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Category: BUSINESS

  • Super Metro adds first electric bus to its fleet for operation on CBD-Kikuyu and CBD-Kitengela Routes

    Super Metro adds first electric bus to its fleet for operation on CBD-Kikuyu and CBD-Kitengela Routes

    Super Metro Sacco, one of Nairobi’s leading public transport operators, today announced the introduction of its first electric bus as part of its fleet. Supplied by Kenyan electric mobility startup BasiGo, the 25-seater K6 Electric bus starts operating today and will ply the CBD to Kikuyu and CBD to Kitengela routes.

    Commenting on this, Jit Bhattacharya, CEO BasiGo said, ‘’Kenya has a vibrant public transport system that provides a vital service to millions of people each day. Today, we are proud to hand over this transformative bus to Super Metro, one of Nairobi’s leading public transport operators.  Through this partnership, BasiGo and Super Metro are bringing Nairobi commuters a cleaner, quieter and more comfortable journey on buses powered by 90% renewable energy generated right here in Kenya.”

    Adding to this, Super Metro Sacco chairperson, Nelson Mwangi Nduki said, ‘’Super Metro prides itself on providing excellent and seamless services to our customers. Our decision to introduce electric buses into our fleet is therefore based on our desire to be a leading and efficient transport partner for all our commuters. We have acquired the bus to offer our customers a top-notch ride experience and look forward to hearing positive feedback from our drivers and passengers. To mark our first electric ride, all passengers who ride on our electric bus today will enjoy a free ride.  In addition, since it’s Valentine’s Day, we’re sharing the love with our passengers by giving a cupcake to everyone who rides on our electric bus today.’’ He concluded.

    The K6 is a 25-seat, 250 km range electric bus that recharges in less than 4 hours and is designed by BYD Automotive, the largest manufacturer of electric vehicles in the world.  The K6 electric bus introduced by BasiGo includes a premium passenger coach with synthetic leather seats, free WiFi, USB charging ports and an onboard television screen.

    Since launching in March 2022, BasiGo’s electric buses have driven over 150,000 kilometers and carried over 200,000 passengers as part of fleet operations with 2 Nairobi bus operators.. BasiGo plans to supply over 1,000 locally manufactured mass transit electric buses to transport operators in Kenya over the next three years.

  • Safaricom Foundation equips health centres in Uasin Gishu and Taita Taveta counties to boost maternal and neo-natal services

    Safaricom Foundation equips health centres in Uasin Gishu and Taita Taveta counties to boost maternal and neo-natal services

    Safaricom Foundation, through its Ndoto Zetu initiative, has equipped four health centres in Uasin Gishu and Taita Taveta counties in a bid to boost delivery of Maternal and Neo-Natal health care.

    In Uasin Gishu County, Chepkero Dispensary received hospital beds to increase its capacity for in-patient maternal health services.

    In Taita Taveta County, Ghazi Dispensary in Voi, Wesu sub-County Hospital and Werugha Health Centre in Wundanyi received modern delivery beds and pre-natal equipment, which will bring maternity services closer to the community. The pre-natal units were equipped with incubators, heaters and phototherapy units to provide medical support to pre-term infants.

    “Health is a major priority of the Ndoto Zetu initiative, which aims to empower communities. We have now started commissioning health projects in this latest phase in response to the proposals we received from Kenyans. Maternal health is a key area where we need to boost the capacities of facilities and health workers to improve service delivery. Our long-term vision as a Foundation is to reduce maternal and infant mortality to near zero,” said Joe Ogutu, Chairman, Safaricom Foundation.

    The KES 2 million investment in the projects has ensured that the health centres are well-equipped to handle medical emergencies.

    Ndoto Zetu is Safaricom Foundation’s flagship philanthropic initiative, which calls on Kenyans to partner with the Foundation to actualise their community’s dreams and aspirations.

    Over the next three months, Safaricom Foundation will commission over 400 Ndoto Zetu projects targeting two million beneficiaries in health, education and economic empowerment worth KES 100 million.

  • NBK Appoints George Odhiambo as the Managing Director

    NBK Appoints George Odhiambo as the Managing Director

    The National Bank of Kenya (NBK) Board of Directors has appointed George Odhiambo as the Managing Director. The position was previously held in an acting capacity by Peter Kioko, the Finance and Strategy Director since June 2022.

    George, a seasoned banker, is the outgoing MD BPR Bank Rwanda Plc since its inception last year, following the merger between KCB Bank Rwanda Plc and Banque Populaire du Rwanda. George was the immediate former MD, KCB Bank Rwanda Plc and joined KCB in 2009 as Head, Business Analytics, KCB Bank Kenya. He has previously served in various leadership roles in banks locally and internationally.

    NBK Board Director Dr. James Bagaka said: “The Board takes this opportunity to welcome and congratulate George on his appointment. We believe he has what it takes to drive the future success and growth of NBK.”

    George holds an MSc in Pure Mathematics and BSc in Mathematical Statistics from the University of Nairobi. He has also acquired several leadership certifications such as Practitioner Diploma in Executive Coaching and Postgraduate Diploma in Corporate Governance from the Academy of Executive Coaching, UK and the Centre for Corporate Governance & KCA University respectively. He is a member of the COMESA Business Council Advisory Board and Chairs the Banking Sub-Sector Committee, among other roles.

    “George has been instrumental in strengthening and growing the Rwanda business. His broad management experience will be invaluable to the NBK leadership to execute the business strategy of innovation and growth,” said KCB Group CEO Paul Russo.

    NBK posted a profit after tax of KShs. 886 million in its third quarter results ending September 30, 2022, compared with KShs. 1,172 million a similar period in 2021. Net interest income grew by 14% from the previous year to KShs. 6.9 billion.

  • First Community bank Kenya exposed by depositors

    First Community bank Kenya exposed by depositors

    According to the Weekly vision, a local media platform, the Cash-strapped First Community Bank’s woes are far from over. the local daily reports that clients are facing difficult situations at the moment as they can no longer access their accounts for withdrawals. That the situation at First Community Bank has been a source of growing concern for depositors in recent months is no longer news. The source says the bank will soon close down or be put under receivership by the Central Bank of Kenya to save customers’ money from sinking with the bank.

    One client in Garissa town is the latest victim of the bank. The client’s family has a patient suffering from kidney failure, unfortunately for them cannot access funds they had deposited in the bank after conducting a fundraising event to meet the costly medical expenses where Ksh.3m was raised and deposited at First Community Bank.

    Sometimes around 22nd December 2022, the family went to the bank to make withdrawals for the patient’s treatment, but they were shocked when the bank informed them that the maximum withdrawal they could make was only Ksh. 20,000.
    The family withdrew then only Ksh. 20,000 out of the Sh3m deposited, attempts to make further withdrawals have been futile. The only answer given by the branch manager is that the bank does not have cash since they only do withdrawals and no deposits.

    It is worth noting that the bank is unable to meet its obligations and it has been going on for some time now. There is fear that the bank could be sinking with the customer’s deposits and that is why they have put maximum withdrawal at only Ksh. 20,000 per week for each customer.

    Other clients at the Garissa Town branch have experienced the same. Another client had gone to withdraw Ksh. 5,000 but was turned away by the teller who indicated to him that there is no money, while another client only withdrew Ksh. 2,000 instead of the 10,000 that he desperately needed
    First Community Bank first started facing liquidity problems in mid-2022, but management dismissed the reports then as rumours from ‘malicious sources’. However, by October 2022, the complaints persisted, and a series of panic withdrawals badly impacted the bank as it placed limits on cheque clearance and withdrawals following an advisory from the banking sector regulator, the CBK.

    To save its dwindling financial fortune, the bank once assured its customers that it was working on ways to solve the liquidity problem, but close to three months later, the situation remains unchanged. The situation seems to have gotten worse, as some customers now say they cannot even access the capped amounts. As of January 2023, the maximum amount that a customer could withdraw was 20,000 Kenyan shillings per day.

  • DIB Bank Kenya trains Women on Entrepreneurship and Financial Literacy

    DIB Bank Kenya trains Women on Entrepreneurship and Financial Literacy

    DIB Bank Kenya held an engagement session with women customers to unpack the basics of Islamic Finance and the available opportunities.

    DIB Bank Kenya today hosted women for a financial conference aimed at empowering them on entrepreneurship and financial literacy on Islamic Banking at Ole Sereni Hotel, Nairobi.

    The conference, whose focus was on “Money talks every woman should have in her 20’s, 30’s, 40’s and 50’s”, brought together over 200 women from different religious affiliations across the country and unpacked the basics on women’s personal finance, savings and investment, shariah of money, and business management.

    Speaking at the event, DIB Bank Kenya Ag. CEO Rose Kagucia outlined the bank’s position on supporting women in the country.

    “I believe it is time we adopt a culture of teaching our generation about financial literacy from a young age. This will give us a great foundation as we prepare for the uncertainties that come with an ever-changing environment. This conference has provided an avenue to speak to the most productive of women and I’m certain it will have a great impact on all of us going forward,” said Rose Kagucia.

    “For a while, women have faced challenges when it comes to financial independence and growth. I’m happy that as society evolves, women are rising up to take on challenges in business, leadership and the socio-political arenas. This conference has brought together great minds and I hope everyone who was here has learnt a lot about women’s personal finance, savings, and investment, shariah of money, and business management,” She added.

    The conference attracted various stakeholders from across the board including policymakers, politicians, investors, economists, academics, and non-state actors who provided a lively mix of speeches, panel discussions and interviews.

    “Such engagements provide a lifetime opportunity for people to learn, interact and network on financial matters that are crucial in today’s life. I hope each one of us here has benefited and we look forward to more of such engagement around the country.” Said H.E Nathif Jama Adam, Governor of Garissa County

    The rising demand for shariah-compliant products and services has seen Islamic Finance gain popularity over the past decade. However, lack of public knowledge has hindered its maximisation, which is why this conference aims to help bridge the existing gaps in literacy and misconception especially on the customer base that Islamic Finance covers.

  • Why Makaoplus is the Real Estate Developer of Choice


    For most Kenyans, one of their topmost dreams is to own a home and they always strive to invest in it. But the cost of land coupled with high cost of living makes that dream to just remain a wish.
    But there’s some good news from a company that has come up with an affordable way through which Kenyans especially the low and middle income bracket own property.
    James Mwangi is the founder and Chief Executive Officer of Makaoplus Properties which is a subsidiary of A-Plus Motors Ltd.
    He says, “We are offering you a deal of the year “Isinya Best Estate “.The project is 50X100 Plots. Commercial and residential located in Isinya Town(Which is within Nairobi Metropolitan) touching Isinya-Kiserian Road.
    The beauty of this property is that it already has ready title deeds. The property is going for Cash price Kshs.1M & Kshs.1.1M with up to 6 months instalments. For more information call/whatsapp 0705333222 /0704333222/ 0732333220.”

    Newscentre.co.ke Digital wishes Mwangi A Plus all the best.

  • Samburu North Mp Hon. Eli Letapila distributes nutrition foods to Pupils

    Samburu North Mp Hon. Eli Letapila distributes nutrition foods to Pupils

    By Steve El Sabai.

    It was a great day at Barsaloi as The area Mp Hon Eli Letapila together with the Senator Hon Lelegwe Ltumbesi as they distributed over 6 tones of high nutrition foods to Barsaloi Arid Zone primary school. The initiative is a deliberate effort by Hon Eli to increase and boost enrollment of new pupils in the school..Speaking at the particular drive , The honorable member was very optimistically that the move help to retain kids in school through out the learning callender.

    “We are having serious plans to make the school a comprehensive school with the support of the Barsaloi Parish and also thelocal communities”, said the Mp.

    Hon Eli assured the parents and pupils that he will work closely with all stakeholders to achieve full realization of better learning and equal opportunities for all in the entire constituency .

  • LG Rolls Out Miraclass- New LED Screen Brand to Meet Growing Consumer Demand in Theatres and Cinemas

    LG Rolls Out Miraclass- New LED Screen Brand to Meet Growing Consumer Demand in Theatres and Cinemas

    ·         LG Miraclass is capable of displaying 68.7 billion color variations, enabling viewers to experience movies just as their creators intended them to be seen.

    ·         Currently, it consists of four product lineups offering different sizes (from 14 to 101 square meters) and screen resolutions (4K/2K) to choose from.

     LG Electronics (LG) has rolled out a new LED screen brand dubbed LG Miraclass aimed at enhancing movie enthusiasts viewing experience. The name ‘Miraclass’ – a combination of the words Miracle and Class – means incredible image quality that can enhance audiences’ sense of immersion.

    Targeted at cinemas and theatres, the new brand which leverages LED Technology seeks to present moviegoers with new, premium services and immersive viewing experiences, by delivering realistic images with natural colors and deep blacks.

    In his remarks, while announcing the launch, senior vice president and head of the Information Display business unit of LG Electronics Business Solutions Company, Paik Ki-mun said “To accommodate rising demand and the diverse requirements of movie theater companies, more lineups and models will be introduced in the future. In this case, LG is confident that LG Miraclass will satisfy the needs of operators and meet the expectations of moviegoers seeking memorable cinematic experiences”.

    Built with advanced LED technology, LG Miraclass displays help bring movies to life, improving the theater-going experience and offering new value to venue owners and operators.  Currently, it consists of four product lineups offering different sizes (from 14 to 101 square meters) and screen resolutions (4K/2K) to choose from.

    At five meters wide, models LDAA025-1 and LDAA012 are good options for small-capacity theaters, which have become increasingly popular with audiences in recent years. All Miraclass displays provide compatibility with Dolby’s Integrated Media Server, IMS3000, meaning theater owners can deliver premium images and sound to elevate the customer experience.

    Employing self-emissive LED pixels, each LG Miraclass model delivers 24-bit color processing and outstanding contrast to give on-screen images depth and vibrancy. They also boast strong, consistent brightness with no corner dimming, and produce clear, distortion-free pictures. What’s more, LG Miraclass is capable of displaying 68.7 billion color variations, enabling viewers to experience movies just as their creators intended them to be seen.

    Besides, this new theatre solution provides easy management for movie theater operators thanks to its intuitive software and facilitates greater space efficiency by eliminating the need for projection rooms. Additionally, the screen brightness of LG Miraclass can be adjusted across five stages, from 48 to 300 nits, offering suitability for various use scenarios: from playing 2D/3D movies to delivering content for company presentations or special ceremonies.

    Despite the relative newness of LED movie screens, LG’s LED-based displays can already be found in several major theater chains around the world.

     

  • LGs New Refrigerant Solution for Buildings to Save Users Up To 25 Percent of Energy

    LGs New Refrigerant Solution for Buildings to Save Users Up To 25 Percent of Energy

    ·         The New Multi V I will be powered by an AI Engine and features an AI Indoor Space Care that helps to maintain a steady temperature and reduce energy consumption by automatically turning on indoor units in occupied areas, and turning them off in unoccupied areas.

    ·         The solution has the capacity to offer full cooling performance at a hot environment up to 43 degrees Celsius, while heating up the space at its fullest even at as low as negative 30 degrees Celsius.

    LG Electronics (LG) has announced the launch of the new Multi V™ I, a Variable Refrigerant Flow (VRF) solution equipped with the company’s highly evolved AI engine.

    Equipped with advanced AI software, the company’s new, high-efficiency VRF solution is aimed at delivering a smarter, more comfortable indoor environment and a quieter outdoor environment – all year round. It is made suitable for mid- to high-rise buildings, such as offices, schools, shopping malls, and apartment buildings or hotels.

    Giving his remarks while announcing the new solution, James Lee, head of the Air Solution Business Unit at LG Electronics Home Appliance & Air Solution Company said, “We are glad to have marked this milestone. As a firm, it is our commitment to continue to deliver complete air solutions leveraging our cutting-edge AI and industry-leading HVAC technologies. With the Multi V I, we hope our customers can save more energy and enjoy a more conducive environment”.

    AI Smart Care

    On energy saving, the MultiV has a sophisticated AI engine that enables AI Smart Care, which leverages spatial and situational learning to optimize operation; adjusting cooling or heating power according to several variables, including the number of people in the room, humidity levels, and indoor and outside ambient temperature.

    This enables the product to improve energy savings by up to 24.7 percent.1 Meanwhile, AI Indoor Space Care helps maintain a steady temperature and reduce energy consumption by automatically turning on indoor units in occupied areas, and turning them off in unoccupied areas.

    AI Energy Management

    Besides, it is embedded with an AI Energy Management feature that allows users to set energy consumption targets, which can help to lower the overall power usage of the Multi V I

    Noise Target Control

    The AI engine also helps to enhance the comfort of those living in neighboring apartments or houses. Users can set an operational noise limit (from 50 to 70 decibels2) in advance to ensure that the sound produced by the outdoor unit does not exceed the level of volume they’ve specified.

    Weather Information Interlocking Control

    Providing smart performance and convenience, the Weather Information Interlocking Control feature of LG’s VRF solution automatically selects custom operation modes – including Automatic Pre-heating and Automatic Snow Removal – based on the weather conditions.3 Automatic Pre-heating allows users to enjoy a warm indoor environment, even on the coldest days of the year, by automatically heating the room in advance, while Automatic Snow Removal prevents snow from accumulating and freezing on the outdoor unit.

    Powerful Performance

    Boasting powerful performance even at extreme weather conditions, the Multi V i has surpassed its predecessor, the Multi V 5, to become the most energy efficient LG VRF solution yet. 4 The new biomimetic fan and the compact orifice are designed to offer lower noise and fan-motor power consumption than the previous model.5

    Not only can it save energy, but the outstanding new model provides fresh, comfortable indoor air in any season, offering full cooling performance at a hot environment up to 43 degrees Celsius6, while heating up the space at its fullest even at as low as negative 30 degrees Celsius.7

     

    AI Smart Up

    The Multi V i’s AI engine powers a variety of smart features, such as Auto Tuning and Remote Upgrade, which help to improve convenience and the overall user experience. The Auto Tuning system automatically tunes the compressor and motor during initial installation or when they need replacing, allowing for faster and easier setup and servicing.

    Meanwhile, with the Remote Upgrade system, LG’s VRF solution can be automatically updated to the latest software version without an on-site service visit. Furthermore, the Multi V I offers AI Smart Diagnosis, which provides automated system analysis and easy-to-read status reports to help reduce service times and boost reliability.

  • GO ELECTRIC LTD APPOINTS NEW CORPORATE DIRECTOR TO SPUR ELECTRICAL MOBILITY IN AFRICA

    GO ELECTRIC LTD APPOINTS NEW CORPORATE DIRECTOR TO SPUR ELECTRICAL MOBILITY IN AFRICA

    Electric vehicle (EV) dealer, Go Electric Limited, has picked Ms. Eve Maina as the new Corporate Director to spur electrical mobility growth in Africa as the firm seeks to expand its wing in the Kenyan market and the East African region. Ms. Maina holds a Master’s Degree in Business Administration and is a graduate of Stern of Business New York University, USA, and Central European University Business School in Budapest, Hungary. She is an expert in strategy development with a main focus on emerging and developing markets, financial management, and transnational leadership. Prior to joining Go Electric Ltd, Ms. Maina served as the CEO of Taxiye Ltd between 2020 and 2021, in charge of strategy and business development of the company’s expansion into the East Africa region. During her tenure, she developed innovative business models that saw Taxiye grow its market share and mitigate risks by 34% within a period of 3 months. She was also instrumental in creating market entry strategies that attracted more than 6,000 riders and approximately 2, 000 drivers from across the country. Early this year, Go Electric launched the first ever fully electric and solar-powered vehicles dubbed UTU in the East African market, in an event that was held at Naivasha Buffalo Mall. Further, the company announced that they were investing KES 2 billion to import more vehicles and help the country as attention shifted to e-mobility. Electric vehicles are seen as a game changer in the East African market that has for long being dominated by fossil-fuel vehicles. They come with reduced running costs, in cutting the use of fuel and reduction of operational costs. Thus, owners of the EV who want to venture in public transport will save more money than their counterparts, because of the reduced engine maintenance costs. From her wide experience, Ms. Maina will oversee the revamping of the market entry strategies that will increase ownership of electric vehicles. Speaking while announcing the appointment, Paul Njeru, RMD Go Electric Ltd said, “As we continue to invest in E-mobility and provide solutions for Kenyans who want to own vehicles with less operational costs, we are also committed to scaling our operations, distribution infrastructure and expanding our footprint. I have confidence in Evelyn Maina because of her experience in strategy and vision planning, forging and maintaining partnerships, and business positioning. She is going to use her wide business network that spans North America, Africa, and East and Central Europe to turn around the business for profitable sales.” Ms. Maina joins the team at a time Go Electric Ltd is targeting to tap highly talented C-Suite executives to match their competition, offering fossil-fuel vehicles. Although Kenya is almost entirely reliant on fossil fuel vehicles, there is a global paradigm shift to electrical vehicles mainly to tame the increasing carbon dioxide emissions in the Ozone layer, leading to environmental pollution. Speaking on her appointment, Evelyn said, “I am delighted for the appointment to join a team of vastly experienced members who are committed to innovating and changing the world technologically. I am humbled at the opportunity and commit to the management that I will meet and exceed their expectations of making Go Electric the largest supplier of Electric Vehicles in East Africa.” EVs have existed in the past, although with little popularity, and thus did not gain significant traction. Some of the changes that will revert the trend include the reduction of acquisition costs and the availability of solar canopy services to ease charging. Go electric offers buyers of EVs a wide range of charging options and solutions including charging piles, wall box ports, and solar panel-shaded carports. About Go Electric Ltd Go Electric is an Electric Vehicle (EV) dealer that provides EV solutions to the African market. It offers a wide range of products from electric cars, tricycles, buses, motorcycles, and electric charging solutions. Go Electric Ltd is the sole dealer of Electric vehicles and solar vehicles dubbed Utu. Utu EVs are designed for African roads as they are designed in Kenya even though manufactured in China hence offering a unique combination of local innovation and global manufacturing. The brand is currently available in Uganda, Kenya, Tanzania, Rwanda, Malawi, and Mozambique among other African countries. It was recently recognized awarded in an attentional award dubbed Pacesetters Awards East Africa as the Pacesetter in Electric mobility in East Africa. The company has been at the forefront of spurring the uptake of EVs through its various initiatives such as the establishment of various solar and electric vehicle charging hubs.