Author: Editor

By Victor Adar When Anthony Maina was in Kenya Institute of Management, supply of electrical and general products was not the next up for him. Although he cut his teeth as a manager, his success story shows that entrepreneurship is inevitable. Having seen a niche in supply of electrical, painting works, hardware and plumbing materials, Mr Maina believes that dreams can come true when you know what you are doing. The 29 year old graduate of management who now specialises in electrical control didn’t know how things would change that he would today be apart of many enterprising Kenyans forming…

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BY CHRIPINE AGUKO Imelda Akinyi, 24, has strongly ventured into poultry farming majoring on broilers in the Western border of Kenya and Uganda. After successfully completing her degree in community development from Egerton University, Imelda decided to start the business in 2015 with a capital of Sh50, 000 for construction and a start up number of 50 chicks at Sh100 each, and the feeds. Hardly two years on, she has developed the business to an average of 400 broilers. This is daring given Uganda was hit by a severe bird flu in January and Busia being a border town with…

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BY CHRISPINE AGUKO Cytonn investment is starting a 15 billion comprehensive lifestyle community development in Ruiru. The project is to be done in three faces with the first face beginning this year, and expected to be complete in a record of six years. In the project, Cytonn has partnered with Taaleri, a Finnish architectural firm in seeing the construction of the 1400 houses complete in the record time. While signing the contract, the Finnish Ambassador to Kenya, H.E Ambassador Tarja Fernandez said that partnership is a win-win situation and as cytonn will benefit, Kenya and Finland will also benefit. AUD…

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By Kosta Kioleoglou One of the biggest challenges to sustaining growth in Kenya is accelerating productivity—yet it also presents opportunities. Changing demographics Age has been the world’s growth driver, the growth champion. For the past 50 years, most countries in Asia and Africa have grown faster than their North American and Western European counterparts. China is only the most noteworthy; growing more than 7% a year, but it’s by no means alone. Emerging countries, including Kenya, Tanzania, Korea, Indonesia, and India, amongst others are all growing with more than 5% per annum. All these countries have been growing faster than the…

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Wealth preservation and capital growth are the two most important factors that high-net-worth Kenyans are considering when making wealth management and investment decisions, according to the Attitudes Survey in the Knight Frank Wealth Report 2017. The two factors are deemed most important as uncertainties linger on the global and local economies, with 74% of the survey’s respondents saying their clients are prioritising wealth preservation, while 68% stated that capital growth is the next most important consideration for Kenya’s super-rich. The Attitudes Survey, based on responses from almost 900 of the world’s leading private bankers and wealth advisors, established that portfolio…

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Digital money transfer service WorldRemit and KCB, have partnered to create a new instant option to send remittances to Kenya. Announced at an investment event for Kenyan and African Diaspora at the Royal Overseas League in London, the partnership aims to support the growing demand for instant, digital remittances among more than 3 million Kenyans currently living abroad. Kenyans living around the world can now make secure, instant money transfers to be collected at KCB branches across the country. Later stages of the partnership will enable instant international transfers to KCB bank accounts, a further move towards full digitisation of the Kenyan economy,…

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“With the value of pension fund assets growing five-fold in the last 10 years to over Sh900 billion, and the average pension fund value – per scheme – shifting from under Sh100 million to about Sh500 million; the issue of remunerating the individuals responsible for safeguarding the growing funds becomes critical.” BY VICTOR ADAR As always the case, pension trustees are responsible for ensuring that pension schemes are run properly and that members’ benefits are secure. But while there is an industry guideline for remunerating board members for their oversight, Kenya seemingly lacks a similar guideline for pension scheme trustees…

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BY ANTONY MUTUNGA Last month the Central Bank of the largest economy in the world decided to hike its benchmark rate for the third time since the global financial crisis. The hike came just three months after its previous raise that was in December 2016. This highlighted the end of the easy monetary policies that the rest of the world was accustomed to having. The Federal Reserve raised its benchmark rate in order to tighten its country’s monetary policies because the economy of the U.S was in a strong position. However even though this would help the U.S, it would…

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BY NBM WRITER The automotive industry in Kenya is an interesting one. In 1986, President Daniel Moi tasked the University of Nairobi under the Nyayo Pioneer Car to develop Kenya’s first ever car. Later, five prototypes were brought forward and named The Pioneer Nyayo Cars, which had a speed of 120Km per hour. Nyayo Motor Corporation was then tasked with their mass production yet lack of funds stopped this project. Years later as history would judge, this turned out just another white elephant that characterised the Moi regime. Subsequently, the Nyayo Motor Corporation was renamed Numerical Machinery Complex that was…

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BY DAVID ONJILI “If an African Man cannot even provide a basic meal of ugali and chicken on Christmas day for his family, then what is the worth of working?” Joseph Onyango, a piece rate motor vehicle assembler posed to the management of Kenya Vehicle Manufacturers (KVM) in Thika when the management had ruled that the entire working force made up of permanent and piece rate employees at the plant had to break for the December Festivities on 8 and resume on January 15 the following year without any pay. With house rent and other personal utilities to be settled…

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