Author: Khusoko

98 per cent of Kenyans believe nations must work together to combat global challenges, a new survey commissioned by Expo 2020 Dubai shows. The 2021 survey of more than 22,000 people across 24 countries tracked sentiment in a world irrevocably changed by COVID-19. Conducted in partnership with YouGov, it followed a similar study carried out in 2019, before the pandemic. Greater unity, collaboration and knowledge exchange was reflected throughout the study with three-quarters saying they believe greater cooperation between individuals and communities can help shape a more prosperous future. Four in five said greater knowledge sharing is imperative to shaping…

Acorn Investment Management Limited has been admitted to the Capital Markets Authority’s (CMA) regulatory sandbox for one year. Acorn Investment Management Limited (AIML) is a wholly-owned subsidiary of Acorn Holdings Limited (AHL). Acorns’ admission is attributed to the development of its investment platform dubbed ‘Vuka’ which aggregates retail investors into asset-backed financial products such as real estate through a regulated and transparent structure. It is currently the REIT Manager for Acorn Student Accommodation Development REIT (Acorn D-REIT), and the Acorn Student Accommodation Income REIT (Acorn I-REIT) quoted on the Unquoted Securities Platform of the Nairobi Securities Exchange(NSE). “The Authority is…

Kenya Airways narrowed its net loss by 20 per cent to Ksh 11.5 billion in the first half of FY 2022 on a year on year basis on account of lower exceptional expenses and higher cargo volumes. During the period, passenger revenue declined by 17 per cent to KSh 20.2 Billion, Cargo revenues increased by 60 per cent due to a strong focus on freight operations. It reported a decline of 10 per cent in total operating costs, with direct operating costs declining by 13 per cent. The Airline recorded an operating loss margin from KSh 8.4 Billion to KSh…

Shoprite says it will exit Uganda and Madagascar to focus on the South African market. The South African retailer already closed shop in Nigeria, Tanzania and Kenya. In a trading statement on Monday, Shoprite said, “In line with the group’s non-South Africa review process, our operations in Madagascar and Uganda have been classified as discontinued.” The group operates 10 stores in Madagascar and has five branches in Uganda, employing 300 Ugandans.

Nothing frustrates one like buying an electronic, using one’s hard-earned cash, and when you arrive in the house, it refuses to work. It has a manufacturing defect. This is called “Dead On Arrival.” Dead on Arrival is a term that indicates that an item or merchandise received by a buyer was found to have a manufacturing defect on arrival When an item is “dead on arrival”, so many things go on in your mind. You start asking yourself questions like; will the seller accept this item back? Will the seller remember my face? Will the seller accept to exchange this…

Standard Chartered Bank Kenya on Monday reported a nearly 50 per cent growth in its net profit to KSh4.8 billion in the period ended June compared to KSh3.2 billion a year earlier. This was attributed to lower operating expenses and higher non-interest income. “Our first half of 2021 was one of recovery. Lockdowns, both locally and globally of various forms have come and been relaxed affecting economic activity,” Kariuki Ngari, StanChart’s chief executive, said in a statement. “Profit before tax recovered strongly from last year, helped by strong underlying business momentum, improved loan impairments and operating cost efficiencies.” The bank’s…