Absa Bank Kenya PLC plans to expand its reach with over 17,000 agency service outlets across the country in two years. The first phase of this rollout will see the Bank increase its agency network from the current 600 to over 3000 immediately, with a focus on broadening its presence and enhancing service delivery to the last mile. The project aims to enhance accessibility to essential financial services for individuals and businesses within their localities, offering both existing and non-customers the convenience of conducting cash deposits, withdrawals, and other transactions through third-party outlets. This expansion drive is an important strategic…
Author: NBM CORRESPONDENT
Trucks and buses market in Kenya remains attractive as sales increase by 50 per cent since the beginning of the year, particularly in the value-driven segments, Deluxe Trucks and Buses East Africa, the distributors for Ashok Leyland Trucks and Buses in East Africa, said on Monday, August 20. The growth of the industry, valued at $2 billion, is driven by infrastructure development, urbanization and the expanding e-commerce sector. Even so, faced by challenges such as economic pressures, new taxes, political protests, volatile currency exchange rates, and increased fuel costs the market has witnessed a substantial 17-18 per cent contraction compared…
Automotive distributor and service provider, CFAO Mobility has handed over a fleet of 14 Hino buses, financed by Family Bank at a value of Sh103 million, to MetroTrans Bus Company. Hino Buses come with a spacious interior and safety, power, and fuel efficiency. The brand also delivers benchmark levels of road performance and superior comfort. Speaking during the handover ceremony, CFAO Mobility Kenya Managing Director, Mr. Arvinder Reel emphasized their commitment to maintaining the highest technical and mechanical standards through their local assembly proposition, including the Hino buses that boast enhanced safety features. “We are honored to celebrate this significant…
Agriculture and Livestock Development Cabinet Secretary (CS) Dr. Andrew Karanja has promised sweeping reforms in the tea sector that supports the livelihood of more than 834,129 farmers in the country. This is after it emerged that the sector has been grappling with the challenge of unsold tea that has been stored in Mombasa warehouses. The unsold stock, which was initially at 100 million kilogrammes, has now been reduced to 70 million kilogrammes, amid concerted efforts to clear it by the end of September. CS Karanja said some of the successes in Kenya’s tea sector can be attributed to favorable weather…
Kenya Aviation Workers Union (KAWU) has postponed their planned strike that would have disrupted operations at the Jomo Kenyatta International Airport (JKIA) from Monday, August 19, to make room for dialogue. The intended strike issued to both Kenya Airports Authority (KAA) and Kenya Airways workers, was on account of, and in protest against, the alleged planned sale of JKIA to Adani Airport Holdings Limited of India. KAWU said the deal was being carried out in a secretive and unlawful manner, therefore, it would result in massive job losses. “Kenya Airports Authority would like to inform the public and all its…
CS Mbadi: Tough Choices for President Ruto’s New Money Man John Mbadi, the newly appointed Treasury Cabinet Secretary in the Kenya Kwanza administration, faces a pivotal challenge. With the mandate to navigate the complexities of Kenya’s fiscal policies, Mbadi has vowed to reinstate some clauses of the Finance Bill, 2024, previously shelved or altered. His tenure will be closely scrutinized to determine if he can succeed where his predecessors struggled or if it will be more of the same. The coming months will reveal whether Mbadi can balance fiscal responsibility with political pressures, ultimately shaping the trajectory of Kenya’s economic…
Court of Appeal’s decision to declare the Finance Act 2023 unconstitutional has significant implications for taxpayers and businesses operating in Kenya. The Act was assented to law on June 26, 2023 eliciting 11 consolidated constitutional petitions filed at the High Court’s constitutional and human rights division in Nairobi. The 11 Petitions sought to have the FA, 2023 declared unconstitutional arguing broadly among other grounds, that for FA, 2023 to be passed it required the concurrence of the Senate and involvement of the public regarding the amendments passed on the floor of ‘the House’. Further, the Petitioners at the HC…
In the last decade, Kenya’s healthcare system has witnessed a transformation, with the country’s health workforce experiencing a substantial growth. According to a 2023 Health Labour Market Analysis, the country boasts of almost 190,000 active health workers across various critical health occupations, ranging from nurses and midwives to doctors, surgeons, and specialized healthcare professionals. Kenya has made significant strides in healthcare workforce development, evident from the annual production of approximately 8,200 healthcare workers contributing to the expansion of the sector. With projections indicating that the number of medical practitioners will go beyond the 270,000 mark by 2031, it is clear…
Insurance is not just about business. It is all of taking care of risks that may come in future such as death or terminal/critical illness. It saves you the hustle of forming physical and online groups – WhatsApp, and Facebook groups , for example –, to ensure money is collected to help defray funeral expenses of people you are directly responsible for. This should not be the case as there are different ways to protect your loved ones to ensure that they lead peaceful and comfortable lives. In today’s world, one of the best ways to ensure that a stable…
The world is holding its breath as Eliud Kipchoge, the undisputed marathon maestro and Tecno mobile’s brand ambassador, is poised to win a third Olympic marathon gold medal at the Paris 2024 Summer Games. The prospect of this historic achievement has not only sent waves of excitement through the athletics community but has also underscored the indomitable spirit of a man who continues to redefine the limits of human endurance and achievement. In 2023, TECNO picked Kipchoge as the brand ambassador for its flagship Phantom X2 series. § “Kipchoge has mastered the art of making the impossible seem ordinary. He…