Author: David Indeje

I&M Holdings Plc has acquired a majority stake in Uganda’s Orient Bank Limited (OBL) from 8 miles LLP and Morka Holdings Limited. In a statement Monday, I&M said the acquisition was completed on 30th April 2021 after receiving the necessary approvals from the Central Bank of Kenya, Bank of Uganda, Capital Markets Authority of Kenya and the COMESA Competition Authority. I&M Holdings PLC and Orient Bank Limited signed an agreement in July 2020 for I&M Holdings PLC to acquire 90 per cent shareholding of the Ugandan entity.  “The move underscores I&M Group’s commitment to its growth and expansion strategy in Eastern…

United Kingdom Minister for Africa James Duddridge will address the Eastern Africa Editors Society as it marks World Press Freedom Day, May 3, 2021, at 8 am through a video conference. Mr Duddridge will highlight the work journalists do amid challenging environments, including the COVID-19 pandemic.  https://twitter.com/EA_Editors/status/1388947530549977094?s=20 Monday’s session will be the last in a five-day series of meetings organised by the Eastern Africa Editors Society to mark World Press Day.  The regional consultative meeting has drawn delegates from Kenya, Ethiopia, Comoros, Seychelles, Mauritius, Uganda, Somalia, Rwanda, South Sudan and Tanzania and on how to strengthen media freedoms in the…

Kenyan President Uhuru Kenyatta on Saturday lifted the Covid-19 restrictions following a 72% reduction in new cases within Nairobi. Other counties that had been affected by the restrictions were Machakos, Kiambu, Kajiado and Nakuru.  Initially, the Interior Ministry through a gazette notice had announced 60 days extension in the night curfew in the country’s five worst-affected counties. The counties had been classified as diseased zone due to a high prevalence of Covid-19. In a televised address to mark Labour Day celebrations, President Kenyatta said, “This caseload has now gone down to below 15,000 for the month of April, signifying a…

DIB Bank Kenya Limited, a subsidiary of Dubai Islamic Bank has introduced PesaLink, an interbank transfer digital payment solution, as part of its digital banking providing convenience to customers. “We are committed to the continuous improvement of our banking services for the benefit and convenience of our customers,” said DIB Bank Managing Director Peter Makau. The service enables customers to make single payment transactions of up to KSh300,000 and up to a daily aggregate limit of KSh999,999 conveniently. Pesalink is a digital banking platform that was introduced in Kenya on February 17th, 2017. It allows bank to bank and mobile…

Kenya wants two refugee camps, Dadaab and Kakuma closed by June 30 next year, the government said Thursday.  This follows a meeting between President Uhuru Kenyatta and the  U.N. High Commissioner for Refugees Filippo Grandi.  The camps currently host 433,765 refugees.  “A joint team comprising officials from the Kenyan government and the (U.N. Refugee) agency will therefore be formed to finalize and implement a road map on the next steps towards a humane management of refugees in both camps,” a joint statement said. The Interior CS Fred Matiang’i said that repatriation of refugees to countries of origin and socioeconomic integration…

South Korea’s LG Electronics Inc Thursday said sales of home appliances and TVs propelled its operating profit to hit USD 1.36 billion (Ksh. 145 billion) the first three months of this year. Its sales hit 17 billion dollars, an increase on year of nearly 28 per cent.  “At 8.1 per cent, this is a first-quarter operating profit record for the global consumer electronics giant, reflecting strong demand for LG home appliances and home entertainment products as customers around the world continue to spend more time at home due to Covid-19 lockdowns,” the firm said in an emailed statement to Khusoko.…