Rolls-Royce, a company that develops and delivers power and propulsion solutions for safety-critical applications in the air, at sea and on land, has appointed John Kelly as its President for Middle East, Türkiye and Africa (META), with immediate effect. Before this role, Mr Kelly spent six years as senior Vice President of Europe, the Middle East and Africa for the company’s civil aerospace business. He joined the firm over 20 years ago, in 2001, as a graduate trainee in the defence section, and rose to become a senior manager before joining the firm’s civil aerospace division. Kelly said that Africa…
Author: NBM CORRESPONDENT
Music streaming company Spotify has announced a multi-year investment in Vibrate, a community recording studio and music business programme. The company said that it would be making a donation to Vibrate Space, a non-profit organization helping young Ghanaian music entrepreneurs, to support emerging artists in Ghana. Spotify first invested in the space in September 2022, which facilitated the launching of the space. It said that the investment to Vibrate Space will be made through its Creator Equity Fund. Vibrate Space, which is operated by Surf Ghana in Accra, is a community recording studio and music business programme, offering education, mentorship…
Family Bank Group has recorded a Sh3.7 billion profit before tax for the full year ended December 31, 2022, a 12.2 % growth compared to Sh3.3 billion posted in 2021.The revenue growth was catapulted by double-digit growth in revenues, customer loans and prudent investment decisions by the lender. Total revenues increased by 10.6% to Sh11.9 billion driven by 10.7% growth in net interest income that stood at Sh8.6 billion in the period under review largely as a result of exponential growth in interest income from loans and that of government securities which grew by 19.2% and 29.9% respectively in…
Kenya stands well above its neighbors in the inclusion of women in key decision bodies, a new report by the World Bank shows. The World Bank Group’s Women, Business and the Law Index says that the country scored 80.6 out of 100 compared to the regional average of 72.6 observed across Sub-Saharan Africa on women inclusion. The figure is also higher than the average score for Eastern and Southern Africa at 74.1. According to the 2023 Women, Business and the Law dataset, Kenya’s score increase over the years has been largely due to the enactment of legislation on domestic violence,…
Agribusiness firm, Kakuzi Plc, is set to provide free maturity testing services for local smallholder avocado as part of its corporate support initiatives to foster the local and export market delivery of quality avocado fruits. Kakuzi says it has also committed to providing the preharvest maturity testing services at its FSSC 22000 Food Safety Management Systems certified Kakuzi Avocado Processing and Packhouse facility located near Makuyu town, along the Nairobi-Nyeri highway. The firm’s managing director Christopher Flowers said the laboratory-based testing services will be provided to smallholder farmers as part of a national quality assurance commitment. Farmers will also receive…
A timely regulatory overhaul of Africa’s fledgling electricity sector can attract private sector investment and ensure energy security on the continent. More than 600 million Africans have no access to electricity and Africa generates only 4% of the global energy. Despite vast opportunities in the development of the electricity sector in the continent, there is low private sector investment in energy infrastructure and service delivery. This was the highlight during a two-day public-private dialogue on private sector investment in electricity and infrastructure development in Africa that was recently organised by the United Nations Economic Commission for Africa (ECA) and the…
Supermarket chain Clean-shelf and Cake City Bakery have opened their doors at Superior Homes Kenya’s retail centre built at the frontage of Greenpark Estate. The entry of the two retailers brings unmatched shopping experience and services closer to the over 700 residents of Greenpark Estate, the wider Athi River region and thousands of travelers using the Nairobi-Mombasa highway. Other retail outlets that have set up shop at the Sh350 million retail facility include Simbisa Brands (Creamy Inn, Pizza Inn, Chicken Inn), Goodlife Pharmacy, Lorenzo Drycleaners, Prini, Sidis Electricals and Genteel Liquor store. Artcaffe is expected to open its doors in…
Safaricom has partnered with Huawei to unveil three 5G experiential centres across Nairobi. The three centres, located in Safaricom’s Village Market, The Hub and Buruburu Shops, will showcase the superfast speeds and cutting-edge devices that come with 5G connectivity. “We are excited to unveil these experience centres, which will enable Kenyans to discover the power of 5G firsthand. As a digital lifestyle enabler, we are further enhancing Kenya’s best internet network, and empowering our customers to start exploring the limitless possibilities that 5G provides,” said Peter Ndegwa, CEO, Safaricom PLC. At the 5G experience centres, customers will experience virtual reality…
Close to two decades after its launch in Pakistan, AKU began a new chapter in East Africa with precursor programmes in nursing and teacher education. Today, the University in Kenya has grown its offering to postgraduate programmes in medicine, media and communications studies and hosts three research institutes. Speaking during the official launch of the anniversary celebrations, Principal Secretary, State Department for Higher Education and Research Dr Beatrice Muganda Inyangala, who was the chief guest, lauded the institution for its great impact in education, healthcare and research. “The University’s investment in these sectors positions its students to reap the best…
The event was recently held in Johannesburg, South Africa, and was convened by MNCapital Group under the theme “exploring ETFs as a viable alternative for the African Investor”. It also saw various speakers and delegates convene and share presentations and ideas based on their expertise, with discussions such as the need for African countries to embrace ETF’s topping the agenda of the day. Speaking during the conference, Michael Ndinisa, MNCapital Group founder and chief executive officer noted that although ETFs have been in existence for over 30 years, they are fairly new to the African markets. He added that as…
