Author: 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.

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…

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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…

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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…

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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…

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World Bank has approved funding valued at $1.2 billion to help Kenya address challenges that had overshadowed its economy, including tight liquidity pressures, depressed investor confidence and limited capital inflows that had resulted in a rapidly depreciating shilling. The support, which is under “Kenya Fiscal Sustainability and Resilient Growth Development Policy Operation (DPO)”, will not only support policy and institutional reforms, but also address structural constraints of the country’s public finances, alleviate fiscal pressures and promote a more efficient and sustainable budget. It will also foster more competitive and inclusive product and labor markets and strengthen climate action, thus building…

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Family bank has appointed architect Francis Mutai Mungai as the new chairman of its board of directors, subject to regulatory approvals, taking over from long-serving Chairman Dr. Wilfred Kiboro who will be retiring. Mr Mungai, a holder of a Master’s Degree in Architecture from the University of California, Los Angeles (UCLA) and a Bachelor of Architecture degree with First-Class Honours from the University of Nairobi, joined the board of Family Bank Limited in 2016 and has been serving as the Vice Chairman for the last two years. He is also a Fellow of the Architectural Association of Kenya (FAAK) and registered by…

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Absa Bank Kenya, which is a part of pan-African lender Absa Group, has kicked off county empowerment forums in a move that would support the Small and Medium Enterprises (SMEs) and boost growth for the sector across the country even as economic and operating challenges prevail. The forums, under the ‘Absa Business Club’, are expected to accelerate development of tiny customers with the first session organised in Nakuru County bringing together over 400 entrepreneurs across the Central and Rift regions. The last three years since COVID-19 have been particularly challenging for this sector due to the significant constraints resulting from the global operating environment,…

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The proposed motor circulation tax of 2.5 percent of the vehicle value, which is set at a minimum of Sh5,000 as per the Finance Bill of 2024, will increase the cost of motor insurance, the Association of Kenya Insurers (AKI) said in a statement issued on Friday, May 18. The association said the tax will push up the cost of motor vehicle insurance and urged Members of Parliament to throw it out or reconsider it as its implementation would hurt not only the insurance industry, but also the economy in general. “This ridiculous proposition means that we will ask policyholders…

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The service industry is big business, which covers a wide swathe of the market. The service sector has seen massive changes in recent history, many being attributed to outsourcing, automation and digital based business that have altered traditional business models. In 2019, Abbas Hirei Gassem left France and went back to Somalia to set up Somstay, an online booking platform that helps users to book apartments and hotels. The year he started, there were new apartments and hotels being built in Somalia, and his platform came in handy in connecting customers with investors. Leveraging on in-depth descriptions, photos, videos…

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It has been a tough call to charter the waters for smaller players. Mainly focusing on home functions, Ms Leja is fighting hard in a bid to grow Heri Recipes, a venture she started in 2014 The rush to embark on business without enough capital has left a majority of entrepreneurs broke. Try to picture starting a business from scratch and join the dots. You may never save enough to start one, and with highly priced loans, uncertainty looms, so finding the right combination of specific needs is crucial. Unfortunately, business, like life, seems to have no rehearsals.  Well, it…

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