Author: Khusoko

Sidian Bank rode a recovery in pandemic-hit Kenyan markets to post a stronger-than-expected consolidated net profit of KSh369 million for the year ended September 30, 2021, compared to a profit of KSh8 million in a similar period last year. The bank said this was due to increased lending to support economic recovery especially for business owners given the challenges they have faced since 2020 from the onset of the Covid-19 pandemic. “We exist because of our customers and we are grateful that they continue to choose Sidian Bank as their trusted financial partner,” Chege Thumbi Sidian Bank’s CEO said in…

When a medical emergency hits, it pays no attention to how prepared you are. It hits and it needs your attention and that is it. In most cases, when an emergency hits, the first thing someone thinks is a private car or an ambulance. With the state of the Kenyan roads, and the massive traffic jams in cities like Nairobi, sometimes getting someone to the hospital for emergency treatment is an extreme sport. So many lives have been lost on the road as the driver tries to beat the jam or find out the location of the hospital. It is…

Jumia is Africa’s leading e-commerce platform, on Tuesday announced that Betty Mwangi will succeed Sam Chappatte as CEO.  Maina will focus on accelerating corporate growth as the company continues to expand its already strong position as the number one shopping online platform. Sacha Poignonnec and Jeremy Hodara, co-CEOs of Jumia extended their appreciation to Chappatte after working for them for seven years, five of which were spent as Jumia Kenya’s CEO.  “We have achieved tremendous progress under his leadership, and wish him the very best in his new endeavors,” they said. Sacha Poignonnec and Jeremy Hodara, co-CEOs of Jumia, said,…

Edelman Africa, a pan-African communications consultancy, has named Corazon Sefu Wandimi as the new managing director for its Kenya office. This is part of the firm’s plans to strengthen local connections through global best practices. She takes the role from Portia Gibbs, who has worked in the Kenyan office since its inception in February 2020.  “Wandimi’s strong profile in the public relations and communications sector has made her a natural fit for the position,” the firm said in an emailed statement. It added that “Wandimi brings a wealth of experience and a significant network of contacts to her new role.”…

Duka is a common term in Kenya. It simply means shop. The term is used to refer to micro-retailers in Kenya who sell goods and services to Kenyans. These micro-retailers sell their products in small quantities and at affordable prices, making them the darling of many, especially the low-income households. In Kenya, micro retailers supply nearly 80 per cent of all consumer goods sold to low-income communities. The micro and small-enterprise (MSME) sectors are incredibly important, accounting for 30 per cent of Kenya’s GDP and employing more than 8 million people directly and indirectly. Due to COVID-19, micro-retailers have taken…

The Capital Markets Authority (CMA) has set maximum and minimum share buyback price in new guidelines for listed companies. The guidelines are in line with the Companies Act, 2015, which introduced the share buyback option for publicly-traded firms. The objective is to enhance investor protection, promote liquidity and ensure transparency in share buyback transactions. “The maximum share buyback price of the shares to be purchased shall be ten per cent above the weighted price average of the shares during the period of 30 days before the day of the board resolution approving the share buyback,” part of the Guidelines on…