The Board of a member-driven investment firm, Safaricom Investment Co-operative (SIC) has appointed Churchill Winstone Ochieng’ as its new Chief Executive Officer (CEO) just a month after Sarah Wahogo, who served for two years left the company to pursue personal interests. His appointment 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. Before he was picked to take up the mantle, finance manager Stephen Mbugua was the acting CEO. “We are confident that his impeccable track record in…
Author: Victor Adar
Victor Adar
Victor Adar holds a Diploma in Mass Communication, Print, from Technical University of Mombasa. He has worked before for Reuters, Go Places travel magazine and Aden Associates International. As one of the old hands at NBM, having joined the team in 2012, Victor is one of the most reliable writers in the editorial team. He writes more on enterprise, corporate affairs, HR and technology.
The hotel will have 162 rooms complemented by a lobby bar, – the Junction –, as well as an all-day brasserie dining restaurant – the Dispatch. It will also have a fitness centre, an outdoor pool as well as meeting and event spaces catering to both small and large groups.
Marylynne Marube is already proof that you don’t need years of professional training to delve into some ventures. Her growth was powered by not only search engine, Google, but also from reading books and watching baking videos on You Tube. It was four years ago when the entrepreneurship bug bit her, and ever since, building the cake business has been the best thing to ever happen to her. Not waiting for the perfect time, Ms Marube started teaching herself in 2013 and by 2015 she had learned a lot on what to do, registered her company – Marie Sweet Cakes…
The government has delayed opening of schools to Monday, May 6, 2024, due to heavy rains witnessed across the country. Education Cabinet Secretary Ezekiel Machogu has said in a statement that some schools have been adversely affected by the ongoing floods and that reopening schools as earlier scheduled would put learners and staff of flood-affected areas at risk. “The devastating effects of the rains in some of the schools is so severe that it will be imprudent to risk the lives of learners and staff before water-tight measures are put in place to ensure adequate safety of all affected school…
An Absa Group subsidiary, Absa Life Assurance Kenya on Friday, April 26, posted a 90% increase in earnings to Sh862 million for the financial year ended December 31, 2023, thanks to investments in product diversification, digital capability expansion, and enhanced distribution channels. The company’s key performance indicators rose by double digits fuelling the robust financial results despite an unpredictable operating environment, with its insurance services revenues increasing by 29% to Sh5.9 billion due to new product lines, including the flagship endowment plan launched last year. Its investment income rose by 27% to Sh1.1 billion, reflecting its philosophy of investing funds…
A Pan-African organization focused on empowering young Africans with tech skills, Power Learn Project (PLP), has appointed its new board of trustees.
The reality of losing data only begins to sink when your non-water proof smartphone drops in a basin of water. Or, when your laptop falls down and fails to boot up.
Businesses are winding up in the wake of complex liquidation laws in Kenya, with data from the Business Registration Service (BRS) indicating that 2,030 firms were removed from Companies Registrar in the FY 2022/23. Besides, 2021/2022 saw 2,189 companies close down, mainly because of financial distress beyond recovery, economic unpredictability, and Covid-19 pandemic. Kenya’s business landscape has also witnessed its fair share of challenges, particularly in the realm of liquidation orders. One recent event captured significant attention – public service vehicles insurer, Invesco Assurance, endured a tumultuous seven-day period when the Insurance Regulatory Authority issued a liquidation notice, only to…
The National Assembly’s Communication, Information and Innovation Departmental Committee has pledged to consider legislative provisions to facilitate the expansion of Business Process Outsourcing (BPO) firms to all constituencies. Committee members led by Chairperson Waweru, John Kiarie, speaking during a familiarisation tour of Artificial Intelligence (AI) BPO firm, Sama at Nairobi’s Sameer Business Park, confirmed plans to undertake the necessary legislative reforms to accelerate the expansion of such firms to the constituency and ward levels. Noting that Sama employs more than 3400 staffers and serves global technology organisations, including NASA, Walmart, Google and General Motors, among others, the committee, Kiarie said,…
A shopping and recreational centre, Village Market and the United Nations World Food Programme (WFP) have launched an initiative to raise funds through art to feed families affected by climate change in North Rift part of Kenya. Funds raised through the annual art auction will be used to improve climate change resilience and nutrition for food-insecure families in Baringo County, where WFP is implementing the Positive Deviance Hearth Project. More than 65 artists participated in the inaugural auction held at the mall’s art gallery in Nairobi, raising Sh3 million ($30,000). The auction that was a showcase of art pieces also…