Author: Muindi

Coffee grower Eaagads Limited, has reported Ksh 18.4 million loss for its full-year results ended in March 2020. The coffee grower attributed the loss to unfavorable weather and poor crop production during the period. “The decrease was mainly attributed to the severe drought experienced in the first half of the year which affected the formation of the late crop for the production year 2019/2020. Due to the low yield, the company only achieved sales of 127 tons of coffee compared with 416 tons last year,” the company said on Monday. Its revenues dropped from Kshs179.6 million last year to Kshs48.6…

Kenya’s Immigration Department says anyone visiting the country and requires a visa will have to apply online. “Online Visa application is highly encouraged especially at this period of COVID-19 Pandemic,” Alexander Muteshi,  Director General Immigration Department said to those wishing to visit Kenya as tourists or for any other purpose. On the other hand, in a Memorandum of Understanding (MoU) signed with the Postal Corporation of Kenya said those who had applied for passports could get the documents delivered directly to them. “Through the initiative, passport applicants will not have to visit our offices to pick ready passports,” Muteshi stated.…

The Kenya Private Sector Alliance (Kepsa) Foundation has launched an innovative and comprehensive project that will support youth and women in Mombasa to gain business skills. Dubbed ‘Creating Opportunities and Alleviating Poverty Through Sustainable Trade (Coast)’, the project will focus on the Tudor informal settlement, aiming to create awareness on waste management and increased residents’ capacity to develop business cases through mentorship. Mombasa County CEC Environment Dr. Nato Godfrey lauded the initiative noting that “Such inclusive business ventures will go a long way in improving the living conditions of the low-income earners in Tudor. The county government of Mombasa is…

Kenyan retailer Naivas opened its 64th store in Syokimau to serve the burgeoning population of residents and businesses in the Western side of Machakos County. It is the third store to open since March after Mountain View and Kilimani branches. The new store occupies 21,000 square feet of retail space, is the second in Syokimau, and is intended to complement the first one located at Gateway Mall.   READ World Bank’s  IFC Acquires KSh1.5bn Minority Stake in Naivas Supermarket Quick Mart Supermarket Expands to Kilimani, a High Purchasing Power Neigbourhood Naivas Chief Commercial Officer Willy Kimani on Tuesday stated that the…

TransCentury PLC Board of Directors has postponed indefinitely the shareholder’s Extraordinary General Meeting (EGM) that was to be held Thursday. “This is due to circumstances beyond the control of TC and in view of this the Board has found it necessary to reschedule the EGM and will be issuing a new notice after consulting with all relevant stakeholders,” Virginia Ndunge, Company Secretary said. The EGM was meant to discuss and vote on the proposed delisting of the firm from the Nairobi Securities Exchange(NSE). Mr. Shaka Kariuki, TransCentury Chairman in a circular had informed investors that delisting from the NSE was “…a…

The Central Bank of Kenya (CBK) is likely to retain the base lending rate at seven percent, analysts say. The Monetary Policy Committee of the CBK meets Wednesday to take stock of the developments in the pandemic-hit economy since its last meeting in June and chart a way forward, against the backdrop of stable inflation and exchange rate. In June, the headline and core inflation eased sharply to 4.59 percent and 1.6 percent respectively in June reflecting reduced demand and food price pressures. In the previous MPC meeting held on June 25, the regulator maintained the Central Bank Rate (CBR)…