Assets from the former InterContinental Hotel in Nairobi will be auctioned on August 29, 2024. The auction will be conducted by Garam Investment Auctioneers. “Duly instructed by the Kenya Hotel Properties PLC, we shall sell the undermentioned goods belonging to the former InterContinental Hotel located off Parliament Road on Thursday, 29th Day of August from 11 am,” the Auction notice reads in part. Items for Sale Cold rooms Reception counters Fridges Chillers Workstations Roof fans Exercise machines Massage beds Weighing scales Jacuzzi Lockers Sporting tables Dryers Washing machines Steam pressers Sinks and tables Cookers Kitchen hoods Wall shelves Lockers Dough…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
The National Bank of Kenya (NBK) reported a profit after tax of KES 839 million in the first half of 2024. This was a significant recovery from a pre-tax loss of KES 3.8 billion in the same period last year. Pre-tax profit surged to KES 1.1 billion, driven by a 20% increase in net operating income. Non-funded income contributed 26% of total operating income, showcasing NBK’s successful strategy. Total assets grew marginally to KES 153 billion. Despite a temporary decline, customer deposits closed at KES 102 billion. Charges decreased by 9%, reflecting improved credit management. NBK is optimistic about its…
Absa Bank Kenya PLC will significantly expand its reach across the country by establishing over 17,000 agency service outlets within the next two years. The first phase of this rollout will see the Bank rapidly increase its agency network from the current 600 to over 3,000, focusing on broadening its presence and enhancing service delivery to underserved communities. This expansion aims to improve accessibility to essential financial services for individuals and businesses in their local areas. Both existing and non-customers will benefit from the convenience of conducting cash deposits, withdrawals, and other transactions through third-party outlets. This strategic move aligns…
Ride-hailing platform Uber has increased prices across all its models in Kenya, effective immediately. This follows a month of protests by digital taxi drivers in July over existing pricing models. Besides demanding a minimum payment of Sh300 for trips under 3 kilometres, drivers also want passenger profiles to enhance safety and prevent crime. The company has announced a 10% increase in the minimum fare, from Sh200 to Sh220. This adjustment aims to address the high cost of living and ensure drivers can earn a sustainable income. “The minimum fare for example Uber Chapchap is Sh220, that’s what the drivers will…
Ben Roberts, Group Chief Technology and Innovation Officer at Liquid Telecom since 2017, is stepping down from his role. “Well, after 22 years, it is with immense excitement, and some sadness, that it is time to move on from this great company Liquid Intelligent Technologies,” Roberts wrote on his LinkedIn page. “I’m proud to have built and led great teams, and with the great work from those teams, built great products, and perhaps the greatest network in Africa.” Roberts has been instrumental in driving Liquid Telecom’s technology strategy and expansion across Africa. With over two decades of experience in technology…
Kenyan diaspora remittances reached a new high in July 2024, increasing by 11.5% compared to the previous month. The surge was driven by easing inflation in the United States, leading to increased disposable income for Kenyans living and working abroad. The US remains the primary source of remittances, accounting for 52% of the total. Other top sources include Canada, the United Kingdom, Germany, Saudi Arabia, the United Arab Emirates, and Australia. Year Month North America Europe Rest of World Total Remittances (USD ‘000) 2024 Jan 227,764.71 85,970.23 98,675.10 412,410.04 2024 Feb 216,261.02 68,506.15 101,166.51 385,933.68 2024 March 229,327.94 70,459.26 107,984.99…