Business highlights May 22 2017 – 16 Kenyan companies hit by global malware, CA reports

Business highlights May 22 2017 – 16 Kenyan companies hit by global malware, CA reports

16 Kenyan companies hit by global malware, CA says

The Communications Authority (CA) of Kenya has announced that about 16 companies in the country have been affected by the global ransomware attack.

The WannaCry computer virus has already affected over 300,000 users in over 150 countries worldwide, with the numbers expected to rise.

In a statement, CA said that it is working with stakeholders to mitigate the effects of the malware and asked firms to put in place preventive measures.

The attackers have been using the malware to demand US$300 (Ksh30,960) ransom to unlock affected devices payable through the global cryptocurrency known as Bitcoin.

READ ALSO: ICT Ministry tells Kenyans to watch out for malicious phone apps

President Kenyatta to lay foundation stone on Africa’s tallest building

President Uhuru Kenyatta will on Tuesday, May 23, 2017 lay the foundation stone at the construction site of what will be Africa’s tallest building.

The multi-billion investment in Nairobi’s business district of Upper Hill is a project of Hass Group and will be constructed the world’s largest construction company, China State Construction Engineering Corporation (CSCEC).

Hass Towers is set to open its doors in 2020 will stand over 300 metres high with 67 storeys, the tallest tower in Africa.

Once complete, this record-breaking development will include grade A offices, a 5-star Hilton hotel plus a luxury retail and entertainment complex.

READ ALSO: Hilton Worldwide to open Sh11 billion hotel in Nairobi’s Upper Hill area

 Tough task for Bidco’s new CEO as manufacturer sets one-billion-dollar revenue target

Consumer goods manufacturer Bidco Africa has set itself a one-billion-dollar (Ksh103 billion) revenue target over the next five years.

Speaking at a press briefing, Group Chairman Vimal Shah explained that the company’s growth trajectory and investment plans justified the target.

This growth will be led by Bidco’s new CEO, Mr Thiagarajan Ramamurthy, who was appointed in April in a drastic change of the company’s leadership that saw Vimal, the group CEO and Founder Director, become the company’s chairman.

READ ALSO: Corrupt CEOs to face Ksh5 million fine as EACC looks into sketchy procurement sector


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