Author: Khusoko

Family Bank has appointed Rebecca Mbithi as Chief Executive Officer after serving as Company Secretary and Director of Legal Services for four years. She replaces David Thuku who resigned in September last year. The Bank’s Board Chairman Wilfred Kiboro said Mbithi’s appointment is subject to approval by The Central Bank of Kenya. “Rebecca is a highly experienced professional with an extensive background in leadership in various organizations at director level specializing in law, project finance, Corporate Restructuring, Equity/Debt raising and Governance,” said Kiboro. Mbithi holds a Masters in Business Administration (Strategic Management) from United States International University and an LL.B degree…

Knight Frank LLP, the leading independent global property consultancy ’s (Y)OUR SPACE report, real estate is now a strategic priority for occupiers as the workplace represents an additional lever for business leaders in pursuit of competitive advantage. “In this respect, real estate decisions influence and reinforce an array of business priorities – from talent management, corporate and social responsibility, inclusion and diversity, to the transformation of corporate culture and brand or the restricting of business models in light of rapid technological advances,” the report states. The (Y)OUR SPACE report notes that the five themes that will shape future occupational demand…

Sistema.bio founder and Chief Executive Officer Alex Eaton is in Kenya for a two weeks tour in the country to interact with farmers and other partners in Kenya. “Kenya’s office is one of the fastest growing offices as compared to offices in other different parts of the world,” he told the media at the Nairobi Sistema offices. He said he was motivated by the job well done by the Kenyan team and cooperation from farmers in the country. The company has five offices in Kenya with approximately 100 employees. Other offices are in India, Mexico, Nicaragua, and Colombia.  In East Africa,…

The Central Bank of Kenya (CBK) says it will hold its next Monetary Policy Committee (MPC) meeting on Wednesday, March 27, 2019. In the last meeting held January, it maintained the base lending rate at 9% largely on stable macro-economic fundamentals. However, the regulator said it will revisit the issue of the interest rate cap, that capped lending rates at 4.0% above the Central Bank Rate (CBR) with an aim of having structural reforms for uplifting the growth and expansion on the MSMEs in the medium to long term. With the macroeconomic environment expected to remain stable inflation declining driven…

The Capital Markets Authority (CMA) has suspended KenolKobil’s shares on the Nairobi Securities Exchange for 12 trading days following a conclusion of a takeover offer on Monday. “The suspension from trading of the company’s shares will remain in force until March 11, 2019,” the Nairobi Securities Exchange (NSE) said in a note to investors. “All shareholders, investors and the general public are asked to take note of the suspension.” https://twitter.com/FIB_Kenya/status/1096360048777936897 The suspension will enable Rubis Energie to reconcile records and establish how many investors took up the offer. The results of the takeover will be released on 12 March 2019.

Diaspora remittances rose 17.22% in January this year compared to a similar period in 2018 according to the Central Bank of Kenya (CBK) data. “The inflows improved from KSh20.94 billion in January 2018 to KSh24.55 billion in January 2019, an increase of 17%. The 12-month cumulative inflows to January increased to USD 2,733 million from USD 2,013 million in the 12 months to January 2018, reflecting a 36% growth.” North America, Europe and the rest of the world accounted for 44 %, 34%, and 22%, respectively, of the total remittances in January 2019. In 2018, Kenyans in the diaspora remitted…