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Willis Raburu Joins TV 47

by Mustafa Juma
written by Mustafa Juma

Media personality Willis Raburu has joined TV 47.

Sources privy to the arrangements have disclosed that the journalist-cum artist is set to be unveiled today Tuesday August 22, 2023, at the Cape Media Limited-owned TV station.

He will be hosting a show dubbed WabebeXp that will be airing every Friday from 10pm.

In June, Raburu quit Royal Media Services after 13 years. He used to host the famous 10 over 10 show among other shows on Citizen TV.

While announcing his exit from Royal Media Services (RMS), the ‘Kalale’ hit maker said he would be taking a break to continue with his Masters at the  United States International University (USIU). 

TV47  on Tuesday, July 18 relaunched and unveiled its new state-of-the-art studios in Muthaiga, Nairobi, and unveiled new renowned news anchors and reporters in a move to set the bar high in the broadcast media space.  

Willis Raburu will be joining Fred Indimuli, Grace Kuria, George Maringa, Victor Mukayane, and Hibaq Said who were recently unveiled. 

Raburu had joined Nairobi Governor Johnson Sakaja’s office after he left RMS.

Raburu while announcing his role at Sakaja’s office had described himself as a strategist and consultant, indicating that he would be involved in various projects for the governor’s benefit and other companies.

He expressed excitement about this new endeavor while still considering his options, including a potential return to the screen, acknowledging the growth of the digital space.

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Crime & Investigations

The Real ‘Mathe Wa Ngara’ On The Run as Police Launch Manhunt

by Mustafa Juma
written by Mustafa Juma

The real Mathe wa Ngara whose official name is Nancy Indoverie Kizungu, a popular bhang seller in Ngara, Starehe Sub-County in Nairobi is on the run.

This is after the police launched manhunt for her moments after arresting her accomplice Teresia Wanjiru on Tuesday August 15.

Detectives from the Directorate of Criminal Investigation (DCI) arrested Wanjiru alongside three minors.

The arrest came after Anti-Narcotics Unit and the Trans National Organised Crime Unit raided her place in the slums of Karuia which are sandwiched between Ngara and Parklands.

A consignment of cannabis sativa and Sh13.4 Million in cash was recovered during the raid.

Wanjiru allegedly works for Nancy Indoverie alias Mathee, who is said to be the main bhang distributor with associates from Isebania, Busia, and Moyale where the products come from.

Mathe wa Ngara is said to have a powerful influence that has seen her be in business without any police interference.

Reports indicate that she could use her connections to influence the transfer of police officers within Parklands, Central, Ngara, and Kamukunji Police Stations as well as influence the transfer of friendly and cooperative officers to desired stations.

In June 2022, Mathe was arrested with her associates and arraigned at Kahawa Law Courts where she was fined Sh525,000 before being released.

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Crime & InvestigationsLatest News

Senator Mandago In Hiding As Police Hunt Him Down Over Uasin Gishu Finland Scandal

by Mustafa Juma
written by Mustafa Juma

Uasin Gishu County Senator Jackson Mandago has run into hiding as police continue to hunt him down over the controversial Finland and Canada Overseas Education Programme.

The National Police Service has called on Kenyans to furnish them with details of the whereabouts of the former Uasin Gishu governor.

The senator together with three other top county officials, are wanted by police for prosecution over the county’s scholarship fiasco.

The police on Wednesday obtained warrant of arrest after Mandago went under.

According to the police, Mandago has been hiding since Tuesday night.

“The National Police Service is in the process of executing a Warrant of Arrest against Uasin Gishu Senator Hon. Jackson Mandago, who has gone underground since yesterday, and calls upon the Senator to present himself at the nearest police station,” the NPS said through its official social media handles.

Mandago had earlier on dismissed reports that he was hiding from the police.

He said he is available for summoning should the DCI come for him.

“There are rumours all over Eldoret Town that DCI Officers have been looking for me the whole night. As a law abiding citizen, I am available once summoned. I have met with the leadership of parents and agreed on the way foward as per their press statement issued last evening.

“I have met with the leadership of parents demanding refunds and agreed on the way foward as per their press statement issued last evening,” Mandago posted.

The Office of the Director of Public Prosecution gave consent for the prosecution of the officials in the fiasco.

They are supposed to face charges of conspiracy to commit a felony, stealing and abuse of office.

They are also accused of forgery.

They are accused of conspiring to steal Sh1 billion from an account domiciled at the Kenya Commercial Bank in Eldoret registered under the Uasin Gishu Education Trust Fund meant for overseas university fees for students under Uasin Gishu County Overseas Education Programme.

Mandago and the other officials were summoned to the Directorate of Criminal Investigation headquarters last Friday where they were grilled by a team that is investigating the Finland and Canada overseas education programme.

He confirmed the grilling but did not disclose what he told the officers about his possible role in the saga.

EACC is probing allegations of embezzlement of over Sh837 million by officials of the Uasin Gishu county government collected from parents for the facilitation of scholarship programmes for their children to Finland and Canada. 

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Sports

Rugby: Kenya International Bernadette Olesia is Dead

by Mustafa Juma
written by Mustafa Juma

Northern Suburbs Women skipper Bernadette Olesia is dead.

Olesia was a key member of the Lionesses squad that finished second at the Rugby Africa Women’s Cup held in Madagascar in May, 2023.

News about her death was announced by the Kenya Rugby Union on Tuesday morning.

According to reports, Olesia succumbed while undergoing treatment at the Nairobi Women’s Hospital on Tuesday morning.

Bernadette worked at the Shamas Rugby Foundation and played her club rugby for Shamas Rugby Foundation as an office administrator and Northern Suburbs Ladies Team.

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Latest NewsPolitics

List of Most Active MPs a Year After Kenyans Voted

by Mustafa Juma
written by Mustafa Juma

Mzalendo Trust, a non-partisan entity that keeps an eye on Kenyan Parliament has released its first scorecard for the Members of the 13th parliament.

The report has detailed the most active MPs, and those who have never spoken on the floor of the house since being elected in August 2022.

The most active MPs were Makali Mulu (Kitui Central), Beatrice Elachi (Dagoretti North), James Nyikal (Seme) and Ken Chonga (Kilifi South).

Among the youthful MPs, Gitonga Mukunji (Manyatta) of the United Democratic Alliance (UDA) stood out as the most active, having contributed a noteworthy twenty-one times. 

Mukunji’s engagement was followed, though at a distance, by Nominated MP Irene Maka, who also made a respectable twelve contributions. Not far behind, Jesses Lelmengit of Emghwen made eleven valuable contributions.

Additional youthful MPs who left their mark with substantial contributions included; Robert Ngui Basil (Yatta), Jushua Kamilu (Kaiti), and Amos Mwango (Starehe).

Over at the Senate, Samson Cherargei (Nandi) from the United Democratic Alliance made his presence felt as the most vocal member, closely trailed by Eddy Oketch (Migori), John Kinyua (Laikipia), and Mohamed Faki (Mombasa).

On the opposite end of the spectrum, the least active Senators were Mirah Abdullahi, Joyce Korir, and Shakilla Abdalla, all of whom are nominated. Also included among the less active were George Mbugua (Nominated) and Issa Boy Juma (Kwale).

Mzalendo Trust noted that the report covers only plenary proceedings, whose information is readily available to the public, and not committee sittings.

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National Assembly during a past session.
Latest NewsPolitics

List of MPs Who Have Never Spoken in Parliament For a Year

by Mustafa Juma
written by Mustafa Juma

A year after Kenyans went to the ballot to elect various political leaders, 15 Members of Parliament have not uttered a word on the floor of the house.

According to the 13th parliament first scorecard released by Mzalendo Trust, a non-partisan entity that keeps an eye on Kenyan Parliament, there are MPs who have not made their maiden speeches.

Kapsaret MP Oscar Sudi, his Makadara counterpart George Aladwa Nakuru Town West MP Samwel Arama have not uttered a word in Parliament since their election on August 9, 2022.

Others who have also not spoken a year since being elected are Charles Gimose (Hamisi), Feisal Bader (Msambweni), Innocent Momanyi (Bobasi) and Mohamed Soud (Mvita) and Fred Kapondi (Mt Elgon).

Those who have not yet made their maiden speeches include Kasarani MP Ronald Karauri, his Mvita counterpart Mohamed Soud, Rongai’s Paul Chebor and Vihiga MP Ernest Kagesi.

Others are Joseph Iraya (nominated), Teresia Wanjiru (nominated), Elizabeth Kailemia (Meru County Woman MP), and Muthoni Marubu (Meru County MP).

Mzalendo Trust, which monitors Parliamentary activity, based its findings on Hansard records from September 29, 2022, to June 30, 2023. 

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From Left : Former Rugby player, Humphrey Khayange, National 15s Squads Director, Moses Mukabane, KRU Commercial Director, Harriet Okach, KRU Chairman, Sasha Mutai, KRU DIrector, Alice Zawadi and KRU Vice chairman,Moses Ndale. Photo Credit: Arigi Obiero I KRU Media
Sports

Kenya Rugby Union Express Confidence in Chipu

by Mustafa Juma
written by Mustafa Juma
  • KRU has also described the World Under 20 Rugby Trophy tournament a success for Kenya, government and the union.

Kenya Rugby Union has begun designing a Talent Identification  Programme that will enable  the union monitor current school games and clubs to flag potential players.

The program is part of KRU’s bigger plan of establishing  a larger pool of  future young stars through an age-grade rugby       system.

“Initially the plans will be to identify, develop and support potential players in U20 and U18 divisions and increasing  number of high quality playing opportunities to expose the youngsters to national and international standards,” said Kenya Rugby Union (KRU) chairman Alexander ‘Sasha’ Mutai.

He added, “ We want to set the ball rolling for revival of the Kenya Schools Combined Team programme and are upbeat of the impending success of  Kenyan rugby through the initiative.”

Mutai expressed confidence in Kenya’s Under 20 team, Chipu’s  huge potential showcased in the just concluded World Under 20 Rugby Trophy tournament- emphasizing the need to expose the players  to high-pressure and competitive tournaments.

He described the Tournament as a very top level test for Chipu players who had warmed up for just a month and competed against opponents who had been training for over a year for the battle.

“The tournament has taught us very crucial lessons we are keen to urgently address. Our youngsters put up a good performance and in every game they recorded significant improvements  in both attacks and defense. They  had the power and grit to push harder in  most first halves but  could not sustain the pressure to the end to deliver victory,” said Mutai.

The Union also described the global showpiece as a great success for Kenya’s sports tourism, the government collaborative efforts through  steadfast support and a board that has been in office for just three months.

“ We are extremely proud to have delivered a smooth and highly competitive global event without incidences and disruptions and this affirms to the country’s readiness to host global sporting events. It also affirms  the success that comes with collaborative partnerships that this new board will continue to embrace, with all public and private partners ,” said Kenya Rugby Union Commercial Director, Harriet Okach.

She added, “Again, we  express  appreciation for  Kenyan government’s, World Rugby and Rugby Africa’s support in making the tournament a success and lifting the spirits of our  young sporting talents.”

Okach said the board will soon be reaching out to corporates for support on the next phase of developing young talents, affirming their commitment to deliver returns on investments extended by partners.

World Rugby Under 20 Chief Executive Officer, Ian Mugambi  said, “The event was highly successful. Everything had been put in place in time, meeting the entire requirement that World Rugby requires. The Union also made significant efforts to bring in the fans including a ticket sales drive and ensuring safety of players by enhancing their security during national protests.”

National 15s Squads Director, Moses Mukabane said, “The new plans will  bridge the player growth gap by fortifying rugby development pathways from age-grade in primary schools to junior competition levels in High school (U18) system. Focus is more on the process than outcome for this period.”

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Business

Finsco Africa Ltd Accused of Land Fraud, Faking Documents

by Daily Trends
written by Daily Trends

Most land-selling companies have been swindling unsuspecting innocent buyers for decades and we can report that the Kiambu land-buying/selling company Finsco Limited is no better.

What even makes it worse, is the possible involvement of the Principal Secretary in charge of irrigation PS Kimotho Kimani.

Documents in our possession show that the controversial and suspiciously philanthropic company owned by Mr. Mwaura among others who includes a sitting PS in the Ruto administration, has lately been selling hot air in the ongoing Murang’a plots, LR number 10875 owned by Hatwara estate limited. It’s not the first time the PS is involved in land-buying schemes as he was also in the “Legacy ” project.

The documents shows finsco Africa, faked a land search documents to push for a change of use for the 200 acre piece of land in the project named finsco limited Thika Grove Chania project, previously meant for agricultural purposes at the Muranga county government with the help of two CECs who gave the county Governor, Hon Irungu Kangata, misleading advice.

What is more worrying is that the land-selling company has been swindling unsuspecting victims where they pay for plots but can’t access them as most of these lands are still not ready for subdivision.

In the Muranga land, the owner had a loan with CFC bank of around 365 million shillings which is yet to be cleared for the bank to release the title deeds and hence the reason Mr. Mwaura had to fake a land search with the help of a Muranga CEC,Mr. Paul Mugo who previously worked for finsco limited, for the change of use.

Several complaints have been sent to the DCI offices along Kiambu road for investigations with reports indicating finsco limited ownership has bribed its way around the office and no arrests have been effected so far.

It’s yet to be clear how long Kenyans will continue being swindled by these land-selling companies with memories of the recently Gakuyo investments scandal still fresh in their minds.

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Lifestyle

Factors That Increase Your Risk of Developing Blood Clots

by Daily Trends
written by Daily Trends

Blood clotting is necessary in our bodies as this stops the blood from uncontrolled flowing after a cut or injury; but it’s when blood clots are created when they’re not needed, that they can become life-threatening.

A blood clot can slow or block normal blood flow, and even break loose and travel to an organ (embolism), which can cause a heart attack, stroke, or a pulmonary embolism (PE), the top three cardiovascular killers.

Deep vein thrombosis (DVT) occurs when a blood clot (thrombus) forms in one or more of the deep veins in your body, usually in your legs.

Deep vein thrombosis can cause leg pain or swelling but also can occur with no visible symptoms. 

More people succumb to the life-threatening conditions caused by thrombosis, the formation of a blood clot in blood vessels, than the total number of people who lose their lives to AIDS, breast cancer, and car crashes combined, every year.

This disquieting fact makes it clear just how important it is to ensure that we are all aware of the risk factors that play a role in the development of blood clots – especially as thrombosis is both preventable and treatable if you know the symptoms and contact a healthcare professional immediately if needed.

Dr. Henry Ddungu, of the World Thrombosis Day Campaign Steering Committee, provides insight into the eight factors that can help identify if you’re at risk for developing blood clots so you can prevent them:

  1. Getting older

Although any person of any age can develop a blood clot, the risk of thrombosis increases with age. Those over the age of 60 are at higher risk, because they’re more likely to have other health conditions that increase their risk of developing a blood clot.

  1. Gender

Thrombosis can impact anyone, no matter their age, background, or gender. However, the risks can vary for men and women. Men have an overall higher risk of thrombosis than women, but women have risks that men do not because of pregnancy, hormonal birth control, or even hormone therapy after menopause.

It is therefore important to take this into account when making any choices regarding family planning, pregnancy, or the treatment of menopause symptoms.

  1. Post-Surgery Recovery

Being in the hospital is a major risk factor for the development of venous thromboembolism (VTE). Indeed, up to 60% of all VTE cases occur during or within 90 days of hospitalisation.

At even higher risk, are patients who have experienced blood vessel trauma due to surgery. Orthopaedic, cardiothoracic, major general surgery, and neurosurgery are some of the types of surgeries that present higher risks for developing VTE.

  1. Smoking

Smoking can raise the risk of life-threatening blood clots as it damages the lining of blood vessels making it more likely for platelets to stick together at the damaged vessel lining and initiate the formation of clots.

Even significant exposure to passive smoke can affect blood coagulation activity.

  1. Patients with Cancer

The risk of VTE is increased, and common, in patients with cancer due to cancer-specific factors such as type of cancer, and cancer treatment as well as surgery and hospitalisation.

Cancer patients are four times more likely to develop blood clots than the general population. Blood clotting can have serious consequences for cancer patients as there is higher risk of recurrent thrombosis, the risk of bleeding during anticoagulation and hospitalisation is increased, while survival time is decreased.

  1. A Family History of Blood Clots

You’re more likely to develop blood clots if you have family members who have had dangerous blood clots. This is because inherited causes of blood clots are linked to your genetics.

People with a family history of life-threatening blood clots tend to develop thrombosis before the age of 45, although it is not very common.

  1. Being Overweight or Obese

Although being overweight or obese does not guarantee that you’ll develop thrombosis, weight can increase the risk of DVT as it puts greater pressure on the lower half of your body and increases pressure in the veins.

Additionally, other negative effects of obesity such as chronic inflammation can be a major catalyst for thrombosis.

  1. Immobility

When your legs remain still for long periods of time, it increases the risk of a blood clot as blood flow is hampered. Bedrest, hospital recovery, casts on legs, or even sitting for long periods of time while at work can result in a DVT which can cause pain. If part of the clot breaks off, it can also cause a PE which can be fatal.

Prevention of VTE

Your lifestyle changes may help prevent blood clots. If you have been confined in bed because of an illness, surgery, or an injury, move around as soon as possible. 

If you’re at risk for DVT, let your doctor know so they may give you medicines to prevent blood clots. When sitting for long periods of time, such as when travelling for more than four hours, try to get up and walk around every 1 to 2 hours; keep exercising your legs while you’re sitting; and wear loose-fitting clothes.

You can also reduce your risk of getting blood clots by maintaining a healthy weight and avoiding a sedentary lifestyle.

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Business

Showcase Your Talent and Win the All-New Infinix Note30 in the #TakeChargeWithNote30 Challenge

by Daily Trends
written by Daily Trends

Are you ready to take charge and win a brand-new Infinix Note 30 smartphone? Infinix is pleased to announce its exciting competition, #TakeChargeWithNote30, where you can showcase your talent, unleash your creativity and take charge of your journey. Click this link to join the competition now https://snssdk1233.onelink.me/bIdt/1lr3ib79

Whether you’re a fashionista, a sports enthusiast, a gamer, or a DIY lover, this competition has something for everyone. Get ready to dance, create, and participate in an epic TikTok challenge that will leave you motivated and inspired. Let’s dive into the details and learn how you can join this incredible competition!

Here’s how to participate:

  1. Get creative and showcase your talent (fashion, sports, gaming, DIY, etc.) in a captivating TikTok video.
  2. Ensure to shoot your video in a well-lit environment
  3. Use the Infinix filter to spice up your video and make it stand out (this can be found in the filter segment of the Infinix Kenya account on TikTok @infinixmobile_ke)
  4. Ensure your entry is counted using the hashtag #TakeChargeWithNote30 in your caption.
  5. For more information, access the competition link on Infinix Nigeria’s Tiktok bio (@infinixmobile_ke).
  6. Share your video on your Tiktok account.

Just in case you’ve forgotten, the Infinix NOTE 30 is designed with cutting-edge all-Round FastCharge technology that supports multiple charging methods, including wired fast charging, wireless fast charging, reverse charging, bypass charging, PD 3.0 protocol, intelligent charging, and safe charging across multiple dimensions. So, what are you waiting for? Grab your phone, showcase your talent and send in your #TakeChargeWithNote30 entry today!

For more information, promotions and news, follow Infinix Kenya on social media:

Instagram: @InfinixKenya

Twitter: @InfinixKenya

Facebook: @InfinixKE

Tiktok: @infinixmobile_ke

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Entertainment

Willis Raburu Quits Citizen TV, Announces Next Move (VIDEO)

by Mustafa Juma
written by Mustafa Juma

Media personality Willis Raburu has announced his exit from the Royal Media Services after 13 years.

Raburu has been hosting the famous adult-rated 10 over 10 show that airs on Citizen TV every Friday from 10pm.

He has also hosted the Day Break morning show on Citizen TV.

During his 13 years at Royal Media Services,  Raburu worked as an on-air personality for Citizen TV Kenya, and Hot 96.

He was a reporter, News Anchor and TV Presenter in the current affairs desk and also covered human interest stories and features.

Through his social media platforms, the journalist-cum music artist said he will be bidding farewell to Royal Media Services this week.

“This week, I bid farewell to Royal Media Services, my home for 13 remarkable years. Thank you for the platform to break barriers, inspire change, and connect with all of you. Onward to new adventures!” said Raburu.

He noted that he was quitting to explore new adventures.

Raburu is also a digital and communication consultant and erudite influencer who has been running his own entertainment agency called Bazu Entertainment.

Watch the video below to know Willis Raburu’s next move after exiting Royal Media Services.

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Politics

Oscar Sudi Speaks on Dropping Out of School at Class 7, Calls Out Media

by Mustafa Juma
written by Mustafa Juma

Kapsaret MP Oscar Kipchumba Sudi has broken his silence over a media report that claimed that he dropped out of school at class seven.

The Standard Newspaper had on Wednesday, June 22 reported that the lawmaker quit school while in class seven and did not proceed to secondary school.

The newspaper ran the story after Derrick Juma, an investigator from the Ethics and Anti-Corruption Commission (EACC) told the court that he visited all the schools Sudi claimed to have attended and interviewed the head teachers but the MP’s name was not listed as a student in any of the said schools.

According to the investigator, Sudi’s name only appeared at Luok Ngetuny Primary School in Eldoret where the teachers confirmed that he enrolled in 1995 under the name of Kipchumba Kipng’etich, but that he exited the school at Class Seven.

While responding to the report through his official Twitter account, Sudi said that he deserves to be celebrated if he has managed to get to where he is, as a class seven drop out.

He went ahead to call out Standard Media Group for what he termed as spreading falsehoods.

“If I can manage to this far just as class seven drop out then I deserve to be celebrated. Standard should stop spreading falsehood. Wacheni fitina,” Sudi said.

Sudi is accused of forging a diploma certificate in Business Management, issued by the Kenya Institute of Management (KIM) and a KCSE certificate and a school leaving certificate from Highway Secondary School.

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Business

East African Cables Operations To Continue As Usual, Chairman Michael Waweru Announces

by Daily Trends
written by Daily Trends

East African Cables has welcomed the court injunction stopping Equity Bank from placing it under administration as it announced that its operations would continue as usual.

High Court on Monday stopped attempts by Equity Bank to take over East Africa Cables and its parent company Transcentury PLC.

The Court Injunction issued on the appointment of an administrator to East African Cables took effect immediately ensuring business operations continue as usual.

“East African Cables PLC (“EAC”) would like to inform shareholders, partners, and the public that the company has obtained a court injunction in regard to the notice dated 16th June 2023 issued by Equity Bank to appoint an administrator to EAC,” said EAC chairman Michael G Waweru.

Waweru said the injunction is on the basis that the bank appointed an administrator while parties were engaged in negotiations.

He said: “I am glad that the brief setback that this unfortunate action had brought to the business is behind us and we can now focus on what we do best, providing quality cables to our customers across the region.”

In a press statement, Waweru decried the “ extreme and unfortunate action” by Equity Bank.

“ We have been in what we viewed as positive discussions with the bank up until a day before the appointment of the administrator, therefore the extreme and unfortunate action taken by the bank came to us as a surprise,” he said. “EAC is a renowned and astute business and we’ve been committed to meeting our obligations and continue to do so despite the prevailing challenging macro environment.”

The injunction by Justice Alfred Mabeya of the Milimani Commercial Courts put a stop to the appointment of the administrator and restrained them or their agents from performing any actions in the capacity of administrator of the company.

The move allows EAC to return to focusing on the business operation and strategy.

East African Cables is a household brand in the region, with the largest electrical cable manufacturing plant in East and Central Africa.

Since 1966, the company has played a key role in the electrification drive across the region, connecting households, factories, and streets with power.

EAC has over 200 employees in Kenya and Tanzania and works with a wide network of electricians, traders, distributors, consultants in the business ecosystem.

EAC CEO Paul Muigai added that “East African Cables is the undisputed number one cable brand in the region, we have built an admired brand that is powering nearly all homesteads, factories, streets in this country and beyond. We are synonymous with the electrification success of this country and are confident of our business model and the unwavering support from our customers, staff and shareholders. We are delighted to resume serving our customers in every corner of our country!”

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East African Cables
Business

East African Cables Obtains Court Injunction Stopping Takeover by Equity Bank

by Daily Trends
written by Daily Trends

East African Cables PLC (“EAC”) has obtained a court injunction in regard to the notice dated 16th June 2023 issued by Equity Bank to appoint an administrator to EAC.

The injunction is on the basis that the bank appointed an administrator while parties were engaged in negotiations.

“I am glad that the brief setback that this unfortunate action had brought to the business is behind us and we can now focus on what we do best, providing quality cables to our customers across the region,” said Dr. M.G Waweru on receiving the injunction.

“We have been on what we viewed as positive discussions with the bank up until a day before the appointment of the administrator, therefore the extreme and unfortunate action taken by the bank came to us as a surprise. EAC is a renowned and astute business and we’ve been committed to meeting our obligations and continue to do so despite the prevailing challenging macro environment,”added Dr.Waweru.

The injunction puts a stop to the appointment of the administrator and restrains them or their agents from performing any actions in the capacity of administrator of the company.

This will allow EAC to return to focusing on the business operation and strategy.

East African Cables is a household brand in the region, with the largest electrical cable manufacturing plant in East and Central Africa.

Since 1966, the company has played a key role in the electrification drive across the region, connecting households, factories, and streets with power.

EAC has over 200 employees in Kenya and Tanzania and works with a wide network of electricians, traders, distributors,
consultants in the business ecosystem.

East African Cables CEO Paul Muigai added, “East African Cables is the undisputed number one cable brand in the region, we have built an admired brand that is powering nearly all homesteads, factories, streets in this country and beyond. We are
synonymous with the electrification success of this country and are confident of our business model and the unwavering support from our customers, staff and shareholders. We are delighted to resume serving our customers in every corner of our country!”

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Business

Equity Bank’s Move To Place Investment Firm Transcentury PLC Under Receivership Suspended

by Daily Trends
written by Daily Trends

The High Court has suspended the move by Equity Bank to place investment firm Transcentury PLC under receivership.

The basis for the injunction stems from allegations that Equity Bank unlawfully appointed a receiver while negotiations were ongoing, constituting a flagrant breach of legal procedures.

The court-issued injunction effectively halts the appointment of the receivers and restricts them or their agents from taking any actions in their capacity as receivers of the company.

The injunction, issued by Honourable Justice A. Mabeya on June 19, 2023, comes in response to a notice dated June 16, 2023, which Equity Bank had issued to TransCentury PLC.

Transcentury and its subsidiary, East African Cables were placed under receivership over a Sh3.01 billion-shilling loan facility advanced by Equity Bank Kenya Limited.

The court deemed the application urgent and ordered that it be served promptly with a response required within 14 days, leading to a hearing on July 3, 2023.

“For avoidance of doubt, the receivership is temporarily suspended pending inter partes hearing of the application.”

TransCentury PLC expressed its satisfaction with the court’s decision, highlighting the irregularity that tainted the entire process.

“We are delighted to see that the court has recognized the irregularity that marred this very unfortunate and ill-intended process. We considered the bank as a partner and were engaged in what we believed to be positive discussions to reach an amicable agreement, just one day before the receiver was appointed by the bank,” stated Shaka Kariuki, Chairman of TC Group, upon releasing the injunction announcement.

“TransCentury is a significant business in Kenya’s economic landscape, we are committed to meeting our obligation, and hence the reason why we embarked on a Rights Issue transaction at the beginning of the year. Despite the challenging economic environment that Kenya and the world at large faces, we raised money from our shareholders and were preparing to settle on an agreement favourable to the business and the bank.”

The court-issued injunction effectively halts the appointment of the receivers and restricts them or their agents from taking any actions in their capacity as receivers of the company.

This development allows TransCentury PLC to refocus on its business operations and pursue its strategic objectives.

Nganga Njiinu, CEO of TransCentury Group, expressed confidence in the company’s resilient team and their ability to recover the lost time.

Njiinu emphasized their commitment to their mandate of making a transformative impact on Africa’s infrastructure.

“TC Group is steered by a very resilient team and I am confident that we shall recover the time lost as we continue focusing on our mandate of impacting Africa with transformative infrastructure,” Njiinu said.

The company’s Boards extend their gratitude to shareholders, staff, and partners for their unwavering support as they strive to steer the business towards growth.

As the court proceedings progress, stakeholders eagerly await further developments in this case, which holds significant implications for both TransCentury PLC and Equity Bank.

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Business

Why President Ruto must intervene on the Transcentury Issue

by Daily Trends
written by Daily Trends

The move by Equity Bank to place the infrastructure based investment firm Transcentury and its subsidiary East African Cables under receivership over a debt of Shs 4.8 billion is a wake up call to President Ruto and his government.

As President Ruto strives to create a conducive environment for investors to create and grow businesses in order to create jobs, the predatory move by creditors like Equity Bank will definitely derail the KK government job creation agenda.

Equity Bank this week announced that Muriu Thoithi and George Weru of PriceWaterhouseCoopers (PWC) have been appointed joint receivers of Transcentury with effect from June 16th 2023.

The bank also appointed Thoithi and Weru as joint administrators of East Africa Cables.

In an advertisement placed on local dailies, Equity Bank stated that “ The powers of director (of Transcentury) in terms of dealing with the company’s business and assets no longer apply. Any person who purports to hold, receive, use, or attempt to buy or sell, contract or otherwise deal with the company without the prior written consent of the receivers will be acting in contravention of the law and will be liable to legal action.”

The move has predictably alarmed the business community and every one else who cares about the Kenyan economy.

Everyone understands very well how such drastic and draconian actions by banks have in the past killed healthy companies, leading to massive job losses and sending thousands into poverty.

It’s common knowledge that receiver managers in kenya are like morticians whose clients never live after. Blue Chip companies such as Nakumatt, ARM Cement and Deacons East Africa never survived receivership.

Its still fresh in many people’s minds how the Kenyan horticulture sector suffered when the country’s largest flower firm Karuturi Limited was placed under receivership by Stanbic Bank over a Shs 383 million debt.

More than 3,000 workers lost their livelihood and Naivasha town has never been the same ever after.

The effects of the collapse of Nakumatt chain of supermarkets are still felt today.

Other companies which have suffered under these banks include Kinangop Wind Park, Pan Paper Mills, Spencon, Mumias Sugar and Eveready East Africa.

It is high time President Ruto intervened and saved local investors and businesses from these vulture-like banks who seem to derive sadistic joy in killing companies.

For starters the government must initiate amendments to the receivership laws to curb the cannibalistic tendencies of banks like Equity Bank who hardly care about public interest.
If not checked, the move by Equity Bank will take down another local success story and send thousands of employees into poverty during these hard economic times.

The banks must not be allowed to operate unilaterally without taking into consideration the interests of the staff, other creditors, clients, taxman, regional integration and the economy at large.

The president must intervene and bring together the business community to charter a new way forward for the country before these banks kill kenya’s economy.

Equity Bank must be told in no uncertain terms that its frustrating the government and the country’s economic aspirations .

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