Britam Holdings Plc has reportedly announced a net loss of 1.6 billion Kenyan Shillings in the six (6) months that ended on the 30th of June 2020. This is a far cry from the net profit of 1.7 billion Kenyan Shillings that was achieved during the same period in 2019. The financial services firm which is listed on the Nairobi Securities Exchange (NSE), saw a loss of 2.3 billion Kenyan Shillings in the first half of 2020 pretax. In the same period, it had recorded an amazing profit of 2.4 billion Kenyan Shillings during the same period in 2019. Britam…
Author: Tobey
GenAfrica Asset Management Limited sometimes referred to as GenAfrica Asset Managers, announced a net profit of 76.1 million Kenyan Shillings at the end of the first half of 2020. This is an increase from the 68.9 million Kenyan Shillings profit recorded in the same period in 2019. The company’s management fee increased from 255.9 million Kenyan Shillings to 275.1 million Kenyan Shillings. Its Total income also boosted from 260 million Kenyan Shillings, to 281.1 million Kenyan Shillings while its profit pretax, also increased to 111.9 million Kenyan Shillings from 101.5 million Kenyan Shillings. Its Total Expenses however, moves up to…
From 5pm today the 22nd of August 2020 all subscribers of telecommunications giant; Safaricom that need to switch from one tariff to the other, obtain their PUK number, carry out a SIM swap or activate a new SIM card, will not be able carry any of that out. This is because Safaricom is will be carrying out a 24-hour upgrade and maintenance that will inadvertently disrupt the smooth running of the above services. The maintenance and upgrade will go on from today, until tomorrow Sunday the 23rd of August 2020 at exactly 5pm. Excerpts from a statement by Safaricom read,…
Renowned Silicon Valley incubator; Founder Institute, is now in Kenya. It launch this new branch with the aim of opening up its vast array of mentors to startups within Kenya. It has also begun accepting applications from startups who are looking to be a part of the Founder Institute’s Nairobi Accelerator. All interested startups can now apply for Founder Institute’s startup via this link: https://fi.co/apply/nairobi/blog Every accepted applicant will go through a number of personality and aptitude tests aimed at assessing the applicants and their ideas, while also identifying high potential applicants. Those who pass, will now benefit from secure…
A number of young people in Kenya who gained employment through the Kenyan government’s stimulus program (called Kazi Mtaani) are reportedly finding it impossible to withdraw any money paid through their mobile money wallets. This is because the mobile lines linked to those mobile money wallets, were blocked as a result of their inability to pay back their Fuliza overdraft loans. Individuals who ae hired thorough the Kazi Mtaani programme, the youth are employed for a total of eleven (11) days. During this employment period, they are paid and at a rate of 455 Kenyan Shillings per day. This is…
East Africa-focused gold producer Shanta Gold has reported completed its acquisition of Canadian miner Barrick Gold’s assets in Kenya. This was achieved by the East Africa focused gold developer, explorer and producer, at a cost of 1.4 billion Kenyan Shillings. The miner which is listed on London AIM made it known on Wednesday the 19th of August 2020 that it will be moving to speed up its production of Gold in the Western part of Kenya. The western part is where Barrick had licenses for the right to mine gold in an area across Vihiga, Kisumu, Siaya and Kakamega that…
On Wednesday the 19th of August 2020 Apple Inc. became the very first United States (US) company to hit the 2 trillion dollar valuation mark. To put it in perspective, it took the company over 40 years to hit its first trillion dollars. Now it took it 2 years to get to 2 trillion dollars. But as impressive as that figure is, Apple Inc. is not the world’s first company to get to 2 trillion dollars. That title belongs to Saudi Arabian Oil and Gas Giant; Saudi Aramco. The company hit the 2 trillion dollar mark in December 2019. Its…
Android TVs have custom versions of Android that was created by Google specifically for TVs. This basically gives users easy and quick access to all of their favorite streaming applications. What this means is that users can use applications like Hulu, Disney+, YouTube, Netflix and others directly from their Android TVs, in addition to other exciting features that are not anywhere else. One of said features is Chromecast which allows users to send images and or videos from the Google photos, to their Android TVs. Android TVs also have Google Assistant which can be accessed via the use of the…
According to the Kenyan Wallstreet, the Kenyan Shilling was today quoted by various commercial banks in the country at 108.25 Kenyan Shillings to the US Dollar (buying) and 108.35 Kenyan Shillings to the US Dollar (selling). This development is being attributed to the huge amount of pressure it has faced against the dollar and has led to the Central Bank of Kenya (CBK) intervening. Observers and analysts alike fear that the Kenyan Shilling would go even lower against the US Dollar soon. A Market Report by Tea Brokers East Africa (TBEA) Limited for the week which ended on the 12th…
American multinational technology company; Apple Inc. has announced the launch of Apple Music 1. Apple Music 1 was formerly the company’s flagship radio station; Beats 1. Alongside the launch of Apple Music 1 in 165 countries the tech giant also launched two new stations. Apple Music Hits which focus on all the favorite songs from the 1980s, 1990s and 2000s and Apple Music Country which as the name implies, will focus on country music. Both stations will showcase numerous exclusive shows from around the globe, with top artists and music hosts. Beats 1 evolved into becoming one of the most…
The Republic of Rwanda made it known it will be replacing its single nation passports, with the East Africa Community (EAC) electronic passports. Rwanda’s immigration department during an announcement revealed that it has started the phasing out of all single nation passports and will be done with the exercise, by June 2021 and added that all applicants should make use of the Rwandan government’s online portal during their e-passport applications. The Director-General of Rwanda’s immigration department made it known that all the single nation passports will be replaced by the Rwanda East Africa Community (EAC) electronic passports by the 27th…
East African giant; Kenya’s passport is now among the top ten (10) strongest passports in Africa. It currently stands at number nine (9). With the Kenyan passport, all users can travel to up to seventy-one (71) countries around the world visa-free. According to the Henley Passport Index of 2020 Kenya, also stands at 72nd in the world alongside Indonesia and the People’s Republic of China. The Henley Passport Index ranks passports all over the world according to access and of course their potency globally. In 2010 the Kenyan passport could only gain entry to 65 countries visa-free, but can now…
The Commissioner General of the Kenya Revenue Authority (KRA); James Mburu’s term has been extended by the Treasury Cabinet Secretary; Ukur Yattani to five (5) years through the addition of two (2) years. With this development, James Mburu who recently completed his three (3) year term, will now serve as the Kenya Revenue Authority (KRA)’s Commissioner General for a total of five (5) years. Before taking on the mantle of leadership at the Kenya Revenue Authority (KRA) in July 2019 (following the retirement of John Njiraini) James Mburu, was the Commissioner of Intelligence and Strategic Operations. A report by the…
According to Tech News Nation the President of the United States of America; Donald Trump, has now signed an executive order which will essentially stop every single business transaction with ByteDance; the Chinese multinational internet technology company which owns TikTok. According to the United States President, “The United States must take aggressive action against the owners of TikTok to protect our national security.” The executive order also reportedly stressed the danger(s) associated with utilizing applications that are in one or the other, linked to the Chinese government stating that, “Data collection (of TikTok) threatens to allow the Chinese Communist Party…
