Understand the inevitability of retirement, the importance of retirement planning and what power of choice you have as an investor, and make a sound decision that ensures you enjoy the sunset years of your life. BY DAVID WANJALA The pensions industry refers to the economic sector comprising of retirement benefits schemes, the assets these schemes control and relevant regulations affecting the schemes’ operations. The industry has witnessed significant growth with the number of registered members increasing from 0.7m and assets under management worth Sh0.42tn in 2010 to 3m members and assets worth Sh1.32tn as of December 2019, according to the…
Author: NBM CORRESPONDENT
BY VICTOR ADAR In the age of coronavirus pandemic, the Government, non-governmental organizations and private employers should raise the bar to ensure that workers are able to save enough for retirement. Sadly, how do you deal with a situation that has left the two parties, employee and employer, facing hell? Anything that happens during this era, or doesn’t happen, is a story for another day – jobs or no jobs, companies going down, and broken families. Saving money is not a priority at the moment. Perhaps a different approach, and one that gives you control is what could work…
Across the economy, employers have suspended a total of Sh2.1b in contributions to pension schemes since March as companies took advantage of the authorized payment holiday to maintain their cash flows BY GILBERT NG’ANG’A State pensioner National Social Security Fund (NSSF), which is smarting from a series of historic financial scandals, faces a dicey future as the COVID-19 pandemic pulls millions of Kenyans out of income, denying them a chance to save for their retirement. Over one million Kenyans have reportedly been laid off, suspended from work or left with no gainful employment as the healthcare crisis snowballs into one…
BY JACOB OKETCH A group of politicians from Western region were involved in a scuffle with the police who were at their gathering to disperse a crowd that had apparently contravened the guidelines for containing the Covid-19 pandemic. What baffled me about that encounter is that the Mumias East MP Hon Benjamin Washiali accosted a senior police officer whom he blamed for persecuting them yet they were doing the bidding of his fellow tribesman, the Deputy President William Ruto. To him, it did not matter that they were contravening the law, as long as the one in charge was tribally affiliated…
By Gilbert Muyumbu In understanding how the LSK attempted to restrain the Jomo Kenyatta regime from excesses, it requires clarity in two main areas. First, we need to understand the general state of rule of law under the Kenyatta rule, and second, we need to interrogate Kenyatta government’s attitude towards systematic oversight and restraint, which come through both horizontal and vertical accountability, by tracing the relationship the government built with institutions emerging out of these two types of accountability. Establishing facts in these two areas would provide a useful background from which to explain how LSK faired in its attempts…
The subject is law. After eight years of legal practice, one of those as Managing Partner at G.M. Gamma Advocates LLP, Gad Ouma’s litigation presence is lithe and assured. He represents a diverse portfolio of corporate clients, personalities and state corporations, including Kenya Power – he successfully navigated a class-action suit for the latter. Establishing the firm in July 2019 as a limited liability partnership based in Nairobi, he and his partners quickly realized that the Firm had grown exponentially with clients across the various regions in the country and, with just months into their operation, established the Mombasa Branch…
BY GAD WESONGA India’s founding father Mahtima Gandhi’s counsel that the true measure of any society can be found in how it treats its most vulnerable members provides an opportunity to peep into the concept of inclusivity especially in hospitality industry where our very best in nobility is expected Inclusivity is the practice of providing equal access to opportunities and resources for people who might otherwise be excluded or marginalized, such as those having physical or mental disabilities or belonging to other minority groups. This definition is cognizant to the fact that people with disabilities are more prone to exclusivity…
PWDs are stigmatized, and seniors are abandoned or left to fend for themselves but through deliberate actions from national, regional and international sectors, we can safeguard their dignity, restore smiles and touch lives, one person at a time — Judy Muriithi BY GAD WESONGA In February 2017, Judy Muriithi started a tour and safaris company called Lorna Safaris. Her noble objective was to provide services to people with disabilities. She then coined the slogan come the way you are and set to touch the lives of this vulnerable group. It is not the destination where you end up, she says,…
Dr Catherine Adeya Weya has been appointed the new director of research at the World Wide Web Foundation. She will be replacing Carlos Iglesias, who has served as interim Research Director. Prior to the new role, she had served as director of Business Process Outsourcing at the Ministry of ICT in Kenya. In 2013, she was appointed as founder chief executive of the Konza Technopolis Development Authority, and has led the development of the East Africa Centre for Internet Governance and Policy (CIGAP) at the Strathmore University in Nairobi. Dr Adeya is also a non-executive director at Standard Chartered Bank…
Standard Chartered has extended a credit line to Gertrude’s Hospital to assist in the response to the Covid-19 pandemic. The bank said that Gertrude’s Hospital was one of the companies to complete a draw-down from its global $1 billion (Sh108b) Covis-19 financing commitment, underscoring its ongoing efforts to support local businesses in the pandemic response. The hospital will receive a credit of Sh200 million to fund its operations in the wake of the disruptive Covid-19 pandemic. According to Robert Nyarango, Gertrude’ s chief executive, the pandemic has put much pressure on hospitals and the loan will provide cash flow to…
