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Family Bank profit climbs 86pc to Sh297m: The Standard

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Family Bank has reported a net profit of Sh297 million for the three months to March 31.

Family Bank has reported a net profit of Sh297 million for the three months to March 31.

This was an 85.6 per cent improvement compared to similar period last year when the lender recorded Sh160 million in profit.
Total operating income was at Sh2.13 billion for the period, boosted by foreign exchange trading, compared to Sh1.79 billion in the first quarter of 2019.
The bank’s assets stood at Sh82.5 billion. As at December 31, 2019, the asset value was at Sh78.9 billion, with the gain attributable to an increase in loans and advances to customers.

SEE ALSO: Why KRA collected more tax in April despite virus

However, non-performing loans continued to swell, rising from Sh8.24 billion in December 2019 to Sh9 billion by the end of the first quarter of this year. Total insider loans and advances reduced by around Sh50 million within the period.
“The board of directors has approved the payment of an interim dividend of Sh0.24 per ordinary share of Sh1 each, subject to withholding tax where applicable…,” said a statement from the bank yesterday. 

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DP Ruto allies ask Uhuru not to forget their support since 2002

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By WYCLIFF KIPSANG

By TOM MATOKE

A section of leaders from Deputy President William Ruto’s backyard have waded into the widening rift in Jubilee Party telling President Kenyatta not to forget that he is where he is because of the Kalenjin community’s support.

The North Rift leaders were Wednesday categorical that it was the former President Moi who forced the late former nominated MP Mark Too to step down for him to pave the way for a young Uhuru to enter Parliament and subsequently contest the presidency.

Nandi Governor Stephen Sang and Chesumei MP Wilson Kogo said had Mr Too declined to resign, Mr Kenyatta probably would not have made it politically.

“The Kalenjin community has supported the President since 2002 including when Kanu lost power in 2013 and 2017 elections. It is only fair that the community is treated with decorum in Jubilee,” said Mr Sang.

Mr Ruto’s allies have continued to be ousted out of key positions in Senate with former majority leader Kipchumba Murkomen, majority whip Susan Kihika and Deputy Speaker Kithure Kindiki already stripped of their seats.

Jubilee secretary-general Raphael Tuju on Tuesday also announced the restructuring of Senate committees which saw the DP’s allies kicked out of key positions. The purge is now said to be headed to the National Assembly.

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The DP’s allies have however read mischief and are categorical that the purge is targeting leaders who have taken certain political stands and it has nothing to do with what Mr Tuju calls instilling discipline in the party.

“As Jubilee leaders from Rift Valley and the entire Kalenjin community, we are very concerned with what’s happening in Jubilee. We supported the president overwhelmingly but he seems to have forgotten us,” said Mr Kogo.

Chama Cha Mashinani leader Isaac Ruto, however, said the ongoing purge was normal in any democracy and called on the community not to panic.

“Claims that the restructuring is targeting supporters of certain individuals is neither here nor there” the former Bomet governor said by phone.

He said a party leader has a prerogative to restructure Parliament to ensure his agenda is pushed and crucial bills passed.

But Mr Sang said that all happenings in Jubilee at the moment point to attempts to force the DP out of the 2022 race.

“Such schemes will not succeed. We are owners of Jubilee and we are there to stay,” said the close DP ally.

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Giraffe Manor opens doors since Covid-19 struck: The Standard

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Tourists at the world-famed hotel. [Courtesy, Giraffe Manor]

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Kenyans welcome to experience hotel whose availability is hard to come by as it is often booked a year in advance

As a powerful indicator of light at the end of the covid-19 tunnel, one of Kenya’s most iconic tourism destinations, the Giraffe Manor re-opens tomorrow May 29, 2020.

The hospitality industry in Kenya, as most of the world, closed temporarily since March when flights were suspended and major restrictions imposed by the government to curb the spread of Covid-19.
The re-opening thus is a welcome development for an industry, and especially thousands of anxious workers, which has borne the harshest effects of the global pandemic.
Often referred to as one of the most Instagrammed properties in the world, the exclusive boutique hotel is set in 12 acres of private land within 140 acres of indigenous forest in the Lang’ata suburb of Nairobi.

SEE ALSO: Dealing with lockdown loneliness – from keeping active to coping without hugs

The historic manor house, modelled on a Scottish hunting lodge in 1932, has extraordinary appeal that harks back to the 1930s when European visitors first flocked to East Africa to enjoy safaris.
With its stately façade, elegant interior, verdant green gardens, sunny terraces and delightful courtyards, guests often remark that it is like walking into the film Out of Africa: indeed, one of its twelve rooms is named after the author Karen Blixen.

Giraffes check in for breakfast. [Courtesy, Giraffe Manor]

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One of the most fascinating things about Giraffe Manor is its resident herd of Rothschild’s giraffes who may visit morning and evening, poking their long necks into the windows in the hope of a treat, before retreating to their forest sanctuary.
The elegant long legged giraffes have roamed its lawns since the 1970s when conservationists Jock and Betty Leslie-Melville first adopted an orphaned Rothschild’s giraffe called Daisy. Since then, the globally recognised hotel has been the choice host for celebrities visiting Africa including Ellen DeGeneres, Mick Jagger, Brooke Shields, among others
For a start, however, a chance to experience the all-inclusive bucket-list property will only be available Kenyan citizens and residents who can still travel within Nairobi.

SEE ALSO: Hospitals opt for staff pay cuts, unpaid leave

This is an opportunity to experience an establishment whose availability is hard to come by; the hotel is often booked a year in advance.
Strict hygiene protocols and a special resident rate, valid for the month of June 2020, have also been announced to entice visitors.

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Easyjet to axe 30 per cent of staff : The Standard

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Thousands of easyJet staff are to lose their jobs under plans announced by the airline (Image: AFP via Getty Images)

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Budget airline airline easyJet said it plans to cut up to 30 per cent of its staff and shrink its fleet, to fit the smaller market it expects

Budget airline airline easyJet said it plans to cut up to 30 per cent of its staff and shrink its fleet, to fit the smaller market it expects to emerge from the collapse in air travel due to coronavirus.

EasyJet said it would launch a consultation process with its staff in the coming days, joining many of its airline peers in announcing job cuts.
Chief executive Johan Lundgren said: “We realise that these are very difficult times and we are having to consider very difficult decisions which will impact our people, but we want to protect as many jobs as we can for the long-term.
“We remain focused on doing what is right for the company and its long-term health and success, following the swift action we have taken over the last three months to meet the challenges of the virus.
“Although we will restart flying on June 15, we expect demand to build slowly, only returning to 2019 levels in about three years’ time.
“Against this backdrop, we are planning to reduce the size of our fleet and to optimise the network and our bases.
“As a result, we anticipate reducing staff numbers by up to 30 per cent across the business and we will continue to remove cost and non-critical expenditure at every level. We will be launching an employee consultation over the coming days.
“We want to ensure that we emerge from the pandemic an even more competitive business than before, so that easyJet can thrive in the future.”
The move follows similar board decisions by other airlines such as British Airways and Ryanair.
British Airways is set to cut 1,130 pilot jobs as the airline continues to struggle at the hands of the global coronavirus crisis. More than 12,000 jobs are at risk, with cabin crew claiming they’re being told to accept pay cuts to avoid redundancies.
Ryanair has also warned up to 3,000 jobs could be axed over the Government’s handling of the pandemic.
The low-cost carrier said it is currently negotiating pay cuts, unpaid leave and redundancies with employees and trade unions, amid a sharp fall in numbers due to the widespread travel ban.
Meanwhile, Sir Richard Branson has offered to remortgage his Caribbean Island to help save Virgin Atlantic, after warning it will collapse without Government aid.
The billionaire, who is hoping for an estimated £500million taxpayer bailout, said there is “no cash in the bank” as he pledged to sacrifice his Necker Island home to save the stricken airline.
EasyJet has around 15,000 full-time employees, meaning a maximum of 4,500 jobs are at risk.
The low-cost airline’s chief executive Johan Lundgren said: “We realise that these are very difficult times and we are having to consider very difficult decisions which will impact our people, but we want to protect as many jobs as we can for the long term.
“We remain focused on doing what is right for the company and its long-term health and success, following the swift action we have taken over the last three months to meet the challenges of the virus.
“Although we will restart flying on 15 June, we expect demand to build slowly, only returning to 2019 levels in about three years’ time.
“Against this backdrop, we are planning to reduce the size of our fleet and to optimise the network and our bases.”

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