1/ Today in the Daily Nation is the story of Tuskys' fall from riches to rags.
The Big Q is Where did the money all go?
Tuskys seemed to be doing well for nearly a decade:
2/ But all unraveled by 2020 when covid hit and creditors came calling:
3/ "Over the past two years, Tuskys has sold goods worth Sh537 million – slightly more than 1 per cent of the figures the giant retailer would hit before trouble started in 2020"
4/ The challenge is sibling rivarly:
5/ Hefty salaries and dividends and staff stealing:
6/ The key shareholders:
7/ The secret knight in shining armour from Mauritius:
8/ Equity Bank might be the final nail on the Tuskys coffin:
9/ Well, the competition has also been nibbling at whatever is left of Tuskys:
1. Kenya has signed a nuclear cooperation deal with South Korea to develop the Kenya Nuclear Research Reactor, aimed at applications in health, agriculture, industry, and clean energy.
@MaudhuiHouse @PeterMutegi @karambu @NSE_PLC @NSE_Investors @ArvoCap @Wanjiku_Njuguna @majiwater @bonnieoyunge_ @mwaniki_joseph 2. Parliament has directed East African Portland Cement to buy back Holcim’s 29.2% stake instead of selling to Tanzanian tycoon Edhah Abdallah Munif. MPs flagged the deal for undervaluing shares. businessdailyafrica.com/bd/corporate/c…
Starting 5th May 2025, NEMA will begin implementing the Extended Producer Responsibility (EPR) Regulations under the Sustainable Waste Management Act (L.N. 176 of 2024).
1/ A KES 150 levy will be introduced per item of packaging. 🧵
2/ What’s Affected?
The levy applies to nearly everything: plastic, glass, aluminium, paper, cardboard, rubber, leather, textiles, and composite packaging.
Think food wrappers, medicine boxes, cosmetic bottles, even sanitary pad packaging all fall under this.
3/ NEMA says the KES 150 will apply to "standard packaging" but that term isn’t clearly defined.
For example, if Panadol tablets are packed in strips, which come in boxes, the boxes packed into cartons, and the cartons stacked onto pallets - what exactly is considered the chargeable item?
Is it the strips, the box, the carton, or the pallet?
—The Transmission Master Plan (TMP) projects the need for an additional 9,600 km of transmission lines and a $5.2B investment by 2042 to support industrial growth and electrification.
—KETRACO is exploring Public-Private Partnerships to bridge the funding gap
2. Why PPPs?
—KETRACO projects have historically been financed through loans from development partners like the World Bank, AfDB, JICA, and Exim banks.
—The next set of funding from these partners is estimated to be available after the financial year 2028/2029.
—Total Assets: +17.7% to 3.5B
—Net Income: +8.5% to 235M
—PAT: +3.8% to 116M
—Dividend rate on deposits: 20%
—Interest rate on member deposits: 11%
2. Magereza DT Sacco:
—Total Assets: +12.7% to 7.9B
—Net Income: +33.4% to 606M
—PAT: +53.9% to 129M
—Dividend rate on share capital: 10%
—Interest rate on member deposits: 6%