October 7, 2015

Facebook ready to beam free internet to remote regions in Kenya


Facebook has begun taking steps to beam free high-speed Internet to the remote parts of Kenya in a move likely to scare local telecommunications firms. Together with French-based satellite provider Eutelsat, the two firms will accelerate data connectivity in sub-Saharan Africa, with a focus on Kenya and Nigeria. “I am excited to announce our first project to deliver Internet from space as part of our internet.org programme to connect the world,” said Facebook CEO Mark Zuckerberg in a statement Tuesday. INTERNET.ORG The satellite programme will rely on Facebook’s internet.org platform, which has sparked controversy for not reaching its target audience…

Read More

Top foreign varsities in Nairobi to recruit MBA students


Six top-tier business schools from the US, Canada and Spain are set to pitch camp in Nairobi on Tuesday to recruit students for their Master of Business Administration (MBA) programmes. The varsities – which include Ivy League Columbia University, Massachusetts Institute of Technology (MIT) and University of Chicago’s Booth School of Business – are hoping to cash in on Kenyans’ preference for foreign MBAs. Nairobi is one of the four African cities in the varsities’ global circuit dubbed The MBA Tour, that also includes Accra, Lagos and Johannesburg. This will be the second visit to Kenya by the group. The…

Read More

Five-star hotel Villa Rosa Kempinski blocks building of rival China firm’s hotel


Five-star hotel Villa Rosa Kempinski has stopped Chinese real estate firm Avic International from constructing a Sh9.6 billion complex in its neighbourhood along Chiromo Road in Nairobi’s Westlands. The complex, which includes a 35-floor five-star hotel, had received the green light from a number of regulatory agencies, including the National Environment Management Authority (Nema) before Kempinski filed a petition with the environment tribunal, seeking orders against its construction. Kempinski, which is one of Nairobi’s premier hotels, last week got an order from the Nema tribunal stopping construction of the complex until an appeal it has filed against Avic is heard…

Read More

The 28 Year-Old Kenyan Entrepreneur Who Built A $7 Million Retail And Advertising Business


Trushar Khetia is one of Kenya’s most outstanding young entrepreneurs. The 28 year-old serial entrepreneur is the founder ofTria Group, an outdoor advertising firm that uses public transit vehicles to market leading consumer goods in Kenya. Tria, which was founded in 2013, places advertising on more than 200 buses in Nairobi for clients such as Unilever, Google, HP, Dell and Konica Minolta. The company has annual revenues exceeding $1.3 million. Khetia is also the founder of Society Stores, one of the most popular supermarkets in Thika, a thriving industrial town 40 kilometers north east of Nairobi. The four-storey retail outlet…

Read More

[VIDEO] Modernizing Ethiopia Opens $475-Million, China-Built Urban Rail


Tekle Negash’s days of riding a battered minibus to work in Ethiopia’s capital are over. Boarding Addis Ababa’s $475-million, Chinese-built and funded Light Rail, he can slash his one-hour commute by two-thirds and still save money. The 50-year-old trader was one of thousands who queued Sunday for the opening of the first phase of the state-owned urban railway, which comprises 34 kilometers (21.1 miles) of lines across the city. In a ceremony that featured a Chinese delegate’s impromptu singing and an Ethiopian dance troupe, Transport Minister Workneh Gebeyu described the project, one of the first of its kind in sub-Saharan…

Read More

Chris Kirubi causes a stir with purchase of 2m KQ shares


Billionaire investor Chris Kirubi has bought 2.1 million shares of loss-making Kenya Airways, joining a group of investors who have been buying the stock as the company struggles to stay afloat. Mr Kirubi bought the shares in early August shortly after the airline announced that it made a record-setting net loss of Sh25.7 billion that also left it in a negative capital position of Sh5.9 billion. The investment, revealed in August regulatory filings, has raised questions whether the flamboyant businessman is merely speculating on the share or is privy to a turnaround strategy that will ultimately pay off in the…

Read More

Nairobi court gags four FEP Holdings shareholders based in US


A Nairobi court has restrained a section of shareholders in a micro-finance company from publishing statements in the media alluding to misappropriation of funds invested in the Sh5 billion worth firm. Justice Rosyln Aburuli on Thursday issued the gag order against Mr George Njue, Mr Charles Kabaiku, Mr James Octavia Sloan and Mr Geoffrey Soyiantet. The four are named as defendants in a civil suit pending before the court against the multi-faceted investment company, FEP Holdings Limited which also has an interest in media management. The judge said that she was issuing an interim injunction restraining them from publishing, posting and “the…

Read More

Kenya Airways most expensive flight from Kenya on key routes


KENYA Airways is losing out to rivals due to high fares even as the national carrier struggles to recover from a massive loss. Ticket prices from the airline’s hub at Nairobi’s Jomo Kenyatta International Airport to various domestic, regional and international routes remain high, giving its competitors an edge. Online booking inquiries by the Star for this this week’s fares show KQ’s one way ticket from Nairobi to Mombasa (economy class) costs between Sh10,130 and Sh11,220. A similar ticket from Nairobi to Kisumu is Sh13,516 , while Nairobi- Eldoret is Sh13,940. Local airline Fly540 is charging between Sh4,150 and Sh9,810…

Read More

East Africa Chamber of Commerce annual Trade and investment conference from October 14 to 17th, 2015 in Dallas


You are cordially invited to the 7th annual Trade and Investment Conference organized by the East Africa Chamber of Commerce. The conference will be held from October 14th to 17th, 2015 at the Hyatt Regency North Dallas. Please see details below.

Read More

Kidero announces move to convert Nairobi CBD roads to one-way streets


Key roads in the Nairobi’s central business district (CBD) will be converted into one-way streets in a bid to decongest the city in the next four months. The roads affected are Moi Avenue, Koinange Street, Kimathi Street, Tom Mboya Street, River Road and Kirinyaga Road. Kenyatta Avenue will, however, be divided, Nairobi Governor Evans Kidero said on Tuesday. The governor said that in the coming days, most streets in the CBD would free of traffic snarl-ups following the new measures. Dr Kidero said that since the county government started closing roundabouts in the city, the flow of vehicles had increase…

Read More