BY VICTOR ADAR As business environment gets tough and technology introduces new dimensions, a majority of organizations are now wading into creative ways of financing to ensure that they remain afloat. Scale up funds is one of the options that some experts say might cut the main market challenges especially for start- ups. Business environment is open but for a few, being a winner in this game calls for a calculated approach. In the battle of the sharks, the terrain often turns unfavourable to millions of young disabled innovators who generally end up languishing in unemployment due to lack of…
Author: Nairobi Business Monthly Reporter
Even though in recent years Kenya has lost its grip on the title of king of East Africa, the country has continued to retain her position as the most advanced financial market in the East African region. According to the Absa Africa Financial Markets Index 2019, Kenya has retained the same overall ranking of 3rd out of 20 economies as it did in the previous year. Kenya was able to garner a score of 65, with only South Africa and Mauritius above it, with 88 and 75 respectively, leading in the East African region, followed by Tanzania, Rwanda, Uganda and…
Tourism and Wildlife Cabinet Secretary, Najib Balala, has picked Jacinta Mbithi Nzioka as the National Convention Bureau’s acting national co-ordinator to spearhead the push for more global conferences. Established in September, the bureau is expected to enable Kenya to compete with Rwanda, a country that has in recent times successfully used its entity to win major conferences. Besides, it will help the country tighten its grip on Meetings, Incentives, Conferences and Exhibitions (MICE). The director of marketing at the Kenya Tourism Board (KTB) has over 15 years of experience in the tourism field, and has led several initiatives and projects…
Moi University in partnership with jp.ik, a Portuguese Information and Communication Technologies company have unveiled a range of information and communication technology (ICT) devices targeting students, SMEs, government institutions and enterprises at the university’s technologies Digital Assembly Plant. The plant, which is based at the Rivatex East Africa Limited in Eldoret town, was recently inaugurated following a joint venture between Moi University and jp.ik where they injected $5 million (Sh500 million). The devices, which were assembled at the plant and are branded under the University’s initials; MU, include desktop computers, laptops, servers, workstations and Next Unit of Computing (NUCs). According…
A total of 580 youth have benefitted from construction starter toolkits from a partnership between KCB Foundation and GIZ’s E4D/SOGA – Employment and Skills for Eastern Africa Programme after undergoing a skills training programme. The toolkits valued at Sh20 million will enable them to start their individual and group-based microenterprises in the building and construction sectors. The tools are trade-specific for roofing, masonry, tile laying, carpentry, plumbing and pipe-fitting, welding and fabrication and electrical installation. Speaking at an event in October where the last batch of 250 youth were presented with the toolkits, KCB Foundation managing director Ms Jane Mwangi said the partnership…
The Nairobi Securities Exchange Limited (NSE) has signed a Memorandum of Understanding with Shenzhen Stock Exchange (SZSE) that will link Kenya’s market to Chinese investors and vice versa. SZSE is one of two stock exchanges operating independently in the People’s Republic of China, the other being the larger Shanghai Stock Exchange. The two bourses launched a joint investor forum that is known as the China-Kenya Capital Market Service Initiative that will see Micro, Small and Medium Enterprises (MSMEs) in Kenya attract more investors. The signed MoU is in line with NSE’s vision to be the leading securities exchange in Africa…
It was a night of celebration as the Anzisha Prize, in partnership with the African Leadership Academy (ALA) and Mastercard Foundation, awarded $25 000 to 21-year-old Yannick Kimanuka from the Democratic Republic of Congo and crowned her the winner of the 2019 Anzisha Prize. The KIM’s School Complex, founded by Yannick in 2018, is a nursery and primary school, which aims to improve how children perform academically in her community. “I am so happy. I cannot believe this. Thank you to the Anzisha team and my fellow finalists. Tonight, I am not only filled with joy but I am filled…
Leading beer and spirits company, Serengeti Breweries Limited (SBL), has unveiled a new look corporate identity that represents the company’s transformative journey since its inception in 1996. “The new SBL logo stands for, ‘Quality, Craftsmanship, Professionalism, Dynamism, Modern, Optimism, Friendly, Warm, Open, Self-Confident but not Arrogant. It also shows we work with natural ingredients,” SBL managing director, Mark Ocitti told a gathering of stakeholders at an event held late October in Dar Salaam to launch the new corporate identity. The new logo, added the MD, underpins the brewer’s unique identity and the strides the company has made over the years…
With cancer cases on the rise, ICEA Lion Group has introduced a cancer insurance cover to help with the hefty medical bills that many people have to deal with when undergoing treatment. The insurance will cover those aged between 18 and 59 years who have not had cancer one year prior to taking the cover. According to George Nyakundi, business development and technical services general manager, the product will cater for the financial needs of patients from diagnosis, treatment, surgery to palliative care and relapse. “Cancer management and treatment can be very expensive, averaging Sh2.5 million. We have designed a…
GE (NYSE: GE) and Africa’s leading cement producer Dangote Cement have signed an agreement to deploy GE’s Asset Performance Management (APM) digital solution to reduce unplanned downtime and enhance performance at its two cement plants in Obajana and Ibese, Nigeria. The project includes extending the current service agreement for an additional 50,000 operating hours for the seven GE LM6000PC aeroderivative gas turbines installed at the sites. GE’s total plant solutions will improve efficiency, reliability essential to continuous operations and the plants’ business strategy. “Power supply is both a key input and a major cost in our manufacturing process,” said Ravi Sood,…