BY GILBERT NG’ANG’A Uganda’s announcement that it will ship early crude oil exports through the Port of Mombasa later this year was clearly a major diplomatic win for Nairobi. But beyond the signs of renewed diplomatic camaraderie between the two neighbours that accompanied the announcement is the harsh reality of the quick sand on which the ambitious joint East Africa infrastructure projects are built. Uganda has been flip-flopping on this decision for nearly a decade, changing her mind severally on which route makes business sense for her to bring in the petrodollars. Kampala had earlier indicated it would tap the…
Author: NBM CORRESPONDENT
BY DAVID ONJILI The World Bank and the International Monetary Fund (IMF) have recently been pushing the Kenyan government to shrink its payroll; this includes cleaning its payroll off ghost workers and trimming the workforce through a structured retrenchment – all this in a bid to enable government safeguard fiscal consolidation from recurrent expenditure to development. President Uhuru Kenyatta has his Machiavellian moment to implement for posterity an agenda that will cement his legacy. While his big four agenda (manufacturing, universal healthcare, affordable housing, and food security) takes precedent and makes headlines, there is an area in which he can…
BY VICTOR ADAR DT Dobie has once again put on the table fresh two new Volkswagen models, the new Volkswagen Tiguan SUV and Amarok pick up, in an effort to spur growth. It is expected that the comfort and safety features, the power and fuel efficiency of the new Volkswagens’ diesel engines will help to activate the market for once and make people buy in droves. The Tiguan for example, has a two litre turbo charged 143 horsepower engine coupled with a seven speed automatic transmission featuring what experts call “4Motion” permanent four wheel drive. The Amarok on the other…
The electronics firm, Samsung Electronics East Africa have opened an ultra-modern brand store at the Mirage Tower in Westlands in an effort to improve shoppers’ experience and expand its retail network. According to head of consumer electronics Samuel Odhiambo, the fresh store will only stock consumer electronics and is expected to give consumers a chance to explore the new innovations in consumer electronics, which Samsung is driving. It is a move that will consequently help in showcasing the firm’s product portfolio which includes air conditioners, QLED TVs, twin cooling refrigerators, washing machines, microwave ovens and its recently introduced HotBlast™ technology which brings a…
The e-health platform in Kenya, MYDAWA, has partnered with Sanlam General Insurance to provide its medical cover policy holders with access to quality, convenient and affordable healthcare products on its portal. The partnership, which is the first of its kind in the region, is highly beneficial to the insurer, as it will lead to significant savings as the MYDAWA e-health solution removes fraudulent and illegitimate claims that have been an issue for the health insurance industry and contributing to the losses to date. This will create an opportunity for growth that will facilitate for both higher profitability and stronger customer…
JLL’s annual East Africa Hotel Market Overview has given the latest update on the trends in the hotel sector of one of the highest growth regions in Africa. The report says that following a peak in the economic and hotel demand cycle in 2014, supply growth in East Africa has been at an unprecedented high level over the past three years. The entrance of many global hotel operators has resulted in supply outpacing demand in many markets. The report highlights that the market is turning, and a shrinking development pipeline will see hotel performance begin to improve. The report highlights hotel performance…
Jubilee Insurance, one of the leading insurance companies in East Africa, has recently decided to bet on technology by introducing three mobile apps into the market. The apps, which include JubiCare App, JubiAgent Medical App and JubiAgent Motor App, are going to be helpful to both clients and agents as they allows them to have access services through their mobile phones. According to Dr. Julius Kipng’etich, regional CEO of Jubilee Holdings, the new apps will be playing a major role in integrating insurance as necessary part of the customer’s lives. “Customers are now looking for services that can be initiated…
BY JOSEPHINE WAWIRA Defined as browser-based Internet services accessed from handheld mobile devices such as smartphones or feature phones; through a mobile or other wireless network, mobile web traffic continues to rise globally. It is largely driven by faster Internet speeds, availability of multiple mobile applications, as well as feature-rich devices. Kenya in 2017 had a mobile subscription rate of 41 million (+3%), surpassing the 40 million mark. The mobile penetration now standing prominently at 90.4% of the adult population according to a recent Mobile Report by Jumia, has been highly driven by the arrival of aggressive entrants into the market, consequently driving moderate reductions in…
Stanbic Bank Kenya has launched an automated online platform known as e-Biller that will enable businesses to process invoices and generate payment instructions. The online platform is the first of its kind in the country and according to the bank, it is suited for businesses across all industries especially those that handle massive volumes of payments. The introduction of the platform also does away with the strenuous manual paper based reconciliation that firms have to constantly go through. Instead, it streamlines the process of billing, reconciliation and payment thus accelerating the once laborious process. According to the Chief Executive of…
Stella Kilonzo, who is no stranger at the high table, has been appointed the senior director of Africa Investment Forum at the African Development Bank (AfDB). Kilonzo has been at the bank since late 2013 and has previously held the position of division manager at the capital markets division of the bank. Starting her new role, she brings with her 17 years of experience and expertise in the financial sector. She has a good track record in matters concerning capital markets, risk management, development finance, investments structuring, corporate finance advisory and accounting. Her brilliance in the finance sector is evident…