By Lilian Mwikali and Judy Totari NCBA Bank Group and Inchcape Kenya have inked a deal that will see the financial institution finance customers to acquire vehicles from the automotive distributor. The lender’s director of asset finance and business Lenox Mugambi said during the signing of the agreement at Inchcape Changan showroom along Lusaka Road on Tuesday, June 4, that the collaboration will offer “exceptional benefits” specifically for those looking to acquire Jaguar, BMW, Land Rover and Changan vehicles. “As we navigate through the complexity of vehicle financing, our goal remains clear to simplify the process and make it more…
Author: NBM CORRESPONDENT
Narok County government has started a ban on usage of private vehicles for game drives in Maasai Mara National Reserve, saying only safari trucks, safari land cruisers and safari vans are exempted. The move will boost the reserve’s tourism revenues while reducing the impacts of tourism on its natural environment, as per the Maasai Mara Management Plan 2023-32, whose main objective is strengthening and harmonising management systems and improving internal collaboration between the two sections of the reserve, through for example, the establishment of an internal management committee. Authorities say the plan will also align airstrip landing licensing throughout the…
By Ann Precious Kinyua It is not uncommon to find “Lipa mapema na pochi la biashara” stickers in public service vehicles nowadays. Investing in digital advancements gives all sectors of society big opportunities, especially in the realm of financial transactions. However, amidst the convenience of digital money transfers, it is critical to ponder the associated costs. The digitised method of cash transfer has surged, with Safaricom’s M-Pesa proving convenient. The telco’s extensive network makes it possible for users to reach individuals even in the most remote areas, facilitating not only money transfers, but also communication through phone calls and text…
Kenya Airways Group managing director and CEO, Mr Allan Kilavuka, has been honoured with the 2024 African Aviation Leadership Award. Established by African Aviation Magazine in 1999, the award recognises individuals, companies, and organizations that have made significant contributions to the development of aviation in Africa. “This award highlights Allan’s exceptional leadership, visionary approach, and dedication to advancing the aviation industry across the continent,” CEO of African Aviation Nick Fadugba FRAeS, said. “His innovative strategies and commitment to excellence have set new benchmarks in the industry, inspiring peers and driving significant progress.” The panel of judges for the award included…
Murang’a County Government Governor Dr Irungu Kang’ata has reiterated the need to pursue a manufacturing and industrialisation economic agenda at the national and county levels to foster accelerated development. He said pursuing a progressive manufacturing and industrialisation agenda, particularly for export-led enterprises, should include adopting a conducive economic environment, including attractive investment and tax policies. Speaking in his county during an event to officially launch a new macadamia oil processing plant by listed agribusiness company, Kakuzi, Dr Kang’ata said manufacturing ventures provide numerous direct and indirect benefits that spur economic progress. Export-led enterprises, he noted, provide several benefits at the…
By Betty Guchu As Kenya aims to rationalize and harmonize tax expenditures, the lingering question is whether this fiscal performance will lead to a standing ovation or calls for a script rewrite. Tax incentives are deductions, exclusions, or exemptions from taxes that are due to the government. They are employed as incentives to draw money flows into desired economic sectors or areas, or to make particular investments. Thus, tax incentives lower a person’s or a business’s tax liability while costing the government money. They may be cost-based, meaning they lower the cost of capital, or profit-based, meaning they minimize income…
BY ROP JANET Kenyans have been urged to embrace their cultural diversity in order to promote unity, national cohesion and economic progression. Kajiado Deputy Governor Martin Moshisho noted that Kenya is home to diverse of ethnic cultures each with its own unique traditions, beliefs and practices. Speaking in Kajiado Town during celebrations to mark the World Cultural Diversity Day, Moshisho emphasized the need to embrace one’s culture and traditions so as not to lose identity in the growing face of globalization. “Through embracing our diverse cultures as a nation, we will be able to appreciate our differences and live together…
Family Bank Group has posted a Sh1.3 billion profit before tax for the period ended March 31, 2024, representing a 24.3% growth from a similar period last year. The growth was mainly driven by an increase in interest income and non-funded income and an expansion of the balance sheet given strategic investment in secure and stable investment avenues and effective asset management even as the economy continued to grapple with the adverse effects of high inflation. “The bank remains resilient amid the tough operating environment. We remain committed to supporting our customer needs, investing in our workforce and optimizing our…
BY LIA ZHU Editor’s note: New tariffs will soon be imposed on Chinese imports such as electric vehicles, United States has revealed. China Daily examines experts’ concerns over the adverse effects such action may have on US consumers and others, and on climate change objectives. Steep tariff rises by the US on Chinese electric vehicles and batteries are likely to backfire, hurting consumers and companies and hampering climate goals, experts say, even though the stated goal is to protect US manufacturing jobs. On May 14, US President Joe Biden directed the office of the US Trade Representative to increase tariffs…
Betting company, SportPesa has partnered with rugby club, Nondescripts Legends (better known as Nondies) in a deal that will see the team receive Sh2 million in sponsorship support towards a doubleheader against their Uganda Vets counterparts. The cash will go towards activities such as coaching and mentorship sessions for young talent and tournaments line up for the Nondies Legends, among other rugby development plans under the “Tujiamini initiative” that will be announced once they come on stream, SportPesa’s public relations manager Willis Ojwang, said on Thursday, May 23. Mr Ojwang said the first leg will be played on June 8,…