The British High Commission Nairobi will support Micro, Small to Medium Enterprises (SMEs) in Kenya with a Sh667 million fund ($5.2 million) in another example of the UK being a long-term partner providing investment solutions that deliver growth and jobs. The ‘Listed SME Debt Fund’, sponsored by FSD Africa, aims to mobilise up-to Sh38.85 billion ($300 million) of sustainable finance to provide affordable credit to SMEs. Of this amount the funds targets to raise $240 million from domestic institutional investors and the rest from foreign investors. The fund will support at least 10,000 MSMEs; 50,000 households; create, protect and support…
Author: Victor Adar
Victor Adar
Victor Adar holds a Diploma in Mass Communication, Print, from Technical University of Mombasa. He has worked before for Reuters, Go Places travel magazine and Aden Associates International. As one of the old hands at NBM, having joined the team in 2012, Victor is one of the most reliable writers in the editorial team. He writes more on enterprise, corporate affairs, HR and technology.
Billionaire Elon Musk’s satellite internet service provider, Starlink, has suspended new subscriptions in Nairobi and surrounding areas such as Kiambu, Machakos, Narok, Murang’a and Nakuru regions thanks to a network capacity overload due to increased demand. The American satellite service provider’s bandwidth could not support additional subscribers, pointing to an overwhelming demand for internet connection at low prices. “Nairobi and neighbouring areas are currently at network capacity. This means that too many users are trying to access the Starlink service within Nairobi, and there isn’t enough bandwidth to support additional residential or roaming customers now,” Starlink says on its website when…
A head of the World Kiswahili Language Day to be celebrated on Friday, July 7, to recognize the global importance of Kiswahili in uniting communities across Africa, Chinese run social media platform, TikTok, said in a statement that #Kiswahili and #SwahiliTikTok hashtags will play a critical role in advancing positive impact of Kiswahili, a language that most communities speak – and enthusiasts use to share content. TikTok, a platform that has become a hub for inspirational content and practical creativity noted that the Swahili-speaking creators embrace food recipes and fashion tips to entertainment and language education to bring people together.…
The report said there is increased digital platform usage, with 42 per cent of Kenyans conducting at least half of their transactions online, emphasising the necessity for robust security measures and consumer education BY VICTOR ADAR Information and insights company, TransUnion, in its latest “Consumer Pulse Study” which said that amid widespread challenges, including protests, Kenyan households experienced a modest financial rebound in the second quarter of 2024 thanks to new business ventures, enhanced debt management, and less impact from job losses. The study, released amid widespread challenges, including weeks of protests that left over 40 people dead and scores…
Public Relations Global Network (PRGN) has partnered with a communications and advisory company, Newmark Group, to unveil Global Expert Panel (GEP) on tourism and travel for Africa to arm tourism and destination management organisations with deep local insights and data from source countries. The new initiative brings together communications and marketing experts and leaders from across the world and comes at a time when tourism and travel in Africa has experienced impressive growth since the start of the millennium, as highlighted by a World Travel and Tourism Council report. “To elevate Africa’s tourism sector, destination marketers must harness global capabilities…
The Communication Authority of Kenya (CA) has said it had no plans to control internet access during the national protests against the Finance Bill, 2024, which MPs passed on June 25 before a group of youth breached the National Assembly and destroyed parts of the Senate. In a statement released earlier in the morning, the regulator said shutting down Internet traffic or interfering with the quality of connectivity would go against core principles enshrined in the Constitution. “For the avoidance of doubt, the authority has no intention whatsoever o shut down Internet traffic or interfere with the quality of connectivity.…
Kenya’s hospitality industry is bouncing back from challenges posed by the Covid-19 pandemic and climate change related issues such as flooding and heavy rains. The industry continues to face innovative and vibrant activities across the market, with various players working tirelessly to improve tourist experience, a development that has seen the entry of big hotel chains into the market. Among the new entrants include Pullman Hotels and Resorts, a brand by Accor set to be unveiled formally on June 20, 2024. The hotel, based in Upper Hill, Nairobi, is literally taking art out of the museum, from local art in…
The government will protect economic recovery while tackling the country’s debt in the 2024/25 financial year whose total expenditure target is set at Sh3.9 trillion, National Treasury Cabinet Secretary (CS) Prof Njuguna Ndung’u said on Thursday, June 13. Presenting the final version of the budget in Parliament, the CS said total revenue target is set at Sh3.33 trillion, with fiscal deficit expected to be 3.3 per cent of gross domestic product (GDP), compared to a revised deficit of 5.7 per cent of the 2023/24 fiscal year. He also added that economic growth will be in line with the ministry’s expectation…
Kenya will spend Sh4.002 trillion in the financial year 2024/25 starting this July after the National Assembly approved the budget estimates, which was revised as an effort to get an inclusive budget. The development came on June 6, after the adoption of the Report of the Budget and Appropriations Committee, following a general debate in the House which eventually saw it considered and approved by Committee of Supply, which operates similarly to a Committee of the Whole House on a bill, approving state expenditure on a programme-by-programme basis. Apart from education sector, which accounts for the largest share of the…
Many years ago when Agness Njau worked for a hotel chain, Heritage Hotels, as a receptionist, little did she know that one day she would be an entrepreneur. She is the founder and director of Zuri Travels, a company that was registered in 2014 May to offer services such as airport transfers and hotel bookings, ticketing and visa assistant, corporate and leisure travel, and conferencing. The move to start a travel company was not out of the blue. Ms Njau was a receptionist but would interact with people in reservations department. She would admire the way clients would visit their…