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…
Author: NBM CORRESPONDENT
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…
Circulars issued by the energy regulator on April 19 and May 19 on jet fuel providers have created unprecedented confusion among major stakeholders in the aviation industry especially as regards their intended objectives and implementation. The circulars say in part that all traders of jet fuel are required to adhere to regulations that are applicable to full fledged Oil Marketing Companies (OMC). It is obvious, however, and market sources confirm that indeed the target of the regulator is foreign and local intermediaries who fall neither under the definition of OMC nor traders. If the new circulars are implemented, it will…
A few days ago, the Kenya Bankers Association, released the latest House Price Index (HPI) of the 1st Q of 2019. This report marks clearly the declining trend that the housing market has been experiencing over the last two years in the most incontrovertible and uncontested way, a negative growth of 2.78% marking the weakness of the sector. According to the Kenya Bankers Association the rate of growth in house prices sunk to a five- year low of 2.78 per cent in the first quarter of the year due to constrained credit flows to both the supply and demand side.…