Author: Muindi

East African Cables Plc has published its audited financial results for the year ended December 31, 2019, posting KSh630.9 million in net earnings. In 2018, the Group and Company recorded a loss of KShs 568.38 million and KShs 399.70 million respectively compared to a loss of KShs 663 million and KShs 454 million recorded in 2017. The improved financial performance has been attributed to the completion of a debt restructuring process that strengthened its balance sheet. The debt restructuring exercise which commenced end of 2017 came to conclusion in H1 of 2019 that resulted in huge savings on interest expense…

Radisson Hotel Group has increased investments in Africa with six additional hotels. The six hotels will be in Mali, Nigeria, South Africa (2), Ethiopia, and Ghana. This brings its cumulative total of 32 countries in Africa with a total of over 100 hotels. The Africa Report says the group aims to have 150 hotels within five years in its African portfolio. “We aim to further accelerate our presence across the continent through conversions, especially as liquidity remains a critical challenge,” said Ramsay Rankoussi, Radisson’s vice president for development in Africa and Turkey. “We have revisited our brand architecture to enable…

Partnership to Boost Product Development for Manufacturers through “SME Connect” Digital Market Linkage Kenya Association of Manufacturers (KAM) has signed a partnership deal with Ajua, Africa’s first Integrated Customer Experience Company, to drive the uptake of Kenyan made goods through the latter’s SME Connect digital platform. The SME Connect digital platform enables manufacturers to not only directly access retailers but also provide them access to feedback that comes from their consumers. This allows them to better enhance their products, market positioning, and relevant competitive strategies that are critical for survival in the current market dynamics. KAM Chief Executive Phylis Wakiaga…

African film producers have a new dedicated content marketplace for Afrocentric films and TV shows to monetize content from across the continent. Called ACOMART, a digital platform, the first-ever Virtual Screening Room for African films and series, where content buyers can explore the vast catalogue and make informed content acquisition decisions was launched early July. It currently has over 15,000 hours of film and TV series content from Ghana, Kenya, Nigeria, Uganda, Cameroon, South Africa available for licensing by platforms, broadcasters, airlines and other content buyers. Faith Koli, Project Leader at Acomart, says it is challenging for producers to sell…

Uber has expanded its delivery service to Kenya, a new feature that allows users to send items to each other through the app. Dubbed Uber Connect, the product provides a cost-effective same-day, no-contact delivery solution for family and friends while encouraging them to remain at home and practice social distancing.  Brian Njao, Country Manager for Uber in Kenya explains, “During this crisis, we have been working around the clock to find innovative ways to leverage our technology to assist consumers to move essential care packages while also enhancing earnings opportunities for drivers on our platform. With virtual gatherings becoming the…

For the first time in Olympic history, the women’s and men’s marathon victory ceremonies will both be held during the Closing Ceremony at the postponed Tokyo 2020 Olympic Games, the updated athletics timetable reveals. Inclusion of the marathon medal presentations in the Closing Ceremony will cap the 10-day athletics programme unveiled today, which follows the timetable previously announced for the 32nd Summer Olympic Games prior to their postponement in March. The programme commences on Friday 30 July 2021 with the opening round of the men’s 3000m steeplechase and concludes on the final day of the Games, Sunday 8 August, with the…