Smart Times

NAIROBI, Kenya Nov 29... The partnership will deliver agri-fin-tech services for rural communities, high productivity climate-smart farming and state of the art agro-processing facilities creating new markets for at least 100,000 rural households over the next five years  The investment in partnership with Kenya development corporation (KDC) will adopt a development approach in the agri-food sector , which seeks to improve food security for Kenya and the region  "Kenya needs a champion organization to provide leadership and prudent investment ,to develop inclusive , scalable, market based , environmentally sustainable and high productivity agri-food systems" said Rebecca miano, Cabinet secretary Ministry of Investment, Trade and Industry. In addition the venture will reduce Kenya's dependance on importing food commodities by approximately $200 million annually thus reducing Kenya's trade deficit  "At KDC we are commited to fostering resilience and ada

NAIROBI, Kenya Nov 29... The historic event will take place in the margins of COP28,  bringing together 650 plus young people from over 150 countries with industry leaders and energy experts , championing youth participation in driving an eqyitable clean energy future  The summit provides a transformative space for collaboration on energy solutions, engaging over 30, 000 young people in virtual also it serves as a catalyst for action and entrepreneurship supporting 15 youth led clean energy start ups in priority regions through training and seed funding "Since its founding in 2009, student energy has become the world largest youth led organization working on energy , empowering a network of 50, 000 young people in over 120 countries accelerating a transition to a sustainable and equitable energy future" said Andrew steer, President and CEO of the Bezos Earth Fun In addition , SES 2023 act as a launchpad for youth climate activities and advocates , training and sup

A photo of Iconic KICC building in Nairobi NAIROBI, Kenya Nov 28...  Kenya's National Treasury unveils new privatisation programme as the state set to divest from 11 entities including Kenya literature Bureau. The entities include Kenyatta International Convetion Centre (KICC) which government has 100 percent shares  Kenya Literuature bureau with 100 percent shares by the government,  National Oil cooperation of Kenya (NOCK) also Government commanding 100 percent shares  Kenya seed company limited with 53 percent (ADC) shares , Mwea rice with NIA- 55 percent shares Rice growers multipurpose coperative society limited with 45 percent  In addition Western Kenya rice mills limited with NIA 74 percent , Ahero scheme 11.7 percent , West Kano scheme 5.7 percent and Bunyala scheme 6.1 percent  Kenya pipeline company is also set for sell where governemt commands 100 percent, Numerical machining complex where KRC has 51 percent and Kenya shipyards 49 percent  New Kenya coperatat

Jacqueline Mugo,Executive Director and CEO Federation of Kenya Employers  NAIROBI,Kenya Nov 25... The Federation of Kenya Employers (FKE) has reported that in the formal private sector between october 2022 and December 2023 70,000 employees lost their jobs.  "The employment  state is still very fragile and we receive notification from employers to declare  redundancies ,we are also conducting survey from Employers to determine the impact of increased costs on jobs" reads a statement by FKE  In addition about 40 percent of employers have reported that they are planning to reduce the number of employees to meet the increasing cost of operating in the country,FKE will be launching the full survey report on jobs trends in December 2023  Subsequently costs of capital in the country remains high making it hard for the private sector to operate ,interest rates, inflation ,market conditions and government policies are among the factors that has affected costs of capital  On June 26 2

Absa Bank Kenya PLC Managing Director Abdi Mohamed  NAIROBI,Kenya Nov 25.. .Absa Bank Kenya PLC has reported net earnings of Kshs.12.3 billion for the nine months ended 30 September 2023, a 15 percent increase over the same period last year, driven by double-digit revenue growth across core business segments. The Bank recorded a 20 percent growth in revenue to Kshs.40.2 billion underscored by balance sheet momentum as it continued supporting individuals, business and corporate customers play their rightful role in the country’s economic growth and development Loans and advances grew by 14 percent to Kshs.331 billion driven by secured and general lending subsequently net interest income rose 26 percent to close at Kshs.29.3 billion. Customer deposits grew by 26 percent to Kshs.354 billion, supporting the loan book growth. “We are inspired by the positive progress we are making in the execution of our strategy focused on building a modern-day consumer financial services business, becomin

President-elect of Republic of Liberia , Joseph Boakai NAIROBI, Kenya Nov 21... The chairperson of African Union commission, H.E Moussa Faki mahamat congratulates president- elect Mr Joseph N Boakai for his victory I Liberia's presidential run off elections held on 14 November 2023   Mr Mahamat further commends Liberia's election commisions and all stakeholders for the successful conduct of peaceful and credible elections The chairperson further invited all parties to countinue to display maturity and embrace dialogue to consolidate democracy, inclusiveness, the rule of law, peace and security and enhance inclusive socio-economic for the people of liberia  "I applaud the statemanship of the outgoing  president George weah for gracefully accepting the outcome of the election" said Faki "The chairperson reaffirms the determination of the AU to countinue supporting  the republic of Liberia, in collaboration with regional bodies and international partners

NAIROBI, Kenya Nov 21... At around 1700 hrs a Kenya Air Force multipurpose  helicopter model Mi-171E crashed in Buna, Wajir county  All crew and passengers on board  disemberked safely The helicopter was on relief supply duties in Moyale, marsabit county and Buna in wajir county  "The cause of the crash  will be established after investigations" reads a statement by KDF 

NAIROBI, Kenya Nov 16...  The leading digital payment service provider clinched the award just two months after unveiling a new strategy aimed at expanding its customer base both in Kenya and diaspora market "This recognition is a testament to our commitment to revolutionising digital payments and fostering financial inclusion" said Daniel Njoroge , Chief Operating officer Sasapay ADEA organizers said that the award serves as a catalyst for motivating Sasapay to persist in fostering innovation , inclusivity and sustainability within the digital economy  "Acknowledging these stakeholders is not only a sign of appreciation but also a commitment to nurturing the positive impact of the digital economy on the society" said Akin Naphtal, InstinctWave Group CEO , and exucutive publisher  Sasapay's strategy is ensuring secure payment experience for various businesses which includes SMEs in general trade, healthcare facilities , educational institution, trans

During the launch of Xaidi App  NAIROBI, Kenya Nov 15...  The new Xaidi App Kenya's first AI powered health coach is set for beneficial to families with children with special needs to help in their day to day challenges and opportunities in their healthcare  The innovative AI app laverages on data from reknown research institutions with information and assistance to special needs children and caregivers done in English and Swahili to simplify the journey  Xaidi is free, first at its kind community health assistant App designed to help parents of neurodivergent children feel more supported and confident in handling learning and thinking differences  "Children and young people with developmental disabilities are a large and growing population across the globe , these children needs have however been neglected in health systems planning policy provisions for health" said Philip Nzenge,  Deputy director, Directorate of children services. According to the UNICEF 20

NAIROBI, Kenya Nov 15...  Cabinet Secretary for Interior and National Administration has published new intended charges, fees and levies for the same services to take effect on January 1, 2024 The State Department for Immigration and Citizen Services has been directed to conduct and complete public participation as soon as possible, but in any case, not later than December 10, 2023 In addition the new intended charges, fees and levies have been adjusted to accommodate views of the public already received following the publication of the revoked Gazette Notices Subsequently the intended revised charges, fees and levies are informed by the need for Kenya’s self-reliance in financing the National Budget "On the particular issue of acquisition of National Identity Cards by previously not registered citizens, the Government shall defray the costs of the revised charges, fees and levies through a waiver for indigent Kenyans who demonstrate inability to pay" reads a stat

NAIROBI, Kenya Nov 15... The Nairobi based C-suite advisory firm, P&L consulting is making waves across boarders as it officially steps into the vibrant Tanzania market , marking a significant milestone in its decade-long journey  "I am confident in the growth opportnities that Tanzania's booming private sector presents and we are earger to contribute to the country's economic ascent with our unwavering commitment to fostering effective communication" said founder and CEO , Mercy Randa  The world bank anticipates Tanzania’s GDP growth rate to hit its long term potential reaching around 6 percent by 2025  Businesses in the country are spearheading growth by fostering job creation, innovation , contributing to tax revenue and promoting fair competition, in addition the country's inflation consistently lower than many in the region, has been on the decline since start of 2023 Since its inception in 2013,  P&L consulting has earned aclaim as a trus

NAIROBI, Kenya Nov 14... Energy and Petroleum Regulatory Authority (EPRA) has announce new fuel prices on its monthly review Super petrol remain unchanged while that of diesel and kerosene decrease by KES 2.00 per litre  "The prices are inclusive of the 16 percent Value added tax (VAT) in line with the provisions of finance act 2023 , the Tax (amendment) act 2020 revised rates for execise duty adjusted for inflation as per legal notice No. 194 of 2020" reads a statement The new fuel prices for November will see super petrol retail at KSh 217.36 , Diesel Ksh 203.47, Kerosene Ksh 203.06 per litre respectively 

An image of Richard Ngatia addressing at a past event  NAIROBI, Kenya Nov 14... Ngatia replaces Toufiq S. Turky, whose tenure came to an end earlier this month The business mogul will lead the EACCIA which serves as the apex chamber for all the countries that compose the East African Community (EAC) member states In addition Ngatia is also the chairman of the General Assembly of the Great Lakes Region Private Sector Forum, a position he attained in 2019 He took over the leadership of the Kenyan Chamber just before the world plunged into the Covid-19 pandemic that affected the economic status of the business sector in the country but amid the turmoil, managed to steer the KNCCI into unprecedented successes During his tenure as KNCCI President, Kenya was able to embark on an aggressive campaign to open more market opportunities abroad and deepen trade ties with traditional allies "I am happy to pass on the baton to Ngatia so that he can facilitate the creation of an atmo

NAIROBI, Kenya Nov 13... Following Government declaration of Monday 13th November as a National holiday set for tree planting Kenyans across different parts of the country turn up as the rainy season also in place with government goal to plant 15 billion trees by 2030  In Nairobi section of city residents started planting early in the morning in various places within the city while president Ruto led others in planting trees in State house Nairobi The Nationwide tree planting day Is an urge for all kenyans to take initiative of planting atleast one tree with a theme of ' planting tree is planting future' 

NAIROBI, Kenya Nov 7... Nairobi securities exchange has seen a significant decline of investors as they flee the market close to nine months currently The number of foreign investors in the country reduced by 42 percent between January and September dumping shares worth KSH 19.5 billion leading to NSE to hit an 11 year low  Safaricom, Britam, KCB and Equity has seen its share prices significantly reduce Subsequently the number of local individual investors has also plunged In number from 1.9 million investors in December  to 1.2 million investors  Corporate investors on the other hand has seen its number reduced from 74, 500 to 41, 100 over the same period

NAIROBI, Kenya Nov 6... Energy CS Davis ChirChir says the war between Israel and Hamas could see fuel price rise to 150$ per litre He adds that the next fuel review by EPRA could see fuel prices in the country rise to Kshs 300 if the situation in the Middle East persists "We can't do much on the international pricing of petroleum, which has soared from $70 to $80 to $90, and with the Israel-Hamas war, the prices are likely to go up to $150. That would literally mean that our product will be going up to a price of Ksh 300 per liter at the pump. We hope it doesn't get there," said Chirchir

NAIROBI, Kenya Nov 1... Following the recent increase in fuel prices which has affected the cost of operations, Kenya Railways services has reviewed its prices Passengers using first class from Nairobi to Mombasa will now pay KES 4,500 up from an average of KES 3,000 Subsequently those using economy class from Nairobi to Mombasa will pay KES 1,500 up from KES 1,000 Commuters who ply Nairobi-Suswa route will pay KES 250 from KES 200 In addition children between 3-11 years travelling with adults set to pay half of the fare while children above 11 years set to pay full fare  The new prices will take effect beginning 1 st January 2024

NAIROBI, Kenya Nov 1... United Kingdom Royal family led by King Charles III and Queen Camilla have jetted In the country to a state visit  Kenya becomes the first African Country to have the royal family makes visit to the country  President William Ruto officially welcome th visiting royal family at statehouse, Nairobi and they are set to hold bilaterial talks and make several visits  The royal family is set to visit several places in the city amongst Uhuru Gardens and others and set to meet different people  While a section of kenyans demand that the royal family apologize for suppresion In the colonial days of different communities and tool in the country Narok senator Ledama ole kina has said that the should not be part of the Visiting  high family in the country  Instead the visiting should focus on strengthening ties between the two states in different sectors to promote too relationship  King charles III was crown as the King of United Kingdom following the death of