Author: Khusoko

Equity Bank Kenya has received a $50 million loan facility from IFC, a member of the World Bank Group.  The loan is intended to help it increase working capital and trade-related lending to its small and medium-sized enterprise clients facing COVID-19 related challenges. “IFC’s loan, part of our business continuity management plan, will help Equity Bank extend much-needed support to our clients, particularly to SMEs in sectors hit hard by COVID-19. We have purposed to support and walk with them so that they can survive during this crisis, recover, and thrive after it,” said Equity Group CEO, James Mwangi. “I…

Kenya Power and Lighting Company Ltd. announced on Monday that it had appointed five directors to its board with immediate effect.   They are Abdulrazaq Ali, Elizabeth A. Rogo, Caroline Kittony-Waiyaki, Vivienne A. Yeda and Sachen Gudka. This is after the resignation of five other directors a few weeks ago. “The Board congratulates the new Directors on their respective appointments and looks forward to benefitting from their vast experience at a time when the Company is rolling out its growth strategy,” Company Secretary Imelda Bore said in a statement. According to Kenya Power’s Membership rules, the Nomination Committee of the Board…

The Kenya Association of Manufacturers (KAM) has appointed Mucai Kunyiha as its new Chairperson, taking over from Sachen Gudka.  Mucai is the Group Managing Director for Cooper K-Brands, an animal health company in East and Central Africa, previously served as the KAM’s vice-chair from July 2018. The New Chairman will focus on advocating for the development of coherent policies that support industrial growth, pushing for predictability in fiscal and legislative regulations and support for SMEs through policy advocacy and championing Kenya’s circular economy through enhanced partnerships, driving the waste management agenda through the Kenya Plastic Action Plan. “Resilience is going…

The latest report from GSA shows, by the end of May 2020, 386 operators globally had announced they were investing in 5G, among which 81 operators in 42 countries/territories launched 5G commercial services, including the most recent MTN 5G launch in South Africa.  5G, the fifth generation of mobile networks, will enable enhanced mobile broadband, mission-critical communications, and massive Internet of Things (IoT) communications between equipment.  However, today the immediate need is for online, digital communications, which can easily be provided by 4G or LTE networks.  The good news is that LTE is also the foundation for the revolutionary move…

IBM (NYSE: IBM), an American multinational technology company has appointed Angela Kyerematen-Jimoh as Regional Head for North, East, and West Africa.  She becomes the first woman to hold the position. Prior to her appointment, Kyerematen-Jimoh served as the Chief of Staff to the Senior VP of Global Markets and Sales in IBM’s corporate headquarters in New York.  She was also the first female Country Director in Africa, leading the company’s operations in Ghana. “Angela takes up this position with a wealth of experience from 20 years of extensive working in the financial services and technology industries in Africa and Europe.…

Kenya’s Director of Public Prosecutions has dropped murder charges against the late Keroche heiress Tecra Muigai’s boyfriend Omar Lali and instead, opted to open an inquest that led to her death. Lali was set free Thursday by the High Court in Garsen after the Prosecution dropped the murder case against him. https://twitter.com/Ali_Manzu/status/1283762943738490880?s=20 Tecra died at the Nairobi Hospital on May 6. She had been admitted to the facility since April 23 after being involved in an ‘accident’ at a Holiday House in Lamu.  An autopsy revealed that she died from injuries sustained from a fall which was consistent with Omar…