LG Electronics (LG) has been honored at the 72nd Annual Technology & Engineering Emmy Awards for its consumer OLED TV, renowned for its superior quality, and used for reference displays by major Hollywood movie studios. The LG OLED TV has become popular with content developers, producers and distributors worldwide thanks to its capacity to meet the high-quality standards of the professional creative community. LG Electronics Home Entertainment Company senior vice-president for R&D Nam Ho-jun said the accolade is a testament to OLED TV’s ability to deliver the best home viewing experiences, allowing customers to enjoy shows they love just as…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
East African Breweries Limited (EABL) posted a 47 per cent decline in net profit to KSh3.8 billion for the half-year ended December 2020 primarily driven by a one-off tax provision. This was also on account of excise duty increases, general price inflation, and additional costs related to digital tax stamp implementation in Uganda which impacted profitability. The performance is 53% better than the previous half (January to June 2020) that was significantly impacted by Covid-19 restrictions according to the listed brewer. “Throughout the Covid-19 crisis, we have ensured a dynamic and close connection with the consumer. Our greatest assets remain…
Google’s CEO Sundar Pichai announced on Thursday that the tech giant is committing $10 million (KSH 1 billion) to help drive economic recovery in Kenya. Part of the grant, Ksh 3 million will go towards supporting small businesses, Ksh 5 million for startups and Ksh 2 million for charity, and other investments lined up by his organization to the country. Sundar announced the grant during a virtual meeting with President Uhuru Kenyatta in an event hosted by the Corporate Council on Africa. President Kenyatta thanked Google for working closely with the Kenyan Government in driving digital transformation across the country in the 13 years of its…
CIC Insurance Group says its earnings for the financial year 2020 will be substantially lower compared to the same period in 2019. In a statement issued Thursday, the Nairobi Securities Exchange listed firm says it experienced a tough operating environment in 2020 that resulted in lower than expected returns. “With the tough operating environment, performance of the stock market has led to reduced returns from the equity investments,” it says adding that “Property market has been tight with limited opportunities to dispose properties and support in offsetting financial charges.” The firm posted Ksh 386 million profit before tax in 2019,…
Virtual BYOB Live summit to be held live on BLAZE Kenya’s Facebook, and YouTube platforms BLAZE by Safaricom will Thursday host its second BYOB Live summit beginning from 8 pm East African time. Themed around ‘reinvention’, the summit seeks to inspire the audience to have a disruptive mindset that will enable them to pivot into new areas and see opportunity in challenge. “Mentorship is the key to youth empowerment, it is like sending a ladder down to help someone up. I look forward to connecting and interacting with young people through platforms such as BYOB Live, where we can avail the mentorship,…
Everyone agrees that it is crucial to saving, but no focus is given as to why we should save which I think is very important. Having a strong reason to do something gives one motivation and keeps one on track. So why should we save? Savings are important for several reasons. Safety net First, they give one a safety net in case of an emergency such as a health problem that an insurance health policy does not cover or a job loss. It is advisable to build up your savings to at least cover your expenses for 6 months. Investment…