The company posted a 244 percent increase in losses in the first six months of 2017 to Sh180 million compared to Sh52 million loss in the first half of 2016/FILE
NAIROBI, Kenya, Dec 4 – Deacons East Africa has appointed Judith Kibaki as a director of the company with immediate effect.
The move follows the resignation of Betty Mwangi as a director of the company.
Judith Kibaki joins the firm at a challenging business environment in the retail sector.
Other directors of the company include Peter Njoka(Chairman), Muchiri Wahome (CEO), Diana Bird, James Israel Olubayi, and Christine Michira.
The company posted a 244 percent increase in losses in the first six months of 2017 to Sh180 million compared to Sh52 million loss in the first half of 2016.
Management attributed the losses to the drought that led to the reduction in disposable income coupled with lack of consumer credit due to the interest rates capping.
The firm also blamed the reduction of footfall into malls by 60 percent due to the non-performance of major supermarket anchor tenants.
Deacon’s fashion brands include 4u2, Angelo, Truworths, Babyshop, Bossini, and F&F.
