The Whirlwind Year of the Kenyan Shilling
The Kenyan shilling has experienced a whirlwind year. The local currency dropped to record lows pushing up inflation (we import a lot e.g. petroleum products and they were more expensive because of the weaker shilling) and raising the cost of living. Interestingly though, tourism flourished with record tourist arrivals. Why?…
NSE Elects New Chairman
In a press release dated April 10th 2012, the new board of the Nairobi Securities Exchange, at its first official board meeting, re-elected Mr. Eddy Njoroge as the Chairman. Mr. Njoroge joined the board on June 27 2008 and became Chairman in 2009. The board also…
So You Need a Loan to Finance Your House Huh?
Project Finance. That is what Housing Finance, one of Kenya’s biggest mortgage lenders is calling the service. The innovation, aimed at both aspiring and established property developers, is based on a type of financing based on anticipated cash inflows or income of the property being developed. Simply, the…
What Does Your Wallet Say About You?
According to American Express, one of America’s leading credit card companies, over half (52 percent) of consumers aged 18-24 are likely to try new technology-enabled payment tools as they become available compared with 23 percent of those ages 55-65, suggesting that the fate of emerging payments clearly…
Closing Bell 10/4/12
Gainers Price(Ksh) Change(%) Car and General (K) Ltd 25.00 +6.38 Pan Africa Insurance Holdings Ltd 27.50 +5.77 Rea Vipingo Plantations Ltd 15.70 +3.63 Centum Investment Co Ltd 14.10 +2.92 Williamson Tea Kenya Ltd 235.00 +2.17 Losers Price(Ksh) Change(%) Athi River Mining 160.00 -5.88 Jubilee Holdings Ltd 171.00 -3.39 CFC Insurance…
Can You Afford To Quit Your Job?
As Leonard A. Schlesinger, Charles F. Kiefer, and Paul B. Brown say in their blog ‘Choosing between making money and doing what you love’, if you can’t afford to follow your passion, then don’t quit your day job. Even…
2 Million Reasons Not To Cheat In National Exams
The Kenya National Examination Council (KNEC) has released a draft bill (download it here) in which it has proposed stiffer penalties for exam cheats, the intention being to ensure that the integrity of national examinations is upheld. This is a wonderful idea as exam malpractices have…
Why I hate The Tax Collector
Capital punishment: The income tax. ~Jeff Hayes I’ll admit it, I hate paying taxes, moreover income tax. The pain of having to helplessly watch the tax collector take a significant part of my hard earned cash drives me crazy, but there’s nothing I can do since it’s my…
Can Consumers Benefit From Banks' Competition?
Competition has been a very effective tool in making life more affordable for consumers in Kenya and other parts of the world. This has been very evident in the telecommunication industry where the nation witnessed a plunge in calling rates as a result of competition. The same has been evident…
NIC Bank Limited Reports a 46% Profit Increase
NIC Bank Limited has announced its financial results for the year ended 31st December 2011. The bank’s profit before tax has increased 39.078% from Kshs. 2,416,342,000 in the year 2010 to Kshs. 3,360,602,000 in 2011. The company’s total assets grew by Kshs. 18,805,389,000 to close the year at…
Banks Offer Solution To High Interest Rates; Mobility of Collateral
The commercial banks through the Kenya Bankers’ Association have tabled new proposals aimed at convincing legislators to drop their quest to control interest rates. One of the key proposals is to allow banks to transfer existing loans to cheaper rivals- mobility of collateral. This ability to transfer loans means the…
Banks Resist Interest Rate Control.
Commercial banks have remained adamant on the issue of control of interest rates by parliament. Gem MP Jakoyo Midiwo sparked the interest rates debate with his bid to amend the Finance Bill to insert a clause that sets a base for deposit rates and a cap on lending rates. The proposed…
First Customer Experience Center Launched in Kenya
Nakumatt Holdings sets the trend in establishing customer experience centres
Kenya’s Money in the Past (Part 1)
Duncan Ndegwa is a former head of the Kenyan Civil Service and Governor of the Central Bank. He published his autobiography Walking in Kenyatta Struggles in 2006. It’s a tale of history of Kenya, struggle for independence, nation building versus devo...
'Obsess Over Customers', And Other Top Business Tips
Obsess over customers. That is one of Jeff Bezos’s key business tips. Obsess over customers! And it makes a lot of sense. They’re the ones who pay for your product right? They’re the ones who will come back if satisfied and THEY are the ones who will blog and tweet…
1
