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The Valuable Cab : Uber pumps KSh 14bn to the economy
Your daily dose of financial news
Hello đź‘‹
It's Brian from The Kenyan Wall Street.
Here is our lead story for the newsletter today:
🚕 Uber Kenya Contributed KSh 14bn to the Economy – Impact Report
(From Left) Kui Kinyanjui, Strathmore Institute of Public Policy; Kui Mbugua, Uber Eats Kenya; Ambassador Phillip Thigo, MBS, Special Envoy for Technology for the Republic of Kenya; Imran Manji, Head of East Africa, Uber; Samuel Kariuki, Microsoft; Asif Khan, Ando Foods; and Christopher Maclay, Mercy Corps during the launch of the Uber Kenya Impact Report.
Ride-hailing platform, Uber, has grown over the past decade as an integral wheel in the Kenyan gig economy. Thanks to Public First, an independent consultancy based in London, Uber released its first economic impact report detailing how much they have contributed to the Kenyan economy.
Here is a brief recap of the report :
▶️ Value Contribution to the economy - KSh 14 billion.
▶️ Additional income for drivers - KSh 2.2 billion.
▶️ Additional value accrued by restaurants from Uber Eats - KSh 534 million.
▶️ Economic Contribution to the nighttime economy - KSh 167 million.
▶️ Added value to the country’s tourism industry - KSh 2.2 billion.
The report also highlighted important perceptions by riders, delivery partners, and customers on Uber's role in promoting convenience, safety, and sustainability. This article breaks them down and also highlights prevalent concerns about the ride-hailing app…
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Video of the Day
Charles Wokabi, Head of Sustainability and Corporate Affairs at ABSA, talks about the bank's role in promoting sustainable business practices across Africa.
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