Author: David Indeje

Limuru Tea Company says it posted a pre-tax loss of Ksh 11 million for its unaudited results in the first half of 2020 compared to KSh 26 million last year. “This reduction in loss is attributed to Topline growth and effective cost management initiatives,” said the Board Chair in the financial statement.  Total revenues increased by 72 percent to Ksh50 million in the period compared to Ksh 29 million realized in the same period of 2019. This increase in the first half of 2020 was driven by higher sales volumes which offset the adverse impact of declining market prices. During…

School has resumed its virtual education program for the 2020-2021 academic year Brookhouse school in Kenya has announced no tuition or fees increase for the 2020-2021 academic year. The management of Brookhouse School on Monday said the institution does not require any fee for re-enrollment of its students as per the letter sent to parents on 5th August 2020. “The re-enrolment form is a standard form used around the world by schools as a means of better administrative planning for timetable delivery and how best to arrange classes for the start of a new academic year,” Brookhouse Director Rabih Saab.…

Kenya’s equities market closed bearish in the week ending August 7, 2020, with a dip in the Nairobi Securities Exchange All Share Index (NASI), NSE 20 Share Index (NSE 20) and NSE 25 Share Index (NSE 25) recording declines of 2.0 percent, 2.6 percent, and 2.3 percent, respectively.  The number of shares traded and equity turnover rose by 94.0 percent and 54.2 percent, respectively during the week,” the CBK said in its weekly bulletin. The NASI performance was driven by declines recorded by large-cap stocks, with the highest declines being recorded in ABSA, KCB, and NCBA, which lost by 4.4…

Kenya Airways says it is going to shed more jobs in its restructuring exercise which has been escalated by the coronavirus pandemic. In a redundancy notice to Kenya Airline Pilots Association (KALPA), CEO Captain Murithi Nyaga said it plans to reduce operations before it starts to scale up operations, an exercise that could take up to 3 years. The airline plans to lay off 40 percent of its employees in the restructuring exercise. “The scale of this challenge requires substantial change, so we are in a competitive and resilient position to address the impact of COVID-19 withstand any long-term reductions…

The US Government has issued a Level 3 travel health notice to Kenya citing an increased risk of contracting Covid-19.  “Reconsider travel to Kenya due to COVID-19……The  Centers for Disease Control and Prevention (CDC) has issued a Level 3 Travel Health Notice for Kenya due to COVID-19,” the notice dated August 6th, 2020 by the Centers for Disease Control and Prevention (CDC) reads in part. “Kenya has lifted stay at home orders, and resumed some transportation options and business operations,” the notice read. A  Level 3 Travel Health Notice  is the highest risk level and means avoid all non-essential travel. CDC says the risk of contracting coronavirus in…

Kenya’s Olympic and world 3,000 metres steeplechase champion Conseslus Kipruto has tested positive for coronavirus. “Our World is going through a challenging period and we all have to take our responsibilities,” Kipruto said on his Instagram feed. “Unfortunately my COVID-19 test, as part of the Monaco-protocol, came back positive and therefore I can’t be part of the Monaco Diamond League on Aug. 14. “I don’t have any symptoms and I was actually in great shape. I was planning to go for the world record. It has stayed too long outside Kenya.” View this post on Instagram Our World…