The 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) is ongoing in Beijing. Chinese President Xi Jinping will attend the opening ceremony on September 5 and deliver a keynote speech. In his speech, Xi will outline new ideas and propositions for building a high-level community with a shared future between China and Africa and announce new actions and measures for practical cooperation. At the summit, China and Africa will unveil a new positioning of their relations and a series of major measures for advancing modernization, thus creating a new blueprint for their partnership. China and Africa have consistently demonstrated…
Author: NBM CORRESPONDENT
An outsourcing and technology company, VFS Global has released an “Integrated Sustainability Report” on gender diversity and workforce inclusivity. The company recorded a marked increase in employee training hours globally, totalling 338,023 hours last year, an 86 per cent increase over the previous year. In Kenya, women account for half of the total workforce of 76 employees. From key initiatives like full pay for maternity leave of three months to celebrating women in the workforce, it has invested in community outreach initiatives to pave the way for a more inclusive future across Africa. Commenting on the report, Carold Kotie, Operations…
Absa Bank Kenya is enhancing its Corporate and Investment Banking (CIB) offering in the market, aiming to provide more personalized solutions, strategic insights, and proactive support to its clients. The bank has launched a new Corporate and Investment Banking (CIB) campaign themed “Invested in Your Story” that emphasizes moving beyond simply delivering competitive solutions and services to a deeper understanding of clients’ needs and a dedication to their long-term success. This new approach to corporate and investment banking acknowledges the common human insight that banks frequently lack empathy in their client engagements and interactions, with broad sentiment indicating that banking…
In this issue, we dive deep into how Elon Musk’s Starlink is shaking up the digital market in Kenya. With its competitive pricing and faster internet speeds, Starlink is challenging Safaricom’s long-standing dominance. What does this mean for the future of connectivity in Kenya? Should Safaricom, a major player in the market, be concerned about this new entrant? Also Featured in This Issue: Tala Survey Shows Consumer Confidence on the Uptick Learn about the positive trends in consumer confidence and what they mean for the Kenyan economy. Israeli Government Eyes 25-Year Farming Deal in Kenya Explore the potential impact of…
A company that uses drones to deliver medical supplies to remote areas where geographical barriers often hinder timely access, Zipline, has conducted its first delivery to St. Joseph’s Nyabondo Mission Hospital to enhance critical medical supplies, blood, and vaccines to improve regional patient care. During the hospital’s launch, graced by President William Samoei Ruto, Zipline demonstrated its capabilities with a live drone delivery from Chemilil to the newly opened facility. The delivery showcased the efficiency and reliability of drone technology in overcoming logistical challenges, particularly in regions where uneven geographical landscapes may hinder timely access to essential medical supplies. “Over…
Kenya Power (KP) has said electricity has been restored in most parts of the country. This comes after most parts except North Rift region and sections of Western were hit by blackout on Friday, August 30. “We regret any inconvenience caused and urge for patience from our customers as we work towards restoring normalcy at the earliest opportunity,” Kenya Power said in a statement. Supply had been restored to the entire Western Region, as well as parts of Central Rift, South Nyanza and Nairobi, it said in its second update, meaning things are back to normal in Nakuru, Kericho, Bomet,…
Industrialist and philanthropist Hasmukh Kanji Patel, who owns Mombasa Cement, died on Thursday, August 29, while being rushed to a private hospital in Nyali. Patel, 58, has been running several charity projects in Mombasa, Kilifi and Kwale counties. Tudor MCA Samir Bhalo, who is also a close family member, said the body of the business mogul, who passed on at around 1pm, has been moved to Pandya Memorial Hospital, Mombasa. “Today at around 1pm, we lost Mr Hasmukh Patel, the CEO of Mombasa Cement. He was just ill for about two days. He died on the way to hospital. We…
Rosslyn Riviera Mall has reopened its doors to the public after an extensive revamp, offering an array of curated experiences and activities designed to elevate the shopping and leisure experience for all visitors. Located on Limuru Road, the mall is now more vibrant, welcoming, and packed with exciting events tailored to engage and delight mall revelers. As part of the revamp, the mall has introduced several new features and amenities that enhance the overall visitor experience. These include updated interior designs, expanded dining options, and improved retail spaces, all aimed at providing a more luxurious and convenient shopping environment. To…
Diamond Trust Bank (DTB) has posted a Sh4.9 billion net profit, representing a 12 per cent growth in its half-year results. DTB Group Chief Executive Officer and Managing Director, Mrs Nasim Devji, attributed the lender’s performance to the continued rollout of its business growth strategy, which seeks to enhance customer value through increased customer reach, digital transformation, and sustainability excellence. “We are actively focusing on enhancing the delivery of our group business growth strategy. This strategy is geared at achieving socio-economic relevance and pivoting DTB to be a customer-centric, top-tier, digitally driven Bank in East Africa,” Mrs Devji said. She…
More than half of customers in Kenya remain confident in their ability to repay loans even as they report feeling the pinch of inflation “a little less” in first half (H1) of 2024. At least 70 per cent of digital credit consumers feel confident in their ability to repay their loans as the economy crunches. This is according to the Half 1 2024 Customer Barometer data released by Tala, where they surveyed 2,637 correspondents across key markets. Borrowing habits remained largely the same as the last half of 2023 with only 20 per cent reporting to have borrowed more in…