Author: KahawaTungu Reporter

As Nakumatt continues to sort their current financial situation Tuskys supermarket has stepped up its plans to bail out the retailer chain. A new proposal involving the two retailers could see Tuskys end up with a 51 per cent stake in Nakumatt. “The intention is for Tuskys to take up the majority stake of 51 per cent because that then gives them a measure of control. This preliminary arrangement, once it receives the nod of the regulator will entail, Tuskys taking over management of Nakumatt so that effectively you have good management, you have finances to operate and pay the…

The Government of Kenya has managed to secure a deal with British-based multinational oil and gas exploration company Tullow Oil to construct a crude oil pipeline. The government through the Ministry of Energy has now carried forward their plans to build a pipeline from Lokichar, Turkana to Lamu town. According to reports, the project will be completed over the course of four years and will cost the government around Sh210 billion. Read: Government Introduces Kenya E-Trade Portal To Boost Local, International Trade So far Tullow Oil has discovered 750 million barrels of oil in South Lokichar Basin, Kenya since 2012. “This joint development…

After months of voting football fans across the globe were finally able to watch the FIFA Best Awards 2017 Ceremony unfold. The event which took place at the London Palladium in England Tuesday evening, October 23 and was the second of its kind following the ceremonies split from the France Football’s Ballon D’or. The host of the night was Idris Elba and the ceremony showcased a variety of stars in the British movie and music industry. The ceremony also showcased a variety of global talent from both men and women’s football. Read: Kwese TV Launches Three Day Entertainment Package The award…

Dubai is set to host next months Global Business Forum on Africa, an event that many are highly anticipating. According to reports, the Dubai Chamber of Commerce and Industry will be in charge of the conference which is set to take place on November 1 and 2, 2017. Several African leaders are expected to attend including Presidents Paul Kagame of Rwanda, Danny Faure of Seychelles, Yoweri Museveni of Uganda, Ameenah Gurib-Fakim of Mauritius and Edgar Lungu of Zambia. Read: Political Uncertainty Forces US Firm To Put On Hold Deal With Equity Bank President and CEO of the Dubai Chamber of Commerce, Hamad…

American multinational beverage corporation Coca-Cola has put forward plans to invest in Kenya as they aim to boost product range. According to reports, the company plans on investing $90 million over the course of three years. Coca-Cola is the leading soda provider in Kenya (its largest economy in the region) and is well known for its soft drinks like Fanta and Coke. Read: Botswana Retailer Choppies Plans To Open 40 Stores Across Africa On Tuesday, the company announced that they would be investing the $90 million (SH2.7 billion) over three years through 2018. “It brings the total investment by The Coca-Cola…

As Facebook aims to continuously improve their website the company has announced that they are currently conducting new tests. On Monday, Facebook shared that they are testing a news feed feature for its users that would see their feed separated into two; with one section focusing on the users personal news (Photos, friends) while the other displays business posts (advertisements, celebrity material). The test is currently being conducted in Bolivia, Cambodia, Guatemala, Serbia, Slovakia and Sri Lanka. Read: Political Uncertainty Forces US Firm To Put On Hold Deal With Equity Bank “The goal of this test is to understand if people prefer…

As the October 26 election nears several businesses both local and international will be awaiting the outcome. With a lot of uncertainty surrounding the election many businesses have been forced to hold off on several business deals as they await to see how the country moves forward. Equity Bank is one major Kenyan business to have recently been affected by the prolonged electioneering period. The company had initially planned a partnership with US firm Fenix International but due to the countries current economic situation with the election just a few days away they deal was put on hold. Read: Truecaller Looking…

As the world of sports braces itself for the Fifa World Cup set to take place in Russia next year, many sports fans will be wanting to book their travel tickets ahead of the tournament. Luckily for East Africans, Bunson Travel Service has received approval from Fifa to sell tickets to fans across Tanzania, Ethiopia and Uganda. “Fifa hereby confirms its approval of the exclusive appointment of Bunson on the terms set out in the agreement,” reads a letter from Fifa to Ms Scott. Read: Truecaller Looking To Set Up Headquarters In Africa Bunson Travel Service Managing Director, Julie Scott has encouraged fans…

The National Bank of Kenya’s mobile banking services is set to undergo a system upgrade according to a recent announcement by the bank. The banks mobile application provides customers with a variety of payment options such as National Hospital Insurance Fund (NHIF), utilities and school fees. The upgrade will also aim to provide more security as they continue to expand their services on a digital platform. Read: Naivas Supermarket Launches ‘Naivas Pay’ Payment Network “With this app, we can more easily offer our customers the banking products and services they need to help them reach their financial goals and, at the same…

The Kenya Association of Travel Agents (Kata) has responded to the current travel ban issued to government officials back in September. This follows a September memo issued by Chief of Staff and Head of civil service Joseph Kinyua to all government officials barring them from leaving the country. “This is to notify you that it has been decided, until further advised otherwise, no government official will travel outside the country without clearance by the president,” the memo read in short. “For avoidance of any doubt, the officials in reference include Cabinet secretaries, principal secretaries and officers in ministries, chief executive…

American fast food restaurant Kentucky Fried Chicken (KFC) has stepped up its plans to expand across the country. This follows the opening of a new drive though outlet along Waiyaki Way. KFC through their local franchise, Kuku Foods East Africa, are aiming to open three more outlets by the end of the year. Read: Eatout Kenya Now Partners With Hellofood to Offer Online Food Ordering “We listen to our customers and their requests form a big part of our growth strategy. We will continue to expand in years to come and strive to give every Kenyan the opportunity to experience our…

Nakumatt Supermarket has been dealt another financial blow following the closure of two more branches. The retailer chain was forced to shut down its Busia and Bungoma branch now bringing the number of outlets closed this month to five. According to reports, the supermarket has been forced out of several locations across the country over failure to pay rent. Nakumatt Mombasa Road outlet at NextGen Mall and at Thika Road Mall (TRM) are among the most recent of the retailers closures. Read: Court Approves Junction Mall’s Closure of Nakumatt The company is currently awaiting the verdict of a court case set to…

True to the befitting moniker bestowed on us by former Safaricom boss Michael Joseph, our peculiarity as a Nation precedes us. How else would you explain how we christen the likes of Huddah Monroe as “Celebrities” at the expense of talented sports figures and other personalities who’ve done us proud as a Country? Oh well, I wouldn’t be the one to rob her ilk the crown bestowed on them by the darling masses; still the likes of Huddah, Joe Muchiri and the clique of pea brained pseudo celebs need a crash course on basic manners and common sense pronto. Take Huddah…

With the Government of Kenya continuously working to implement their National Trade Policy comes the introduction of an online platform aimed at helping traders apply their trade both locally and internationally. Through the Ministry of Industry, Trade and Cooperatives comes the launch of the Kenya E-Trade portal which is part of a six month development plan that took place from March up until September this year. The online portal was unveiled at the Intercontinental hotel in Nairobi. It aims at providing traders with the necessary rules and procedures that come with importing and exporting through the help of the National…

County governments across the country have raised concerns over the delay in disbursement of county funds. Due to the delays the Treasury Ministry has had to give counties a Sh20.3 billion advance following a disagreement by the Senate over a cash allocation law approved by the Head of State. According to Treasury secretary, Henry Rotich, the County Allocation of Revenue Act (CARA) 2017 allocated by President Kenyatta was not the same as the one approved by Senate thus causing the delay in disbursement. Read: Ministry Of Energy To Set A Standardized Fuel Prize “The schedule of disbursement approved by the Senate…