Executives of telecoms company @AIRTEL_KE have launched a fight against contempt of court charges which put them at risk of fines or jail terms after the mobile operator was sucked into a dispute between the State and betting firm, @SportPesa - @BD_Africa
The mobile operator is seeking protection against a contempt suit filed by the betting firm which has accused it of failing to unblock gaming pay bill accounts and short codes used by its partner Milestones Games Limited despite a court order to do so.
The dispute kicked off last year after the State-run Betting Control and Licensing Board stopped Milestone from operating under the popular @SportPesa gaming brand, saying the trade name had been appropriated from its rightful owner Pevans East Africa Limited.
The retailer, which is now on its deathbed after suffering uncontrolled financial hemorrhage, had eyes and ears everywhere. It used the intelligence gathered to grow into East Africa’s biggest supermarket chain.
When it was second only to Nakumatt in size and revenue, @TuskysOfficial hired spies to gather intelligence on its rival, and was willing to splash the cash to become the bigger of the two elephants.
MPs committed to enact a law that will compel @CBKKenya to regulate monthly interest rates charged by digital mobile lenders and borrowers’ non-performing loans in honour of fallen Bonchari MP Oroo Oyioka. - @BD_Africa
MPs eulogised Mr Oyioka and the late Garissa Senator Yusuf Haji as devoted legislators who passionately articulated issues of concern without fear. Both Mr Oyioka and Senator Haji died on Monday. Mr Haji chaired the #BBINonsense prior to his death.
Mr Oyioka had sponsored the Central Bank of Kenya (Amendment) Bill, 2020 that is before Parliament for debate.
It is often said that the greatest wealth and the strength of any nation lies in its youth. This means that the youth not only shape the trajectory of a nation’s economy, they are also central to achievement of the United Nations’ SDGs. - Kasimu @SafaricomPLC HR
Data from the World Bank indicates that Kenya has the highest rate of youth unemployment in East Africa – with 17% of all young people eligible for work lacking jobs.
If we are to secure the future of the country, there is an urgent need to address the risk that the current acute unemployment situation presents.
Kenya will take new loans to repay the Eurobond when they fall due as part of its debt management strategy to reduce pressure on principal repayments. - @NationAfrica
.@KeTreasury has a solid plan to deal with Eurobond loans, which started maturing last year, all the way to 2024.
This means that Kenya will be back in the international markets soon, seeking new loans to repay the old ones, in what will see the loan refinanced in perpetuity, with the taxpayer only paying the interest.
Flora Mutahi is not your everyday captain of industry. She is the Chief Executive Officer and founder of @melvinsteas, one of the first companies in the region to venture into the flavoured tea industry. - @MaudhuiHouse
The accountant by training says that growing up, everyone thought she should pursue the highly regarded professions such as a doctor or a nurse.
In the ’90s, she says, venturing into business was seen as a path for people who were simply incapable of pursuing other lucrative careers. Mutahi’s interest in business would later see her pursue an executive MBA from the University of Cape Town, South Africa.
Kenyans need to memorise an old Italian proverb. “He who deceives me once, it’s his fault; but twice, it’s my fault.” Put differently, insanity is doing the same and expecting different results. - @makaumutua
Today, the Kenyan political landscape is at a fever pitch. Everywhere you turn in the republic, you see hordes of the hoi polloi listening in the hot sun to tall tales. The politician knows which buttons to push, over and over again.
Kenyan voters are like an abused – traumatised – spouse who keeps going back to the same abuser. Except unlike abused spouses, Kenyan voters are gluttons for punishment. They are free to divorce the politicians, but won’t. They are like Donald Trump and his minions of followers.
With the billions flowing into @SportPesa, Pevans East Africa Ltd, the cash cow of the Nikolov empire, embarked on an expansion phase. It opened companies or offices in Tanzania, SA, the Isle of Man, the UK, the Canary Islands, Russia and Italy.
But it is the local subsidiary, Bradley, that shows that despite Nikolov’s high perch, the notoriety of his past hung on him like white on rice.
Bradley, whose main brand was the @pambazukake lottery, was launched in May 2016 and, by the time it closed shop slightly less than two years later, had accumulated losses of more than Sh1.5B, which were written off in the books of Pevans in its 2018 accounts.
Regina Wamuyu Githaiga purchased a ticket number 003096663 for Sh65 on December 3, 2005. She was given part ‘A’ of the ticket and First Lotto sales agent — at an outlet managed by Sammy Kariuki Wambugu — retained part ‘B’ and ‘C’ of the coupon as per the rules. - @NationAfrica
Her combination won a jackpot of Sh12 million during a draw the next day. Excited, she rushed to the company to claim her prize, but soon learnt that getting her Sh12 million would not be a walk in the park.
Wamuyu presented her winning coupon on December 6, but the joke was on her. The lottery she had won was only in her dreams. The company disowned its own tickets and said no one had ever won the jackpot on offer.
Belief in God is one of the reasons seven in 10 youths do not think they are at risk of contracting SARS-CoV-2 virus; a new report by @Amref_Kenya has documented. - @StandardKenya
A report by Amref Health Africa has also listed lack of travel history, youthfulness, hot weather and the claim that the virus is not in Kenya as the reasons behind youth branding themselves as immune to the virus.
The report titled Lived experiences of youth during the Covid-19 pandemic: implications for policy and programme considerations in Kenya states that 74 per cent of individuals aged 18-35 believe their risk is low of getting the virus.
Kenya’s oldest lottery company, Kenya Charity Sweepstake @KCS_Kenya, has launched a digital platform in efforts to grow market share in the gaming and lottery market. - @BD_Africa
The firm, which has over the years been known for lottery scratch cards, will now have its services available online through mobile application and on the website.
KCS chief executive officer Yaron Farachi said the new development is part of rebranding of the company as it seeks to be the leading lottery firm in the country as well as adapt to the new realities in the market.
MPs have suffered a blow after the High Court on Thursday ruled that they refund Sh1M each received as house allowance after judges termed the pay illegal. - @BD_Africa
The 416 MPs had been paid the allowance for eight months before the High Court stopped the pay in May last year. The court directed clerks of @Senate_KE and @NAssemblyKE, to recover the cash within a year.
The MPs had been paid 357M for five-and-half months before @srckenya obtained a court order in May last year.
Wealthy Kenyans have stepped up the search for a second passport in the exclusive small Caribbean island nations of Dominica and St. Kitts and Nevis amid anxieties about the next elections and the effects of Covid-19 on the economy. - @BD_Africa
Global residence and citizenship advisory firm Henley & Partners in its latest report said that in the 12 months to November, Kenya saw a growth in enquiries about citizenship by investment (CBI) of 116%
This shows growing interest among the wealthy in finding a second home or “plan B” and a powerful passport that would further open opportunities for them.
Some weeks ago, @SafaricomPLC unveiled a new look mySafaricom App. The App continues to be the one-stop place for almost everything a Safaricom customer may need. This includes data, minutes, M-Pesa, newspapers, and more. - @TechishKenya
If you haven’t installed the new app, you should try it out. Safaricom is even offering free 500mbs for each new sign up – which is hopefully a good enough incentive for you to see what’s new, try it out and see if it works for you.
It’s true that thriving businesses usually sell an experience alongside the products or services which they provide. - @MaudhuiHouse
On Wednesday, @SafaricomPLC boss @PeterNdegwa_ announced the opening of a newly refurbished ‘Technology Experience’ Store that customers will enjoy visiting and hanging out.
This 10, 000sq feet retail store at Moi Avenue, Nairobi – that had been closed since August for renovations, will be the telco’s most iconic shop. Now that it’s re-opened, it’s twice as smart and certainly lovelier.
The “Deep State” discovered William Ruto when he was a student at the University of Nairobi. In those days President Daniel arap Moi often invited students from various regions to his residences in Nairobi or Kabarak. - @dailynation
During one of those visits, young Ruto was asked to lead in prayer and make a short speech. The President was impressed.
Subsequently, young Ruto would be among the few students invited to accompany the President on foreign trips.
.@Kemsa_Kenya which buys drugs for all public health facilities in Kenya is on the spot after a special audit unearthed procurement and financial irregularities that put at risk over Sh100B of donor funds. - @dailynation
A special audit of the parastatal conducted from October 2019 has recommended an overhaul of the entire procurement system at Kemsa and wants a new accountability system that has an end-to-end supply chain visibility platform installed to prevent losses and wastage.
In one of the most disturbing findings of the review, it has emerged that despite being given the monopoly to sell exclusively to government agencies, Kemsa has been overcharging counties by up to 77% for some essential drugs.
So far, #coronavirus has been slow to spread across Africa, but this has not been a function of any actions the governments have taken. - @dailynation
The measures to contain the spread of #Covid19 have not been linked to the low rates on the continent, even as these measures are proving so draconian as to risk mass protests throughout the region.
On the whole, however, East Africa’s governments have done the right things to contain the spread of the virus. They have ordered closure of markets, religious ceremonies, funerals and other crowd gatherings.