Author: Khusoko

East African Breweries Limited (EABL) posted a 39 percent drop in net profit to KSh7 billion for the year ended June 2020 with net sales for the second half of the year dropping by 29 percent. This is from KShs 11.5 billion in the previous year. The brewer said its second-half decline was due to the impact of the Covid-19 pandemic which saw containment measures implemented across East Africa from late March 2020.  The pandemic impacted EABL’s business performance after three consecutive double-digit halves of growth, with profit for the year declining by 39% to KShs 7 billion from KShs…

As the pandemic rages on, the chance to capitalize on the growing student demographics by leveraging local insights to provide high-quality accommodation in the right location at affordable costs remains a real opportunity for residential investors in Kenya. The COVID-19 pandemic has put into sharp focus the expanded skill set now necessary for real estate success.  To reach fruition, real estate projects now require advanced financial acumen and support as illustrated by Kenya’s innovative venture into the student housing market earlier on in the year. Student housing has emerged as one of the strongest investment cases in East African real…

Waeni Ngea has been named Company Secretary of Bamburi Cement effective 25th July 2020. She takes over from Betty Kanyagia who resigned. Waeni is a practicing advocate experienced in legal and corporate governance matters and recently joined the firm as its Head of Legal & Compliance. Prior to joining the firm, she worked with British American Tobacco Kenya as head of Legal and Company Secretary from April 2018.  She has also been with Unilever Kenya Limited as Legal Counsel, supporting the East African region. She holds a Bachelor of Law degree(LL.B) from the University of Nairobi and a Diploma in…

Over 240 university students benefitted from 6 days of online Huawei 5G training as part of the firm’s broader efforts to prepare the country to take advantage of this new transformative technology. As a leader in 5G, Huawei identified a need to create a course to give students in Kenya the tools to understand and navigate this technology.  Some of the topics covered included 5G architecture, different deployment scenarios, the application uses, and challenges targeting. This was conducted by Huawei global specialist Ding Yajie. The students conducted a 2-hour interactive course, 90 minutes of lectures, and 30 minutes of Q&A each…

Earlier this month, the African Union (AU) observed the 4th annual African Anti-Corruption Day. The day was established in commemoration of the AU’s Convention on Preventing and Combating Corruption, which was adopted on July 11, 2003. This year’s theme was ‘Fighting Corruption through Effective and Efficient Judicial Systems’. What does this look like in the era of COVID-19 when large amounts of aid and assistance are being distributed to countries across the continent? Africa, like the rest of the world, is fighting the pandemic and its systems and infrastructure have been put to the test. With pre-existing and long-standing underlying…

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…