Motor vehicle dealers CFAO Motors Kenya, formerly Toyota Kenya, and DT Dobie have merged their operations to become one entity to increase efficiencies and grow market share. CFAO Motors Kenya said that the respective businesses of CFAO and DT Dobie, which holds the Mercedes brands franchise in the country, will be run under one entity – CFAO Motors Kenya. The companies have been operating independently for a decade despite their common ownership after Japanese conglomerate Toyota Tsusho Corporation (TTC) acquired trading firm CFAO Group in December 2012, taking over its many subsidiaries in Africa including DT Dobie. “The internal restructure brings…
Author: Victor Adar
Victor Adar
Victor Adar is a seasoned journalist with a Diploma in Mass Communication (Print) from the Technical University of Mombasa. He has previously worked with Reuters, Go Places travel magazine, and Aden Associates International. Since joining NBM in 2012, he has become a key member of the editorial team, covering enterprise, corporate affairs, HR, and technology.
Security solutions provider, SGA has partnered with car no.7 (pictured) for this year’s Rhino Charge competition in a bid to raise awareness and sensitization towards the conservation and protection of Kenya’s mountain range ecosystem. This year marks the 34th edition of the Rhino Charge which is an off-road 4×4 competition held to raise funds to support the Rhino Ark Charitable Trust; an NGO that deals with the conservation and protection of Kenya’s mountain range ecosystems popular as “Water Towers”. “At SGA Security, conservation and care of our environment is a key strategic pillar of our Corporate Social Responsibility. We are delighted…
A blockchain gaming platform, Zone has hit over 10 million play minutes since its global launch nine months ago becoming one of the fastest-growing platforms in Africa, Europe, Asia, and South America.The play-to-earn crypto-gaming platform that debuted in Kenya a month ago has also had 30 million total games played on its platform with 16 million total transactions in crypto. At the same time, the maximum reward in a single game has been about Sh 45,999 ($332) to the winning player. “Since we launched Zone globally and in Kenya, we have seen a surge in gamers playing our games more…
Oil marketer, OLA Energy Kenya has launched a clinic to serve its customers at their locations in an effort to offer a convenient solution to equipment diagnosis. Dubbed “O’Lab Clinic”, the mobile clinic is set to modernize vehicle testing by conducting rapid tests conveniently at a customer’s location, give a snapshot of the condition of their vehicle equipment, and serve both industrial and automotive customers. It will help in condition monitoring and diagnostics, which includes a battery tester to check battery health, an emissions tester to check the health of the vehicle exhaust systems, an engine diagnostics tester to check…
Family Bank and Wylde International have entered into a partnership that will see them collaborate to develop the Small and Medium Enterprises(SME) ecosystem through capacity-building trainings to help build resilient businesses. The partnership will see SMEs gain value in digital marketing, business strategy, planning, legal and compliance issues, sales and governance. “Our focus is particularly on the SME market who make up 80 per cent of our customer base. In light of this, as a financial institution, we recognize that we need to better empower and drive value to SMEs. Therefore, by offering such capacity training, we are complimenting the financial…
Bayobab, formerly MTN GlobalConnect, has entered into a partnership with Africa50 to develop a terrestrial fibre optic network that will connect the eastern and western shores on the African continent.Themed “Project East2West”, the project will see the two organizations pump up to Sh $230 million in an effort to connect 10 African countries by 2025. The partnership will offer substantial improvements in data traffic for internet service providers, mobile network operators and hyperscale’s operating in these countries. “The alliance is more than cables and connections; it is about building bridges of connectivity that span nations and bring people closer together,”…
The debt servicing cost has continued to rise. The latest revenue and net expenditures for the nine months of 2022/2023 FY ending March 31, 2023 show the debt-burden to total revenue stood at 56.4%. The total debt service in FY’2021/2022, according to the National Treasury, increased by 17.6% to Sh917.8bn, from Sh780.6bn in the 2020-2021 fiscal year. Equally, debt service to revenue ratio was estimated at 47.9%, 17.9% points higher than IMF’s recommended threshold of 30.0%, but 2.1% points lower than 50% debt service to revenue ratio recorded from 2020 to 2021. This signals difficult years ahead. The numbers are…
Oil and gas exploration and production firm Tullow Oil has acquired complete control of the Turkana County-based “project oil Kenya” following the withdrawal of its two joint venture partners, Africa Oil Corp and Total Energies from the project. With the exit of the two firms, Tullow will assume a 100% equity position, subject to the government’s approvals. The company is also expected to continue its work with the government and its host communities to make the region a significant energy-producing province. Tullow Kenya BV managing director Madhan Srinivasan, while reiterating the firm’s commitment to ongoing work in the South Lokichar basin project, said…
The debt servicing cost has continued to rise. The latest revenue and net expenditures for the nine months of 2022/2023 FY ending March 31, 2023 show the debt-burden to total revenue stood at 56.4%. The total debt service in FY’2021/2022, according to the National Treasury, increased by 17.6% to Sh917.8bn, from Sh780.6bn in the 2020-2021 fiscal year. Equally, debt service to revenue ratio was estimated at 47.9%, 17.9% points higher than IMF’s recommended threshold of 30.0%, but 2.1% points lower than 50% debt service to revenue ratio recorded from 2020 to 2021. This signals difficult years ahead. The numbers are…
Mr Bakkari will oversee operations in Kenya, Tanzania, Uganda, Rwanda, Burundi and Ethiopia French cosmetics company L’Oréal has appointment Yassine Bakkari its new managing director for East Africa, with his predecessor Serge Secre taking on a new role as MD for South Africa.Mr Bakkari’s appointment comes at a time when the cosmetics behemoth is on ambitious plan to implement its sustainability programme, establishing its vision with a focus on the impact of its products during use phase. Prior to joining East Africa, Bakkari was the operations director for L’Oréal Middle East where he developed an omnichannel transformation of the group’s…