Nairobi Business Monthly is an insightful and authoritative monthly magazine focusing on Kenya and regional economics, policy, business news and opinion.
Nairobi Business Monthly is published by The Nairobi Business Monthly Limited situated at Mayfair Office Suites, Parklands Road. P.O Box 57731 - 00200, Tel: 0735 701702 or 0715 061658
State agency collects over Sh60bn unclaimed cash and shares
The Unclaimed Financial Assets Authority (UFAA) is holding more than Sh60 billion in cash and assets that it seeks to reunify with the rightful claimants. UFAA Board Chairman Francis Njenga said the state agency has collected Sh32 billion in cash and an additional Sh1.7 billion unit shares worth Sh3...
Big shout out to my newest top fans! đź’Ž Nagib Yusuf
Big shout out to my newest top fans! đź’Ž Nagib Yusuf fans
The affordable housing project in Thika town has given residents hope of owning a house in the busy town that is gearing to be elevated into a city in the coming years.
By Muoki Charles The affordable housing project in Thika town has given residents hope of owning a house in the busy town that is gearing to be elevated into a city in the coming years. Launched in January this year near the Huduma Centre in the town, the project is 20 percent complete, with seven
Nova Pioneer Tatu City School has been named as one of the top 10 finalists in the innovation category of “World’s Best School Prizes” education awards.
Nova Pioneer Tatu City School has been named as one of the top 10 finalists in the innovation category of “World’s Best School Prizes” education awards and will square it out for the top honours with other schools from the United Kingdom, Brazil, Italy, and Australia, among other regions. The ...
Energy and Petroleum Regulatory Authority reduces petrol price by Sh3, diesel Sh6.
EPRA reduces petrol price by Sh3, diesel Sh6 The price of petrol has reduced by Sh3, diesel by Sh6.08 per litre and that of kerosene by Sh5.71 per litre thanks to reduced landed cost charges of imported fuels between April and May this year, Energy and Petroleum Regulatory Authority (EPRA) said in a...
Eid Mubarak!
The government has unveiled an ambitious plan to resolve the perennial traffic congestion in the capital Nairobi, which has cost residents millions of shillings daily in wasted hours sitting in traffic.
The Kenya Urban Mobility and Growth Threshold Programme is expected to benefit more than 4.3 million people.
Dubbed the Kenya Urban Mobility and Growth Threshold Programme, the initiative aims to benefit more than 4.3 million people.
Kiboro retires as Family Bank chairman
Family bank has appointed architect Francis Mungai as the new chairman of its board of directors, subject to regulatory approvals, taking over from long-serving Chairman Dr. Wilfred Kiboro who is retiring.
https://nairobibusinessmonthly.com/kiboro-retires-as-family-bank-chairman-insider-mungai-takes-over/
Absa Bank Kenya launches county forums in Nakuru, Kisumu, Mombasa, Machakos, Mount Kenya, and the coast regions to support SMEs and boost sector growth despite ongoing economic challenges.
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...
Kenya Power has appealed to the government to implement a total ban on copper exports in a bid to stop the rampant cases of infrastructure vandalism plaguing the nation, particularly targeting essential utilities such as power transformers.
Kenya Power has appealed to the government to implement a total ban on copper exports in a bid to stop the rampant cases of infrastructure vandalism plaguing the nation, particularly targeting essential utilities such as power transformers. Joseph Siror, the managing director, scrap metal dealers sh...
After enduring nearly two years of a “winter slump”, the Chinese consumer electronics market is showing signs of recovery, with the growing popularity of artificial intelligence and foldable smartphones expected to provide a further boost to sales.
Chinese consumer electronics market is showing signs of recovery, with popularity of AI and foldable smartphones expected to boost to sales.
Richard Branson has acquired a stake in Finch Hattons Luxury Safari Camp at the Tsavo National Park in Kenya, further expanding his portfolio of exclusive properties in the country.
Richard Branson's luxury travel brand, Virgin Limited Edition, has acquired a stake in Finch Hattons Luxury Safari Camp in the Tsavo National Park.
Cost of loans up but inflation stable: Economic survey
The Central Bank Rate, which banks use as a benchmark in the pricing of commercial loans, rose to a high of 12.50 per cent in December 2023, a sharp increase from the 8.75 per cent in December 2022.
Both the cost of loans and the cost of living went up in 2023 compared to 2022, according to the 2024 Economic Survey Report that Treasury CS Njuguna Ndung’u released on Monday.
Kenya’s GDP grew at a rate of 5.6 percent in 2023, even as the world's real GDP slowed down to 3.1 percent, compared to 3.5 percent in 2022, according to highlights from the 2024 Economic Survey Report, which was launched on Monday, May 20th, in Nairobi.
Kenya’s national wealth, also known as Gross Domestic Product (GDP) grew at a rate of 5.6 per cent even as world real GDP slowed down to 3.1 per cent, compared to 3.5 per cent in 2022.
The Association of Kenya Insurers says 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 proposed motor circulation tax of 2.5 percent of the vehicle value will increase the cost of motor insurance, AKI has said.
Kenya and Uganda have signed an agreement that lays out a roadmap for the importation and transit of petroleum products through both countries.
Kenya and Uganda has signed an agreement laying out a roadmap for importation and transit of petroleum products through the two countries.
Kenyan scholar takes helm of regional libraries association
Prof Peter Gatiti is the new chair of the Standing Conference of Eastern, Central and Southern African Library and Information Associations (SCESCAL Council).
Prof Peter Gatiti is the new chair of the Standing Conference of Eastern, Central and Southern African Library and Information Associations (SCESCAL Council).
Small claims courts a boost for justice, says Ruto as 20 judges sworn in
The small claims courts were established by the Small Claims Act, 2016, which was assented to on April 1, 2016. This law was later amended by the Small Claims Court (Amendment) Act, 2020 before being gazetted through notice No. 3791 of 2021, the year that they started operations.
The establishment of the small claims courts has brought justice closer to the people and increase in the number of resolved cases.
Ethiopia’s ship, 'MV Abbey', docks at Lamu port with 60,000 tonnes of fertilizer, in what has been termed a major milestone that proves the viability of the Lamu Port-South Sudan-Ethiopia-Transport (LAPSSET) corridor project.
Lamu Port has received Ethiopia’s "MV Abbey", which imported a 60,000 metric tonnes of fertilizer meant for Southern Ethiopia.
County governments are set to receive about Sh391.1 billion as part of the equitable share of revenue in the new financial year after MPs last week adopted the Budget Policy Statement (BPS) for the 2024/25 financial year.
County governments are set to receive about Sh391.1 billion as part of the equitable share of revenue in the new financial year after MPs last week adopted the Budget Policy Statement (BPS) for the 2024/25 financial year.
Finance Bill, 2024 could allow KRA to spy on tax evaders
Kenyans are set to face additional taxes and amendments, if the bill is passed into law after being tabled in the National Assembly, with many expecting it to make life more difficult as the government looks for more ways to increase its revenue.
CS Prof. Njuguna Ndung'u has proposed to amend Data Protection Act, 2019, through the Finance bill, to grant KRA access to taxpayers’ data
The government aims to raise the number of users on its digital platform, eCitizen, to 30 million in order to push daily revenue collection from the platform to at least Sh1 billion by December 2024.Currently, the authorities collect Sh700 million on the portal, with a total user count of 13 million.
The government is keen on increasing eCitizen users to push daily revenue collection from the platform to Sh1 billion by December 2024.
The Kenya Revenue Authority is pressuring landlords to raise rents for their properties, which is likely to add another financial burden to already financially struggling tenants.
The taxman has sent out notices to property owners expressing concerns over the constant figures declared as rental income, asking them to adjust the amount to reflect market changes.
The Kenya Revenue Authority is pressuring landlords to raise rents for their properties, which is likely to add another financial burden to already financially struggling tenants.
The May edition of Nairobi Business Monthly magazine is now available! Secure your digital copy for only Sh150 by visiting our website at https://nairobibusinessmonthly.com or http://ekitabu.com. Send your feedback and contributions to [email protected].
Safaricom Investment Co-operative appoints Churchill Winstone as CEO
Safaricom Investment Co-operative has appointed Churchill Winstone Ochieng’ as its new CEO just a month after Sarah Wahogo, who served for two years left the company to pursue personal interests.
Safaricom Investment Co-operative has appointed Churchill Winstone Ochieng’ as its new CEO just a month after Sarah Wahogo, who served for two years left the company to pursue personal interests.
Librarians mark golden jubilee with performances and dances
Librarians from across Africa have celebrated the golden jubilee of the Standing Conference of Eastern, Central and Southern African Library and Information Associations (SCECSAL).
Librarians from across Africa last week celebrated the golden jubilee of the Standing Conference of Eastern, Central and Southern African Library and Information Associations (SCECSAL).
NEWS UPDATE: Schools to reopen on Monday, May 13, 2024, as directed by President William Ruto, following consultations with the Kenya Meteorological Department.
China's visa-free policies lead to surge in inbound tourism
The number of foreign travellers to China tripled in Q1 this year compared to 2023. The country issued 466,000 visas and documents to foreigners during this period, up 118.8 percent year on year.
A total of nearly 1.99 million foreigners entered China visa-free, an increase of 266.1 percent.
The number of foreign travellers to China rose threefold in the first quarter of 2024 compared with that in 2023, thanks to the country's visa-free policies.
Heavy rains have cut off traders' access to fresh produce from farmers in the neighbouring counties, leaving them with little choice but to pass down the additional cost to the consumer.
Heavy rains have cut off traders' access to fresh produce from farmers in the neighboring counties, leaving them with little choice but to pass down the additional cost to the consumer.
Nairobi
254
https://www.nairobibusinessmonthly.com/how-parbat-pindoria-made-it-to-billionaire-s-league/, http://www.nairobibusinessm
Be the first to know and let us send you an email when Nairobi Business Monthly Magazine posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.
Send a message to Nairobi Business Monthly Magazine:
Anonymisation
