Author: Muindi

Pan-African communications service provider Liquid Telecom has successfully connected 152 schools to website domains as part of a broader effort to enhance schools’ abilities to deliver online learning and services across the country in partnership with Kenya Network Information Centre (KENIC). The programme, launched in May 2020, features schools from across 19 counties including Bungoma, Trans Nzoia, Migori, Homabay, Kakamega, Narok, Busia, Kisii, Nandi, Kiambu, West Pokot, Nyamira, Siaya, Uasin Gishu, Turkana, Vihiga, Elgeyo Marakwet, and Kilifi with the target to register 2000 sc.ke domains. KeNIC Chief Executive Officer Joel Karubiu said, “The Pandemic has heightened the need for digital…

Manufacturers have launched standards aimed at enhancing efficiency and accountability at the ports and border points in the country. The Standard Operating Procedures (SOPs) developed by the Kenya Association of Manufacturers (KAM) seek to ensure better and more efficient entry operations to facilitate trade and enhance the fight against illicit trade. The SOPs will provide a one-stop reference for all Government agencies tasked with ensuring efficiency and accountability in the inspection, verification, and clearance of imported cargo at the port and points of entry in Kenya. KAM chairman Mucai Kunyiha said enhanced public and private sector partnerships will go a…

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,…