BY ANTONY MUTUNGA For years the local telecommunication sector has seen a fierce competition with Safaricom PLC leading the park in what has pushed competitors, Airtel and Telkom Kenya to argue that the leaders hold an unfair advantage over them. Time and time again the competition has argued to the Competition Authority of Kenya (CAK) about the dominance of Safaricom that allows it to control market trends. However, each time the case has not yielded any result as the dominant Telco maintains a major market share. This constant discussion on dominance saw the Communications Authority of Kenya (CA) commission an…
Author: NBM CORRESPONDENT
BY GILBERT NG’ANG’A Anyone familiar with the tribulations of the giant cement maker Athi River Mining (ARM) Cememt for the past three years would have predicted that its fall from corporate glory was imminent. But few expected the slide to be that rapid and severe. Mid August, ARM’s days of magnificence came to a screeching halt. On August 18, the Nairobi Securities Exchange (NSE) floated manufacturer was put under administration, bringing on board global audit firm PwC to run the business. This marked the end of an era for a firm that has for years been Kenya’s second-largest cement maker…
By Victor Adar Fadhili Care at Green Park gated community along Mombasa road, which is a purpose built assisted living complex, is the latest package by Superior Homes Kenya coming couple of months after Machakos High Court stopped the Water Resources Authority from executing a demolition notice of houses that the company had constructed within Greenpark Estate. It was in June this year that the houses, said to have been built on riparian land by the developer were to be demolished. Nicholus Njogu, Superior Homes sales and marketing manager says that flooding was a major challenge thanks to construction on…
The appointment of Mary Wangari Wamae as the group executive director overseeing the Equity Group’s subsidiaries may be the latest change in the corporate scene. Taking over from the lender’s long standing managing director and CEO Dr James Mwangi, Ms Wamae will oversee the management of the Group’s banking subsidiaries in countries like Democratic Republic of Congo, Rwanda, Uganda, Tanzania and South Sudan. Although learning the ropes as a newly appointed director can be challenging especially during the first two years in the seat, with the right qualities, the experience, expertise and knowledge, one can help a company develop further.…
SGA Security has expanded its market reach to Kisumu County with the opening of a new cash centre that will support the growing need for financial services in the growing economic hub for Western Kenya and the Great Lake Region. Conveniently located in the Milimani area of Kisumu’s metropolis, the cash centre is built and fitted with the latest technological systems and equipment that are seemingly second to none in the country. It has a 24/7 armed guard cover, enveloped in the latest CCTV facial recognition system, restricted access control technology with several layers and a fire suppression system. The…
BY VICTOR ADAR Campus life, sort of, is all about living each day at a time. If money comes through, some comrades would use it the best way they can (buy some basic needs with it), while a majority will blow it up buying flashy phones, or go out and rave without worrying what will happen tomorrow. This explains why, common in our higher learning institutions, are the enterprising lot who make a kill by selling basic stuff like, say, perfumes, airtime, dresses, sandals, and even caps, to their peers. Sue Mueni is one graduate who scratched the ground, studying…
DHL Global Forwarding, a leader in international air, sea and road freight services, and Ethiopian Airlines have signed a new agreement to form a joint venture company – DHL-Ethiopian Airlines Logistics Services Ltd to build a cargo logistics provider JV company in Africa; the company will be based in Ethiopia and do business in the entire continent of Africa, enhancing Ethiopia’s logistics infrastructure and connections. Ethiopian Airlines, which assumes a majority stake in this joint venture, will provide regulatory and operational support as DHL Global Forwarding establishes air, ocean, and road freight connections between Ethiopia’s main trade hubs and the…
Family Bank customers and non-customers will now access instant loans and also set investment goals for periods between 3 to 12 months, earning attractive interest thanks to a revamped PesaPap. With the bank’s bosses referring to the upgraded app simply as Pesa bila stress, the full-service mobile banking application also allows consumers access to instant loan disbursements and repayments, as well as vanilla banking services such as funds transfer to accounts and mobile money wallets, bill payments, airtime purchase, scheduled payments, PesaLink, amongst others. During the launch of the fresh application in August, Family Bank’s managing director and CEO Dr David Thuku said that the revamped banking…
Hapag-Lloyd, one of the world’s largest container carrier in terms of vessel capacity, announced its plans to continue growing its import and export by handling more massive investments in the east African region, which it believes has a great potential. The multinational German-based logistics company launched the East Africa Service (EAS), which is the first in the region, in April. The weekly service move from Jeddah, Saudi Arabia to Mombasa and Dar es Salaam in Tanzania, and then directly back to Jeddah. The company is connecting the region to markets in the Far East, Europe, North America, Middle East and…
Equity Group Holdings has officially launched its fintech subsidiary, Finserve to start operating as an autonomous commercial enterprise. The firm, which has been active for the last three years under Equity will now operate on its own. Now the firm which has revolutionized the banking and financial sector with innovations such as Equity Bank’s Equitel, the Group’s Mobile Virtual Network Operator (MVNO) and the Eazzy app will not only deliver solutions to Equity Group but to the entire economy. This signals great things for the future, as it will be defined by disruptive innovation. “Finserve will now be an independent…