Author: David Indeje

The Kenyan Bankers Association(KBA), the umbrella body of the banking industry on Thursday assured customers that they “Look forward to a positive outcome” in the ongoing investigations on bank transactions revolving on the National Youth Service (NYS). “While investigations of transactions undertaken by the NYS are in progress, as KBA, we are pleased by the magnitude of effort with which our member banks are treating this exercise, recognising the industry implications, and we look forward to a positive outcome,” said KBA in a statement. According to KBA, the banking industry is the most regulated and as such banks must comply with…

Kenya’s logistics developer Tilisi Mega City has completed the first phase of its  400-acre Logistics Park in Limuru with an initial 47-acre residential development sale. “We are delighted to announce the completion of infrastructure on the 85 acre Tilisi Logistics Park, which is now 65% sold with buyers commencing their warehouse building on the fully-serviced Tilisi plots within the next few months,” said Kavit Shah, joint CEO of Tilisi Developments Plc, the developer of the Tilisi mega-city. Over half of Tilisi Logistics Park has been bought by Africa Logistics Properties, which is developing its second logistics park in Nairobi, ALP…

Little Cab, a ride-hailing app will roll out it’s mass transport service on Tuesday. The taxi-hailing service Little powered by Safaricom, on Saturday Tweeted that it will unveil the Little Shuttle buses where its users  will be able to book seats playing various city routes. However, it said it will announce the routes soon. https://twitter.com/LittleRideKE/status/1091702452565536768?s=19 The shuttles  allow riders to book a seat and board the 33 seater minibuses at specific times of the day. In November 2018, after making its announcement, it has carried out pilots along the Waiyaki Way and Mombasa Road routes with the help of the…

The East African Community Heads of States have agreed to engage with the European Union on the Economic Partnership Agreement “In the next four months”. According to the 20th Ordinary Summit of Heads of State of the East African Community joint communique on Friday, the summit received President Yoweri Museveni, the former chair’s of the EU-EAC progress report on the EPA and decided on the engagement of the matter. “To get more clarification on the pertinent issues of concern. Thereafter, partner states who wish to, may or may not sign the EPA,” read part of the communique. Read: ‘Africa – Europe…

President Paul Kagame of Rwanda on Friday assumed Chairmanship of the East African Community (EAC). This took place during the 20th Ordinary Summit of the East African Community (EAC) Heads of State held in Arusha, Tanzania. He takes over from President Yoweri Kaguta Museveni of Uganda. https://twitter.com/jumuiya/status/1091354976608284677 The summits’ theme was ‘Enhancing Economic, Social and Political Integration of the East African Community’. Kagame said it was a time to  reflect on the “Meaning and value of this Community which is important to all of us.” “It is an opportunity to address whatever challenges exist directly and frankly so that we can move…

Fashion retailer Deacons East Africa Plc shares have been suspended from the Nairobi Securities Exchange until 30 November 2019. “Notice is hereby given on the extension of suspension from trading of Deacons EA Plc shares following a proposal from the joint administrators to appoint an Independent Transaction Adviser, subject to the company trading at a profit by September 30, 2019 and thereafter agreeing on an actionable timetable in the turnaround process,” statement issued by NSE noted. The Capital Markets Authority (CMA) granted the joint administrators request for more time to appoint an Independent Transaction Adviser and ultimately agree on an…