BT Intelligence

Imperial Bank depositors’ long wait

Fifteen months ago, Imperial Bank Limited (K) was placed under receivership. And it’s been hope against hope for depositors waiting to access their cash. In fact, some depositors have died due to shock, frustrations and lack of money to attend to their terminal illness aggravated by this situation, according to ...

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Nzioa Sugar managers in court over corruption

The Nzoia Sugar Company managing director and six other senior managers from the firm’s finance department were on Friday charged in a Bungoma court with embezzlement of funds. Mr Godfrey Sifuna Wanyonyi, the miller’s managing director, and the six managers appeared before a magistrate and were charged with the loss ...

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Safaricom HR manager quits

Safaricom’s HR director Maria Shipiri is set to leave the mobile services giant at the end of January after three years at the helm. In a memo to staff, Safaricom chief executive officer Bob Collymore said Ms Shipiri had left for personal reasons, Business Daily reports. “I wish to announce ...

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Afya House scandal firm fights back

Estama Investments, the company at the Centre of Afya House’s Ksh1 billion mobile clinics scandal, has moved to court to have the freeze on its bank accounts lifted. The company claims that the money in the accounts was not acquired as a result of any corrupt dealings as alleged. Through lawyer ...

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Safaricom maintains strong lead in mobile numbers

Safaricom added 669,594 subscribers in the three months ended last September, maintaining its market leader position with a total of 25.94 million users even as the total number of active mobile phone users dropped by 1.2 million. The drop in total mobile phone subscriber base from 39.7 million reported in ...

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Bank of Africa to fire staff after going digital

Bank of Africa (BOA) today announced that it plans to digitize most of its services in a move that will leave only 30 branches across the country and hundreds of employees without jobs. Nairobi County, which has the most branches, will now have 17, down from the current 25. The ...

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Dirty secrets of the 8 richest men

The world’s eight richest individuals have as much wealth as the 3.6 billion people who make up the poorest half of the world, according to Oxfam. The charity said its figures, which critics have queried, came from improved data, and the gap between rich and poor was far greater than ...

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Nakumatt sells 25% stake to strategic investor

Nakumatt Holdings has concluded a deal with a foreign firm, which has agreed to buy a 25 per cent stake in the company for $75 million (Ksh7.8 billion). Managing director Atul Shah said Wednesday the deal has already been concluded and they are only waiting for the money. “We are already ...

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Boost for tourism as cruise ship brings 1,049 tourists

The tourism industry today got a major boost when a luxury cruise ship arrived in Mombasa with 1049 tourists on board. MS Nautica, a regular caller at the Port sailed into the harbour some minutes past 7.00 am from Zanzibar, Tanzania for a day long. On board the vessel were 654 passengers and ...

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New CEO to get Sh311m bonus

Atlas African Industries Limited is set to award its newly-hired executive Willem Jacobus Bodenstein shares worth $3 million (Sh311 million) as his compensation for driving the company’s growth in the gaming business. The 2.3 billion Atlas shares to be allotted to Mr Bodenstein could see him become a significant –if ...

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