Kenya-based apparel retail chain Deacons East Africa has confirmed the appointment of joint administrators to help rescue the firm. Peter Kahi and Atul Shah of PKF International have been confirmed to oversee the administration process after complying with the requirements under section 548 of the Insolvency Act. “The Joint Administrators shall take control of the business, property, and management of the affairs of the company and exercise any and all powers available to them under the Fourth Schedule of the Insolvency Act,” said the company in a notice published in the Daily. “As a result of the administration, the powers…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Disney has released the first teaser trailer for its long awaited live-action remake of The Lion King. Disney has released the official teaser trailer for Jon Favreau’s computer-animated remake of “The Lion King,” and it’s nostalgic to those who relished the 90’s. The trailer has the main characters of the classic 1994 animated movie including Mufasa, Rafiki and Simba. Further, the famous ‘circle of life’ song and the classic scene where Rafiki holds baby Simba in the sky. https://twitter.com/Disney/status/1065736135240966144 ****** “The Lion King” journeys to the African savanna where a future king is born. Simba idolizes his father, King Mufasa,…
British Super Model, activist, and actress Naomi Campbell is in Kenya again for the holidays. She flew into Kenya on Friday aboard Kenya Airways. The award-winning supermodel shared a picture of her together with the Kenya Airways crew. “From London with love, hello Kenya,” she said. https://twitter.com/NaomiCampbell/status/1066014337029103616 In April 2017, Campbell spent her Easter holidays in Malindi. About Kenya, she said, “Life in Kenya is natural and beautiful.”
Telkom Kenya has secured a loan worth $40 million from the European Investment Bank (EIB) to improve and expand its network. The funds will help the telco to increase its 3G and 4G coverage and invest in its Fibre-To-The-Building network, which will dramatically improve services to SMEs and corporate customers. “In terms of how mobile services are used, we could say that Kenya is ahead of Europe, and both the market and possibilities are growing fast,” EIB Vice-President Ambroise Fayolle said. “We are happy to support Telkom’s growth strategy in expanding its 3G and 4G networks across the country.” Read: Telkom…
Joyce Msuya of Tanzania has been appointed the acting head of United Nations Environment Programme following the resignation of Erik Solheim. Since May 2018, she has been serving as the body’s Deputy Executive Director. Solheim confirmed his resignation following severe criticism of his global travels. According to the Guardian, a draft internal UN audit in September found Solheim had spent almost $500,000on air travel and hotels in just 22 months, and was away 80% of the time. The audit said this was a “reputation risk” for an organisation dedicated to fighting climate change. Erik Solheim, in a statement he said…
Kenya’s house prices remained stable in the third quarter of 2018 despite a reduction in the pace of growth according to the latest Kenya Bankers Association House Price Index (KBA-HPI). During the quarter, house prices went up by 1.35 percent, representing a 0.41 percent drop from the 1.76 percent increase reported in the second quarter. The KBA-HPI attributes the stability to price changes remaining below one percent, partly due to market dynamics being tilted towards the influence of demand conditions. It, however, notes that while house prices were generally steady, the gradual decline in the rate of growth experienced over the first three…