Safaricom Investment Co-operative (SIC) shareholders approved a Sh142.4 million rebate payout during the 15th Annual General Meeting. This comes after the cooperative reported a Sh203.4 million in net profit for the year that ended December 31, 2023 against Sh266 million reported in the same period under review in 2022. The net profit represents 8.1 per cent return on its capital of Sh2.5 billion. The total revenue from land and housing for the co-operative over the period stood at Sh1.5 billion, a decline from Sh1.8 billion recorded in 2022. Land business continues to be the co-operative’s biggest contributor to total revenue…
Author: NBM CORRESPONDENT
The move reflects the hospital’s dedication to bringing healthcare services closer to the communities it serves. Aga Khan University Hospital has unveiled its home care service in a move aimed at enhancing access to quality healthcare. The hospital initially introduced the services in 2022 as a pilot program, focusing primarily on oncology patients undergoing chemotherapy treatment and palliative care, but the positive outcomes observed during the trial phase have paved the way for a full-scale implementation. During the launch ceremony, CEO Rashid Khalani emphasized the innovative nature of the new service, highlighting its ability to provide flexibility for patients and…
The 2023 Sports Personality of the Year Awards (SOYA) celebrations scheduled for March 1, has received a Sh6 million to host this year’s gala at the Kenyatta International Convention Centre (KICC). Dubbed “Celebrating Sporting Excellence,” this year’s SOYA celebration, which marks 20 years since distance runner Paul Tergat conceived the idea of paying homage and recognizing the country’s top performing sports personalities across all disciplines, has 11 categories and resonates with the milestones the country’s sportsmen and women have achieved over the decades. “In this edition of the SOYA awards, we are marking a major milestone of recognizing, honoring and…
The Nairobi Securities Exchange (NSE) has appointed Frank Mwiti as its new CEO effective May 2, 2024, to replace Geoffrey Odundo whose term will end on March 1, 2024. In a statement issued on Tuesday, February 20, the NSE recognised the dedication and outstanding performance of Mr Odundo for the nine years he served as the chief executive. “Through his pioneering vision, he has transformed the NSE into a world-class exchange anchored on a wide variety of globally accepted investment products and cutting-edge technology, including the Real Estate Investment Trusts (REITs), Exchange Traded Funds (ETFs), Derivatives Market, Green Bonds, the…
After days of gaining value against the US dollar, experts warn that the Kenyan shilling may continue to experience a decline, pushing up the cost of basic goods and services. A document prepared by the Parliamentary Budget Office (PBO) and published on Monday February 19, 2024, shows that local currency is likely to continue depreciating against the US dollar for much of 2024. This depreciation in the value of the shilling, PBO points out, is likely to be informed by factors such as the ripple effect of high US interest rates, geopolitical tensions and the rising cost of imports, which…
Mango farmers in Makueni County decry exploitation as middlemen pay peanuts for the commodity only to sell the same at huge profits Lack of a ready market has contributed to the continued exploitation of mango farmers in Makueni County by middlemen, who buy the commodity at low prices, only to sell the same at huge profits elsewhere. The county’s chief officer for agriculture, Japheth Kiminza, speaking at Kwa Kathoka Agricultural Training Centre, during the launch of Faidika, a project which aims at promoting fruit value chain while ensuring market access to fruit farmers, said the farmers are yet to find…
A manufacturer, Mahindra Tractors has partnered with Simba Colt Aspire, a subsidiary of Simba Corporation Ltd, to launch three tractors as it seeks to strengthen its presence in the Kenyan agriculture market.
Africa’s logistics sector is growing into a lucrative market and strategic hub within the global logistics network as investors’ confidence in the sector increases.
The Zero Malaria Campaign Coalition under the auspices of the ministry of health’s national malaria control program has launched a new malaria campaign aimed at reducing the number of infections in the country. Dubbed the “Power of EveryONE”, it seeks to give every Kenyan the opportunity to play their part in the national goal for zero malaria and ending the deadly disease for good. The “Zero Malaria Starts With Me” campaign was on Thursday February 15, launched at an event hosted at the Afrika House in Karen Nairobi. The campaign was developed through extensive community engagements and in collaboration with…
Airtel Kenya has opened a customer care shop in Maralal town, Samburu County as part of its ongoing efforts to improve customer service and enhance accessibility to its products and services. The shop, located at Umbrella Mall, brings to a total of 67 Airtel customer care shops spread across 40 counties within the country. This addition to Airtel Kenya’s service footprint underscores the company’s dedication to meeting the evolving needs of its valued customers. With over 2000 Airtel outlets nationwide, the company is delivering on its commitment to bring services closer to its customers. “We are delighted to open our…