Paul Russo has been confirmed the new Managing Director of National Bank of Kenya by KCB Group ending Wilfred Musau’s tenure. Musau who has been the Managing Director of the National Bank of Kenya has been redeployed to a new role at KCB to support the integration of the two lenders. Musau joined National Bank as the Director Retail and Premium Banking. He was later appointed as the acting MD & CEO of National Bank between September 2015 and October 2016. “I have full confidence that Mr. Russo will steer NBK in the right direction and succeed in the integration…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Kenya’s Jomo Kenyatta International Airport (JKIA) emerged second in the ‘Fastest Growing Airports in handling cargo. The Airport Council International (ACI) World Air Traffic Report indicates JKIA (Handling over 250,000 metric tons of air cargo)’ category as it handled over 342,000 metric tons of air cargo in 2018 indicating a 25% increase from 2017. Kenya Airports Authority (KAA) credits the growth to increase in cargo traffic to and from Europe, Asia, America, China, and Australia. “This award validates our ongoing efforts in improving facilities at the JKIA Cargo area.” KAA MD, Jonny Andersen noted. “This is an exciting time for…
Low cost carrier, Jambo Jet, a subsidiary of Kenya Airways has received approval to commence flights to Kigali, Rwanda as part of its regional expansion strategy Jambojet chief executive Allan Kivaluka said apart from the clearance by the Rwanda Civil Aviation Authority, the airline has also received rights fly to Goma in Democratic Republic of Congo, Mogadishu in Somalia and Bujumbura in Burundi. “We have been given the go-ahead by Kenya Civil Aviation Authority to fly to many of these destinations. We are waiting for the rights to Juba in South Sudan, Comoros, Mwanza and Kilimanjaro in Tanzania and Zanzibar,”…
Kenya Airways is suspending direct flights from Jomo Kenyatta International Airport to Libreville, Gabon, and Cotonou, Benin starting next month. According to the airline, travelers who will be traveling to the two destinations, beyond October 14 will be rerouted or rebooked through its partner airlines. “We have made the necessary arrangements to continue serving our customers who had made forward bookings through our existing cooperation with partner airlines to ensure no disruption to their travel,” said Kenya Airways Chief Commercial Officer, Ursula Silling. The decision to suspend flights to Libreville & Cotonou is in line with its strategy to align…
STREAM is the official WPP (un)conference for (un)conventional thinkers and has the world over managed to bring together hundreds of brands in this creativity and technology space. WPP-Scangroup will host the inaugural Kenyan edition of WPP STREAM, an inclusive, inspiring and collaborative event – where the best people come together to build the future. The inaugural Kenyan edition is scheduled to take place in Nairobi on 27th of September. This may be the only time in Kenya when over 100 leaders and brand creators from competing brands, will join other leaders from across the East-Africa region; to engage in this…
National Treasury has cut Kenya’s GDP growth forecast for this year to 6.0 percent from previously projected 6.2 percent, according to it’s Draft 2019 Budget Review and Outlook Paper released Thursday. “This reflects the strong growth of 6.3 percent in 2018. The 6.0 percent growth outlook will be supported by the stable macroeconomic environment, investments in the strategic areas under the “Big Four” Plan and regain in business and consumer confidence following political stability in the country.” The economic outlook takes into account the subdued performance in the agriculture and manufacturing sectors following the unfavorable weather conditions experienced in the…