Author: Editor

Leading consumer electronics brand XTOUCH has officially launched its smartphones and other products in the Kenyan market. Founded in Dubai, XTOUCH has focused on providing high quality and affordable products to the market which has seen it grow market share considerably across the Middle East, Europe and Africa.

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POST BANKSKenya Post Office Savings Bank (Postbank), PostBank Uganda Ltd and Tanzania Postal Bank have teamed up to set up a converged ATM service for their customers, which is expected to result into greater financial inclusion.  Under the umbrella of the Association of Savings Banks of East Africa (ASBEA), these banks have initiated an ATM service that will enable customers of member banks’ access their accounts whether in Kenya, Uganda or Tanzania using their respective bank’s debit cards.

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END OF AN ERATitus Tukero Naikuni joined KQ in February 2003 from Magadi Soda and was expected to retire last year. However, KQ’s board asked him to stay for one more year to steer the company through turbulence.

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With a population of more than one million people, Kericho Town has rather been a sleeping giant as far as retail business is concerned with only a few small shops and hotels. But this is about to change with investors pouring millions of shillings to put up malls and other world class facilities.

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Kenya’s hotel market declined during the past two years, falling 6.6% in 2012 and an additional 2.6% in 2013 as travellers avoided East Africa’s biggest economy, a new report by PricewaterhouseCoopers (PWC).

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Local content in the context of an oil and gas industry refers to the commitment by government and industry players to build on the capacity and capability of local people and businesses to support the long-term development of the sector.

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Diamond Trust Bank Kenya is targeting to raise Sh3.63 billion in fresh capital in an ongoing rights issue. Through the issue, the bank intends to offer 22 million additional shares at a rights price of Sh165 per share. This represents a hefty discount of 32% over the bank’s share price, which trades at an average of Sh244 at the bourse.

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250, 000The number of mobile bank customers registered by CBA Tanzania in a recent partnership with Vodacom mobile network operator to roll out M-Pawa, a mobile phone-based banking unit similar to M-Shwari .

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SPENDINGBudget leaves Treasury with tight optionsNational Treasury Cabinet Secretary Henry Rotich presented what appeared to be a populist spending budget by steering clear of increasing income tax and resisting the temptation to increase Value Added Tax (VAT).

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