Author: David Indeje

National Cement Company Limited, a member of the Devki Group of Companies has taken over all cement and non-cement assets and business of ARM Cement PLC for KSh 5.0 Billion. ARM Cement was placed under administration in August 2018 over Ksh19.3 billion debt. “We are happy to inform you today that we have been able to complete the ARM acquisition and cleared all the transaction cost amounting to Sh5 billion to the PriceWaterhouseCoopers (PwC),” Devki Group chairman, Nerandra Raval. The firm said 1,100 employees of ARM Cement will be retained by the new operator, National Cement Company. In October 2018, Creditors…

Their research is helping us fight poverty -The Royal Swedish Academy of Sciences. Abhijit Banerjee, Esther Duflo and Michael Kremer have been jointly awarded the Nobel Prize in economics “for their experimental approach to alleviating global poverty”, by The Royal Swedish Academy of Sciences. The three were awarded the Sveriges Riksbank Prize in Memory of Alfred Nobel and awarded every year since 1969 — for developing a method to identify the causes of poverty and analyze the costs and benefits of policy interventions through field studies. Banerjee and French-American Duflo both work at the prestigious Massachusetts Institute of Technology while…

The decline in performance is mainly attributed to oversupply and constrained spending power among consumers due to a tough financial environment Kenya’s retail activity has softened in 2019 as investors consider how the tough financial environment might impact their investment outlook, according to  Cytonn Investment’s annual report on the sector. In its latest Kenya Retail Sector Report -2019, based on rental yields, occupancy rates, as well as demand and supply. “In 2019, the sector’s performance in key urban cities softened, recording average rental yields of 7.0%, 1.6% points lower than the 8.6% recorded in 2018,” reads part of the report. The…

Eliud Kipchoge on Saturday broke the two-hour marathon barrier at the Ineos 1:59 challenge in Vienna. Eliud ran 1:59:40 to complete the 42 kilometer distance in the fastest time in history. He becomes the first man to run a marathon under 2 hours. “…It has taken 65 years for a human being to make history in sports… I’m the happiest man to run under 2-hours in order to inspire many people and tell them that No Human is Limited,” said Eliud Kipchoge after crossing the finish line. https://twitter.com/EliudKipchoge/status/1182934782684123136?s=19 According to Eliud, “The hardest time was actually before the start.” A…

Restaurant chain Java House, popular for coffee drinking, is reimagining its branches to appeal to urban consumers.  The Junction, Sarit and Galleria malls, will be the first to have a new Java store look that will bear attractive new design and décor elements, which include Java’s latest interior seating options, new exterior design. https://twitter.com/javahouseafrica/status/1178917714527522816 “We will be reimaging three of our biggest stores in Junction, which is due to open mid-October, Sarit and Galleria all of which will be the first of the new concept Java stores,” said Java Chief Executive, Paul Smith. Java House, which also owns the 360…

Olga Tokarczuk and Peter Handke have won the Nobel Prize for literature. The Swedish Academy announced Polish novelist and activist Olga Tokarczuk and Austrian author Peter Handke winners for the 2018 and 2019 Nobel Prizes for Literature on Thursday. Tokarczuk,  won the 2018 award, and was cited by the committee for her “narrative imagination that with encyclopedic passion represents the crossing of boundaries as a form of life”. In 2018, Tokarczuk,  won the Man Booker International Award for her novel Flights. The Nobel committee’s Anders Olsson said her work, which “centers on migration and cultural transitions”, was “full of wit…