The African Development Bank (AfDB), a multilateral development finance institution, has partnered up with Credit Bank to help out small and medium-sized enterprises (SMEs) with credit. The bank has agreed to issue Credit bank with credit worth Sh824 million ($8 million) to help out SMEs in industries such as agricultural, construction, renewable energy and manufacturing. The loan has a five-year maturity with a two-year grace period. According to Stefan Nelletanby, the director of financial sector development of AfDB, the board of directors of the African Development Bank Group has approved Sh824 million targeted at financing Kenya’s Credit Bank for lending…
Author: NBM CORRESPONDENT
The Aga Khan University Hospital in Nairobi has announced plans to establish a Children’s Specialty Hospital to offer the most advanced care for children in the region and a Cancer Research Centre to document and inform treatment options for patients. Speaking during the launch of a series of events to mark the hospitals’ 60th anniversary, Firoz Rasul, President of Aga Khan University said the Children hospital and the cancer research centre will be among other firsts that the hospital is investing in with a view to boosting the quality of healthcare services in Kenya. The children’s specialty hospital will be…
For the first time ever in independent Kenya, a sitting Finance Minister has been hounded from office to courts of law for, allegedly, dipping his hands in the public purse. It was long coming. The monies that are alleged to have been lost are so huge such that not even President Uhuru Kenyatta would afford to be typical about it; throw a tantrum, promise stern action and forget about it. How does the arrest and arraignment of the Cabinet Secretary for Treasury on charges of the nature of economic crimes speak of this administration especially in relation to its…
Africa Plantation Capital is in the process of acquiring the Kenya Bureau of Standards certification to be the first bamboo tea production unit in East Africa. Operating successfully in Kenya since 2015, the establishment has achieved an amazing growth ratio, with the main objective being provision of sustainable plantation management services. The company has already established several large-scale bamboo projects. Africa Plantation Capital (APC) has also produced bamboo bike prototypes for its eco bike brand – Boorider, while at the same time is in the process of setting up a mega-scale project to provide bamboo biomass for the energy sector.…
BY ANTONY MUTUNGA It started with a slogan that many related to; America first, but that no one had anticipated would lead to war. Global trade war has been showing its ugly head for some time now as the USA and China lock horns. Since 2018 the two countries have been involved in a battle of increasing trade tariffs that have no clear end in sight as part of Trump’s agenda even before he was elected to office. During his presidential campaigns, one of his agendas was to reduce the trade deficit, which kept growing alarmingly especially with China. According…
BY CYNTHIA WAIRIMU Mold is a fungus that develops from airborne spores and grows well in humid warm places with little to no airflow. This makes bathrooms and enclosed rooms ideal for growth. Humidity could arise from badly ventilated rooms, rainfall soaking through your walls, leakage, bad plumping. Mildew is also a fungus but appears differently in shape, colour and texture. It can appear anywhere, on walls, ceilings, carpets, and bags and clothes. As long as the conditions are right, it will grow and spread. How can you tell that you are dealing with mold and not dirty patches? Apply…
BY DAVID ONJILI The 32nd edition of the Africa Cup of Nations (AFCON) kicked off in Egypt on 21st June. 24 teams are battling it out to be crowned as the continent’s champions in the biennial soccer event. Four Egyptian cities, Cairo, Alexandria, Suez and Ismailia play host to the games and also showcase the country’s rich culture. Cameroon arrived as the defending champions and Kenya’s Harambee Stars makes a return to continental football after a fifteen-year absence, no mean feat. Star players to watch out for. The chants… “Mo Salah, Mo Salah” do not just reverberate in Liverpool, England…
BY DR TOM ODHIAMBO The Kenyan economic secret was made public recently. The government statistics say that the country is doing quite well economically. But the real figures on the ground don’t seem to support the mathematics, to a large extent. Government’s own numbers show that the economic growth rate is impressive. At 6.3%, Kenya is doing very well. Definitely one can see some evidence of the growth – more new and bigger cars on the road; newer and taller buildings; shiny shopping malls; high-end eateries etc. The dream of prosperity doesn’t seem to be that far, at least symbolically,…
Synology Inc. has launched DiskStation DS419slim, a 4-bay NAS equipped with 2.5” drive support. Underneath the palm-sized chassis, it supports up to 20TB maximum raw capacity with four 2.5” HDDs. “Many people are still struggling with managing files scattered across public clouds, USB drives, or personal computers. As a clever and reliable personal cloud, DS419slim helps keep your precious photos, videos, and documents in order, bringing everything under control with its powerful file management capabilities,” said product manager at Synology, Katarina Shao. “Not only can you easily access, share, and synchronize all your files across multiple platforms, but you can also…
BY ANTONY MUTUNGA Cybercrime has continued to grow alarmingly all over the world. In fact, according to the Ninth Annual Cost of Cybercrime Study by Accenture and the Ponemon Institute, the average number of reported security breaches in 2018 rose by 11% from 130 to 145. It is quite high considering that the study only includes research from 11 countries. The rate is faster in Africa where more and more people, as well as organizations, continue to fall victim to cyber-attacks. According to the 2017 Africa cybersecurity report by Serianu, the estimated cost of cyber-crime on Africa is $3.5 billion…