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…
Author: NBM CORRESPONDENT
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…
The Kenya Reinsurance Corporation (Kenya-Re) has reported a profit after tax of Sh3.62bn for the year ended December 31, 2022, representing a 15% growth compared to 2021 full year results of Sh3.16bn.The corporation’s gross written premiums grew by 23% to Sh24.98bn while net earned premiums of Sh22.15bn grew by 16% compared to last year’s Sh19.04bn. The growth has largely been attributed to the reinsurer’s continued improvement in the reinsurance portfolio, enhancing customer-centricity, intensified market engagements to improve visibility and diversification of the portfolios and markets. Other factors include speedy processing of fully supported claims, inculcating a positive culture to support…
The Kenya shilling has been under constant pressure. It has depreciated by 10.2% from the beginning of the financial year to March 24, 2023. This volatility in exchange rate should not only worry business owners, but also consumers. While small depreciation can be handled by passing on the impact to consumers through raising prices, when the rate is steep, it becomes unsustainable. It is not sustainable for a business to keep on raising prices. It reaches a point where such a move will just impact demand negatively. If a business venture cannot absorb the impact of the (current) depreciation, and…
An anti-corruption court has put former Nyandarua County Governor Daniel Waithaka Mwangi and five former top county officials on their defence after finding that the State has established a prima facie case against them in a Sh50 million case they are facing. “After looking at the charges, evidence, submissions and exhibits on record, I find that the State has established a prima facie case against the accused. The accused therefore have a case to answer,” Senior Principle Magistrate Judith Wanjala ruled yesterday, sitting in Nyahururu. Mr Waithaka Mwangi, five top officials of his administration and two contractors of Israeli origin…
A recent strategic plan for the sugar sector revealed that Kenya is a comparatively high-cost producer because of inefficiencies across the entire value chain. In 2018, local sugar mills produced 490,704 tonnes, accounting for a paltry 57% of the domestic requirements of table sugar. In 2019, only 440,935 tonnes were produced against the consumption of 1,038,717 tonnes, resulting in a 58% deficit. Current demand stands at 850,000 tonnes, a drop from 639,741 tonnes in 2016, representing a 23% decline. The country cannot produce 160,000 tonnes of refined sugar, an annual requirement; thus, the deficit of both table and refined sugar…
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. …
