BY BERNARD MATUMBAI Poverty-stricken Turkana County is basking in glory, with big dreams of newfound oil wealth marking the recently unveiled Early Oil Pilot Scheme, an experimental programme that aims at testing the global supply logistics as well as determining the price-point of the Turkana oil. Discovered in March 2012, it took close to seven years of controversy and sheer determination to extract the first barrels out of the oil fields. Variously described as a historic moment that would see the Kenyan economy bolstered by international oil trade, the recent flagging off of the early oil pilot scheme came against…
Author: NBM CORRESPONDENT
BY VICTOR ADAR In this era of social networking and powerful technologies, you can make money in more ways than one. In fact, you can create streams of income in a matter of minutes provided you choose a suitable investment vehicle. Try to picture buying stocks at low prices and then selling them once they hit a high. You can as well engage manufacturers directly and spend your cash on buying in bulk fast moving items like cooking oil, soaps, or hankies to supply to small retailers at promotional costs. Well, it is increasingly evident that many of us want…
Kenya Breweries Limited (KBL) has given the greenlight for the production of Senator Keg beer at the Kisumu Brewery after a successful test of the production process. It’s all systems go after the first Senator Keg pint was last month test-tasted at the Kisumu Brewery by the KBL top brass led by Managing Director Jane Karuku, marking a major milestone for the Sh15 billion investment. The test-tasting was performed exactly one year and five days since the refurbishment of the brewery was commissioned in July last year. “We have invested at least 900,000 man-hours to date. It marks a major…
BY NBM WRITER Experts and investors foresee a bullish second half of 2018 for the tourism sector after former US President Barack Obama visit. According to Bobby Kamani, managing director, Diani Reef Beach Resort and Spa, hotels are set to cash in on thriving domestic tourism especially from August which is the beginning of high season at the coast. However, the dividends of Obama’s visit will fully be realised in 2019. “In 2015, Pope Francis and President Barack Obama’s visit to Kenya was a great marketing story for international tourism into Kenya. The effects of this international interest in Kenya,…
BY DAVID WANJALA Even though the disruption brought about by technological revolution in the recent past has, more often than not, drilled the last nail in the coffin for many companies, ingenuity of some of the policy makers has ensured not only the survival of their entities but also their thriving. If there was ever a company in Kenya whose survival, leave alone thriving, in the wake of the recent rapid technological advancement, especially in communication, was never guaranteed, it was the Postal Corporation of Kenya. Contrary to those fears however, the corporation has waded through the formative stages of…
Luxury car maker, Porsche, sets new delivery record in the first half of 2018 with 130,598 vehicles distributed worldwide, exceeding the previous record set last year by 3%. With 20,500 units delivered to customers, the Panamera enjoyed the strongest percentage increase, almost doubling the figure from the same period of the previous year. At the same time, the Porsche 911 also saw double-digit growth with an increase of 28%, amounting to 21,400 vehicle deliveries. The highest-volume model series continue to be the Macan with 46,600 vehicles delivered and the Cayenne with 28,700 deliveries. “In the year of our ‘70 years…
Joshua Oigara, Kenya Commercial Bank’s group chief executive officer is now the new chairman of Kenya Bankers Association (KBA) governing council after being elected by members, ending the tenure of Lamin Manjang, Standard Chartered Bank CEO and area general manager for East Africa, who had held the position for the last two years. Not being a stranger in the banking sector, he is expected to use his extensive expertise and experience to lead the bankers association towards the right direction. With a Bachelor of Commerce degree from University of Nairobi and Master of Business Administration from Edith Cowan University as…
About 41 government-funded projects at various stages of completion, totalling Sh1.93 billion, are likely to stall owing to the drastic cuts in budgetary allocations to the fourth arm of Government, Chief Justice David Maraga has warned. The CJ also revealed in a statement to media on the state of the Judiciary, that there is an imminent expiry of the Judicial Performance Improvement Project (JPIP), the Sh11.5 billion World Bank loan facility through which many of the Judiciary’s projects have been funded. The institution requested Sh31.2 billion from the Government to support its operations for the current financial year. Out of…
BY VICTOR ADAR At the heart of security are various assumptions, the most glaring being that it is all about armed and strong guards standing in front of a gate. But this perception, especially coming from lay investors that security is about muscles, weapons and powerful guards, is making one Julius Delahaije disappointed. Two and a half years now at the helm of Security Group Africa (SGA) having taken over from the founder who passed away two years ago, Mr Delahaije is aware that competition is always at the heart of every business, and agrees that there has to be…
BY SADIE GOERING The U.S. Department of State’s African Women’s Entrepreneurship Programme (AWEP) is trying to unleash africa’s women entrepreneurs, especially those who are often denied business opportunities to the detriment of their families and communities. The initiative takes promising female entrepreneurs from sub-Saharan Africa to the United States each summer to learn American business strategies, advocacy and innovative techniques. Participants spend three weeks on a journey across America to network with entrepreneurs, policymakers, business incubators and others. The more than 200 women who’ve completed the program since 2010 have returned home to create thousands of jobs. The program “encourages…
