Author: NLM Correspondent

The Nairobi Securities Exchange (NSE) has picked Mbithe Muema as its new chief business officer after Terrence Adembesa left the firm to take on a new role as chief executive of East African Bond Exchange. With over 15 years of experience covering African capital markets, having worked in African and global financial centres, Ms Muema, has extensive expertise in the fields of capital markets, investment advisory, corporate strategy, and financial modelling, among others. She is the CEO of Infallible Group, a financial consultancy company that focuses mainly on the African continent. She previously worked with Renaissance Capital, African Alliance, Exotix…

Learning at Kasambara Primary School in Nakuru County has been boosted following the donation of learning materials by Lake Elementaita Mountain Lodge (LEML), a development of real estate company Superior Homes Kenya. The learning materials were donated by the staff members of LEML in partnership with publishing firm East African Educational Publishers (EAEP) and included textbooks, story books, exercise books, dictionaries, masks and pens. LEML team, led by the general manager Charles Wambogo noted that education was a core part of their social responsibility and as such, schools were a key constituent of their sustainability efforts. “As staff we came together…

Family Group Foundation, a subsidiary of Family Bank has spent Sh40 million to sponsor 220 students from needy backgrounds to join high school. The “Tufuzu na Elimu” scholarship programme whose priority counties include Bomet, Bungoma, Kisumu, Kajiado, Kiambu, Laikipia, Mombasa, Meru, Muranga, Makueni, Nyeri, Nakuru, Nyandarua and Uasin Gishu, will cater for both tuition and upkeep. “Every year we reiterate our commitment to supporting bright but needy students’ access to quality education. We are happy to support the public sector achieve 100 per cent transitioning of students to high school,” Family Bank CEO Rebecca Mbithi said during the students’ commissioning in Nairobi. The…

BluePeak Private Capital, an alternative asset management firm, has injected $20mn capital in ieng, a pan-African provider of engineering and construction, operations and maintenance, and hybrid power solutions to telecom sector, to support the firm’s geographic expansion plan across the continent.  The investment will also advance ieng’s strategy to meet growing consumer demand for telecom infrastructure services, boosting connectivity for last-mile access and deepening the firms’ footprint by providing catalytic capital for new contracts with blue-chip clients. Rami Matar, partner at BluePeak, commented said that through reliable services and a strong track record, ieng has managed to position itself as…

Sarova Hotels and Resorts, Kenya’s collection of hospitality establishments, has added Imperial Hotel Kisumu to its portfolio after the signing of a 7-year management agreement with the hotel’s owners, the Gilani family. Imperial hotel will now be named Sarova Imperial Hotel Kisumu, and will be the group’s eighth hotel in Kenya. By establishing a presence in Kisumu, Sarova Hotels is now operating properties in the country’s four cities – Sarova Stanley and Sarova Panafric in Nairobi, Sarova Whitesands Beach Resort in Mombasa, Sarova Imperial Hotel in Kisumu, and Sarova Woodlands and Sarova Lion Hill in the new city, Nakuru. Speaking…

CFAO Motors Kenya has started the construction of its premises in Kisumu County that will host the CFAO Motors Kenya Kisumu branch. The 3,600 square metre facility located at Nyamasaria and which will take 12 months to complete, will add 40% more space from CFAO Motors Kenya current operations in Kisumu that will include 12 service bays, more parking space for customers and increased space to display the auto distributor’s expanded portfolio that now houses Toyota, Hino, Suzuki, Yamaha, Automark, AutoFast and winparts. Speaking at the ceremony, Managing Director, Arvinder Reel said the new branch construction is a show of…

Kenya passed the Nairobi International Financial Centre (NIFC) Act in 2017 to establish a financial centre, a move that is hoped to transform the country into a financial hub and increase foreign direct investment opportunities. The country is expected to formally launch the financial hub in June of this year. Financial centres have the potential to increase the popularity of Kenya as a financial hub and help it catch up with or even surpass the other International Financial Centres (IFCs) in Africa – Casablanca, Cape Town, Mauritius, Kigali, Lagos and Johannesburg. IFCs are specialised legal institutions and regulatory frameworks that…

With over 600 million people without access to electricity, Africa cannot and should not leave its oil and gas resources on the ground While western nations are calling for the abrupt end to fossil fuel utilization in Africa, countries like the UK and Norway continue to hold licensing rounds intended to scale-up exploration and production. With Africa’s socioeconomic development hinging on the exploitation of the continent’s oil and gas resources, this hypocrisy could spell a travesty for Africa. As western organizations such as Greenpeace move to end African hydrocarbon investment in the name of climate change, shouldn’t European nations move…

Africa faces a huge digital skills gap, diluting economic opportunities and development. According to a study by the International Finance Corporation (IFC), some 230 million jobs across the continent will require some level of digital skills by 2030, according to a study by the International Finance Corporation (IFC). This translates to a potential for a staggering 650 million training opportunities and an estimated $130 billion market. And with the COVID-19 pandemic forcing many businesses to go digital to survive, the need for these skills has become more apparent since 2020. In the new global economy, where technology is front and…

By Carolyne Tanui The effect of climate change has been felt majorly across the globe in recent years with increased impacts that have taken a toll on the day-to-day activities of human beings. Several activists and organizations have taken lead in encouraging humans to adopt environmentally friendly activities and initiatives that will reduce carbon emissions and lower the impact of climate change. In a bid to be part of the green initiative, several developers within Nairobi have opted for green buildings whose design, construction, or/and operations reduce or eliminate negative impacts, and can create positive impacts, on the climate and…