Connect with us

Hi, what are you looking for?

Capital Business
Capital Business


Major Organization expected at Tourism Fund after exit of top officials, including CEO

NAIROBI, Kenya, Jul 2 – A major reorganization is expected at the Tourism Fund, following the resignation of two leading officials.

This is after the state corporation’s Chief Executive Joseph Cherutoi and the Director of Corporate Services Eric Kiplagat tendered their resignation letters and gave a 3 months’ notice set to lapse end of September.

In a letter to the board of trustees and members of staff, the Fund’s Chair Alfonse Kioko said a meeting scheduled for today will give a way forward.

“On 26th June 2020, we received a resignation letter from the Chief Executive Officer Mr. Joseph Cherutoi, giving three months’ notice. Further, we received a letter of resignation from the Director of Corporate Services Mr Eric Kiplagat,” Kioko said.

Kioko is expected to announce the Fund’s acting Chief Executive Officer, pending substantive appointment.

“This is a major change in our organization and we request all staff to continue with their normal duties so that the performance is not affected in any way. I will issue a more comprehensive update on July 2 2020,” Kioko said.

Cherutoi joined the Fund in 2014 as the Head of Finance, before being named acting CEO.

The Fund was established under Tourism Act, 2011 and was mandated to mobilize resources to finance the development of the tourism industry in Kenya.

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...