Business highlights May 24 2017

Business highlights May 24 2017

EatOut receives Sh 52M from Craft Silicon

EatOut, a Kenyan restaurant listing and review site has received Ksh 51.6 Million ($500,000) in funding from Craft Silicon, a Kenyan initiative that provides software solutions to companies in the financial services industry.

EatOut offers a fine-dining experience to all its registered users. Users can search for restaurants based on location, cuisine or budget and get comprehensive information including contact details, menus, maps, opening hours, photos, reviews and much more

The two companies in a joint statement noted that the capital injection will be utilised for product development and expanding EatOut’s footprint into other neighboring countries.

Currently, the site covers four countries – Kenya, Uganda, Tanzania and Rwanda.

 KeMU shuts down satellite campuses, lays off over 150 employees

The Kenya Methodist University, popularly known as KeMU, has closed down three of its satellite campuses and laid off over 150 workers.

Vice- Chancellor Prof Henry Kiriamiti attributed the move to “dynamics affecting the education sector in the entire Kenyan economy”.

A termination letter sent to the affected employees stated that the institution was undergoing a restructuring process to enhance its effectiveness and competitiveness.

Campuses affected include those in Kisii, Nyeri and Nakuru counties, with the affected students expected to be transferred to the main campus in Meru.

The institution has also postponed its 17th graduation ceremony that was to be held on July 22 to October 14 this year.

 National Bank’s ex-CFO charged with Sh77m fraud

National Bank of Kenya’s former chief finance officer (CFO) Chris Chepkoit Kisire has been charged with defrauding the bank over Sh77 million.

Appearing before Chief Magistrate Francis Andayi, Mr Kisire denied the charges of fraud, abuse of office and breach of trust.

He is said to have committed the offences when he awarded a contract to supply furniture to a company known as Sygoin International Holding Limited without following procurement procedures of his former employer.

Kisire who was charged with others not in court was accused of using his position to capriciously effect payments of the monies to the said company without following procurement policy.



Previous News highlights May 24 2017
Next Sports highlights May 24 2017

You might also like

Latest 0 Comments

Joho, Junet Mohamed under siege in Migori (PHOTOS)

Rowdy youth attempt to stop Suna East MP Junet Mohamed’s rally in Migori Supporters allied to county governor Okoth Obado are believed to have been behind the fracas Mombasa Governor

Trending 0 Comments

4 ways to take better care of your mental health

Stress can wear us down and in the end, it will affect our overall health. Just so you are a bit more at ease this week, try one of these.

Latest 0 Comments

BRITAM launches operations in Arusha as part of firm’s expansion drive

Diversified Financial Services Company Britam Holdings plans to open more branches in Tanzania as the company seeks to increase its market share in the country. The company has launched its


No Comments Yet!

You can be first to comment this post!

Leave a Reply