The Central Bank of Kenya (CBK) has approved the liquidation of Charterhouse Bank (CHB) Limited by appointing Kenya Deposit Insurance Corporation (KDIC) as its liquidator. The lender has been under statutory management since 23rd June 2006 as a consequence of “…severe violations of the Banking Act by Charterhouse Bank relating to lending, the accuracy of returns submitted to CBK, and failure to obtain account opening documentation for a number of customers.” The Statutory Management Report by the Statutory Manager on May 6, 2021, recommended that CHB be liquidated. “The report indicates that in view of the severe violations of the…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
TECNO, the global premium smartphone brand Thursday launched its Camon 17 series in Kenya alongside Hollywood actor Chris Evans as its Brand Ambassador. Hollywood actor Chris Evans, TECNO’s newest brand ambassador, is featured saying, “You might want a picture that is vivid and full of emotion or you might want something simple,” but what makes it a good image is because it is “so individual”. Best known for his role as Captain America in the Marvel Universe series of films, the charismatic Chris Evans embodies TECNO’s brand motto ‘young at heart’ and the pursuit of excellence. The partnership with Evans…
Engage BCW has been recognized for excellence in five campaigns in this year’s Africa SABRE Awards. Engage BCW’s won a Gold Sabre award in integrated marketing and Certificates of Excellence for campaigns in integrated marketing, crisis and issues management, public sector/government relations, and cause-related marketing. “We have always believed in excellence. We operate on the premise that when the client is happy, then everyone is happy. This award is a vote of confidence in our commitment to excellence,” said Engage BCW Managing Partner Desiree Gomes. In the integrated marketing category Engage BCW was a winner with the #AStarisborn campaign which…
Telecommunications group MTN Rwandacell became the first mobile network operator to list its shares on the Rwanda Stock Exchange (RSE). The listing by introduction turns Crystal Telecoms’ (CTL) shareholders into direct shareholders in MTN Rwanda. “The MTN listing is particularly significant because it is an addition of a leading brand to the exchange and will offer more visibility which will trigger more interest from other potential new investors to join,” Celestine Rwabukumba, the CEO of RSE said. https://twitter.com/RwStockExchange/status/1389491874961006592?s=20 The listing will see 1,350,886,600 ordinary shares with a nominal value of Rwf 1 each being registered with the RSE at an…
The Chief Executive Officer of APA Life, Catherine Karimi, has bagged three top business awards in East Africa in recent days, in recognition of her work. Ms Karimi was named CEO of the Year during the recent Think Business Insurance Awards 2020, becoming the first woman to receive the honour. She was an honoree in the Angaza Awards for Women to Watch in Banking and Finance in the East African Community. She was also listed as one of Business Monthly 2021 Top 25 Most Powerful Women in C-Suite Impacting Business. Ms Karimi said: “I am honoured and humbled to receive…
Every kitchen enthusiast, when considering an oven, is always aiming for a brand that brings their cooking sessions to a whole new level. It is not always an easy task to comb through brands trying to select a microwave that suits your needs. Unfortunately, in regards to choosing the best kitchen appliance, everyone is almost spoilt for choice thanks to the litany of available products on the market. Nevertheless, the trick is to always choose a product that will last, one that meets your needs, and is quite efficient – enter LG SolarDom NeoChef Microwave. The SolarDOM microwave from LG…