Family Bank has unveiled an exclusive woman banking proposition dubbed “Queen Banking” and sets aside Sh50 billion kitty for the next 2 years to cater for the “diverse individual and business” needs of women to promote their economic empowerment and deepen financial inclusion in Kenya. The product will cater to the needs of three types of women, namely the woman in business, the professional woman and the “chama” woman, and is exclusive to businesses with at least 51% of the shares controlled by women, or 100% owned by women. It also targets businesses where women constitute more than 30% of…
Author: NBM CORRESPONDENT
History has been made at the Kenyatta University Teaching, Referral and Research Hospital (KUTRRH) following the recent commissioning of the facility’s CyberKnife radiotherapy services. Following the launch of the CyberKnife System, the first and only fully robotic radiotherapy device for cancer treatment launched last May, the first patient has undergone treatment today, in a trailblazing move geared at expanding access to advanced Cancer care in Kenya. Through KUTRRH, Kenya became the first country in sub-Sahara Africa to acquire the CyberKnife, making it possible for local patients to obtain access to the extremely precise stereotactic radiosurgery (SRS) and stereotactic body radiation…
Medical journal, Lancet Series, has called for the standardisation of data, technology, and quality pre-natal information as national preventive measures to curb the high rate of early infant deaths and stillbirths that currently stand at 20% in Sub-Saharan Africa. Created through an international collaboration of a group of scientists, it estimates that 566,000 stillbirths and 5.2 million preterm or underweight births could be prevented each year by implementing eight accessible and cost-effective pregnancy interventions in low-and-middle-income countries, with the estimated cost of implementing these measures stands at $1.1 billion by 2030. “As a government and especially with the devolution of…
The agreement, signed during the recent US Ambassador to Kenya, Meg Whitman’s Investor Roadshow supports the “Africa Recovery and Resilience Plan” in mechanization and value addition activities for small-scale farmers. During the second edition of US Ambassador to Kenya, Meg Whitman’s investment roadshow series to the United States, Equity Group Holdings and farm equipment maker John Deere signed a comprehensive agreement to offer tractors into the Kenyan market through well-defined and affordable finance programs for both large scale and small-scale farmers. The agreement underpins the lender’s strategic vision plan for social economic transformation in the `Africa Recovery and Resilience Plan’…
Kevit Desai outshone peers for the top slot for cars on the ramp as Dominique Antoine rode off with the trophy in motorcycles category Kevit Desai is the overall car winner of this year’s edition of the quintessential Africa Concours d’Elegance that was held at the Ngong Racecourse on Sunday 24th September. Desai, a former Principal Secretary in the Ministry of East Africa Community and Regional Development, straddled the judges’ course in his 1968 Jaguar 420. He stunned the zealously cheering crown of vintage car enthusiasts who turned up for the biggest motor pageant in Kenya. Veteran participant Gayling May…
NCBA Group plans to pump another Sh2 billion into the local subsidiary of the American International Group (AIG Insurance Kenya) in an effort to tap the company’s high-profile clients. The lender said its board had given the green light to the proposed transaction, which if successful, will see it take control of the insurer. AIG Kenya serves customers across the East Africa region. NCBA serves customers across four countries in East Africa – Kenya, Uganda, Tanzania, and Rwanda. Last year, the lender’s investment in AIG Kenya hit Sh1.03 billion from Sh987.3 million a year earlier. This time, the additional cash…
After recently holding the Africa Climate Summit and Africa Climate Week 2023 in September, Kenya has hit the ground running in its efforts to tackle the climate crisis. With Kenyan manufacturers having committed to scaling up clean energy initiatives to realize a low-carbon future, the 9th Clean Energy Conference and Expo, hosted by the Kenya Association of Manufacturers (KAM) lived up to its billing. The event brought together over 100 delegates of senior government officials and energy experts as well as 30 exhibitors who showcased innovations in the clean energy space, including renewable energy, water, e-mobility, green buildings, and clean cooking. …
Kenya commercial banks have continued to record profits as the economy gets closer to the norm that was, before the pandemic. Old Mutual Holdings Limited is the recent member to the join the list of profitable financial institutions after it posted a Sh200 million profit before tax for the half year endedJune 2023. The financial institution has accredited the profit to a twelve percent growth in revenue. The firm recorded an increased revenue of Sh1.8 billion in the period. Additionally, the firm also witnessed increased investment income from financial assets and investment properties in the period. According to Arthur Oginga,…
The National Assembly Departmental Committee on Energy has raised concerns over punitive Power Purchase Agreements signed between Kenya Power Company (KPC) and Independent Power Producers (IPP). The committee chaired by Mwala MP Vincent Musyoka, during a meeting with the KPC and IPPs, said Kenyans cannot continue paying expensive power when affordable power is available. “We can’t get into other take or pay agreements. This committee will not allow the purchase of expensive power from some IPPs when we have affordable power,” said Musyoka. In response to the Committee’s concerns, one of the IPPs – Kopere Limited – chaired by James…
This will ensure vaccines are delivered safely and quickly across the continent Medical device manufacturing company, Revital Healthcare EPZ Ltd., has been granted a Pre-Qualification (PQ) status by the World Health Organization (WHO) that if successful will see the company manufacture “auto-disable (AD) syringe” in Africa. The early-activation feature is the gold standard for safety in immunization programs as preferred by UNICEF, and renders the syringe disabled at the start of administering and injection. Historically, the introduction of these devices have resulted in substantial reductions in rates of blood-borne infections such as HIV in immunization programs across Africa. This work…