BY LUKE MULUNDA A few days after MPs passed the Bill capping interest rates, bankers suddenly turned into money angels, promising to lend up to Sh30 billion to small and medium sized enterprises at friendly interest rates. But that offer did not sway President Uhuru Kenyatta or the legislators. With that signature, the President pushed placed a control valve on the banks’ biggest pipeline of revenues, and spelt doom to the mega profits that have been witnessed in the financial sector even during economic downtimes. Financial institutions have been making massive profits from loans and advances. Statistics from Central Bank…
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BY NBM WRITER While the average Kenyan can only dream of an appearance on TV, news editors are scrambling to have Babu Owino on their platforms…and for prime news nonetheless! Whilst some may wonder why, it is not difficult to see why the man pulls such a crowd. For starters, he is SONU chairman – the student leader at Kenya’s foremost university. The man is also pursuing an LLB on top of the BSc in Actuarial Science he already boasts. But most important for this vain generation, he not only has a few coins to spend, a decent ride, a…
BY JANE WACHIRA Time has been defined as the measured or measurable period during which an action, process, or condition exists or continues. It is what is measured as seconds, minutes, hours, days and years. Time is God-given and free like air, sunlight and the wind. Sunlight, wind and air have been classified as natural resources and their use and disuse is regulated by well-codified laws; so what if time was classified as same and the government regulated what its subjects did with their time? Article 260 of the Constitution of Kenya 2010 defines natural resources as the physical non-human…
BY IAN ONDARI Disruption. Digital intermediaries. Technological innovation is now en vogue, start-ups have declared open season in the service delivery industry. Similarly at the precipice of this disruption is the financial services sector. It’s now a norm to wake up to a mobile application that halves conventional processes with just the click of a button. Business moguls are no longer octogenarians in bespoke Savile Row suits. Enter the era of twenty-somethings who could care less whether this or that Audemars Piguet is a limited edition. Blame this phenomenon on the increasing digital literacy or the bulging millennial demographic but…
Apollo Kiarii, CEO Kenya Tea Growers Association talks tea to NBM’s Kevin Motaraki and lays bare the issues bedevilling the critical sector that is also Kenya’s leading foreign exchange earner Is tea drinking the culture we would like to think it is, locally at least? What is in your cup right now? (He tries to look diabolical and succeeds briefly and then lets out a hearty laugh upon seeing the look on my face. I jest. I was on coffee). Tell us about the KTGA. It is a BMO (Business Membership Organisation) that brings together commercial tea plantations and tea…
There is a rising need for hotel owners and tour operators to design products and packages for the emerging group of millennial travelers who may not be keen on luxury as compared to convenience, budget and flexibility. According to Eugene Too, the Online Revenue Manager for The Panari Hotel, the lower gap in the current millennial bracket is very clear on what they are looking for, which is usually fun and adventure. It is therefore important for providers to mark up their facilities if they want to capture this growing market. Mr Too’s observations were reiterated by Alfrida Boinett, CEO…
BY VICTOR ADAR Titus Ing’au, a driver working for a private accounting firm in Westlands is fond of buying smaller packaged items from as low as 100 bob especially during mid month. The items usually include margarine, airtime, soap as well as other basic stuff such as milk, bread, flour and cooking oil. “Small equals big,” he says. “There is a difference. When I buy items in bulk, I end up misusing. I would rather buy 250 grams of margarine than 1Kg to help me save. I will apply very little of it on bread and save some cash in…
BY NBM WRITER It has been interesting to see how businesses run by families and friends perform especially when listed. As always the case, family controlled ventures would rather remain private. But that is set to change especially with the introduction of the growth and enterprise market segment which has, sort of, made going public more attractive. Founders now move to public space with a local retail chain under Kshoe brand starting the drive in June. The second, and the first fashion and lifestyle house to follow the same path psyched that their value will pick up in the long…
By ROWAN BENN The Internet world has changed so much that we really need to think carefully around some issues. Buying anything is so much easier online in the sense that everything is so much more accessible than 10 years ago. But accessibility brings complexity. We are drawn to so much online, but how can we tell whether it is genuine. We have compiled our top tips to help you sidestep the pitfalls and buy your car successfully online. Selecting a Reputable Dealer: Beyond talking to friends about who they would recommend, you can use the Internet to help you…
Catherine Mturi-Wairi is the 13th person to serve as managing director, Kenya Ports Authority (KPA). She takes over from Mr Gichiri Ndua who was sacked in February. She has worked at the parastatal for the last 23 years having started out as a junior accountant in 1993. Being a certified accountant with an MBA and BSc Finance from United States International University, Africa, she played a big role in ensuring that the state run agency moved from its past shaky financial position to the robust and healthy institution it is today. The ability of the certified accountant to innovate and lead…