Author: Eva Nyambura

Nakumatt Holdings is closing down some of its branches. The retailer is seeking to cut cost by closing down the  poorly performing branches. Managing Director, Atul Shah says the new operating strategy has been developed to provide a recovery platform that replaces the Nakumatt 2.0 strategy, which was was developed in 2010. The strategy will reduce its total cost base by up to Ksh. 1.5 billion annually. Nakumatt will also reduce its store keeping unit (SKU) exposure by retaining frequently purchased items and delisting slow moving products. Closing of branches is likely to lead to job losses. The firm will also…

Sulley Muntari, Pescara’s Ghanaian midfielder, has promised to walk off the pitch again if he has to endure any more intolerance during a match. Muntari was sent off last week for leaving the field after claiming he was racially abused during a Serie A game against Cagliari. The 32-year-old, who was initially booked for dissent, had his suspension overturned, but the former Inter Milan star believes discrimination is “everywhere and getting worse” and he is determined to take a stand. “I went through hell and was treated like a criminal,” he told BBC Sport on Monday. “I went off the…

KCB Group was on Monday awarded the Best Bank in Mobile Banking award during the Think Business Banking Awards. The bank was recognized for its outstanding efforts to incorporate the latest financial technological advancements to keep up with emerging customer behavior trends. The KCB app, that was launched in 2016 saw the introduction of seamless mobile banking transactions that completely got rid of queues in the bank. KCB Bank was also awarded the Best Bank in product marketing after its investment in the youth proposition and the subsequent reception and success it has received with its 2jiajiri initiative. 2jiajiri is…

Machakos Senator, Johnson Muthama will not seek re-election for the seat in the general election and he is instead focusing on campaigning for NASA flag bearer Raila Odinga. Wiper party, led by NASA deputy presidential candidate Kalonzo Musyoka, did not hold nominations for the position. Muthama cited massive irregularities and injustice in the party, saying only the chosen few were given tickets and might be contemplating ditching the party. “I regret the way Wiper is being micro-managed to the disadvantage of some party members. My decision was influenced by the way Wiper affairs are being conducted,” he said. Muthama said…

Oburu Oginga has withdrawn his application to the East African Legislative Assembly, after leader of majority in the National Assembly, Aden Duale , claimed that he had been shortlisted for the position.  Oburu, who had been nominated through the ODM party, said he declined the nomination last week after consultations and that he would hence forth focus on campaigning for his younger brother NASA presidential candidate, Raila Odinga. “After consultations with my family and my own conscience, I have decided to drop my application for EALA seat,” said Oburu at a press briefing in Mombasa. He said he had already…

The Jubilee government is set to import at least 100,000 tonnes of sugar in order to contain the on-going sugar shortage that has seen a rise in prices. Alfred Busolo, Agriculture and Food Authority (AFA) Director-General said that 40,000 tonnes would be imported within two to three weeks while the remaining 60,000 tonnes would follow in two months. It is believed that corrupt business people are deliberately hoarding the commodity to create an artificial shortage and make profit out of it. Mr Busolo said that the shortage has been caused by a decrease in sugar cane production due to the…

The top Overall Bank award at the Think Business Banking Awards 2017, was once again scooped by Equity Bank. The bank scooped a total of 19 awards out of a possible 24 entries it had submitted. Equity beat other lenders by scooping the first position in 13 other categories; Best Bank in Mortgage Finance, Best Bank in Agency Banking, Best Bank in Retail Banking, Best Bank in Product Innovation, Best Bank in Trade Financing, Best Bank with the Lowest Charges to Individuals, Best Bank in Sustainable Corporate Social Responsibility, Best Commercial Bank in Micro Finance, Best Bank in Agribusiness &…

The Government will on Tuesday present new measures to Parliament to address the rising cost of living, which has become a major campaign issue. Under pressure from multiple sections of the society burdened by rising prices of essential commodities like unga (maize flour), sugar and milk. The Jubilee government will present a supplementary budget to the National Assembly, which reopens, to review budgetary provisions that can cushion consumers. The government would introduce the supplementary budget to the House to address the issue that has progressively assumed a political angle and turned into an election campaign issue. THE BRIEF “The President…

President of the National Olympics Committee of Kenya, was on Friday forced to call off the body’s elections after the Kenya Tae Kwondo Association (KTKA) obtained a court order blocking the process. An official from KTKA, presented  a court order to the Nock officials early Friday, forcing Keino to call off the polls at the Panari Hotel. KTKA sought an injunction, after being barred from taking part in the exercise along side Kenya Cycling Federation by the Centre for Multiparty Democracy-Kenya (CMD). CMD had stopped the two federations from participating in the elections over factional wrangles. The High Court issued…

Maralal GK prison’s, officer in charge, Simon Musyoni found dead. Simon who was an Assistant Commissioner of Prisons was pronounced dead on arrival at the Maralal Referral hospital on Friday morning. According to one of the officer’s,Musyoni was to travel to Nairobi today morning for a routine medical checkup. The officer said that his official car was fueled and his driver went to pick him up at around 7 am but found him lying unconscious on the couch. ”His driver rushed him to the Maralal referral hospital which is a few meters away but the doctors confirmed him dead,” the…

For a while now, Amos and Josh have been in the limelight for all the wrong reasons. The duo released their new hit single Heri Tuachane, only to pull it down hours later after Amos’ ex-lover, Cindy, threatened to commit suicide. Talking to the Pulse, the two singers, their manager Ally Ady and producer Bruce Odhiambo while recalling the events, described a tense situation that almost led to Amos quiting music all together. “This has nothing to do with my faith. I am a true believer in God and that can never be compromised. I am only human, it must…

According to the Kenya Bankers Association- Housing Price Index ( KBA-HPI), the average house prices in Kenya increased marginally by 1.10 per cent during the first quarter of 2017 compared to the 1.58 per cent rise during the last quarter of 2016. Residential property prices rose slightly against a suppressed demand due to reduced lending by commercial banks following the enactment of interest capping law in the last quarter of 2016. According to KBA Director of Research and Policy, Jared Osoro, the house prices evolution since the third quarter of 2016 represents a downward trend, being a reversal of the…

A team of 105 officers has been selected by the Director of Public Prosecutions (DPP) to handle electoral offences, hate speech and incitement to violence cases as political campaigns enter the homestretch. The team will be served by a 24 hour secretariat to coordinate and facilitate the prosecution team. DPP Keriako Tobiko said he had established a framework for inter-agency collaboration between his office, Directorate of Criminal Investigations, IEBC and National Cohesion and Integration Commission for effective detection, investigation and timely prosecution of election offences. “The DPP assures members of the public that his office has put in place election…

Uhuru Kenyatta will on Saturday be nominated by the Jubilee party as its presidential flag bearer in the August 8 polls. “The national delegates convention shall be convened on May 6 at the Bomas of Kenya,” party secretary, Raphael Tuju said. All the 19 interim party officials from every county,as well as sitting governors, MPs, Senators, Woman reps and MCAs will be present for the announcement at Bomas. Members of  the National Governing Council and newly nominated aspirants in the just concluded primaries will also be present. The officials are expected to rally the delegates behind their campaign against NASA leader…

National Land Commission officials had their homes raided by the EACC detectives in a probe into claims of corruption in the payment of Standard Gauge Railways (SGR) money. Chairman Muhammad Swazuri and vice chair Abigael Mbagaya were among those whose homes were raided. EACC officials said their probe into the claims is ongoing as they are still gathering  evidence. Also affected was the home of the valuation and Taxation Director Salome Munubi, director of finance Francis Mugo, manager Mary Ngundo among others. Other officials were summoned to the EACC offices for questioning. Ms Mbagaya said that some EACC officials had…