Former Nairobi Securities Exchange (NSE) Chairman, Samuel Njuguna Kimani, has been appointed as Nairobi Business Ventures Limited’s (NBV) new Chairman, as part of its new leadership changes. Samuel Kimani served as the Chairman of the Nairobi Securities Exchange for four years from June 2016 to July 2020. The Shoe and leather accessories retailer, also named Haresh V. Soni as its new Chief Executive Officer and Vasu Abotula as the Director of Corporate Affairs. Soni is the Chairman of Dubai-based Delta International FZE and founder of Shreeji Group of Companies. Abotula, is a co-founder of Nairobi Business Ventures and highly skilled…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
From July, Kenyans may have to pay more for calls and use of the internet if a proposal to increase excise duty on telephone and mobile data services is enacted. This is after Parliament’s departmental committee on finance and national planning proposed the excise duty be increased from 15 per cent to 20 per cent. The new amendment was initially not included in the Finance Bill of 2021. The Finance Act of 2018 introduced excise duty on telephone and mobile data services from 10 per cent to 15 per cent. Peter Ndegwa, the Safaricom CEO says if assented into law,…
Central banks across the world have shown greater tolerance to inflation since the outbreak of the Covid-19 pandemic. To be sure, despite record acceleration in prices in advanced economies, forward guidance from respective monetary authorities has continued to point towards prolonged ultra-easy monetary policies, as they view the current pressure as transitory. Locally, inflation has stabilized in the 5.0-6.0% levels so far this year and is projected to remain within the statutory target band of 2.5-7.5%. While downside risks from higher oil prices and supply constraints could see price increases quicken, the scope may be limited by persistently subdued demand…
Kenya will continue hosting World Rally Championship (WRC) Safari Rally consecutively until 2026, President Uhuru Kenyatta announced on 27th June. According to the president, the government has secured the hosting rights for the event from the International Automobile Federation (FIA) and the WRC after years of intense lobbying and preparations. “It gives me great pleasure, therefore, to announce, that we have agreed, with the International Automobile Federation (FIA) and the World Rally Championship (WRC), to continue hosting the Safari Rally in Kenya, every year until 2026,” said President Kenyatta “I commit the required financial investment towards another successful championship in…
Kenya 1. Top Performer- Prudmart 2. Partner of the Year- Computer Revolution Africa 3. Emerging Partner of the Year- Macrosec 4. Synchronized Security Partner of the Year- Infoview 5. New Partner of the Year- Revere Tech and Applied Principles 6. Individual Contributor of the Year- Sam Njagi, SimplifyIT 7. Distributor of the Year- Mart Networks 8. Small Business Partner of the Year- ManageIT 9. Mid-Market Partner of the Year- SimplifyIT 10. Public Sector Partner of the Year- Novel Tech 11. Healthcare Partner of the Year- Ace Technologies Ltd 12. Education Partner of the Year- Speed ENT 13. Enterprise Partner of…
Kenya’s current demand for wood products has hit 45 million cubic metres against a supply of 30 million. The government is keen to tap the potential of forestry in private and community land as it seeks to increase forest cover. Under a draft forest policy 2020, the government says it cannot achieve 10 per cent cover by only focusing on gazetted forests on public land managed by Kenya Forest Service. The draft policy says Kenya’s forest cover is 7.4 per cent, a far cry from the constitutional requirement of 10 per cent. The government has however committed to increasing the…