Amsons Group, Tanzania’s manufacturing and energy giant, is looking to spend Sh23.2 billion ($180 million) on acquiring up to a 100% stake in Kenya’s Bamburi Cement PLC in what is likely to be a historical record investment ticket in the East African Community (EAC) Trade relations. The proposed investment will not only cement a Tanzanian company’s place as one of East Africa’s largest takeover deals but also promises substantial growth potential for Kenya through the potential foreign direct investment that would be realized from the deal. Amsons Group, through its Kenyan subsidiary and investment vehicle, Amsons Industries (K) Ltd, has…
Author: NBM CORRESPONDENT
Some Mombasa residents who took part in a public participation exercise to share views on the proposed transfer of Amboseli National Park, a national natural resource to the county government of Kajiado have opposed the move. The residents said the transfer would spur discrimination against other communities who reside in places with limited resources and depend on the national revenue for services. Speaking in Mombasa Joshua Muthoka said the management of the park may not be seamless and will be interrupted by the change of Governors after every five years to which some employ staff on favoritism. “This is a…
Trans Nzoia County Government has taken over full ownership and management of Kitale National Museum from the National Government. While confirming the transition, County Executive Committee Member (CECM) for Gender, Youth, Sports, Culture, and Tourism Stanley Kirui, said the move was long overdue. Mr Kirui added that under local management, interests of the people of Trans Nzoia who enjoy diverse cultural backgrounds will be served. It would also help promote cultural preservation for posterity. Following formalization of the transition process, Kirui stated the county will immediately embark on upgrading of the museum, which opened its doors in 1924, to the…
Kenya Power (KP) said on Wednesday, July 3, it has updated two million prepaid meters in the past three weeks as part of a “Update Token Meter Yako” campaign that kicked off in mid-June. The initiative, which is free for customers, aims to update the software of 7.4 million prepaid meters to ensure uninterrupted access to electricity. “The numbers are encouraging and we are happy to note that our customers have taken the call to update their meters seriously. We are almost at 30% of the targeted meters, and we are optimistic that all our prepaid customers will have updated…
The Central Bank of Kenya (CBK) has licensed seven more Digital Credit Providers (DCPs) to operate in the country, bringing the total number of authorised digital loan providers to 58 as of March 2024. CBK said in a statement that since March 2022, it has received 550 applications and has worked closely with other regulators and agencies responsible for licensing, including the Office of the Data Protection Commissioner. “The focus of the engagements has been inter alia on business models, consumer protection and fitness and propriety of proposed shareholders, directors, and management. This is to ensure adherence to the relevant…
At least 1,200 educators graduate from Aga Khan University’s Institute for Educational Development, East Africa (AKU-IED EA) after successfully completing a two-year diploma programme that is jointly run by AKU-IED and the Kenya Education Management Institute (KEMI). The eighth cohort has given opportunities to both men and women as it embraces diversity and fosters inclusion. “As leaders, you must not only manage resources and administer policies, as is often the norm; you must also champion teaching and learning. Create environments where teachers are supported, innovation is encouraged, and students are inspired to reach their full potential,” Professor Jane Rarieya, Dean…
The East African Community (EAC) Telecom Sector Statistics 2023 show that the Internet traffic within the region stands at 54 per cent, with population penetration coverage of 2G averaging 92 per cent, 3G at 78 per cent and 4G recording 62 per cent. According to the East African Communication Organization (EACO) regional statistics overview, the mobile internet subscriptions stand at 61 per cent penetration with 122.3 million subscribers. Speaking on June 24, during the opening ceremony of the East African Communications Organization (EACO) 29th Annual Assemblies and Extra-Ordinary Congress, Cabinet Secretary (CS), Ministry of Information, Communications and the Digital Economy,…
Makueni County Government has launched a digital healthcare system to boost services across all health facilities in the county, Governor Mutula Kilonzo said on Monday, July 1. The Governo said primary objective of the digital system dubbed “Afya Makueni”, is to reduce paperwork while offering healthcare services and minimize administrative tasks so that focus will be on the patients. It will enable monitoring the number of patients visiting health facilities, drug consumption, revenue collection and help the restocking of health facilities in the county. “Through this system, a patient will spend a minimum of 43 minutes to be taken through…
Family Bank has relocated its Eldoret West branch to Zion Mall from Mountain View building, which is along Uganda Road as part of plans to enhance convenience of access for customers and tap into the growing Small and Medium-sized businesses. “We are pleased to redeploy our Eldoret West services to this new strategic location. Our customers can now expect an elevated level of personalized, convenient service and customer experience that Family Bank is known for,” Family Bank CEO Nancy Njau, said. “As a homegrown brand, this signifies a step forward as we continue to expand our operations and enhance accessibility…
Car manufacturer and sales company, Simba Corporation on July 1, said it has delivered the first batch of the all-electric Mahindra XUV400 Sports Utility Vehicle (SUV) ordered by Kenya Power. According to head of transport at Kenya Power David Mugambi, the delivery marks a significant step forward in Kenya’s journey towards sustainable mobility and environmental responsibility. The two electric vehicles (EV), are part of six that have been acquired by the electricity utility firm this year. Kenya Power plans to further expand its fleet to 9 electric vehicles and 25 electric motorcycles by December 2024. “At over 92 per cent…