By NBM reporter After two four-year terms at the helm, Prof Njuguna Ndung’u’s tenure as Central Bank of Kenya governor has finally come to an end. His exit will mean different things to different people. His regime has been dotted with controversies that have clouded the monetary policies which, many agree, have improved economic fundamentals. And so how he walks out of his office on March 4 will depend on what critics and supporters choose as his legacy. Bankers, for instance, will applaud him. He is now one of the most admired bankers on the continent after being named Central…
Author: Editor
BY MICHAEL DUNCAN The future of oil and gas companies remains indeterminate in the face of declining global prices of crude oil, which have seen a barrel now trade at less than $50 (Sh4,500), the lowest in the last six years. The crisis, according to reports by analysts in the energy sector, has been occasioned by accelerated production by the United States from its shale resources and a general decline in the demand for oil. And Saudi Arabia, the largest oil producer within the Organisation of Petroleum Exporting countries (Opec) has refused to heed a call by other members of…
BY DAVID WANJALA Local private broadcasters have put up a spirited fight against the disregard and ambush by policy makers in the digital migration push, with court battles stretching all the way to the Supreme Court. And though this resulted in postponement of deadlines and ultimate delay in migration, the broadcasters, who have hugely contributed to media development in Kenya, ultimately earned their rightful place, after a long slumber, in the quagmire that has been analogue-digital migration. Local broadcasters, even as a consortium, could not meet the basic requirements, not even giving a bid bond when the Communication Commission of…
By Stephen Ekwaro The Central Bank of Kenya on January 14 lowered the Kenya Bankers Reference Rate (KBRR) to 8.54 per cent from 9.13 per cent, sending a strong signal to commercial banks to lower the cost of credit. In lowering the rates, CBK’s Monetary Policy Committee cited an improvement of economic indicators such as inflation, the foreign exchange rate and reduced government borrowing. The KBRR framework was introduced in July 2014 to enhance transparency in the pricing of credit, to improve the transmission of monetary policy signals into changes in lending rates by commercial banks. The new rate was…
By Gabriel Cajetan For the past 15 years, Alfred Kiptanui has paid less than Sh4,000 for his one-bedroom house in Mwanzo Estate, Eldoret town, Uasin Gishu County. Not even the flaking off of its roughcast walls that have withstood the test of time ever convinced him to shift to a different house. But the father of three who works as a driver at one of the mushrooming industries in Eldoret shifted five months ago to a single room after his landlord issued him a notice, alongside other tenants, to vacate and pave way for renovations that would result in increase…
BY LYDIAH WERE The first time Joyce Mbaya stood to speak to a gathering of professionals and business executives, she knew this is what she wanted to do for the rest of her life. Shortly after, she curtain-raised for Robin Sharma, the renowned international speaker, when he visited Nairobi in 2011. She had just launched her coaching company, GIBÉBÉ, after walking out of a lucrative job at the age of 27 years. “I was so nervous to stand in front of so many people, more so being a young person addressing an audience of senior executives,” says Ms Mbaya. There…
By Victor Adar We all know the depressing feeling one gets when one has to queue for hours on end to pay that electricity bill, or make a transaction at the bank. Haven’t we all seen people ask others to “hold the line” for them as they are unable to stand for long? The good news is that things, it appears, have started to change, as far as customer service is concerned. A spot check in several banks reveals that, with increasing competition, financial institutions are implementing some creative customer service models. In contrast to queuing, bank customers can now…
Ultra Slim full metal Galaxy A5 and A3 launch in Kenya Samsung Electronics has unveiled the Galaxy A5 and Galaxy A3, offering refined, trendy designs and the most advanced functions to support social networking for mobile consumers. Available in a variety of colours and sizes, both devices empower younger consumers to quickly and easily capture meaningful moments, connect to social media and share their daily lives. “The Galaxy A5 and A3 offer a beautifully crafted full metal unibody, slim design, superior hardware and the best possible social media experience,” said Manoj Changarampatt, Samsung Internet and Mobile, East Africa. The Galaxy A5…
By Kevin Motaroki It sounds impolite to say it but a socialite needs to be loaded. True, she thrives on attention and popularity, but she also needs money to make these possible to get. One cannot dress in the day’s hottest designer issues without a puffed up bank account. The source of the money doesn’t matter – it could be from a parent, lover, politician or businessman – as long as it exists. The craving to be a socialite among Nairobi’s teenage girls, and even women, has become the in-thing. They flaunt their “assets”, as bums and busts are now…
BY PETER WANYONYI Development is a function of policy; its execution, enlightened policies, coupled with effective and efficient execution, are the reason countries like Singapore have turned into developed countries from what were malarial swamps just a few decades ago. In development discourse, two approximate paths are easily discernible: There is the strong, firmly-controlled and centrally-planned mode of development favoured in South East Asia – Singapore, Malaysia, Taiwan, South Korea, and Hong Kong – and now in Rwanda. This model prioritises large national champions, calls for heavy investment in national infrastructure and in national industrial champions, and is very…