August 4, 2015

Young Kenyan Enterpreneur finds success in social networking sites


After graduating from university, Barbara Mwamburi thought that armed with an IT degree, the chances of getting formal employment were high. But after walking from one office to another office, the long search for a job proved unsuccessful. She decided to start a website where she posted her CV to market herself to potential employers. Knowing that she was not alone in the employment hunt, she invited other job seekers to post their CVs on the online tracking website accessible to employers at a fee. “My work is to connect job seekers and their employers within Nakuru. I target the…

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Google, Safaricom Launch Waze Traffic App In Kenya


Google and Safaricom have launched Waze, a free interactive mobile app that will give Kenyan drivers real-time traffic information through crowd-sourced data from other drivers using the same route, ITWebAfrica reports. The free GPS-based mobile app is already used by 4.4 million drivers in 200 other countries, where it collates information on road conditions and gives advice on potential alternative routes. Waze is not new to Kenyan motorists, TechMoran reports. The app has been freely accessible since 2010 but wasn’t used in significant numbers. Google purchased Israeli startup Waze in 2013 for $1 billion, according to TechWeez. Some users appreciate the accuracy of the service, especially in estimating time of arrival.  Waze also works as a…

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The 31 Year-Old Entrepreneur Who Is Challenging PayPal In Kenya


Danson Muchemi, 31, is the founder of JamboPay, Kenya’s leading Online Payment Gateway. JamboPay, which was founded in 2009, now has more than 1,500 institutional clients and processes more than $50 million in payments every year. The company has a presence in Kenya, Tanzania and Senegal and is expanding to 4 additional countries before the end of 2015. I caught up with him recently in Nairobi and we chatted briefly about JamboPay’s model, service offering and future plans. What’s your personal and professional background? I am the CEO of JamboPay and a firm believer in deploying technology for the good…

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KQ services unattractive to travellers, parliamentary probe finds


A Select Parliamentary Committee says Kenya Airways made its service unattractive to customers through high ticket prices and frequent flight cancellations despite intense competition among airlines. The committee formed two months ago by the Senate, Kenya’s lower House, to probe the national carrier’s nose-diving finances said evidence gathered so far also pointed to poor investment decisions, industrial unrest and lack of expansion in Africa among the five major problems that plunged it into a record $251 million after-tax loss. “Prima facie evidence so far gathered shows that the airline faces major problems which the committee is looking deeply into with…

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Kenya Airways 25.7 billion loss has wiped out shareholders’ wealth


National carrier Kenya Airways’ record-setting Sh25.7 billion loss has wiped out shareholder wealth, taking it to a Sh5.9 billion negative capital position and adding momentum to the long-running erosion of its share price at the Nairobi Securities Exchange (NSE). At Sh25.7 billion, the airline’s loss for the year ended March 2015 was nearly eight times the Sh3.4 billion net loss it reported a year earlier, reflecting the impact that the debt-fuelled aircraft acquisition spree has had on the company. KQ, as the airline is popularly known, has been executing a debt-financed fleet modernisation programme that has pushed its total liabilities…

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Kenya Airways in record Sh29.7 billion loss, acquires Sh20 billion loan to stay afloat


National carrier Kenya Airways has recorded a pre-tax loss of Sh29.7 billion for the 2014-2015 financial year against Sh4.8 billion during the 2013-2014 financial year. While reporting the findings Thursday morning, KQ’s CEO Mbuvi Ngunze attributed the loss to increased overhead costs which he said stand at Sh25 billion. Ngunze added that the fuel costs have also contributed to the loss. “We have had turbulent times and this loss is obviously significant. It is, however, important to know that we have made a significant investments at a time when the industry generally was going through hard times,” Ngunze said. Ngunze…

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Kenyans in US who invested with FEP cry foul as concerns over the group grow


Kenyans in the US have lamented that the FEP Group is giving them a run around when it comes to how their investments are handled. Many have claimed that they have tried to reach top management to address their concerns but they seem to be getting run arounds. A growing concern from many of the is the fact that FEP does not seem committed to the projects they start but quickly pivot to new projects and keeping Kenyans who have invested with them in the dark over the previously started projects. They worry that there may be no returns on…

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Indonesian tourist narrates unpleasant experience at the hands of Kenya Airport police

JKIA Arrivals

We just came back from a week safari trip in Kenya and had an wonderful, memorable experience – even better than expected. However, I would like to share an unpleasant experience we had in the Nairobi Jomo Kenyatta International Airport. Before entering immigration, we got stopped and was asked to fill in a form and show our yellow fever vaccination card. We saw many Asian/Chinese tourists were asked to do the same. Just before exiting the airport building, 2 police officers stopped us, asking again for our yellow fever vaccination card. Looking at the vaccination date, they said we were…

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Kenya, U.S. Companies in Talks on Multibillion-Dollar Port Deal


Kenyan and U.S. companies are negotiating a potential multibillion-dollar agreement with the Kenyan government to help develop the East African country’s biggest infrastructure project. The U.S. companies want to take part in the Lamu Port Southern Sudan-Ethiopia Transport Corridor, which envisages the construction of a port, power plant, railway and other facilities, according to Issa Timamy, governor of Lamu county in southeastern Kenya. Discussions are being led by Aeolus Kenya Ltd., a closely held power and infrastructure developer known as AKL, he said in a phone interview on July 21. “AKL has been in ongoing negotiations with the U.S. government…

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Investment opportunity with BRITAM in Dallas on Saturday


Britam Asset Managers will be holding an event on Saturday in Dallas providing Kenyans in the Diaspora with investment opportunities. The event will be on Saturday, the 1st of August from 2:00 p.m. at the Double Tree Hotel in Dallas, Near the Galleria. The address is 4099 Valley View Lane, Dallas, Texas,75244, USA Britam is the asset management subsidiary of British–American Investments Company (Kenya) Limited, Britam, a leading diversified financial services group listed on the Nairobi Securities Exchange. The company has had a long standing relationship with Kenyans in the diaspora, culminating in the official launch of the company’s diaspora initiative themed ‘ Create your wealth with Britam’ in April,…

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