Author: David Indeje

Kenya needs to enhance its capacity in legal, institutional, and capacity in addressing challenges within the cybersecurity space. There is an urgent need to understand the rate at which the business is introducing new technologies and work out strategies for evolving its controls and processes at the same pace to accommodate that change. These are some of the critical areas that emerged during a roundtable discussion hosted by the Kenya ICT Action Network in partnership with Global Partners Digital with the support of the United Kingdom that focused on the ways to increase local stakeholder awareness of cybersecurity issues and…

Safaricom Plc, Kenya’s biggest mobile operator, expects its next chief executive to have strategic power mergers & acquisitions (M&A) skills and a deep understanding of the financial services sector. To offer the telco opportunities to expand and solidify their businesses in the new economy. According to The Africa Report in an exclusive interview with the telco’s outgoing chief executive Bob Collymore,  says “I have never been a good mergers and acquisitions person, but we will need someone who can spot a deal and grab it. [We need] someone who understands the financial sector a lot more, if we are to…

East African Breweries Limited (EABL) has launched its apprenticeship programme for female university students across East Africa. The programme will focus on students taking courses in Science, Technology, Engineering and Mathematics (STEM). Commenting on the programme, KBL Managing Director Mrs. Jane Karuku said EABL was engaging the gear in elevating and empowering female talent because the company acknowledges that a diverse culture is intrinsic to the success the business. “At EABL, we are always striving towards achieving gender balance by making deliberate decisions that are aimed at that. Last year, women constituted a third of our workforce here and I…

Afrobarometer, a pan-African, non-partisan research network finds that Africa’s young adults and highly educated citizens are most likely to consider leaving their country. “On average, more than half (51%) of all respondents with postsecondary educational qualifications say they have given at least “a little” consideration to emigrating, including one in four (24%) who have considered it “a lot.” By comparison, potential emigrants make up 43% and 29% of respondents with secondary and primary schooling, respectively, and 24% of those with no formal education.” Afrobarometer’s latest findings in the Pan-Africa Profiles report on migration relies on data from 45,823 interviews completed…

Kenya’s listed retailer, Uchumi Supermarket Ltd (NSE: UCHM) has agreed with its Board of Directors the restructuring of its debt by way of company voluntary arrangement. The Board approved a company voluntary arrangement in a meeting held on 20 March 2019 with John Karani, the Chairman in a public announcement saying the retailer needed to “De-leverage the business to reduce financial strain, improve liquidity and achieve operational normalcy.” The Board said the arrangement is subject to the approval at a meeting with the creditors to be convened in April – within 30 days from March 20 March 2019. “The creditors’…

The Government has formed a Task Force on National Risk Assessment on Money Laundering and Terrorism Financing (Task Force) to facilitate the conduct of Kenya’s National Risk Assessment on Money Laundering and Terrorism Financing. Henry Rotich, Treasury Cabinet Secretary said in a gazette notice dated 22nd March 2019. “The Financial Reporting Centre and the Bank Supervision Department of the Central Bank of Kenya shall be joint Secretaries of the Taskforce and the Secretariat will be based at the Financial Reporting Centre,” said Rotich. The team will be comprised of 30 institutions and departments, including the Capital Markets Authority, Kenya Bankers…