A woman is the full circle. Within her is the power to create, nurture and transform – Diane Mariechild, Author of Mother Wit and Inner Dance BY VICTOR ADAR Mothers Day is not a public holiday but a day when people are expected to show appreciation to mums and mother figures. It is an annual event that is generally celebrated on different days in different countries. This time, it was celebrated on May 10. Though sometimes overrated, a tangible gift like shoes, dress, wristwatch, earrings, laptop or a car, money transfer, or a dedication message to a special lady in…
Author: NBM CORRESPONDENT
Poor management and graft could have killed the National Hospital Insurance Fund (NHIF). The inappropriate behaviours by top managers that saw private clinics, which the national insurer had not inspected receive payments, including endemic boardroom wars and structural problems were part of the warnings. It was always about scandals with previous top management being charged of abuse of office and conspiracy. You may wonder how, for example, ghost clinics were able to draw cheques from the hospital insurance fund. Systems were most likely being misused. As such, Peter Kamunyo Gathege was appointed as the new CEO of the NHIF with…
In periods when the economic outlook is uncertain, investors should prioritize rebalancing. Although it is difficult to predict what the global pandemic will really hold for different asset classes, leading finance expert Saikat Kumar underscores that rethinking one’s asset allocation strategy amidst the current market turmoil has never been more important. “There is no doubt that the economy and markets will spring back especially with the many progress being made to overcome this global crisis. However, full recovery might take time, and so it is crucial for investors to add some resilience into portfolios in order for them to meet their…
The pound – May’s worst performing major currency – could “easily drop to $1.18” at the end of June, warns the CEO of one of the world’s largest independent financial advisory and fintech organisations. The warnings from deVere Group’s chief executive and founder Nigel Green come as it is revealed that the British currency shed almost 4% against the U.S. dollar in May and 3% against the euro. Mr Green comments: “The pound is this year’s third-weakest major currency – just behind the New Zealand dollar and Norwegian krone, which have done even worse. It has been battered since the…
The World Bank Board of Directors approved a $43m International Development Assistance (IDA) credit for Kenya as part of a larger regional Emergency Locust Response Project to respond to the threat posed by the desert locust outbreak and to strengthen Kenya’s system for preparedness. IDA was established in 1960. It helps the world’s poorest countries by providing grants and low to zero-interest loans for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives. IDA is one of the largest sources of assistance for the world’s 75 poorest countries, 39 of which are in Africa. Kenya…
Kenya’s financial services providers and consumer credit market will have to drive a robust, proactive response to the COVID-19 crisis if they are to manage the risks to the industry, with the pandemic expected to have a major impact on the country’s economy and the consumer landscape, warns TransUnion, a global information and insights company Past crises and initial data suggest there will be ‘a significant reduction’ in the quality and volume of credit in Kenya as consumers and businesses grapple with lower income. “What will define the COVID-19 pandemic for the consumer credit market is how banks and lenders…
Little, one of the ride-hailing companies in the country, has expanded by launching operations in the towns of Eldoret and Nyeri. This has bolstered its vision of being the leading Pan African mobility company. According to Kamal Budhabhatti, Little CEO; safe, efficient, and reliable mobility is the heartbeat of their business. “We are always looking to offer this service to ready markets. That’s why we were eager to begin operations in Eldoret and Nyeri. It is quite evident that these two towns are eminent to our economy and the demand for ride-hailing services is growing. This has offered us an…
In a move to cover more people in this period of the coronavirus pandemic, 4G Capital, a financial technology credit provider has entered into a partnership with Turaco, a micro-insurance start-up to offer micro health insurance to their clients in Kenya. The partners look to cover the large population that normally operate in the informal sector. They want to offer an insurance package to ease the burdens that most people in the sector face when they want to visit hospitals. This is expected to help many that any unprecedented financial burden will see them go into ruin. According to Wayne…
BY BOY MATUMBAI The Co-operative Bank of Kenya has placed Kenya on the global financial map with the internationally acclaimed Morgan Stanley Capital International (MSCI), adding the top lender to the coveted ranks of the Frontiers Index Small Cap Index. More significantly, Co-op Bank, alongside the local chapter of the British African Tobacco (BAT), carried Kenya’s flag high, being the sole African country that produced corperate organisations on the index that lists preeminent blue-chip listed stocks from select frontier markets of Asia, Middle East, parts of Europe and Africa. The phenomenal inclusion in the index raises the visibility of a…
Aga Khan University Hospital, Nairobi (AKUH) has opted to offer free Covid-19 testing for all their in-patients, surgical and day surgery patients as part of the safety measures to provide a safe environment for all patients and staff. This will enable them determine the best approach to care for their patients including the use of Personal Protective Equipment (PPE) during their stay in the Hospital and enhance the safety of patients and caregivers. Since the onset of the pandemic, AKUH Nairobi has remained in consultation with the Ministry of Health, their medical staff and experts in their Infectious Diseases Department to ensure that…