Two of Kenya’s leading marketing communication firms, Redhouse Group and Media Edge Interactive, have been placed under administration due to financial challenges. Mark Kaguru has been appointed as administrator to oversee the winding up of the companies and the sale of their assets. Redhouse Group was formed in 2012 by former Ogilvy Kenya executives Koome Mwambia and Okoth Obado, who joined forces with Media Edge Interactive founder Esther Ngomeli. The group acquired a majority stake in Media Edge Group, which comprised Media Edge Interactive and Media Edge PR, and also launched its own subsidiaries, Redhouse Advertising, Redhouse Media, and Real…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
The Nairobi Securities Exchange PLC (NSE) has approved the listing of Linzi Sukuk, the first Shari’ah-compliant product to be admitted on its Unquoted Securities Platform (USP). The USP is an automated solution for the issuance and trading of securities of unquoted companies. The Linzi Sukuk is a KSh 3 billion Islamic secured residential-based security issued by the Linzi FinCo Trust, a common law unincorporated trust. The bond has a maturity period of 15 years and offers an internal rate of return of 11.13%. Sukuk, also known as Islamic bonds, are financial instruments that comply with Shari’ah principles, which prohibit interest…
Airbnb Ireland UC (Airbnb) has announced that the Kenya Revenue Authority (KRA) has asked the firm for information about transactions done by the homestays in Kenya. Airbnb Ireland is the data controller of the personal data of all users of Airbnb in Kenya. According to a statement by the Irish company, KRA wants them to share a limited amount of data about historical transactions that happened on the Airbnb platform from January 1, 2021, to December 31, 2022. “KRA has issued an exchange of information request to the Irish Tax Authority (Irish Revenue) seeking certain information on Kenya hosts, and…
Kenya’s President William Ruto has assured the public and the markets that the country will be able to pay the first $300 million, or KES 500 billion, installment of the $2 billion Eurobond debt that matures next year. He said that the government has secured enough funds to meet its debt obligations and avoid default. While addressing Parliament on Thursday, President Ruto said that the country has made significant progress in mobilizing resources to service its debt. “Our efforts to stabilise the situation have yielded such progress that next month, in December, we will be able to settle the first…
itel, the global leader in smart life, has announced the upcoming launch of its flagship curved-screen smartphone, the itel S23+, in Kenya. itel S23+ features a stunning 6.78-inch FHD+ AMOLED curved screen that wraps around the edges, creating a captivating visual experience. The screen has a 59-degree curvature and a 93% ultra-high screen-to-body ratio, offering immersive views for users. The itel S23+ also boasts an impressive storage capacity, with up to 16 GB of EF RAM and 2 x 256GB of interlaced storage. Its Extended RAM technology uses an extra 8GB from the ROM, allowing smooth multitasking between up to…
Swiss-Belhotel International, a Hong Kong-based hotel management company, has announced its partnership with two Nairobi hotels: Nairobi Safari Club and Emory Hotel in Kileleshwa. The deal is part of the company’s expansion strategy in Africa and comes amid the recovery of the tourism sector from the COVID-19 pandemic. Nairobi Safari Club, which has 146 rooms and conferencing facilities, will be rebranded as Nairobi Safari Club by Swiss-Belhotel. The hotel’s custodians, Claire Njeri and Lilian Githunguri, said they are pleased to work with Swiss-Belhotel International, which shares their vision of delivering a world-class city hotel. “We are pleased to announce the…