Author: David Indeje

The United Kingdom parliament has warned that the British government’s new bilateral trade agreement with Kenya could undermine the East Africa Community (EAC) regional integration initiative. According to the Parliament’s International Agreements Committee report , the deal will have disruptive political and economic impacts on the EAC trading bloc. As a result, it resolved to delay ratification of the agreement – initially scheduled for February 10 – for another three weeks to allow for a deeper scrutiny. “Kenya’s divergence from the EAC’s common external tariff could have political and economic implications for the coherence of the EAC as a regional…

Elsa Majimbo has become a partner with a top Italian fashion company where she will collaborate with the fashion house on a special project.  Maison Valentino, the Italian fashion house on Friday said it will collaborate with the 19-year old Kenyan in a ‘special project’. “Valentino is proud to announce a special project with writer, actor and comedian Elsa Majimbo (@ElsaAngel19), culminating into a soon-to-be-released collaboration,” the company announced on its social channels.  https://twitter.com/MaisonValentino/status/1362794321305497605?s=20 The Maison Valentino plays a major role in the luxury division through tradition and innovation, a necessary combination for a creative industry that generates a sense…

WPP Scangroup’s board of directors has suspended CEO Bharat Thakrar and the Chief Finance Officer, Mr Satyabrata Das facing allegations of irregularities. In a statement, the Board said the duo will be investigated on allegations of gross misconduct and possible offences in their capacity as senior executives and employees of the company’ In the interim, the Board has appointed Mr Alec Graham as Chief Operating Officer to ensure the continued management of the company. Alec has over 25 years of experience in the advertising and communications business working with various companies in the WPP plc group. “In due course, the…

KQ, Kenya’s national airline, has cut its New York flights to one weekly as a surge in COVID-19 cases dents bookings since resuming operations in November. Allan Kilavuka, KQ chief executive officer said the fragile travel industry has seen a worsening dip in demand due to implementation and reinstatement of travel restrictions in various countries in response to the second wave of Coronavirus. Consequently, passengers have scaled down their travel plans leading to subdued demand. “As Kenya Airways, we have responded to this by reducing capacity deployment in some key markets such as the UK and the US. We have…

Limuru Tea Company says it expects to record a decline in net profits for the financial year ended 31st December 2020 due to rising cost of production and a global downturn. “The board is of the view that the estimated decrease for the period is due to lower tea prices that were realized in 2020 on account of the rising cost of production and a global downturn triggered by the COVID-19 pandemic,” said Alison I.N Kariuki, the listed firm’s Company Secretary. https://twitter.com/tradingroomke/status/1362287205444702213?s=20 The listed firm is an outgrower to Unilever Tea Kenya Limited. It posted a pre-tax loss of Ksh…

British American Tobacco Kenya (BAT) posted a 41 per cent growth in profit for the year ended December 31, 2020, to Ksh.5.5 billion from Ksh.3.9 billion in 2019. The higher earnings were attributed to a lower cost base and reduced tax liabilities following relief on corporation tax by the government.  “Net revenue increased by five per cent to Ksh.25.3 billion, driven by higher export revenues and lower excise duty and value-added tax (VAT), which reflects the impact of the decline in domestic sales volumes and the reduction in the rate of VAT in April 2020,” BAT said in a statement…