Search Results for: economy
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NEWS
Elizabeth Wasunna-Ochwa: How financial institutions can strengthen MSMEs to grow their contribution to the economy
Kenya’s economic foundation unquestionably rests upon its Micro, Small, and Medium Enterprises (MSMEs). As indicated in Sessional Paper Number 5 of 2020 on Kenya Micro and Small Enterprises Policy, these enterprises contribute to 24 percent of Kenya’s GDP, encompass over 90 percent of private sector enterprises, and engage 93 percent of the total labour force in the economy. The MSMEs…
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NEWS
Landmark circular economy event encourages implementing solutions for climate and biodiversity
The 6th World Circular Economy Forum WCEF2022 will take place 6–8 December in Kigali, Rwanda, Africa. This year’s forum will focus on how the circular economy can reduce greenhouse gas emissions, support climate change adaptation, safeguard biodiversity and bring jobs and well-being to our societies. An online briefing for the media will take place on the eve of the Forum, 5 December…
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NEWS
How Public-Private Partnerships are Driving Economic Growth in Kenya
Public-Private Partnerships (PPPs) have emerged as an important tool in accelerating Kenya’s economic development. These partnerships have allowed the government to work with different private entities to deliver infrastructure and services providing the necessary momentum for the country to achieve its economic goals. Over the years, PPPs in Kenya have played an important role in sectors such as energy,…
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BUSINESS
Stanbic Bank Affirms Commitment To Foster Growth Of SMEs In Kenya
Stanbic Bank Kenya has affirmed its commitment to SMEs growth and capacity building through innovative, customized and relevant solutions. The Bank made this announcement during the Kenya Annual Manufacturing Summit & Expo, popularly known as the Changamka Shopping Festival, organized in partnership with the Ministry of Investments, Trade, and Industry. Speaking to the theme of the festival, “Celebrating Kenya’s Manufacturing…
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BUSINESS
List of journalists shortlisted for 2023-2024 Sanlam Group financial journalism awards
Sanlam and Santam, the joint sponsors of the Sanlam Group Awards for Excellence in Financial Journalism, has announced the shortlisted entries for the 2023 awards. A total of 170 entries from 13 countries on the African continent were received for the 2023 competition, the highest number yet in the competition’s 49-year history. Nixon Kariithi, chair of the independent judging panel,…
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LIFESTYLE
Kenyan Men Optimistic of Strengthened Personal Finances by December 2024, Old Mutual Report
Ahead of Father’s Day on Sunday, Old Mutual has released its latest Financial Services Monitor (OMFSM), which reveals that men in Kenya are optimistic about the future, with over 75% confident of strengthened finances in the next six months. The OMFSM is an annual publication that generates key insights on the financial behaviour and attitudes of Kenya’s working population. It…
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WOMEN SPACE
Mastercard Women SME Leaders Awards reveals 2024 winners
Mastercard has announced the winners of the third edition of its Women SME Leaders Awards, celebrating the achievements of women-owned and led businesses across diverse sectors in the Eastern Europe, Middle East and Africa (EEMEA) region. Launched in 2022, the Mastercard Women SME Leaders Awards is the first initiative of its kind to recognize outstanding female entrepreneurs shaping the future…
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SUSTAINABILITY
Kenya to Pilot Indonesian Carbon Data Project
Indonesian tech company Aeroterra & Eldera Matadata Presisi has been selected to execute a pilot project that will assess the value of Kenya’s carbon credit assets. The project’s lead sponsors Banyan Investment Banking & Hedge Fund, a Connecticut-based digital bank, and Quantum Metal Group, announced that they had appointed Indonesia’s Aeroterra & Eldera Matadata Presisi as the technology partner due to its innovative technology. “We have…
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NEWS
Kenya to host the Global Student Entrepreneur Awards
The Kenyan Chapter of the Entrepreneurs’ Organization (EO), the world’s leading peer-to-peer network of successful business leaders, will host its qualifying competition of the Global Student Entrepreneur Awards (GSEA) on Saturday 20th January 2024 at Nairobi Street Kitchen. This year’s Global Student Entrepreneur Awards sponsors include Jubilee Asset Management, Moringa School and Craydel. GSEA is EO’s premier awards program for students…
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NEWS
Kenya setting the pace in EV adoption in Africa
Electric Vehicles (EV) are gaining momentum in Kenya thanks to the government’s National Electric Mobility Plan, which focuses on creating a more green transportation system and rolling out diverse initiatives for sustainable road traffic management. In April this year, Kenya Power released a report that revealed how the country has witnessed increased interest from local and international stakeholders keen on…
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NEWS
Kenya Power Banks On New Strategic Plan To Safeguard Leading Position in Energy Sector
Kenya Power has launched a new Five-Year Corporate Strategic Plan to guide its operations in the medium term as the Company seeks to safeguard its position as the region’s leading electricity utility. The Corporate Strategic Plan 2023/24-2027/28 will drive value creation levers, redefine the Company’s operational business model and explore new growth areas to diversify and deepen revenue streams. “The…
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NEWS
Airtel Africa urges enhanced public-private collaboration for climate action in Africa at COP28
Airtel Africa Group CEO, Segun Ogunsanya, has reaffirmed the importance of an enabling policy environment for sustainable development and climate action in partnership with Africa’s private sector at COP28. Mr. Ogunsanya, a member of the United Nations Global Compact’s African Business Leaders Coalition (ABLC), addressed a distinguished audience at a COP28 side event co-hosted by Airtel Africa and the ABLC. Guests…
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NEWS
New Carrefour Store Opens at Promenade Mall in Mombasa-Nyali
Majid Al Futtaim, which owns the exclusive rights to operate Carrefour in Kenya, announced the opening of its 22nd Carrefour store in the country at Promenade Mall in Mombasa’s Nyali area, providing added convenience and accessibility for customers in the coastal region. The store spans over 1,500 square metres, and aims to cater to the diverse needs of shoppers, offering an extensive…
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NEWS
Nairobi Gate opens first special economic zone in East Africa with gazetted customs control area
Nairobi Gate Industrial Park has launched the first Special Economic Zone (SEZ) with a gazetted customs control area in East Africa. This consolidation will allow businesses operating from Nairobi Gate additional efficiencies including a one-stop shop for regulatory agencies including the Kenya Revenue Authority, Kenya Ports Authority, customs, and the Special Economic Zones Authority (SEZA). Speaking at the launch, Hon.…
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SUSTAINABILITY
[Nigeria] Off-grid solar provider d.light’s revenues surge by 41 percent
d.light, the provider of transformational household products and affordable finance for low-income households, grew its revenues by 41 percent during the first six months of 2023, the company has announced. The results derive in large part from growth of 143 percent in d.light’s business in Nigeria, Africa’s most populous country and its largest economy. d.light’s three-digit growth in Nigeria has…
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NEWS
South Africa to host Airbnb Africa Travel Summit this October
More than 200 policymakers, tourism experts, innovators and changemakers from across the continent are set to gather at the Airbnb Africa Travel Summit in Johannesburg on 24 October to explore, innovate and collaborate on building an inclusive and sustainable tourism industry across Africa. The Summit, hosted by Airbnb, is the second of its kind, and will take place at Victoria Yards…
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BUSINESS
Africa-Singapore economic relations expand with bilateral trade growth at 15% per annum
Economic relations between Singapore and Africa continue to expand, as bilateral trade in goods grew by around 15% per annum between 2019 to 2022, reaching US$14.5 billion in 2022. Singapore companies’ investments in the African continent cumulatively reached US$23.7 billion as at 2021. As testament to the robust interest to participate in Africa’s growth opportunities, five agreements were inked at…
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NEWS
Faulu Bank and GIZ Partner to Unlock Green Financing to 400 Kenyan Farmers
Smallholder Farmers in the dairy and horticulture value chains in Kenya can now access green financing from Faulu Microfinance Bank. This follows the signing of a partnership between the bank and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) as part of the Sustainable Energy for Smallholder Farmers project being implemented in Ethiopia, Kenya, and Uganda. The Bank aims at disbursing KES120…
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NEWS
Opportunities for Africa’s green industrial transformation are rife but efforts are needed in skills development and funding
Jacob’s Ladder Africa, a not-for-profit organisation focused on green workforce readiness, along with the Future of Development Programme at the Oxford Martin School (University of Oxford) hosted a roundtable discussion on green livelihoods and the future of jobs in Africa. The roundtable convened key individuals from academia, industry, international development sector and the youth population to raise key challenges and…
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NEWS
Air France, Official Partner of the 2024 Paris Olympic and Paralympic Games
Air France is the official partner of the 33rd Olympics of the modern era to be held in Paris in 2024. This follows the signing of a partnership between the airline and the Organizing Committee for the Olympic and Paralympic Games (OCOPG) Commenting on the partnership, Air France-KLM Group CEO Benjamin Smith said, “We are proud to extend our partnership…
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