Twenty-four Micro, Small, and Medium Enterprises (MSMEs) have received growth grants of KSh100,000 each after completing the Inuka Enterprise Accelerator Program, a banking industry-led initiative implemented by the Kenya Bankers Association (KBA) through the Centre for Sustainable Finance and Enterprise Development (CSFED). The enterprises selected for the pilot 12-week accelerator were drawn from key sectors — including manufacturing, agriculture, trade, textile, and leather— and were identified from the more than 130,000 MSMEs that have benefited from the broader Inuka Enterprise Program since 2018. KBA Chief Executive Officer Raimond Molenje noted that MSMEs are the backbone of Kenya’s economy, contributing over…
Author: Victor Adar
Victor Adar
Victor Adar is a seasoned journalist with a Diploma in Mass Communication (Print) from the Technical University of Mombasa. He has previously worked with Reuters, Go Places travel magazine, and Aden Associates International. Since joining NBM in 2012, he has become a key member of the editorial team, covering enterprise, corporate affairs, HR, and technology.
When Kenya-based steel miller Devki Group broke ground in Tororo, Uganda, on November 23, it signalled that demand for steel products is already substantial across East Africa. The USD 500 million mega project (Sh65 billion), scheduled for completion by the end of 2027, will raise Devki’s total regional investment to USD 1.1 billion. Billionaire industrialist Narendra Raval, the founder and chairman of Devki Group, is tightening his grip on the lucrative steel business, saying the new plant will help Uganda reduce its trade deficit. “This project will reduce the trade deficit of Uganda by over a billion dollar by not…
Once a year, there is a special siting where the president reports to parliament on the state of security as well as talk about accelerating economic policies as per article 132 (1)(b) of the constitution. This time, President William Ruto believes that Kenya has put in place strategies to “eliminate wasteful subsidies”, give relief to households by reducing inflation, and ensuring that Kenyan shilling against the dollar continues to be stable. But the irony is stark – Ruto celebrated economic expansion at a time when the households, particularly those at the bottom of the pyramid continue to grapple with rising…
Kenya Power (KP) has recorded a 470 percent increase in the uptake of tenders by businesses owned by young people, women and people living with disabilities (PWDs), awarding contracts worth Sh3.5 billion in the last financial year ended June 30, 2025. This compares to Sh614 million awarded to these groups in the previous financial year ended June 30, 2024, making the 2024/25 performance the highest in the last eight years. “Last year, we were intentional in meeting and sensitizing the youth, women and PWDs about procurement opportunities that exist for them within the Company. Our efforts have led to these…
Data and AI jobs in Kenya accounted for 36 percent, nearly triple the levels found in most European countries (10 to 14 percent), with fewer entry-level postings currently at 42 percent. A survey by Friedrich Naumann Foundation’s Global Partnership Hub in Nairobi and the Trends and Insights from Africa (TIFA) Research Limited, shows that Kenya’s tech talent pool is locally recruited most at entry levels where demand is high but pay lean. The report indicates that Kenya is quite big on AI and coding thanks to startups and, outsourcing, but for it to create job opportunities for its young ICT…
The Government of Kenya has been urged to set ambitious refill and reuse targets to help cut down damaging single-use plastics and transition toward sustainable packaging systems that protect the environment while creating economic opportunities. Hellen Kahaso Dena, project lead at Pan African Plastics Project at Greenpeace Africa, said on Friday, November 14 at the launch of “Refill and Reuse” festival at the National Museums of Kenya that enhancing refill and reuse models has the potential to create jobs while reducing the hidden costs of plastic pollution that burden governments and taxpayers. “Refill and reuse systems are not new to…
A financial services and business solutions provider, Pesapal, and KCB Bank Kenya are offering at least 10,000 fuel stations across East Africa the option to run on Forecourt Management Solution (FMS), which combines “operational technology” with innovative financing models to transform the petroleum retail sector. Fuel dealers in East Africa have generally failed to efficiently manage functions such as fuel dispensing, sales, inventory tracking, payments, and reconciliation. It is on the back of this that the roll-out of FMS will provide an integrated digital platform that streamlines fuel dispensing, sales monitoring, inventory tracking, payment processing, and financial reconciliation. The technology…
I&M Bank has introduced an online foreign exchange trading platform called “I&M Fx Direct”, which positions the lender as the enabler of efficient forex conversion. The launch of the new platform follows common inefficiencies of manual forex transactions, such as delays and the need for constant phone calls. But will it transform how individuals and businesses in Kenya and beyond manage their forex transactions? “We are empowering our business clients by giving them direct control over their forex trades. We want to encourage the adoption of electronic forex trading over traditional methods by showing the benefits of speed, transparency, and…
Supermarkets, e-commerce platforms and most businesses will remain a buzz for the better part of this month (November), with shoppers spoilt for choice on product brands to buy and big deals coming their way. Black Friday, which occurs annually on the fourth Friday in November and ends on the first week of December, is a day when stores and retailers temporarily lower their prices to entice customers to purchase more goods at unbeatable promotional prices. To dig more from this month-long shopping festival, major stores in town such as Carrefour, Naivas, Quickmatt and (even) Jaza are sharing curated product deals…
The partnership between Kenya Private Sector Alliance (KEPSA) and Microsoft tech firm that has led to the launch of the Kenya Artificial Intelligence Skilling Alliance (KAISA) is expected to meet high expectations of not only the local and foreign investors, but also that of people who use AI to work, learn and do business. Among the things that the KAISA platform will do is to coordinate AI skills development, innovation, and policy collaboration across key sectors of the economy. AI reveals more than innovation as it will contribute over $3.6 trillion to the global economy by 2034, with KEPSA revealing…
