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,…
Author: NBM CORRESPONDENT
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…
By Mumbi Mutoko Washington DC-based Millennium Challenge Corporation (MCC) and the Government of Kenya have inked a Sh8.877bn ($60 mn) deal in an effort to improve urban connectivity and bolster economic growth. The program, which was jointly designed by MCC and the Kenyan government, is set to tackle challenges related to urban connectivity, primarily in Nairobi. It aims to strengthen institutions and support improvements in long-term planning for integrated, accessible, and safer transportation and land use. It will also provide financing support for the acquisition of climate-friendly buses for the emerging bus rapid transit (BRT) network, including electric buses for…
When architects across the world in collaboration with the Architectural Association of Kenya (AAK) held the 8th International Federation of Landscape Architects (ILFA) African convention at the Safari Park Hotel, it was clear that multi-sectoral approach is important on the question of long term or short term sustainability of cities Themed “emerging interaction,” the congress was founded on the need for architects to look beyond their professional and cultural boxes, and learn how to develop holistic solutions to the current challenges facing cities such as design complexities, landscape, and sustainability. Speaking at the convention, representative of the CS of State…
History has been made at the Kenyatta University Teaching, Referral and Research Hospital (KUTRRH) following the commissioning of the facility’s CyberKnife radiotherapy services today. 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…
Singapore’s ‘economic miracle’ is not a story of top-down economic growth. Instead, it is the story of far-sighted planning, coupled with execution capabilities, an intolerance for corruption and respect for human dignity and liberty, allowing people to feel empowered in a predictable playing field. By Karim Anjarwalla After the curtains for the Africa Climate Summit 2023 closed in Nairobi on a very high note last week, Kenya deserves commendation for conceiving and hosting the Summit and placing the global discourse on climate change firmly on the international stage. If this event serves to expedite the shift towards a fair climate…
The new employees will be trained in ‘computer vision’ and data labelling services, a field in high demand by Artificial Inteligence (AI) developers and Machine Learning (ML) engineers globally Data company, Sama, plans to hire and train 2,000 youth and women to work on computer visioning projects for Fortune 500 companies. According to recent research by the McKinsey Global Institute on generative AI and productivity, the AI value chain can generate value equivalent to $2.6 trillion to $4.4 trillion in global corporate profits annually. The 2,000 employees will be trained in computer vision and data labelling services, a field in high demand…
The firm has adopted solar power solutions as a part of an agenda to advance green growth Listed food processing company, Unga Group is completing a Sh 300 million solar power generation project at its five Nairobi (2), Nakuru (2) and Eldoret manufacturing sites as part of its sustainability endeavours. Speaking ahead of Africa Climate Summit 2023 that came to a close last week (Wednesday) Unga Group’s managing director Joseph Choge said the firm continues to embed climate action and sustainability as a crucial part of its business strategy and is, among other things, investing heavily in green projects, including the…
By David Chesoni Driving requires good visual acuity and clarity. Any problems with your eyes can significantly impact your ability to see and react to road hazards. A driver’s ability to see and interpret road signs, other vehicles, and pedestrians is critical to their safety, as well as the safety of other road users. Therefore, it’s essential for motorists to prioritize their eye health and schedule regular eye checkups. A recent eye screening exercise conducted in five counties on drivers of Public Service Vehicles (PSVs) last year revealed that at least 40 percent of the 900 drivers screened had unattended eye problems. This…