The high-level summit is expected to stimulate business growth across the country, bolster economic independence and prosperity Kenya is set to host the first Business Ecosystems Summit (BES) in Kisumu City in an effort to provide mechanisms for organizations to leverage technology, excel in research and business competence, and compete effectively in the marketplace. In addition to driving new collaborations that press social and environmental challenges and foster sustainable practices and responsible business models, it will focus on fostering business ecosystems that center around shared sectors, missions, goals, and products. The primary goal is to maximize interactions and leverage each participant’s unique…
Author: NBM CORRESPONDENT
A study conducted by the Pricewaterhousecoopers shows that close to 39 banks in the country made a total tax contribution of Sh181.27 billion in 2022 BY SILAS APOLLO The study, done in partnership with the Kenya Bankers Association, shows that the new figures is a 39.94% increase from the total tax contribution of Sh129.52 billion made in 2021. It further indicates that the 2022 contribution by the 39 banks, which cumulatively represents 97.65% of the market share from a net asset perspective, is 8.93% of the total tax collections in Kenya compared to 6.8% in 2021 – the 8.93% contribution…
As sexual violence cases swell, governments are expected to step in and eliminate the trauma resulting from the vice going forward By Lucy Bosibori To begin with, “hidden in the shadows” is a phrase that describes women, children and men across the globe who have had to deal with the physical and psychological trauma resulting from sexual violence emanating from conflict. Sexual violence dates back to the 1970s and 1980s. During the 1994 genocide, Rwandan women were subjected to the vice on a massive scale, perpetrated by members of the infamous Hutu militia groups known as the Interahamwe, by other…
By Silas Apollo Standard Chartered Kenya has partnered with iBizAfrica, a business incubator backed by Strathmore University in an effort to help women-led enterprises overcome challenges such as societal bottlenecks and financing limits. The 12 weeks of training is expected to culminate in seven of the businesses managed by ladies receiving about Sh1.4 mn ($10,000) each in funding to grow their businesses. Standard Chartered Women in Tech (WiT) supports female-led entrepreneurial teams with business management training, mentoring, and seed funding. This year’s top 15 teams of the “women in tech program” were picked from a pool of over 250 startups…
By Njoki Waigwa The first and most important part in starting and running a business is to pick your area of interest. To achieve this, you need to identify your business niche. This is a segmented area of the marketplace that you can profitably serve. It involves identifying existing gaps in the economy that are underserved or unmet. These are goods, services and solutions that people need and are willing to a pay a price for. It has to be something that you are good at, or something that you can hire someone to do. This will eventually give you…
By Mercy Musyoki K enya currently has four cities with Eldoret close to being upgraded to a city. However, the big question is, do the present designs set for these cities sufficiently serve their populations? Over the years, effective urban planning has become a core factor in the success of most cities. A city like Brasilia in Brazil spots an airplane-like design, while Paris follows a radial form feature which complements the structures, population and needs of the city residents and visitors. Washington DC on the other hand is divided into four quadrants along with streets that lead to public…
By Boniface Abudho The African office market faces challenges from oversupply, changing work patterns, and unfavourable economic conditions. These factors have contributed to prolonged vacancy rates, decreased sales of office space, and a notable decline in rental returns. For example, in the Nairobi Metropolitan Area, an excess supply of office space of over 8mn sqft surpasses the current demand. Consequently, developers have put a hold on new construction projects until the “extra” office space in the market is absorbed. The office occupancy levels in Nairobi have also experienced a decline of 3.9%, dropping to 71.5% from the 74.9% recorded in…
By Sarah Wabwile Land ownership process can be easy as long as proper verification of documents and due diligence is conducted. Aside from due diligence, one of the critical steps of obtaining land legally is conveyancing which is the process of transferring property from one legal owner to another. The documents required during the land purchase process include original title deed in the name of the seller, an agreement for sale, transfer forms, spousal consent (as the case may be), board resolution to transfer where a company is selling, and consent to transfer. To ascertain that the piece of land will solely…
By Mumbi Mutoko In a bid to address the rising cost of cooking oil and boost the local economy, the edible oils manufacturing sector in Kenya has called upon the government to allocate suitable land for palm growing. With the objective of ensuring sustainable growth and promoting local competitiveness, industry players are seeking public-private partnerships to invest in palm cultivation, infrastructure development, and job creation. The edible oil sub-sector, acknowledging its pivotal role in the economy, stated that it believes cultivating oil palm in Kenya will have a transformative impact on the industry. By supporting backward integration, the sector said…
Despite the inability to repay their loans, many Kenyans are willing to pay off their debt By Antony Mutunga During the pandemic, many businesses witnessed reduced profits and losses, some closed down while others were forced to lay off workers. This resulted in many relying on debt. As the pandemic continued on, many people ended up defaulting on their loans. As the country got back into recovery, many of these people were left stranded as they lacked the finance to repay their loans. Fast forward to 2023, and almost half of the digital loan defaulters have been able to clear…