Author: David Indeje

East African Breweries Limited (EABL) has reduced greenhouse gas emissions by 20.6% reduction between 2019 and 2021, according to its first sustainability report published on Tuesday. The report includes the company’s sustainability initiatives in Kenya, Uganda and Tanzania, where it noted their sites utilize an average of 82 per cent renewable energy. The sustainability report is an indicator of EABL’s progress and outcomes in corporate sustainability and has been created per the Global Reporting Initiative (GRI) standards. The report provides an overview of the processes and mechanisms EABL has put in place to support communities and do business the right…

British American Tobacco (BAT) Kenya is the winner of the 17th Kenya Association of Manufacturers (KAM) Energy Management Awards (EMA). The Nairobi Securities Exchange-listed firm emerged as the overall winner of the award in which the same institution’s Thika Branch took the runners up award. Speaking at the award ceremony in Nairobi on Friday,  Ministry of Energy Chief Administrative Secretary Zachary Ayieko lauded the progress and commitment of the manufacturing sector in ensuring energy efficiency and conservation. “We commend the close collaboration between the Ministry and Kenya Association of Manufacturers to champion for energy efficiency across various sectors in the…

The Central Bank of Kenya (CBK) has invited bids for a 21-year amortized infrastructure bond worth KSh 75 Billion in September 2021. Proceeds will be used to fund infrastructure projects in the 2021/2022 National Budget Estimates. This infrastructure bond will be sold between 20th August 2021 and 7th September 2021, with a payment date of 13th September 2021. It will be tax-free as provided for under the tax laws. The redemption structure is 1st September 2031-50 per cent of unencumbered outstanding principal amount and 18th August 2042 for 100 per cent – Final redemption of all outstanding amounts. Bids must…

Carrefour, owned and operated by Majid Al Futtaim is expanding its footprint across Kenya and is now present at 12 locations in Nairobi. The retailer is now the new anchor tenant at the Southfield Mall in Embakasi, formerly occupied by Choppies. Southfield Mall becomes the 12th Carrefour store in Nairobi and the 16th countrywide. It projects that by the end of the year, it will be occupying a total space of 3,000 square meters on two floors – a full hypermarket model. “In our efforts to provide our customers with unbeatable prices and value, our latest expansion will provide even…

Kenya received over USD 60 billion more in remittances in July to USD 336.7 million from the previous year’s 277.0 despite a pandemic that continues to devastate the economy. According to the latest data from the Central Bank, this represents a 21.6 per cent increase. “The cumulative inflows in the 12 months to July 2021 totalled USD 3,442 million compared to USD 2,862 million in the same period in 2020, a 20.3 per cent increase,” the CBK said in its weekly bulletin. During the period, the United States remained the largest source of remittances accounting for 58.3 per cent of…

Phoenix Publishers Ltd, a wholly Kenyan-owned publishing company says it has appointed Owen N. Koimburi as its administrator. Koimburi is a managing partner at Mazars Kenya with over 30 years of experience in audit, accounting, financial management, and capacity building to Government, Public, and Private sectors. Phoenix Publishers was placed under administration on June 25 and will run for 12 months. During the period, creditors of Phoenix are barred from liquidating it to recover their money. Phoenix was founded in 1988 and specialises in publishing textbooks and creative works for children and teenage fiction. “In relation to the Company, there…