Author: Khusoko

Cash-strapped East African Portland Cement Company (EAPCC) NSE:PORT,  has issued a profit warning for its full year earnings compared to the year ended 30th June 2018. “The expected decrease is mainly attributable to increased input prices, a sluggish market as well as production challenges arising from a tight working capital position which affected the company’s ability to effectively serve its customers,” Sheila Kariuki, Company Secretary said. This is based on on the unaudited results for the period to 31st December 2018, factoring in forecasts to the end of the year and the preliminary evaluation made by the board with reference…

Kenya’s East African Seed and Seed Co. have been ranked top for playing a pivotal role in raising smallholder farmer productivity in the 2019 Access to Seeds Index for Eastern and Southern Africa. The two were placed first and second, respectively, and they have grown their activities in the region since the first index was published in 2016. “East African Seed stands out for its broad portfolio, including local crops and a large network of extension staff across multiple countries. Seed Co, originally from Zimbabwe but now headquartered in South Africa, is the African seed company with the most extensive…

The Africa Netpreneur Prize Initiative (ANPI) has appointed NINE from Nigeria, RiseUp from Egypt, and 22 On Sloane from South Africa as the official Western, Northern, and Southern Africa regional partners, respectively. The three organizations will work closely with Nailab, the continental and Eastern Africa partner, to promote the Prize in their respective regions. The ANPI is a prize competition for African entrepreneurs, founded by the Jack Ma Foundation. The Africa Netpreneur Prize Initiative (ANPI) has appointed NINE from Nigeria, RiseUp from Egypt, and 22 On Sloane from South Africa as the official Western, Northern, and Southern Africa regional partners,…

The National Social Security Fund (NSSF) has partnered with Safaricom as it embarks on a push to fully adopt cashless payments aimed at increasing the convenience and efficiency of its services. Under the initiative, NSSF will implement an entirely cashless system at all its branch network across the country. The Fund seeks to increase the convenience and efficiency of its services through the automation and digitization exercise. “The platform we are launching today, will make contributing to NSSF easy and effortless, We are aware that we have an enormous task ahead in meeting public expectations in our new role as…

Ms. Rosalyn Mugoh has been appointed as the Managing Director of Zamara Group, responsible for the strategic growth and expansion of the Insurance and Risk business across the continent. Sundeep Raichura, the Group CEO said Mugoh’s appointment was strategic and will strengthen the group as it seeks to efficiently execute on its strategy “While maintaining consistently high standards of service delivery to all its customers, as they scale across the continent.” Prior to her appointment, she was the head of employee benefits. Rosalyn holds a Masters in Business Administration (Strategic Management) from the University of Nairobi and a Bachelor of…

Unga Group Plc, a Kenyan-based holding company with its investments in the business of flour milling and manufacturing of human nutrition products has issued a profit warning as profit for the six months ended 31 December 2018 fell 40% to Ksh306.3 million. “Based on the company’s unaudited financial results for the first six months ended 31 December 2018 and the company’s second-half forecast, profit for the full year is likely to be at least 25% lower that prior year. “Volumes and margins declined in the human nutrition business due to increased competition and depressed consumer demand,” company secretary W Jumba said in…