Total Kenya has entered an agreement with Alfa Romeo for the provision of the inspection ramp for the CBA Africa Concours d’Elegance, which has organised the annual event for the past 48 years. The agreement also covers supplying environment mats for the assessment of the 40 motorcycles, which will contest the classiest event on the Kenyan motorsports calendar on September 30th at the Nairobi racecourse. The Concours d’Elegance has Africa continental status for cars and motorcycles and has been recognised and sanctioned by the FIM Africa since 2006. Speaking at the ceremony marking the completion of the agreement Francois–Xavier Ruenes,…
Author: NBM CORRESPONDENT
Kenya will be doubling its current shareholding investment in the pan-African infrastructure investment platform, Africa50, to Sh10 billion ($100 million), President Kenya has said. The President was speaking at the Africa50’s third general shareholders meeting in Nairobi where said that the move to increase its investment was justified and the support for bankable projects was needed to drive Africa’s growth. “The private sector must step up and help us close the infrastructure gap on the African continent. Public funding is limited, and there are competing priorities,” he said. Akinwumi Adesina, chairman of the Africa50 board as well as the president…
Unplanned drilling of boreholes to deal with water shortage could affect the ground water resources in the country in the long-term, leading water and energy solutions company, Davis & Shirtliff has warned. The company has said indifference to the legislation that governs drilling of boreholes could ultimately have adverse effects on the aquifers and the quality of water in them. It is time, Davis & Shirtliff chief executive officer David Gatende says, Kenya sought ways to protect her surface and underground water resources effectively, sighting instances where people are drilling boreholes within few meters of each other yet the law…
The 2018 Tax Justice Network’s Financial Secrecy Index (FSI) has ranked Kenya as not only the top financial secrecy jurisdiction in East Africa but in the whole of Africa as well. According to Tax Justice Network, financial secrecy refers to a situation where an entity refuses to share financial information with legitimate authorities such as revenue, security, and so on. This means that Kenya is among the countries where the rich can hide their money, pay fewer taxes and have limited supervision from the authorities. Kenya was given a secrecy score of 80.05%, which led it to be ranked 27th…
So far, 2018 has been an excellent year for Kenyan start-ups as according to a report by Weetracker, a research and publishing firm, out of the 10 companies to receive the highest amount of capital in Africa, 5 were from Kenya. The first half of 2018 saw an influx of Sh16.9 billion ($168.6 million) being spread across 120 deals into African start-ups. The record saw a massive increase compared to 2017 where the annual funding mark stood at Sh16.8 billion ($167.7 million). The top 10 list included the following firms; Cellulant, Branch, M-Kopa solar, Africa’s talking, We-farm, SureRemit, Swvl, Lidya,…
Telkom Kenya has signed an agreement with Loon LLC, a subsidiary of US tech firm Alphabet to pilot a new high-speed Internet access network in Kenya. The new network service will be Loon’s first commercial service in Africa. The Loon service is an innovative approach to providing extended 4G/LTE coverage to rural and suburban areas with lower population densities, using high altitude balloons operating 20km (60,000 feet) above sea level, well above air traffic, wildlife, and weather events. The balloons act as cell towers that transmit service directly to the user’s phone. The service supports data speeds that are up to 10…
OPPO Mobile has entered into a partnership with Lipa Later, a credit offering company to allow customers to purchase OPPO devices by instalment as it aims to increase the sales and stump foot in the Kenyan market. The payment plan will allow customers to enjoy a 3.5% interest rate on purchase of OPPO F7, a drop from the initial 4%. According to Jesse Wu, brand manager, OPPO Kenya, the new arrangement will have a great impact on OPPO F7 and all OPPO devices sales that currently is performing well in the market because of the quality and uniqueness of the device. “Since…
To meet the demand for genuine spares for Mercedes Benz cars and trucks, Volkswagen cars and light commercial vehicles and Hyundai trucks DT Dobie has opened an easily accessible Auto Shop fronting Lusaka Road in the Nairobi industrial area. “We have invested in this additional outlet in response to requests from customers for an easy to reach source of replacement parts which is open from Monday through to Saturday. On weekdays the Auto Shop operates from 8:00 a.m. to 5:30 p.m. and the opening hours on Saturday are from 9:00 a.m. to 3:00 p.m.,” said Kennedy Munyao, DT Dobie parts…
Bismart, a Kenyan start-up insurance aggregator, has entered into an agreement with GreenTec Capital, a German long term impact investor, to enable the start up upscale its digital and online platforms so as to connect customers to insurance and investment solutions that are available in Africa. According to Eunice Maina, CEO Bismart Insurance, Bismart has a vision to help customers by giving them a friendly, transparent and convenient way of accessing the insurance and investment services. “By using emerging technologies to address the issues of financing and transparency in insurance, Bismart aims to empower the customer to be financially independent,…
By David Wanjala Over the years, Kenya has enjoyed the title ‘king of East Africa’, which has helped the country grow as it attracts more and more investors compared to its neighbours. The title saw Kenya chosen over Tanzania, Uganda, Rwanda and Ethiopia whenever international institutions and multinational organizations looked to host important conferences in the region. However, recently this has changed as the economies of Rwanda and Ethiopia have sustained an upward trend placing them among the fastest growing economies in the whole of Africa. As a result, this has seen Ethiopia overtake Kenya and become the new king…
