Author: Korir Issa

Mumbai-based Godrej Consumer Products (GCPL) has agreed to sell a portion of its assets in Kenyan hair care company Style Industries Ltd. to a newly formed entity, Hair Manufacturing Kenya Ltd. The deal involves the transfer of specific assets from Style Industries, including production plants and machinery, office equipment, and inventory. Style Industries owns the famous “Darling” brand of braids, weaves, and wigs. According to the Competition Authority of Kenya (CAK), the transaction’s negative public interest concerns, such as job losses, were also noted. CA cited that it will lead to the loss of 652 jobs, equivalent to 30 per…

TikTok’s innovative “Add to Music App” feature is now available in 163 new countries, including 41 across Sub-Saharan Africa.  This expansion allows music lovers to seamlessly save songs discovered on TikTok to their preferred streaming service. Effortless Music Discovery and Saving The Add to Music App allows users to save a song directly from a TikTok video for instant gratification.  Look for the “Add Song” button next to the track name at the bottom of the video. With a single tap, you can choose your preferred streaming service (availability may vary). Flexibility for Your Music The song will be saved…

Stanbic Holdings reported a strong financial performance for the year ending December 31, 2023. The group’s net profit jumped 34% to Sh12.2 billion, compared to Sh9.1 billion in 2022. This growth was attributed to a significant increase in core lending activities and non-interest income. The bank’s Chief Financial and Value Officer, Mr. Dennis Musau, noted that the bank’s previous three-year strategy delivered the envisioned goal of a sustainable growth trajectory, with all the key metrics depicting better returns. “Today’s results are demonstrable proof that our three-year strategy yielded a positive and sustainable growth trajectory, delivering 39%, 26%, and 34% growth in…

Kenya’s Sweetwaters Chimpanzee Sanctuary, located at the world-famous Ol Pejeta Conservancy, is set to reopen its doors on March 1, 2024, after a three-year hiatus due to the COVID-19 pandemic. “We are thrilled to announce the grand reopening of the Sweetwaters Chimpanzee Sanctuary, which marks not just a return to normalcy but also the unveiling of a new, immersive experience that allows visitors an up-close encounter with one of nature’s most fascinating creatures,” said Ol Pejeta Conservancy CEO, Justin Heath. After a brief hiatus due to the challenges posed by the COVID-19 pandemic, we have worked tirelessly to ensure the…

Kenyans expect a revamped healthcare financing system in March as the government prepares to launch the Social Health Insurance Fund (SHIF). The SHIF program, announced by Health Cabinet Secretary Susan Nakhumicha, aims to replace the existing National Health Insurance Fund (NHIF). Registration for SHIF will kick off in March and conclude in June. Kenyans will then begin contributing to the fund at a rate of 2.75% of their gross salary, with a minimum monthly payment of Sh300, starting in July. “We aim to commence registration from the first week of March,” explained CS Nakhumicha. “This will go on up to…

The Basketball Africa League (BAL) announced a thrilling 2024 season with five new teams, three new participating countries, and a record 48 games across four host cities.  The season begins on March 9th in Pretoria, South Africa. Morocco’s FUS Rabat will face Angolan powerhouse Petro de Luanda in Pretoria, followed by South Africa’s Cape Town Tigers taking on Burundi’s Dynamo Basketball Club. The fourth BAL season will feature a record 48 games in Pretoria, Cairo, Egypt, Dakar, Senegal, and Kigali, Rwanda, marking the first BAL games in South Africa and the first time the league will play games in four…