Risk Management is a relatively new field of professional practice yet locally and globally, there is a major shift by regulators to entrench high risk management standards and which have become a core reporting requirement by management as well as a key responsibility of the Board of directors in the private sector and government. According to Dorothy Maseke, chairperson of the Institute of Risk Management in East Africa (IRM EA), Kenya’s public sector is for instance, guided by the Mwongozo Corporate Governance Code which sets out its compliance parameters. “Threats and opportunities have been a standard in every organization’s overall…
Author: NBM CORRESPONDENT
Kenya Airways (NSE: KQ) has increased flight frequency to three regional tourist destinations – Mombasa, Zanzibar and Kilimanjaro in July – August 2019. The increased frequency will also cover the Juba and Kigali routes as a result of increased demand during the peak travel season. The coastal city of Mombasa will see an increase of two flights to twelve daily with customers travelling to Kilimanjaro enjoying an additional flight bringing the total flights to two daily. The Juba, Zanzibar and Kigali routes will each see an additional flight with 4 flights to Juba (Monday, Wednesday, Friday & Sunday), 5 flights to…
Africa’s largest wind farm, the Lake Turkana Wind Power project, has been officially launched. The Kenyan project is aimed at reducing electricity costs and dependence on fossil fuels and moving the nation to meet its ambitious goal of 100% green energy. The wind farm which consists of 365 turbines on the shores of Lake Turkana in northern Kenya is expected to produces up to 310MW and supply 13% more electricity to the national grid. Each one of the 365 turbines has a capacity of 85kw. Kenya is currently at the top when it comes to renewable energy as the country…
Graca Machel advances the conversation on financing women entrepreneurs in Africa Her Excellency Graca Machel was in Nairobi in July to support 100 women-led businesses in East Africa to access funding from G7 countries in partnership with her organization, Graca Machel Trust. The renowned children and women’s rights advocate first interacted with her partners among them Barclays Bank and diverse networks representing women in media, finance, Agribusiness and even those in tech to accelerate the conversation surrounding gender inclusion and diversion towards women’s social, economic empowerment. “The objective of this platform is to work together with women movements in removing…
Alexander Helfritz, the sales and marketing director of DT Dobie and Usha Nagpal, the general manager sales for Volkswagen, unveiled the Polo Vivo Comfortline and the Caddy Kombi at a launch function. Delivering the keynote speech, Alexander Helfritz said the Company is looking to assemble more of their brands locally in the near future. “In 2016 we launched the first ever locally assembled German car in Kenya, the Volkswagen Polo Vivo. Today we are launching the new VW Polo Vivo Comfortline, an improvement from the first Polo Vivo and the Caddy Kombi van which are locally assembled and are designed…
DHL Express, DHL Global Forwarding and DHL Supply Chain, part of the Deutsche Post DHL Group (DPDHL Group), has launched a partnership with Teach For Uganda, a network partner of Teach For All, to eradicate education inequity, raise a nation of true leaders and promote educational opportunities and employability for young people in Uganda. This marks DPDHL Group’s 18th partnership with Teach For All under the new strategic framework, a focus to nurture employability and life skills of young people from difficult socio-economic backgrounds around the world, and its first partnership in Africa. James Kassaga Arinaitwe, founder and CEO of…
Kenya Exporter of the Year Awards (KEYA 2019), which is organised by the Kenya Export Promotion Council (EPC) to recognise firms that have made significant contribution to the development of the economy through exemplary business performance, has honoured local enterprises that have made significant contribution to the export sector. British American Tobacco (BAT) Kenya Limited won the solid rock commendation (lifetime achievement) award while spear of the nation award (outstanding sector commendation) went to Molo River Roses Limited. Other winners were Polucon Services Kenya Ltd and Smolart Self-Help Group (rising stars awards), Jungle Macs (EPZ) Limited (upcoming export performers – eagles…
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…
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…
