After making different reforms over the recent years, for example the introduction of the interest rate cap, Kenya’s financial market has finally been acknowdeleged for its works after it was ranked position 5 out of 17 other African countries by the Africa financial markets index. The index, which is done by Barclays Africa and the Official Monetary and Financial Institutions Forum, (OMFIF) ranked South Africa as the country with the best financial market as it had a score of 92%. It was followed respectively by Mauritius 66%, Botswana 65%, Namibia 62% and then Kenya, which had a total of 59%.…
Author: NBM CORRESPONDENT
Last year, Kenya’s tourism sector reported a growth despite the political storm that hit the country in the last months. Now moving forward into 2018, things seem to be getting even better for the sector after the world’s largest travel site, TripAdvisor, named Nairobi among the top three cities around the world in its TripAdvisor’s Annual Travellers’ Choice Destinations on the Rise 2018 edition list. Nairobi came in position three after Ishigaki, Japan and Kapaa, Hawaii, which took position one and two respectively. The rest of the top five include Halifax, Canada and Gdansk in Poland. This saw Nairobi ranked…
Azuri Technologies, a leading provider of PayGo solar products and services across sub-Saharan Africa, has announced the launch of its innovative Sh2 billion off-balance-sheet debt-financing program to provide working capital for the expansion of off-grid energy and service provision in East Africa. Announcing the deal at the Global Off-Grid Lighting Association (GOOGLA) conference in Hong Kong last month, Azuri’s CEO, Simon Bransfield-Garth said the program will be deployed in phases in the course of 2018. The first phase of Sh400million to be deployed in Kenya, has already been concluded and will provide additional financing to enable Azuri supply its PayGo solar systems, including…
The Government has decided to change its market regulations by giving the Nairobi Securities Exchange (NSE) a go ahead to introduce short selling in the market. This is aimed at boosting liquidity and diversifying the bourse’s services in a bid to attract more investors. Short selling or shorting refers to the sale of a security, which is not owned by the seller at the time of the transaction but rather is borrowed or rented, only to be bought back by the seller at later time in order to repay the lender. The activity is motivated by the belief that the…
Kenyans now have a chance to take control of their power bills by adopting a solar grid-tied electrical system and harnessing the power of the sun. The innovation by Kenya’s leading water and energy solutions company Davis & Shirtliff is designed to help users who adopt it reduce their electricity overheads. With the fluctuating power bills for not only households but offices and industries as well, the solar grid-tied electrical system that is semi-autonomous in design will ensure users save on power by taking advantage of the sun when it is available. “The main benefit of this system is the…
The 2018 Global Talent Competitiveness Index (GTCI) report has found that Switzerland still leads the way in terms of talent competitiveness, followed by Singapore and the United States. In general, European countries continue to dominate the GTCI rankings, with 15 in the top 25. This year’s edition also revealed that the top ten countries have several key characteristics in common and share one major feature: they all have a well-developed educational system providing the social and collaboration skills needed for employability in today’s labour market. On further examination, there are several other characteristics in common between the top-ranking countries: A flexible regulatory and business…
Guangzhou Automobile Company (GAC Motor), one of the top five biggest Chinese automobile manufacturers, has secured the exclusive rights for the flagship FORBES AFRICA television show, My Worst Day with Peace Hyde. The partnership comes after the successful launch of the first season, which profiled some of the leading business moguls including Aliko Dangote, Folorunsho Alakija, Tonye Cole, Herman Mashaba, Emir Sanusi Lamido Sanusi among many others. “We are very pleased to have this new partnership with GAC Motor. The show has one of the highest viewerships on the Pan-African business channel, CNBC Africa and has set the benchmark as the…
Global cybersecurity services provider, ESET, has warned that the ransomware menace is likely to continue in to 2018 with further growth in incidents and risks following an increase in, and sophistication of, cybersecurity incidents in 2017. According to a 2018 cybersecurity trends report named “Cybersecurity Trends 2018: The cost of connected world”, released last month by security experts at ESET, many companies are still prepared to spend large sums in ransom payment as opposed to investing in their cyber defenses. The report focuses on ransomware, attacks on critical infrastructure, malware and combating criminal activity, as well as the cyber…
The President of the African Development Bank Akinwumi Adesina, has made a compelling case for accelerating Africa’s industrialization in order to create jobs, reduce poverty and promote inclusive economic growth. Citing data from the Bank’s 2018 African Economic Outlook launched in Abidjan, Côte d’Ivoire, last month, Adesina said infrastructure projects were among the most profitable investments any society can make as they “significantly contribute to, propel, and sustain a country’s economic growth. Infrastructure, when well managed, provides the financial resources to do everything else.” Noting that economic diversification is key to resolving many of the continent’s difficulties, he urged African governments to…
By David Wanjala Traffic congestion in Nairobi City costs the economy upward of Sh37 billion annually according to an interim report by Nairobi County’s Transport and Urban Decongestion committee of 2014. The report attributed this to poor planning of the city, which did not factor in a steady increase in population and vehicles on the road. But the effects of long, unending traffic jams are not only felt in terms of the GDP. Think about a lactating mother who has to be up by 4:30am so as to leave for the city from Kitengela, Rongai or Ruai by 5:15am, to…