Author: Newsroom

Interior Cabinet Secretary Prof Kithure Kindiki.
In Brief
Newsroom

Six Immigration employees arrested over passport fraud

Six Department of Immigration Services employees, including an intern, as well as nine suspected brokers around the city centre have been arrested for their involvement in the corruption scandal surrounding passport issuance at Nyayo House, Nairobi. According to the DCI, the public and foreigners seeking passports and work permits were coerced into paying hefty bribes to access essential services. The rogue employees were exploiting a temporary system glitch at Nyayo House to line their pockets. They even deployed brokers around Nyayo House to lure desperate applicants and those with influence into securing special treatment. After investigation and profiling of suspects, detectives raided the Department of

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Fahari
Markets
Newsroom

The final call: ILAM Fahari I-REIT redemption offer nears end

The ongoing redemption offer for the listed real estate investment trust, ILAM Fahari Real Estate Investment Trust (I-REIT), is set to conclude tomorrow, October 6th. Addressing the redemption offer period, which paves the way for the conversion process, Einstein Kihanda, CEO of ICEA LION Asset Management (ILAM), noted that following the closure, trading of the ILAM Fahari I-REIT will be temporarily suspended at the Nairobi Securities Exchange (NSE). This suspension will run from close of trading on Friday, October 6th, until Wednesday, October 25th, in line with the timetable outlined in the Conversion Offering Memorandum and the Public Notice dated August 29th, 2023. Premium offer

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KCB Golf Series
Sports
Newsroom

KCB Golf Series heads to Machakos

The 14th leg of the KCB East Africa Golf Tour will be held at the 9-hole Machakos Golf Club this coming weekend. The morning action is expected to tee off at 7:00 am as 140 golfers brave the fairways to fight for the top two positions in a bid to qualify for the grand finale of the tour scheduled for next month at the Karen Country Club. The series has so far seen 12 teams book a spot in the Pro-Am event with the latest entries comprising Phylis Kisuna, J. Jesang, J. Cheruiyot, J. Kisuna, Phylis Kisuna, J. Jesang, J. Cheruiyot, and J. Kisuna joining the

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In Brief
Newsroom

Tuesday’s NSE Equity market up 263 percent to Sh228 million

Equity market activity at the Nairobi Securities Exchange (NSE) saw a 263.16 percent surge in Tuesday trading closing at Kes227.59 million from Kes62.67 million on Monday, indicative of renewed investor interest in the NSE. However, despite the boost in trading activity, the benchmark indices experienced a downward trajectory. The NASI dipped by 0.16 percent, the NSE 10 declined by 0.70 percent, and the NSE 20 slipped by 0.41 percent, concluding at Kes95.39, Kes946.95, and Kes1505.47, respectively. These figures contributed to a year-to-date performance of (25.17) percent for NASI and (10.18) percent for NSE 20. Additionally, foreign investors registered net outflows of Kes76.62 million, an increase

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NSE
In Brief
Newsroom

Foreign investors net sellers at NSE

Foreign investors were net sellers at the start of this week’s trading, recording net outflows of Kes3.71 million on Monday. This marked a significant contrast compared to close of trading last week when they recorded net outflows of Kes32.99 million. The change in foreign investment patterns could be indicative of their response to evolving market conditions and economic factors both locally and globally. The Nairobi Securities Exchange (NSE) saw the equities market turnover suffer significant decline of 26.13 percent. The turnover fell from Kes84.85 million to Kes62.67 million, signifying a substantial reduction in trading activity. This downturn in turnover could be attributed to various factors,

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In BriefMarkets
Newsroom

When Uchumi makes cents

Uchumi Supermarkets, a retailer that has barely any operational outlet was the biggest gainer at the Nairobi Securities Exchange underlying the dearth that has hit the market, which is now being moved by speculation. The former retailer gained 9.52 percent in Monday’s trading closing the market as the top gainer with stocks valued at 23 cents. Crown Paints was the second gainer at the bourse raising 9.4 percent to trade at Kes39 while TransCentury which is currently embroiled in a winding up suit with listed lender Equity Bank closed top three with an 8 percent gain to trade at 54 cents. Market activity on Monday

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Brands
Newsroom

Returning papa to the commercial break

I may not be a soda enthusiast, but I can vividly recall Papa Shirandula’s Brrrrrrrrr sound out savouring a bottle of that dark, fizzy elixir in a Coca-Cola commercial that graced our screens more than a decade ago. The ascent of Charles Bukeko, affectionately known as Papa, seemed to reach its peak when he broke through the screen with his unforgettable ads, including a captivating GOTV campaign. He even left his mark on global audiences with commercials filmed in far-flung locales such as Indonesia for Coca-Cola and South Africa for telco Vodacom. Papa’s humour was his stock in trade, etching his comedic brilliance into our

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HealthNews
Newsroom

Kenya’s CyberKnife set to check outbound medical tourism

Kenya could experience a surge in inbound medical tourism in the coming years following the historic launch of CyberKnife radiotherapy services for the treatment of cancer at the Kenyatta University Teaching, Referral and Research Hospital (KUTRRH). A team of Doctors at the KUTRRH have entered into the books of history after pioneering CyberKnife radiotherapy services, marking a huge milestone in cancer treatment across Sub-Saharan Africa. CyberKnife treatment is essentially an advancement in radiation therapy, offering precise and effective treatment options for a wide range of medical conditions, especially cancer. The technology helps minimize the side effects while improving a patient’s overall experience. Previously, accessing CyberKnife…

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In Brief
Newsroom

Sign language assistALL Mini App now on M-PESA App

Safaricom has partnered with Signs Media to host the assistALL mini-app, which provides on-demand sign language interpretation services, within the M-PESA App. The assistALL Mini App will empower Kenyans with hearing impairment, granting them equal access to opportunities that were previously hindered by communication barriers. It will help bridge the gap in sign language interpretation services across various sectors, including healthcare, judicial facilities, government services, finance, and transport, among others. “In a world that is increasingly reliant on digital services, this partnership is a milestone in our mission to make technology more accessible for everyone and contribute to a more inclusive society ~ Peter Ndegwa,

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Corporate
Newsroom

Safaricom renews in-country cloud services

Tech giant Safaricom has introduced an enhanced incountry cloud computing platform and a suite of associated services, aimed at facilitating the digital transformation of businesses and organizations. This move is designed to provide these entities with increased operational flexibility and resilience in response to an ever-evolving business landscape. The newly unveiled cloud services, hosted within data centers located in Nairobi and Kisumu, are underpinned by VMware technologies, known for their reliability and performance. Cloud computing resources Among the array of added capabilities, customers now have the flexibility to deploy their applications and allocate cloud computing resources through a unified interface. This streamlined approach empowers customers

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