Browsing: Kenya

Kenya and Jordan are in talks on deepening trade and bilateral ties, in the latest of President Uhuru Kenyatta’s charm offensive to attract investments to the East African nation.

Kenyatta on Tuesday held talks with His Majesty King Abdullah II of Jordan where the two leaders discussed the progress in trade and bilateral relations between the two countries.

The leaders, who want their two countries to establish special status relations, directed their respective ministries to fast track the implementation of bilateral trade agreements.

READ ALSO:Kenya signs 8 treaties spreading wings to remote territories

President Kenyatta and King Abdullah II also discussed the progress by their respective nations in the achievement of the Sustainable Development Goals.

President Kenyatta and the Jordanian King met on the sidelines of the Future Investment Initiative (FII), a global financial conference hosted in Saudi Arabia where 40 countries are taking part.

The two leaders also …

DIB Bank Kenya Limited, a wholly owned subsidiary of Dubai Islamic Bank PJSC, has opened a new branch in Kenya as it moves to expand its network in the East African nation.

The latest branch was opened in the coastal town of Mombasa, bringing to two, the number of the bank’s branches at the port city.

This comes barely a week after launching a new branch in Nairobi’s Eastleigh suburb.

Located East of the Central Business District, Eastleigh is predominantly inhabited by Somali immigrants. It is described as “Little Mogadishu”, as well as “a country within a country with its own economy” on account of its robust business sector.

The second Mombasa branch is located at Bondeni area which is also largely inhabited by the Muslim community.

According to the bank’s management, the new branches are geared at enhancing the bank’s reach at key business locations to cater for its …

The Kenya Power Board of Directors has appointed Bernard Ngugi as the Managing Director & Chief Executive Officer of the Company.

This brings to an end to the short-term leadership of outgoing acting managing director Jared Othieno who has been at the helm of the company since July last year, when he temporarily took over to replace former graft embattled MD Ken Tarus.

READ ALSO:Kenya Power appoints interim management team after arrest of top bosses

Prior to his appointment, Mr Ngugi was the company’s general manager in charge of Supply chain.

The appointment now places a substantial boss in the top office at the Nairobi Securities Exchange listed firm , which has been struggling with dwindling profits in recent times.

Mr Ngugi has over 30 years’ experience in the company with expertise in financial and revenue accounting, internal audit and supply chain management. He holds a Master of Business …

Kenya is on the right path in the fight against corruption, The International Monetary Fund has said.

IMF Director for African Department Abebe Selassie has commended President Uhuru Kenyatta for spearheading the war against corruption, saying the country was well.

According to Abebe, the IMF is satisfied with the stable economic growth that averages between 5.5 per cent and 6.0 per cent as a result of the ongoing fiscal reforms that the Kenyan Government is implementing to ensure macroeconomic stability.

READ ALSO:Kenya whets investor appetite with Special Economic Zone

“Because of this, Kenya is a leading light in terms of economic reforms and growth in the region,” Selassie said.

The Director for the African Department of the IMF spoke on Monday when he paid the President a courtesy call at State House, Nairobi.

During the meeting, the President and Mr Selassie discussed the relationship between Kenya and the Bretton …

The Kenyan government is considering a Ksh1.6 billion ($15.4million) financing option for smallholder tea farmers across the country to help them diversify their products.

Agriculture Cabinet Secretary Mwangi Kiunjuri has said that the proposal, which is now before the Head of Public Service, Joseph Kinyua, and the Cabinet for consideration, involves a financing model for smallholder tea factories to set up black orthodox tea production units.

READ ALSO:Kenyan tea farmers capture World Bank’s climate change deal

Black orthodox Tea is loose tea which is produced using the traditional method of tea production:plucking, withering, rolling, oxidation and drying.

It has an aroma that is easily identifiable and fetches more prices at the tea auction than the normal tea – thus the need for enhanced production of this type of tea to help cushion farmers from the volatile prices associated with traditional teas.

“In a bid to help our tea farmers …

Women Enterprise Fund (WEF) in collaborating with Kenya Bureau of Standards (KEBS) and other organizations have partnered to provide support for women running small and medium-sized business to standardize and improve the quality of their products.

The partnerships has seen 13,500 beneficiaries trained by WEF receive technical guidance to improve their products ensuring they meet industry standards.

READ ALSO:KEBS to issue new Import Standardization Marks to curb illicit trade

Once the products are standardized, the women are eligible to apply for certification, which the Fund pays a subsidized rate of Ksh5,800.

As a result, their products will qualify for the Kebs Diamond mark of quality which allows them to access local and international markets.

READ ALSO:Zambia to connect women SMEs to international markets by 2020

“A key mandate for WEF is to provide business support services including linkages for the women entrepreneurs to improve on the quality of …

Kenya’s leading telecommunication company-Safaricom on Wednesday marked 19 years since the company launched.

During the celebrations, the Nairobi Securities Exchange (NSE) listed telco unveiled a new strategy and renewed its commitment to its customers.

Under the new structure, Safaricom is committing to be ‘simple, transparent and honest’ across all its products and operations.

READ ALSO:Majority of Kenya’s job-seekers dream of working at Safaricom

As part of its efforts to simplify its products, the company has unveiled a new data plan, and a new calling and SMS plan that will respectively offer data bundles and calling minutes with no expiry.

Both data bundles, calls and SMS with no expiry are immediately available on *544#

“Over the last 19 years, we have come a long way together with our customers. As we celebrate our anniversary, it is a unique opportunity to reevaluate our operations to ensure that we remain relevant to …

Kenya’s public transport sector is chaotic and only those who are part of the system survive the anarchy…

Kenya has unveiled a Special Economic Zone (SEZ) in its latest move to lure investors into supporting the country’s industrial growth.

Located at the coastal city of Mombasa, the Dongo Kundu Special Economic Zone launched by President Uhuru Kenyatta over the weekend is designed to be a multi-sectoral zone comprising of Industrial Parks, Free Trade Zones, Free Port, Dongo Kundu Port, Tourism Zone (MICE), Business Service Parks; and Commercial and Residential Zone.

READ ALSO:Kenya attracts major American Investors despite decelerating economy

The SEZ will be developed in three phases with the first phase expected to be ready by 2023 and is projected to inject into the Kenyan economy Sh400 billion($ 3.9 billion) in local and foreign direct investments and create more than 100,000 jobs.

READ ALSO:Ethiopia beats Kenya in Foreign investments

According to President Kenyatta, the Dongo Kundu SEZ will herald a milestone transformation in the coastal region …

Kenya has seen five American multinational corporations enter its territory setting base in what is a challenging time for the East African economic hub.

The latest entrants who entered the Kenyan market in the last 12 months are an indication that US private-sector businesses are bold enough to dive into the economy that has been decelerating.

Among these companies that will create opportunities and transform the business landscape in Kenya and the region include Cigna, an American health services organization and Abbot Laboratories.

The two have already set up regional offices in Nairobi. This is Abbot Labs’ second regional office in Africa after decades of being present in South Africa.

American agricultural chemical and seed company Corteva and the American Tower Corporation (ATC) have also set up regional offices in Kenya.

ATC has already acquired 723 towers from Telkom with another acquisition in the pipeline which will make ATC Kenya …