Author: NBM CORRESPONDENT

Nova Pioneer Tatu City School has been named as one of the top 10 finalists in the innovation category of “World’s Best School Prizes” education awards and will square it out for the top honours with other schools from the United Kingdom, Brazil, Italy, and Australia, among other regions. The Kenyan academic institution has been picked alongside the Kakenya Center for Excellence, a government-funded primary boarding school for girls near Kilgoris in Narok County to. Kakenya has been nominated for the “Community Collaboration” award. “This nomination is a testament to the school community’s sheer hard work as part of a…

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The price of petrol has reduced by Sh3, diesel by Sh6.08 per litre and that of kerosene by Sh5.71 per litre thanks to reduced landed cost charges of imported fuels between April and May this year, Energy and Petroleum Regulatory Authority (EPRA) said in a statement shared on Friday, June 14. EPRA said the lower prices will run from June 15 to July 14, 2024 and will see super petrol, diesel and kerosene (in Nairobi) retail at Sh189.84, Sh173.10 and Sh163.05, respectively, for the next 30 days. Consumers in Mombasa will pay a maximum of Sh186.66, Sh169.93 and Sh160 for…

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Family Bank shareholders have approved establishment of a non-operating holding company that will hold shares in Family Bank Kenya and other non-banking subsidiaries ahead of expansion plans. The lender’s chief executive Nancy Njau, said regional expansion remains a focus for the bank in supporting its business growth and expansion strategy. “We are exploring the possibility of expanding our footprint to countries within the East, West and Central African region,” Ms Njau said. “This non-operating holding company will allow for capital efficiency, risk management and establishment of separate governance structures for both banking and our non- banking subsidiaries.” The approval comes…

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USAID and BrighterMonday backed “e-Biz Kwa Vijana” project, an e-commerce development initiative launched in 2023, has closed its first phase, with at least 2,000 young entrepreneurs and Micro, Small and Medium Enterprises (MSMEs) having benefited from free digital skills and E-commerce training. The initiative, executed through e-Trade Alliance, has also on-boarded 632 MSMEs onto various e-commerce platforms to help them venture into the next phase of their business growth and opportunity journey. It is designed to train up-to 1,000 young entrepreneurs aged between 18-35 years, in leveraging online trading and digital platforms also covered women entrepreneurs and people with disabilities.…

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By Tony O. Elumelu The philosophy of Africapitalism — which entails a visionary approach to economic empowerment, driven by the belief that the private sector has a critical role to play in advancing Africa’s development agenda – is one that has potential to offer the continent value. In a nutshell, Africapitalism could unlock Africa’s vast potential while empowering its people to thrive and prosper. Here are three critical areas that need attention and collective action for the continent to be on the right path to sustainable development. Entrepreneurship and job creation: The role of entrepreneurship in fostering global food security…

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Tax Raider or Budget Artist? Unpacking the Controversial 2024 Budget with Prof Njuguna Ndung’u The June 2024 issue of Nairobi Business Monthly is a must-read for anyone invested in Kenya’s economic future. With a hard-hitting cover story titled “Tax Raider or Budget Artist?”, the magazine dives deep into the contentious 2024 Budget introduced by Treasury CS Prof Njuguna Ndung’u. This issue unpacks the myriad of reactions and implications surrounding the new tax and spending measures, exploring whether they will aid in economic recovery or push Kenya further into fiscal turmoil. Inside This Issue: Economy and Governance Sh600 Million Lab for…

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In a significant win for Finsco Africa and Legacy Ridges, the High Court in Kiambu has dismissed a petition aimed at halting key documentation processes that includes issuance of title deeds for a property development project they jointly undertook. Lady Justice Abigail Mshila, in her ruling, upheld a preliminary objection dated May 11, 2023, thus clearing a major hurdle for construction work to go ahead. “The application is found to be incompetent and it is hereby struck out,” said Lady Justice Mshila, pointing out the legal deficiencies in the petition brought before the court. The legal battle centered around a…

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By Alex Kanyi Kenya has begun to implement the Public Benefit Organisations (PBO) Act, which enhances societal progress by advocating issues of public interest, marking the end of a decades-long court battles and opposition from various administrations. The new legislation replaces Non-Governmental Organisations Co-ordination Act of 1990, but questions linger about the impact it will have on civil society and PBOs. Will it do enough to spur societal progress? With the robust regulatory framework governing non-profit entities in Kenya, PBOs now have certainty about the registration process, compliance issues and generally how to carry out their activities as the Act…

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Kenya Tourism Board (KTB) will work with social media influencers from various African countries, including Uganda, Ethiopia, Rwanda, and Tanzania to enhance the visibility of Kenya’s tourism destinations. Speaking at the East Africa Community (EAC) influencer familiarization dinner, KTB’s director of market development Betty Ichan, said influencers would showcase the magic, diversity, authenticity, sustainability, and all-year-round nature of Kenya’s tourism destinations. “Africa is our key focus market, which is why we have engaged influencers from East African countries to help us showcase Kenya’s rich tourism offerings. This is part of our broader strategy to position Kenya at the forefront of…

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In recent years, there has been a surge in self-catering holidays in Kenya. This is inspired by the growing trend of staycations, making holiday letting a more appealing investment. The pandemic revealed that many of us would have liked to have a holiday home to retreat to, providing us with enough room to work, relax and spend quality time with our family and create memories. Investing in a holiday home has become increasingly popular recently due to the emergence of digital real estate marketplaces such as Airbnb and the rise of remote working. People may choose to purchase a holiday…

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