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Browsing: Doing Business in Kenya
- Business activity in Kenya increased in September, helped by the conclusion of the general election
- The Purchasing Managers’ Index (PMI) commissioned by Stanbic Bank shows that the growth in business activity in Kenya was the first recorded in seven months
- As a result, the headline index posted in September was at 51.7, up sharply from 44.2 in August.
- The reading signalled a renewed and modest improvement in overall business conditions.
A new report has shown that the conclusion of the general election in Kenya led to increased business activity in the country in September.
According to the Purchasing Managers’ Index (PMI) commissioned by Stanbic Bank, the growth in business activity in Kenya was the first recorded in seven months.
Business activity in Kenya was supported by customer demand growth following the general elections’ end.
It was also supported by an improvement in supply chains, encouraging firms to purchase more …
Kenyan businesses can now heave a sigh of relief after court has finally granted an injunction on minimum tax case.
In January this year, eight business associations representing the business community in Kenya have come together to call for the abolishment of the 1 per cent minimum tax introduced by the government.
The new bill which was to take effect on 1st January this year was introduced through the Finance Bill, 2020 (the Bill).
The bill was tabled in the National Assembly for debate and approval on 6 May 2020. This was a departure from previous years where finance bills would be introduced to the National Assembly after the reading of the national budget in June. This change was necessitated by recent constitutional interpretations issued by the court which barred the government from collecting taxes before the relevant tax provisions are approved by the …
CARGO dwell time at the Port of Mombasa has reduced from an average of 5.6 days in December 2020 to 4.6 days in January 2021.
This follows a raft of strategic operational changes implemented by the Authority. Recently Kenya Ports Authority took over the operations at Port Reitz Yard and reorganized the planning units of the logistics partners, increasing harmony in the operations of the unit hence increasing end-to-end efficiency in the port operations.
Dangerous cargo loading which was previously experiencing great delays due to distance of the loading zone from stacking blocks was improved by allowing it to be loaded at the now optimized line 12 at Port Reitz which is more efficient especially for cargo received at Container Terminal 2.
Additionally, centralization of the cargo handling processes and the recently introduced double deck wagons on the Standard Gauge Railway (SGR) have significantly contributed to increased deliveries to the …
Selected industry players in the maritime sector will be feted for remaining resilient in the hard economic times dotted by global pandemic.
Kenya Ports Authority’s second East Africa Maritime Awards (EAMA) ceremony is scheduled to take place on May 21, 2021 in Mombasa, Kenya.
The Awards which seek to recognize and award notable users of the Port of Mombasa and individual players are open to companies from across the breadth of the maritime sector, comprising the shipping, ports, services, engineering, and leisure marine industries with operations in Kenya, Uganda, Tanzania, Rwanda, Burundi, South Sudan, and the Democratic Republic of Congo (DRC).
Speaking in Mombasa, Kenya Ports Authority Ag. Managing Director Eng. Rashid Salim said the Awards had come at a time the local, regional and global economies were facing a period of significant challenge following the outbreak of the Coronavirus pandemic.
“The Covid-19 pandemic has tested all sectors of the …
Only 14 percent of Small and Medium Size Companies access legal services in Kenya according to a new report by KIOI & CO Advocates.
The report which was released at the launch of the firm’s virtual legal services, indicated that over 70 percent of SMEs do not access legal services citing cost as the major factor. With over 100, 000 companies registered in Kenya every year, very few make it to their third birthday mostly due to compliance issues.
“Some of the major legal problems affecting SMEs include poorly drawn contracts or no contracts at all, little or no legal advice on agreements, bank loans as well as failure to meet compliance set by the law ,” said Angela Kioi, founder, Kioi & Co Advocates.
According to Company Registrar there are 326 new business registrations across Kenya daily, however many SMEs cite prohibitive legal fees as a barrier to engaging …
When Covid-19 came flooding, small businesses were especially hard-hit with 31% stopping operations as a result of the crisis, according to Facebook’s State of Small Business report. But even in these unprecedented times, business must go on. Here are some strategies some businesses have successfully used to address the challenges you may also be facing.
Leveraging on strategic relationships
This has especially been seen in the food industry where restaurants and eateries are suffering from reduced foot traffic. Enter cloud kitchens. The lockdown period enabled restaurants, home cooks and chefs to offer food directly to customers via websites, apps, social media and mobile contacts. This new development has it that the global cloud kitchen market will grow to $236 trillion by 2026. For instance, Moh Wingz and Bwibo blew up during the lockdown period.
Also Read: Promoting Intra-Africa Trade: Pathway To Unlocking Africa’s Economic Potential
When Mucai Kunyiha Chair, Kenya Association of Manufacturers (KAM) was speaking on women’s representation in the manufacturing sector, he noted an important factor in the growth of the sector.
“When we think of successful manufacturing companies, we probably think of industries that have optimized their efficiency, development of quality products, and focused on service delivery. Whilst this is true, it is also worth noting the role of inclusivity and diversity in these businesses. The participation of women is critical in driving industrial growth.” He said.
Any conversations around increasing our competitiveness as a country without looking at women’s involvement are echoes in a hollow chamber. This is no longer a ‘good conversation to have’; it is an urgent measure that needs to be taken.
In a recently released report by the KAM, dubbed ‘Women in Manufacturing Mainstreaming Gender and Inclusion’, while women make up over 55% of
Bamburi Cement Group has defied COVID 19 adverse impact on the economy to post an improved pre-tax profit.
According to a statement from the firm the cement, the manufacturer has recorded a pre-tax profit of KSh 213 million ($1.96 million) for the first half ending June 30, 2020, up from KSh 23 million ($$212,431) in the corresponding period last year.
The growth in Profit before Tax has been attributed to the swift implementation of the “Health, Cost and Cash” action plan adopted by the Group at the onset of the Covid-19 Pandemic, to help mitigate the adverse impact of the crisis.
“The performance of the Group in the first half of 2020 is a testament that all of us; our employees, our customers, our stakeholders, and our communities, we can overcome adversity if we espouse the spirit of caring for one another.” Said Dr. John Simba – Chairman of the …
Kenyan Companies now looking to file mergers and exemptions will now be expected to access these services online following a move by the Competition Authority of Kenya to fully automate technical services.
This has been done by the authority in a bid to enhance its service delivery. Registering restrictive trade practices, abuse of buyer power and consumer complaints will also be expected to be done online on the Case Management Systems (CMS), “E-filing Portal”.
The portal was developed to meet the technical needs of the Authority, bench-marked against e-filing solutions rolled out by other agencies and taking into consideration the recommendations of our stakeholders.
Since July 1, 2019, the Authority has been receiving and processing applications lodged through the E-filing Portal which is accessible via the link: https://competition.cak.go.ke:444/
Reduction of turnaround time:
The automated system has resulted in a reduction in the time taken to process files since there is …
Kenya Association of Manufacturers (KAM) has signed a partnership deal with Ajua with an aim to drive the uptake of Kenyan made goods and unlock markets for local manufacturers.
Through Ajua, Africa’s first Integrated Customer Experience Company, the platform looks to drive feedback through the entire value chain from consumer to manufacturers.
Some of the biggest challenges holding back manufacturers in today’s market include reduced demand for their goods. This has forced up to 42% of manufacturers to cut production to less than half their capacity according to a report by KAM and KPMG. Manufacturers are also struggling to find the necessary tools to understand value chain connections and operate their businesses competitively. As the economy reopens, manufacturers need to quickly identify their key vulnerabilities and establish strong frameworks around their supply chains as they plan for their recovery post-COVID.