Author: Muindi

The Betting Control and Licensing Board has extended the ban on advertising and gambling to September. According to the regulator, it is yet to conclude on the applicable frameworks to be used by betting firms.  “We are yet to come up with those modalities and it is a process we hope will take at least two more months to be ready for use by operators,” said the Board’s Chief Executive Peter Mbugi as quoted by the People Daily. https://khusoko.com/2021/05/18/why-the-rate-of-sports-betting-will-keep-rising-in-kenya/ In 2019, the Board banned outdoor and online advertising of gambling, as well as the advertising of the same between 6…

DStv Business has revamped its packages to cater for the different business entertainment needs of its commercial segment customers. The new and improved packages are called DStv Stay (formerly Accommodation package), DStv Play (formerly Pubs and Clubs package) and DStv Work (formerly called Office package). According to MultiChoice Kenya managing director, Nancy Matimu, the revamped DStv Business packages are designed to connect commercial customers within different industry sectors like hotels, pubs and clubs, offices, guest houses and serviced apartments customers growth, better cashflows and profits. “We remain true to our brand purpose of enriching lives as a clear purpose-led and technology platform…

Beneficiaries of the Wings to Fly Scholarship program, a signature program in Equity Group Foundation’s Education and Leadership Development pillar, who sat for the 2020 KCSE exams registered an impressive improvement in performance from the 2019 KCSE class.  In the recently released results, 203 Wings to Fly scholars managed to score a mean grade of A plain (A) and A minus (A-), forming part of the 7,313 finalists who topped in the national exams. Of the 203, 18 scored a mean grade of A plain (A) and 185 scored A-, while 1,410 out of a registered class of 1,640 attained university qualifying…

Brokerage firm EFG Hermes Kenya tied up with the Nairobi Securities Exchange (NSE) to launch a trading platform that provides real-time access to the equities market. The online equity-trading platform, EFG Hermes One, will offer retail investors seamless and convenient stock trading on the Nairobi Securities Exchange (NSE). EFG Hermes Kenya seeks to capitalize on Kenya’s high mobile phone penetration rate by leveraging digital channels to deliver efficient, convenient, and comprehensive services able to meet investors’ needs. “The launch of EFG Hermes One in Kenya forms part of our strategy to further extend our expertise and operational excellence, which has…

Shoe and leather accessories retailer, Nairobi Business Ventures Limited (NBV), has announced plans to acquire four businesses in Kenya, a deal that could be worth up to KSh3 billion.  Through a public notice,  the retailer intends to purchase 100 per cent ownership in Delta Automobile, a leading heavy commercial vehicle maintenance company; Air Direct, an aviation company; and Aviation Management Solution Limited. It also intends to purchase an 11.33 hectares parcel of land in Machakos County to be used to set up a cement manufacturing facility.  ABC Capital is the transaction advisor for the deal and MW & Company advocates…

Private equity firm, Fusion Capital, has raised KShs 800 million for completion of Greenwood City Mall in Meru from local and international investors. Fusion had previously structured the financing of the mall as a Development Real Estate Investment Trust (D-Reit) achieving a 38% subscription against the set threshold of 50% subscription. However, shareholders of Meru Greenwood Park dropped the DREIT in favour of private funding for the development. The KSh800 million is a follow-on investment from the original investment of about $4.3 million hence total funding of about $12 million (KSh1.2 billion). “We have a first-mover advantage in Meru and…