Cytonn Investments, an investments management firm and real estate developer, handed over Phase 2 of its Sh5b comprehensive residential development, The Alma, located in Ruaka. This follows the handing over of its Phase 1 in July 2019, bringing the total number of handed over units to 181. The Alma is a comprehensive residential development sitting on 4.7 acres with approximately 477 units of 1, 2, and 3 bedroom units. The developer’s focus on the Ruaka submarket is supported by, among others, good transport network as the area is accessible through Limuru Road and Northern By-pass which links it to Kiambu…
Author: NBM CORRESPONDENT
Kenyans can learn great digital lending lessons from international practices according to Zenka Finance CEO Duncun Motanya. Over the last decade, Mr Motanya notes, technology has significantly changed how Kenyans gain access to credit. Notably, more Kenyans are now financially included and can access short-term loans as low as Sh500 with a tap on their phones and sort out emergencies as fast as they come. Every day, we see more Kenyans previously excluded from formal financial services being able to access credit to meet their daily financial needs in education, health, food and business. “This progressive transformation has been necessitated…
The Capital Markets Authority (CMA) recently published guidelines to Collective Investments Schemes, (CIS), on the valuation, performance measurement and reporting by fund managers, in a bid to ensure standardization of the sector as well as ensure the consistency of the information presented across the sector. The guidelines are a commendable move by the CMA, as they will ensure the alignment of the market players and ease comparability across various players. However, they present various shortcomings. Can the regulator, for instance, determine the asset allocation for managers? Do the guidelines override the fund managers trust deed? CIS and where the guidelines fit in …
BY DAVID ONJILI The last seven months have really redefined livelihoods globally. Organizations have downsized in a bid to cut down on operational costs and families have had to adjust with reduced incomes and even job losses. Travel has been interrupted with many precautionary changes to safeguard the Covid-19 spread. Schools have been closed and children asked to learn online and many haven’t. The online learning has come with its challenges. One, for instance, needs good Internet connection, a laptop or Smartphone, items that are luxury in many of Kenya’s households that continue to grapple with lack of electricity and…
We are headed for tough times, CS Health warns as Positivity rate hits 15% and fears of restrictions across the economy loom large. BY NBM writer The fast rising cases of COVID-19 in the country over the past one month have sent shockwaves into the wobbly economy, pointing at a possible further decline, which could lead to more job losses and severe disruptions. On the last day of October, positive cases passed the 55,000 mark, with daily reported cases averaging over 1000—a positivity rate of over 15%. This is way above the recommended positivity level of 5% set by the…
In less than three years after releasing Kenyatta-era detainees upon assuming power in 1979, Moi had minted his own brand new detainees by May 1982. Incidentally, among Moi’s first detainees was John Khaminwa, an indigenous lawyer and member of the LSK, who was detained in June 1982 for representing Moi’s very first detainee, Stephen Mwangi Muriithi BY GILBERTY MUYUMBU In early 1981, President Daniel arap Moi directed that land disputes in the country would henceforth be settled by elders and the Provincial Administration, rather than through the court process. He had decided so, said the President, to save ordinary Kenyans…
Radisson Hotel Group announces the launch of a new brand, Radisson Individuals, a conversion brand that offers independent hotels and local, regional chains the opportunity to be part of the global Radisson Hotel Group platform, benefit from the Group’s international awareness and experience, with the freedom to maintain their own uniqueness and identity. Radisson Individuals hotels are selected for their own characteristics and personalities, offering guests an opportunity to discover new locations around the world, while always delivering Radisson Hotel Group’s high standards of quality and “Yes I Can!” service hospitality, combined with the local flavors and personality of the…
The efficiency in response to aeronautical search and rescue is set to improve drastically after the Kenya Civil Aviation Authority (KCAA) launched an automated Aeronautical Search and Rescue System at the Aeronautical Rescue Coordination Centre (ARCC) at Jomo Kenyatta International Airport, shifting from the previous manual system. The setting up of the automated integrated system at the ARCC that cost Sh31m will enable the KCAA Air Navigation Service Provider (ANSP) to have continuous coordination, of all Aeronautical Search and Rescue missions within the country. This automation will help KCAA achieve fast and efficient response in event of search and rescue…
Kenya’s motor vehicle distributor, Toyota Kenya, launched a new hatchback model, Toyota Starlet in the last week of October in a bid to capture customers looking for high-economy vehicles. The model, which was discontinued in the 90’s will start selling at Sh1, 980, 000. Speaking at the unveiling ceremony, Toyota Kenya managing director Arvinder Reel acclaimed the vehicle as comfortable, reliable, and safe. Besides low fuel consumption, the 1.4-litre petrol engine (K14B) delivers power. It has a fuel-efficient petrol engine with a power output pegged at 68kW/6000 rpm with 130Nm of torque at 4200 rpm. “The desire to drive around…
BY DAVID OJILI The national carrier, has steadily made losses in the last decade and entangled in court battles with its staff at the same time. Project Mawingu, that was at once fronted by the executives as a visionary ten-year plan to propel the carrier to greater hights failed miserably. In it, they had envisioned KQ having a fleet of 100 plus aircraft and going to more than 100 routes globally. Nothing materialized. Every time that the name KQ is mentioned, it is always in bad light. From disappointed passengers complaining of flight delays to pilots threatening to go on…