A digital (cashless) remittances company, WorldRemit, announced that 82% of Africans working abroad send money from the diaspora to their home countries face the cost of living challenge that has risen since the start of the year. The firm, in its Cost of Living report, highlighted the impact of inflation on people around the world, noting that almost half (45%) now only send money to immediate family, rather than friends and distant relatives. The study, conducted in October 2022 to determine the effects of the increased cost of living on money senders in the United States, United Kingdom and Australia,…
Author: NBM CORRESPONDENT
Alternative and sustainable investments high on the agenda as East and Central African institutional investors convene in Zanzibar for ‘high impact dialogue’ on economic recovery and development in the region. Zanzibar is set to host the East and Central Africa institutional investors forum to push the development agenda of the region. Themed “rethinking investment returns in the new normal, investing for impact”, the conference is scheduled for February 22 and 23, and will feature special workshops aimed at improving investment decision making. Tanzania has been selected as the host country for this event because it demonstrates high-growth, has put in place various…
Mastercard opens its first office in Mauritius to broaden presence in East Africa and the Indian Ocean Islands, while also strengthening its commitment to serving the emerging market of Mauritius with its financial products and services.
A discussion on how to create wealth through co-operatives is timely. First, most people do not understand what a co-operative society is, and what it does. At the same time, people confuse a Co-operative Society and a Savings and Credit Co-operative Society (SACCO). Some use them interchangeably. However, they are different in more ways than one. Before deciding where to put your finances, it is important to understand the difference between the two. While a co-operative promotes the welfare and economic interests of its members and is open-ended in its operations, a SACCO is limited to holding savings and providing…
2022 KCPE results announced as Kenya plans to admit all candidates to form one Education Cabinet Secretary (CS) Ezekiel Machogu has released the 2022 Kenya Certificate of Primary Education (KCPE) results, with top candidates – Otieno Lewis Omondi Glen from St peters Mumias Boys Primary school and Fwaro Makokha Robinson of Christ the King Primary School in Bungoma –, scoring 431 marks out of 500. In a live broadcast at Mitihani House today, the CS said a total of 1,233,852 pupils sat the 2022 KCPE exams. He noted that the government is aiming for “100% transition”, and all candidates will…
By Jenny Coetzee and Angelica Ouya Picking the right learning environment for a child boils down to not only a parent’s personal choice, but also the way in which the child will view learning, how they foresee their role in society and the contributions they will make locally and globally later in life, education experts say. And, the process should best suit a child’s personality and needs. Some rules and regulations can make parents, or guardians feel overwhelmed and even confused about how to determine what is and isn’t right for their child’s journey ahead. However, there are a number…
Ever shopped online, paid via bank or mobile money transfer, and felt uneasy? It is festive season, and statistics show a worrying trend. TransUnion, an information and insights firm, says fraud attempts in the retail sector have hit 42% in Kenya. It also found that 5.4% of the country’s online transactions reviewed from November 24 to 28, were “suspected” to be fraudulent. The company’s senior vice president and head of global fraud solutions Shai Cohen, says fraudulent activity tends to be particularly prevalent in online retail during the holiday shopping season. “It’s important that online retailers ensure consumer security and…
For businesses across the region, the cloud presents a unique opportunity to innovate, develop new products and services, and scale into new markets or geographies By Hardeep Sound When the early days of the pandemic pushed industries across East Africa into survival mode, a wave of cloud adoption swept through the region. Investment into cloud technologies and digitalisation has since helped organisations in the region build greater resilience, unlock new business models, and push up revenue streams. Even the most reluctant businesses and their customers gathered momentum and entered the online space, an indication that the benefits of digitalisation became…
The first ever eco-friendly beauty palour has been launched at the heart of Nairobi’s Central Business District (CBD) to meet the growing consumer demand for high quality affordable services whilst addressing environment concerns. The Borderless Salon, Barbershop and Spa, located at Bruce House on Standard Street, emphasises on use of sustainable salon products that reduces use of plastic by embracing those with glass packaging. It is designed to ensure circular and sustainable practices at every stage of service delivery. Eco-friendly heaters and washers fitted with thermostats have been installed at the facility to reduce electricity and water consumption, respectively. It…
Ecuador made the perfect start to the World Cup tournament by beating host nation Qatar 2-0 yesterday in the Group A game with a brace from veteran striker Enner Valencia, who scored on a penalty kick and then a header in the first half. The game marked the first time a host nation had been beaten in a World Cup opener. Fans dressed in national soccer jerseys and carrying Ecuadorean flags in honor of the team known as the ‘Tricolor’ filled restaurants, squares and shopping centers in various parts of the nation to encourage the team with the ‘yes we…
