IFC announces Sh500m loan to Equity Bank to support Kenyan SMEs during COVID-19

International Finance Corporation(IFC), a member of the World Bank Group, has announced a Sh500 million loan to Equity Bank Kenya to help it increase working capital and trade-related lending to its small and medium-sized enterprise (SME) clients, especially those facing COVID-19 related challenges. The loan, which will ultimately support hundreds of Kenyan businesses in the manufacturing, health, trade, transport, and consumer goods sectors, is part of IFC’s global $8 billion fast-track COVID-19 facility, announced in March and designed to help businesses maintain operations and jobs during—and after— the COVID-19 crisis.…

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Empower agro-industries to end post harvest loses-Governor Kinyanjui

Governments should lobby for and devise laws that favor local industries for the country to be food secure. Nakuru Governor Lee Kinyanjui says despite Kenya producing much food, startling statistics from the Kenya National Bureau of Statistics show that Kenya loses over Sh100 billion worth of food to waste annually. Governor Lee stated that establishing agro-processing industries would ensure perishable food undergoes value addition thus minimizing loses. “We need to start thinking on establishing agro-processing industries that would ensure perishable food undergoes value addition thus minimizing loses” said Kinyanjui. He…

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Wananchi Group launches Zuku Fiber services in Nakuru

Wananchi Group on Wednesday launched Zuku Fiber in Nakuru in its move to expand services to its customers across the country. Speaking during the launch, Wananchi Group Chief Executive Officer, Mr. Thomas Hintze said they will also be expanding to other regions among them Eldoret, Naivasha, and Kisumu in phase two roll out plan. He noted that though Kenya has a high mobile internet penetration, there is high demand for home broadband internet services because of Kenya’s growing data demand with domestic data consumption currently about 200 to 500 times…

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Why you should invest in Nakuru

Nakuru County is banking on cheap and reliable geothermal energy, geographical centrality and availability of large chunks of land to woo local and international investors. Recently, the World Bank ranked Nakuru as the third county with the highest GDP in Kenya after Nairobi and Kiambu. Governor Lee Kinyanjui says the county government is working on investment incentives to attract and cushion investors to realize the Big 4 Agenda. The governor was speaking when he met envoys and foreign trade officers at a briefing on the upcoming Nakuru International Investment Conference…

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