Author: Khusoko

East African Breweries Limited (EABL) on Thursday said it has appointed Mrs. Jane Karuku as the new Group Managing Director and Mr. John Musunga as Managing Director for its Kenyan subsidiary, KBL. The appointments of Mrs. Karuku and Mr. Cowan will take effect from 1st January 2021 and Mr. Musunga’s appointment will take effect by 1st March 2021. Mrs Karuku replaces Mr Andrew Cowan who has been in the EABL business for four and a half years.  Mr. Cowan is taking up a new role in Diageo’s global business as Managing Director for Africa Regional Markets. He will remain a…

Ms Ory A. Okolloh has resigned as an Independent Non-Executive Director from the board of Stanbic Holdings Plc. Her resignation took effect Wednesday. However, she will remain as chair of Stanbic Kenya Foundation board. The foundation has a mandate of catalyzing inclusive Social Economic growth and promoting Environmental/Climate awareness as avenues to create sustainable businesses in Kenya and South Sudan economies in line with the Sustainable Development Goals. She serves as a Non-Executive Director on the Boards of several organizations including the Thomson Reuters Founders Share Company, East African Breweries Limited, Stanbic Holdings Plc and Stanbic Bank Kenya, the Board of…

Telkom Kenya announced new appointments to its leadership team. The telco has appointed Claire Munene and Saddiq Mwai to join as the new Director, Customer Experience, and the Director of Digital Financial Services, respectively, within the Telkom Consumer Service Delivery Unit, with Elam Muchira, joining as Director, Internal Audit. Claire has over 14 years’ experience in Customer Experience, with a focus on the telecommunications and banking sectors. Prior to joining Telkom, she served as the Vice President – Partnerships at Ajua – Africa’s first Integrated Customer Experience Company. She has also served as HOD, Customer Value Management at Safaricom. While…

British American Tobacco Kenya (BAT Kenya) on Monday said its Managing Director Mrs. Beverly Spencer-Obatoyinbo has submitted her resignation citing personal reasons. Her resignation will effective 31st December 2020 after serving for nearly 4 years in the position. Following the resignation, the company has appointed Mr Crispin Achola as the new Managing Director effective 1st January 2021. In a statement to investors, BAT Kenya noted that Mrs. Beverly had completed her assignment and she will continue to serve in advisory capacity “for a period of time to ensure a smooth transition”. Before his appointment, Achola served as the General Manager…

Kenya’s financial system remains sound albeit potential negative effects of Covid-19 pandemic on assets quality and overall performance metrics, the Central Bank said in a new report. The Kenya Financial Stability Report, Issue No 11, published by Central Bank of Kenya, Capital Markets Authority, Insurance Regulatory Authority, and Sacco Societies Regulatory Authority, will, however, depend on the pandemic’s intensity and duration. “Overall, the banking industry has sufficient capital buffers to withstand the COVID-19 pandemic shock, supported by the mitigation measures put in place by the Government and financial institutions,” the report reads. The Kenya Banking Sector Charter of 2019 entrenches…

Stanbic Bank Kenya on Friday said it has opened two new branches, taking the total number across the country to 32. The lender said the expansion in Malindi and Changamwe is part of its financial inclusion strategy that caters to the needs of the Small and Medium-sized Enterprises (SMEs) and the unbanked in the region. Stanbic Bank Head of Personal and Business banking Maurice Matumo said, “The new space will see clients whose business are mostly cash-based, access banking services 24/7 with the two cash deposit machines in place as well as an ATM.” Other available products include Mjeki designed…