Author: Khusoko

Stanbic Holdings bank reported that its net profit after tax dropped by 37.5 percent to Ksh 2.5 billion compared to Ksh 4.0 billion in its half-year results attributed to a decline in interest income and non-interest income. Net interest income dropped by 5.9 percent to KSh6.3 billion. Non-interest income dropped by 19 percent to KSh4.96 billion. Loan loss provisions increased by 84.8 percent to Ksh1.7 billion from Ksh.0.9Bn to cover for potential loan losses in the wake of the COVID-19 pandemic that has increased expected credit losses due to reduced borrower’s ability to pay for their loans. Stanbic Bank saw…

Chelsea Midfielder Willian Borges da Silva has joined Arsenal on a free transfer.  The 32-year-old signed a £220,000-per-week, three-year deal, according to the Arsenal Chelsea had offered Willian a new deal but was unwilling to match what the Gunners had on the table. https://twitter.com/willianborges88/status/1294317864871223297?s=20 “I believe he’s a player that can really make a difference for us,” said Arsenal boss Mikel Arteta. “We had a clear intention to strengthen the attacking midfielder and the winger positions.” “He is a player that gives us a lot of versatility – he can play in three or four different positions,” added Arteta. “He…

Former Makadara Member of Parliament (MP) Benson Mutura was on Friday unanimously elected and sworn in as the Speaker of the Nairobi County Assembly. Mutura was elected with 99 votes out of the 122 MCAs defeating five candidates: Abdi Ali Abdi, Ken Ng’ondi, Washington Makodingo, Allan Chacha Mang’era and Mike Obonyo Guoro who got no votes. “I hereby declare Mr Benson Mutura the new Nairobi County Assembly Speaker having attained more than the required two-thirds majority votes,” acting Speaker John Kamangu said. Mutura takes over the seat from Beatrice Elachi who resigned on Wednesday. “ I understand the roles of…

James Mburu, Commissioner General of Kenya Revenue Authority (KRA), has been given an extension for another two years, to June 2024. Treasury Cabinet Secretary Ukur Yatani approved the extension of Mburu’s term through a gazette notice published on Wednesday. He will now serve at KRA’s helm for five years, after recently completing his three-year term. Githii Mburu was appointed to the post on June 6 replacing John Njiraini who had served on the role since March 2012. “The board felt three years are not enough to work effectively. Again, we are doing what regional countries have. Uganda, Tanzania, and Rwanda’s…

More than a third of small businesses on Facebook in Kenya have been forced to shut down as a result of the COVID-19 pandemic, according to the Global State of Small Business Report released by Facebook in collaboration with the World Bank and Organisation for Economic Co-operation and Development (OECD). The report indicates that only 62% of small and medium-sized businesses (SMBs) on Facebook sampled in Kenya remain operational or are engaging in any revenue-generating activities. The report derived from the Future of Business Survey was conducted between January and May this year and sampled 30,000 small business leaders in over…

Beatrice Gachenge, seasoned integrated marketing, and communications professional is the new Novartis head of Communication for Sub-Saharan Africa. Novartis is a global healthcare company based in Switzerland that provides solutions to address the evolving needs of patients worldwide. Beatrice brings extensive experience in strategy in media relations, corporate communication, public relations, and issues management. Other areas of specialization include Business Development, Change and Stakeholder Management, Media Relations, Training and Engagement as well as Events, Brand, and Content Development. Before her position in Novartis, the Beatrice Gachenge managed McKinsey’s External Relations for Africa.  She was also IBM’s Communication leader for East…