Good News from Africa

Corporate News From Africa

  1. China smartphone giant Xiaomi opens first Kenya store:

Smartphone maker Xiaomi has opened its first Nairobi store, effectively stepping up competition in the local market dominated by Chinese rivals including Transsion Holdings, the manufacturer of the popular Tecno, Infinix and Intel brands. Xiaomi is ranked the fourth largest smartphone company in the world after Korea’s Samsung, United States Apple and China’s Huawei, according to the latest International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker. Xiaomi has picked The Hub shopping mall, located in Nairobi’s upmarket Karen suburb, for its maiden Kenyan outlet. The firm said the physical store will complement its online presence and boost its sales locally. Previously Xiaomi mainly used vendors including Jumia and to ship its brands into Kenya besides a host of local outlets. The Business Daily has also learnt that the firm is eyeing more physical outlets within Nairobi.

  • KQ targets more domestic routes with new license:

National carrier Kenya Airways has received an air service license (ASL) from the aviation regulator, paving the way for it to commence new domestic flight routes in the near future. The Kenya Civil Aviation Authority (KCAA) revealed in a Gazette notice last Friday that it has given the loss-making airline a three-year green light to fly to Wajir, Homabay, Lokichoggio, Isiolo and Maasai Mara using Boeing 777, Boeing 787, Boeing 737 and Boeing 8170 aircraft. The airline has also been licensed to operate on the routes using Embraer 190, Embraer 145 and DHCS based at Jomo Kenyatta, Moi, Kisumu and Eldoret airports. “Licence granted for three years, with effect from the 22 March 2019,” KCAA said in the notice. Should Kenya Airways (KQ) launch its services along the new routes, the move is likely to increase competition for smaller airlines such as Silverstone Air, which already plies the Wajir and Maasai Mara routes.

  • GT Bank, Equity win Euro Money awards:

Nigeria-headquartered Pan-African lender GT Bank with four Kenyan branches and subsidiaries in Uganda, Tanzania and Rwanda last week emerged the overall best bank in Africa and Nigeria. KCB  and Equity groups  were among seven financial institutions with Kenyan operations feted for best practices in service offerings at the just concluded Euro Money Africa Awards for Excellence. KCB that runs 263 branches in seven countries with 6,220 employees took home the SME best Bank Award while 9,000-employee strong Equity with subsidiaries in eight countries won the best digital bank award. GT Bank chief executive Segun Agbaje said it would grow investments in technological innovations to improve service delivery across its markets. “We are leveraging on the best of technology to add real value to our customers’ lives. These awards reflect the progress we are making in delivering a banking experience that captures what customers want today and tomorrow,” he said


Kindly note that the above mentioned news have been extracted and googled thru the various local news papers from African continent

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