National Bank of Kenya (NBK) a subsidiary of KCB Group says it posted a profit after tax of Ksh 177 million for the year ending December 31, 2020, representing 167% growth from the previous year. This was driven by an increase in loan volumes and lower operating costs, even as the Bank battled the impact of the COVID-19 pandemic. “Even though the pandemic disrupted our plans, slowed our recovery journey, and impacted the business and our people, we still managed to deliver some growth. This is an indication that our fundamentals are solid and remained resilient to the shock,” said…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Iyeza Health, a healthcare start-up from South Africa was named the 2021 Sankalp Africa Awards winner The company collects and delivers high-cost and critical chronic medication for HIV, diabetes, and cancer treatment drugs from public health facilities to patient’s doorsteps through a bicycle delivery service called Iyeza Express. https://twitter.com/SankalpForum/status/1367386225699663874?s=20 Sankalp Forum, an initiative of Intellecap, hosted the virtual Sankalp Africa Summit from 2nd to 4th March 2021, bringing together ecosystem stakeholders to share insights on a variety of developmental topics. “Sankalp Forum is one of our largest initiatives that aim to bring the community together to help solve the problems…
Plan International-Kenya, a children’s rights organization, in partnership with the National Gender and Equality Commission (NGEC) on Wednesday, opposed proposals aimed at a reduction in the age of consent for sex. In a new report, they said “ There lacks enough evidence though, of the benefits of lowering the age of consent for sex,” adding that it should not be lost to all that a reduction in the age of consent for sex may regress the gains made by the country on gender equality and children’s rights through a decision that is not very well thought out. As a result,…
Eveready East Africa has appointed Thomas Mong’are Masaki as the interim managing director following the exit of Margaret Odhiambo after a three-year tenure. The firm’s Board said that Ms Odhiambo, the only one of the seven female CEOs in the NSE, had played an integral part in implementing Phase 1 of the Company’s recovery strategy under its strategic plan 2018-2022. Ms Odhiambo became the firm’s first female MD after taking over in February 2019 from Jackson Mutua. “In her tenure, the company has recorded tremendous organic growth in its new growth drivers and through it achieved consistent year on year…
Pan-African telecoms group Liquid Telecom has rebranded, recalibrated and repositioned as pan-African technology group Liquid Intelligent Technologies (LIT), with ambitions of expanding its services offerings across the African continent. In a statement seen by Khusoko, the rebrand to Liquid Intelligent Technologies highlights the organisation’s expansion of its Cloud business, Cyber Security services, and other technologies added to its existing telecoms and connectivity capability. This furthers the Group’s aim of accelerating growth by providing tailor-made digital solutions to businesses in the public and private sectors across the continent. “This strategic rebrand reflects Liquid’s new digital-first product offerings, enabling employees and customers to…
The International Finance Corporation (IFC), a member of the World Bank Group has appointed Amena Arif as its new Country Manager for East Africa and Malawi. In her new role, Arif will help IFC strengthen the private sector, create jobs and opportunities, and help businesses and economies in the region recover from the effects of COVID-19. She will be based in Nairobi, Kenya. Arif joined IFC in 2012 after building a career in commercial banking with Citibank and ABN AMRO Bank. She led IFC’s debt and equity investment transactions working with financial institutions in Pakistan, Afghanistan, and Lebanon. Most recently,…