Author: KahawaTungu Reporter

Kenya Commercial Bank (KCB) has received approval from the African Development Bank (AfDB) for a Sh10 billion line of credit. According to reports, the AfDB Board of Directors approved the Sh10 billion which is set to go towards lending to small businesses and youth. The move comes as KCB looks to grow its loan book following the cut down on law capping interest rates. “The funding is aimed at supporting KCB’s lending operations in Kenya especially to corporate businesses, Small and Medium Enterprises (SMEs) as well as projects that are critical to the development of Kenya’s economy,” said AFDB in…

Kenyans are set to benefit more from the Madaraka Express following an announcement that the train will be offering inter-county services starting November 1. According to Kenya Railways (KR), the train will make stops between Mombasa and Nairobi while also offering express services from 3:30 pm. “Yes it is true we have plans to start these operations to cater for more passengers who want a more flexible timeline when travelling between the two cities,” said Transport Secretary James Macharia. The train will make stops at stations in  Athi River, Emali, Kibwezi, Mtito Andei, Voi, Miasenyi and Emali. Read: SGR Or Madaraka Express…

With a high level of uncertainty surrounding the presidential election tourists have been told to take all measures to ensure their security. As a result the government of the United Kingdom has warned against traveling west of Kenya during this time which has seen a lot of violence and protests. “Media report that the governors of Kisumu, Siaya, Homa Bay, Kakamega and Migori have said that elections won’t be allowed to take place in their counties on 26 October. This may trigger further protests. You should avoid traveling around these regions on and around days of planned protests including areas…

The long awaited presidential election is finally here and this time round the Independent Electoral and Boundaries Commission (IEBC) is hoping to fix the mistakes of the August 8 election. The have acquired the assistance of mobile network operators Safaricom, Telkom Kenya and Airtel Kenya to help with the transmission of results. As part of the electoral process the IEBC has equipped result transmission kits with Safaricom SIM cards. This was done in a effort to eliminate mistakes made in the previous election that saw results from polling stations arrive at the national tallying center before scanned copies of Forms 34A…

With the demand for taxi rides across the country, Taxify has introduced an MPESA payment option that will allow their customers to pay directly. Taxify now joins Little on the list of taxi companies that have incorporated the direct MPESA payment. The move was made by the company in an attempt to draw more customers and ease methods of payment. Read: Taxify Unveils Taxify Comfort To Compete With UberSELECT “We are always on the lookout on how to intensely localize the experience of our application across the cities we operate in. We take time to learn what works for each city…

As the country gets set to take part in the re-run of the presidential elections on Thursday, October 26, the Communications Authority of Kenya (CA) and the National Cohesion and Integration Commission (NCIC) have issued a strong statement to social media users. The prolonged electioneering period has left several Kenyans with a degree of uncertainty ahead of the fresh poll. Both the CA and the NCIC released a statement telling Kenyans that they will not condone social media websites that promote and spread hate speech during the election period. “As the 26th October 2017 repeat Presidential election approaches, the attention of…

As Nakumatt continues to sort their current financial situation Tuskys supermarket has stepped up its plans to bail out the retailer chain. A new proposal involving the two retailers could see Tuskys end up with a 51 per cent stake in Nakumatt. “The intention is for Tuskys to take up the majority stake of 51 per cent because that then gives them a measure of control. This preliminary arrangement, once it receives the nod of the regulator will entail, Tuskys taking over management of Nakumatt so that effectively you have good management, you have finances to operate and pay the…

The Government of Kenya has managed to secure a deal with British-based multinational oil and gas exploration company Tullow Oil to construct a crude oil pipeline. The government through the Ministry of Energy has now carried forward their plans to build a pipeline from Lokichar, Turkana to Lamu town. According to reports, the project will be completed over the course of four years and will cost the government around Sh210 billion. Read: Government Introduces Kenya E-Trade Portal To Boost Local, International Trade So far Tullow Oil has discovered 750 million barrels of oil in South Lokichar Basin, Kenya since 2012. “This joint development…

After months of voting football fans across the globe were finally able to watch the FIFA Best Awards 2017 Ceremony unfold. The event which took place at the London Palladium in England Tuesday evening, October 23 and was the second of its kind following the ceremonies split from the France Football’s Ballon D’or. The host of the night was Idris Elba and the ceremony showcased a variety of stars in the British movie and music industry. The ceremony also showcased a variety of global talent from both men and women’s football. Read: Kwese TV Launches Three Day Entertainment Package The award…

Dubai is set to host next months Global Business Forum on Africa, an event that many are highly anticipating. According to reports, the Dubai Chamber of Commerce and Industry will be in charge of the conference which is set to take place on November 1 and 2, 2017. Several African leaders are expected to attend including Presidents Paul Kagame of Rwanda, Danny Faure of Seychelles, Yoweri Museveni of Uganda, Ameenah Gurib-Fakim of Mauritius and Edgar Lungu of Zambia. Read: Political Uncertainty Forces US Firm To Put On Hold Deal With Equity Bank President and CEO of the Dubai Chamber of Commerce, Hamad…

American multinational beverage corporation Coca-Cola has put forward plans to invest in Kenya as they aim to boost product range. According to reports, the company plans on investing $90 million over the course of three years. Coca-Cola is the leading soda provider in Kenya (its largest economy in the region) and is well known for its soft drinks like Fanta and Coke. Read: Botswana Retailer Choppies Plans To Open 40 Stores Across Africa On Tuesday, the company announced that they would be investing the $90 million (SH2.7 billion) over three years through 2018. “It brings the total investment by The Coca-Cola…

As Facebook aims to continuously improve their website the company has announced that they are currently conducting new tests. On Monday, Facebook shared that they are testing a news feed feature for its users that would see their feed separated into two; with one section focusing on the users personal news (Photos, friends) while the other displays business posts (advertisements, celebrity material). The test is currently being conducted in Bolivia, Cambodia, Guatemala, Serbia, Slovakia and Sri Lanka. Read: Political Uncertainty Forces US Firm To Put On Hold Deal With Equity Bank “The goal of this test is to understand if people prefer…

As the October 26 election nears several businesses both local and international will be awaiting the outcome. With a lot of uncertainty surrounding the election many businesses have been forced to hold off on several business deals as they await to see how the country moves forward. Equity Bank is one major Kenyan business to have recently been affected by the prolonged electioneering period. The company had initially planned a partnership with US firm Fenix International but due to the countries current economic situation with the election just a few days away they deal was put on hold. Read: Truecaller Looking…

As the world of sports braces itself for the Fifa World Cup set to take place in Russia next year, many sports fans will be wanting to book their travel tickets ahead of the tournament. Luckily for East Africans, Bunson Travel Service has received approval from Fifa to sell tickets to fans across Tanzania, Ethiopia and Uganda. “Fifa hereby confirms its approval of the exclusive appointment of Bunson on the terms set out in the agreement,” reads a letter from Fifa to Ms Scott. Read: Truecaller Looking To Set Up Headquarters In Africa Bunson Travel Service Managing Director, Julie Scott has encouraged fans…

The National Bank of Kenya’s mobile banking services is set to undergo a system upgrade according to a recent announcement by the bank. The banks mobile application provides customers with a variety of payment options such as National Hospital Insurance Fund (NHIF), utilities and school fees. The upgrade will also aim to provide more security as they continue to expand their services on a digital platform. Read: Naivas Supermarket Launches ‘Naivas Pay’ Payment Network “With this app, we can more easily offer our customers the banking products and services they need to help them reach their financial goals and, at the same…