Toyota Kenya has partnered with Prime Bank in rolling out a new car loan facility which will enable members of the Association of Insurance Brokers of Kenya, to get up to 100% financing for the purchase of selected Toyota Kenya vehicles. The move is part of efforts by Toyota Kenya, to encourage the uptake of brand new vehicles in the country. With the new partnership, insurance brokers will enjoy a competitive loan facility while purchasing Toyota vehicles, which include the Toyota RAV4, Toyota Rush, Fortuner and the Suzuki Ertiga, with a repayment period of 36 months. Prime Bank’s Executive Director…
Author: Tobey
Uganda Airlines has postponed its plans to begin maiden Nairobi flights from the 31st of July 2019, to the end of August 2019. The decision to postpone, is as a result of failure to acquire the necessary certification on time. Uganda’s Works and Transport Minister Monica Azuba in an interview with the Daily Monitor on Monday the 22nd Of July 2019, said that the launch has been put off to next month as the airline has not acquired the Air Operator Certification (AOC). An Air Operator Certification (AOC), is issued by a national regulator, is the approval certificate granted to…
Postbank has announced its partnership with Finablr company; Xpress Money, which is a well known global money transfer organisation that has been enabling convenient money transfers for over 19 years and one of the most dependable money transfer brands in the world. Xpress Money’s convenient money transfer services are now available across all the 98 branches of Postbank in Kenya. With this service, customers will now be able to send and receive money conveniently in the country via Xpress Money’s global network of 185,000 partner locations in 170 countries. The Managing Director Of Postbank; Ms Anne Karanja, stated that the…
According to Business Daily Africa, Betin Kenya is currently seeking a court order against Safaricom to unblock its M-Pesa paybill accounts and SMS short codes which were suspended by the telecommunications company, as a result of a government order. The firm wants the court to order telecommunications giant; Safaricom, to lift the suspension on its payment systems and direct the company to unblock its M-Pesa paybill accounts as well as its SMS shortcodes. On the 10th of July 2019, The Kenyan government had through the Betting Control and Licensing Board (BCLB), ordered Safaricom to suspend the M-Pesa payment systems and…
Technology powerhouse; Oracle, has selected David Bunei to lead its Kenyan team. Mr. Bunei has two decades worth of experience in the telecommunications and technology sector and has held several leadership roles in different organizations. Prior to his appointment, David Bunei was the Managing Director in charge of East Africa and the Indian Ocean Islands at Cisco Systems. The Managing Director Of Oracle Africa; Andrew Sordam, expressed his confidence in the appointment stating that, “David Bunei is a strong fit for Oracle. He has demonstrated the same shared commitment to Kenya, as well as a focus on placing customer needs…
After a brief disruption, commissioning tests have resumed at Kengen’s Olkaria V power plant. Activity at the power plant was initially put on hold on the evening of Friday the 12th Of July 2019, after an incident at the station left 10 workers with injuries. While a couple of unverified reports claim that the steam pipes burst which resulted in the injuries, Kengen’s official statement however stated that the injuries was as a result of a stampede among the workers. The statement by Kengen reads, “The incident occurred on Friday, July 12th, 2019 at about 4 pm, while the team…
Starting from the 27th of September 2019, Air India, which is the national carrier of India, will resume direct flights between Mumbai and Nairobi. The flights will reportedly occur four times a week and will cut the time used to travel between Mumbai and Nairobi from between 10 and 11 hours, to six hours and will save costs as well as hours spent on flights which usually involve long stopovers in Dubai. The Indian High Commissioner to Kenya; Rahul Chhabra, made it known that the flights are expected to boost trade and connectivity between the two countries. “I am excited…
According to the Kenyan Wallstreet, the newest entry into Kenya’s Cement Industry; Savannah Cement, is constructing a grinding plant in Kitengela, worth 5 billion Kenyan Shillings. Savannah Cement whose current production capacity is at 1 million tonnes per year, has a 15 percent market share. This makes it the fourth largest cement firm by market share out of the six cement companies currently operating in Kenya. While the company plans to expand into the regional markets starting from next year (2020) and benefit from the increased infrastructure spending in neighboring countries, it is also looking to gain from the Kenyan…
Analysts at Moody’s which is one of the three big global sovereign credit ratings agencies, has warned that, the sharp increase in the Treasury’s borrowing from local banks, has exposed the Kenyan economy to tremors in the financial sector. Commercial banks in Kenya have over the course of the past three years, amassed 1.509 trillion Kenyan Shillings worth of Treasury bills and bonds, a figure which is equivalent to 54.1 percent of the Kenyan government’s total domestic debt, which according to Business Daily Africa, was at 2.789 trillion Kenyan Shillings at the end of last week. In reaction to the…
The Governor of Machakos County; Alfred Mutua, governor has ordered the closure of all meat sections in Naivas supermarkets within the county, after the discovery of excess chemical additives in the meat sold in one of its outlets, was made. In a statement issued Thursday the 18th Of July 2019, Dr. Alfred Mutua made it known that lab analysis of meat samples taken from Naivas supermarket at Gateway Mall in Mavoko, revealed that the meat contained 3,286 milligrams of an additive (Sodium Metabisulfite) that should not be used on meat. The Governor via the statement said, “I direct my officers…
17 foreigners who are directors of gambling companies in Kenya, will be deported from the country. This is coming after the Interior Cabinet Secretary Fred Matiang’i, signed the deportation orders for the officials, as a result of allegations of engagement in activities not stated in their issued work permits. Spokeswoman for the Interior Ministry; Wangui Muchiri stated that most of the directors are from the Eastern part of Europe, saying that, “Most East Europeans violated work permits by engaging in business not stated on applications.” Wangui Muchiri added that, “The deportation orders are immediate.” The Kenyan government has in recent…
News from Business Daily Africa, has revealed that the Kenya Revenue Authority (KRA) is set to install new electronic tax registers at business premises across Kenya. The Electronic Tax Registers, will give the Kenya Revenue Authority (KRA), access to invoices issued by traders around the country, in real time. Under the proposed system which is part of its high tech war against tax cheats, the Kenya Revenue Authority (KRA), will require manufacturers, suppliers and traders to deploy new Internet-enabled Electronic Tax Registers (ETRs). The new Internet-enabled Electronic Tax Registers (ETRs), will allow the Kenya Revenue Authority (KRA) to track how…
The Central Bank of Kenya (CBK) has intensified its talks with banks in Kenya, to lower the costs of mobile phone based loans. This is coming after claims by users that the mobile phone based lenders, are crippling borrowers with expensive debt. Governor of the Central Bank of Kenya (CBK) Patrick Njoroge, stated that the talks with banks in Kenya, go beyond just the interest on loans to processing charges and facilitation fees. Some of the the Tier-One commercial banks which offer instant mobile loans include, Barclays Bank of Kenya (with Timiza), Co-operative Bank (with M-Co-op Cash), Commercial Bank of…
Taxi drivers in Kenya, will stop rendering their services today, Monday, the 15th of July 2019, in an attempt to cripple the operations of majority of the digital-based cab hailing services in Kenya. The move, is in protest of the collapse of the Memorandum of Understanding (MOU) between the drivers and taxi firms in July 2018. The strike will be undertaken by members who are affiliated to Uber, Taxify and all other taxi applications. In a statement issued on Sunday, the 14th of July 2019, the Secretary General of the Taxi Drivers and Partners Association of Kenya; Waweru Jamaicah explained…
