Author: Francis Muli

United Bank for Africa (UBA) chief executive officer (CEO) Isaac Mwige has resigned, and his place taken by a regional executive Emeke Iweriebor in an acting capacity. The news were shared through a statement to newsrooms, stating that Mwige had stepped down to pursue “other career interests”. “UBA wishes to announce the resignation of its chief executive officer, Mr Isaac Mwige, who has stepped down from his position to pursue other career interests,” read the statement in part. Read: Why Placing Deacons Under Administration Could Sink It, Never To Recover Mwige has headed the bank for four years, since 2014, when…

Several officials representing matatu associations and saccos have withdrawn their membership from the umbrella body, Matatu Owners Association (MOA). The members have accused their leaders of taking sides and collaborating with the government in the ongoing Michuki Rules crackdown. Among those that have withdrawn include Matatu Welfare Association (MWA), Matatu Travellers Vehicles Association (MTVA), Mount Kenya Association (MA), Association of Bus Operators Kenya (ABK) and Association of Matatu Operators (AMO). “We have decided to denounce our membership to MOA because we feel it has failed to defend us against the harassment that matatu operators in Nairobi have undergone since the…

A couple of days ago, Deacons East Africa was put under administration due to financial difficulties and recurrent losses. Consequently, the firm was suspended from the Nairobi Securities Exchange (NSE) market for 40 days. However, managers and decision makers rarely think about consequences of placing a company under administration Historically, very few firms recover from their financial woes after being placed under receivership. A good example is government owned Kenatco Taxis Ltd which decided to take a Ksh22.4 million bank loan in mid 1980s, with the objective of increasing its fleet. Over ten years later, the company was unable to pay…

Three black rhinos have been reported dead in the Maasai Mara National Reserve, adding to the 13 that died as a result of poisoning few months ago. The endangered rhinos, two adults and a calf, were found at the Mara Triangle on Tuesday night. Some officials suspected that the rhinos might have consumed a poisonous plant, while others said that the animals died of natural causes. Narok County Commissioner George Natembeya said that one of the rhinos was 57-years-old while the mother of the calf is believed to be between 15 and 20 years old. There are 49 black rhinos…

Wajir Governor Mohamed Abdi’s case at the Supreme Court has suffered a blow after the apex court threw out two affidavits filed by Kampala International University, affirming that  was a graduate of the institution. The affidavits were thrown out on the grounds that they were filed out of time. The affidavits stated that Mr Abdi was a student at the university between 2009 and 2012, opposed to a statement issued last month, denying that Abdi studied in the university. The affidavits were sworn by the founding vice chancellor Badru Katerega and academic Registrar Hamza Ssegawa. Read: Blow To Wajir Governor Mohamed Abdi…

Kim Jong Yang has been elected the Interpol President,  to replace Meng Hongwei who went missing in his native home in China in September. Yang floored Russian candidate Alexander Prokopchuk at a meeting of delegates from member nations in Dubai. https://twitter.com/INTERPOL_HQ/status/1065140054400614405 Hongwei, went missing on his return to China in late September. His wife Grace Meng raised the alarmed 10 days later and said she’d received threats via social networks and telephone. Chinese authorities later announced Meng was being held and investigated for alleged corruption. Meng, who was also a vice minister of public security in China, has been accused…

Bishop Margaret Wanjiru’s imported Toyota Prado is among the 568 cars set for auction by the Kenya Revenue Authority (KRA) for overstaying in the port of Mombasa. In a gazette notice, the taxman gave owners of the cars 30 days to clear the vehicles from the port to ease congestion, or risk losing the cars to auction. KRA chief manager for Port Operations Joseph Kaguru has already invited prospective buyers to view the goods on December 17 and 18 ahead of the auction. “Notice is given that unless the goods are entered and removed from the custody of the Customs…

East African Portland Cement Company (EAPCC) is set to sell its idle land to offset a Ksh15 billion working capital deficit after getting a nod from the Ministry of Trade. The Blue Triangle cement manufacturer requires Ksh15 billion capital booster to pay employees’ dues, repay a long outstanding Japanese International Cooperation Agency loan, refurbish its plant and settle suppliers’ dues. “A Cabinet memorandum to this effect has been prepared jointly by the Cabinet secretaries to the National Treasury and the Ministry of Industry, Trade and Cooperatives, which is due for submission towards the end of November,” said Trade PS Betty…

Tension is mounting between National Bank of Kenya (NBK) and most of its corporate clients, as the bank goes on the red line on several Central Bank safety ratios. The bank is struggling with bad debt amounting to more than Ksh30.1 billion, part of it which it might be forced to write off for non-recovery. Ksh4.2 billion bailout money from principal owners has also delayed. At Nairobi Securities Exchange, the share price for the lender has dropped by over 50 per cent, from Ksh9.15 last year to the current Ksh4.95. The bank’s capital has gone down by 83 per cent,…

You are likely to lose followers and likes on your Instagram account, after the Facebook owned photo-sharing platform announced plans to boot fake followers, likes, and comments. The exercise which kicked off on Monday will do away with fake followers, likes and comments generated by applications tailored to make accounts appear more popular than they actually are. The social media network said that the move was taken after accounts started using third-party apps to artificially grow their audience. “Starting today, we will begin removing inauthentic likes, follows and comments from accounts that use third-party apps to boost their popularity,” read a…

Sarova Whitesands Beach Resort in Mombasa is on the spot after feeding its customer, Vivian Kiarie, with a corrosive chemical while on her stay in Mombasa. Ms Kiarie, who has already sued the hotel says that the incidence happened on June 7, 2015, when she, her 15-year-old daughter and sister checked into the facility for seven days. However, on the second day of their stay, she consumed a corrosive chemical erroneously placed among bottles of drinking water in her room. This forced her to check out on June 11, 2015 and transferred to Serena Beach Hotel. They reported the matter to…

Days after exchanging insults with blogger Cyprian Nyakundi, Akothee is at it again this time with renowned blogger Robert Alai. What started as a simple invite for a business opportunity from Alai to Akothee later regenerated to a heated exchange on Instagram, with Akothee promising Alai “two minutes of fame on her wall”. “Hello. Nade Akothee? An tich moro ma akwayo ni igocha wawuoyee. (Hello. I have a job please call me),” read Robert’s message to Akothee. In response, Akothee posted on her Facebook page, “Robert Alai , the last time I heard about you is when you were insulting…

Deacons East Africa has been put under administration due to financial difficulties and recurrent losses. This is according to a public notice issued on Sunday, November 18, stating that the company has appointed Peter Kahi and Atul Shah of PKF Consulting as joint administrators of the company. “The primary objective of placing the company under administration is to enable it achieve a better outcome for the creditors than would likely to be the case if the company were to be liquidated,” Deacons CEO Muchiri Wahome said in a statement. The company has also been suspended from trading shares at the Nairobi…

More arrests are set to be done in connections to the ongoing Michuki Rules enforcement, as under cover detectives from the Ethics and Anti-Corruption (EACC) are set to join in during the festive period. This was announced by the National Transport and Safety Authority (NTSA) Director-General Francis Meja. “All the agencies involved will step up surveillance, especially on major roads and blackspots, to ensure motorists adhere to safety rules. We will not relent,” said Meja. Read: Personal Cars Turned Into PSVs As Matatus Withdraw Over Michuki Rules Crackdown On Monday last week, over 2,000 matatu drivers and conductors as well as passengers…

From Chinese to Israelites and Indians, Kenyans are still suffering at the hands of foreigners in their own soil, Kahawa Tungu’s investigative desk can authoritatively report. The latest on the spot for mistreating Kenyans is Israeli company H Young & Co (EA) Ltd, owned by an Israeli called Schwartzman. The most affected are drivers, who are currently on a go-slow due to mistreatment by a number of Indians working in the company. Our sources within the company intimate that the mid management is comprised of Indians headed by one Merybel. Under Merybel, the managers order for diesel for consumption by various vehicles and…