Author: Muindi

Menengai Oliers on Saturday ended KCB Rugby Club’s four-year Kenya Cup dominance with a 17-24 win to book a place in the finals where they will meet Kabras Sugar. “Our character is not defined by the battles we win or lose, but the battles we dare to fight. To our Fans, we are sorry and thank you for being with us throughout the season. To MenengaiOilers, all the best gents and enjoy the win,” KCB Rugby Tweeted. https://twitter.com/KCBGroup/status/1500096985117999105?s=20&t=saesLTj_gSloJWWr__0LMw The game was played at the KCB Sports Club, Ruaraka. Kabras Sugar booked its place after whooping Strathmore Leos 19-9. https://twitter.com/RfcKabras/status/1500175722870198272?s=20&t=saesLTj_gSloJWWr__0LMw https://twitter.com/TheKenyaCup/status/1500129402759352321?s=20&t=saesLTj_gSloJWWr__0LMw…

Stanbic Bank Kenya Purchasing Managers Index (PMI) for February revealed a strong rebound in business activity attributed to flat COVID-19 infections prompting an increase in customer numbers. However, cash flow issues resulted in employment dropping for the first time in ten months. In addition, with input demand rising, increase in tax burdens and global material prices, firms’ overall costs grew at the sharpest pace since September 2018. The headline PMI leading which signals an improvement or decline in business conditions rose above the 50 points confidence in February to 52.9 points from 47.6 points in January. Readings above 50.0 signal…

Stanbic Holdings 2021 pretax profit rose 57 per cent to Ksh 9.76 billion from a year earlier attributed to improved interest income and a drop in impairment charges from Ksh 12.80 billion in 2020 to Ksh 14.37 billion. Its net profit for the year was up 39 per cent to Ksh 7.20 Billion. The Group’s customer loans went up by 17 per cent to KShs 185billion in the reporting period, signalling its unwavering support to its customers to help them grow and realize their full potential. Customer deposits also grew by 11 per cent to KShs 242billion demonstrating the trust…

Gold exchange-traded funds at the Nairobi bourse recorded an all-time high turnover of KShs 91.7 million on a volume of 44,000 units and closed at Ksh.2075 Wednesday. According to Nairobi Stock Exchange (NSE) market report, the overall turnover in the market activities as of March 2 was KSh 792 million from the previous sessions KShs 202 million with 11.57 per cent contributed by the Absa New Gold Exchange Traded Fund. Gold-backed ETFs are passive investment instruments that are based on price movements and investments in physical gold. The NewGold issuer (RF) Ltd, a subsidiary of South Africa’s ABSA, became the…

Kenya Breweries Limited has unveiled a fresh logo as a part of the company’s centenary celebrations. The new logo symbolizes 100 years of building East Africa’s largest manufacturer, founded as a riverside operation in Ruaraka. https://twitter.com/KenyaBreweries/status/1498310599960322050?s=20&t=Tg8DV1lbLIzu6mLHFHA-nw The logo was designed by Anncatherine Njuhi, a 23-year-old former student at the Buruburu Institute of Fine Arts. It encompasses the initials of the business name creatively merged with 10 barley leaves symbolizing the 10 decades since KBL was founded. Njuhi was part of the competition KBL Still Got Skillz? Logo contest where more than 600 youth between 21 and 25 submitted designs. Anncatherine…

KenGen, Kenya’s biggest electricity producer, reported a 9 per cent increase in profit before tax of 7.5 billion shillings for the half-year period ended December 31, 2021, from 6.9 billion shillings which were recorded during a similar period in 2020. Net revenue increased just 1.3 per cent to stand at 5.1 billion shillings from 5 billion shillings the previous half of 2020. Total revenue increased 14 per cent from 21.8 billion shillings to 24.8 billion shillings. “Income tax expense increased by 32 per cent to Sh2.34 billion from Sh1.82 billion in December 2020, reflecting the impact of corporate tax reversal…