Author: Muindi

Safaricom Investment Co-operative (SIC) has received approval from the Ministry of Cooperatives and MSMEs to adopt a new brand identity. This strategic move aims to enhance the Society’s operations and align with evolving market trends. The rebranding was approved by SIC members during a Special General Meeting as part of the Society’s 2023-2027 strategic plan. According to SIC Chief Executive Officer Churchill Winstones, the rebranding will provide a more modern and consistent experience for members. “This rebranding is a significant step in our journey to position SIC for future success. We are excited to introduce our new brand identity and…

Human Mobile Devices (HMD) has announced a new three-year partnership with FC Barcelona, one of the world’s most prestigious football clubs. The announcement was unveiled through a creative social media video on HMD and FC Barcelona’s channels. The video showcases FC Barcelona star Lamine Yamal sporting an intricate hairstyle featuring the club’s crest alongside the HMD logo, shaved by his hairdresser Saul Peregrina. This two-hour masterpiece symbolizes the new partnership and offers a glimpse of the sleek Blue Topaz HMD Skyline smartphone, highlighting both brands’ commitment to innovation and style. Building Brand Awareness Through a Global Sports Giant This partnership…

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…

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…