BY FRANCIS OKWEMBA The recently imposed withholding tax on gambling winnings is expected to slow-down revenues for casinos, according to a new report, spelling doom to the many casinos operating in Kenya’s major cities and towns. A report by Pricewaterhouse Coopers, Raising the stakes in Africa: Gambling outlook 2014-2018 (South Africa – Nigeria – Kenya), shows the 20% tax, coupled with a general slowdown in the economy, will cut growth in gambling revenues to 4.9% in 2014 and 4.1% in 2015. Currently the gross gambling revenue stands at 7.6%, an improvement over the 5.6% increase in 2012. The PwC…
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BY MARTIN IRUNGU November has been a rather slow month for the bourse evidenced in the subdued movement in share prices, NSE 20 share index decline as well as the drop in the NSE all-share index. The bear market has persisted with heavy declines as compared to rises as the market tries to adjust prices to reflect company fundamentals. This may have left investors trading on speculation with a bitter taste due to positions taken at higher prices. The month also had listings by introduction of two firms in the Growth Enterprise Market section. These are Flame Tree Holdings Ltd…
BY ZAWADI MUDIBO Leasing is a relatively cheap way of securing a property. The all-time high mortgage rates and exorbitant house prices make owning a property a mirage to many people. With an increase in fraud and termination of the lease agreements without the proper procedure, one needs to be cautious when signing a lease agreement. Lamudi Kenya MD Dan Karau says, “Most standard leases are not detailed enough, which could be troublesome if the verbal agreement was not in writing too. Once you sign the lease agreement, you are locked in, therefore you need to discuss with the prospective landlord…
BY TONY SUGDEN Security is a major concern for small businesses. In Kenya, 68.2% of small and micro-enterprises mentioned insecurity as a challenge to operating business, according to a study featured on KCA Journal on Business Management. But small businesses, limited by access to funds, find it expensive to make the necessary investments in security, often leaving them exposed to criminal attacks. Yet there are low-cost measures that can limit their vulnerability to theft, break-ins and vandalism, all of which raise operating costs and disrupt or even close businesses. In Kenya, small businesses provide 78% of the country’s employment and…
BY VICTOR ADAR Gloria Michelle’s is not the ordinary run-of-the mill entrepreneurship story. The 29-year-old founder of Recours Four Kenya Consultants did not diligently put aside her savings or even marshal funds through harambees to start her venture as is the almost now cliché script of most start-ups. On the contrary, she has achieved what so few others have- starting a company without capital and building it into a thriving multi-million business. All it took was a Facebook page, a vision and four years down the line; Recours For Kenya or R4K as it is commonly known is a Sh10…
BY NABEEL HASSANALI The current entrepreneurial ecosystem in Kenya is largely dominated by start-ups – be it tech or social enterprise. Regardless, there are similarities that cut across each of these in terms of their formative demographics. Often, entrepreneurs face a hard time distinguishing between an idea and opportunity -the former being a skeleton of one’s thought process while the latter is a viable concept that can be spun into a business model. This is after the entrepreneur has assessed its commercial viability, as we will later see. Many startups achieve success by identifying an opportunity in the market…
BY CHARLES OUMA The East African Information Communication Technology (ICT) industry is widely driven by young people. Surveys indicate that more than 70% of the continent’s population is made of young people below 30 years of age. Technology companies interested in establishing a name for themselves in this sector therefore have to capture their interest by designing products that embrace the future. And there is no better place to pursue this vision than by targeting the education sector. Intel Corporation, the international technological giant has invested over USD 20 billion in building factories, carrying out research and development and…
BY PETER WANYONYI Developing countries have never really been great at providing basic services, and Kenya is no exception. All around the country are rubbish dumps left to fester untreated, and in many cities garbage simply lies around uncollected. Add to this problem the now-growing amounts of e-waste, and the situation is set to get worse, not better. E-waste is all types of electrical and electronic equipment that is unwanted, or has served its purposes and has then entered the local waste stream. It includes computers, TVs, radios, mobile phones, household appliances, and all other household or business items…
BY ZADOCK MALIKA Suit jacket that will fit him well and create the best image possible, as there’s a suit style to match and enhance each body type. There are three typical male body types: tall, short, and round. A man’s wardrobe cannot be complete without a suit. There are different types of suits namely: Single Breasted, Double Breasted, Lounge, Dinner, Business, Mandarin, Wedding, Zoot and Tuxedos, among others. By selecting a timeless, classic style of suit, you will be able to wear that suit for years to come. The color can be a very important decision. Some good and…
BY MARVIN SISSEY In its 2013 report titled , Reverse the curse: Maximising the potential of resource driven economies, McKinsey & Company defines a “resource-driven country” as one whose economy relies on oil, gas, and mineral sectors, accounting for more than 20% of exports or generating more than 20% of its fiscal revenue. With the discovery of what has been widely tipped to be ‘economically viable amounts of oil’ in the Turkana Basin (approximately 600 million barrels), Kenya is imminently headed to becoming an oil-driven country in less than half a decade to come. Precedent shows that we should receive the…