South African retailer Shoprite has extended its presence in the Kenyan market after opening a second store in Garden City along Thika Superhighway. The 3,572 metres squared operating space at Garden City will have in-store fresh food departments including a Meat Market, Hot & Cold Foods Deli, Bakery and Fresh Fruit and Vegetables, according to Branch Manager Kevin Waweru They opened their first supermarket in Westgate last December and plan to open two more this year. One will be in Mombasa and the other will be in an unnamed location in Nairobi. RELATED: Kenyan market adopts formal retail as foreign…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Kenya’s President Uhuru Kenyatta’s Twitter and Facebook accounts were on Friday morning deleted in what State House claim was a result of an ‘unauthorized access.’ “On account of unauthorized access to the official social media handles of H.E the President of the Republic of Kenya, Uhuru Kenyatta.All official social media handles for the President have been temporarily suspended to allow for the necessary remedial measures to be undertaken,” said Nzioka Waita, Chief Of Staff, Office of The President. https://twitter.com/NziokaWaita/status/1108993035638136832 Before the suspension, his account had tweeted, “If you are corrupt we will fight you. You can be my brother or…
Barclays Bank of Kenya has frozen applications for safe deposit boxes following the discovery seizure of fake money and gold inside its Queensway branch in Nairobi on Tuesday, March 19. Jeremy Awori, the banks’ Chief executive in a statement said the bank was also reviewing the existing safe boxes as “an extra precaution.” “As an extra precaution, we have taken a decision not to take any new safe deposit boxes and are working with our clients to review the existing safe deposit boxes.” READ: What You Need to Know About Safe Deposit Boxes He further clarified that the fake 20…
Coffee grower Eaagads Limited, has announced the resignation of Ms. Frances Holliday as Director of the Company with effect from 19 March 2019. “The Board takes this opportunity to thank Ms. Holliday for her dedication, sound advice and commitment to the company,” said Mr. Evans Monari, Chairman. In 2017, the company re-elected Holliday as Director besides her term coming to an end in accordance with Article 91 of the Company’s Articles of Association. She had offered herself for re-election. The Board also announced the appointment of Ms. Kathryne Maundu as the Company Secretary in place of Mr. Sean Omondi. In…
Telkom, an integrated telecommunications provider in Kenya, has begun setting up a fibre loop for the city of Mombasa to meet the growing demand for faster data by its business and individual customers. The laying of the new metro loop will connect Mombasa, linking it to Telkom’s over 10,000-kilometer of the national backbone and the 1,000KM redundancy backbone between Mombasa and Tororo. This initiative is aimed at improving connectivity and enhance quality of service to customers. Telkom CEO Mugo Kibati said that the firm intends to set up similar fibre loops in all large towns within the country to meet…
Diamond Trust Bank (DTB) has announced a profit after tax of Ksh6.7 billion for the year ended December 31, 2018. This has been supported by Net Interest Income (NII) which grew 1.8% y/y to Ksh20.0 billion, coupled with Non-interest Revenue (NIR) that grew 3.0% y/y to Ksh 5.4 billion. The Nairobi Securities Exchange (NSE) listed bank’s operating income was up 2.0% y/y to Ksh 25.5 billion. Total operating expenses grew 8.9% y/y to Ksh 11.5 billion attributed to a 5.5% y/y rise in staff costs to Ksh 4.2Bn, while Loan Loss Provisions (LLP) declined 30.7% y/y to Ksh 3.0Bn. Deposits…