Author: Khusoko

Kenya’s Capital Markets Authority has cautioned the public against participating in any capital raising and public offer of shares offered by WIE Limited also operating under the name Women Investing in Entrepreneurship. CMA says it has noted discrepancies in the information provided in the firm’s website and the information given to the Authority in relation to its operations. “The Authority’s preliminary investigations revealed that WIE Limited has been raising money from the public through a public offer of shares targeting women as their customers and branding itself as ‘A women’s income and wealth incubator’. “WIE Limited business model furthermore seems…

The Central Bank of Kenya (CBK) has approved the acquisition of 100 percent shareholding of National Bank Limited (NBK) by KCB Group PLC. “The acquisition will strengthen both institutions leveraging on their respective well-established domestic and regional corporate, public sector and retail franchises,” said the Central Bank of Kenya on Monday. KCB Group is a Kenyan non-operating holding company that owns banking subsidiaries in the East African region in Kenya, Uganda, Tanzania, Rwanda, Burundi and South Sudan. It also has a representative office in Ethiopia. In addition, the Group owns non-banking subsidiaries namely; KCB Insurance Agency, KCB Capital, and KCB…

Kenya’s fastest-growing low-cost carrier, Silverstone Air Services, completed its maiden flight to Kabunde Airstrip, Homa Bay town from its Wilson Airport hub, Nairobi. https://twitter.com/KenyaAirports/status/1168385108174344192 The journey from Wilson Airport to Kabunde airstrip took 35 minutes flight with those on the inaugural flight parting with an introductory fare of KSh6,500 for a one-way trip. Silverstone’s Chief Operating Officer David Ojwang and the Sales and Marketing Manager Patrick Okech said the airline will offer daily morning flights.  “We are also contemplating on introducing afternoon flights should demand for our services increase,” Ojwang said. The daily flights will leave Wilson Airport in Nairobi…

Nigerian logistics startup Kobo360 has launched its operations in Kenya in its expansion drive in East Africa. The firm aims to foster seamless intra-African trade by connecting and supporting cargo owners, truck owners & drivers, and cargo recipients. The company has been in beta operation in Kenya for five months and has on-boarded over 3,000 trucks and truck owners. In the country, the company is already working with companies such as Bidco Africa, Union Logistics Limited, Intraspeed ARCPRO Kenya LTD. Bakhresa Group, Rafiki Millers and McNeel Millers. The regional office will be led by Ms.Kagure Wamunyu. Prior to this, Wamunyu…

Equity Bank has appointed John Wilson as the new Group Chief Operating Officer to oversee operations at the Group level while the Bhartesh Shah will lead the Group’s Enterprise Risk Management, who was the acting COO after Polycarp Igathe left the group. Dr James Mwangi, Managing Director and CEO Equity Group Holdings Plc said, “John brings international experience and joins a team of highly talented experts who are driving our Equity 3.0 strategy that will see the Group complete digitization and virtualization of the Bank while accelerating our Pan African expansion to 15 countries by 2024. His depth of expertise…

Kenya Airports Authority Managing Director & Chief Executive Jonny Andersen will leave office at the end of September. KAA said Jonny who has been with them since November 2016 opted not to renew his contract which was due to expire on November 21st, 2019. “Jonny brought good knowledge of the industry and an ability to forge consensus among stakeholders. He has served with distinction and I wish him well in his future endeavors,” said KAA Chairman Isaac Awuondo. Mr. Awuondo continued: “During Jonny’s tenure we built a strong foundation for future growth, including strengthening our management team, improving our operations…