Connect with us

Lifestyle

Kenya’s 2nd largest bank Equity Bank has just sacked 200 employees in neighbouring South Sudan

Published

on

Kenya’s largest lender Equity Bank has
sent packing 200 of its 300 workers in South Sudan following closure of
more than half of its branches in the troubled country.

The
lender has also frozen lending in the country due to political
uncertainty given the civil war that has seen businesses come to a halt.

Customers at an Equity Bank branch (Courtesy)

The bank, which had 12 branches in the country, is now operating only five outlets having closed down the seven branches in May this year.
This
move comes amid a decline in earnings having recorded a 7.4 per cent
drop in half-year after-tax profit as interest income took a hit from
the rate cap law.
The net profit for the period to June 2017 was at Sh9.33 billion compared to 10.07 billion in a similar period last year.
Equity
held assets in South Sudan worth Sh11.1 billion by December 2016.
However, the business has since been operating in the red, recording net
interest loss of Sh55 million and a loss before tax of Sh528 million.
Kenyan
financial banks raced to open branches in South Sudan anticipating
booming businesses in 2011 when the country attained its independence.
For
a while business was great but hell broke loose in 2013  when Rebel
leader Riek Machar fell out with Salva Kirr plugging the war torn
country into war since then.
Equity, however, does not yet plan to
exit the South Sudan market, it has adopted a wait-and-see approach,
hoping that the country will stabilise in the near future.

Advertisement

Ike Ani is a Freelance writer whose quest constantly is to relate happenings around the world to human daily living. He's also a song writer and singer, Acoustic Guitarist, and Teacher.

Click to comment

Leave a Reply

Lifestyle

L. A Prisoners Infect Themselves With Coronavirus To Get Early Release (VIDEO)

Published

on

By

A group of silly L.A area prison inmates were very eager to contract the dreaded coronavirus .

They attempted this because they believed that would trigger their ticket out of prison.

According to the L.A. County Sheriff Alex Villanueva who made the startling revelation Monday, said about twenty-four (24) inmates at the Pitchess Detention Center in Castaic attempted (and somewhat succeeded, apparently) to infect themselves way back in mid-April 2020.

The Sheriff revealed that their department saw an increase in spike in confirmed cases out of nowhere.

He said that when they investigated, they found a high number of inmates living in one block of the prison appeared to be deliberately trying to infect each other with COVID-19 any way they could from behind bars.

When Alex Villanueva played the surveillance footages he and his team combed through carefully , and it showed several inmates hanging out in a common area and passing around what Alex described as a hot cup of water, as well as one face mask they’d each put on all in hopes of getting sympathy from a judge to spring them from the facility and let them go home.

But it turns out, their little ploy worked but, only halfway.

Villanueva reported that 21 of the inmates (out of 50 in the block) caught the ‘Coronavirus.

“What they won’t catch is a break” said the Sheriff.

Watch the Video HERE

Advertisement
Continue Reading

Lifestyle

COVID-19 LOCKDOWN: 12 Year Old Albino Girl Suffers Eye Problems After Hawking Veggies In Abuja (PHOTOS)

Published

on

By

A very sad Facebook post greeted Nigerians from Abuja showing a 12 year old Albino Girl Grace, who started developing sight problems after Hawking Veggies under the scorching sun in Abuja.

The Facebook post stated that the little girl was asked to hawk the veggies by her aunt whom she lives with.

Below are the Screenshots of the Facebook post:

This sad news has sparked an outrage by well meaning individuals who spoke against such cruelty and insensitivity of the said girl’s aunt.

what do you think of this? Drop your comments below.

Advertisement
Continue Reading

Lifestyle

“Buhari is Made In London” – Reno Omokri Blasts Presidency On Nigerian Made Products

The Buhari administration has been known for enforcing the Nigerian people to patronize Nigerian made goods though without much strategy to make life easier while this transition to economic growth is enforced.

Published

on

By

Reno Omokri Nuggets

The Buhari administration has been known for enforcing the Nigerian people to patronize Nigerian made goods though without much strategy to make life easier while this transition to economic growth is enforced. Many Nigerians have tagged it a harsh move that is insensitive and inhumane but moreso, Reno Omokri has singled out signals of hypocrisy in the President of Nigeria by outlining certain traits of family moves of the President that shows that he(Buhari) as the No.1 citizen has no regards for anything made in Nigeria but yet wants other Nigerians to embrace Nigerian made goods.

Reno Omokri ‘s tweet reads:

His kids schooled in England. His wife just returned from a 3 month UK stay. His daughter gave birth to his grandchild in Spain (made in Spain), yet
@MBuhari
, who is London, wants us to patronise made in Nigeria!

Advertisement
Continue Reading

Trending