KenGen has ended a two-year dry spell to declare a dividend of Sh0.40 per share for the financial year ending June 30, 2018. Profit Before Tax improved by 2% to Sh11.75b from Sh11.46b realising over a similar period last year attributable to increased generation revenue and steam sales. Profit After Tax reduced by 12% to Sh7.89 billion from Sh9 billion in 2017. During the year under review, the company commissioned the Olkaria 280MW realising capital allowance for which tax credits were realised in the last financial year. Tax expense for the year was Sh3.855 billion compared to Sh2.455 billion the…
Author: NBM CORRESPONDENT
Focus Softnet, a software development and enterprise applications provider, has launched its next-generation ERP solution – Focus 9, powered by Pronghorn server – the company’s feature-rich proprietary design built with in-memory computing capabilities for lightning speed transactions, in the Middle East and Africa region. Built to, Focus 9 supports organizations to transform business values with advanced analytics and real-time insights. Focus 9 is built on the next-generation in-memory computing technology and other upgraded features to amplify speed and efficiency of operations, forming a strong connection between the enterprise and its workforce, business networks, and departments. The ERP’s modular structure lets…
A global payments technology company, Visa Inc., has appointed Marianne Mwaniki as its senior vice president of social impact. Ms Mwaniki will lead the Visa Foundation, which was established in 2017 to build on the firm’s long history of corporate giving and to accelerate the delivery of the company’s social impact goals by helping small and micro-enterprises thrive. Actually, she will be responsible for the company’s comprehensive strategy in terms of corporate social responsibility, corporate giving programs, financial inclusion and financial literacy. With more than 20 years of experience working in the banking sector across the world, she is expected to…
A major new report published by Centre for Agriculture and Bioscience International (CABI)last month revealed that losses due to fall armyworm are lower than projected in 2017 and the pest is still primarily focused on maize rather than any other potential host crops. Better monitoring, swift responses by governments and farmers and an increase of natural enemies attacking the pest all help in mitigating the devastating crop losses it can cause CABI, a not-for-profit inter-governmental development and information organisation focusing primarily on agricultural and environmental issues in the developing world says. In the report, funded by the UK Department for International…
Samsung Electronics, the South Korean multinational electronics company, has opened an interactive store with 700sq feet at the Two Rivers Mall. The new shop is the largest Samsung Experience Store in Africa. According to Sung Yoon, President and CEO of Samsung Electronics Africa, the new store was going in line with the firm’s strategy, which is to realign its business operations in Africa for greater efficiency in the sales and marketing roles with a focus on the consumer experience. “We remain committed to delivering quality products and technological solutions to our consumers in an accessible manner. Customers have expectations and…
Held annually in September alongside the opening session of the United Nations General Assembly, Social Good summit that aims at uniting global citizens and progressive thought leaders around a common theme, #2030NOW, aspires to provide the solutions to the challenges touching on global goals. Organised by the Kijiji in partnership with UNDP Kenya, Alliance Francaise and Unreasonable East Africa, this year’s summit kicked off a series of talks on the status of the Sustainable Development Goals (SDGs) in Kenya by highlighting the 17th Goal that’s expected to “revitalize the global partnership for sustainable development and its potential to fulfil the…
Creative sparks flew from the moment Jessika met the Tanzanian research assistant assigned to help her with her PhD about the Maasai people. Jessika Nilsson, who spent much of her childhood in Tanzania, and Loserian Laizer, a Maasai elder, quickly formed a friendship that would evolve over time into a business partnership designed to spread the economic benefits of safari tourism. “Loserian had been in tourism for almost 20 years as a ranger and as a tourist guide when we met. We were together all the time doing research for my PhD. We met so many tourists and people in…
DISCOP Markets, the largest and most reputable content markets across the African continent, is excited to announce a brand new service and innovation in response to the needs of both buyers and sellers of content from Africa and the Middle East. As a way to boost interaction between buyers and sellers before, during, and in-between the four annual DISCOP Markets, DISCOP CLUB is a digital interface and customized service tailor-made for buyers who now can enjoy the ease of having a digital catalogue featuring relevant information and videos for each property offered by DISCOP registered vendors. Registered buyers can also screen full-length versions or…
With the potential of wind as a better way to reduce costs of power in modern times acknowledged, experts say there are important things Kenyans need to know. According to the Lake Turkana Wind Power’s (LTWP) director Rizwan Fazal, the current negative narrative around the cost of energy will only change once all their 365 turbines start to supply power to the grid. By October 9, Mr Fazal points out, there were 225 wind turbines, and the company generated 147 MW thanks to 187 turbines running by end of October. While at a media briefing on the progress of the…
The Nairobi Securities Exchange (NSE) has struggled to attract new listings, having only raised Sh4.2b in two initial public offers (IPO’s) in the last 5-years, with one each in 2014 and 2015 by NSE and Stanlib Investments, respectively. Currently the bourse has 64 listed stocks with a total market capitalization of Sh2.16tn, of which Safaricom controls 44.0% market share. The Capital Markets Authority (CMA) has raised concerns that Kenya has been unable to achieve its projected listings targets as articulated in its Capital Markets Master Plan, which envisions at least four listings on the NSE every year. CMA has also noted that…