Author: David Indeje

Kenya Airways PLC (KQ) has reported a 120% improvement in its operating profit for the first half of 2023, from a loss of Kshs 5 billion in 2022 to a profit of Kshs 998 million. The Group’s revenue increased by 56% to Kshs 75 billion, driven by a 43% rise in passenger numbers to 2.3 million and a higher cabin factor of 76.1%. However, the airline’s operating costs also increased by 39% to Ksh 74.1 billion. The airline’s performance was further affected by foreign exchange losses of Ksh 17 billion due to the devaluation of the Kenya shilling and the…

ILAM Fahari Real Estate Investment Trust has received regulatory approval from the Capital Markets Authority (CMA) to convert its unrestricted ILAM Fahari Income Real Estate Investment Trust (IFIR) into a restricted I-REIT. This approval follows a cautionary statement issued in March 2022, indicating that the REIT was undergoing a strategic review involving an operational restructuring of IFIR. ICEA LION Asset Management (ILAM) Chief Executive Officer, Mr Einstein Kihanda said, “The conversion to a restricted REIT will allow us to offer more specialized investment opportunities to our stakeholders, providing increased flexibility and potential for growth.” “A restricted REIT is only for…

OPPO has announced that it will be bringing its latest Reno series, the OPPO Reno 10 series, to the Kenyan market. The official launch of the device has been set for September 5, 2023. The Reno 10 series will include two variants in Kenya – the Reno 10 5G and the Reno 10 Pro 5G. The newest Reno series seeks to deliver a pro power experience to its users, ranging from powerful imaging technology, SUPERVOOCTM for fast charging, powerful performance, and design. With the introduction of the Reno10 series, OPPO seeks to revolutionize portrait photography for mobile phone users with…

Kakuzi Plc reported a 66% decline in its half-year net profit to KSh 117.5 million for the first six months of 2023, compared to KSh 341.3 million in the same period in 2022. The firm attributed the poor performance to a loss of KSh 329 million in its macadamia business, which was hit by a glut in the global macadamia market that reduced the prices and demand for the nuts. The firm said it is looking to recover from the macadamia slump by increasing its domestic retail sales of value-added macadamia products, such as ready-to-eat nuts, macadamia flour and cold-pressed…

Ebwali Boys and Compel Sportif will face each other in the Western region finals of Safaricom Chapa Dimba at the Bukhungu Stadium. Ebwali, the champions of Vihiga, beat The Menace from Kakamega 3-2 in a thrilling semifinal. Ebwali took the lead in the 12th minute through Austin Ondongo who scored a delightful goal. Sharif Muranda equalized for The Menance via a freekick that sailed all the way through 10 minutes before the break. Ebwali started the second half brightly, and a thunderbolt by Tom Oserio restored their lead. Captain Derrick Oketch made it 3-1 in the 65th minute following a…

On Friday night, a widespread power outage struck Kenya, leaving passengers at the Jomo Kenyatta International Airport (JKIA) in Nairobi in the dark.  The power outage was caused by a “system disturbance leading to loss of bulk power supply” that led to the loss of bulk power supply, according to Kenya Power and Lighting Company (KPLC). Images of stranded passengers sitting in darkness at JKIA soon surfaced on social media.  The airport operator, Kenya Airports Authority, stated that one of its stand-by generators at the facility did not kick in. https://twitter.com/KenyaAirports/status/1695173237716418752?s=20. Transport Minister Kipchumba Murkomen apologized for the power outage…