Author: David Indeje

Women in manufacturing can now leverage on a partnership between Kenya Association of Manufacturers and SBM Bank Kenya to access finance. In a meeting held on Friday, SBM Bank Kenya CEO, Moezz Mir noted that the partnership will play a critical role in facilitating access to finance to enable women-owned and lead businesses take up opportunities within the manufacturing sector. “Access to capital remains a hindrance to entrepreneurship, business growth and expansion. This is especially true for women-owned and run businesses due to the reliance on traditional modes of finance that are heavily reliant on collateralization of assets,” Mir said.…

The Kenya Court of Appeal on Friday recognised that LGBT+ people have a right to associate. In a 3-2 decision, Justices Philip Waki, Asike Makhandia and Martha Koome agreed with an earlier High Court ruling that stated LGBT+ people have a right to form an NGO and blocking them was a denial of their fundamental rights. The NGO Coordination Board had sought to deny LGBT+ Kenyans the right to associate through an appeal. Justice Philip Waki told the court: “The issue of LGBT is rarely discussed in public. But it cannot be doubted that it is an emotive issue. “The…

Kenya’s central bank accepted Ksh 16.3 billion of the 25-year amortised bond (IFB1/2019/25) on offer at an auction on Wednesday attributed to its unattractive and duration risk associated with long-term papers. The Central Bank of Kenya (CBK) had offered  Ksh 50 billion of the fixed-rate Treasury bonds with a 12.2% coupon with proceeds expected to partially fund infrastructure projects in transport, water, and energy sectors. It received bids worth, Ksh 29.37  billion, but accepted Ksh 16.30 billion of bonds, ‘ indicating that bids were largely not within ranges the Central Bank of Kenya (CBK) deemed acceptable,” said Cytonn Investments. The…

As many as 35% of  Kenyan family businesses feel vulnerable to digital disruption and 59% feel vulnerable to a cyber-attack according to new research from PwC Kenya. This is higher than the global average. Its Kenya’s report themed ‘The values effect: PwC 2018 Family Business Survey’ shows family enterprises are adrift in a sea of confusion when it comes to thriving in the digital economy. For family business, the first point of call to inspire innovation may be the next generation of family members. -Alex Muriuki, Associate Director, Technology Service PwC Kenya The specific technological advances cited as challenges by…

A new survey from PricewaterhouseCoopers (PwC), reveals that 17% of Kenya family business owners report having a robust, documented and communicated succession plan in place, compared to 15% globally. PwC Kenya’s report themed ‘The values effect: PwC 2018 Family Business Survey’ however, shows that family businesses in Kenya have plans to grow over the next 5 years with 83% of survey respondents remaining confident of their businesses growth potential. Thus, PwC with a core business mandate of delivering quality in assurance, advisory and tax services, calls for more family businesses to plan early and explicitly communicate with their successors. “Succession…

Carbacid Investments plc, an investment holding company that has invested in carbon dioxide gas production processing and marketing through its main operating subsidiary, Carbacid (CO2) Limited, has issued a profit warning for the full year. It has reported a 36% dip in Profit After Tax.   “Based on the company’s unaudited financial results for the first six months ended 31st January 2019 and the company’s second-half forecast particularly as regards the investment portfolio, profit for the full year is projected to be at least 25% lower than the previous financial year,” said Nalin Kothari, the Company Secretary on behalf of the…