Thursday, January 31, 2019

Why arming our security guards is bad for economy

XN Iraki
In the aftermath of the DusitD2 Hotel terrorist attack in Nairobi, it was reported that security guards would be armed in six months. If it comes to pass, the guards, who outnumber police, will be allowed to carry guns. It is not clear what type of guns they will carry. Some have joked that since our policemen recently got new guns, mostly black in colour, there is now plenty of idle guns that can be

State’s appetite for imports starves local industries of growth

Frankline Sunday
Kenya’s manufacturing sector is losing billions of shillings in the much-needed capital to grow the country’s industries, as the Government opts to outsource major projects to developed nations. The State’s move to import more than Sh500 billion worth of manufacturing value from countries such as

Pact with Saudi Arabia raises Kenyan workers’ minimum pay

James Wanzala
Kenya and Saudi Arabia have signed an agreement to improve working conditions for the latter’s citizens in the Middle East state. The pact will see Kenyan domestic workers earn higher perks and other benefits. Labour and Social Protection Cabinet Secretary Ukur Yatani said Kenyans working in

Global tourist arrivals grow six percent to hit 1.4 billion

Philip Mwakio
Global tourist arrival grew 6 percent in 2018, totaling 1.4 billion according to the latest United Nations World Tourism Organization (UNWTO) World Tourism Barometer. UNWTO’s long term forecast issued in 2010 indicated the 1.4 billion mark would be reached in 2020, yet the remarkable growth of international arrivals in recent years has brought it two years ahead. Information contained in the latest online edition of eTurbo news, states that UNWTO estimates that worldwide

Fact Checker: Tax exemptions do not add value to the economy CS Munya

Frankline Sunday
How effective are tax exemptions in attracting Foreign Direct Investments (FDI)? In a recent televised interview, Trade and Industry Cabinet Secretary Peter Munya said part of Kenya’s industrialisation strategy would involve offering tax incentives and holidays to attract foreign direct investment (FDI). “We need to attract large foreign manufacturers to come into the country and we are doing this by ensuring the investment climate is favourable for FDI,” said Munya. “The other

300 markets to receive land title deeds

Mactilda Mbenywe
The Ministry of Lands plans to process title deeds for 300 markets in the county, with both national and county governments waiving initial fees.
 The Ministry of Lands recently reported that majority of schools and public utilities sit on land without title deeds. Chief Administrative Secretary Gideon Mung’aro said the title deeds would be given to residents of the markets to enable the county government to benefit from land rates. Mung’aro said the county was facing numerous succession problems, which had resulted in many

Turkey urged to cut duty on Kenyan tea

Moses Michira
Kenya is seeking a review on the taxation schedule with Turkey to lower entry barriers for local tea exports. This is aimed at raising the two nations’ annual trade volumes to Sh100 billion. Currently, Kenyan tea exports to the European country are subjected to a punitive 125 per cent tax, which more

CBA and NIC merger is set for end of year

Otiato Guguyu
The proposed merger of Commercial Bank of Africa (CBA) and NIC Bank is expected to be finalised by the end of this year. The banking conglomerate arising from the merger of the two lenders associated with the Kenyatta and Ndegwa families, the management said yesterday, was expected to give it increased financial muscle to participate in mega State projects. NIC Managing Director John Gachora said the merger would give the two banks a big balance sheet to leverage national

Alarm as more poisonous products hit the dinner table

Frankline Sunday
Kenyans are consuming food high in poisonous substances as unscrupulous farmers and traders take advantage of laxity in the enforcement of safety regulations. This comes even as the long-awaited regulations aimed at keeping toxic chemicals off the food chain are bogged down by parliamentary bureaucracy, exposing oblivious consumers to life-threatening substances. Yesterday, Nandi County

Kenya bourse aims to launch derivatives market in first half 2019

nse, kenya bourse
A trader monitors stocks at the Nairobi Securities Exchange. The bourse aims to launch derivatives market in first half 2019. FILE PHOTO | NMG 

Absa index paints mixed picture for capital markets

Stockmarkets in the region are dominated by
Stockmarkets in the region are dominated by financial institutions, beverage companies and telecommunications firms. FOTOSEARCH 

Kenya to lift ban on Uganda poultry imports

day-old chicks
Kenya has hinted at lifting the ban on Ugandan poultry products. PHOTO | NMG 
More by this Author
The deadly bird flu that led Kenya to place a ban on Ugandan poultry products has now been controlled, paving the way for the lifting of the embargo.

Fahamu umuhimu wa mikataba ya huduma kwa wateja


Tokeo la picha la sanlam wilson mnzava tanzania
Meneja Mkuu wa Bima ya Maisha Sanlam, Wilson Mnzava (kulia), akikabidhiwa mkataba wa Bima ya Elimu wa "Sanlam Education care" wakati wa uzinduzi wake siku za nyuma
Na Christian Gaya, majira Ijumaa, Februari 01, 2019
Unafikiri kwa nini kuna umuhimu mkubwa kwa kampuni za bima nchini, kuwekea maanani makubwa sana juu ya utoaji wa huduma bora kwa wateja wao. Kwa sasa kampuni na taasisi nyingi zinaendeshwa kwenye mazingira ya ushindani. mkubwa ambao kila siku unaongezeka. Na ushindani huu ni wa kimataifa na wakati huo huo na masoko ulimwenguni...

Lawmakers Laud CBN’s CSR Initiatives

Nume Ekeghe
Members of the House of Representatives Committee on Banking and Currency Thursday commended the Central Bank of Nigeria’s (CBN) for its corporate social responsibility (CSR) projects known ‘Centre of Excellence.’
The lawmakers made the remark during the inspection of one of the on-going project at the University of Lagos.

Nigeria’s Manufacturing Index Rises for 22nd Consecutive Month

Obinna Chima
The Manufacturing Purchasing Managers’ Index (PM) stood at 58.5 index points in January. This indicated an expansion in the manufacturing sector for the 22nd consecutive month.
According to the PMI report for January released Thursday, the index grew at a slower rate when compared to the index in the previous month.

MTN is target of claims, threats in Nigeria’

By Ken Nwogbo
 MTN Group Limited, formerly M-Cell, the South Africa-based multinational mobile telecommunications company, operating in many African, European and Asian countries, is not new to controversies.But MTN’s love for high-risk emerging markets like Nigeria is biting it big time.
The telco has been caught in web of claims, charges, fines and all manners of harassment by all tiers

Fresh round of China-U.S. trade talks start in Washington

China and the United States kicked off here on Wednesday morning a new round of high-level talks to address their differences on outstanding economic and trade issues.
The talks, scheduled for two days, mark a significant step in the implementation of the important consensus reached by Chinese President Xi Jinping and U.S. President Donald Trump during a working dinner in Buenos Aires, Argentina, on Dec. 1.
The two heads of state agreed back then that the two sides should try to reach a mutually beneficial and win-win agreement within 90 days to bring an early end to their months-long trade friction

Tanzania set to register four million new voters for next general elections

Voters casting their votes in one of the polling units Net photo.
Tanzania’s state-owned National Electoral Commission (NEC) will soon embark on an exercise to update its biometric voter registrar (BVR) in which about four million new voters will be registered, a senior official told the National Assembly on Thursday.

U.S., China face deep trade, IP differences in high-level talks

The United States and China have reopened another round of trade talks amid deep differences with both parties hoping to reach a deal before a March 2 U.S. tariff hike. Net.

The United States and China launch a critical round of trade talks on Wednesday amid deep differences over Washington’s demands for structural economic reforms from Beijing that will make it difficult to reach a deal before a March 2 U.S. tariff hike.

Samsung Electronics forecasts weaker 2019 earnings as chip sales slow

Samsung Electronics Co Ltd warned of weaker earnings in 2019 as it posted a 29 percent drop in fourth-quarter operating profit . Sam Ngendahimana
Samsung Electronics Co Ltd warned of weaker earnings in 2019 as it posted a 29 per cent drop in fourth-quarter operating profit on Thursday, hit by a slowdown in demand for memory chips.
The global market leader in computer chips and smartphones said it expected “overall annual

HLB International appoints new member in Rwanda

HLB International, one of the leading global accountancy networks with presence in 140 countries, continues entered the Rwandan market after signing of a new member firm in Rwanda, M.N & Associates CPA.

Rwanda celebrates Heroes’ Day

A view of the Heroes’ Mausoleum in Remera, Gasabo District. Courtesy.
Rwandans will today mark Heroes’Day, an annual event to pay tribute to people who exemplified and defended the highest values of patriotism and sacrifice for the wellbeing of the country and its citizens.
Among others, heroic values celebrated today include proven integrity, patriotism and sacrifice, acts of bravery, setting a good example, truthfulness, and love for others.
Celebrations will be held in villages across the country and discussions will focus on the theme, “Sustaining heroism in a vision we have chosen”.
In the capital Kigali, President Paul Kagame is expected to lead other government officials and families of the country’s celebrated heroes to lay wreaths at their graves at the National Heroes’ Mausoleum in Remera.

Deo Nkusi, CHENO’s Executive Secretary. File.
The Chancellor of the Chancellery for Heroes’, National Orders and Decorations of Honour (CHENO), Pierre-Damien Habumuremyi, has said that the youth need to be guided into maintaining Rwanda’s strong values if the country is to achieve its vision for prosperity.
“We are heading towards vVsion 2050 and we cannot achieve it without heroic values and without the future generation embracing heroic values,” he said last week.
He was launching a weeklong nationwide campaign to promote the values of heroism ahead of Heroes’ Day celebrations today.
Different activities were held during the campaign, which took place from January 25 to 31, including several sports games under ‘Ubutwari tournament’, conferences, talk shows, as well as poem recitals.
CHENO’s Executive Secretary, Deo Nkusi, said that as Rwanda continues to build herself, the challenge today remains how to best instil values of heroism to the country’s youth who are growing in a globalised world.
In an exclusive interview with The New Times this week, the official wondered how to best teach and instil a sense of heroism in the Rwandan children while bearing in mind their way of life is shaped by a fast-paced world.
“We decided that it is important to focus on the youth as heroism is no longer a thing only for the old. The youth are the ones largely working and capable of developing and defending this nation. They have the energy to work,” he said in the interview.
The country has progressively identified brave men and women who have loyally and exceptionally served their country in different capacities and whose deeds inspired many across generations.
Rwanda’s heroes being celebrated today are in three categories: Imanzi, Imena, and Ingenzi.
The Imanzi category, the highest order, features people who registered utmost achievements at the expense of everything, including their own lives.
They include Maj Gen Fred Rwigema, who died on the frontline the day after the launch of the country’s armed liberation struggle in October 1990, and the ‘Unknown Soldier’, who represents all the men and women in uniform who lost their lives during the campaign to liberate the country.
The Imena category comprises of people whose track record includes extraordinary acts for the country and were characterised by utmost sacrifice.
This category includes King Mutara III Rudahigwa Charles Léon Pierre, Michel Rwagasana (special adviser to late King Rudahigwa), and Agathe Uwilingiyimana, the female prime minister who was slain by genocidal government forces within just hours of the start of the 1994 Genocide against the Tutsi.
Others in this category include Félicité Niyitegeka, a Catholic nun who offered shelter to fleeing Tutsi during Genocide only to be killed by the Interahamwe militia alongside the people who she had hid in her house at a parish in Rubavu District; and the Nyange Secondary School students, whose school was attacked by the remnants of the genocidal forces and Interahamwe militia on March 18, 1997 (six of the students were killed on that fateful night).
The Ingenzi category is comprised of living heroes but their list is yet to be published.

Airports agency delays public talks on proposed JKIA takeover

Kenya Airways Kenya Airways will form a special unit to run the facility. FILE PHOTO | NMG 


    • KAA in a notice on Thursday said stakeholder and public engagement regarding the Privately Initiated Investment Proposal (PIIP) by the national carrier, which has only been done so far in Kisumu, will now take place at a later date.
    • The move also comes just a day after the Kenya Aviation Workers Union (Kawu) threatened to go on strike in the next one week claiming that taking over the country’s main airport would render them jobless.

EABL share zooms past Equity on good results

The Kenya Breweries Limited plant in Kisumu. The Kenya Breweries Limited plant in Kisumu. FILE PHOTO | NMG 

Banks forex holdings scale up to Sh314bn

US and Kenyan currency.
US and Kenyan currency. FILE PHOTO | NMG 

CMA reveals phone chats in Kenol insider trading probe

Aly-Khan Satchu
Stock market trader Aly-Khan Satchu. FILE PHOTO | NMG 

EABL interim dividend up for first time in three years

Jane Karuku, Andrew Cowan, Chairman Charles Muchene
From left-Kenya Breweries Limited Managing Director Jane Karuku, EABL Group CEO, Andrew Cowan and group Chairman Charles Muchene during half-year results announcement last week. PHOTO | SALATON NJAU | NMG 

OTT volumes fall to Shs4b in December, URA data indicates

Some social media users have been avoiding t
Some social media users have been avoiding the tax through the use of virtual private networks. PHOTO BY ERONIE KAMUKAMA  
By Christine Kasemiire
Kampala- Over the Top Tax (OTT) collection volumes, commonly known as social media tax, have fallen from an average of Shs6.8b in September to an average of Shs4b in December 2018, according to data from Uganda Revenue Authority.

Kigali 'terrorising' the opposition - exiled Rwanda general

Exiled former Rwandan army chief Faustin
Exiled former Rwandan army chief Faustin Kayumba Nyamwasa. FILE PHOTO 

Uganda seeks return of 'extremist' suspects from Mozambique

The three Ugandan terror suspects paraded
The three Ugandan terror suspects paraded before the media in Nampula Province, Mozambique. Courtesy photo  

Ivory and pangolin scales smuggling bust in Uganda

The full value of the cargo has yet to be
The full value of the cargo has yet to be established but the agency estimated at least 325 elephants would have been killed to acquire the ivory. NMG PHOTO 

Uganda cleared to join extractive initiative

Government spokesperson, Mr Ofwono Opondo. FILE
Government spokesperson, Mr Ofwono Opondo. FILE PHOTO 
Kampala: Cabinet has finally given government the go-ahead to join the Extractive Industries Transparency Initiative (EITI) , a move it said would improve accountability in the management of natural resources.

Museveni roots for infrastructure

Partnership. President Museveni (centre) and
Partnership. President Museveni (centre) and State Minister for Investment Evelyn Anite (3rd right) with a delegation from the Commonwealth Development Corporation after a meeting at State House in Entebbe on Wednesday. Photo BY PPU 
By Franklin Draku
Kampala. Government is focused on developing infrastructure to reduce the cost of doing business in the country, President Museveni has said.



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