By Joy Kyalo
Radisson Blu has shut down it’s Nairobi’s Upper Hill due to Covid-19 pandemic.
The hotel has sent most of its staff home as bookings at the hotel have remained low due to the Covid-19 pandemic for some months now.
The hotel has confirmed the development of the decision to send employees home was aimed at mitigating the economic impact of Covid-19 on the business.
“To mitigate some of the economic impact of the pandemic, coupled with the uncertainty of Radisson Blu Hotel Nairobi Upper Hill’s reopening date, we have had to make the difficult decision to reduce the size of our workforce at the hotel,” said the spokesperson.
The hotel has said that it will provide support for those affected throughout the process.
Every sector has been ravaged by Covid-19 key sectors being hotels, eateries, airlines, education, traders, importers and hospitals.
The hospitality industry mainly through hotel closures and booking cancelations.
KCB said that they have restructured Ksh.4.9 billion ($955) million worth of loans over the difficult macroeconomic activity. What will happen with the second big wave?
However, KCB results include a focus of the deteriorating environment heading to the end of the year.
According to KCB, the credit quality is reasonable and the 15.2 per cent increase in NPLs is based on the difficulties in the market mainly driven by Covid-19 and a difficult macroeconomic driver.
They don’t anticipate more loan restructuring but a number of these loans could still be extended by another six months up to March of 2021.