Imperial Bank depositors have written to the Central Bank of Kenya with a list of demands they want met in a bid to recover billions lost after the bank’s 2015 closure by the CBK. The depositors want Central Bank of Kenya held legally responsible for the collapse of mid-tier lender, Imperial Bank Limited. MMC Africa Law, which is instituting a class action on behalf of Imperial Bank depositors, gave the commercial banks’ regulator a 14-day notice last month to admit liability and furnish it with crucial documents that show CBK’s lapse in supervising the lender’s operations and depositors’ funds held…
Author: NBM CORRESPONDENT
By simply dialing *209#, investors can now directly buy and sell shares on the Nairobi Securities Exchange (NSE) in addition to accessing real-time market information thanks to a new self-service platform dubbed “M-Shares”. Accessible on USSD, thus availing it to a wider pool of investors with a phone, the mobile platform has opened a new and convenient investment opportunity for all Kenyans. Philip Odera, CEO, Stanbic Bank, said the groundbreaking platform will effectively remove barriers that previously stood in the way of investors interested in the NSE, and continues a journey to drive financial inclusion through enhanced access to capital…
Virscom, a Kenyan based company that mostly deals with technology, has entered the taxi sector by launching a new taxi hailing app, ShareCab. The new application is expected to charge drivers a flat rate membership rate of Sh2, 000 per month as compared to the other taxi hailing applications that charge through commissions. ShareCab is taking a different direction from the other taxi services as it focuses on the drivers more. With the drivers paying a flat fee, it means that they will be able to earn more. In addition, the company has not forgotten about the riders either as…
BY ANTONY MUTUNGA “Don’t look for the needle in the haystack. Just buy the haystack!” – John C. Bugle, founder of Vanguard Group Over the years, a lot has changed in the way people thought about investing. Investors in the past mostly depended on professional stock pickers to select stocks that were worthy to invest in. However, things have changed as people have been given the option of investing in all of the stock in the market. This was all possible thanks to John Clifton ‘Jack’ Bogle. In 1975, inspired by the works of Paul Samuelson in 1974, Charles Ellis…
Colgate-Palmolive has partnered with the Kenyan Dental Association to drive oral health message and ensure Kenyans have access to the right information and tools as part of the ongoing platform of dental check-ups. Themed “Keep Kenya Smiling”, Colgate aims to encourage Kenyans to brush their teeth twice a day because everyone deserves a future to smile about. Cheslin Twigg, Professional Relations Manager at Colgate-Palmolive East West Africa, said that based on the latest data from the World Health Organisation, there is approximately 1 dentist per 42,000 Kenyans, meaning many individuals have not had an experience with a dentist. “Those who…
After recently opening up its Nairobi Regional Office, Bechtel International Inc, one of the most respected global engineering, construction, and project management companies, is already hitting the spotlight, after being selected by the Kenyan National Highways Authority (KeNHA) to build Kenya’s first high-speed expressway at a cost of Sh230 billion. The expressway is going to link the port city of Mombasa to the capital city, Nairobi. The 473-kilometre expressway is expected to improve the efficiency, connectivity and safety of road transport between Nairobi and the main seaport of the country. This is expected to reduce the journey time between the…
BY PETER WANYONYI Last month, this column made the case for the new Nairobi County administration to move Nairobi towards Smart City status. As noted then, a smart city is one that integrates information technology into its service provision. But after the snazzy presentations and fast-talking are done, a city – smart or dumb – has to get back to providing basic services to its residents. In the case of Nairobi, this begins with one of our most important service, one which just happens to be the most neglected, with the results of that neglect everywhere to be seen in…
By David Wanjala The vibe in social, official and indeed all spheres for Kenyans is that everything is on hold until after elections. You will hear time and again, be it at place of work, your local pub or aboard public service vehicle to or from work a colleague or friend quip that his plans to finish off the house they have been building for the last four or so years, or to enroll for the masters degree programme, to buy a piece of land are on hold until after elections. It could be said in jest, but trust you…
BY NEIL HERBERT With analysts estimating that up to 80 billion devices and sensors will be in the market by 2020, the need for real-time processing and analytics has escalated as companies work to realise the up to $8.9 trillion (Sh908 trillion) in additional revenue predicted to be unlocked by Internet of Things (IoT). This is also leading to the development of more than 200,000 new apps and services as companies aim to take advantage of the potential benefits of the Fourth Industrial Revolution by exploring new business models, optimisations, and revenue streams. However, business leaders are quickly learning that…
By NBM writer Let’s start with you… My name is Towett Ngetich. I am a true son of the soil. I am 22 and the CEO Udhabiti Healthcare Tell us something about your background. I was born and raised in Nairobi although Kericho is where I call home. My mother was a Public Servant, which meant we moved around a lot, from Nairobi, Nakuru, Kericho, even Vihiga and Kakamega. We are a small family of three, two siblings of a single mum. What of your education? I sat for my KCPE at Kericho Primary before joining (The) Duke of York…