10 Kenyan entrepreneurs dish out on starting, running a successful business
Posted by Jambo on January 7, 2016 · Leave a Comment
NAIROBI, Kenya, Jan 5 – If your social media feed has been full of 2016 resolutions revolving on starting a business, growing one or turning one into a success, raise your hand. From Instagram start-up photos, to entrepreneurship motivational Facebook statuses and tweets with hashtags such as #grind2016, we have almost seen it all. And we get the idea – people are craving to leave employment this year and start their own businesses. Others want to get the grip on the whole run-a-business business while others are hoping to make their ventures successful. The good news is, I’m here to…
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French tycoon faces tax fraud charges linked to Kenya’s Ol Jogi ranch resort
Posted by Jambo on January 5, 2016 · Leave a Comment
A lavish holiday ranch located in Kenya’s Laikipia plains is at the heart of a multi-million euro tax evasion battle whose hearing began on Monday in a Paris court. French authorities accuse owners of Ol Jogi Ranch – the setting for award-winning film Out of Africa – of hatching a tax fraud scheme that has cost the European nation millions of euros in uncollected taxes. French prosecutors say the wealthy art-collecting Wildenstein family, which also owns the holiday ranch, has been running the fraudulent scheme for years and are seeking to recover millions of euros through the suit. Guy Wildenstein,…
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Kenya’s supermarkets, hotels record bumper Christmas sales
Supermarkets, clothes retailers and hotels in Nairobi recorded bumper sales in the run-up and during the Christmas festivities, as customers turned out in large numbers. Interviews with managers at Nakumatt, Tuskys, Bata, Deacons and Villa Rosa Kempinski indicated a jump in client numbers. The trend is expected to prevail until New Year. “This is the best Christmas we’ve ever had in terms of client turnout,” said the Kempinski director of food and beverage Amit Sharma. The hotel said over 900 guests turned up for both Christmas eve dinner and Christmas day brunch. Its luxurious 12-tented Olare Mara Kempinski in Maasai…
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Investment company to put up Sh3.5 billion gated community houses in Machakos, Muranga and Laikipia
The growing demand among middle-income earners to own decent homes in gated communities has seen real estate companies striving to provide tailor-made products for this market, which has been largely ignored. Keen to tap into the huge market, real estate company Thuo Investment Group is putting up gated communities worth Sh3.5 billion in Machakos, Laikipia and Murang’a Counties targeting the middle class. The projects are expected to start early next year, company Chairman Joseph Thuo said, adding that the units will be priced within reach of their target market. “Many middle class income earners want to own homes but they…
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Meet 20 year old Kenyan investor who shunned Harvard to pursue tech dream
Posted by Jambo on December 29, 2015 · Leave a Comment
Orphaned at 10, Mubarak Muyika has been doing business since his school days at Kamusinga High School in Bungoma County. His passion for entrepreneurship saw him turn down a fully paid scholarship to the prestigious Harvard University in the US last year to follow the unbeaten path of setting up a computer business. ‘‘I cleared high school in 2011, two years earlier I had developed a passion for computers that saw me set up a website for my adoptive parents who were running a bookshop. He registered Hype Century Technologies and Investments Ltd, a company which deals in web-designing and…
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Kenya borrows Sh20bn for new dam
Posted by Jambo on December 3, 2015 · Leave a Comment
Kenya has signed a Sh20 billion ($200 million) financing agreement with the World Bank for the construction of a dam at the ongoing climate talks in Paris. The construction of Mwache dam in Kwale County is expected to serve residents of the country’s coastal city of Mombasa with 186,000 cubic meters of water a day. It will also supply residents of neighbouring Kwale County. Mombasa County Governor Hassan Joho, who signed the deal along with Water and Irrigation Services Cabinet Secretary Eugene Wamalwa, said the dam would ease a biting water deficit where the county only supplies 46,000 cubic meters…
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Two KQ flights turned back to JKIA over technical hitches
Posted by Jambo on November 19, 2015 · Leave a Comment
IN SUMMARY KQ flight 706 to Lusaka and Harare was on Wednesday morning turned back to the Jomo Kenyatta International Airport (JKIA) after the Embraer plane developed “pressurisation issues”. A day earlier, flight KQ576 to Bangui, the capital city of the Central African Republic, was turned back midflight due to “technical reasons”, which the airline did not elaborate. KQ, whose fleet consists of 46 passenger planes and two freighters, insisted that the two incidents were “not emergency” situations and that the “turn backs” were precautionary in nature. Kenya Airways has suffered two back-to-back international flight interruptions this week due to…
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Govt blocks law giving Kenyans 30pc share of foreign firms
Posted by Jambo on November 7, 2015 · Leave a Comment
Who sneaked in the controversial clause? It had ruffled the feathers of foreign investors looking to set up shop in East Africa’s biggest economy, casting doubt on the competitiveness of the country as an investment destination. Attorney-General Githu Muigai said the provision did not form part of the original Bills that were submitted to the National Assembly. “From all indications it was inserted at the committee stage. It does not represent the current government policy on foreign investments,” he said. Kenya has beaten a swift retreat from a new law that makes it compulsory for foreign investors seeking investment to…
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Kiambu Road developer puts up Sh4.2million apartment houses
Posted by Jambo on October 29, 2015 · Leave a Comment
Property developer Dinara has broken ground for a Sh160 million apartment block in the Thindigua area of Kiambu County. Dinara has kicked off construction of Grand Ville Apartments, which will consist of 40 two-bedroom apartments at Sh4.2 million each. The developers said they have settled on the site due to its closeness to the city, a good road network and availability of social amenities. “We chose the area because of its proximity to town and it is close to Runda, Ridgeways Mall and the northern bypass,” said Dinara business development manager Caroline Loontubu. Construction is expected to take 18 months….
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US aircraft manufacturer Boeing torn between Kenya and Ethiopia offices
Posted by Jambo on October 24, 2015 · Leave a Comment
American aircraft manufacturer Boeing is weighing options of opening an office either in Kenya or Ethiopia to gain a foothold in the eastern Africa market. Boeing Company senior vice president Marc Allen said Thursday the US giant is assessing factors like human resource, infrastructure and existing frameworks for partnerships in the two capitals. The Boeing executive has been on a fact-finding tour of South Africa, Nigeria, Kenya and Ethiopia aimed at paving the way for entry into the three corners of sub-Saharan Africa. The US giant, which is the supplier of Kenya Airways and Ethiopian Airlines’ fleet of Dreamliners and other Boeing…
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