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Business

Angry Kenyans Contemplate Quitting Cooperative Bank Over Illicit E-Banking Charges

by Daily Trends January 11, 2023

Kenyans banking with the Co-operative bank of Kenya are angry over what they have termed as illicit charges applied by the bank on their e-banking services.

The Co-operative Bank of Kenya charges clients a total of Sh22 to buy Safaricom credit worth Sh10.

The deductions include a Sh10 for the airtime, Sh10 (bank charges) and Sh2 (excise duty).

Clients have been voicing oppositions over high charges, coming at a time when a majority of them are facing tough economic challenges induced by the coronavirus.

A section of them have taken to social media to claim that they will soon dump the bank over the hiked charges.

MPs increased excise duty on airtime and data to 20 percent from 15 percent, which is expected to earn the Government Sh8 billion from operators such as Safaricom, Telkom and Airtel.

Central Bank of Kenya (CBK) reinstated charges on transfer of funds from Banks to MPesa wallets, representing a win for financial institutions.

On March 16 2020, the Government waived charged as part of an emergency plan to encourage mobile money transaction at the height of Covid-19 pandemic.

January 11, 2023 0 comment

Business

The 10 Richest People in The World In 2022

by Mustafa Juma December 19, 2022

written by Mustafa Juma

Forbes puts the number of billionaires in the world at 2,668 in 2022.

Those who make it to the list are mostly founders of technology giants, with much of their wealth still invested in the companies they started.

With so much of their wealth in publicly traded stocks, the net worth of the richest can fluctuate with market valuations.

Bernard Arnault, co-founder, chair, and CEO of LVMH Moët Hennessy Louis Vuitton, is the richest person and the richest man in the world with a net worth of $172.9 billion.

Behind Arnault is co-founder and CEO of Tesla, Elon Musk who recently bought Twitter.

Below are the 10 wealthiest people on the planet as of the same date, according to the Bloomberg Billionaires Index.

1.Bernard Arnault

Bernard Arnault profile, age, Residence, Networth

Age: 73

Residence: Paris

CEO and Chair: LVMH

Net Worth: $172.9 billion

Christian Dior Ownership Stake: 97.5% ($132 billion total)

Other Assets: Moelis & Company equity ($25 billion public asset) and $10.3 billion in cash

French national Bernard Arnault is the chair and CEO of LVMH, the world’s largest luxury goods company. LVMH brands include Louis Vuitton, Hennessey, Marc Jacobs, and Sephora.

Most of Arnault’s wealth comes from his massive stake in Christian Dior SE, the holding company that controls 41.2% of LVMH. His shares in Christian Dior SE, plus an additional 6.2% in LVMH, are held through his family-owned holding company, Groupe Familial Arnault.

An engineer by training, Arnault first showed his business acumen while working for his father’s construction firm, Ferret-Savinel, taking charge of the company in 1971. He converted Ferret-Savinel to a real estate company named Férinel Inc. in 1979.

2. Elon Musk

Elon Musk profile, age, Residence, Networth

Age: 51

Residence: Texas

Co-founder and CEO: Tesla

Net Worth: $168.5 billion

Tesla Ownership Stake: 15% ($63.6 billion)

Other Assets: Space Exploration Technologies ($46.9 billion private asset), The Boring Company ($3.33 billion private asset), Twitter ($20.2 billion private asset)7

Elon Musk is the second-richest man in the world. He was born in South Africa and attended a university in Canada before transferring to the University of Pennsylvania, where he earned bachelor’s degrees in physics and economics.

Two days after enrolling in a graduate physics program at Stanford University, Musk deferred attendance to launch Zip2, one of the earliest online navigation services. He reinvested a portion of the proceeds from this startup to create X.com, the online payment system that was sold to eBay and ultimately became PayPal Holdings.

In 2004, Musk became a major funder of Tesla Motors (now Tesla), which led to his current position as CEO of the electric vehicle company. In addition to its line of electric automobiles, Tesla produces energy storage devices, automobile accessories, and, through its acquisition of SolarCity in 2016, solar power systems. Musk is also CEO and chief engineer of Space Exploration Technologies (SpaceX), a developer of space launch rockets.

In 2020, Tesla shares soared 740% to propel Musk up the wealth rankings. In December 2020, Tesla joined the S&P 500, becoming the largest company added. In January 2021, Musk became the richest person in the world—a title he held till December 2022, when his net worth fell due to a decrease in Tesla’s share price over the year.

Musk asked his Twitter audience on Nov. 6, 2021, whether he should sell 10% of his Tesla stock, framing the issue as a response to criticism of unrealized capital gains as a means of avoiding taxes. He proceeded to sell shares worth $16.4 billion over the remainder of 2021.

Thanks to the surge in Tesla shares in 2021 and private transactions boosting the reported valuation of SpaceX, Musk’s lead in the global wealth rankings continued to grow. His net worth hit a high of $340 billion in November 2021.

In April 2022, Musk began a campaign to take Twitter private, which culminated in a $44 billion buyout. Musk planned to fund the deal with $21 billion of his own capital. In the run-up to the buyout announcement, Musk sold 9.6 million shares of Tesla, valued at roughly $8.5 billion.

In July 2022, Musk decided to back out of the Twitter buyout. Twitter filed a lawsuit against Musk to force the buyout to go through. Musk countersued the company but then reversed course and declared he was willing to buy Twitter after all. The deal officially closed in October 2022, giving him an almost 80% stake in the company.

3.Gautam Adani

Gautam Adani profile, age, Residence, Networth

Age: 60

Residence: Gurgaon, India

Founder and Chair: Adani Group

Net Worth: $125 billion

Adani Enterprises, Adani Power, and Adani Transmissions Ownership Stakes: 75% each ($72.45 billion)

Other Assets: 66% of Adani Ports & Special Economic Zone ($12.2 billion public asset), 61% of Adani Green Energy ($22.6 billion public asset), 37% of Adani Total Gas ($18.1 billion public asset).

Gautam Adani, the founder of Adani Group, surpassed Mukesh Ambani in March 2022 as the richest person in Asia. Through his ownership of the Adani Group, Adani owns major stakes in six key Indian companies, including a 75% stake in Adani Enterprises, Adani Power, and Adani Transmissions, as well as a 66% stake in Adani Ports & Special Economic Zone, 61% stake in Adani Green Energy, and a 37% stake in Adani Total Gas.

Adani entered the power generation market in 2009 with Adani Power. Adani created Adani Enterprises in 1988 to import and export commodities. In 1994, his company was granted approval to develop a harbor facility at Mundra Port, which is now the largest private port in India.

Adani dropped out of college and previously worked in the diamond trade. Adani now has the largest port operator, closely-held thermal coal producer, and coal trader in India. In 2020, he purchased a 74% stake in Mumbai’s Chhatrapati Shivaji International Airport, India’s second-busiest airport.

4. Bill Gates

Bill Gates profile, age, Residence, Networth

Age: 67

Residence: Washington

Co-founder: Microsoft.

Net Worth: $115 billion

Microsoft Ownership Stake: 1.3% ($26 billion)

Other Assets: $55 billion in cash and billions over multiple other companies.

While attending Harvard University in 1975, Bill Gates went to work alongside his childhood friend Paul Allen to develop new software for the original microcomputers. Following this project’s success, Gates dropped out of Harvard during his junior year and founded Microsoft with Allen.

The largest software company in the world, Microsoft, also produces a line of personal computers, provides email services through its exchange server, and sells video game systems and associated game devices. It has recently invested heavily in cloud services.

Gates shifted from the company’s CEO to the role of board chair in 2008. He joined Berkshire Hathaway’s board in 2004. He stepped down from both boards on March 13, 2020.

Bill Gates has much of his net worth in Cascade Investment LLC. Cascade is a privately-held investment vehicle that owns a variety of stocks including Canadian National Railway, Deere, and Republic Services, as well as private investments in real estate and energy.

5. Jeff Bezos

Jeff Bezos profile, age, Residence, Networth

Age: 58

Residence: Washington

Founder and Executive Chair: Amazon

Net Worth: $114 billion

Amazon Ownership Stake: 10% ($89.9 billion)

Other Assets: Blue Origin ($9.15 billion private asset), The Washington Post ($250 million private asset), and $14.5 billion in cash.

In 1994, Jeff Bezos founded Amazon.com in a garage in Seattle, shortly after he resigned from the hedge fund giant D.E. Shaw. He had originally pitched the idea of an online bookstore to his former boss David E. Shaw, who wasn’t interested.

Though Amazon originally started out selling books, it has since morphed into a one-stop shop for everything under the sun and is expected to overtake Walmart as the world’s largest retailer by 2024. Amazon’s pattern of constant diversification is evident in some of its unexpected expansions, which include acquiring Whole Foods in 2017 and entering the pharmacy business the same year.

Bezos owned as much as 16% of Amazon in 2019 before transferring 4% to his former wife, MacKenzie Scott, as part of their divorce proceedings. In 2020, Amazon’s share price jumped 76% on the heightened demand for online shopping amid the COVID-19 pandemic. On July 5, 2021, Bezos stepped down as CEO of the e-commerce giant, becoming its executive chair.

On July 20, 2021, Bezos, his brother Mark, aviation pioneer Wally Funk, and Dutch student Oliver Daemen completed Blue Origin’s first successful crewed flight, reaching an altitude of more than 66 miles before landing safely. Bezos’ wealth peaked at $211 billion in the same month.

6. Warren Buffett

Warren Buffett profile, age, Residence, Networth

Age: 92

Residence: Nebraska

CEO: Berkshire Hathaway

Net Worth: $108 billion

Berkshire Hathaway Ownership Stake: 14% ($107 billion)

Other Assets: $1.10 billion in cash.

The most famous living value investor, Warren Buffett filed his first tax return in 1944 at age 14, declaring earnings from his boyhood paper route. He first bought shares in a textile company called Berkshire Hathaway in 1962, becoming the majority shareholder by 1965. Buffett expanded the company’s holdings to insurance and other investments in 1967.

Widely known as the Oracle of Omaha, Buffett is a buy-and-hold investor who built his fortune by acquiring undervalued companies. More recently, Berkshire Hathaway has invested in large, well-known companies. Its portfolio of wholly owned subsidiaries includes interests in insurance, energy distribution, and railroads as well as consumer products.

Buffett is a notable Bitcoin skeptic.

7. Larry Ellison

Larry Ellison profile, age, Residence, Networth

Age: 78

Residence: Hawaii

Co-founder, Chair, and CTO: Oracle

Net Worth: $93.7 billion

Oracle Ownership Stake: 40%+ ($68.3 billion)

Other Assets: Tesla equity ($7.56 billion public asset), $17.2 billion in cash.

Larry Ellison was born in New York City to a 19-year-old single mother. After dropping out of the University of Chicago in 1966, Ellison moved to California and worked as a computer programmer.

In 1973, he joined the electronics company Ampex, where he met future partners Ed Oates and Bob Miner. Three years later, Ellison moved to Precision Instruments, serving as the company’s vice president of research and development.

In 1977, Ellison founded Software Development Laboratories alongside Oates and Miner. Two years later, the company released Oracle, the first commercial relational database program to use Structured Query Language. The database program proved so popular that SDL would change its name to Oracle Systems Corporation in 1982. Ellison gave up the CEO role at Oracle in 2014 after 37 years. He joined Tesla’s board in December 2018 and stepped down in June 2022.

Oracle is the world’s second-largest software company, providing a wide variety of cloud computing programs as well as Java and Linux code and the Oracle Exadata computing platform.

Oracle has acquired numerous large companies, including human resources management systems provider PeopleSoft in 2005, customer relationship management applications provider Siebel in 2006, enterprise infrastructure software provider BEA Systems in 2008, and hardware-and-software developer Sun Microsystems in 2009. In December 2021, Oracle agreed to buy medical records software provider Cerner for $28.3 billion in cash.

8. Mukesh Ambani

Mukesh Ambani profile, age, Residence, Networth

Age: 65

Residence: Mumbai, India

Owner: Reliance Industries

Net Worth: $89.6 billion

Reliance Ownership Stake: 42% ($90.1 billion total)

Other Assets: $410 million in real estate.

Mukesh Ambani is the chairman and managing director of Reliance Industries, the world’s largest oil refiner and one of the world’s most valuable companies.

The conglomerate was founded by Ambani’s father, Dhirubhai Ambani in 1966 as a textiles company and is now one of the leading segments of India’s economy. Reliance’s operations include oil and gas, petrochemicals, refining, retail, and media.

About half of Ambani’s wealth is derived from his stake in Reliance, which amounts to 42% of the public company. He owns Antilia, a real estate complex in Mumbai that’s worth $410 million. Ambani also owns the Mumbai Indians, a professional cricket team.

In 2016, Ambani launched a 4G phone network across India, netting more than 420 million subscribers, and is planning to launch 5G services.

9. Steve Ballmer

Steve Ballmer profile, age, Residence, Networth

Age: 66

Residence: Washington

Owner: Los Angeles Clippers

Net Worth: $89.3 billion

Microsoft Ownership Stake: 4% ($80.6 billion total)

Other Assets: Los Angeles Clippers ($3.16 billion private asset), $5.5 billion in cash.

Steve Ballmer joined Microsoft in 1980 after Bill Gates convinced him to drop out of Stanford University’s MBA program. He was Microsoft’s 30th employee. Ballmer went on to succeed Gates as Microsoft CEO in 2000. He held the position until stepping down in 2014. Ballmer oversaw Microsoft’s 2011 purchase of Skype for $8.5 billion.

Ballmer owns an estimated 4% of Microsoft, making him the software giant’s largest individual shareholder. In 2014, shortly after stepping down as Microsoft CEO, Ballmer purchased the Los Angeles Clippers basketball team for $2 billion

Ballmer lived in the same dorm and on the same floor as Bill Gates while the two attended Harvard University.

10. Larry Page

Larry Page profile, age, Residence, Networth

Age: 49

Residence: California

Co-founder and Board Member: Alphabet

Net Worth: $86.9 billion

Alphabet Ownership Stake: 6% ($72.8 billion total)

Other Assets: $14.1 billion in cash.

Like several of the tech billionaires on this list, Larry Page embarked on his path to fame and fortune in a college dorm room. While attending Stanford University in 1995, Page and his friend Sergey Brin came up with the idea of improving Internet data extraction. The duo devised a new search engine technology they dubbed Backrub after its ability to assess links to a page.

From there, Page and Brin went on to found Google in 1998, with Page serving as CEO of the company until 2001, and again between 2011 and 2019.

Google is the world’s dominant Internet search engine, accounting for more than 92% of global search requests. In 2006, the company purchased YouTube, the top platform for user-submitted videos.

Page was among early investors in Planetary Resources, a space exploration and asteroid-mining company. Established in 2009, the company was acquired by blockchain firm ConsenSys in 2018 amid funding problems. He has also shown an interest in flying car companies, investing in both Kitty Hawk and Opener.

Shares of Google soared almost 50% in 2021, moving Page and Brin up the billionaire list. Page’s net worth went from just below $52 billion in March 2020 to the current $86.9 billion.

Who Are the Top 10 Richest People in the World?

The top 10 richest people in the world are:

Bernard Arnault

Elon Musk

Gautam Adani

Bill Gates

Jeff Bezos

Warren Buffett

Larry Ellison

Mukesh Ambani

Steve Ballmer

Larry Page

Who Is the World’s Richest Man in 2022?

As of December 2022, the world’s richest man is Bernard Arnault, the co-founder, CEO, and chair of LVMH. He took over the top spot after Elon Musk’s net worth dropped due to the declining value of Tesla’s stock.

Who Is the Richest Woman in the World?

The richest woman in the world is Francoise Bettencourt Meyers. As of December 2022, her net worth is $73.6 billion. Her net worth is derived from her holdings in L’Oreal, the world’s largest cosmetics company.

December 19, 2022 0 comment

Business

Norsad Capital and TLG Capital establish a $400mn African credit platform

by Daily Trends December 13, 2022

written by Daily Trends

A joint partnership encompassing $400mn in assets under management focused on African small and medium enterprises
The partnership will allow for building and enhancement of the capabilities of both firms by sharing, presenting, and co-investing in well-structured credit investment opportunities with strong layers of downside protection and equity upsides embedded.
Both companies are long-standing investors in the region and alongside financial return, aim to create strong social impact by financing primarily the mid-market growth companies that are profitable, stable, and are poised to expand but lack the required financing to do so.

Norsad Capital and TLG Capital announced today the beginning of a partnership to cement the market leading private credit platform for medium sized companies across sub-Saharan Africa (SSA).

The partnership will allow for building and enhancement of the capabilities of both firms by sharing, presenting, and co-investing in well-structured credit investment opportunities with strong layers of downside protection and equity upsides embedded.

This partnership will, amongst others, further promote syndication opportunities and platforms, risk participation structures, jointly offer larger ticket sizes, and provide a balanced capital offering with a mix of senior and subordinated debt.

Norsad Capital and TLG Capital aim to leverage each other’s structuring and legal expertise, including a presence in SSA, to provide the ideal financing solutions for their clients.

Both companies are long-standing investors in the region and alongside financial return, aim to create strong social impact by financing primarily the mid-market growth companies that are profitable, stable, and are poised to expand but lack the required financing to do so.

The alliance will have combined assets under management of circa US$400 million towards investments in mid-sized companies in sub-Saharan Africa.

Norsad Capital’s aspiration is to positively impact the lives of 100 million Africans by 2030 and target companies that can generate positive social impact and deliver strong financial returns – “profit with purpose”.

Norsad has invested over US$500 million into over 160 companies over its 32-year history.

TLG Capital aims to unlock $5 billion in African economic growth by investing in SMEs to accelerate their growth into Pan-African titans.

Operating with the conviction that great entrepreneurs are transforming Africa’s future, TLG has completed more than 30 investments to date and has exited more than 20 (notably, all with positive IRRs ranging from 6%-35%).

Kenny Nwosu, Chief Executive Officer of Norsad, said, “Our purpose as an organisation is to build a better Africa by providing financing to mid-market growth companies that contribute towards the continent’s economic growth and improvement.

“This partnership with TLG Capital is a demonstration of two entities that have over the years noted that lack of access to finance for businesses in Africa limits their ability to expand.

“We will be bringing our joint expertise to address some of the issues demonstrating our commitment to create sustainable impact in the region.

“Our relationship with TLG Capital has been fostered over time and we are excited to be working with an organisation that shares our vision and is flexible enough to experiment and drive growth in Africa.”

Zain Latif, Partner, and Co-Founder of TLG, said “Norsad is a well-known, well-respected institution within the African investment landscape, and we have known each other for years.

“It is therefore a pleasure to announce we will be working closely going forward, particularly given Norsad have been investing in credit deals in Africa for over three decades, longer than anyone else we have come across.

“Norsad’s focus on creating a positive social return across the regions it invests in also speaks to TLG’s mandate, and we look forward to a bright future together. As we continue to build on our venture financing deals, Norsad is the right partner to help drive that narrative over the next few years.”

December 13, 2022 0 comment

Business

Twitter User Alert: Your Account to Witness a Big Drop In Follower Count, Here is Why

by Mustafa Juma December 1, 2022

written by Mustafa Juma

Twitter users may soon witness a massive follower count drop on their accounts.

This is after the new Twitter owner Elon Musk Thursday morning announced that the micro-blogging platform is currently purging a lot of spam or scam accounts.

As a result, Elon Musk warned that Twitter users may see a drop in their follower account.

“Twitter is purging a lot of spam/scam accounts right now, so you may see your follower count drop,” tweeted Elon Musk.

Twitter is purging a lot of spam/scam accounts right now, so you may see your follower count drop
— Elon Musk (@elonmusk) December 1, 2022

Elon Musk has been promising Twitter users that he will get rid of the accounts that deal with spam and scam.

He also claims that bots are big problem for the platform. We can’t be certain if this purge will also decrease the overall presence of bots on the micro-blogging platform.

December 1, 2022 0 comment

Business

“You Will Burn In Hell,” Moses Kuria Fires Back At Kenyans Reacting To His GMO Death Risk Remarks

by Mustafa Juma November 19, 2022

written by Mustafa Juma

Trade Cabinet Secretary Moses Kuria has fired back at Kenyans reacting to his recent GMO death risk remarks.

This is after a conversation erupted online in response to Trade CS Kuria’s remarks on why the government lifted the ban on GMOs despite the life threatening risks.

In his remarks Thursday, the CS said as it stands, Kenyans are staring at death courtesy of a myriad of risks and there’s nothing wrong with adding GMOs on the list of risks.

Moses Kuria spoke during a press conference at which he announced that the government will soon allow a six-month duty free importation of 10 million bags of GMO and non-GMO maize for food security.

The remarks went viral in a video clip that was widely shared on social media platforms, sparking mixed reactions.

However, MMoses Kuria seems unshaken by the mixed reactions Kenyans have expressed.

Through his official Twitter handle, Kuria on Saturday afternoon said those against his remarks were “rich idlers and Twitterati with a bowl of pizza and fishfingers” who don’t care about those dying of hunger.

He rremarked that the attackers of the government’s GMO policy will equally burn in hell.

“It is completely callous for rich idlers and Twitterati with a bowl of pizza and fishfingers to continue attacking our GMO policy while Hustlers are dying of hunger and poisoned donkey meat. You will burn in hell, ” CS Moses Kuria remarked.

It is completely callous for rich idlers and Twitterati with a bowl of pizza and fishfingers to continue attacking our GMO policy while Hustlers are dying of hunger and poisoned donkey meat. You will burn in hell
— CS Moses Kuria (@HonMoses_Kuria) November 19, 2022

The government early last month lifted the 10-year ban on importation and open cultivation of GMO food crops and animal feeds.

However, there are several risks associated with the consumption of genetically modified organisms.

The main concerns involve allergies, cancer, and environmental issues, all of which may affect the consumer.

GMOs are also thought to contribute to antibiotic resistance.

November 19, 2022 0 comment

Business

Joshua Oigara Appointed Stanbic Bank CEO

by Mustafa Juma November 16, 2022

written by Mustafa Juma

Former Kenya Commercial Bank (KCB) Managing Director Joshua Oigara has been appointed as Chief Executive Officer for Stanbic Bank Kenya and South Sudan.

His appointment takes effect from December 1, 2022.

Oigara left KCB after serving for nine years.

He had spearheaded the company to greater heights during his time with the institution. He had seen the bank grow its revenues substantially, and his role in building partnerships with other companies, including Safaricom had also allowed the bank to expand its offerings, including products such as KCB M-PESA, and its stake in overdraft Fuliza alongside NCBA.

Oigara will report directly to Standard Bank East Africa Regional CEO, Patrick Mweheire.

Stanbic bank is a member of the Standard Bank Group.

Oigara’s appointment follows the exit of the current MD Charles Mudiwa who retires later this year.

Mudiwa plans to retire after a long and illustrious career at the bank spanning more than two decades.

The bank said in a statement on Tuesday that the retirement will take effect on December 31.

November 16, 2022 0 comment

Business

Bluebird Aviation to Help Ease Flight Disruptions Caused By KQ Pilots’ Strike

by Mustafa Juma November 7, 2022

written by Mustafa Juma

Bluebird Aviation is ready to help ease the current flight disruptions that have been caused by the ongoing Kenya Airways (KQ) pilots’ strike.

The airline in a press statement announced that it is ready to take up passengers on charter flights.

Bluebird Aviation General Manager Captain Hussein Mohammed said all passengers currently stranded in various airports should try out the airline’s unrivalled experience with more customised services.

“ We are ready to take in passengers on charter flight basis. We welcome all passengers currently stranded in various airports to come and savour our unrivalled experience with more customised services,” said Captain Mohammed.

Kenya Airways on Saturday requested its passengers to cancel their tickets for other available airlines.

The KQ pilots have gone on a strike to protest against failure to implement pay rise.

November 7, 2022 0 comment

Business

Fly 748 Flight Bookings Soar Amid KQ Pilots’ Strike

by Daily Trends November 6, 2022

written by Daily Trends

Fly 748 has seen an increase in flight bookings.

This is after Kenya Airways asked its passengers to opt for available airlines following aviation workers and pilots strike that kicked off Saturday.

KQ Pilots are protesting against failure to implement a pay rise.

Dozens of flights were disrupted at Jomo Kenyatta International Airport (JKIA) in Nairobi after Kenya Airways (KQ) pilots went on strike to protest the withdrawal of their provident fund by their employer.

The Kenya Airline Pilots Association (Kalpa), which draws a bulk of its membership from KQ, called for industrial action to protest non-payment of monthly pension contributions for staff, failure to implement pay agreements (CBA), and alleged victimisation of its members.

Fly 748 Managing Director Moses Mwangi in a statement sent to newsroom said the airline begun experiencing a surge in bookings from Saturday as he affirmed the airline has the ability to take up extra capacity.

“Over the last 24 hours we have experience rise in bookings including dignitaries. We will continue to monitor the situation and open more flights as the need arises,” said Mwangi.

“While the situation is to our advantage and other domestic operators, we hope that the current impasse at the national carrier will be resolved soonest, meanwhile we want to assure passengers that we have the capacity to ease current disruptions” he said.

Since June 2020, Fly 748 has been on an aggressive domestic routes expansion from flying to the Mara only, to now flying to flying daily to Malindi, Ukunda, Mombasa and twice weekly to Kisumu to support growth of business and leisure tourism.

November 6, 2022 0 comment

Business

Itel Kenya Launches The Highly Ranked Itel S18

by Daily Trends October 29, 2022

written by Daily Trends

Itel Kenya has launched the highly ranked itel S18, a compact and stylish smartphone that is their flagship 4G model as opposed to all other existing models.

The series that was unveiled at an event held at Serena Hotel on Friday succeeds itel S17 from late last year.

This year itel received a number of global recognitions from industrial media and organizations.

First is, among this year’s Top 100 Most Admired Brands in Africa that was announced by African Business magazine.

Itel was also recognized by the Titans of Tech Awards as 2022 Best Tech Company of the Decade for their continuous contribution over the decades in bringing tech innovation and products to the African market.

As a warmhearted brand advocating love and corporate social responsibility, itel gained the Most Committed Brand to Humanitarian Service Award by African Brand Congress 2022.

“S18 was designed to help users create their unique and fancy videos in an easier way. With selfie and vlog trend on the rise, itel has an in-depth research on short video shooting functions to encourage everyone become a lifestyle vlogger without downloading other video clip apps,” said Ray Fang, the country manager.

The country manager also added that “S18 is the beginning of itel’s brand new 4G experience, which means that itel will keep providing better innovation and service supported by the Android 12 (Go edition) .We are glad about the prospects, opportunities and user experience that the smartphone will create in their day to day interaction.

“Mr Patrick “Marketing Manager” For the past years, thanks to your relentless support and company, we have been able to achieve numbers of remarkable milestones and expand our presence in over 50 emerging markets globally. In 2022, itel remains No.1 Global Smartphone brand under $100 and No.1 global feature phone brand.”

October 29, 2022 0 comment

Business

Fly 748 Eyes More Flight Bookings in 2022 Last Quarter

by Mustafa Juma October 28, 2022

written by Mustafa Juma

Renown airline Fly 748 has projected an increase in flight bookings in the last quarter of 2022.

In a press statement sent to news rooms Friday, the airlines Managing Director Moses Mwangi said people are also looking to travel even more post-Covid 19 pandemic as aggressive marketing campaigns by tourism and travel industry stakeholders following the lifting of COVID-19 restrictions are helping drive up numbers.

“The travel and tourism industries are giving travelers more reasons to fly and visit destinations not only like how they used to travel before COVID-19. It is now beyond this and we are glad that people are also looking to travel even more post-pandemic,” said Mwangi.

Africa’s international arrival numbers have reached 60 percent of 2019 levels, the same level as global figures on strong pent-up demand and easing or lifting of travel restrictions.

This is according to the latest UNWTO World Tourism Barometer.

Mwangi who was speaking on the sidelines of this year’s Getaway 2022 Tourism Fair being held at the Sarit expo Center and running from the 28th – 30th October showcased Fly 748’s exciting travel packages.

“We are here to showcase exciting travel packages for our existing and new customers, this is plartfom that helps our wider initiative of demistifying air travel in the country,” he said.

This annual fair gives Sarit Centre shoppers the perfect opportunity to interact and book holiday packages with Kenya’s leading hotels, resorts, lodges, tented camps, airlines, & tour and travel operators for the Christmas season and beyond in a comfortable and secure environment.

Over the last two years the airline has been on an aggressive domestic routes expansion from flying to the Mara only.

Now the operator flys daily to Malindi, Ukunda, Mombasa and Kisumu to support growth of business and leisure tourism.

October 28, 2022 0 comment

Business

PELUM Kenya: GMO Not Safe For Human Consumption

by Pauline Waswa October 19, 2022

written by Pauline Waswa

The lifting of the ban on Genetically Modified Organism (GMO) food in Kenya has attracted mixed reactions among Kenyans and different organizations that advocate for consumption of indigenous food.

The cabinet that lifted the ban noted that they have done a wide consultation from the experts and as a way to control hunger that is being experienced in different parts of the country, they settled on giving it a try to increase the response to the drought ravaging parts of the country.

Safety of GMO

PELUM Kenya, an organization that comprises 57 different groups and advocates for small farmers to embrace agro ecology conducted training on farmers from Rift-Western Kenya Zone to sensitize them on GMO and why them, as agro ecological champions are against it.

Beth Omae who is the zonal coordinator said that in agro ecology, they embrace art, science and technology but as champions, they want to ensure that food security is enhanced in the country.

“There was a test that was done by a scientist called Erick Seralini whereby he tried the GMO maize on some rats and they turned out to have a big tumor in their body and that’s evident that it is not safe for human consumption. We want to make sure that we have food that is safe and good for our health,” she said.

Agro ecological champions

She went ahead to ask the government to engage the agro ecological champions for them to put across their opinion on why they are against the decision of allowing the discussion of GMO being incorporated in the agriculture system in the country.

The Anglican Development Services (ADS) western region led by Samuel Akollo, the programs manager also disputed the decision by the cabinet saying that the government should look at the food security in wholesomeness and ensure the actualization of the constitution article 11 section 3b.

The article says that the parliament will enact legislation that will protect the indigenous seed and plant varieties for the community and the useful of the community but as per now nothing has been done to protect the ecosystem.

Akollo noted that the government needs to sit with the stakeholders and discuss the safety of the indigenous seed and the safety of GMO on human health.

October 19, 2022 0 comment

Business

Nairobi West Hospital Launches First Ever Bone Marrow Transplant Unit in Kenya

by Daily Trends October 18, 2022

written by Daily Trends

The Nairobi West Hospital has launched the first Bone Marrow Transplant Unit in Kenya.

The unit provides a broad range of integrated and patient-centric services for the diagnosis and management of all kinds of blood disorders in adults and children, including cancers of the blood.

The Nairobi West Hospital Chief Medical Director Professor Andrew Kanyi Gachii who spoke during the launch noted that the importance of access to quality, affordable specialised healthcare in Kenya has been a major pain point for most patients who have to travel abroad for advanced medical procedures like a bone marrow transplant.

Medical tourism destination

According to him, an effective bone marrow transplant unit backed by world leading specialists could make Kenya a medical tourism destination.

The Bone Marrow Transplant Unit is an integral part of The Nairobi West Hospital, one of Kenya’s leading Level 6B multidisciplinary hospitals.

Easy access to bone marrow transplants

The hospital aims to provide easy access to bone marrow transplants as a possible cure for patients with complex blood disorders.

“Our dedicated and internationally recognised transplant specialists embrace the values of innovation, collaboration, confidentiality, empathy, integrity, and focus on providing comprehensive care to all patients. This is also an aim to be the leading BMT unit not only in East Africa, but across Africa,” Prof Kanyi Gachii noted.

Cure in treating blood cancers

Dr. Guarav Dixit, Head of the Bone Marrow Transplant Unit at The Nairobi West Hospital noted that in some instances, BMT offers the only hope of cure in treating blood cancers like Acute Myeloid Leukaemia (AML) and Acute Lymphocytic Leukaemia (ALL), that would be otherwise be difficult to treat with conventional chemotherapy alone.

“It is usually a safe procedure for patients with sickle cell disease , if done at a young age. Other emerging indications that can be treated with BMT include Multiple Sclerosis and Paediatric immunodeficiencies.

“It is important to note that this therapy is evidence-based across the globe, and now readily available in Kenya to all who may need it in a world class facility that can rival many in the west,” he added.

Dr. Kibet Shikuku, Chief Consulting Pathologist for The Nairobi West Hospital, further said that the cancer burden is rising globally, exerting significant strain on populations and health systems at all income levels.

“Being diagnosed with blood cancer can bring fear, frustration and uncertainty. When detected and treated early however, blood cancer can be treated successfully. We are fortunate to have local healthcare providers like The Nairobi West Hospital which offers an effective and holistic treatment plan for patients,” he said.

October 18, 2022 0 comment

Business

Safaricom Restores Lawyer Ahmednasir’s Line After “Threats”

by Mustafa Juma October 16, 2022

written by Mustafa Juma

Safaricom has restored lawyer Ahmednasir Abdullahi’s sim card after he threatened to shift to their competitors.

The flamboyant lawyer had on Sunday morning shared his disappointments after the giant telco switched off his line after the deadline issued by the Communications Authority of Kenya lapsed.

The Communication Authority of Kenya (CA) had announced that it will not extend the deadline for the fourth time after it was extended on April 15, 2022.

CA was forced to extend registration exercise amid complaints from the members of the public, a majority of whom were yet to be registered.

Switched off lines will no longer access crucial services such as M-Pesa or Airtel Money, send texts or make calls after deactivations.

However, after crying foul on social media, Safaricom restored Ahmednasir’s line.

Taking to his official Twitter handles this morning, Ahmednasir said Safaricom had unceremoniously switched off his line despite him being their loyal customer for the past 25 years.

“After 2 and half decades of being a loyal customer of Safaricom, they unceremoniously switched off my line this Sunday,” he said.

The senior counsel added that he will be moving to the giant telecommunications company’s competitor starting Monday October 17, 2022.

He noted that after moving to one of Safaricom’s competitors, he will never turn back to use their service again.

After his line was restored, the lawyer now says that his office will do the needful tomorrow.

“Glad that @Safaricom_Care restored my line…that was the sensible thing to do…and my office kesho will do the needful,” he said.

Glad that @Safaricom_Care restored my line…that was the sensible thing to do…and my office kesho will do the needful.
— Ahmednasir Abdullahi SC (@ahmednasirlaw) October 16, 2022

Regular plans to switch off unregistered lines kicked off Saturday midnight.

As of Friday , Safaricom was leading with the number of registered clients with 38 million (91 per cent) followed by Airtel 13.4 million (48 per cent) and Telkom Kenya 1.8 million (40 percent).

As a result, CA said that a total of 500,000 lines had been deregistered between the month of January-June 2022.

Customers whose line will have been closed will have a window period of three-months to re-register their SIMs as long as they provide ownership proofs.

The 2015 CA’s Registration of SIM Card Regulations prohibits SIM cards hawking, slapping a six-month jail term, a Sh300,000 or both for those contravening the law.

October 16, 2022 0 comment

Business

Lawyer Ahmednasir Cries Foul As Safaricom Switches Off His Line, Reveals Next Action As Thousands Are Affected

by Mustafa Juma October 16, 2022

written by Mustafa Juma

Flamboyant lawyer Ahmednasir Abdullahi is crying foul after Safaricom switched off his Sim card Sunday morning.

Taking to his official Twitter handles this morning, Ahmednasir said Safaricom had unceremoniously switched off his line despite him being their loyal customer for the past 25 years.

“After 2 and half decades of being a loyal customer of Safaricom, they unceremoniously switched off my line this Sunday,” he said.

The senior counsel added that he will be moving to the giant telecommunications company’s competitor starting Monday October 17, 2022.

He noted that after moving to one of Safaricom’s competitors, he will never turn back to use their service again.

Ahmednasir further blamed the Safaricom CEO Peter Ndegwa for what had befallen him.

Safaricom CEO Peter Ndegwa. Photo/Courtesy

“Tomorrow I will move to one of the competitors and will NEVER use their service again.I knew that short man will burn to ashes the House built by Michael!” added Ahmednasir.

After 2 and half decades of being a loyal customer of @Safaricom_Care they unceremoniously switched off my line this sunday…tomorrow I will move to one of the competitors and will NEVER use their service again.I knew that short man will burn to ashes the House built by Michael!
— Ahmednasir Abdullahi SC (@ahmednasirlaw) October 16, 2022