Author: Nairobi Business Monthly Reporter

Introducing the Latest Issue of Nairobi Business Monthly! Uncover the Truth Behind Power Outages! In our feature article, “The Vendors of Blackouts,” we dissect the performance of Kenya Power and Ketraco. Despite their crucial roles in the energy sector, both have fallen short of expectations. Discover the reasons behind their failures and their impact on consumers like you. Get exclusive insights into: Kenya Power’s mandate vs. reality: Are they meeting your electricity needs? Ketraco’s transmission challenges: Why is seamless power delivery still a dream? The consequences of inefficiencies: How frequent blackouts are affecting businesses and households. Don’t miss this eye-opening…

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One of the richest Nigerian business leaders, billionaire Herbet Wigwe, was buried at the weekend after a helicopter that he and his family were flying in crashed in the California desert. Mr Wigwe, 57, who was the co-founder of Access Bank, one of the biggest lenders in Nigeria, was buried in his hometown, Isiokpo, in Rivers State on Sunday alongside his wife and son, who also perished in the crash. Two pilots and a former president of the Nigerian Stock Exchange died in the crash. The burial came after a week-long funeral rites that took place in the country’s commercial…

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The Governing Council of Kenya Bankers Association (KBA), the financial sector’s advocacy group and the umbrella body of banking institutions, has appointed Raimond Molenje its acting Chief Executive Officer (CEO) as Dr. Habil Olaka, who has served as the association’s chief executive since 2010, retires effective March 31, 2024. In a statement, the KBA Governing Council Chairman and NCBA Bank Group managing director Mr. John Gachora picked the association’s director, Legal, Human Resources and Policy Advocacy, Mr. Molenje, in an acting capacity effective April 1, 2024, to steer the association during the transition period before the appointment of a substantive…

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A master-planned real estate developer, Superior Homes, has launched a Sh14 billion gated community in Lukenya, Machakos County, in an effort to offer live, work, and play environment for those seeking a lifestyle away from the urban sprawl. Dubbed “Lukenya Plains”, the 172-acre development, which is 5 minutes drive from Greenpark Estate development and is the third master-planned gated community being undertaken by the same developer, is expected to be complete in 2027. Speaking during the launch, Superior Homes Kenya chief executive Shiv Arora reaffirmed the firm’s commitment to innovating, improving, and inspiring sustainable living in East Africa. “As a…

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Co-operative Bank of Kenya has been named as the overall winner of the Banking Industry Customer Satisfaction Survey conducted by the Kenya Bankers’ Association (KBA). The lender also topped in the Tier One Bank Category, marking the second consecutive win having also won the overall title for the year 2022. “Co-op Bank will continue to invest substantial resources in building the teams, the tools and the technologies to deliver a fulfilling customer experience across all our service channels,” Co-op Bank Group Managing Director and CEO, Dr Gideon Muriuki, said. The survey, started in 2018 by KBA to help enhance customer…

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East African Breweries PLC (EABL) has launched an exclusive members club under its brand, Johnnie Walker Blue Label, to catalyse connections that foster thought leadership across industries and boost innovation in the luxury space. Dubbed “The Blue Club”, the initiative will involve curated events and gatherings, where members will have the opportunity to engage with pioneers, industry captains, innovators, and thought leaders. Its members will also enjoy exclusive benefits enabled through unique partnerships designed around Johnnie Walker Blue Label and tailored to their interests. Speaking during the launch, EABL Group Managing Director (MD) and CEO, Jane Karuku, described it as…

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The price of Bitcoin fell by 10.14% during the trading session on Tuesday to $60,560, according to Binance platform data as of 10:56 p.m. Moscow time (7:56 p.m. GMT). As of 11:01 p.m. Moscow time (8:01 p.m. GMT), the price of Bitcoin was down by 7.92% at $61,966. Earlier on March 5 the price of Bitcoin hit a fresh all-time high as it reached $69,000 for the first time since November 10, 2021. According to Binance data as of 6:03 p.m. Moscow time (3:03 p.m. GMT), the Bitcoin price was up by 8.52% at $69,031. Bitcoin is a cryptocurrency invented…

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The competition provides young bankers across Africa with a platform to demonstrate their skills and knowledge through simulations that imitate real-life situations. Family Bank has been awarded as the best-performing young banker in Africa at the 2023 Battle of the Banks Africa competition, a simulated game by ICAP Training Solutions, in collaboration with the global Capital Markets Professional Services firm, Andile. The lender also received special awards for the “most aggressive bank”, “best risk managed bank” and “best team presentations”. “We are honoured to receive this award because it reflects our commitment towards investing in the personal growth, skills development,…

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BCA, a leadership enhancement organization, in partnership with the Kenya Private Sector Alliance and Strathmore School of Business will host the 2024 edition of the Made in Africa Leadership Conference (MLC). Themed “Making Africa Work for Africans: Bold Actions for Bold Results”, the conference, scheduled for June 12 and 13, 2024 in Nairobi, is expected to ignite discussions and inspire action towards cultivating exemplary leadership across the African continent. It also promises to transform gathering of thought leaders, innovators, and change-makers from diverse sectors. Speaking at the press launch at Strathmore University, Dr Modupe Taylor-Pearce, chief executive officer and co-founder…

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The automaker launches a test car that runs on hydrogen fuel cell in South Africa as it seeks to produce a mass-market model in 2030. By Seth Onyango BMW has claimed its place as the breakout star in Africa’s race for commercial hydrogen mobility with the unveiling of a hydrogen fuel cell vehicle in South Africa. Other automakers, including some of the world’s biggest truckmakers, such as Daimler AG’s unit Daimler Truck, Volvo Trucks and Hyundai are also expected to venture into the hydrogen chain, with fuel cells and increasingly attractive opportunity. Japanese carmaker Toyota has already stolen a march…

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