Afternoon business highlights – December 6, 2017

Afternoon business highlights – December 6, 2017

Uchumi CEO resigns

Uchumi Supermarket Chief Executive Dr. Julius Kipngetich has resigned after two years attempting to turn around the struggling retailer. Kipngetich was appointed on August 26, 2015 and has helped Uchumi improve margins in a challenging retail environment. He has also secured a strategic investor in a deal expected to bring back the retailer back on its feet. Chief Financial Officer Mohammed Ahmed Mohamed has been named as the acting CEO as the Board seeks for a suitable CEO.

Deloitte CEO Sammy Onyango to step down

Deloitte East Africa’s chief executive Sammy Onyango is set to retire from the consultancy firm in May next year, bringing to a close his eight-year tenure. Mr Onyango, who will have served the company for nearly 38 years, will be replaced by Ghanaian Joe Eshun.

National Building Inspectorate says 650 faulty buildings should be demolished

The National Buildings Inspectorate (NBI) has identified more than 650 faulty buildings across the country. The real estate sector regulator stated that the structures are unfit for human occupation. Nairobi’s Huruma estate tops the list of areas with dangerous building, having been found to have 388 such structures, followed by Thika Road and Pipeline. Other areas with structurally poorly-constructed buildings include Babadogo, Dagoretti, Umoj , Nairobi West and South B.

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