The grace period for the Solar Water Heating Regulations 2012 lapsed last month. Under the new law, all premises within the jurisdiction of a local authority with hot water requirements of a capacity exceeding one hundred litres per day are required to install and use solar heating systems within a period of five years from May, 2012, which is when the regulations came into force. “Those who will not have complied risk being slapped with a fine of up to Sh1 million or an imprisonment term of up to one year or both,’’ said Jacqueline Wangui, Partner at MMC Africa…
Author: NBM CORRESPONDENT
Funguo Investments Limited (‘FIL’) is planning to raise fresh capital to expand and diversify its investment portfolio. FIL chief executive officer Kenneth Muchina has said the company is also exploring managed funds and co-investment programs as additional means of mobilizing capital to fund its investment programs. Funguo targets the mid-market with a ‘sweet spot’ in investment of Sh100 million, but will consider larger or smaller investment amounts. The investment firm invests in a mix of early stage and established but growing businesses. “Expect Funguo to come to the market with announcements of new investments in exciting businesses in diverse sectors.…
Huawei technologies, one of the leading global information and communications technology (ICT) solutions provider, has recently entered the internet market by introducing its own cost effective broadband solution with the aim of providing affordable internet to areas without access to fibre optic. The new broadband solution, which is referred to as WTTx (Wireless to the X) is based on the 4.5G wireless broadband technology that allows speeds of up to one gigabyte per second (1GB/s). This will not only improve spectrum efficiency but it will also enable the user to have an experience similar to one experienced when using fibre.…
Traders now stand to benefit from increased efficiency following launch of the Information for Trade in Kenya web portal which has consolidated more than 120 documents and procedures required for import and export business on one online platform. The portal is estimated to serve at least 1.5 million users per month and consolidates 73 documents under exports, 52 under imports and one under transits (cross border trade) thus ensuring a shorter period in the export and import processes. Completion and launch of the information portal makes Kenya the first country in the East Africa Community (EAC) to fulfil Article 1…
Kenya Power Limited recently launched a new integrated customer management that aims at improving customer convenience. In a statement, the power company states that the system is state of the art, versatile with robust web-based applications aimed at enhancing customer service and experience, by improving service delivery. As a result of upgrading the customer management system, the company has started changing account numbers of all its customers in order for them to enjoy the services of the new system. Customers in four counties; Nairobi, Kajiado, Machakos and Makueni have already had their account numbers changed. In the rest of the…
CapitalWorks, one of Africa’s largest private equity firms has finally completed its acquisition of Aon’s plc shareholding across certain sub-Saharan operations, which was announced during the first quarter of 2017. The acquisition also saw the insurance broker change its name to Minet Africa. Joe Onsando, Chief Executive Officer of Minet Africa said, “In February 2017, Aon plc announced its decision to change the ownership structure of its operations across several sub-Saharan countries. The various conditions have now been fulfilled and effective November 2017, Aon’s African operations was transferred to CapitalWorks.” The transaction will affect 10 countries whereby the regulations required…
Facebook has announced a new nationwide initiative in Nigeria to further cement its commitment and investment in the country, and across the continent. Incorporating a series of high profile partnerships, training programmes and a physical space that will serve as a center for learning and skills development, this set of initiatives is aimed at helping to develop and nurture communities, including small businesses, the tech and start-up ecosystem, youths and creatives. “In Nigeria, more than 22 million people use Facebook every month and 87% of SMEs say that when they hire, digital skills are more important than where an applicant went to school. This demonstrates that the power of…
By David Wanjala 2018 is almost here and most Kenyans, especially the business owners, will tell you that the journey through 2017 has not been easy. And after a protracted electioneering period that was marred with legal battles, violence, and tension, they will tell you that all they want is some sort of normalcy. The year has not been an easy one for individuals who run businesses as ordinary as selling second hand wares and retail shops. The prospects of some of these small businesses are dimmed, as many of them are now not doing as well as they should.…
BY DAVID ONJILI K’Frys Fedha, a medium sized fast food joint in Embakasi’s Fedha estate, employing close to fifteen individuals, has been closed since February this year. Haltons Chemist, just opposite it, was closed in January 2017 rendering 3 staff jobless. Jacknice Supermarket ,a few meters towards Nyayo Estate, has empty shelves and the owner had to lay off six other staff in a cost cutting measure. Mary, a banker who had taken a Sh300, 000 bank loan to start a milk ATM, closed hers after six months of operation while a Mr Mugambi who has a new flat just…
BY ANTONY MUTUNGA Before the August 8 elections, the Kenyan economy was already experiencing a slowdown. Even though most global institutions were predicting the economy would grow, the story was much different on the streets. Kenyans were not experiencing the positive change in the economy as predicted. On the contrary, they felt things were only becoming worse. High cost of living, an increase in job layoffs and, worse off, the collapse of several firms around the country left many doubts on whether the economy was truly growing as publicised. It is true that the government launched several infrastructural projects including…