Afternoon business highlights – February 13, 2018

Afternoon business highlights – February 13, 2018

Liquid Telecom deploys 3km internet link in 24 hours to livestream Black Panther Premiere from Kisumu

Liquid Telecom Kenya, part of the leading pan-African telecoms group Liquid Telecom, has built a 400Mbps connection across Kisumu City in just 24 hours in order to livestream the red carpet arrivals for the movie premiere of Kenya’s Black Panther this evening. In order to connect the IMAX cinema at Nakumatt Mega City, Liquid Telecom Kenya has leveraged its 12.4km metro network that it built in partnership with Kisumu County Government with the goal of transforming the metropolis into a Smart City. The fibre network covers Kisumu Central Business District and spans through Milimani and Kondele up to Kibos, Kicomi and Migosi Junction.

KRA grows revenue collection by Ksh62.5 billion

Overall revenue for the first half of 2017/18 financial year grew by Sh62.5 billion to Sh712.2 billion from Sh649.7 billion recorded in the previous year, while Exchequer Revenue grew more strongly by 10 percent to reach Sh664.77 billion up from Sh 604.27 billion in FY 2016/17. This growth compares well with the 3-year average Exchequer Revenue growth of 10.5 percent. The overall growth, representing 9.6 percent rise was recorded against the backdrop of a depressed economic climate occasioned by the prolonged election cycle that stretched for the better part of the calendar year 2017.

Sub-Saharan Africa has highest number of female startup entrepreneurs

Sub-Saharan Africa has the highest number of female startup entrepreneurs relative to established businesses at 11%. According to an analysis dubbed the Global Entrepreneurship Monitor report 2016/2017, 2 women in Sub-Saharan Africa start a business for every woman running a mature business compared to lower number of entrepreneurs in other regions. The report states that women in Africa are venturing into entrepreneurship largely to meet financial obligations and to close a market gap.

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