When starting her cereal milling business, Mwathi had great aspirations to offer her customers a great product and transform her community through job creation. To meet demand and sustain production, she organized the supply of raw materials from upcountry to her factory in Nairobi. What she did not expect is the unforeseen and new tax requirements that abruptly increase the cost of production. This is in addition to the many other levies she is expected to pay. A Regulatory Audit Report by the Kenya Association of Manufacturers (KAM) estimates an average of 33 levies paid by players in the Food and…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Centum Real Estate Limited has appointed Kenneth Mbae as its Managing Director with effect from 17th March 2022. He takes over from Samuel Kariuki, who has left to pursue other interests. Prior to his appointment, Kenneth served as Centum RE’s CEO, overseeing operations in Kenya and Uganda. He also served as the founding Managing Director of Vipingo Development Limited, the largest Centum RE subsidiary. Kenneth Mbae is a Harvard University GSD Alumni (AMDP XVIII), holds a BSC Biochemistry from Kenyatta University, and an Advanced Management Certificate from the Kenya institute of Management. He is also a member of the Project…
The FA Cup has produced some thrilling upsets thus far in 2022, and second-tier Middlesbrough will be hoping to continue their incredible run. Boro has already put out heavyweights Manchester United and Tottenham Hotspur – this weekend they will have the chance to come up against Chelsea at the Riverside Stadium. Manager Chris Wilder will hope his side can overcome the Blues and advance into the semifinals – though he knows the odds are stacked against his charges. “Chelsea is a world-class team with a great manager, they are going to be the toughest test we have faced at any point this…
Co-op Bank Group Thursday posted a net profit of Ksh 16.5 billion for the fiscal year 2021 ending December 31 compared to Ksh 10.8 Billion reported in 2020 on higher income. “This is the best performance ever by the Bank and is in line with the Group’s strategic focus on Sustainable Growth and Transformation,” Dr. Gideon Muriuki the Group Managing Director & CEO said in an emailed statement. Key Highlights Financial Position Total Assets grew to Kshs. 579.8 Billion, a +8% growth from Kshs 536.9 Billion in the year 2020 Net loans and advances book grew to Kshs. 310.2 Billion,…
What is in the best and long-term interest of teachers and ordinary members of the gigantic Mwalimu National Sacco following the recent decision by the society’s annual general meeting to liquidate Spire Bank? The idea of killing the bank and tearing up its banking license does not appeal to me. Let me explain the offers and options on the table. Even the ordinary teacher and member of Mwalimu Sacco not familiar with nuances of complex mergers and acquisition transactions can join the conversation. The first option on the table is an asset purchase transaction. A prominent local bank has offered…
Juliana Rotich, a Kenyan information technology professional is the new Head of Fintech Integration Solutions at Safaricom. She holds an IT degree from the University of Missouri. She is a board member of BRCK Inc and serves on the Advisory Council BASF, Microsoft 4Afrika and Waabeh Ltd. https://twitter.com/afromusing/status/1503769883833737218?t=foA2UYqAVAxQRtSajwil8A&s=19