Author: Muindi

Quickmart Supermarket aims to fortify its proposition of providing fresh produce and locally produced products to stay ahead of Kenya’s retail sector competition. The retailer said in a statement during the launch of its 50th outlet in the country in Machakos County and the first in the Eastern Kenya region. “Situated at the heart of Machakos, the pioneer branch will also mark the entry of the supermarket’s chain of stores into the Eastern region, expanding its presence to 14 counties across Kenya,” the retailer said. “The launch of the stores will greatly promote the local farmers and other suppliers since…

Eliud Kipchoge of Kenya, the greatest marathoner of all time, on Sunday won the Tokyo Marathon in 2:02:40. In the women’s race, world record holder Brigid Kosgei, 28, won in 2:16:02, the third-fastest marathon of all time. https://twitter.com/EliudKipchoge/status/1500309704827940864?s=20&t=IH7nezF3M30VPt1j-JDTrQ https://twitter.com/fast_women/status/1500297149510213633?s=20&t=9J2G4O3_lctkcSaDWvpMMA Kipchoge’s win was the fourth-fastest marathon time in history. Kipchoge led a Kenyan one-two finish with Amos Kipruto coming home second in 2hrs, 03mins, 13secs as Ethiopia’s Tamirat Tola finished third in 2hrs, 04mins, 14secs. “Kipchoge’s performance is the fourth-best ever behind his own world record of 2:01:39 set in Berlin in 2018, while Kosgei’s is a time that only she…

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…