Afternoon business highlights – November 24, 2017

Afternoon business highlights – November 24, 2017

Shauri Moyo traders receive Ksh1.2 million donation to cater for losses suffered during looting spree

49 Shauri Moyo/Jogoo Road small-scale traders have received a Ksh1.2 million donation from Nairobi County Governor Mike Sonko. The traders last week incurred losses amounting to over Ksh5 million  after their businesses were looted by a crowd following demonstrations last Friday.

SA now biggest exporter of goods to Kenya

South Africa’s imports to Kenya grew by Ksh11 billion in the first eight months of the year that saw Africa’s most industrialised economy overtake the United States in sales to Kenya. South Africa sold goods worth Ksh42.7 billion to Nairobi in the eight-month period, a 34% growth from Ksh31.7 billion in a similar period a year earlier. The faster growth in sales saw Pretoria displace the US to emerge sixth biggest seller of commodities to Kenya.

High Court suspends Nakumatt proceedings

The High Court has suspended the Nakumatt Holdings suit proceedings after it received an order from the Court of Appeal. Justice Joseph Onguto granted the application after Garden City Retail Limited applied to be enjoined in the matter as one of the creditors. Last week, Justice Onguto defied the orders and gave a ruling on Nakumatt operating under administration where he rejected their application. He said he defied the order citing errors in the names of the judge bench hearing the Garden City suit.

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