There has been a drop in foreign investors at the Nairobi Securities Exchange as more capital shifted abroad. PHOTO | FILE The declaration led to a decrease in foreign investor participation by 13.66 percent, and a subsequent net outflow of $37 million, accounting for 42.16 percent of total net foreign outflows in 2021. In the […]
Nairobi Securities Exchange (NSE) on the trading floor at the Exchange building in Nairobi on August 26, 2020. PHOTO | SALATON NJAU | NMG Foreign investors at the Nairobi Securities Exchange (NSE) slowed down their selling activity in January compared to the previous four months which were characterised by profit-taking on blue chip stocks. NSE […]
PAN African music streaming service, Mdundo, has announced a 22 percent growth in its user base in the last quarter of 2021. The platform recorded 20 million users at the end of further quarter, up from 16.3m/-, in the third quarter and that is driven by strong demand for an easy-to-use music service coupled with […]
M-PESA is making its way to Ethiopia, the State Minister of Ethiopia’s Ministry of Finance has confirmed. Safaricom received its first license of operation in Ethiopia last year, but it did not allow for the setting up of the M-PESA mobile financial service. The government of Ethiopia suspended bids for a second license of operations […]
Showmax 1 Showmax and Safaricom have partnered to offer customers two months of streaming for the price of one. During the launch of this offer, representatives of both firms said the partnership will make it easier for Kenyans to pay for and watch their favourite shows on their mobile devices. The streaming company offers African […]
Safaricom has revealed they are working on a smart vehicle tracking system. The Internet of Things Telematics solution appears to be the company’s next frontier as it expands its reach in the tech industry. The first pilot for the service will be done during the East African Safari Classic Rally . Raaji Bharij’s Ford will […]
KEY POINTS The market is currently trading at a price-to-earnings ratio (P/E) of 11.4x, 11.6 percent below the historical average of 12.9x, and a dividend yield of 3.5 percent, 0.5 percentage points below the historical average of 4.0 percent. During the week, the equities market recorded mixed performance, with NASI gaining by 0.6 percent, while […]
The Ndichu Twins. PHOTO: COURTESY Techies Paul and Edward aka Eddie Ndichu are known for many things, notably their contribution to Africa’s financial technology evolution. The baby-faced twins honed their skills in Australia, with Eddie graduating at the famed Murdoch University in Perth, while Paul cutting his teeth at Curtin University. Still, the journey towards […]
Spotify is a pioneer in music streaming and is arguably the best-known service, Apple Music runs second to Spotify in terms of subscribers. However, there are African-focused music streaming platforms that you can explore. By 2024, Africa’s music streaming revenues are expected to have hit a 12% annual growth that will see the market reach […]
NAIROBI, Feb 10 (Reuters) – Kenya’s central bank has invited the public for views on the potential introduction of a digital currency, in a shift from its original opposition to crypto assets. The East African country pioneered mobile money payments with Safaricom’s M-Pesa in 2007, but its central bank has not issued a digital currency […]
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