Author: Muindi

Acorn Investment Management Limited has been licensed as a Real Estate Investment Trust (REIT) by the Capital Markets Regulator. The Capital Markets Authority said Acorn had met the requirements for REIT Managers as provided in the Capital Markets (Real Estate Investment Trusts) (Collective Investment Schemes) Regulations, 2013; the Capital Markets (Corporate Governance) (Market Intermediaries) Regulations, 2011; and any other applicable Regulations. A REIT Manager, according to the (Real Estate Investment Trusts) (Collective Investment Schemes) Regulations 2013, is a company incorporated in Kenya and licensed by the Capital Markets Authority to provide real estate management services in respect of a Real…

Nairobi Securities Exchange has extended the suspension of Nairobi Business Ventures (NBV) from trading on the bourse to allow for completion of the company’s restructuring process. The Kenya-based company shoe, and leather accessories retail chain operates under the brand name KShoe, will remain suspended until 30th November 2020. The company’s restructuring process includes a share split, allotment, and issuance of shares to Delta International FZE. NBV shareholders approved the sale of 84% of the firm to Delta International FZE for Kshs 83 million. Other firms suspended at the exchange for a variety of reasons, include Deacons, Athi River Mining, Kenya…

The Kenya Tea Development Agency (KTDA) says tea prices at the Mombasa Tea Auction declined 10% between July and October 2020 compared to the corresponding period last year. According to the agency, a kilogram of tea was sold at an average price of 2.20 dollars compared to 2.45 dollars last year. “This drop is linked to the higher supply of tea in the markets, a factor that is critical in determining farmers’ earnings at the end of the financial year,” said Alfred Njagi, KTDA Managing Director. The drop in prices is also attributed to disruptions caused by the COVID-19 pandemic…

Restaurant chain Java House plans to lay off part of its workforce, as revenue and profit slide through voluntary redundancy requests. According to the Coffee Chain,  Covid-19 restriction on the food and beverage (F&B) industry has led to low demand for their products. “During the last few months we have looked at every aspect of cost reduction in the business, including re-negotiating rents, our procurement of raw material, our labour schedules, our utility costs, etc. and these are now moving towards a very low level in line with expected sales,” Java said in a communication to its employees. “But unfortunately,…

Terres des Hommes, a children’s rights organisation jointly with the Ministry of Education has launched an online manual that seeks to address rising cases of sexual exploitation. The manual comes in a time when Kenya and the world at large are facing challenges brought by the Covid-19 pandemic with internet and mobile penetration getting into the hearts of children. This has exposed children to Online Sexual Exploitation. Speaking during the launch, Raphael Kariuki, Africa Head of Region highlighted the key overall goal of the Safe Online Project, which is to prevent and respond to Online Child Sexual Exploitation in three…

The South African government is ramping up policies aimed at using digital technology to reduce inequality, create opportunities, and reap the benefits of ICT for a post-pandemic social and economic revival. This was the message from Minister of Communications, Telecommunications and Postal Service Stella Ndabeni-Abrahams today. The minister was speaking at the Better Africa Summit at AfricaCom2020, the largest telco, media, and technology event in Africa, taking place online from November 9-12. Ndabeni-Abrahams said President Ramaphosas Fourth Industrial Revolution (4IR) commission has already made several key recommendations that have been approved by Cabinet. These include a commitment to invest in…