Choppies Lays Off 583 Staff
Retail Chain, Choppies Supermarket, has laid off a total of 583 staff since September last year, as it struggles to remain afloat in the highly competitive supermarket business. Court documents [...]
Ex Stanbic Uganda CEO to Head Kenyan Unit
Patrick Mweheire is the new chief executive of Stanbic Holdings plc effective 3rd March 2020. Mweheire was the immediate former chief executive of Stanbic Bank Uganda. In addition, Mr. Mweheire [...]
South African Economy Slides into a Recession
South Africa's economy has slid into a recession following dismal perfomance in 2019. Latest statistics from the Statistics South Africa show economic contraction during the last two quarters of 2019. [...]EACC to Clamp Down on Errant SACCO Officials
The Commissioner for Co-operative Development Mr Geoffrey Nja’ngombe has warned that action will be taken against unscrupulous individuals who steal from SACCOs. He cited the worst affected as those societies [...]
CBK Floats KSh 50 Billion T-Bonds to Support Spending
The Central Bank of Kenya (CBK) has re-opened bids for 20 and 25-year fixed coupon Treasury Bonds, first floated two years ago. This is as the monetary authority seeks to [...]Kenya's Central Bank to Buy Dollars From Commercial Banks
The Central Bank of Kenya announces that it will commence buying of US dollars in order to progressively increase its foreign exchange levels above normal levels. CBK says the move [...]Galana Kulalu Project to be Revived
Israeli Ambassador, Oded Joseph, has revealed that plans are underway to revive the stalled Galana-Kulalu irrigation project, in a move that seeks to bring President Uhuru Kenyatta's Big Four Agenda [...]East African Countries to Raise Tax on Imported Mitumba' Clothes
Governments in East Africa are set to raise the tax on imported clothes, following a tax review that proposes an increase of between 30% and 35%. The move seeks to [...]Kenya Dairy Board's Revised Laws
The Kenya Dairy Board (KDB) has announced plans to launch the revised draft of dairy regulations on 9th March 2020. The board initially introduced the law to the public in [...]Wallstreet Up Slightly as Virus Fears Diminish
The World Health Organization (WHO) announced on Monday that outside China, there were over 8,000 infected cases reported in 61 countries, with 127 deaths caused by COVID-19 so far.South Korea, [...]Slaughter and Export of Donkeys Banned in Kenya
Kenya has banned the commercial slaughter and export of donkeys in the country. The decision came after protests from animal rights organisations such as The Brooke. This is a huge [...]Stanbic’s Net Profit Rises to KSh 6.4 Billion
Stanbic Holdings Plc has posted an increase in net earnings to KSh 6.4 billion for the financial year ended 31st December 2019. It is a slight improvement from KSh6.3 billion [...]
