Under company laws, directors have a duty to make decisions aimed at enhancing operational efficiencies and profitability. Indeed, the first task of every director is to comply with corporate governance policies, relevant applicable laws and adherence to rules stipulated by regulatory bodies during the execution of their mandate. Ironically, the same law allows directors to be held liable for decisions deemed to be harmful to their company, employees or shareholders. Section 194(2) of the Companies Act, 2015 expressly nullifies ‘a provision that purports to exempt a director of a company, to any extent, from any liability that would otherwise attach…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Thrombosis, more commonly known as blood clotting, is a dangerous and life-threatening condition. Globally, one in four people dies from conditions caused by thrombosis, making it a leading cause of death worldwide. Concerningly, with technological advances and shifting work patterns, many of us lead increasingly sedentary lifestyles, increasing our risk of thrombosis. Do you sit at a desk for work or enjoy sitting and watching TV in the evening? You could be at high risk. This is because when we sit for long periods of time, it enables the pooling of blood in the veins, leading to clot formation, known…
The Communications Authority of Kenya (CA) has released a list of its regional offices to make it easier for Kenyans to access its services. “These offices are the first port of call for various stakeholders in the regions, providing convenient means of accessing the Authority’s services,” the authority said in a statement seen by Khusoko. The first office was set up in Eldoret in August 2014, followed by Mombasa, Nyeri, and Kisumu. The Coast Region office is based on the 3rd floor of the NSSF Building in Mombasa, serving six counties – Kilifi, Kwale, Tana River, Taita Taveta, and Lamu.…
Several Russian companies involved in diamond mining in Zimbabwe have recently been sold for 90 million US dollars. These companies have licenses to mine in Bulawayo. The deal was made in a rush, leading to a lower price paid by the unidentified buyer. It is unclear whether the change in ownership will affect the operation of the mines. Zimbabwe and Russia have been developing cooperation on both the governmental and private investment levels. Diamond mining is a crucial sector of Zimbabwe’s economy, with the country being the world’s seventh-largest producer of diamonds in 2022. View Larger Map | Get…
TransUnion Africa has appointed Aron Kamakil as the Chief Information Officer (CIO) for its operations in Kenya, Zambia, Botswana, and Malawi. Kamakil brings a wealth of experience in technology and financial services, having previously served as the CIO for Retail Banking at NCBA Group. In his new role, he will support TransUnion’s mission of Information for Good, helping businesses and consumers transact with confidence through the effective use of data insights and technology. He holds a BSc degree in Information Technology from Edith Cowan University Australia and numerous technical and leadership certifications. Transunion Kenya is one of the three credit…
Estonian food delivery and ride-hailing startup Bolt has named Mikko Salovaara as its chief financial officer. Mikko Salovaara, Bolt’s incoming Chief Financial Officer, said “In an industry where it is notoriously hard to operate profitably, Bolt stands head and shoulders above its competitors.” “The culture of maximising operational efficiency which was instilled by Markus ten years ago continues to guide the business today and has left Bolt well-positioned to reach and maintain long-term profitability.” “I look forward to being part of this next stage in Bolt’s journey as the business prepares for IPO.” Bolt, the mobility company, boasts a customer…