BY ANTONY MUTUNGA A majority of individuals have shifted digitally. Businesses have also integrated technology. This has been both a blessing and a curse. While technology has helped some businesses to expand and grow in leaps and bounds, cyber criminals have been giving those who have not invested in cybersecurity sleepless nights. Kaspersky detected 10,722,886 phishing attacks in Africa in Q2 2022 – the most affected countries are Kenya, South Africa and Nigeria. Kenya was the most hit as there were 5,098,534 attacks detected in three months – a growth of 438% when compared to the previous quarter. It was followed…
Author: NBM CORRESPONDENT
BY ISMAIL EINASHE On a balmy morning in Nairobi, a group of children are building robots using motors and wires, while in an adjacent room a child is learning how to use software to spell their name on a computer. This hive of tech activity is taking place at the headquarters of the Stem Impact Centre, a non-profit organization that aims at accelerating the uptake of science, technology, engineering and mathematics education. Established in September 2020, the centre supports schools by providing their students with the space to learn coding and robotics and take a “do it yourself” approach (popular…
Africa has long been touted as the continent with the most growth potential when it comes to tech and innovation. Many African countries are building their own equivalents of Silicon Valley. Moreover, tech companies have been setting up offices and launching into markets across the continent. And in addition to growing their customer bases, these companies are committed to making positive impact. Over the years, Google has been doing its fair share for small businesses, content creators and business owners across Africa. The tech giant recently picked five South African as part of its innovation challenge dubbed “Google’s News Initiative”…
By Ashford Gikunda Entrepreneurs are not ordinary individuals. They are resilient, and hard-working people who bring ideas to life. Entrepreneurs turn passion into projects. It is therefore vital for parents to raise entrepreneurial minded children. Margot Machol, in her book, “Raising an Entrepreneur,” interviewed 70 parents about how they helped their children achieve their dreams of becoming entrepreneurs. The author noted that specific knowledge, at an early age, plays a big role in a child’s future business acumen. Here are three reasons why Ms Machol feels it is critical for parents to inculcate entrepreneurship skills into their children at a young age.…
BY Victor Adar When the development of Pazuri at Vipingo, a gated community in Kilifi County backed by Superior Homes, started back in 2019, there were high hopes that a total of 378 standalone houses would be complete by 2023. But barely two years after, the project took a break because of Covid-19 pandemic. The developer will now finalise the project in 2024. Commenting on the current shift in the high end holiday homes market, Clive Ndege, the head of sales at the company said that the project will position Pazuri area as “best holiday homes” in Vipingo, which is…
Safaricom Investment Co-op (SIC) invests Sh759 million on building low-cost houses in Ruaka, Kiambu County In an attempt to address the issue of the current housing shortage, Safaricom Investment Co-operative (SIC) has held a groundbreaking ceremony for The Miran Residence, a residential development in Ruaka. The chief executive of SIC, Sarah Wahogo noted that Miran, which is located in Ruaka (on Western end of the Nairobi Bypass), Kiambu county, is a three-acre development that consists of studio apartments currently selling at Sh3.2mn, studio lofts (Sh4.3mn), one-bedroom (Sh5mn) and two-bedroom (Sh6.5mn) apartments. “The architectural design promotes a healthy lifestyle with the…
Bamburi Cement Group recorded a revenue of Sh20.1 billion in the first six months of 2022, a 2.6% increase from Sh19.6 billion posted in the corresponding period of 2021 Unaudited results for the six months ended June 30, 2022, show that the firm’s turnover was mainly supported by volume growth along with improved average selling price compared to prior period. While revenue grew, profit before tax declined from Sh1.1 billion to Sh124 million because of the high operational cost with operating profit at Sh210 million from Sh1.2 billion recorded the previous year. Cash flow generated from operations was lower at…
How one man exited Absa to join Ecobank after recording 13% growth in profit after tax to Sh6.3bn for half year period that ended in June 30, 2022 BY NBM Writer Jeremy Awori, the outgoing CEO of Absa Bank Kenya, now has his sights set on the pan-African market as he heads to Eco Bank Group as chief executive, after his formal departure from Absa at the end of October. Mr Awori will replace Eco bank’s current CEO Ade Ayemi who will exit the lender after attaining the retirement age of 60 years. “I am delighted to have led Absa…
Kakuzi’s inaugural avocado export cargo to China sold out as the company plans for a second load to be delivered in October Listed agribusiness company Kakuzi has confirmed that its inaugural “hass” avocado export cargo to China has been sold-out in the quality-conscious market. According to the firm’s managing director Christopher Flowers, the success of the inaugural export cargo to China has paved the way for the pre-export planning for a second load to be delivered in October. The firm has also commenced plans to explore the Malaysian market as part of its market diversification strategy. “The first Kakuzi Hass…
BY Antony mutunga NCBA Group is set to pay an interim dividend of Sh2 per share, translating to a total payout of Sh3.29 billion thanks to a profit after tax of Sh7.8 billion compared to Sh4.7 billion same period last year, representing 67% growth. While the lender experienced revenue growth in most areas, non-interest income was particularly strong because of “an outperformance in foreign exchange” revenues. Moreover, a strong customer base and the bank’s ability to source, risk manage and supply foreign currency, made it possible for the bank to become a top earner of foreign exchange revenues during the…
