Bolt Food has been making headlines recently. While the feature is closing shop in Nigeria and South Africa, the company is rolling out a new game-changer in Kenya – Scheduled Orders. What’s the Buzz? Bolt Food’s Scheduled Orders feature allows customers to pre-order meals, even when restaurants are fully booked, closed, or when couriers are … Read more
Overview: FAO Warns of Below-Average Cereal Production The Food and Agriculture Organization (FAO) has raised concerns about below-average cereal production in the East African region. Erratic rainfall patterns and insecurity are cited as key factors affecting the 2023 main season cereal crops. Mixed Production Prospects in Northern Subregion In the northern parts of the subregion, … Read more
Kenya’s economic landscape is facing a significant shift as the Central Bank Governor, Dr. Kamau Thugge, openly admits that the exchange rate of the Kenya Shilling against major currencies has been artificially overvalued. This revelation comes after years of maintaining a strong exchange rate, leading to severe pressure on the country’s foreign exchange reserves. The … Read more
FinTech Collaboration to Offer Convenient Credit Access for Purchases Lipa Later, a prominent Buy Now, Pay Later (BNPL) FinTech company, has announced a strategic partnership with Mastercard to enhance the adoption of Buy Now, Pay Later solutions across African markets. The collaboration aims to provide customers with convenient credit access, particularly for the purchase of … Read more
At the recent Kauffman Fellows Africa VC Summit in Nairobi, we had the chance to chat with Tjaart Van Der Walt, Director, and co-founder of Tyme, the digital banking platform that’s been making waves. Impressive Milestone: 8 Million Customers Excitingly, Tyme has hit a significant milestone, boasting over 8 million customers on its platform. This … Read more
Kenya’s inflation, as measured by the Kenya Consumer Price Index (KECPI), saw a slight uptick in September, fueled by a general increase in prices across all sectors, according to a statement from the Kenya National Bureau of Statistics released on Friday. In September, year-on-year inflation stood at 6.8%, a marginal rise from the 6.7% recorded … Read more
Kenya’s economic prospects are poised for significant expansion, with a projected GDP growth of 5.6% in 2023, set to elevate to 6.0% in 2024. Fueled by the services sector and a notable surge in household consumption, this optimistic outlook outlines a path toward economic vitality. Navigating Risks and Challenges However, beneath the veneer of promise … Read more
Co-operative Bank of Kenya Plc (COOP) was honoured with the prestigious Best Financier of SMEs in Africa Golden Award at the 2023 Global SME Finance Awards. The award recognizes the bank’s exceptional financial products and services tailored to SME clients, positioning it ahead of competitors in Kenya’s SME financing sector. Global SME Finance Awards 2023: … Read more
Fostering International Investment: President Ruto’s Delegation Heads to the US Kenya’s President, William Ruto, is set to lead a high-profile delegation to the United States for the second US-Kenya Business Roadshow. The delegation, which includes the US Ambassador to Kenya, Meg Whitman, is focused on attracting venture capital (VC) investment into Kenya’s burgeoning tech industry. … Read more
The Kenya Shilling has found itself in a tough spot, securing the sixth position among the worst-performing African currencies this year. Its value has plummeted by over 15% against the US Dollar, reflecting a complex economic landscape. At the close of the latest forex trading session, the Kenya Shilling landed at KSh 145.15 against the … Read more