Business Local News 

OPPO announces three initiatives to co-build a new intelligent service ecosystem with developers and partners

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6,083 total views, 69 views today BY CORRESPONDENT,NAIROBI,21ST DEC 2019- OPPO today kicked off its 2019 OPPO Developer Conference (ODC) in Beijing under the theme of “Innovation and Intelligence”, unveiling a range of initiatives to co-build a new intelligent service ecosystem with developers and partners. The three new initiatives announced at the conference include the enhanced developer support program “Gravity Plan 2.0”, for which OPPO will allocate RMB 1 billion (about USD $143 million) in 2020, the “Five System-level Capability Exposure Engines” and the “IoT Enablement Plan”. In the past year, OPPO has…

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Business 

The national carrier Kenya Airways issues profit warning

5,487 total views, 69 views today

5,487 total views, 69 views today BY JOAN WANJIKU,NAIROBI,18TH DEC 2019-Kenya Airways says earnings for the current financial year is likely to dip at least 25 percent lower than what it reported in the same period last year. Through a statement, Chairman Michael Joseph says profitability was constrained by increased competition which affected ticket pricing. Joseph further lays blame on the adoption of the new International Financial Reporting Standard in 2016 which requires significant adjustments to both profit and loss statements and balance sheets for the current year. In the first half…

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Business 

Airtel, Telkom merger nears completion as CA approves process

6,388 total views, 69 views today

6,388 total views, 69 views today BY JOAN WANJIKU,NAIROBI,13TH DEC 2019-The competition  authority of Kenya (CAK)on Friday  approved the planned merger of  two telecommunications companies Airtel Kenya and Telkom Kenya. The Authority gave its greenlight for the deal while setting out a raft of conditions including ensuring it retains a number of its employees. “The merged entity shall ensure that at least three hundred and forty nine (349) of the six hundred and seventy four (674) employees of the target are retained as follows — (a) 120 employees by the merged entity…

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Business Local News 

Aliciana Barley Variety Commercialized At Annual Event

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5,185 total views, no views today BY CORRESPONDENT,NAIROBI,12TH DEC 2019-East African Breweries Limited (EABL) has announced commercialization of the Aliciana Barley Variety a year after it was launched. The announcement was made during the Annual Field Day in Mau Narok following successful trials with farmers who have reported higher yields and greater resistance to water lodging. The Field Day, an annual event that brings together stakeholders within the barley value chain, is a key event as stakeholders converge to learn, share experiences and showcase their products and innovations. Barley is the main…

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Business Local News 

KEPSA Launches Index to Assess MSMEs Policy Framework

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1,699 total views, no views today BY CORRESPONDENT,NAIROBI,11TH DEC 2019- The Kenya Private Sector Alliance (KEPSA), the apex body of the private sector, has today launched the Micro, Small and Medium Enterprises (MSME) Policy Index to provide policymakers and market players with a tool to monitor and evaluate progress achieved in implementing policies meant to support MSMEs. The tool, developed in 2018, is part of the KEPSA SME agenda and builds on the Kenya Rising Star and Scale-Up programme (KRISP) for SME and Entrepreneurship Development in Kenya that was developed and presented…

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Business 

Sanlam General Insurance rolls out Road Assistance services

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587 total views, no views today BY CORRESPONDENT,NAIROBI,11TH DEC 2019-Sanlam General Insurance, a subsidiary of listed non-bank financial services provider Sanlam Kenya, has today launched Sanlam Road Assistance, a comprehensive private motor insurance service geared towards improving the experience of its motor insurance customers. The service which is in line with the firm’s commitment to offer solutions to customer needs will provide road assistance to all motor private – comprehensive customers. This includes, on spot accident assessment, free post-accident support, towing and an optional add on for courtesy car and taxi…

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Business Local News 

Savannah Cement Boss named CEO of the year

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4,525 total views, no views today BY CORRESPONDENT,NAIROBI,30TH NOV 2019-The Kenya Institute of Management (KIM) has picked Savannah Cement CEO Mr Ronald Ndegwa as the Chief Executive Officer of the Year. The Savannah Cement Team leader was named the Overall CEO of the Year at the just concluded KIM Company of the Year Awards (COYA) gala ceremony held at a Nairobi hotel. Now on its 20th year, the KIM Company of the Year Awards (COYA) which also incorporates the SME of the Year Awards (SMOYA) seek to promote and encourage best…

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Business 

OPPO Kenya launches Reno 2F for photography, video lovers (Photos)

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1,823 total views, no views today BY CORRESPONDENT,NAIROBI,29TH NOV 2019-OPPO has officially introduced the Reno 2F series in the Kenyan market. Like its predecessor, Reno launched in July, the phone redefines the limits to users’ photo and video creativity. The phone comes with a slew of photography-enhancing features, including a 48MP quad camera setup and 5x hybrid zoom aided by 20x digital zoom. The phone’s ultra-dark mode allows users to enjoy ultra-clear night shots picking up details invisible to the human eye. The ultra-steady video bringing ‘action camera’ level exceptionally clear and…

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Business 

Co-op Bank nine-month profit hits Ksh.10.9 billion

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4,375 total views, 1 views today BY JOAN WANJIKU,NAIROBI,14TH NOV 2019-The Cooperative Bank Group has recorded  a Ksh.10.9 billion third quarter profit representing a 5.8 percent jump in earnings by the lender to the close of September. The growth in earnings by the bank is largely attributable to the increased issuance of digital loans which serve to raise income derived from fees and commissions. The lender’s non-funded income has considerably grown  by 33 percent to Ksh.14.1 billion with digital loan issuance on MCo-op Cash rising ahead of the bank’s traditional loan book…

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Business 

KCB third quarter after tax profits rise 6% to Sh19.2 billion

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3,212 total views, no views today BY CORRESPONDENT,NAIROBI,13TH NOV 2019-KCB, Kenya’s largest lender by asset base has posted a 6.67 per cent increase in after tax profit for the third quarter ending September 2019 to Sh19.2 billion. According to the lender, growth was driven by a significant boost in the bank’s loan book and non-funded income. The bank’s net loans and advances, as well as customer deposits, grew at slightly above 11 per cent to Sh486.42 billion and Sh586.72 billion respectively. “The international businesses have continued to improve while our digital…

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Business Local News 

Prices of bottled water and other non alcoholic drinks set to go up as from next week

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6,651 total views, 1 views today BY CORRESPONDENT ,NAIROBI,8TH NOV 2019-KRA will from Wednesday 13th November, 2019 rollout the Excisable Goods Management System (EGMS) on bottled water, juices, energy drinks, soda and other non-alcoholic beverages. Speaking during a press conference held today at Times Tower, KRA Commissioner for Domestic Taxes, Mrs Elizabeth Meyo said that the implementation of the system will enhance compliance and boost revenue collection by approximately Ksh4billion. The system will also enable fair competition amongst traders in the sector. “Currently we have up to 78% companies in the water sector…

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Business Local News 

Mumias Sugar under receivership sends all employees packing

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2,157 total views, no views today BY JOAN WANJIKU,NAIROBI,5TH NOV 2019-The KCB Group has sacked  all Mumias Sugar Company employee contracts backdating the implementation of the layoffs to September 20. In a press statement issued earlier on Tuesday, KCB’s appointed receiver for the crisis-strapped miller Ponangipalli Rao says the temporary hire of new staff is expected to hold until the resumption of the miller’s operations. “The Receiver shall engage the services of an employee on a temporary basis on mutually agreeable terms until when the operations resume,” reads part of the…

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Business Local News 

Benard Ngugi named as Kenya Power CEO

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2,510 total views, no views today BY NAMULONGO PETER,NAIROBI,29TH OCT 2019-Electricity distributor Kenya Power has named the head of its procurement division, Mr Bernard Ngugi, as the chief executive officer effective immediately. The appointment comes as the power monopoly looks to improve its financial position amid a streak of losses. Mr Ngugi  takes over from Jared Othieno who has been the acting chief executive since July last year following the exit of CEO Ken Tarus. Mr Ngugi has  served for more than three decades in the company Mr Tarus has been…

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Business Local News 

Peter Ndegwa named Safaricom PLC Chief Executive Officer

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4,566 total views, no views today BY JOAN WANJIKU,NAIROBI,24TH OCT 2019-Safaricom PLC has  named Peter Ndegwa as  its Chief Executive Officer. Ndegwa who  is Diageo PLC’s Managing Director, will take over the mantle of leading safaricom the most successive Kenya’s telco firm in April 2020. Ndegwa will take over from Michael Joseph who was appointed interim Chief Executive Officer of Safaricom following Bob Collymore’s death in July. Nicholas Nganga, the Chairperson of Safaricom’s board said the appointee has over two decades of experience in the financial services sector. “Peter brings a wealth of experience…

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Business Local News 

Safaricom customers a happy lot as telco firm introduces data bundles, calls and SMSs with no expiry date.

2,092 total views, 1 views today

2,092 total views, 1 views today BY JOAN WANJIKU,NAIROBI,23RD OCT 2019-Safaricom customers are a happy lot after the company  introduced data bundles, calls and SMSs with no expiry date. Customers who dial *544# now have two new options: Data Bundle (NO EXPIRY DATE) Calls & SMS (NO EXPIRY DATE) Normal Data Bundle WITH EXPIRY Check Balance Safaricom that is celebrating its 19th anniversary unveiled the new system dubbed ‘Simple. Transparent. Honest.’ A statement from Safaricom CEO Michael Joseph said: ” We have reviewed all of our products and services, looked at the…

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Business Local News 

KCB Foundation, GIZ equip 582 youth in KES 20 million job creation drive

3,912 total views, 2 views today

3,912 total views, 2 views today BY NAMULONGO PETER,NAIROBI,22ND OCT 2019-A total of 582 youth have benefited from construction starter toolkits from a partnership between KCB Foundation and GIZ’s E4D/SOGA – Employment and Skills for Eastern Africa Programme after undergoing a skills training programme. The toolkits valued at KES 20 million will enable them to start their individual and group-based microenterprises in the building and construction sectors. The tools are trade-specific for roofing, masonry, tile laying, carpentry, plumbing and pipe-fitting, welding and fabrication and electrical installation. Speaking at an event today where…

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Business 

Airtel Africa announces partnership with Ecobank Group to allow Airtel Money customers to improve their access to mobile financial services

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478 total views, no views today BY JOAN WANJIKU,NAIROBI,22ND OCT 2019-Airtel Africa, a leading global telecommunications services provider with operations in 14 countries across Africa, and Ecobank Transnational Incorporated (“ETI”) (Ecobank.com), the parent company of Ecobank the leading pan-African banking group operating in 33 countries, have signed a partnership which will allows millions of Airtel Money and Ecobank customers across Africa to improve their access to mobile financial services and carry out a variety of mobile transactions. This partnership, which is subject to regulatory approval in each market, will enable Airtel…

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Business 

KCB Group Plc Names New National Bank of Kenya (NBK) Board.

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1,161 total views, no views today BY CORRESPONDENT,NAIROBI,17TH OCT 2019-KCB Group Plc has inaugurated a new board for National Bank of Kenya (NBK), the lender it acquired recently. This gives fresh impetus to the ongoing integration exercise that is anchored on building a bigger and stronger institution, focusing on people, systems, processes and institutional governance. The new Board will be expected to provide leadership and guidance to steer NBK through the transition and eventual integration within the KCB Group, said KCB Group Chairman Andrew Wambari Kairu adding that the Central Bank…

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Africa Business 

New Africa Hotel joins Hotels around the world to create a best brews pop up garden

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1,747 total views, 1 views today DAR ES SALAAM, Tanzania, 14TH OCT 2019- The Brand Celebrates Global Growth with “Four Points Around the World” Series, Showcasing Best Brews in Each Corner of the World Highlights Four Points by Sheraton Dar es Salaam, New Africa Hotel will celebrate the Four Points Around the World Series by hosting a pop-up beer garden from October 18-26, 2019. The Series highlights the brand’s signature initiative, Best Brews, while also celebrating Four Points’ growth in new and existing global markets. POINT 1: Four Points by Sheraton, one of Marriott…

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Business 

KCB group list new shares on the NSE in NBK take over

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2,620 total views, no views today BY JOAN WANJIKU,NAIROBI,4TH OCT 2019-KCB Group Plc has listed an additional 142,979,717shares at the Nairobi Securities Exchange (NSE) following the successful acquisition of the National Bank of Kenya (NBK). Effectively, NBK shareholders who swapped their shares for those of KCB will now be able to freely trade the new stocks at the bourse. KCB got consent to acquire NBK from shareholders holding 297,130,033 issued ordinary shares out of 338,781,200 issued ordinary shares, representing 87.7% by the offer closure date on August 30, 2019. This brings…

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Business Local News 

Kenyans did not return old notes worth Sh7.38 billion-CBK

3,297 total views, 1 views today

3,297 total views, 1 views today BY KORIR JUMA,NAIROBI,2ND OCT 2019-The central bank governor Patrick Njoroge says Kenyans did not return Sh7.38 billion that has now become worthless. Addressing the  press on Wednesday, Njoroge said that out of 217 million Sh1,000 notes, 209.6 million were returned by the end of the demonetisation process. “By September 30, 209,661,000 pieces had been exchanged and therefore 7,386,000 million pieces are still held by individuals as worthless money,” Njoroge said. He added; “The hypothesis that Kenyans are procrastinators and wait until the last minute was disproved.…

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Business Local News 

Tecno Mobile launches new smartphones TECNO SPARK 4,soon to hit Kenyan market

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2,861 total views, no views today HONG KONG, The People’s Republic of China, October 2, 2019/ — Global premier mobile phone brand TECNO Mobile (www.TECNO-Mobile.com) lately launched new smartphones TECNO SPARK 4, with AI Bright Camera. TECNO SPARK 4 is coming back with its unprecedented big screen and with 13MP AI Triple Rear Camera for its outstanding shooting performances. Already touted as an “immersive screen smartphone”, it is no surprise that TECNO SPARK 4 takes unprecedented step of adopting 6.52″ Dot Notch Screen, giving the users the true super full view…

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Business 

Uchumi given 30 days to engage banks over Ksh.2.8 billion debt

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742 total views, no views today BY NAMULONGO PETER,NAIROBI,30TH SEPT,2019-The High Court Commercial and Tax Division has granted Uchumi an additional 30 days to engage banks over the settlement of outstanding loans advanced to the cash-strapped retailer. The directive by the court dated September 27 sits as a pre-cursor to the full acceptance of the supermarket’s Company Voluntary Agreement (CVA) following its partial admittance in May this year. Uchumi made its receipt of the CVA in March after requisite approval by the Capital Markets Authority (CMA) as it sought a new…

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Business 

On the ,move : Faulu Microfinance set to open eight new branches

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491 total views, no views today BY ANN MUNENE,NAIROBI,30TH SEPT 2019-Faulu Microfinance is set to open eight new branches around the country at an estimated cost of Ksh.113 million. The  micro-lender  will also  be  refurbishing 15 of its 60 branches in a move which is seen as the bank’s consolidation of its physical presence. While the move sits against recent trends by banks to cut fat by trimming their brick and mortar outlets, Faulu Managing Director Apollo says the investment sits within the lender’s quest of bettering customer experience. “By expanding…

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Business Local News 

KCB Group and global banks holding USD 47 trillion in assets commit to climate action and sustainability

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2,654 total views, no views today BY CORRESPONDENT,NAIROBI,23RD SEPT 2019-In a massive boost for climate action and sustainability, leading banks including KCB Group and the United Nations today launched the Principles for Responsible Banking, with 130 banks collectively holding USD 47 trillion in assets, or one third of the global banking sector, signed up KCB Group today became one of the Founding Signatories of the Principles for Responsible Banking, committing to strategically align its business with the Sustainable Development Goals and the Paris Agreement on Climate Change. By signing the Principles…

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Business 

Mobile cash lending app Tala temporarily suspends operations in Tanzania

2,821 total views, 2 views today

2,821 total views, 2 views today BY JOAN WANJIKU,NAIROBI,18TH SEPT 2019-Digital cash lending App Tala has announced the temporally end of its operations in Tanzania. In a statement, the company says that it has paused its operations after conducting a pilot of its credit service, adding that it is undertaking a review of its operations to determine the way forward. Customers with outstanding balances have however not been spared and will have to pay. “We appreciate the opportunity to serve you and wish our loyal customers continued success in your financial journeys,”…

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Business Local News 

Kenya Power Set to Implement Energy Loss Reduction Programme

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4,759 total views, no views today  BY CORRESPONDENT,NAIROBI,17TH SEPT 2019-Kenya Power, has today confirmed ongoing initiatives to further enhance power system loss reduction measures in its electricity distribution network countrywide. The Company has developed a strategic medium-term Loss Reduction Initiative Programme, geared at lowering technical and commercial losses in transmission of electricity, from 21% to less than 15% in line with global operating benchmarks. Power system losses comprise both technical and commercial components. Technical losses occur when electrical energy is dissipated in the process of transmission and distribution. Commercial losses are…

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Business 

KCB Bank Kenya Taps into Japan Market to Expand Portfolio in Deal with Giant SMBC

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2,675 total views, no views today BY CORRESPONDENT,NAIROBI,10TH SEPT,2019-KCB Bank Kenya has signed a pact with Japan based giant lender Sumitomo Mitsui Banking Corporation (SMBC) to drive cross-border trade and deepen financial inclusion. The agreement between the two largest banks in their respective regions signed in Yokohama last week will see the two lenders expand their financial offerings provided to clients in both East Africa and Japan, effectively enabling more cross border trade flows. Under the deal, KCB will provide banking services—including banking accounts and cash management, trade finance, export credit agency finance and…

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Business 

Aspira Partners With Fairdeal To Bring Quality Furniture To Kenyan Homes

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1,890 total views, no views today BY CORRESPONDENT,NAIROBI,9TH SEPT,2019-Aspira, a product-financing service provider has partnered with Fairdeal to enable Kenyans in Nairobi and Mombasa to buy quality and value for money furniture via the Aspira app and pay for it in in up to 12 monthly installments. Aspira is a platform that enables Kenyans to buy products and pay for them in monthly installments of 6, 9 and 12 months. The partnership is in line with Aspira’s main objective, which is to help individuals and families achieve their lifestyle aspirations and…

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Business 

Choppies Supermarket Announces plans to bow out of the Kenyan Market

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2,372 total views, no views today BY JOAN WANJIKU,NAIROBI,6TH SEPT,2019-Choppies Supermarket  which is facing difficult financial challenges  has announced plans to exit  the Kenyan market, four years after acquiring Ukwala stores for Ksh1 billion. In an extraordinary general meeting (EGM) with its shareholders on Wednesday, the troubled retailer revealed that it had listed its Kenyan assets for sale and has also classified its 12 stores as distressed. “Zambia has a steady performance in a volatile economy, Kenya’s distressed business has been identified for disposal. Tanzania and Mozambique are distressed while Namibia…

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Business Local News 

KCB Group PLC Completes Take-over of National Bank of Kenya Limited, Picks Integration Team.

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4,315 total views, no views today BY CORRESPONDENT,NAIROBI,6TH SEPT,2019-KCB Group PLC (KCB) has finalised the take-over of National Bank of Kenya (NBK), setting the stage for the integration of the second tier lender into KCB. In an announcement approved by the Capital Markets Authority (CMA) and published on Friday September 6, 2019, KCB confirmed that it had received consent to acquire NBK from shareholders holding 297,130,033 issued ordinary shares out of 338,781,200 issued ordinary shares, representing 87.7% by the offer closure date on August 30, 2019. Having received all requisite approvals,…

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Business 

KCB Commits Billions of Shillings to Women in Diversity and Inclusivity Drive

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909 total views, no views today BY CORRESPONDENT ,NAIROBI,6TH SEPT ,2019-KCB Group is seeking to deepen its new women proposition, committing billions of shillings towards funding women owned and women run enterprises. The Bank said the drive is meant to strengthen its diversity and inclusivity focus as part of its sustainability agenda by simplifying financial inclusion for women. The programme dubbed Women Value Proposition has seen the Bank disburse loans worth Kshs 7.1 billion to 1,400 women to date, KCB said in its current Sustainability Report for 2018. It is aimed…

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Business Local News 

iTax enhancements boost July 2019 Capital Gains Tax revenue performance

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2,632 total views, no views today BY  CORRESPONDENT,NAIROBI,26TH AUG 2019-The Kenya Revenue Authority (KRA) has enhanced the iTax system to reflect exemptions in transactions that attract Capital Gains Tax (CGT). Capital Gains Tax is a tax chargeable on the transfer of a property such as land and buildings located within Kenya. It is payable by the party transferring the property. KRA has now enhanced the iTax system through development of an exemptions function to closely monitor exemption declarations on CGT transactions. With the new enhancement in place, KRA can now accept…

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Business 

Tuskys opens Malindi branch as stakeholders’ hail local retailers’ resilience

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2,784 total views, no views today BY CORRESPONDENT,23RD AUG 2019-.Local retailer Tusker Mattresses, has extended its Coast regional footprint with the opening of its 58th local Tuskys Supermarket branch, in the coastal town of Malindi, today. Tusker Mattresses, the retail chain that operates Tuskys Supermarkets and Mavazi Lifestyle Clothing stores, in Kenya and Uganda has opened the doors to Tuskys Malindi, located at the Oasis Shopping Mall, further confirming the resilience of homegrown retail players in this market. The opening of Tuskys Malindi, extends the market leadership currently enjoyed by local…

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Business 

Tala Raises $110Million in Funding to drive Financial Inclusion

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2,825 total views, no views today  BY CORRESPONDENT,NAIROBI,21ST AUG 2019- Local mobile money App Tala, has   announced  a USD 110 M series D investment to accelerate financial inclusion around the world. The new round of investment will support the launch of new products in the Tala ecosystem that promote financial health and create value for its loyal customer base. Speaking on this funding, Ivan Mbowa, Tala General Manager (East Africa) said that the new round  will enable Tala to reach more customers in Kenya and globally with services that put them in control of their financial lives.…

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Business 

KCB Group Plc Half Year 2019 Net Profit Hits KShs.12.7 Bn.

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2,211 total views, no views today BY CORRESPONDENT,NAIROBI,15TH AUG 2019- KCB Group PLC has posted a 5% growth in after tax profit to KShs. 12.7 billion for the first half of 2019 ending June. The improvement in earnings from KShs12.1 billion reported same Channel transactions done outside the branch increased to 96% of total transactions, up from 87% in 2018 driven by mobile channel. KCB. Channel transactions done outside the branch increased to 96% of total transactions, up from 87% in 2018 driven by mobile channel. “We had a strong second…

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Business Local News 

Sponsored article:New Smartphone Launched by HTC Named Wildfire X

3,591 total views, 1 views today

3,591 total views, 1 views today BY ANN MUNENE,NAIROBI,14TH AUG,201-Taiwanese smartphone maker HTC which exited the India market in July last year, on Wednesday launched “Wildfire X” with InOne Smart Technology, the local licensee partner of HTC Corporation, in the country. The 3GB RAM and 32GB ROM configuration smartphone comes at a starting price of Rs 9,999. The 4GB RAM+128 ROM variant will cost Rs 12,999. Both the variants are priced under a limited period offer and would be available on Flipkart, starting August 22. “The HTC ‘Wildfire X’ coupled with our…

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Business 

Revenue collection hits Ksh.1.580 Trillion in finacial year 2018/19 as KRA releases results

1,369 total views, 2 views today

1,369 total views, 2 views today BY CORRESPONDENT,NAIROBI,14TH AUG 2019-The Kenya Revenue Authority (KRA) has recorded an impressive performance  with its revenue collection hitting Ksh.1.580 Trillion in financial year 2018/19. The superb performance is mainly contributed by an in increase in  its recoveries from tax avoidance to Ksh.8.53 billion across the 2018/19 financial year. The improved recoveries which represent a 60 percent increase from the Ksh.5.3 billion recovered across the preceding financial year come on the back on increased scrutiny on compliance by the tax man. At the same time, the surge…

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Business 

Digital lending App Tala begins Regional Customer Engagements Advocate for Responsible Borrowing

744 total views, 1 views today

744 total views, 1 views today BY CORRESPONDENT,NAIROBI,12TH AUG 2019-Tala, a leading digital lending app in Kenya   has begun customer tours across the country   as   part   of   the   company’s   five-year   anniversary celebrations. The customer tours, which have taken  place in Nairobi, Nakuru, Mombasa, and Kisumu, will provide a platform for Tala to thank their customers for choosing Tala as their partner and to educate the public on responsible borrowing practices.   Speaking on these engagements, Tala General Manager (East Africa)   Ivan   Mbowa,  …

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Business International News 

Huawei unveils its own operating system after US restrictions

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2,051 total views, no views today BY REUTERS,9TH AUG 2019– Huawei Technologies unveiled on Friday its proprietary operating system for smartphones and other devices, as US trade restrictions imposed in May threaten to cut the Chinese firm’s access to US technologies such as Android. But Huawei said that for now it would stick to using Google’s Android for smartphones, and the new software will be gradually rolled out to support devices such as smartwatches, speakers and virtual reality gadgets. The new OS is part of Huawei’s attempt to develop its own…

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Business 

KCB Group PLC Update on the Proposed Acquisition of National Bank of Kenya

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1,109 total views, no views today BY CORRESPONDENT,NAIROBI,9TH AUG 2019-KCB Group Plc has   expressed optimism that the ongoing process to acquire 100% of the ordinary shares of National Bank of Kenya Limited (NBK) will successfully pull through within the expected period. However according to a statement sent to news rooms KCB group Plc says parliament which is key in ensuring the process is complete must play its role  objectively especially in approving the report of the offer already tabled. ”  KCB Group Plc has  taken note of the contents of the…

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Business 

Ex-Coca-Cola Marketing Director, joins Tusker Mattresses C-suite to drive business growth

1,236 total views, 1 views today

1,236 total views, 1 views today BY CORRESPONDENT,NAIROBI,8TH AUG 2019-Leading local retailer Tusker Mattresses, has moved to enhance its strategic human capital base with the appointment of two Chief Officers, to drive the firm’s Information Technology and Marketing portfolios. The C-suite appointments, following a round of competitive selection, are part of the retailer’s ongoing commitment to deepen its professional management pool geared at guaranteeing world-class corporate governance. Tusker Mattresses Group CEO Mr. Dan Githua, confirmed the sign-on of the immediate former Nairobi Bottlers Ltd (A subsidiary of Coca-Cola Beverages Africa) Sales and…

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Business 

KRA key tax heads register slow growth in last financial year

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990 total views, 1 views today BY UPESINEWS REPORTER,NAIROBI,6TH AUG 2019– Kenya Revenue Authority (KRA) major revenue generators registered  slowed growth in last financial year. According to the tax man 2018/2019 financial report, one of the leading tax sectors domestic tax revenue rose. “Domestic Excise the tax head, which grew by 12.3per cent is a volume driven tax and dependent on volume growth in cigarettes and beer. Thus, the growth was primarily explained by slow volume growth in cigarettes and composition in beer deliveries,” said KRA commissioner General Githii Mburu. The domestic…

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Business Local News 

You will now be charged more in interests as KCB adjust its KCB M-Pesa rate to 7.5 per cent from 4.08 per cent

3,377 total views, 2 views today

3,377 total views, 2 views today BY KORIR JUMA,NAIROBI,5TH AUG 2019-If you are  seeking quick cash through mobile cash facility  you should be prepared to part with more interest than before after  Kenya Commercial Bank (KCB)  increased the KCB M-Pesa rate to 7.5 per cent from 4.08 per cent. Users, mostly business people who have used the platform over time due to its attractive rates, were shocked to learn of the new charges .Most of them were getting a text message over the weekend that once they take a loan they will…

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Business 

Huawei To Launch New Operating System By End of 2019.

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908 total views, 1 views today BY  KORIR JUMA,NAIROBI,5TH AUG 2019-Chinese smartphone manufacturer Huawei is testing a new smartphone which is to be powered by the company’s own Hongmeng operating system (OS).   The phone is expected to launch in 4th Quarter of 2019 for around 2,000 Yuan, news portal GizmoChina reported on Monday.   According to the report, the Hongmeng OS would be launched by Huawei at its Developer Conference on August 9 in Dongguan, South China’s Guangdong Province. The Hongmeng system has previously been widely reported in the media as…

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Business Local News 

Global report on Oil and gas in Africa indicates the future of the Continent is promising

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2,941 total views, no views today LONDON, United Kingdom, 1ST AUG 2019-A report released by Africa Oil Week (www.Africa-OilWeek.com) and Menas Associates about what lies in store for Africa’s oil and gas industry has concluded that, on balance, the continent’s economic performance is promising, particularly as global oil markets finally recover from their 2015-2016 lows. Africa’s proven oil and gas reserves respectively account for 7.5% and 7.1% of global totals. Experts predict that 2019 and beyond will see deep offshore exploration and mega gas finds, with the development of trans-continental pipelines,…

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Waumini Sacco embarks on Strategies aimed at aiding in realization of maximum growth in the ever changing financial sector industry

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1,426 total views, no views today BY JOAN WANJIKU,NAIROBI,29TH JULY,2019-The catholic church owned Waumini Sacco society has embarked on vigorous steps aimed  at ensuring maximum growth and profitability in the face of changing environment in financial sector. The society has so far undertaken  among other steps to improve communication,products and services reviews,  Securing loans with 100% of  the client’s  investments in money markets to name just a few. In a statement sent to www.upesinews.co.ke  news desk, the Sacco through its secretary Margret Mwaniki says  the  steps are among many other measures…

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Good progress in Kenya highlights the first half of 2019 as Tullow Oil plc announces 2019 Half Year Results

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1,927 total views, no views today BY CORRESPONDENT,NAIROBI,24TH JULY,2019-Oil exploration  company Tullow Oil has announced results for  the first half of 2019  indicating  positive  strides have been made towards  the company’s activities in Northern part of Kenya. According to a statement sent to the press on Wednesday, the Joint Venture Partners and the Government of Kenya concluded negotiations around key fiscal and commercial principles for Project Oil Kenya with agreements between the parties documented in Heads of Terms which were signed by the Joint Venture Partners and the Government of Kenya…

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Kenyan Mobile handsets market has a new entrant as OPPO unveils Reno 10x Zoom

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1,995 total views, no views today BY JOAN WANJIKU,NAIROBI,22ND JULY,2019-Foreign  handset maker r OPPO launched its new Reno 10x Zoom in the Kenyan market on Monday. During the launch, PR Manager of OPPO Kenya Muthoni Wachira said it will be a catalyst for the future of OPPO’s smartphone development “Reno will serve as the catalyst for the future of OPPO’s smartphone development, and also as an integral part of our global growth strategy for the OPPO brand in the era of intelligent connectivity,” said Muthoni. It will be available for pre-order…

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Business 

KCB sponsors the ongoing Afro Asia Fintech Festival 2019

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2,368 total views, 1 views today BY CORRESPONDENT,NAIROBI,16TH JULY 2019-KCB is a platinum sponsor in the ongoing Afro Asia Fintech Festival 2019 that officially began on Monday 15th July 2019 and will conclude on Tuesday 16th July 2019.    During the official opening ceremony, H.E President Uhuru Kenyatta visited  the KCB exhibition tent where the KCB Group Chief Operating Officer Mr Samuel Makome took him through the different technology innovations under KCB Group. As KCB Group, we have made “digital first and fast” an integral part of our strategy to help stimulate access…

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