Faulu Bank has revamped its product suite to empower Small and Medium Enterprises (SMEs) to navigate the challenging economic landscape. Recognising the rising costs and evolving needs of SMEs, the bank has introduced a range of enhanced offerings across key areas: Business Lending Expanded working capital financing options. Enhanced asset financing solutions for equipment and machinery. Streamlined trade finance solutions to support import/export activities. Transaction Services Competitive SME current accounts with optimized fee structures. Seamless customer payments facilitated by Faulu Merchant Pay bills. Robust cash management solutions for efficient financial operations. Savings & Investment Attractive SME savings accounts with competitive…
Author: Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
For business owners and individuals, January can often present financial challenges after the festive season. Restocking your business, paying school fees, or managing daily expenses can strain your budget. But what if you could navigate “Njaanuary” with confidence and seize opportunities without financial worries? Boostika is your financial safety net, designed to help you bridge funding gaps quickly and conveniently. Whether you’re a small business owner looking to restock inventory or an individual needing to cover school fees, Boostika provides the instant cash cushion you need to thrive, even in January. How Boostika Works It’s simple and convenient. When you’re…
The Communications Authority (CA) proposes new regulations for internet cafes in Kenya. Currently, these establishments are licensed under the category of Public Communication Access Centers (PCACs), but the CA argues that this existing framework is insufficient to address the growing number and complexity of internet cafes. To enhance oversight and security, the CA proposes to introduce a new “Internet Cafe” license category. This will involve: Reclassifying: Redefining internet cafes as a distinct license category separate from PCACs. Enhanced Licensing: Implementing a “Class License” for internet cafes, which will outline specific requirements and obligations for operators. Proposed Regulations for Internet Cafes…
Etihad Airways has resumed its flights between Nairobi, Kenya, and Abu Dhabi, UAE, after a five-year absence. The inaugural flight landed on December 15, 2024, at Jomo Kenyatta International Airport (JKIA) in Nairobi, marking a significant milestone for both countries. A Long-Awaited Return The suspension of Etihad’s Nairobi route in 2020 was attributed to the impact of the COVID-19 pandemic on global travel. While the airline initially planned to resume services in May 2024, delays ensued due to unforeseen circumstances. Following an August 2024 announcement, Etihad will operate four weekly nonstop flights between Abu Dhabi International Airport (AUH) and JKIA.…
The Kenyan High Court has declared the new university funding model illegal and unconstitutional. In a ruling delivered on Friday, December 20, Justice Chacha Mwita found that the funding model introduced in May 2022 lacks a legal foundation, is discriminatory, and failed to undergo proper public participation. “It should have been subjected to public scrutiny and comment before implementation,” Justice Mwita stated. The judge ruled that the model, a key initiative of President William Ruto, did not comply with necessary legal procedures. Consequently, Justice Mwita directed the Education Cabinet Secretary, the Attorney General, the Higher Education Loans Board (HELB), the…
Amsons Group successfully acquired a 96.54% stake in Bamburi Cement, exceeding the threshold required for a potential delisting from the Nairobi Securities Exchange (NSE). The takeover commenced with a block trade of 137.1 million shares on December 18th, 2024. A subsequent transaction on December 19th acquired 212.7 million shares, bringing the total acquired to 350.4 million shares. Savannah Clinker withdrew its offer, leaving Amsons as the sole bidder. Delisting Potential With over 90% shareholding, Amsons may seek to delist Bamburi Cement from the NSE, subject to regulatory approvals. Fincem Holding Limited and Kencem Holding Limited were the largest shareholders, each…