Author: Khusoko

Kenya’s forex reserves continued to decline in the week ended  September 3 by KSh11 billion to KSh977.1 billion. According to the latest CBK weekly bulletin, the reserves fell to $8.883billion(KSh977.1billion) from $8.986 billion (KSh988.4 billion) the previous week, a KSh11.3 billion decline. “The reserves are equivalent of 5.43 months of import cover. This meets the CBK’s statutory requirement to endeavor to maintain at least 4 months of import cover, and the EAC region’s convergence criteria of 4.5 months of import cover,” the Central bank said. Cytonn Investments notes that from  August, the Kenya Shilling depreciated by 1.2% against the US Dollar to close…

Safaricom Foundation handed over an Endoscopic Ear Surgery equipment worth Kshs 3,859,293 to Operation Ear Drop Kenya (ODE-K) to support outreach programmes for the hearing impaired. The ceremony took place at Kenyatta University Teaching, Referral & Research Hospital (KUTRRH) during a free ear surgical camp which has been ongoing since Monday, 30th August. The partnership aims to provide preventive, surgical and rehabilitative services to the hearing impaired Kenyans who are unable to access these services due to financial problems, unavailability of specialized services in their areas and lack of appropriately trained health workers. At least 240 people in eight counties with…

Jonas Mushosho, former Chief Executive Officer at Old Mutual Zimbabwe, has joined Equity Group’s Board of Directors. He is currently a Director at Brooks & Oracle, a council member at Zimbabwe Open University and serves as a non-executive director at Delta Corporation. “We are delighted to bring on board Jonas as a new Non-Executive Director to the Group board. He brings a wealth of broad executive leadership experience in leading strategy implementation in a multi-national environment, which will be key as we seek to strengthen our regional subsidiaries,” Equity Group Chairman Prof. Isaac Macharia said. He replaces Christopher Newson following…

The Board of Directors of the East African Safari Classic Rally on Friday said Ms Lynn Tundo had resigned as the Managing Director, with effect from 2nd September 2021. Ms Tundo was serving as the Executive Managing Director since her appointment in January 2021, following the acquisition of EASCR by Minti Motorsport UK. Ms Tundo’s resignation follows the marathon rally’s announcement of its postponement to early next year, from its scheduled date of 1st November 2021, due to the prevailing COVID-19 travel restrictions which hindered participants from jetting in to take part in the iconic rally. “This role has been…

The Board of Directors of Jambojet on Thursday said Karanja Ndegwa has been appointed as its Chief Executive Officer and Managing Director. Ndegwa, who has been in an acting capacity since April 2020, was previously the Chief Financial Officer of the airline. Prior to that, he was the airline’s, Chief Financial Officer. He takes over from Mr Allan Kilavuka, who was appointed the Kenya Airways Plc Group Managing Director and Chief Executive Officer. “Through his leadership, we are confident that he is best suited to take the airline to the next level in terms of growth and sustainability,” said Vincent…

It is forecast that by 2025, smartphone reach in sub-Saharan Africa will increase by almost 70%.