By Perminus Wainaina I recently met John, a business owner who had fully taken up his business functions to reduce over reliance on employees who under perform. He realized that everyone, including the management team, did not deliver results. There was need for accountability, initiative, and trust among the different departments. He tried to salvage the situation by revising the salary for the employees, but it did not work. The team was still disengaged, and he spent much time firefighting and recruiting due to a high turnover instead of focusing on the core business. He was so frustrated that he…
Author: Ruqaiah Al Meri
As of Thursday, February 15, 2024, Bank of Africa in its ‘daily exchange’ rates, bought US dollar at Sh148.10, and sold the same at Sh152.9. On the same day, the lender bought British Pound Sterling (BPT) at Sh182.81 to sell at Sh195.83.
The proposal to raise VAT from 16% to 18% is part of the government’s efforts to generate additional revenue to fund the ambitious programs and initiatives outlined by President William Ruto’s administration The National Treasury has unveiled a series of tax proposals to strengthen the government’s revenue, in line with President William Ruto’s development agenda outlined in the Kenya Kwanza’s medium-term debt strategy draft for the period 2024-25 and 2026-27. Treasury intends to harmonize Kenya’s Value Added Tax (VAT) rates with those of the East African Community (EAC) member states to create consistency within the region. While Kenya currently levies…
The initiative has so far disbursed over Sh450million seed funding impacting close to 692 Kenyan entrepreneurs, and aims at strengthening Kenya’s path towards sustainable, climate-resilient development while achieving low carbon climate resilient development By Silas Apollo Financial partner of the Tony Elumelu Foundation, United Bank for Africa (UBA) Kenya has launched a call for applications for the #BeGreenAfrica Initiative, an entrepreneurship programme that seeks to address Africa’s youth unemployment. According to UBA Kenya CEO and MD Chike Isiuwe, the programme targets entrepreneurs under the age of 35 years, with new or existing “green businesses” in Kenya, with the deadline for…
The global business process outsourcing (BPO) market is currently valued at more than $262 bn, with African countries continuing to emerge as the next growth frontiers By Silas Apollo The government will work tirelessly to maintain the country’s competitiveness as an ideal destination for ICT-based export-led labour services. This is according to the State Department for Information Communications Technology (ICT) and Digital Economy Principal Secretary John Tanui who said that the government was keen on working with investors to help spur growth of tech investments in Kenya. Speaking when he toured the Nairobi operating hub for Sama, a provider of…
The partnership is expected to bring 100,000 Somalis into the digital economy in 2023 A technology company in the payments industry, Mastercard, has partnered with SomBank to promote the adoption of digital payment solutions in Somalia. The partnership with SomBank – a financial institution in Somalia will allow the lender to issue and accept card payments, providing customers with a safe and secure, payment solution for various transactions, including purchases, withdrawals, and online payments. It also seeks to bring more Somalis into the digital fold, with a target of about 100,000 Somalis expected to join the digital economy in 2023.…
The beneficiaries received construction starter toolkits valued at Sh50,000 to make them ready for the job market, internship, apprenticeship placements as well as labour market linkages 51 dependants of the Kenya Defence Forces service men and women aged 18 to 25 years have graduated from the first cohort of technical and vocational training in plumbing and electrical installation program. Backed by the Family Bank Foundation and Military Wives Association of Kenya, the three months pilot phase training is aimed at enhancing the employability and entrepreneurial opportunities of the young men and women anchored under the Tufuzu Youth Development Programme. “If this effort and the…
BY SILAS APOLLO Surgical teams will now rely on a new tool to help them improve accuracy and efficiency in the operating room thanks to Lifesaving Radio, an artificial-intelligence-powered healthcare radio station.The NextMed Health technology features over 30 hours of music clinically suited for peak surgical performance, and will allow surgical teams to receive custom-curated operating room playlists and personalized shout-outs and commentary from DJ AI Angus by simply typing away their names, hospital/facility, and procedure on Lifesaving Radio online portal after signing into Spotify premium account. The radio station streams the new rock band AC/DC-inspired album dubber “Highway to…
Micro-finance provider aims at helping reduce road accidents A micro-finance company that specializes on logbook loans, Mwananchi Credit has launched #DriveSafe campaign to help in addressing increased road accidents on Kenyan roads. The firm says it is committed to promoting road safety and upholding its core values of care and diligence. Traffic accidents have become a significant concern in Kenya, with 22,000 people having been involved in accidents in 2022 alone, as per statistics by the National Transport and Safety Authority (NTSA). This has led to devastating consequences for individuals, families, and society. “We have always believed in caring for…
Oil and gas exploration and production firm Tullow Oil has acquired complete control of the Turkana County-based “project oil Kenya” following the withdrawal of its two joint venture partners, Africa Oil Corp and Total Energies from the project. With the exit of the two firms, Tullow will assume a 100% equity position, subject to the government’s approvals. The company is also expected to continue its work with the government and its host communities to make the region a significant energy-producing province. Tullow Kenya BV managing director Madhan Srinivasan, while reiterating the firm’s commitment to ongoing work in the South Lokichar basin…