Author: Newsroom

In Brief
Newsroom

Aga Khan University’s e-book chronicles 10 years of quality teaching

The Aga Khan University (AKU) has launched an e-book, which is a compilation of impact stories in higher education, as it celebrates its 10-year anniversary. AKU is a non-profit institution and a unit of the Aga Khan Development Network. Over the past decade, AKU has transformed the landscape of higher education at the university and in the communities they serve. The e-book, titled “Transforming Teaching & Learning in Higher Education: Stories of Impact from the Aga Khan University,” was co-broadcast with Advance HE in the UK. It includes retrospective stories from faculty and academic staff who illustrate the transformative power of education and the AKU’s

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ILAM Fahari I-REIT
MarketsNews
Newsroom

ILAM FAHARI I-REIT redemption oversubscribed by 13.08 percent

The redemption offer for ILAM Fahari Real Estate Investment Trust, a real estate investment trust listed on the Nairobi Securities Exchange (NSE), has been oversubscribed by 13.08 percent. This development now clears the path for the next stage of strategic restructuring for this investment vehicle. Dislosures show that throughout the offer period, the REIT Trustee received applications for the redemption of 41,371,604 units, representing a subscription rate of 113.08 percent. Additionally, the REIT received applications for topping up additional units, totaling 421,945, from Non-Professional Investors. In announcing the results of the offer, Mr. Einstein Kihanda, CEO of ICEA LION Asset Management (ILAM), stated that the…

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Cybersecurity
Technology
Newsroom

Escalating cybercrime in Kenya fuels calls for heightened data security

Businesses and government entities have been challenged to prioritize investments in modern technologies that can safeguard sensitive data and vital systems against the ever-evolving landscape of cyber threats. This was the primary call to action following a meeting organised by tech giant Safaricom as part of Cybersecurity Awareness Month.  In a summit held under the theme “Becoming a Cyber Resilient Organization,” over 400 cybersecurity industry leaders and professionals engaged in crucial discussions surrounding the latest cybersecurity trends and the evolution of enterprise networks. “Attackers are constantly working on designing, building, and evolving solutions to bypass or overcome the most advanced cybersecurity solutions. This has created

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Prince Harris Taga
Counties
Newsroom

Prince Harris Taga: The Maasai Mara national hero

In the heart of Kenya, where the untamed savannah stretches as far as the eye can see, and the rhythms of nature govern life, Prince Harris Taga, affectionately known as Prince Harris, has emerged as a beacon of hope and change. His unwavering dedication to the Maasai Mara National Reserve, a treasure trove of biodiversity, earned him the prestigious National Heroes Award at the Mashujaa Day Celebrations. However, Prince Harris’s journey from a local Maasai tribesman to a national hero transcends mere accolades. He is the visionary founder of Mara Napa Camp, a social impact luxury camp, and the tireless president of both the Mara

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QNET
Health
Newsroom

QNET marks 25 years of pioneering health, sustainability

For 25 years, QNET—a global company with a focus on wellness and lifestyle—has not only savored success but also demonstrated its commitment to health and environmental responsibility. QNET held a remarkable double convention in September 2023. This occasion attracted a total of 20,000 attendees from over 20 countries. In marking 25 years in business, QNET has unveiled two innovative products, reaffirming its dedication to healthier living and eco-conscious choices. The star product was the Homepure Nova with Pi-Plus Cartridge, an upgraded version of HomePure Nova 9-stage water filtration system. This innovation promises enhanced hydration and a boost of antioxidant benefits in your drinking water. Commitment

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KCB Mastercard
In Brief
Newsroom

KCB’s elite cards target high net-worth customers

Lender KCB has intensified its campaign to attract high net-worth customers with the launch of the World Elite Exclusive Credit Card. In partnership with payment services giant Mastercard, KCB announces that the new offering will provide customers with a range of market-exclusive benefits, privileges, and experiences. The cards will be available in two categories: World Elite KES Credit, tailored for high-net-worth individuals who prefer transactions in Kenyan Shillings, and World Elite USD Credit, designed for those engaging in frequent international transactions in US Dollars. Furthermore, the bank has introduced the World Debit card, which will offer exclusive benefits and privileges, ensuring personalized and tailored banking

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Sports
Newsroom

200 golfers to grace KCB East Africa golf tour in Kigali

More than 200 golfers are set to take center stage at the KCB East Africa Golf Tour, which will be held at the 18-hole Kigali Golf Course this upcoming weekend. Both professional and amateur golfers are gearing up for action this Saturday, with the morning session set to commence at 6:00 am and the afternoon tee-off scheduled for 12:00pm in the vibrant capital city of Rwanda. As of now, 12 teams have successfully qualified for the eagerly anticipated Pro-Am grand finale event, which is slated to host 132 players at the Karen Country Club on November 24, 2023. The event will also welcome one team

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In Brief
Newsroom

Absa’s Wezesha Stock offers SMEs up to Sh10 million in loans

Absa Bank Kenya has introduced a new digital platform dubbed “Wezesha Stock” aimed at optimizing inventory management and trade for small and medium enterprises (SMEs). Under Wezesha Stock, the lender will be providing automated loans of between Kes100,000 and Kes10 million to businesses dealing in Fast Moving Consumer Goods, agro-processing, oil marketing, and agrochemicals business segments. Wezesha Stock, which will be operating in real-time, is set to revolutionize stock financing for retailers while at the same time catering to their financing needs. Additionally, Absa says it will enable the seamless onboarding of retailers, efficient stock order management, and use data analytics to facilitate unsecured stock

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Corporate
Newsroom

Consumer lobby claims insurance companies in breach of law

The Consumer Federation of Kenya has filed a petition against the insurance regulator and a host of companies including Madisson Insurance, Xplico, Invesco, Monarch among others for collecting premiums without the capacity to settle claims. Cofek Secretary General Stephen Mutoro has gone to court alleging the regulator has allowed several companies to flout capital adequacy rules putting customer premiums at risk. The country has failed to strictly implement the capital adequacy ratios on insurance companies that would have led to consolidation of weak players. The previous regime under CS Ukur Yatai said the government slackened compliance on the back of Covid-19 challenges which has left

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KRA
Markets
Newsroom

KRA to onboard informal sector players into the tax net

The Kenya Revenue Authority (KRA) is developing policies and measures to bring thousands of small-scale businesses and players in the informal sector into the country’s tax system. The informal sector, mainly comprising SMEs, employs approximately 15 million people in Kenya, representing 83 percent of the country’s total labour force. KRA views this segment as having significant potential and aims to promote tax compliance within it. During the 2023 Annual Tax Summit, KRA’s Commissioner-General, Mr Humphrey Wattanga, stated, “One of the initiatives under KRA’s tax base expansion programme is netting the informal sector into the tax bracket, the majority of whom are the MSMEs. This, therefore,

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