The Bank continues to invest heavily in social and digital platforms in a bid to reach out to its targeted audience and meet business objectives in different locations given its presence in six African countries and a wide network of branches.
The Group unveiled the the development in a news dispatch from Washington, distributed by the African Press Organization. With support from prominent African investment groups, XL Africa will help the 20 selected start-ups attract early stage capital between $250,000 and $1.5 million.
The MD said that in order to expand testing capability in the country KEBS is in the process of establishing more laboratories in Kisumu, Eldoret and Kisumu. He noted that the move will reduce cost for traders who at the moment have to travel to Nairobi to have their products tested.
To participate in the promotion, customers will be required to dial *444# from their Safaricom line to view daily offers. They can decide which bundle best suits them. Once they purchase their preferred offers, their airtime will be deducted from their airtime.
The report, which focuses on multinationals looking at entering, or already present, in Middle East and Africa, indicates that there was a 17 percent increase in the number of Fortune 500 companies in MEA in 2016 compared to 2015, with Johannesburg being the leading destination for Africa.
Econet Media CEO Joseph Hundah said, "We are seeing increasing integration across our related industries in telecommunications and media. Through our partnership we will be able to leverage our collective strengths to give customers a world-class video service through the fastest network in Kenya.”
Speaking on today’s launch, SoMA Director Martin Muli said the influential Awards will focus on celebrating achievements that have been realized in the digital space since 2013 while creating awareness on responsible use of social media ahead of the August General Elections.
The new online booking tool is a one stop shop for travelers, offering seamless access to services such as flight bookings and information, access to accommodation options and booking, insurance among other services.
“Today’s woman wants a deodorant that will fully protect them while at the same time caring for their underarm skin,'' said Beiersdorf Marketing Director for Central, East and West Africa, Francis Afulani.
Facebook executives Carolyn Everson, VP Global Marketing Solutions and Nicola Mendelsohn, VP EMEA, attended the launch of the new office together with Ntshingila, the firm saisd in a press news item dispatched by the African Press Organization (APO).
The Big Bolero Pick Up is a 9 foot cargo body vehicle retailing at Sh1.95 million per unit is also available on a pay-as-you-use arrangement, which Kotecha described as a flexible leasing solution.
“We need to embrace energy efficiency as a nation in order to save on energy costs and achieve vision 2030. As a ministry, we have invested about Sh360 million in energy management. We are doing almost 50 percent of our energy from geothermal sources and about 40 percent from hydro sources,” said En
The budget also proposed other tax measures aimed at growing local industry and enhancing our competitiveness. To cushion the local manufacturers of pesticides input, the government proposed to exempt these products from VAT, and to include 16 percent tax on all pest control imported products.
The Safaricom Two Rivers Retail Shop will cater for clients of Two Rivers Mall as well as the catchment areas of Ruaka, Redhill, Kabuku, and Limuru reducing the very heavy footfall experienced in Village Market Shop which will remain operational.
In an announcement that came on the same day that CBK extended the appointment of the KDIC as the receiver manager for Chase Bank (IR), the regulator invited interested investors to present an initial Expression of Interest (EOI) to take an equity interest in Chase Bank (IR).
“The improved financial performance has mainly been driven by action plans set by management to grow the business in all segments, effective management of working capital requirements, costs, cash, and investments in safety and profitable business ventures,” said CEO Anne-Solange Renouard.
"KAM has played a key role in steering this course to ensure that industries and domestic users take up energy efficiency measures. That will ensure we achieve our sustainability goals. To this effect, the Government has channeled Sh360m towards energy conservation and efficiency," the PS said.
Equity CEO James Mwangi said, "With this facility we will be in a position to support up to 1000 regional companies with an average loan of nearly Sh10 million each thus assisting develop local entrepreneurs to compete at regional level furthering integration and cross border trade."
''Inward remittances reached a record value of just under $161m in November 2016, according to the Central Bank of Kenya, making it one of the nation’s top earners'', says the report, released to mark the the 10th anniversary of M-PESA, the biggest mobile money service in Kenya.
Speaking during the release of the group’s full year financial results for 2016, Britam Group Managing Director Dr Benson Wairegi said that the Group had unveiled a new strategy that will help propel the company to the next phase of growth.
This followed agreement between the shareholders, Kenya Deposit Insurance Corporation (KDIC) and Central Bank of Kenya (CBK), that it was necessary for the KDIC to be accorded more time to resolve the receivership.
"We welcome the idea of the government stepping in as a regulator; it will be a win-win situation for all of us. The challenge for suppliers has been in trying to understand why there are cash flow issues, whereas goods in the supermarket are bought in cash", he said.
StartTimes, who have operated in Kenya for five years, said StarTimes Digital TV is also designed to save upto 50 percent power, allowing subscribers to enjoy better viewing experience with less living costs.
"The entry of these banks on the fulfillment of all the pre-licensing conditions will expand the range of banks’ business models and underscore Kenya’s growing stature as a regional financial services hub," CBK said.
The record-breaking mixed use development will include Grade A offices, a 5-star Hilton hotel, plus a luxury retail and entertainment complex. Standing over 300 metres high with 67 storeys, the tallest tower is designed to represent the height of African achievement.
The second phase will involve the development of a log yard, a saw mill, workshops and fuel stations, a timber processing industry and warehouses. This will be geared towards processing timber bought from households engaged in Melia Volkensii plantations.
“The hydro-power plant and its associate external components like the dam, Thika River and the water falls, which will form the basic display areas, will be preserved with minimal changes so as to present them in the most authentic manner,” said Dr. Kibunjia.
“Our strategy is to continuously provide customers with more of their favorite content. The new team will play major a role as part of the wider team in delivering the experience our customers deserve, and we are determined to put this at the center of our internal culture and values,” said Isaboke.
The millions of small-scale farmers in Africa who grow potatoes to provide themselves with sustenance buy their seed potatoes on the local market. The average yield per hectare ranges from 5 tonnes of potatoes per hectare in Uganda to 15 tonnes in Kenya.
The project to be funded by the Japanese International Cooperation Agency (JICA) to a tune of Sh40 billion will inject an additional 158MW to the national grid. It involves construction of two geothermal power units of 79MW each.
He was quick to take note of the fact that most Kenyan mango-growing farmers did not have the capacity to grow the fruit in large quantities for export. "We are ready to help the farmers through improving capacity, value addition, transfer of technology and opening up of the Chinese market.
SUNREF East Africa includes a provision for green credit lines provided to local banks in the three countries i.e. Kenya, Uganda and Tanzania of more than Eur 35 million. BOA-T is the first bank to sign for a USD11 million credit line dedicated to energy efficiency and renewable energy sector.
Equity Bank Tanzania currently has 14 branches in operation, spread in Dar es Salam (Quality Center, Kariakoo, Golden Jubilee, Supreme, Mwenge, Temeke and Mbagala), Arusha, Mwanza, Dodoma, Moshi, Mbeya, Diaspora and Zanzibar.
"We have held regular engagements with our industrial customers under KAM in all regions across the country which has resulted into efficient utilization of power by industry thus enhancing energy security in addition to reduced complaints from our industrial customers,” said Kenya Power MD Ken Taru
Seeing that the SGR will average a speed of 120km/h, this translates to approximately 4.5hrs from Nairobi to Mombasa. This is quite commendable considering the trip currently takes almost 8hrs by road.
While there is a big number of using mobile platforms to move money through bank accounts, most users of the services reside in remote villages and have no bank accounts.
CBK Governor Patrick Njoroge said of the award: "In the redesign, CBK took into account the fact that the website is a key channel through which the institution seeks to provide diverse audiences with timely and accurate information on its mandate and policy actions.
In technology, the two countries hope to share innovations, especially around the ease of doing business and money transfer. “Kenya is known for its tea and coffee, but it was fascinating to learn that the transfer of money in Kenya is much easier compared to Europe,” said Mr Kiska.
"Meeting like this ensure that we are aligned as a system, operating in unison to achieve a shared goal, allowing us to build both capacity and capability of the business and of our people," Mr Balogun said.
“It’s absolutely stunning to look at with some striking features that are further enhanced by the awesome LED daytime running lights. Drivers will be hard pressed to get a better deal on a mid-sized SUV," he said.
Longhorn’s digital offering compliments the Sh17bn Government Digital Literacy Programme which aims to deliver 1.2 million tablets and laptops in 23,000 public primary schools.
A 2014 study by salary explorer found that an average salary in Kenya was Sh147,182, making it difficult for such individuals to set aside 30 percent of their earnings to comfortably service an average mortgage of Sh7.5 million.
On elections Ms Mutahi said, “Elections are supposed to be a process and not a deterrent to our current democratic progress. Hence as the business community, we would like to see a show of leadership from both the opposition and current government in guiding a peaceful and transparent transition.”
The bank will close at least eight of its 24 branches in Nairobi and double that number out of the capital. According to a senior official who spoke to us on condition of anonymity, the bank will fire at least 300 employees in February.
“The booklet will serve as reference material for those dealing with commercial cases. It includes best practices in handling commercial disputes such illicit trade, customs, standards and intellectual properties,” said the Chief Justice.
CBK says the proposed acquisition will mark the entry of SBM Group into Kenya’s banking sector and enable the established group to bring its experience and expertise from Mauritius and other markets, to enhance competitiveness and the resilience of Kenya’s banking sector.
Autoxloo plans to extend their product promotion to the local markets of Johannesburg, Durban, Capetownand Port Elizabeth. Autoxloo welcomes resellers, agents and partnerships with active entities serving the automotive dealers in South Africa.
Locally, Cognizant is working with KCB and Faulu Bank to assist with their core banking system transformation initiative. These institutions must pay close attention to this development in order to be prepared to ward off any negative consequences to them that may arise due to fallout of the probe.
In comments to the international NGO Tax Justice Network, anti-corruption campaigner John Githongo has said that the proposed centre "would be like a financial crime aircraft carrier, self-contained and able to cause considerable damage”.
In both Kenya and Uganda, about 95 percent of cargo freight is transported by track. But experts say it would be more efficient to transport large amounts of heavy freights, such as coal and construction material over long distance by railway, and oil products by pipeline.
"Safaricom remains focused on offering the best customer experience with products and services that differentiate us from competition. The expansion of our services to the regions is aimed at engaging our customers from grassroots, which then helps us address issues faster," said Mr Collymore.
“The Partnership between Goraceit Technologies Ltd and Autoxloo brings a significant value addition to digital marketing services for Auto dealers in East Africa”, said the Lead Consultant at Goraceit Technologies Ltd., Mr Allan Wafula.
The bank is also organizing five Regional Ministerial Conferences on youth employment and entrepreneurship between now and 2017 and before the year ends three conferences will be held in West Africa, East Africa and North Africa.
Mr Mugo added that the new geothermal capacity of 280MW recently commissioned had improved the national installed capacity and enhanced overall system reliability, besides increasing the company’s revenues by 29% from Sh29.96 billion in 2015 to the current level of Sh38.61 billion.
“It is almost seven years now and we have seen tremendous growth in the market. This has been as a result of us strengthening our activities in Kenya and promoting more market oriented products,” he said at the event.
Speaking at the launch today, Mr Muralidhar said the company has strengthened its relationship with Kenyan dealers and last year signed a service partnership with Sight and Sound Limited, which will provide after-sale services for customers with Pioneer Warranty Cards.
Earnings per share rose to Sh3.20 during the period compared to Sh2.98 in 2015, while the company’s loans and advances to customers increased to Sh53.9 billion up from Sh51.7 billion over the same period last year. Customer deposits grew to Sh41.6 billion compared to Sh37.6 billion in 2015.
This year alone through project financing ICDC has created approximately 2,300 direct and indirect jobs in the manufacturing and agro-processing sectors.
He said, “It is our firm belief that the current focus on environmentally friendly technologies to generate energy for industrial and domestic use will improve its affordability and also increase energy security by reducing reliance on oil-based sources”.
The award was as a result of the Authority’s implementation of the complex Digital Literacy Programme’s nationwide launches that saw all cabinet secretaries and principal secretaries traverse the 47 counties in remote schools to deliver digital learning devices through its PR and marketing agency PM
Participants not only stand a chance to win great prizes within their respective countries but overall winners will be rewarded with a trip of a lifetime for the overall winning essay – a trip with his/her parent/legal guardian to Eutelsat in Paris, France and onwards to a spaceport to attend a live
KAM has positioned itself to play a critical role in engaging government towards the realization of industrialization in Kenya by supporting the growth of SMEs, creating jobs, enhancing competitiveness of the manufacturing sector through promotion of local industries and ensuring a level playing fie
It was alleged that the management had siphoned Sh34 billion in the fraud scheme within a period of 13 years as Janmohamed and associates had manipulated the bank’s software to hide the irregular transactions.
Kabaddi has got very many variations. However, in the international team version, two teams of seven members each occupy opposite halves of a field of 10 by 13 metres (33ft x 43ft) in the case of men and 8 by 12 metres (26ft x 39ft) in the case of women.
The company which serves about 25,000 cane farmers has been experiencing lean times with a section of farmers calling on President Uhuru Kenyatta to disband the current Board of Management.
“I was over joyed and immediately called my wife to share the good news. Although I have always desired to have a newer car, I never imagined that I could be the owner of a brand new car this soon. I intend to keep it as an asset that will not only ease my movement, but also help grow my business”,
The CEO attributed the decline to low incomes. “We have also lost a lot of subscribers in the last year in sub-Saharan Africa, people have just not been able to afford it,” he said.
Some of the products that National Bank has launched under this unit are the Jenga Chama, Jenga Kilimo and Jenga Biashara plus loan accounts to fast-track its Small Enterprise banking outreach campaign.
During the two weeks spent in China, the students will study and gain work experience as well as enable them gain exposure to Chinese culture and cross-cultural work experience in a globalized business environment,” said Mr Yu.
Whether listening to music or simply making a phone call, these platforms provide seamless smart phone integration to meet different customer requirements and enhance the driving experience.
Nairobi property prices increased by 1.2 percent in the third quarter, according to Sakina Hassanali, the HassConsult head of research and marketing, which was a slower increase than the 4 percent that was posted in the second quarter.
Other HFDI projects include Komorock 5A and Komarock 5B (maisonettes), Komarock Heights (apartments), Richland (apartments) along Kamiti Road, Precious Gardens (apartments) in Riruta and K Mall.
Samsung Electronics has once more been named amongst the world’s Top Ten brands and the only mobile, TV and home appliances manufacturer to make it to the list for 2016.
ShowMax features local favourites such as Real Househelps of Kawangware, Churchill Live, Auntie Boss, and Kona, as well as popular series and movies from Hollywood like Mr Robot, Brooklyn Nine-Nine, Blue Bloods, and The Good Wife.
The resource is available at the address www.cmarcp.or.ke. It is interactive and allows visitors to give the Authority their feedback or ask questions.
“Kenya’s debt is something to watch. The country needs to slow down on spending and external borrowing,” Renaissance Sub-Saharan Africa Economist Yvonne Mhango said.
The platform will be used to sensitize the youth on job and entrepreneurship opportunities. More than 500 young people will be trained on a variety of services they can offer to businesses through the internet.
The joint venture with Chloride Exide is expected to help Mobisol’s expansion since Mobisol is able to access the already established sales and distribution network of Chloride Exide. The joint strengthen existing supply partnership between Chloride Exide and Mobisol.
As part of this global move the Kantar Public Development Practice will be launched shortly in sub-Saharan Africa headquartered in Nairobi, continuing the company's work to bring about more effective development through locally based high quality and innovative evaluation and research.
Invoking the award that is won through a public vote also gives winners influence and respect and opportunity to up your rate card. Your influence is your currency. When your influence is validated amongst your peers by the community that you engage, then your brand endorsement rates have to resonat
The Energy Manager of the Year is among the 10 categories, and is presented to an individual for outstanding accomplishments in promoting the practices, principles of energy management and development, and for superior service to the Association
Kenya’s sugar consumption has increased by three per cent in the last one year, pushed up by population growth. Statistics from the sugar directorate indicate that consumption stood at 889,233 tonnes in 2015 from 860,084 tonnes the previous year.
The Organisation for Economic Co-operation and Development (OECD) estimates that EAC governments lose over $500 million in tax revenue annually due to the influx of counterfeit and pirated products.
Farmers in Kiambu and Thika will rake in Sh12 billion up from Sh8 billion, while those in region seven that covers Kitale and Nandi will earn Sh2.2 billion up from Sh1.3 in the previous year.
Meru, Garissa, Mandera, Marsabit, Samburu, and Tana River may in future rely on commuter links from the airport, which will also boost commerce in the region and ease export of meat and agricultural products.
The ISO 9001:2015 is the world’s most widely recognized standard for quality management systems whose latest revision was published in September last year.
Citing high production costs resulting from high energy costs, prohibitive and unchecked imports. Other companies that have relocated over the past 10 years include Colgate Palmolive, Unilever, Johnson & Johnson, Procter & Gamble and Reckitt & Benkiser.
After the 90 days expire, customers will have the option to retain the current bouquet for Sh399 or to upgrade to other packages available such Zuku Classic and Zuku Premium for Sh999 for 72 channels and Sh1399 for 99 channels respectively.
The Sh50 million lease agreement between Trans Mara Sugar Company and Quipbank Trust Limited and Tata Africa Holdings Limited was planned to reduce on post-harvest losses occasioned by delay in delivery of cane to factories.
Construction of the 132 kV substation will reduce the power outages as the station had double circuit lines which ensure uninterrupted power supply in the case of ongoing power repairs on some lines.
The signing of the Bill was only the first step in an expected bruising battle between the public and banks. While the law's implementation will start immediately, it will take at least a few months before the Central Bank comes up with regulations to govern the broad principles in the Act.
The future of oil and gas exploration and production in Kenya and the region is very promising. Recent oil and gas discoveries in Kenya and Uganda have made the East African region attractive for companies that offer drilling services.
“Even though it has been a difficult market for investors, Vuna membership and asset growth has been on the increase, a clear demonstration that this product we are offering is what the market needs”, Ms Okinda said.
The bank also reported an increase in the customer base from 9.7 million accounts to 10.7 million accounts during the year. Customer deposits in the Kenya grew by 10 per cent to Sh259 billion up from Sh236.4 billion.
Dr. Kidero acknowledged the issues presented by the BMOs stating that the issues raised today will make a lot difference in making Nairobi County a better investment destination.
“Mumias managers know well that they are harvesting in our zone and we won’t allow it. They are using goons and police officers to harass our farmers. If they continue with that trend we will also be forced to handle them as they come."
Mr Wandera said this was part of the Britam group’s overall strategy of expanding its general insurance business and widening its foot print in Tanzania, while tapping into the un-insured segments of population.
For example, measures on the cleanliness and pathogen-free status of food known as sanitary and phytosanitary measures cover more than 60 percent of agricultural trade.
The passage and effective implementation of the bill would address trading challenges between millers and farmers which are common in the cereal and wider agricultural sector.
Mr Andersen takes over from Yatich Kangungo who has been serving on an acting capacity as the MD from June 2015. This is after he took over from Lucy Mbugua was shown the door over an 11 million shilling bus leasing scam.
This collaboration is a power move by Simba Corporation that seeks to perch it top among suppliers of vehicle and spare parts.
The news has revealed the acute level of unemployment in Kenya even as official statistics indicate a high rate of job creation. The news generated buzz on social media, with many Kenyans expressing concern at the slow rate of creation of formal sector jobs.
The GSMA chief marketing officer, Michael O’Hara said during the conference, the CEOs and senior executives from leading mobile companies and from players across the digital ecosystem will address the most pressing mobile trends and issues.
Kenyans are heading to a harder economic times with every item being slapped with a tax which is a concern to everyone in the country and, according Mbadi, members of parliament are the ones to save this country.
Alexander Forbes Retirement Fund Board of Trustees chairperson Lucy Kambuni said the fund will continuously invest in projects that benefit members through innovation and real estate sector which has proved to be an asset class that has continuously posted positive returns over the long term.
The dramatic rise in formal retail space has helped attract new foreign investors in the sector. In mid-May Carrefour, the world’s second-largest retailer, opened its first outlet in Kenya, its first in sub-Saharan Africa.
UBA will provide an array of financial products tailored to KU’s unique needs such as collection accounts, tax payment management, various financing and investment opportunities for the University.
Speaking during the event, Nairobi Securities Exchange CEO Geoffrey Odundo congratulated KenGen for continuously using the capital markets to strengthen its capital base and fund its expansion strategy.
Digital number plates are not only trendy, but also crucial in ensuring security.
Nandi County Government has rolled out an electronic financial management system, the first in the counties
Energy and Petroleum Cabinet Secretary Charles Keter has lauded KenGen for championing employee-led innovations.
Ethiopian Prime Minister Hailemariam Desalegn, who is on a three-day state visit to Kenya, today visited Olkaria, the largest geothermal power plant in Africa.
The Taita Taveta County government has suspended the use of a computerized revenue collection system run by Strathmore University, blaming the system for reduction in tax earnings since the system was introduced in April 2015.
ICPAK vice chairman, Julius Mwatu, said an assessment of the expenditure priorities contained in the 2016/2017 budget estimates has attracted several questions around the expenditure planning for the country.
The PMG said that they have recently launched the Coastline Bus Service and have already acquired two buses of an expected total of thirty. Currently, they operate on the Busia route, while awaiting the other buses, for national rollout.
The Kenya Association of Manufacturers today hosted a site visit to Industrial Area
Kimani has resigned just eight months into the job, saying that while Uchumi was on the right track, it did not offer him an opportunity to grow and that he would be more challenged at Naivas.
Heritage Insurance Company Ltd has unveiled a campaign strategy that is geared towards entrenching the company’s brand in Kenyan and East African markets
After intense and ugly wars with American Uber app service provider, traditional taxi operators have now come up with their own app, called Taxify, which they expect to steal Uber’s thunder.
Kenya’s private sector remained in good health during May, as business conditions improved solidly as both output and new orders increased, according to the latest Purchasing Managers’ Index (PMI) data released by CfC Stanbic Bank.
Henry Rotich, the cabinet secretary for finance, will present today a Sh2.3 trillion budget for the 2016/2017 financial year.
Experts have called on the government to clarity inconsistent areas of Tax Procedure Act 2015 to make the law more efficient in raising awareness and compliance by taxpayers.
Michael Wambugu PKF Partner says Kenya’s public debt-to-GDP ratio is 41 per cent – which is by any standards still manageable.
Crown Paints has rolled out a range of Zero VOC paints as its strategy to increase its market share through innovative products that meet the ever increasing demand in the East African region.
The study says that Chinese aid may continue to play a bigger role over time because Kenya’s foreign aid flows are volatile. “The coefficient of variation of Kenya’s aid is 74.19 between 1960 and 2013 the coefficient of variation for Sub-Saharan Africa is 64.71 over the same period.
The brand is expected to step up competition for German car manufacturer Porsche, which reported strong sales of its sporty models since launching operations last year.
The Nairobi Securities Exchange (NSE) has recommitted itself to embrace, support and enact a set of core values in areas of human rights, labour standards, environment and anti-corruption after joining the world corporate sustainability initiatives.
ShowMax, the internet TV service launched in August 2015, has expanded its footprint to 36 additional countries across sub-Saharan Africa.
The online taxi company Uber has partnered with Sidian Bank in a Sh10 billion programme that will give drivers, fleet partners and business investors’ the chance to access high quality vehicles they need to start or grow their Uber-based businesses.
The Co-operative Bank of Kenya plans to enter into Rwanda, Ethiopia and Tanzania through the same model it used to South Sudan.
Greenpark estate comprises of five house types for sale; the Quarter Villas, Semi - detached Maisonettes, Bungalows, Super Bungalows and Villas with prices ranging from Sh9.5m to Sh36.7m.
In a bid to rev up road construction and cut costs, the Trans Nzoia county government has purchased construction and maintenance equipment worth over Sh500 million.
Mombasa is set to become the 151st destination for the Emirates Airlines after governor Hassan Joho met with the company’s senior officials in Dubai
The Central Bank of Kenya (CBK) has lauded Interswitch team for adopting fraud management tools that are of the highest standards for the payment cards industry.
Kenya created 841,600 jobs in 2015, according to the Economic Survey just released. Of these, only 128,000 jobs, or 15 percent, were in the modern sector.
CBK Governor Dr Patrick Njoroge said the drivers of growth will on macroeconomic stability, stronger agriculture performance, public infrastructure investment and tourism recovery.
According to Insurance Regulatory Authority (IRA), medical insurance and workmen’s compensations statistics rose phenomenally from 2014 compared to 2015 in the two areas.