Author: NLM Correspondent

BY NBM WRITER If you have been in entrepreneurship long enough, you have heard that the essence of strategy is choosing what not to do. For Nicodem Mayison, director and founder of Palma Group Limited, it made sense not to give up on his business which had been disrupted by war. Since 2010, the supply and logistics firm had been operating mainly in South Sudan, though registered in Kenya as well. Business was flowing until conflict broke out in 2016, causing the entrepreneur to lose about $1.2 million worth of equipment and ongoing contracts, leading to a shutdown. While waiting…

BY RAPHAEL KIOKO In 2017 Kefa Nyakundi’s brainchild, Centerprise Holdings Ltd (CHL), which comprises of 3 companies, Centerprise Africa Limited (CAL), Africa Risk Institute (ARI), and Mtaji Technologies, suffered a market downturn because of the prolonged general elections. This led to most of the company’s shareholders jumping ship as the business was almost going under. Consequently, as the managing director and vision carrier, this was a call to restructure the company to adjust to the changing business terrain. Hardly had the business picked up when Covid-19 hit in 2020. This blow came on the back of an already depressed business,…

The phase one, Mzizi Court Housing projects, has so far attracted nearly twice the number of homebuyers targeted, meaning that the project is already overbooked. It will consist of one, two and three-bedroom units with prices starting from Sh4.9 million with a flexible payment plan. Centum RE managing director Kenneth Mbae said 450 customers have already paid cash deposits by coming to buy the apartments, overshooting the phase one supply by more than 66%. He said that pre-bookings by prospective buyers of at least one third of units is a requirement set by Centum before groundbreaking. He added that the…

The new mortar product is produced from carefully sourced raw materials, including chemical admixtures, cement and sand By victor adar Bamburi Cement has entered into the specialized mortar sector by launching a ready-to-use tile adhesive into the Kenyan market by the brand name “Bamburi TectorCeram SETI 300”. Designed for placement of porous tiles including ceramic, terracotta, earthenware and natural stone tiles, the new product is not only in line with the firm’s vision to provide innovative solutions but also a result of continuous investment in research and development coupled with paying close attention to customers’ needs. The company’s head of…

Elon Musk, Tesla chief executive and the world’s current richest person, has clinched a deal valued at Sh5.09 trn ($44 bn) with Twitter that will see him take over the popular social-media network. Mr Musk bought the company at $54.20 a share, a 38% premium over the firm’s share price in April. This was after the company had at first decided to rethink the move, even going as far as adopting a limited duration shareholder rights plan, often called a poison pill, before the offer was made. This is only possible if a party acquires 15% of the stock without…

BY ANTONY MUTUNGA On April 2 of this year, National Treasury Cabinet Secretary Ukur Yattani presented before Parliament a Sh3.3 trn budget for the next financial year. The national budget for the year 2022/23, which was presented two months earlier than usual because Kenyans will be going to the polls come August, has hit a new high as its total estimates stand at Sh3.3 trn, an increase from Sh3trn FY’2021/22 outlined in June last year. The upward trend has been witnessed ever since the current government took over – the budget has increased about three times from Sh1.3 trillion FY’2013/2014.…

By Antony Mutunga In 2018, Africa decided to overcome tariff and non-tariff barriers to create a single market for goods and services, leading to the foundation of the African Continental Free Trade Area (AfCFTA). This was a chance to promote intra-African trade and, as a bloc, give Africa more power in terms of negotiations with other blocs or developed countries. It was set to be implemented in 2020, but the pandemic delayed the process, leading the trade to start in earnest in January 2021. Since then, more countries have sent in their instruments of ratification. The number stood at 41…

What does the Africa Continental Free Trade Agreement means for businesses, particularly players in the online space? Will e-commerce be a solution to the integration? By Siyanda Makhubo The current nature of international relations, which demands the mobilisation of collective capacities of states and non-state actors (enterprises and individuals), to find a durable solution which would help to improve the living standard in African countries, marks the founding reasons for the Africa Continental Free Trade Agreement (AfCFTA). This aligns with agenda 2063 of the African Union, which seeks to build the “Africa we want”, promoting intra-regional connectivity between capital cities…

Food insecurity set to grow as Russia-Ukraine conflict continues – experts BY ANTONY MUTUNGA The fundamentals of the recent trade wars between the United States of America and China show that the world is connected in more ways than one. The current Russia-Ukraine conflict that began in the last days of February is also raising fears – its effects are being felt not just in Kenya, but also in Africa. Ever since the invasion began, vulnerable African citizens who have been caught on the ground in the eastern European nations have faced discrimination and racism as they tried to flee…

By Abdihakim B. Mohamed In 2008, Lehman brothers, a giant US investment bank, imploded, spinning the financial systems out of control, and leaving a trail of turmoil that affected businesses and the US economy. The financial and economic tremors quickly spread in key global markets, triggering what some described as parallel to the great depression. Global economy caught a fever, from the sneezing of the Lehmann brothers. The phrase, too big to fail, hitherto, largely confined to the finance and business circles, was thrust to the fore and became a frequent jargon in the midst of the financial chaos. Having…