Imperial Bank depositors can now access 12.5% of their deposits after the Central Bank of Kenya and the Kenya Deposit Insurance Company (KDIC) accepted the final offer from Kenya Commercial Bank (KCB) group. The Central Bank of Kenya (CBK) and Kenya Deposit Insurance Corporation (KDIC) announced the acceptance of the binding offer on December 11, 2018. In a statement, KDIC and CBK said the depositors would access the funds in another two weeks subject to verification. “The accepted Final Offer includes a further recovery of 19.7 percent of eligible depositor balances remaining at IBLR. CBK and KDIC assess that KCB’s…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Chukua Selfie, a Menstar coalition campaign encouraging 18-24-year-old men to know their HIV status through self-test, has entered into a partnership with the Kenya Rugby Union as a Shirt sponsor for the two legs of the World Rugby Sevens Series 2018/19 season. The Kshs.14million deal will see Chukua Selfie sponsor the Hong Kong/Singapore and London/Paris legs. This partnership will see the Shujaa front of shirt branded with the Chukua Selfie. Chukua Selfie Brand representative Eric Achola said: “We chose rugby because it is widely followed by our target audience, we want to remind all the young men that even as…
President Uhuru Kenyatta said Kenya’s economic growth in 2019 will rise to 6.3% from an estimated 6.1% last year. In a state of the nation address to the National Assembly and the Senate, the President said: “In 2019, we expect an even stronger growth of 6.3%, reflecting continued improvement in the business environment, momentum associated with execution of the Big Four Agenda, and sustained macroeconomic stability.” In 2018, provisional estimates show the economy grew by 6.1% largely driven by the wholesale and retail trade, real estate, information and communication, and tourism. “It is worth noting that, despite the challenges facing…
As part of efforts to ensure its subscribers enjoy an entertaining Easter holidays Pay-TV vendor StarTimes has reduced subscription rates by half and added six more channels in what was described as ‘extending value for money to our Classic bouquet subscribers’. StarTimes director of marketing Japhet Akhulia said the changes are expected to lead to a stronger subscriber offer in terms of price and content. “We have made strategic improvements by adding six more channels key in extending value for money to our Classic bouquet subscribers,” he said on Wednesday. “These strategic changes are mainly geared towards growing our subscriber…
Public relations agency Ogilvy Africa and its clients won 11 out of 37 awards at the 2019 African SABRE Awards. Its clients include Safaricom, Coca-Cola, Kenya Airways, UNICEF and the Government of Ghana, Kosmos Energy Limited, and Gold Fields Ghana. The firm carried the day in five categories with Chapa Dimba na Safaricom campaign winning in the Marketing to Consumer (New Product) category, BLAZE by Safaricom taking the lead in the Marketing to Consumers (Existing Product) category and Kenya Airways topping the Consumer Products/Services category thanks to the launch of direct flight from Nairobi to New York. Ogilvy Ghana won in…
The Ibuka Program is designed for aspirational companies that are driven by a firm commitment to embrace impactful changes that enhance their growth. Mombasa based real estate listing company, My Space Properties has been admitted at the Nairobi Securities Exchange (NSE) under the Ibuka incubator programme. My Space Properties becomes the fifth enterprise to be admitted in the incubation and acceleration program designed by NSE in 2016 for aspirational companies with growth prospects. “This program will enable Myspace Properties to enhance its growth and accelerate its expansion into a regional real estate company in Kenya enabling it to take advantage of…