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4:14 PM Wednesday, September 18, 2019

business

Equity’s digital platform records 79pc growth

The platform recorded a growth of 58 percent in transaction value from Sh123.6 billion in the first half of 2018 to Sh195.6 billion for the half-year ended June 2019/FILE NAIROBI, Kenya, Sept 18 – The number of transactions conducted through EazzyBiz platform grew by 79 percent from 800,000 to...

Ministry of Culture, Heritage endorses Koroga Festival set for this weekend at Two Rivers Mall

Cabinet Secretary Amina Mohammed said the festival is very important as it promotes culture and helps grow talents as well as reflect Kenya’s brilliant and diverse creativity/CFM NAIROBI, Kenya, Sep 18-Koroga Festival has officially been endorsed by the Ministry of Culture and Heritage, following its role in tapping and...

Andela to lay off 170 Junior Developers in Kenya

The transition will also affect an additional 250 contracted junior developers in Nigeria and Uganda under the developer mentorship program/COURTESY NAIROBI, Kenya, Sep 18- Software firm Andela is set to lay off 170 junior developers in Kenya over increased demand for more experienced talent. The transition will also affect...

Households using small-scale power have a higher quality of life – Report

Off-grid solar is also enabling a third of households to be more economically active, extending business opening hours, giving customers more time for economic activity and helping rural East Africans start new business activities/FILE NAIROBI, Kenya, Sept 18 – Households using small scale-solar power in East Africa have been...

African CEOs confident about revenue growth, PwC

African CEOs identified operational efficiencies at 80 percent, organic growth at 76 percent and the launch of a new products and services at 58 percent as their primary drivers of revenue growth//FILE NAIROBI, Kenya, Sept 18 – According to the Africa Business Agenda report, a large proportion of African...

Air Transport supports more than 400,000 jobs in Kenya – IATA

Spending by foreign tourists supports a further US $1.6 billion of the country’s GDP, totaling to US $3.2 billion or Sh332.5 billion/FILE NAIROBI, Kenya, Sept 18 – A total of 410,000 jobs are supported by the air transport sector in Kenya and tourists arriving by air, a report by...

Telcos face pressure to reduce data price – report

Statistically, 42 percent of respondents of the 2019 Global Consumer Survey say they would change their current mobile operator in the future due to price of data/FILEMOB NAIROBI, Kenya, Sept 17 – Mobile operators are likely to face pressure to reduce the price of data to remain price competitive....

Kenya Power Set to Implement Energy Loss Reduction Programme

The Company says it has developed a strategic medium-term Loss Reduction Initiative Programme, geared at lowering technical and commercial losses in transmission of electricity, from 21 percent to less than 15 percent in line with global operating benchmarks/FILE NAIROBI, Kenya, Sept 17 – Kenya Power has confirmed ongoing initiatives...

Okoa Stima is Kenya’s most expensive mobile loans

This according to a report by Kenya Bankers Association study that reveals that ‘Okoa Stima’, an app that allows users to borrow electricity and pay later attracts up to 43. 4 percent interest rate/FILE. NAIROBI, Kenya, Sep 17- Buying electricity tokens on credit has been revealed to be the most expensive...

Nairobi paid Sh652mn in excess of medical schemes contract in FY16/17 – Report

Although the total payment made so far to AAR insurance Kenya Limited is Sh1.7 billion, no explanation has been given for paying Sh652,786,602 in excess of the contract sum of Sh1.07 billion/file NAIROBI, Kenya, Sept 17 – The Sh1.7 billion AAR insurance cover for Nairobi County employees has once...

Safaricom retrains 60 staff to bridge talent shortage in digital technologies

. An industry first, the initiative is also helping the company bridge a shortage of talent as it seeks to bridge a customer shift to increasingly digital lifestyles/FILE NAIROBI, Kenya, Sept 17 – Safaricom has unveiled a program that will empower and train employees who are looking to shift...

Nairobi has not issued construction permits in 2 months – AAK, KPDA

The delays are also hurting the Kenyan economy/FILE NAIROBI, Kenya, Sept 16 – Nairobi City County has not processed any construction permit for the last two months due to downtime issue on the electronic permitting systems, adversely affecting projects in the building and construction sector. According to the Architectural...

How Amitruck hailing app is connecting traders to transporters

Amitruck, connects traders to over 500 registered transport service providers who move their goods to different locations/FILE NAIROBI, Kenya, SEPT 16 – In January 2019, two brothers came together to start a vehicle hailing company that connects traders to trucks, pick-ups and motorcycles to deliver their goods. The...

Equity Joins 160 Other Financial Institutions to Promote SME Finance

Entrance into the forum is part of the group’s vision of becoming the champion of the socio-economic prosperity of the people of Africa/FILE NAIROBI, Kenya, Sept 16 – Equity Bank is the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies,...

Kenyans are addicted to smartphones – Survey

77 percent of respondents believe they use their mobile phones too much while 55 percent believe their partners use their phones excessively/COURTESY NAIROBI, Kenya, Sept 16 – Move over substances, Kenyans have a new source of addiction, and its name is ‘Smartphone’.  A survey by Deloitte describes smartphone use...

Price of petrol up by Sh0.28; diesel by Sh2.44 as Kerosene drops by Sh3.31

Petrol and diesel price per litre up by Sh0.28 and Sh2.44 respectively as Kerosene decreases by Sh3.31 in EPRA review/FILE NAIROBI, Kenya, Sept 14 – The price of diesel has gone up by Sh2.44 in Nairobi and to retail at Sh103.04 per litre, in the latest Energy & Petroleum...

Tourism CS Balala elected to chair global UNWTO Executive Council

Balala said he will push for the development of a Tourism Commission in the African Union/FILE ST. PETERSBURG, Russia, Sept 14 – Tourism Cabinet Secretary Najib Balala was elected to chair the United Nations World Tourism Organization (UNWTO) Executive Council, Friday. The elections took place during the UNWTO General...

Jumia signs 50 partners to launch Jumia mall

The company has partnered with over 50 brands to launch their Official Online Stores with Jumia Mall, allowing customers to shop from the official suppliers if they choose to/FILE NAIROBI, Kenya, Sept 13 – E-commerce platform, Jumia, has introduced a new service to customers dubbed ‘Jumia Mall’. According to...

Luminate invests $1m in Kenya media lab to support press independence

Ory Okolloh, Luminate’s Managing Director in Africa. /COURTESY. NAIROBI, Kenya Sep 13 – The dedicated media space will be known as Baraza Media Lab and run in partnership with Mettā Nairobi, Kenya – 12 September 2019 – In recognition of the need for Kenyan media independence and sustainability, Luminate,...

Remind your mother, grandmother, to exchange old 1,000 notes – CBK

CBK has described Kenyan mothers and grandmothers as epic savers who may have some old notes in their homes and need to be reminded of the September 30 deadline for exchanging the older notes/CFMnew  NAIROBI, Kenya, Sept 13 – Central Bank of Kenya has urged Kenyans to check on...

Digital taxis given 14 days to come up with standardized fares

The dominant player, Uber, has also asked to review its contracts with Kenyan drivers/FILE NAIROBI, Kenya, Sept 12 – Digital taxi hailing companies have been given 14 days to come up with standardized fares applying to all apps.   Labour and Social Welfare committee led by Nairobi Senator Johnson...

Trademark pushes for women entrepreneurship in EA

This is against a finding by Global entrepreneurship monitor report 2016/17 indicating that East Africa has some of the highest numbers of women entrepreneurs in the world, although, their businesses fail in high numbers/FILE NAIROBI, Kenya, Sept 12 – Female entrepreneurs in East Africa experience low growth due to...

KRA seizes over 200 pieces of birds, butterfly trophies illegally shipped in from Tanzania for export

The restricted consignment was seized from a passenger who was suspected to have been illegally planning to export the shipment to Hungary and UK respectively/FILE NAIROBI, Kenya, Sept 12 – Customs Officials at the Lunga Lunga One-Stop Border Post (OSBP) have intercepted a consignment of 201 pieces of dried...

Hyundai sets shop in Somaliland stamping confidence in the country’s stability

The South Korean car manufacturer has partnered Dahabshiil group of companies to introduce its model in Somaliland. Photo/COURTESY. HARGEISA, Somaliland, Sep 12 – South Korean car manufacturer Hyundai is the latest multinational company to venture into the Horn of Africa via Somaliland. Hyundai launched its fleet of cars in...

Government fails to meet M-Akiba target in latest issue

M-Akiba was launched in 2017 and has raised Sh1.045 billion/FILE NAIROBI, Kenya, Sept 12 – The government has failed to meet its target in the latest M-Akiba Retail infrastructure bond issue, raising Sh263 million against an expectation of Sh500 million. This is the highest amount raised during the Primary...

Kenya topples giant African economies in digitization

In the last ten years, Kenya has advanced quickly as a digital contender, with many innovative enterprises; these include M-Pesa, Ushahidi, M-KOPA, M-TIBA, among others. /FILE NAIROBI, Kenya, Sept 12 – Kenya has seen the greatest amount of digital change over the past decade, ahead of South Africa, Egypt,...

Standard Chartered sets aside Sh20mn to support women in technology

The programme was launched in 2017 partnership with iLab Africa, a division of Strathmore University has seen the bank support over 20 women-owned small enterprises through mentorship and providing seed funding/FILE NAIROBI, Kenya, Sept 12 – The search for Women in Technology is Back. The call for application for...

KBL expands innovation pipeline with new Sikera Premium Apple Cider

KBL says innovations as one of the company’s key growth pillars contributing 22 per cent of East African Breweries Limited’s revenue in the financial year ending June 2019/Courtesy NAIROBI, Kenya, Sep 11 – Kenya Breweries Limited (KBL) has launched a new alcoholic beverage – Sikera Premium Apple Cider. The...

Internet Solution invests in Sh20mn Cyber Threat Intelligent Centre

Internet Solutions Managing Director Richard Hechle/Courtesy NAIROBI, Kenya, Sep 11 – Internet Solutions has introduced a Cyber Threat Intelligent Centre worth Sh20mn that will allow organizations to monitor, analyze and respond to evolving cyber threats happening every minute. The service cuts across is not limited to only financial institutions...

New CA boss puts stamp of Authority with new appointments

This comes after leadership disputes rocked the state agency following the exit of Francis Wangusi who was at the helm since 2012/CFM NAIROBI, Kenya, Sept 11 – The Communications Authority of Kenya (CA) has announced the changes in its senior management, barely three weeks after the appointment acting Director...
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Equity’s digital platform records 79pc growth

The platform recorded a growth of 58 percent in transaction value from Sh123.6 billion in the first half of 2018 to Sh195.6 billion for...

Teacher Peter Tabichi leads US Congress in prayer : The Standard

Global Teacher award winner Br Peter Tabichi graced the opening of the US Congress as a guest Chaplain, opening the session with a prayer...

Dispute over low dividends rocks conservancies in Narok

Land owners in support of management changes in two private conservancies in Narok West Sub-County have attributed a raging dispute between two...

Big blow to Dr EKURU AUKOT as Muranga MCAs reject his Punguza Mzigo Bill – Term it as a populist bill that will reduce...

Wednesday September 18, 2019 – Murang’a County Assembly has rejected the Punguza Mizigo Draft Bill 2019 that is being fronted by Thirdway Alliance Party...
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