The luxurious eight seater Mercedes Benz Vito mid sized passenger van will shake up the market in Kenya by setting new standards of comfort and safety. The introduction generated an enthusiastic response and 27 were snapped up in two weeks in an impressive demonstration of the appeal of the Mercedes brand and the reputation for reliability and comfort. The Vito is ideal for carrying upper income visitors to and from airports, hotels and tourist attractions in and around Nairobi and Mombasa. DT Dobie is also offering the option of a cargo van. The strongly built body provides quick access for…
Author: NBM CORRESPONDENT
The Retirement Benefits Authority (RBA) has announced an 8% year-on-year increase in the total assets under management by fund managers and approved issuers in Kenya. According to the recently released RBA Retirement Benefits Industry report for December 2018, 16 fund managers and 15 approved issuers submitted 1,236 scheme reports with a total fund value of Sh980b representing an 8 % increase compared to the December 2017 values. The report further confirms that the total assets managed by fund managers amounted to Sh813b while the approved issuers managed Sh167b at the end of December 2018. In terms of investments by fund managers and…
The Kenya Tea Development Agency (KTDA) has signed a financing deal with Standard Chartered Bank Kenya to purchase 95,000 metric tonnes of fertilizer that is to be distributed among KTDA tea farmers across the country. The Sh3.5b financing deal, which is a part of the agency’s fertilizer supply program, will see more than 650,000 farmers who own 69 factories, benefit from the supply of fertilizer through the arrangement. According to Lerionka Tiampati, KTDA group chief executive, the deal will assist farmers across the country access affordable fertilizer that will go towards improving the quality and yield of their tea. “We…
Davis & Shirtliff, the market leader in water and energy solutions manufactured its twenty thousandth high-rate GRP filter. The original Dayliff high-rate GRP filter was introduced nearly 35 years ago. “I’ve been fortunate to celebrate many Davis & Shirtliff milestones during my 40 years with the company. However, this one is truly momentous, because after today we will have installed 20,000 water filters all across the country providing safe drinking water and protecting millions of people from water contamination,” said Davis & Shirtliff group chairman Alec Davis, adding that they are grateful to all of their customers who have put…
The World Bank, an international financial institution, and three county governments have agreed on a Sh10 billion Development Response to Displacement Impacts project. The initiative is aimed to boost any projects in the arid regions. The three county governments, Garissa, Wajir and Turkana will benefit in terms of improved access to healthcare, water, education and building resilience. This project is a part of the World Bank’s Sh120 billion North and North Eastern Development Initiative that also includes other regions such as Tana River, Lamu, West Pokot, Isiolo, Mandera, Samburu and Marsabit. Deputy President William Ruto who witnessed the signing of…
Listed company Car and General has entered into a partnership with KPMG, Advisory Services Limited to establish an integrity line system with the aim of promoting transparency between the company’s employees and customers. The hotline will encourage the company employees to speak up and report issues about misconduct, or practice that is contrary to the organization’s values and way of working. The agreement was reached and signed by the Car and General CEO, Vijay Gidoomal and KPMG Associate Director, Mark Bunyi. Through the partnership, KPMG will provide core services of handling all aspects of the day to day operation of…
The automative distributor, together with their SAP implementation partner, Britehouse, has been awarded a prestigious international prize for a digital transformation program that has overhauled performance at one of Saudi Arabia’s leading automotive distributors, improving efficiency and customer service across the business. The JSAP program, which went live in mid-2018, won the Gold Award for Business Transformation in the SAP Quality Awards, presented at a special ceremony in Heidelberg, Germany. The initiative – one of the biggest SAP projects ever undertaken in the automotive distribution sector – outcompeted entries from across Europe, the Middle East and Africa to become the…
The annual China Trade Week (CTW) Kenya conference, whose portfolio connects local businesses with Chinese firms, manufacturers, ICT providers and stakeholders, will run its 5th edition in two phases at the Kenyatta International Convention Center (KICC), Nairobi. Conference session one will take place on June 5th, while the second conference day two will kick off on June 10th 2019. This is the first time that CTW Kenya will organise parallel conference days to upgrade the format and create more added value for professional visitors. Much of the topics will cover trade financing, banking, the fourth industrial revolution, Impact of China’s…
The Kenya Revenue Authority (KRA) has signed a Transhipment Standard Operating Procedures (SOPs) charter with stakeholders at the port of Mombasa to enhance cargo clearance efficiency and boost regional trade. As part of a commitment to boost port operations and clear bottlenecks affecting efficient cargo movement, KRA has signed the Transhipment SOPs for the Port of Mombasa with the Kenya Ports Authority and the Kenya Shipping Agents Association. At the signing ceremony at the KPA Headquarters in Mombasa on in May, the KRA customs and border control commissioner, Mr Kevin Safari, accompanied by KPA general manager, operations Captain William Ruto, and…
The Kenya Revenue Authority has declared its intension to go for those who advertise and sell their products on social media including Facebook, Instagram, Whatsapp, Twitter and Telegram in a bid to seal loopholes of tax evasion. According to the agency, most of the online businesses are neither paying taxes nor filing annual returns. The trend, the tax collector warns, must change and the traders must file taxes that may include VAT, Excise Duty, Withholding Tax, PAYE, Corporate taxes and any other tax obligation required under the business they may be engaged in. KRA has failed to hit its targets…