BY PERMINUS WAINAINA I was in a networking event last month where I met an old classmate of mine, Situma (not his real name) who also runs a business. As we were sharing our experiences, he gave me a story of a conflict he was going through. Work habits of some of his employees of seven years are becoming horrible. Over the years, they have had an area that they are good at and to add on to that, they have the company knowledge and history. However, there have been times when their presence has done him more harm than good. …
Author: NBM CORRESPONDENT
BY TERESIA KING’ARA This book will stay with you long after you are done reading it. It is a roller coaster of emotions based on cultural undertones that still manifest in one way or another to date. Set in Nigeria, West Africa, it brings to life salient yet unspoken and unquestioned cultural beliefs that continue to set the tone for marriages. It highlights the frustrations both men and women undergo in marriage as they chase an illusionary perfect marriage. Based on two characters, Yejide and Akin, who have been married since they met and fell in love at university, the…
Vandalism of critical national infrastructure owing to the scrap metal trade has been growing gradually but steadily over the years By David Wanjala Mid-last year, at the height of the campaigns for the General Election that took place in August, President Uhuru Kenyatta, now retired, was bullied into rescinding a decision he had made in January of the same year banning trade in scrap metal. Coming in the wake of increased vandalism, mainly on power lines across the country, the President had issued a moratorium on the export or the buying or selling of any scrap material until there were…
By Alex Owiti The recent tech layoffs have taken the world by a surprise. Over 150,000 employees have been terminated from their jobs in an unanticipated manner within the tech industry, in spite of their global size and astronomical revenues. Facebook, Google, Pinterest, Amazon, Salesforce, NetApp, Twitter, Spotify, and Microsoft are some of the big tech firms that have recently streamlined their human resource capacity because of jittery about the looming global recession. What could be the issue? Are the layoffs warranted? Even though the effects of the Covid-19 pandemic, the Ukraine-Russia War, Climate change, inflation, and other macroeconomic elements…
BY MUMBI MUTUKO An engineer is proving that it’s possible to turn fish waste to fertilizer. Michael Ibuba an Aeronautical engineer by profession launched an aquaponics farm which he turned into a full-blown business. In 2015,Mr. Ibuba started an Aquaponics farm, a method of growing plants and fish in a symbiotic environment, where the waste produced by fish is used as a fertilizer for the plants and the plants, in turn, clean the water for the fish. In Aquaponics, he says, ammonia, a by-product of fish, is not taken at face value – the growth beds where vegetables are grown…
Why would an investment company spend colossal amount of cash on buying its own shares? Here are five reasons Nairobi Securities Exchange listed firm, Centum Investment opened its share buyback offer on February 6, 2023 after an approval from its shareholders and the Capital Markets Authority in an effort to stabilize the company’s share price which has fallen from Sh80 in September 2014 to Sh9 as of February 9. The company has set aside Sh600.8 million to go towards buying 66.5 million shares from its shareholders within a period of 18 months, with a maximum share price set at Sh9.03…
By Robert Ochieng I always get questions from first-time Nairobi Securities Exchange (NSE) investors regarding shares to buy. So, I was not caught flat-footed when my younger sister approached me with numerous queries about opening a brokerage account. After reassuring her that one can never be too young to start investing, I threw more layers of questions to her: What is your risk tolerance? What is your long-term goal? What company do you really love and believe in? How does the company’s balance sheet look? Does it pay a dividend? Does it have a moat? A moat, as popularized by Warren Buffet, the richest…
BY ANTONY MUTUNGA The National Social Security Fund (NSSF) has asked all employers to immediately comply with the NSSF Act No. 45 of 2013, which is set to increase monthly pension contributions from Sh200 to Sh2,160. This is after the Court of Appeal ruled that the Act is legal. As per the new law, the statutory ceiling is set at 12% of the pensionable wages made up of two equal portions of 6% from the employee, and 6% from the employer subject to an upper limit of Sh2,160 for employees whose incomes are above Sh18,000. “The rates to be implemented are…
The talk about higher retirement contributions is misplaced under the current circumstances By Ephraim Njega National Social Security Fund (NSSF) Act of 2013, which sought to increase monthly contributions from Sh200 to Sh2,000, is now legal after Appeal Court judges Hannah Okwengu, Mohamed Warsame and John Mativo ruled that the government will start deducting the new rates. The reinstated law is timely in the context that adequate retirement income is what will transform peoples’ living standards at old age. However, to make social security work, more reforms are needed at NSSF than money. In Africa, social security systems were guaranteed…
The improved revenue collection comes as technology has enhanced the customs operations’ effectiveness, consequently improving national revenue Kenya’s customs officials have enabled the Kenya Revenue Authority (KRA) to surpass its revenue target by enabling “legitimate trade without hindrances” and preventing threats posed by organized crime, smugglers, fraudsters, terrorists, and even goods that could endanger the citizenry. KRA surpassed its revenue target after collection in the financial year (FY) 2021-2022 hit Sh2.031 trillion. During the same period, customs and border control also collected Sh728.530 billion surpassing a target of Sh702.823 billion, which is a growth of 16.6%, and a surplus collection…