Since March last year, the borrowing trend has changed as a majority of Kenyans are forced to rethink their budgets while businesses are either laying off workers and reducing expenses, or all together closing down. Many expected that the situation would get worse as the world is still facing the consequences of the pandemic but a report by the Central Bank of Kenya on credit extended to the private sector players paints a bright economic future for the country. In the first quarter of 2021, lending to households increased by Sh39bn compared to the previous quarter (Q4 2020) where it…
Author: NBM CORRESPONDENT
A partnership between Financial Services Commission Mauritius (FSC) and Capital Markets Authority Kenya (CMA) will strengthen the regulatory authorities and improve financial regulation landscape. The move is expected to increase knowledge and understanding of the laws and regulations in various fields such as financial instruments, market intermediaries, asset management, Fintech and other components of the financial innovation ecosystem. It will also build internal capacity for both regulators through study tours, exchange programmes and secondments. “We see this as an opportunity to build our internal capacity through exposure for our technical staff to best practises that can support the capital markets…
The female focused program develops artisans at a higher skill level in a shorter period of time Gateway Real Estate Africa (GREA) gives a non-profit social enterprise, Buildher, a funding boost of Sh4,328,000 ($40,000) in a bid to ensure up to 30 women in the construction arena undergo a 12-month training programme. The training programme targets ladies aged 17 to 40 years, and lasts for 12 months with new courses starting every year to allow for a systematic advancement through the technical skills curriculum including carpentry and joinery, painting, and decorating. GREA co-founder and CEO, Greg Pearson said that empowering…
By David Whitehouse Gateway Real Estate Africa (GREA) has raised more than Sh21.5 billion in equity and debt to fund its expansion in Kenya, Nigeria, Ghana and Mauritius. The amount will increase by the time the fundraising ends in early October. According to GREA chief executive Greg Pearson, the organization will use the money to increase investments in data centres, as well as embassy, educational, healthcare and light industry properties. Data connection Africa needs more data centres. Only a third of the continent’s 80 metropolitan areas with a population of more than one million have at least one built-for-purpose data centre, according to the Africa Data Centres Association…
By Victor Adar Consumers will soon be able to buy vegetables and fruits bearing a quality mark from the supermarkets and other retail stores after the unveiling of the KS1758 Code of Practice. The adoption of the KS 1758 mark of quality is part of a campaign to ensure fresh produce industry players have a quality reference when handling fresh produce, as the government looks to standardize food safety and quality, and facilitate sustainable market access through the retail outlets. The process will start with the formal sector, such as supermarkets and e-commerce vendors, with the first certification projected to…
East Africa will most likely lead the post pandemic recovery – Experts By Victor Adar Over the past 18 months, real estate developers and investors have faced many challenges. But the 8th Annual East Africa Property Investment (EAPI) summit held on July 7, paints a bullish picture. Themed “Reposition & Reimagine”, the event sought to pass the message that investing in real estate is primed to build the foundations for a more sustainable and inclusive future. “We have seen development being driven by new demand and changing market dynamics across the sector. This has led to investment in logistics and light…
Leadership must be ingrained in children from an early age if we are to solve the current skill gaps By Mwangi Muchiri The shortcomings of poor leadership manifest in every aspect of human life. One only needs to watch or listen to the national news to familiarize themselves with the sufferings of ordinary citizens brought about in part by poor choices made by leaders. While poor self-seeking leadership is not a preserve of Kenya, it ravages African nations like a plague. A wealthy continent wallows in squalor and oscillates uncertainly under the burden of greedy, self-seeking leaders. Good leadership is what will propel…
BY VICTOR ADAR The improved performance comes after eight years Kenya Revenue Authority (KRA) has surpassed its revenue collection target in the financial year 2020/2021 by Sh1.669trn compared to the previous financial year’s Sh 1.607trn. According to the authority’s commissioner general Githii Mburu, the target as reflected in the 2021 budget policy statement was Sh 1.652trn, amount which was surpassed with a surplus of Sh 16.808bn, representing a performance rate of 101% and revenue growth of 3.9% compared to the last financial year. “This performance is consistent with the prevailing economic indicators, especially the projected GDP growth of 0.6% in 2020,” Mr Mburu said in a press statement. “In…
While we in Singapore decided to march forward together as a nation, you in Kenya decided to assassinate Tom Mboya – Lee Kwan Yew BY GAD WESONGA In his book, A leap into the Future,A Vision for Kenya’s Social-politicalandEconomic Transformation,Prof Anyang’ Nyong’o, now Kisumu County Governor relives his 1994 encounter with Lee Kwan Yew, the legendary Asian leader while in Singapore for the Africa-Singapore Encounter conference. After his speech that revolved around “What Singapore Can Learn from Africa and What Africa Can Learn from Singapore,” it was question time for the great Lee, then a senior Cabinet Minister after his…
Kenya has a unique place in the global IT landscape, its industrious people stand out as well as their readiness to embrace technology BY VICTOR ADAR Echotel’s Ken Munyi has always been in information technology, finance and administration management space. An exciting 15 years’ journey has seen him lead organizations both in Kenya and Tanzania. Mr Munyi began his career with Fellowship of Christians Unions (FOCUS) as an accountant before moving to Africa Online in Tanzania where he joined as assistant accountant. He grew through the ranks, and would be a finance manager in the East African country with the…