Cytonn Asset Managers Ltd (CAML) says it has received two licenses from the Retirement Benefits Authority (RBA) for the Cytonn Personal Retirement Benefits Scheme and the Cytonn Income Drawdown Fund. These additional two licenses come on the back of the December 2018 approval by RBA that gave CAML the license to manage pension funds. This means Cytonn can now manage segregated funds, personal pension funds, and the income drawdown fund. David Mwakitele, Head of Pension at CAML noted, “Our pursuit for these licenses from RBA was driven by the need to expand our pension’s product portfolio which is in line…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Coca-Cola Kenya has embarked on a nationwide transformational journey that seeks to educate secondary school students on the importance of a cleaner environment by taking care of plastics disposal. The initiative will involve 2,000 out of the 5,400 participating schools in COPA Coca-Cola. The schools were selected based on the reach of the current recyclers and collectors. The programme is part of the company’s wider commitment to impact behavior change in relation to plastic disposal. Kenya, amongst fourteen other Southern, East and Central Africa countries, have been earmarked to kick start the project, set up to stimulate plastic recycling industries…
The High court has extended orders suspending the government plan to impose a 1.5% housing levy on salaries of all employees as a contribution to the National Housing and Development Fund. The court on Monday extended the order to May 27, 2019. The order was issued on March 18 following a petition filed by the Central Organisation of Trade Unions (COTU). READ 1.5pct Affordable Housing Levy to Take Effect in May According to the Ministry of Transport, Infrastructure, Housing, Urban Development and Public Works in Kenya employers need to deduct 1.5% of their staff salaries as housing levy and submit…
East Africa’s Got Talent Show (EAGT) by Safaricom kicked off its pre-auditions, at Nyali School, Mombasa County on Monday. The gates were opened to the public as from 6.00am which saw hundreds of participants turn up from diverse cultures, social background, and age set showcasing their talents with the hope of been selected and proceed to the next stage to be held in Nairobi. The Nairobi auditions will be held next month at the KICC on June 1st and 2nd 2019. “We believe East Africa has a lot of talent and look forward to showing the world what amazing skills…
Social enterprise firm Sistema.bio, the largest biogas company in Africa, has announced plans to impact 100,000 farmers in Kenya with biodigester technology over the next three years. The move comes following the closure of Serie A Investment round worth KShs 1.2 billion to drive Kenya growth. The round was led by international investors ENGIE RDE, EU Electrifi Fund, AlphaMundi, Triodos-Hivos Fund, Dila Capital, EcoEnterprises and other impact and commercial investors. Sistema.bio Co-Founder and CEO, Alex Eaton noted that Kenya’s focus on food security within the Big Four Agenda creates great opportunities for agricultural investments and clean energy. “Sistema.bio is assembling…
Kenol-Kobil has been dropped from the two main indices of the Nairobi Securities Exchange and replaced with Kenya Airways and Total Kenya. This follows the approval by KenolKobil board and Capital Markets Authority for the French firm Rubis Energie to take over the oil marketer. A statement from the NSE said the company has been replaced in the 20 and 25 share indices by Kenya Airways and Total Kenya respectively. “The market index is reviewed periodically to ensure that it reflects an accurate picture of market performance,” a statement by NSE said. Total Kenya is the only oil marketer whose…