The Privatisation Authority said in a statement on Monday, June 14, it was reviewing its strategic plan of 2023 to 2028 to achieve its mandate of among others implementing the Privatisation Programme, advising the government on privatisation matters, and facilitating the implementation of government policies on privatisation. Formerly called Privatisation Commission, the agency has also unveiled a new brand identity, including a logo, as part of efforts to enhance its corporate image while also aligning it with the Privatisation Act 2023, which was enacted in October 2023. The Act, among other things, established the Privatisation Authority in place of the…
Author: NBM CORRESPONDENT
French hospitality group, Accor, officially opened its Pullman Hotel Nairobi Upper Hill on Thursday, June 20, after a one-month renovation work that has seen the new establishment burst with immersive art and design, from local art in the lobby to comfort, interactive environment, and convenience. The hotel’s entry into the Kenyan market signals an era of “well-balanced hospitality”, or so, it seems as it is one that will attract discerning travellers and professionals while bolstering the country’s tourism sector. Speaking during the launch, Principal Secretary (PS), State Department for Tourism, John Lekakeny Ololtuaa, said the government is working with players…
The Finance Bill, 2024, has passed the second reading stage after 204 Members of Parliament (MPs) voted “yes” against 115 who rejected it, as people protested across the country against plans by the government to raise additional taxes. It now moves to the second stage, committee stage where any proposed amendments to it are considered and a vote is taken on each. The Committee, which is comprised of the whole membership of the National Assembly, proceeds to approve clauses with or without amendments before a report is sent to the House seeking approval. “The matter of the Finance Bill are…
Early Tuesday, June 18, the President chaired a meeting of the ruling Kenya Kwanza Parliamentary Group (PG) at State House, Nairobi, ahead of the tabling of the Finance Bill, 2024 in the National Assembly. By 11am, the PG held a press conference — led by Leader of Majority in the National Assembly, Kikuyu Constituency MP Kimani Ichungwa — and the National Assembly’s Chair of Budget Committee, Molo Constituency’s Kimani Kuria. The Budget Committee chair — Molo MP Kuria Kimani — informed the country that citizens’ demands had resulted in the removal of excise duty on bread and cooking oil, the…
Family bank’s new board chair Francis Gitau Mungai died on Tuesday, June 17, while receiving treatment in United States just three weeks after he was picked to replace the retiring long-serving Wilfred Kiboro. Mungai, a holder of a Master’s Degree in Architecture from the University of California, Los Angeles (UCLA) and a Bachelor of Architecture degree with First-Class Honours from the University of Nairobi, joined the board of Family Bank Limited in 2016 and has been serving as the Vice Chairman for the last two years before his recent appointment as chairman. > Kiboro retires as Family Bank chairman; insider…
Nova Pioneer Tatu City School has been named as one of the top 10 finalists in the innovation category of “World’s Best School Prizes” education awards and will square it out for the top honours with other schools from the United Kingdom, Brazil, Italy, and Australia, among other regions. The Kenyan academic institution has been picked alongside the Kakenya Center for Excellence, a government-funded primary boarding school for girls near Kilgoris in Narok County to. Kakenya has been nominated for the “Community Collaboration” award. “This nomination is a testament to the school community’s sheer hard work as part of a…
The price of petrol has reduced by Sh3, diesel by Sh6.08 per litre and that of kerosene by Sh5.71 per litre thanks to reduced landed cost charges of imported fuels between April and May this year, Energy and Petroleum Regulatory Authority (EPRA) said in a statement shared on Friday, June 14. EPRA said the lower prices will run from June 15 to July 14, 2024 and will see super petrol, diesel and kerosene (in Nairobi) retail at Sh189.84, Sh173.10 and Sh163.05, respectively, for the next 30 days. Consumers in Mombasa will pay a maximum of Sh186.66, Sh169.93 and Sh160 for…
Family Bank shareholders have approved establishment of a non-operating holding company that will hold shares in Family Bank Kenya and other non-banking subsidiaries ahead of expansion plans. The lender’s chief executive Nancy Njau, said regional expansion remains a focus for the bank in supporting its business growth and expansion strategy. “We are exploring the possibility of expanding our footprint to countries within the East, West and Central African region,” Ms Njau said. “This non-operating holding company will allow for capital efficiency, risk management and establishment of separate governance structures for both banking and our non- banking subsidiaries.” The approval comes…
USAID and BrighterMonday backed “e-Biz Kwa Vijana” project, an e-commerce development initiative launched in 2023, has closed its first phase, with at least 2,000 young entrepreneurs and Micro, Small and Medium Enterprises (MSMEs) having benefited from free digital skills and E-commerce training. The initiative, executed through e-Trade Alliance, has also on-boarded 632 MSMEs onto various e-commerce platforms to help them venture into the next phase of their business growth and opportunity journey. It is designed to train up-to 1,000 young entrepreneurs aged between 18-35 years, in leveraging online trading and digital platforms also covered women entrepreneurs and people with disabilities.…
By Tony O. Elumelu The philosophy of Africapitalism — which entails a visionary approach to economic empowerment, driven by the belief that the private sector has a critical role to play in advancing Africa’s development agenda – is one that has potential to offer the continent value. In a nutshell, Africapitalism could unlock Africa’s vast potential while empowering its people to thrive and prosper. Here are three critical areas that need attention and collective action for the continent to be on the right path to sustainable development. Entrepreneurship and job creation: The role of entrepreneurship in fostering global food security…