Kenya Airways has lost an estimated $100 million in revenue as a result of the coronavirus pandemic and related lockdowns, CEO Allan Kilavuka told reporters on Friday.
The coronavirus crisis has hit the global aviation industry hard, with Africa carriers alone expected to lose $6 billion this year in revenue.
“Our estimate is since January to date we have probably lost in terms of revenue about $100 million,” Kilavuka said, adding that figure was expected to grow to between $400 and $500 million by the end of the year.
Kenya Airways, in which Air France-KLM holds a small stake, was struggling long before the outbreak, posting 2019 losses of nearly 13 billion Kenyan shillings ($122 million) compared to 7.56 billion the previous year.
The government has been working on a plan to re
The COVID 19 pandemic has had and is predicted to have a strong effect on labour markets worldwide and in particular, Africa, where more than 70% of the workforce is in self-employment or works in micro, and small enterprises. This will also disrupt many existing value chains that most likely would, in turn, lead to loss of income and sharp increases in unemployment.
In addition, most of the SMALL MEDIUM ENTERPRISES (SMEs) especially in the developing countries are often run by women, operate in saturated sectors in the informal economy and most lack social protection. SMEs will, therefore, be the first to suffer devastating consequences of the economic downturn. Re-starting the economy and creating jobs will be key once the immediate health crisis is over.
DotConnectAfrica hosted an
Good news for M-Pesa users as CBK extends deal to December
CBK (Central Bank of Kenya) has extended the waiver on mobile money transactions under Sh 1,000 for another six months after the initial 90-day period lapsed. The emergency measures had been effected in March this year, and will now extend to December 31, to combat the spread of the nobel Coronavirus.
In a statement, CBK says the measures, which include the elimination of charges on transactions of up to Sh1, 000, have been effective and will remain in force.
CBK said it had noted that the measures were timely and highly effective in facilitating official and personal transfers at a time of great need.
Following the March 16 announcement by CBK of measures to facilitate increased use of mobile money transactions instead o...
Twitter Warns Trump
Twitter on Tuesday put a warning label on a tweet from President Donald Trump in which he warned if protesters tried to set up an "autonomous zone" in Washington DC they would be "met with serious force!"
"We've placed a public interest notice on this Tweet for violating our policy against abusive behavior, specifically, the presence of a threat of harm against an identifiable group," Twitter said.
Twitter users, including Trump's supporters, will be unable to retweet the offending tweet due to the measure.
The company explained that although the tweet broke its rules it "will remain on the service given its relevance to ongoing public conversation."
Trump posted the same message on Facebook. CNN has reached out to Facebook for comment.
Google is facing a new wave of legal issues. The latest is a $5-billion lawsuit in the US over claims that the search engine giant collected user information when they surfed the Internet in Google Chrome's 'private' Incognito Mode.
The class-action lawsuit, filed in US District Court for the Northern District of California, alleged that Google tracked and collected consumer browsing history even if users took steps to maintain their privacy, reports The New York Times.
Google was sued on Tuesday in a proposed class action accusing the internet search company of illegally invading the privacy of millions of users by pervasively tracking their internet use through browsers set in “private” mode through Google Analytics, Google Ad Manager,other applications and website plug-ins, inclu
Tuskys today launched an amazing partnership with the cooperative movement through the Cooperative Corona virus Response Committee (CCRC).
The initiative was launched in a bid to respond to the needs of members of different cooperatives around the country and other vulnerable populations during this period. The chief guest was Ali Noor, PS State Department of Cooperatives.
This comes after Tuskys Supermarket was put on the spot for not paying suppliers. In response, Tuskys says it has apologized to suppliers whose payments have been restructured as a result of COVID-19 pandemic.
In a letter dated May 14th, 2020 to Phyllis Wakiaga, CEO Kenya Association of Manufacturers(KAM), Tuskys CEO Mr. Dan Githua said the payments rescheduled in April will be progressively released on ...
HEWLETT-PACKARD (HP) has started an anti-counterfeit war against fake products on the local market using its brand and threatening the global IT firm’s foothold in the African market.
Announcing their expansion into Tanzania and Uganda recently, HP officials said the fast growing IT demand in emerging markets had caused a surge in counterfeit products, and in turn, massive losses for genuine manufacturers.
Moving into Africa now makes sense on two fronts for HP: To fight counterfeits and at the same time, consolidate its market share.
“We still see Africa as a solid growth market similar to India and China 15 years ago.
This is why we are entering Uganda and other emerging African markets in order to consolidate our market share across the globe.
In spite of the harsh econom
Pesapal, a leading provider of hospitality payment solutions & Gold level member of Oracle PartnerNetwork (OPN), has today announced its Oracle Validated Integration of Reserveport 2.6 with Oracle Hospitality OPERA 5.5 achievement.
The Reserveport integration to Oracle Hospitality OPERA ensures that availability and pricing is distributed real time to major booking online travel agents, such as Booking.com, Expedia, and Hotels.com; each time these change in Oracle Hospitality OPERA. Reservations on a booking site are automatically updated by the Reserveport PMS - no need for calls or manual inventory management. The result is a seamless interaction between the property management system and online travel agents.
"Achieving Oracle Validated Integration gives our customers confidence...
The logistics firm DHL has acquired an undisclosed minority stake in Mall for Africa’s Link Commerce, in a bid to grow its logistics business in Sub-Saharan Africa and other global emerging e-commerce markets.
The acquisition in Link Commerce, the UK-based e-commerce firm helped it launch its DHL Africa eShop platform. DHL went live with the digital retail app in April, bringing more than 200 U.S. and U.K. sellers — from Neiman Marcus to Carters — online to African consumers.
The move to offer Africa eShop to 20 of the continent’s 54 countries comes a month after Africa’s most visible (and well-funded) e-tailer, Jumia, went public. Jumia — which operates consumer retail and online service verticals in 14 African countries — raised more than $200 million in an NYSE IPO.
For the first time in its history, social media platform Instagram will start sharing revenue with creators through ads in IGTV and badges that viewers can purchase on Instagram Live. The company has hinted that ads would come to IGTV for more than a year, often saying the long-form video offering would be the most likely place it’d first pay creators.
The new tools that enable video creators to make money, including badges that viewers can purchase during Instagram Live videos and the introduction of IGTV ads. Both launches are considered a test, as the company is limiting the features’ availability during its experimentation phase, it says.
Badges will give viewers a way to support their favorite creators while also standing out in the comments, similar to efforts on other live video p
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