Kenya’s financial services providers and consumer credit market will have to drive a robust, proactive response to the COVID-19 crisis if they are to manage the risks to the industry, with the pandemic expected to have a major impact on the country’s economy and the consumer landscape, warns TransUnion, a global information and insights company Past crises and initial data suggest there will be ‘a significant reduction’ in the quality and volume of credit in Kenya as consumers and businesses grapple with lower income. “What will define the COVID-19 pandemic for the consumer credit market is how banks and lenders…
Author: Nairobi Business Monthly Reporter
Little, one of the ride-hailing companies in the country, has expanded by launching operations in the towns of Eldoret and Nyeri. This has bolstered its vision of being the leading Pan African mobility company. According to Kamal Budhabhatti, Little CEO; safe, efficient, and reliable mobility is the heartbeat of their business. “We are always looking to offer this service to ready markets. That’s why we were eager to begin operations in Eldoret and Nyeri. It is quite evident that these two towns are eminent to our economy and the demand for ride-hailing services is growing. This has offered us an…
In a move to cover more people in this period of the coronavirus pandemic, 4G Capital, a financial technology credit provider has entered into a partnership with Turaco, a micro-insurance start-up to offer micro health insurance to their clients in Kenya. The partners look to cover the large population that normally operate in the informal sector. They want to offer an insurance package to ease the burdens that most people in the sector face when they want to visit hospitals. This is expected to help many that any unprecedented financial burden will see them go into ruin. According to Wayne…
BY BOY MATUMBAI The Co-operative Bank of Kenya has placed Kenya on the global financial map with the internationally acclaimed Morgan Stanley Capital International (MSCI), adding the top lender to the coveted ranks of the Frontiers Index Small Cap Index. More significantly, Co-op Bank, alongside the local chapter of the British African Tobacco (BAT), carried Kenya’s flag high, being the sole African country that produced corperate organisations on the index that lists preeminent blue-chip listed stocks from select frontier markets of Asia, Middle East, parts of Europe and Africa. The phenomenal inclusion in the index raises the visibility of a…
Aga Khan University Hospital, Nairobi (AKUH) has opted to offer free Covid-19 testing for all their in-patients, surgical and day surgery patients as part of the safety measures to provide a safe environment for all patients and staff. This will enable them determine the best approach to care for their patients including the use of Personal Protective Equipment (PPE) during their stay in the Hospital and enhance the safety of patients and caregivers. Since the onset of the pandemic, AKUH Nairobi has remained in consultation with the Ministry of Health, their medical staff and experts in their Infectious Diseases Department to ensure that…
With the agriculture sector having declined in 2019 and expected to decline further in 2020 due to locust invasions and the coronavirus pandemic, it will need all the help it can get. The National Treasury has offered the Agricultural Finance Corporation (AFC), the financier of the agriculture sector, Sh1.5b in the next three financial years. The corporation is expected to use the funds to further its programs, including technical assistance to clients covering agriculture, food security, credit extension and rural development. Additionally, as part of its Women Affirmative Action Window, the corporation is seeking to promote credit to female-led enterprises,…
Elite Offset Ltd has donated goods worth Sh2m to aid in the fight against COVID-19 pandemic. The goods that included 400 packs of foodstuff and 40,000 pieces of surgical masks were donated to officers manning the Athi River border point. The surgical masks will help the police officers in their interaction with drivers especially truck drivers and those classified as essential service providers while the food will help feed the police officers and their families. Speaking while receiving the donation, senior assistant to the Inspector General of Police Miriam Muli expressed her gratitude to the firm for their generosity and…
BY PATRICIA SCOTLAND There is an eerie silence across the globe today. Bustling cities have gone quiet and highways that were once jammed with bumper-to-bumper traffic are empty. In homes, thousands of families are anxiously awaiting a phone call from a hospital about their loved ones. Many have already received the devastating news that their mother, father, child, spouse, sibling or friend has died from coronavirus (COVID-19) complications – often without the comfort of someone familiar to hold their hands. And in the very trenches of the war against this new disease that changed our world with astonishing speed, are…
BY LORNAH KIPLAGAT Exercise not only keeps you fit and boosts your immune system, it gives your mind a break from the pressures we are all feeling these days. If you are already exercising, I encourage you to continue doing so! If you are just starting, approach exercise gradually. You don’t need a treadmill to “run” at home. Take the staircase, do it in your yard or practice on-the-spot running. Improvise! Just about anything in your home can be repurposed for exercise. Use your lounge for yoga. Clear your mind by clearing out your garage or shed. Then turn it…
BY JACOB OKETCH Miaha is a Dholuo word that means a newly married young woman. As used in the title of this book, it refers to the recollections of a young woman recently married to a man from the Luo community. This book is a fresh breath of air as far as memoirs are concerned. Firstly, most people who write memoirs are in the twilight of their careers and lives. This one is about a young woman who is just starting out in life. The readers will realize that there is equally a lot to talk about at this stage…