A tier-one banking franchise, Diamond Trust Bank (DTB) is expected to strengthen its group executive and leadership structure by appointing a Kenya Country Chief Executive Officer (CEO) to enhance business growth in Kenya, Uganda, Tanzania, and Burundi. Mrs Nasim Devji, who holds the dual position of Group CEO as well as the CEO of DTB Kenya, said the strategic reorganisation, as approved by the Board, will strengthen the management structure and enhance the group’s plans to build a strong franchise in the region under her leadership. It is also part of the bank’s plan to acquire some 10 million customers across…
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The wealthiest in town looking to expand their private investment portfolios are splashing their cash on art, cars, watches, whisky, and furniture. According to Knight Frank real estate company backed “Wealth Report 2024”, a huge chunk of rich Kenyans with greater interest in art hit a substantial 70%, a significant increase compared to the previous year when the majority (50%) showed a penchant for purchasing classic cars. Art was also highlighted by the same report as the best-performing luxury asset class in 2023, experiencing an impressive 11 percent price increase. Besides art, some 57.14 percent of wealthy people focus on…
For nearly 20 years, Athanas Tuiyot was happy with his job as journalist and the bureau chief of a daily newspaper in Eldoret until his bosses decided to transfer him to Nairobi in 2006. He opted to quit. The new position would have allowed him only two days off, and he felt he could not effectively balance his family needs in Eldoret and professional obligations working in Nairobi, about 300 kilometres away. “My employer had only a provident fund, which was not adequate to take care of me in retirement,” he says. For 17 years in service, he received a…
By Ma Si, China Daily In 2014, a group of experts in smart manufacturing, each of them boasting around 15 years of work experience, gathered in a three-bedroom apartment in Beijing and decided to start up with Beijing Roborock Technology Co Ltd. What was extraordinary was their clear and simple ambition: to develop the world’s best robotic vacuum cleaner. Ten years on, their dream has come true. Roborock is a leading player in its sector and, in terms of global sales in 2023, the top-selling brand among smart vacuum cleaners worldwide, according to Euromonitor International, a market research firm. Its…
By RAPHAEL KIOKO Lyimmo Magani is one smart entrepreneur. After starting L’s Food Lab in 2019, he ran into difficulty and could not expand his business. Mr Magani approached several investors and financiers, but nothing positive came out of it besides negative feedback. Others never responded to his fundraising proposals. At this point he had to out think. For a man whose dream was to acquire a 15% market share, create more jobs, and impact society through charitable programs, it was not time to throw in the towel. He embarked on a journey that would sooner than later make his…
CIC Insurance Group said Tuesday, April 23, that customers will flawlessly purchase or renew motor insurance cover remotely thanks to its new digital monthly product dubbed “EasyBima”. The cover, which will allow customers to spread their comprehensive car insurance payments over 12 months, comes at a time when there’s increased interest in technology, with 2023, for example, seeing 17.86 million internet users registered in the country resulting to 32.7 percent internet penetration. Kenya is also home to 10.55 million social media users as at January 2023, equating to 19.3 per cent of the total population. “Digitisation is one of the…
Tourism and wildlife cabinet secretary Dr. Alfred Mutua has warned that the apparent stagnation of standards and quality of service in the hospitality sector will not augur well for tourism if ignored. The CS on Thursday, April 18, also embarked on a journey that would uncover the stark reality of neglect within the country’s premier hospitality training institution, Utalii College. He toured the college and hotel facilities, witnessing firsthand the state of disrepair and neglect that had befallen them. Leaking roofs adorned the once vibrant restaurants, toilets stood silent in their dysfunction, and an overall air of neglect hung heavily…
The Kenya Private Sector Alliance (KEPSA) has partnered with World Bank to launch a Carbon Market Guidebook amid efforts to provide step-by-step guidance for Kenyan enterprises in various industries including; agriculture, waste environment, forestry, trade, banking, insurance, manufacturing, energy, transportation, construction, and hospitality. According to Dr. John Wandaka, vice-chair of KEPSA environment, water and natural resources sector board, a guide to help navigate the complex and fast-evolving landscape of carbon markets is needed. “Carbon markets offer an alternative financing avenue that can empower enterprises struggling to access traditional climate finance,” he said. He added that funding constraints hindered the ability…
International Creators Day acknowledges contribution of “career digital creators” and their ability to inspire, entertain, and educate communities worldwide. Content monetization and career opportunities will be high on the agenda as Kenyan social media influencers, and public and private institutions join the global community to celebrate the International Creators Day on April 23. According to the International Creator Day Kenya Coordinator and the Kenya Social Media Awards (SOMA) Director, Mr. Martin Muli, the event will give creators, brands and industry service providers a platform to meet and interact through exhibitions and conference. The day will bring together the creator ecosystem…