February 5, 2016

Difficult times ahead for consumers in Kenya as banks raise interest rates

It all started with a 150 basis point rise in April to cushion the shilling. Six months later, and 300 basis points higher, the shilling had steadied but the effects of saving it is now threatening to bring down consumers. This is after several banks hiked their lending rates in an effort to protect their profit margins. The rates have gone up by as high as 12 per cent for some clients, setting them up for default, repossession and foreclosures for those with mortgage facilities. The ghost of the high interest rates of 2011 is back. Moses, a customer with…

Read More

Truck Drivers Needed in Dallas, Texas

A freight company in Dallas is searching for truck drivers. Applicants must have a CDL and 2 years experience. If you meet these qualifications, please call the numbers on the flyer.  

Read More

Microsoft launches Kiswahili translator

Global IT firm Microsoft is targeting up to 150 million Kiswahili speakers in Africa (and beyond) with a new language translator function. This will make Kiswahili the first native African language to be supported by Microsoft’s automatic translation service. Kiswahili is spoken throughout eastern Africa including in Kenya, Tanzania, Uganda, Rwanda, Burundi, Mozambique and the Democratic Republic of Congo. The translator, which was created in collaboration with the Translators without Borders (TWB) organisation, is also aimed at enabling governments in the region to make documents and information available and also disseminate emergency information. “The new function is real-time and will…

Read More

Dubai global hotel chain inches closer to signing Kenya deal

Dubai’s Jumeirah Group, the global chain that owns the iconic Burj Al Arab hotel (pictured above), is negotiating a deal to manage a hotel in Kenya with an eye on growing its footprint in Africa. Mr Piers Schreiber, the group’s vice president for corporate communication and public affairs, said that a deal to manage the unspecified hotel in Kenya would be concluded soon. “We are in talks to take up management of a hotel business in Kenya and we shall be making disclosures of the partners and the deal when the time is ripe,” he said. Jumeirah is also in…

Read More

How we built our Garden of Eden in Kiambu, fruit by fruit

The area around Starehe Girls High School in Kiambu County has seen tremendous growth in the recent past. It is to a home in one of these posh housing estates that we head to one fine morning. It looks nothing different from the other mushrooming estates in the county. At the entrance of our target homestead, we find workers loading parked fresh farm produce onto a waiting car. Benson Wakaba and his wife, Esther Wairimu, are getting ready to ferry fruits and vegetables, which they have just harvested on their farm, to the market. For the last three years, this has…

Read More

Number of Kenyan super earners shrinks as income gap grows

Only 68,676 or 2.89 per cent of formal sector employees in Kenya earn more than Sh100,000 per month, according to newly released data, showing a widening income gap in the country. The data from the Kenya National Bureau of Statistics (KNBS) shows that more than half of formal sector workers (64.5 per cent) are living on low wages of between Sh20,000 and Sh49,000 that have barely increased in the past 10 years, eroding the wage earners’ purchasing power. The formal sector wages data also shows that although the number of people in the top earning bracket declined last year compared…

Read More

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

khetia

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