Author: David Indeje

Safaricom Plc led consortium that includes its parent firms Vodafone and Vodacom, British development finance agency CDC Group and Japan’s Sumitomo Corporation has been given a licence to operate in Ethiopia. This is after submitting a financial bid of $850 million (KSh91.8 billion) the Ethiopian government announced on Saturday. The Ethiopian government disclosed that it had received 2 offers, the other was from MTN from Johannesburg, and partners including the Silk Road Fund, a Chinese state investment group. Safaricom had said if it was to be successful, it will continue focusing on M-Pesa, and data business in the Ethiopian market.…

To have a conducive operating environment for effective public accountability, there is an urgent need for a ‘comprehensive whistleblower law’, said Wakesho Kililo, the Program Officer, Policy, Legal and Institutional Framework at Transparency International Kenya. Wakesho said besides the existence of the legal and institutional instruments in Kenya, non has offered comprehensive protection to whistleblowers. As a result, Kenyans have kept away from reporting corruption because many feel that nothing will be done even if they reported, for fear of victimization or because they did not know where to report.  This is besides the country having a Witness Protection Agency.  …

Absa Bank Kenya’s quarterly profit increased by 23.7 per cent, on the back of growth in net interest income and end of separation costs from Barclays Plc. The lender’s Net profit for three months to March 2021 hit KSh2.42 billion from KSh1.95 billion in a similar period last year. According to its unaudited financial results released Friday, net interest income rose by six per cent to KSh5.96 billion in line with increased lending as the loan book expanded by 7.5 per cent to KSh218.3 billion. Other Highlights  Earnings per Share (EPS) increased to Ksh.0.45 from Ksh.0.36 over the same period…

Strengthening its presence in Nairobi, highly liquid Naivas Supermarket market, announced to open a food market at Greenspan Mall in Donholm. We are delighted at the prospect of opening a food market in Greenspan Mall as it offers us an opportunity to provide Eastlands shoppers the Naivas food market experience,” said Mr Kimani in a statement seen by Khusoko. Covering 57,000 square feet, Naivas will focus on fresh produce, electronics and general merchandise. “We have not had this store format in the greater area, which has been a long-standing request by our shoppers. We are finally able to fulfil this…

Co-operative Bank of Kenya has reported a 4% dip in its net profit for the three months to March 2021 compared to the same period in 2020.  The bank’s profit after tax declined to KSh3.46 billion from KSh3.59 billion on 31st March 2020 as the provisions for loan losses increased in the period under review. Co-operative Bank Q1 Profit Dips 3.6pc to KSh3.46 billion. Co-operative Bank of Kenya has reported a 4% dip in its net profit for the three months to March 2021 compared to the same period in 2020. The bank’s profit after tax declined to KSh3.46 billion…

Ahead of the highly anticipated global release of the ninth Fast and Furious 9, M-Net Movies will be revving up its pop-up channel offering this May with the return of the Fast & Furious franchise.  The M-Net Movies Fast & Furious pop-up channel will now also be enjoyed by DStv Compact Plus and Compact customers. Launching on Friday, 21 May, and running until Sunday, 30 May, the action-packed pop-up channel will be available on DStv channel 111 and will feature the eight original films from the Fast & Furious franchise. All these films, from Fast to Fate, will air between 5 am to 9…