Author: James Wambua

KCB Group
ClimateNews
James Wambua

KCB, UNITAR launch 100,000 e-bikes project to power green jobs

KCB will provide financing for riders to acquire e-bikes and Tuktuks in a plan that will see 100,000 riders benefit in the next six years. This plan, which will be executed in partnership with the United Nations Institute for Training and Research (UNITAR),  is expected to create over 150,000 new green jobs in the boda-boda sector. KCB will provide green affordable loans to the riders to acquire electric bikes and tuktuks through local electric motorbikes sellers. The project was commissioned by the Cabinet Secretary, Roads and Transport Kipchumba Murkomen in Nairobi and has been rolled out in Machakos County. A plan is underway to extend it…

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Absa Credit Card
CorporateNews
James Wambua

In a first, Absa credit card offers buy now, pay later options

If you’ve been patiently waiting for a great deal on buying that massive TV such as Samsung 98″ NEO-QLED going for 1.39 million at Hotpoint Appliances Sarit Centre, a washing machine, or better yet a cool freezer, Absa Kenya has a great deal that you can take advantage of. What’s more, with increasing number of families’ income squeezed thin by inflation, holiday travel plans become harder to realize, but Absa has news for you on how you can get it done with ease. Absa Bank Kenya has launched Buy now, Lipa pole pole, a product financing program that allows clients to purchase high-value products and…

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Mozilla
NewsTechnology
James Wambua

Kenyan innovators win Sh13 million in Mozilla Africa challenge

The winners will also get technical support to improve their goods and enter the market. The goal of Mozilla Africa Innovation Challenge program is to solve problems in Africa using tech. About 308 active tech start-ups in Kenya employ over 11,000 people. Three tech start-ups: Getpayd, Deaf Elimu and Hali Halisi, and three student-led innovators—Classify Me, Audred and Mama Pesa—have received a total of Kes13 million in grants in the just concluded Mozilla Africa Innovation Challenge held in Nairobi. The winners will also get technical support to improve their goods and establish a place in the market. The program’s goal is to find African digital…

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KCB Foundation
CorporateNews
James Wambua

KCB backing schools’ transition to clean energy

All secondary schools in Kenya, both public and private, would be able to access KCB funding. KCB Foundation will raise between 10% and 30% cost of purchasing LPG system. About 90 percent of public schools in Kenya use firewood for cooking. KCB has unveiled an ambitious plan to extend financial support to learning institutions to transition to clean energy cooking solutions. The undertaking will be carried under the regional lender’s social investment arm, KCB Foundation. KCB Foundation will contribute between 10 percent and 30 percent of the cost of liquefied petroleum gas (LPG) system. All secondary schools in Kenya, both public and private, would be able…

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William Ruto Finance Bill 2023
EconomyNews
James Wambua

Housing levy, higher fuel costs to hit Kenyans starting July 1st

President William Ruto has assented to the Finance Bill, 2023 and the Appropriations Bill, 2023 ushering in a new age of strained household earnings as the housing levy and 16 percent VAT on fuel are expected to thrust millions of Kenyans into harder economic circumstances beginning on July 1st. Finance Bill 2023 introduces a number of tax measures that Dr Ruto hopes will raise enough resources to finance his Kenya Kwanza administration manifesto and campaign promises such as affordable housing. As the government increases the existing 8 percent fuel VAT to 16 percent, thousands of motorists should expect to pay more at the pump. The…

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Illicit alcohol in Kenya
EconomyNews
James Wambua

Advance excise duty payment plan will choke alcohol makers, drive up illicits

Alcohol manufacturers in Kenya have protested President William Ruto’s administration’s decision to require them to pay excise duty in advance, arguing that doing so will not only strain their businesses but also drive up the prevalence of illicit liquor. Alcoholic Beverages Association of Kenya (ABAK), the industry lobby, claimed that forcing alcohol producers to pay excise duty within 24 hours after removing their products from the stockroom was a policy declaration that would punish innocent players due to failures in tackling illicit alcohol in Kenya. They claimed that although the plan was intended to assist stop the trafficking of illicit alcohol, it is more likely…

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WRC KCB
NewsSports
James Wambua

WRC Safari Rally 2023 is off to a great start

The 2023 World Rally Championships (WRC) Safari Rally got off to a thrilling start today for the much anticipated 4-day event that will be held at Naivasha, Nakuru County as bigwigs go head-to-head. As the official financial partner, KCB Bank Kenya will provide Kes150 million to this year’s race, which will mark 20 years since the regional banking giant began supporting racing in Kenya. A total of Kes100 million of the sponsorship money will go directly to the 2023 WRC Safari Rally event, while Kes50 million will go toward sponsoring three local drivers, brand activations, and customer engagements.  Nikhil Sachania, Evans Kavisi, and KNRC champion…

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Transcentury CEO
CorporateNews
James Wambua

East African Cables administration halted

Equity Bank has been barred from assigning an administrator to East African Cables. The injunction is based on the fact that while the parties were in negotiations, Equity Bank went ahead to appoint an administrator. “I am glad that the brief setback that this unfortunate action had brought to the business is behind us and we can now focus on what we do best, providing quality cables to our customers across the region Said Dr. M. G Waweru on receiving the injunction. Just one day prior, sister firm TransCentury got a similar injunction after Equity Group announced Messrs. Muniu Thoithi and George Weru from PricewaterhouseCoopers…

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