Guaranty Trust Bank Plc (GT Bank), Nigeria’s biggest lender by market value estimated at $2.02 billion, plans to make a foray into the Kenyan market. GTB’s managing director, Segun Agbaje during the release of the bank’s Audited Financial Results for the year ended December 31, 2020, said “Amidst the many challenges that persist, we remain ardent believers in Africa’s growth potential. With our commitment to deepening customer relationships and intense focus on delivering innovative financial solutions, we enter 2021 well-positioned to lead this new world.” “I think the place we will still like to do business or do an acquisition…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
WPP-Scangroup founder Bharat Thakrar has resigned from the marketing and communication group as chief executive and director of all WPP-Scangroup subsidiaries. This follows his suspension alongside the Chief Finance Officer, Mr Satyabrata Das over allegations of irregularities. “The investigation into the allegations of gross misconduct and possible offences against the two executives will continue,” the Board said in a statement Wednesday. Bharat has working experience in advertising and communications spanning over thirty-six years. He holds a Diploma in Advertising and Marketing from the Communications and Marketing Foundation – UK. He is a former chairman of the Advertising Practitioners Association (APA)…
OPPO Reno5 F announced during the launch of the Reno5 series is now available in the Kenyan market at Ksh31,999. The Reno5 F is packaged in a simple, yet elegantly thin design that uses OPPO’s new Flowing Light Design concept to introduce two dazzling colours. Muthoni Wachira, Head of Communications & Projects at OPPO Kenya said, “Reno5 F is the culmination of both user feedback and the extensive research conducted on the latest technology that’s being deployed on Reno5 F. The 30W VOOC Flash Charge 4.0 ensures that Reno5 F is a great accompaniment to your life.” “Just as has…
Kenya Airways on Wednesday announced the appointment of Mr Habil A. Waswani as the Company Secretary effective immediately. Mr Waswani has over 19 years of corporate and commercial law, the airline said in a statement. Skilled in Commercial and corporate law practice, Legal Compliance, Arbitration, Company Secretarial Work, Dispute Resolution, and Legal Writing. He has worked in similar positions at National Bank of Kenya Limited, Kenya Reinsurance Corporation Limited, and Diamond Trust Bank Kenya Limited (DTB), all publicly listed institutions. Habil holds a Bachelor of Laws (LL.B) Degree from The University of Nairobi, a Diploma in Law from the Kenya…
Family Bank has joined the United Nations Global Compact network underscoring its commitment to undertaking sustainable and responsible business to advance inclusive development. This membership is in line with the Bank’s 2020 – 2024 Strategic Plan, dubbed ‘take-off’ that is aligned to 13 of the 17 United Nations Sustainable Development Goals (SDG) and the United Nations Environment Programme (UNEP) Finance Initiative on Responsible Banking and Sustainable Financing aimed at delivering value and creation of a sustainable future for all. “For long-term business growth and positive social impact, Family Bank will benchmark against global practices and access technical guidance and thought…
Kenya Airways (KQ) lost KSh36.57 billion ($333.2 million) in 2020 from KSh 13 billion in 2019. In March, it had projected a staggering loss of KSh40 billion in revenues. The carrier, which temporarily suspended operations last at the height of the coronavirus pandemic, said global flight and travel restrictions meant revenue dropped 59% to KSh52 billion as passenger traffic fell 1.8 million compared to 5.2 million in 2019. “It has been a tough year where we have faced unprecedented challenges. The situation continues to be difficult even as we gradually resume our operations, mainly due to the depressed demand for…