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