Business back to normalcy

Business is quickly returning to normalcy, with vendors hoping to earn their keep after the election fever dies down. While NASA failed to make the statement they wanted to yesterday where they had urged their supporters not to go to work, this has been disregarded with people thinking about survival rather than politics.

In Mombasa, operations at the port resumed  with the head of corporate affairs, Bernard Osero, affirming that the facility is now back to receiving, delivering containers and handling of conventional cargo.

He said that on Monday, 1,175 containers were delivered to the 16 Container Freight Stations (CFSs) and to upcountry destinations, while between August 8 and last Sunday, 106,669 tonnes of cargo was handled.

Companies like Grain Bulk Handlers Limited (GBHL) are working round the clock to clear a backlog of at least 14 vessels loaded with maize, bagged sugar and fertiliser that are waiting to offload cargo at the port.

Mombasa Governor Hassan Joho was assertive that demonstrations meant to destroy the Port City were not welcome.

In Nairobi, companies are resuming their operations, reporting progress like Half Year results and dividend pay outs. For instance, SBG Securities reported a 10-fold rise in net earnings to Sh27.9 million for the six months to June, signalling improved fortunes for stockbrokers after two years of falling profits.

At the Nairobi Securities Exchange, trading is continuing smoothly. 27 listed companies recorded improvements in trading led by CIC Group which recorded a gained from sh6.10 to sh6.65 as at 15th August. On the other hand, 13 companies recorded losses. Express Kenya Limited led the pack losing from sh4.00 to sh3.60. Moreover, 25 companies did not record any change in trading.

Today’s political event where the Kenya Revenue Authority (KRA) and the police raided civil society group Africog offices in Lavington have not disrupted the normal operations of the city.

Traffic is also returning both human and motor vehicles. Two days ago, the Matatu owners called for normalcy saying they had lost about Sh700 million in the five days due to election-related fears.

Most businesses like banks, shopping malls, stalls in Nairobi all opened their premises from Monday, signalling their confidence in government’s assurance of security in the country.

Airbus BizLab launched the #Africa4Future initiative, targeting East African startups that are innovating in the aerospace business. The Airbus BizLab is a global aerospace accelerator bringing together start-ups and Airbus’ entrepreneurs to transform innovative ideas into valuable businesses.

Today, Eveready is expected to make a special dividend payment of sh1.00 per share to shareholders’ whose names appeared on the register as at 19 May 2017


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