit will be effective from Tuesday 15th August 2023 …
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Stanbic Holdings Plc has announced a KES 7.1 profit after tax for the half-year period ended June 2023, attributed to strong revenue and balance sheet growth. Total revenue increased by …
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E-mobility company, BasiGo has announced the introduction of the “E9 Kubwa”, a 36-seater electric bus custom designed for the Kenyan market. The first 2 Kubwa buses have begun pilot testing with …
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As the Nairobi Expressway marks one year since it was opened to the public, it has emerged that at least 60,000 Kenyans are using it on a daily basis. The …
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Africa’s second-largest Sacco in terms of asset base, Stima Sacco has continued to spread its wings across the country with a new branch in Kisii. The new branch is located …
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Uber and Safaricom (NSE: SCOM) have launched a partnership that will see riders across Kenya pay for trips through M-PESA. This follows a collaboration with UberEats that allowed consumers to pay for …
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The price of dry maize is still high in most parts of the country, including Western Kenya Despite this being the harvesting season. Traditionally, during the harvesting season, maize prices …
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WorldRemit, a digital remittances brand within Zepz, releases its third year of global data and findings, to understand how the cost of school supplies impacts families around the world. As …
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Electric bus pioneer, BasiGo, has made a second entry into the African market with the launch of BasiGo Rwanda Ltd., a new entity focused on electrifying the public transport system …
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HassConsult has unveiled the Hass Property price indices for the second quarter of 2023, with property prices stagnating at a 0.5 percent drop in the quarter resulting in a 1.8 …
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Leading edible oils and detergent manufacturer Pwani Oil Limited has announced a significant investment in an ultra-modern Home Care and Personal Care manufacturing plant, the first of its kind in the …
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Demand for professional laundry services in the country is expected to surge by the end of 2023 on account of rapid urbanization, making Kenya’s commercial laundry industry one of the …
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Actis-backed property developer, Mi Vida, has unveiled the Mi Club, a loyalty program designed to reward its clients and encourage referrals. The Company, launched in 2019 to address the shortage …
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Bank of Kigali disbursed Ksh 13.2 billion through its Small and Medium Enterprises (SMEs) center in 10 months to April 2023, pointing to high pent-up demand for funding by the …
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Banseok Industry Company Ltd Country Director Mr. Fredrick Kimani (Right) explains to attendees of the event how the peanut peeling machine works. Banseok Industry Company Ltd in partnership with the …
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CFAO Motors Kenya and Stanbic Bank Kenya have today signed an agreement that will see customers get up to 100% financing, payable within 72 months, for any vehicle under the …
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Kenya’s telecommunication giant, Safaricom, has launched the ‘Gomoka na Go Monthly’ promotion that will see customers get to spin a wheel and win various prizes once they purchase any Go …