Author: Muindi

Kenya’s Eliud Kipchoge won the Tokyo Olympic men’s marathon in Sapporo on Sunday. Kipchoge, the greatest marathoner of all time finished in two hours, eight minutes and 38 seconds. This was his second straight gold medal.  Abdi Nageeye of the Netherlands took silver at 2:09:58 and Belgium’s Bashir Abdi won bronze. The 36-year-old joins Ethiopia’s Abebe Bikila (1960 and 1964) and East Germany’s Waldemar Cierpinski (1976 and 1980) as the only runners to win back-to-back gold medals on the Olympic stage. “I think I have fulfilled the legacy by winning the marathon for the second time, back-to-back. I hope now…

Football Kenya Federation (FKF) has ended its partnership with Nigerian-based betting firm Betking. The KSh 1.2 billion was a five-year sponsorship deal signed mid-2020. The two said they had reached a mutual agreement to terminate sponsorship contracts for the BetKing Premier League (BKPL) and BetKing Division One League. “FKF and Betking will explore other ways in which we can collaborate in the future. Unreservedly, FKF confirms that the support received from Betking has played a crucial part in fostering the growth of the local football game,” said the federation,” the joint statement read in part.  “Despite the mutual agreement to…

Sameer Africa Plc reported a net profit of Ksh 154.5 million in the six months ended June quarter ended June 30 from Ksh 58.6 million loss in 2020. Group revenues declined by 27 per cent to Ksh 323 million due to the gradual re-entry into the tyre business. In February, it said it will run tyre business under the Yana brand anchored on ‘both the company’s real estate portfolio and its extensive tyre industry experience’. On the other hand,  its operating expenses dropped to Ksh 58.4 million from Ksh 128.4 million in a similar period last year.  Sameer’s earnings per…

Kenya Airways’ wholly-owned subsidiary Jambojet will commence flight operations to North Kivu Capital, Goma in the Eastern Democratic Republic of the Congo, and to the Coastal Island of Lamu as part of its expansion program. The inaugural flight to Goma will be on 10th September 2021 and the airline will fly to Lamu starting 15th September 2021. In a statement Wednesday, the airline’s chairman Vincent Rague said initial flights to Goma will involve two weekly frequencies eventually growing to four, between Monday, Wednesday, Friday and Sunday.  The airline will also operate four frequencies to Lamu.  “Three years ago, we embarked…

Nairobi Business Ventures will delay the release of their 2020 full-year results until 31st August. The retailer says the delay has been occasioned by its ongoing acquisition process by Delta International FZE. “This extension will allow NBV to comply with the Capital Markets Authority (CMA) Code of Corporate Governance Practices for Issuers of Securities to the Public (2015),” the firm said. In July, NBV announced plans to purchase 100 per cent ownership in Delta Automobile, Air Direct, and Aviation Management Solution Limited.  It also intends to purchase an 11.33 hectares parcel of land in Machakos County to be used to…

Bharti Airtel’s Africa business on Friday said Qatar Investment Authority (QIA), will pay $200 million for a minority stake in its telco’s mobile-money unit, AMC.  AMC BV is the holding company for several of Airtel Africa’s mobile money operations. The transaction will close in two stages. USD150m will be invested at the first close, subject to regulatory filings, with USD50m to be invested at the second close. The Transaction first close is expected in August. That’s on top of the $300 million Airtel Africa received from selling stakes in the business to private equity firm TPG and Mastercard in April.…