Author: David Indeje

Kenya’s Ruth Chepngetich, and Ethiopia’s Seifu Tura won the women’s and men’s titles respectively on Sunday at the 43rd Chicago Marathon. Ruth crossed the line in 2:22:31. American Emma Bates finished second in 2:24:20. Sara Hall finished third in 2:27:19, and Keira D’Amato finished fourth in 2:28:22. Chepngetich takes home $55,000 for the win, Bates ($45,000) for second place and Hall $35,000 for third. “The race was good but it was not easy,” Chepngetich said. “I pushed alone from the 10k. The weather was nice. I believed in myself and I was fortunate and I pushed myself.” https://twitter.com/ChiMarathon/status/1447240269557022723?s=20 Tura took…

Cytonn Investments Management Plc’s has placed two of its investment products under administration as part of ongoing efforts to turn around their performance. The independent investment management firm said the products are the Cytonn High Yield Solutions and  Cytonn Projects Notes. The administration process was initiated by Cytonn’s Chief Executive Officer Edwin Dande. “Administration gives the funds the room to restructure, recover, and return value to investors. The administration is not liquidation,” the Group said in an emailed statement. Kerato Marima, a licensed insolvent practitioner has been appointed by the High Court Commercial and Tax Division as the administrator of…

Safaricom said the Kenyan economy has been growing rapidly since 2005, but more needs to be done to promote a more inclusive society.

Nairobi jumped eight places to 98 out of the total 196 cities ranked globally in the latest Global Financial Centres Index (GCFI). The index rates 116 financial centres across the world combining assessments from financial professionals with quantitative data which form instrumental factors. “GFCI 30 provides evaluations of future competitiveness and rankings for 116 financial centres around the world. The GFCI serves as a valuable reference for policy and investment decision-makers,” said the report. Produced by Z/Yen and the China Development Institute, the biannual ranking tracks 126 centres based on 146 instrumental factors.  In GFCI 30, the main index increased…

SimpliFine, a subsidiary of the BlackIvy Group, completed the acquisition of Ennsvalley Bakery. The Kenyan integrated food producer offering locally sourced and manufactured food products across East Africa will also take over the production of baked goods at Chandarana supermarkets. SimpliFine will introduce a range of 21 baked products that include bread, buns, muffins and cakes in the market. The refreshed range of products will feature both SimpliFine and Ennsvalley brands to serve the needs of the market. The announcement follows the recent acquisition of Alpha Fine Foods by SimpliFine’s parent company, BlackIvy, as well as the acquisition of French…

SBM Bank Kenya Ltd plans to close three branches and two express units as it scales up its digitisation strategy. Several jobs are at risk in the latest round of cuts and closures at the lender following a job evaluation exercise. According to the bank, “It has reviewed its organization structure into a fit-for-purpose structure which is to be implemented in order to realize its current and future strategic objectives while optimizing its digital banking solutions.” The three branches include Lavington, Buru Buru and Kimathi and their express units in Limuru and on Ngong Road. “The impacted branches will cease…