Author: Khusoko

Sitoyo Lopokoiyit has been appointed as the M-Pesa Africa managing director effective April 1, 2021. Sitoyo first joined Safaricom in July 2011 as Head of M-PESA Strategy and Business Development, a role he held until September 2015 after which he moved to Vodacom Tanzania as Director M-Commerce. While there, he was also a Vodacom Foundation Board Member and part of the EXCO team that handled the various challenges in the market successfully. Previously, Sitoyo worked as the Diversification Manager at Total Kenya, the Category manager at Uchumi Supermarkets, and as the Business Advisor and Merchandise manager at Chevron Kenya. Sitoyo…

Kenya’s Central Depository and Settlement Corporation (CDSC)  has made key changes to its board. The new directors of the board are Mrs Aida Kimemia-Nesbitt. She will serve as its Board Chairperson, and three new non-executive directors, Sitoyo Lopokoiyit, Kiprono Kittony and Lawrence Kimathi Kiambi. In a public notice, the quality provider of clearing and settlement services in the Kenya Capital Markets said Mrs Aida takes over from Charles Ogola. The latter leaves the CDSC Board after serving as Chairman and Independent Director, representing the public interest, since 2005. Mrs Aida Kimemia-Nesbitt: She is Managing Director at Tiserin Capital, a financial…

Kenyans  Hanigun Kwenya and Maurice Muendo were among 60 African film and production enthusiasts who graduated from the MultiChoice Talent Factory’s (MTF) on Tuesday. 2020 was undoubtedly tough due to COVID-19, but the ability of all the 60 students from the Lusaka, Nairobi and Lagos academy hubs to quickly adapt and transition from physical to virtual learning speaks to the world-class nature of the academy’s course, says Yolisa Phahle, CEO of General Entertainment and Connected Services, MultiChoice Group.  “The MultiChoice Talent Factory is very close to my heart. It speaks to who we are as Africans, natural-born storytellers. Today we…

Kenya’s public debt sustainability concerns are not about to ebb any time soon. In fact, the recently enhanced public health restrictions are threatening to somewhat derail the recovery in some sectors, dampening the nascent rebound in revenues. Collections were already 10% below last year as of February 2021 and while performance improved in March, risks of undershooting projections remain solid. Combined with public health spending pressure, this could sustain the country’s wide deficit and borrowing pressures. This comes just months before the expiry of some debt moratoriums from development partners and bilateral lenders. This could reignite debt service pressure, although…

Suresh Bhagwanji Raja (SBR) Shah, Founder and Chairman of I&M Bank since 1974, has retired after a 47-years tenure that saw him oversee the growth of I&M to a tier 1 lender from tier 3. Suresh will, however, continue to remain on the Board as a Non-Executive Director. A seasoned career banker, Mr SBR Shah has managed to drive the steady growth of I&M Bank Limited’s asset base to its current Kshs 305.08 billion.  He will be replaced by Mr Oliver Fowler to serve as the new Chairman effective March 2021.  Mr Fowler joined the board in August 2015. He…

Foreign investors were bearish on Nairobi Securities Exchange (NSE)  offloading their stakes on Safaricom and Equity Group, according to Genghis Capital. Investors opted to accumulate KCB Group and East African Breweries Limited accounting for 72.9% of the week’s turnover. During the week, they had a net selling position of USD 9.1 million, from a net buying position of USD 4.4 million recorded the previous week. The equities market was on a downward trajectory with NASI, NSE 20 and NSE 25 losing by 3.5%, 2.0% and 2.9%, respectively, driven by losses recorded by large-cap stocks such as Cooperative Bank, EABL and…