Afternoon business highlights – October 13 2017

Afternoon business highlights – October 13 2017

Kenya Power donates Ksh8 million to support needy students

Kenya Power has enhanced its partnership with both Starehe Girls and Boys Centres by boosting its Education Endowment Fund for the two schools to Ksh8 million. Since it was established, the Fund has seen 16 students benefit from fully paid sponsorship for their school fees. Currently, 13 students are studying in the two Centres under full sponsorship from the Fund. The Company established the Fund for Starehe Girls in 2008 and one for Starehe Boys Centre in 1998.

Unilever in drive to curb preventable deaths ahead of Global Hand Washing Day

Unilever’s number one soap brand Lifebuoy has celebrated the Global Hand Washing Day in Kenya by advocating for best handwashing practices that aim to reduce diseases among school going children and therefore curbing school absenteeism. Hygiene related diseases, which are easily prevented through the incorporation of basic hygiene practices , have been reported to be the leading cause of death among children under the age of five. Studies show that washing hands with soap is one of the most effective and inexpensive ways to prevent diseases. In sub-Saharan Africa, the total number of under-five deaths was 2.8 million in 2015, accounting for almost half of the total number of global under-five deaths in the same period, according to the World Health Organization Global Health Observatory data repository.

Africa’s economic performance improves in 2017

Africa’s economic outlook improved in 2017 compared with 2016 and is expected to gain momentum in 2018. GDP growth in 2017 is expected at 3.0% up from 2.2 in 2016 and projected to expand to 3.7% in 2018, the African development Bank said in an updated forecast released in Abidjan on Thursday, 12 October 2017. Abebe Shimeles, acting Director, Macroeconomics Policy, Forecasting and Research said, however, that the continent’s averages compare favorably with Global economic growth projections of 3.5% and 3.6% GDP growth in 2017 and 2018, respectively. The new set of data attributes Africa’s economic rebound mainly to recovery in the global economy and bottoming out of the commodity price bust that had set in since 2014.

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