Author: David Indeje

After issuing a Force Majeure, Tullow and its partners have withdrawn it paving way for the resumption of oil exploration for blocks 10BB and 13  in the South Lokichar basin scheme in Kenya. “The lifting of Force Majeure notices has been facilitated by the improvement in COVID-19 pandemic restrictions worldwide and the resumption of local and international flights, allowing the restart of the various workstreams under the Project,” said Africa Oil Corp, Tullow’s operating partner in a statement. In May, they declared Force Majeure on its main licences in Kenya citing the effect of restrictions caused by Covid-19 on Tullow’s…

Equity Group says it will be using 0763 000 000, as the single line of contact from Equity to customers to reduce the risk of financial fraud across its business platforms. The lender said moving forward, customers will be contacted using the number under Equitel’s main prefix ‘0763’. Group Managing Director and chief executive Dr James Mwangi said the rollout of the universal number is part of the bank’s recent rebranding, where the company now presents itself as One Equity, a unified brand one-stop-shop offering integrated financial services provider under one roof. “The number embodies this goal by unifying all…

Jamii Bora Bank (JBB) has been renamed Kingdom Bank following its acquisition by the Co-operative Bank of Kenya. The acquisition became effective on August 21, 2020 with Co-operative Bank (Co-op Bank)acquiring 90 percent of Jamii Bora Bank Limited. This was through the subscription of 224,153,154 new class of ordinary shares that will enable Co-op Bank to inject KSh1 billion and appoint a board to run the business. “Pursuant to Central Bank of Kenya approvals, the former Jamii Bora Bank has changed its name and will now operate as Kingdom Bank Limited,” said Co-op Bank in a statement on Tuesday. Kingdom…

Regional retailer Tuskys Supermarket shareholders on Tuesday said it has signed terms of agreement with a Mauritius fund based company for financing facility worth Ksh 2.0 billion. “This funding will help alleviate our current capital constraints impacted by Covid-19 and further reposition the business for increasing stakeholder’s value,” said Benard Kahianyu, Chairman of the Board. However, the transaction details are subject to condition. “The Tuskys Board and Management will engage all stakeholders in the coming days to agree on business going forward.” https://twitter.com/TuskysOfficial/status/1298238546709536768?s=20 READ Transition: Tuskys Shareholders Approve Sale of Majority Stake  The cash-strapped retailer has paid Ksh.700 million to…

Google’s high altitude balloon meant to provide high-speed internet in Kenya crashed near the town of Buta (close to Kisangani) in Bas-Uélé in the Democratic Republic of Congo Sunday. According to Kabale Musavuli, initial;y, they did not know what kind of object it was.  “Object that crashed is Project Loon Kenya HBAL166 that crashed in Congo over 1600 km from Kenya.,” he said later. https://twitter.com/kambale/status/1298204369347846144?s=20 https://twitter.com/stratoballoon/status/1298021766611304450?s=20 In July, Telkom Kenya launched loon, 4G enabling balloons in partnership with  Alphabet expanding its internet subscription by 4.8 million users. Loon is a network of stratospheric balloons designed to bring internet connectivity…

Kenya’s Alternative Justice Systems Taskforce will launch its Alternative Justice System Policy framework aimed at enhancing access to and expeditious delivery of Justice. Further, the Policy, among other things, recognizes as Alternative Justice Systems as a legitimate system of resolving disputes as provided for in the Constitution of Kenya. The policy has been developed by the Taskforce on Traditional, Informal and Other Mechanisms Used to Access Justice in Kenya which was gazetted in 2016 by the former Chief Justice Dr. Willy Mutunga. Justice Joel Ngugi (Prof.) the Chairperson of the task force during a webinar on “The Youth in Alternative…