Author: Khusoko

Kenya Power has appointed Vivienne Yeda as the new Chairman, Board of Directors replacing Mahboub Maalim. Yeda will be the first woman to serve as chairman of the board. Ms Yeda is the director of East African Development Bank and an expert in foreign relations law, international economic law, business operations, and financial transactions in public and private sector operations including project finance and structured finance. “We are excited and look forward to her stewardship, and that of the entire Board, as we pursue our growth journey,” Kenya Power said on Friday. Vivienne Yeda was part of the non-executive directors…

Secured loans provider Mwananchi Credit has waived penalties on loan defaults to reduce repayment burden for borrowers.  The company says the up to 100% default penalty fee waiver is aimed at cushioning customers from the adverse financial effects of the Covid-19 pandemic, which has pushed many households and businesses into the red. Most Kenyans have either lost their jobs or are contending with reduced incomes due to the economic slowdown caused by the outbreak of Coronavirus in Kenya. Most companies have scaled down their operations, while others have temporarily closed and fired employees. “With this in mind, Mwananchi Credit Limited…

Botswanan retailer Choppies Enterprises has resumed trading on the Johannesburg Stock Exchange (JSE) after a two-year hiatus. The retailer was suspended from the local bourse in September 2018 after it delayed releasing its financial results. After the extensive engagement, the JSE had agreed to lift its suspension with effect Friday, which follows its reinstatement on the BSE in July.  That reinstatement followed the publication of delayed publication of audited Group results for the years ended 30 June 2018 and 30 June 2019, as well as the interim results ended 31 December 2019. On 25 September 2020, the Group published the…

Lithium-Ion batteries for IoT and Edge Computing Applications through APC Smart-UPS to boost power management Schneider Electric, the global specialist in the digital transformation of energy management and automation has Increased the business-critical applications and IoT systems Lithium-ion (Li-Ion).  Li-Ion battery technology offers a host of benefits that make it an attractive and affordable option for a growing set of businesses reliant on distributed IT infrastructure are being moved closer to the edge of the network to reduce latency, enhance connectivity and improve performance.  As a result, the criticality of these distributed IT environments has become paramount to everyday business…

Kenya is engaging with the United Kingdom and the U.S  to review the trade agreements, Parliament was informed on Thursday. President Uhuru Kenyatta while delivering his 7th State of the Nation Address to Parliament is based on the “greater diplomatic goodwill and deeper international friendships” that the country is enjoying that is necessitating the discussions. “We are engaging with the United Kingdom to evolve an arrangement that will guarantee us continued access to the United Kingdom Market, following its exit from the European Union,” President Kenyatta noted. “Similarly, we are proactively consulting with the United States of America for a…

Standard Chartered Bank Kenya says it will shed 200 jobs by the end of the year as the coronavirus pandemic hits the economy. The job losses translate to 14.3 percent of its 1,397 workforce in line with its strategy of improving asset quality and a drive for efficiency on digital platforms that was initiated in 2016. “In the circumstance, the bank intends to declare redundant the employees whose roles fall off as a result of the restructuring. The impacted employees who are both in management and unionisable cadre are 200 in the retail banking, corporate banking, operations, technology and support…