Choppies Supermarket Kenya, part of the Botswanan retailer Choppies Enterprises says it plans to sell its stores citing a highly increasingly competitive retail market. A few weeks ago, it also announced that it would be exiting the South African market too. “Zambia has a steady performance in a volatile economy, Kenya’s distressed business has been identified for disposal. Tanzania and Mozambique are distressed while Namibia is performing as expected,” Wilfred Mpai, Choppies director told shareholders during an extraordinary general meeting (EGM) with its shareholders on Wednesday. READ: Quick Mart and Tumaini Self Service Retailers Merge in Consolidation Drive In 2017,…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Zimbabwe’s first President Robert Gabriel Mugabe has died at the age of 95, President Emmerson Mnangagwa said. Mugabe died in Singapore where he was receiving treatment. “It is with the utmost sadness that I announce the passing on of Zimbabwe’s founding father and former President, Cde Robert Mugabe,” Mnangagwa posted on Twitter early on Friday. “His contribution to the history of our nation and continent will never be forgotten. May his soul rest in eternal peace,” he added. https://twitter.com/edmnangagwa/status/1169839311430115329 Monica Mutsvangwa, the minister of information, confirmed the death, saying: “Yes it is really saddening. Some of us were like his…
The Electorate of Kenya since the promulgation of the Constitution 2010 have had the clearest of choices and the tools to elect transformational leadership of integrity that can execute the strategic plan of Vision 2030 into reality. However, at the same time, they have repeated the mistakes made in the last nearly half a century since independence and elected corrupt leaders who are devoid of Integrity and who have continued to sink this nation into deeper poverty, unemployment, and hopelessness and thereby turning Vision 2030 into a dream, an unachievable mirage. This is because tribalism and ethnicity have become the…
QuickMart and Tumaini Self Service, two local Kenyan retailers, are set to merge after the Competition Authority approved the process. Tumaini Self Service Limited sold a majority of its stake to Sokoni Retail Kenya in December 2018, and Quick Mart at an undisclosed amount. “Quick Mart and Tumaini Self Service announce that their respective board of directors have authorised the commencement of a merger and business integration of the two companies. This follows the approval by the Competition Authority of Kenya on August 26,” reads a joint statement issued by Quick Mart managing director Duncan Kinuthia and his Tumaini counterpart…
Housing Finance Group customers will now be able to interact with the bank via the popular messaging service WhatsApp as part of its digital transformation strategy aimed at improving efficiency, targeting to return to profitability. The bank says the move will create a centralized communication hub for HF Group digital customer care interactions. “Our aim is to create a full-service bank on our client’s phones,” said HF Group chief executive Robert Kibaara on Thursday when they unveiled the platform. “A highly popular messaging platform with millions of active users in Kenya, WhatsApp unlocks an opportunity for us to offer our customers…
Two members of the Standard Chartered Bank of Kenya’s board of directors have resigned to take on different roles within the bank effective 30 August 2019. David Idoru who was the Regional Head, Retail Banking Kenya, and East Africa will be taking up his new position as the Regional Head, Retail banking in Nigeria and West Africa. He also served as the Group’s Program Director, SCB Way based in Singapore. He also served as the General Manager, Integrated Distribution, East Africa (Kenya, Uganda & Tanzania) during which he was responsible for branch banking, mobile, online banking and contact centers, based…