Business highlights – August 31 2017 – Asia’s Iflix enters Kenyan market

Business highlights – August 31 2017 – Asia’s Iflix enters Kenyan market

Asia’s Iflix enters Kenyan market:

Asia-based Internet TV service provider Iflix has launched in Kenya, anticipating to get a fair share of the country’s film market.

The firm, which is a leading provider for video-on demand in emerging markets, announce its entry into the country on Tuesday evening.

Consumers can now sign up for a 30-day free trial via iflix’s website, www.iflix.com, giving them unlimited access to thousands of the world’s best TV shows, movies and more on every device they own, with no credit card required and no obligations.

Iflix Kenya country manager Peter Coogan said they are looking forward to revolutionizing entertainment in Kenya.

Crown Paints posts 51% increase in net profit in HY1:

Leading coats and paints firm, Crown Paints, has reported a net profit of Ksh60.4 million for the half year ended June 2017 on the back of lower profits.

This marked a 51.6% increase from the net profit of Ksh39.8 million reported in the same period last year.

The firm has attributed the performance to a drop in its current tax bill which has decreased by 18.5% to Sh49.6 million, boosting the bottom-line as the pre-tax earnings grew at a slower rate of 9.2 % to Sh110.1 million.

The firm’s sales also grew by 5.5% to Ksh3.7 billion.

Ecobank Kenya sets up kitty in aid of Sierra Leone flood victims:

Ecobank Kenya has unveiled an aid kitty in support of victims of the Sierra Leone floods and mudslides that have left over 400 people dead and over 3000 homeless.

Proceeds from the fund, dubbed “Help Sierra Leone Flood Fund”, will be channeled to the victims through the government of Sierra Leone.

Donations can be sent to Ecobank account Number 0303015027311901, Account name Sierra Leone Flood Fund, Fortis Office Park Branch. Those donating via M-Pesa, should use Paybill 700201 while quoting the above Ecobank account number.

 

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