Author: Khusoko

Equity Bank has appointed John Wilson as the new Group Chief Operating Officer to oversee operations at the Group level while the Bhartesh Shah will lead the Group’s Enterprise Risk Management, who was the acting COO after Polycarp Igathe left the group. Dr James Mwangi, Managing Director and CEO Equity Group Holdings Plc said, “John brings international experience and joins a team of highly talented experts who are driving our Equity 3.0 strategy that will see the Group complete digitization and virtualization of the Bank while accelerating our Pan African expansion to 15 countries by 2024. His depth of expertise…

Kenya Airports Authority Managing Director & Chief Executive Jonny Andersen will leave office at the end of September. KAA said Jonny who has been with them since November 2016 opted not to renew his contract which was due to expire on November 21st, 2019. “Jonny brought good knowledge of the industry and an ability to forge consensus among stakeholders. He has served with distinction and I wish him well in his future endeavors,” said KAA Chairman Isaac Awuondo. Mr. Awuondo continued: “During Jonny’s tenure we built a strong foundation for future growth, including strengthening our management team, improving our operations…

Kenya’s annual consumer price inflation fell off to 5.0% year-on-year in August from 6.27% July attributed to declining food prices. According to the Kenya National Bureau of Statistics on Friday, on a monthly basis, inflation was -0.90% from -0.36% in July, with the Food and Non-Alcoholic Drinks Index falling 1.89% compared with July. “The prices of significant food items including sukuma wiki (kales), potatoes, cabbages, carrots, tomatoes and maize grain loose decreased by 8.01, 7.81, 6.78, 6.01, 4.89 and 2.80 percent, respectively. Decrease in prices of these commodities outweighed observed increase in the cost of other foodstuffs, thereby causing a…

Safaricom’s interim Chief executive Michael Joseph and Esther Koimett, a Non-Executive Member of the Board, sold-off their shares in the company according to the Safaricom Annual Report 2019. In the annual report, both sold all the shares held in the company in the course of the Telco’s financial year to March 2019. Joseph sold 1,178,600 shares and Koimett 517,600 that were held in 2018. As a result, both will miss out on the total dividend of KSh1.87 per share announced at the 11th Annual General Meeting.  Koimett, who until recently was the Investment Secretary at the National Treasury, was the…

Quick Mart, a Kenyan homegrown supermarket has opted for a fresh food concept for its stores to grow its revenues. The retailer has adopted this model at its 11th store, Quickmart Waiyaki way. The store leaves more space to fresh produce and household and personal care products “We are laying focus on the fresh food concept since it has high gross profit margins compared with other dry groceries,” said Quickmart Marketing Manager, Betty Wamaitha.

Egyptian bus-hailing service Swvl plans to inject $15 million (Ksh 1.5 billion) into its Kenyan operations to improving its current operations. Swvl founded by three young Egyptian entrepreneurs: Mostafa Kandil, the CEO, Mahmoud Nouh, the COO and Ahmed Sabbah, the CTO. Kandil made the announcement in Nairobi stating that they are excited to provide a solution that makes the lives of Kenyans easier. “Kenya is a market with a need for a stable solution for the perennial traffic snarl-ups and SWVL believes that we can be of great benefit to the local consumer and the transport sector as a whole,”…