Swvl set to disrupt commuter service

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Swvl set to disrupt commuter service

Staff Writer - January 9, 2020

Swvl is here to stay, its top executive has said. Following reports in December that the travel company which has jumped into the chaotic...

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The increase in the operating income was more than the rise in operating expenses to Sh1.07 billion from Sh905. 2 million, helping HF to more than double its profit in the period where the sector’s earnings slowed. The performance defied an environment of falling interest rates on loans in line with sustained decline in Central Bank Rate. Returns on government paper have also been falling even as foreign exchange income also softened on the back of reduced volatility on the shillings’ exchange rate. HF booked an 87.6 percent rise in income from securities to Sh595.97 million from Sh317.9 million while income from loans and advances grew to Sh1.18 billion from Sh1.16 billion. Operating expenses were driven by a rise in staff costs to Sh511.22 million from Sh437.21 million, even as the provisioning for loan losses eased to Sh110.43 million from Sh109.1 million. HF’s total deposits rose by 16 percent to Sh50.11 billion from Sh43.75 billion, which the lender attributed to increased market confidence after the recent rights issue. The balance sheet grew by 18 percent to Sh73.4 billion.

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13 artisans travelled to Nairobi to showcase their products at Bizarre Bazaar Global Village, one of Kenya’s largest open-air markets for art, fashion and design. The artisans, from both refugee and host communities in Turkana, made 102,000 Kenyan shillings in sales over just two days. ‘It was more than just a market – it was a space to learn, connect and dream bigger,’ said Rodgers Mugaragu, a refugee artisan attending the event for the first time. With more than 100 vendors from across the country and beyond, Biz Baz is a vibrant platform for small producers to display their work and explore new business opportunities. ‘With ITC’s support, I’ve attended Biz Baz twice. The first time, I learned about product quality and value addition,’ said Josephine Alogogita Lobur from the Lodwar host community. ‘Since then, I’ve improved my designs to meet market standards. This year, I connected with new clients, exchanged ideas with other artisans, and gained inspiration to keep growing my business.’ Beyond immediate sales, the experience has strengthened participants’ confidence to run their own enterprises, paving the way for greater financial independence and long-term self-reliance. The group also visited ITC’s Ethical Fashion Initiative (EFI) centre in Nairobi to learn how local artisans collaborate with EFI to produce high-quality, market-ready goods. Opportunities like these help artisans gain exposure to national buyers and new markets, strengthening small businesses and generating income. Increased opportunities also mean better cohesion between refugees and host communities.

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Tag: transport in kenya

Swvl set to disrupt commuter service

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