Business & Economy thread

[desert burner]

The government is banking on small and medium enterprises (SMEs) to spur industrial growth.

And to achieve this, training for 630 entrepreneurs under the Jitihada business plan competition kicked-off on Tuesday.

The initiative is meant to provide participants with innovative ideas, expert coaching and individual mentorship to help them develop and refine their business plans.

The five-day event going on simultaneously in the eight provinces will provide a detailed overview of a business plan and cover topics such as entrepreneurship and communication, strategic and business planning, marketing, operations, human resources and finance among others.

“Entrepreneurs will be equipped with knowledge and skills to develop competitive strategies, source suitable markets, manage finances better and generate viable solutions for their businesses,” said Minister for Industrialisation Henry Kosgey in a speech read on his behalf by Mr John Mosonik secretary in the ministry in Nairobi.

At the end of training, top three trainees from each province will receive special recognition and cash awards of Sh100,000, Sh75,000 and Sh50,000 respectively before proceeding to the national level at which the top entrepreneur will receive Sh1 million.

Aftercare business development services and guidance in financial and market linkages will be provided to all applicants in the Jitihada business plan competition when the whole exercise is done.

Statistics indicate that small and medium sized businesses contribute over 75 per cent of the country’s wealth and create about 80 per cent of jobs opportunities in Kenya.

Jitihada is a programme under the Micro, Small and Medium Enterprises competitive project in the Ministry of Industrialisation.

Implemented by the Kenya Institute of Management, Jomo Kenyatta University of Agriculture and Technology and TechnoServe, the plan seeks to identify growth oriented and innovative business ideas that can be nurtured into vibrant and sustainable business enterprises.

[desert burner]

http://www.standardmedia.co.ke/Insid...cil%20projects

[desert burner]

http://www.businessdailyafrica.com/-...9/-/index.html

[desert burner]

http://www.businessdailyafrica.com/-...d/-/index.html

[desert burner]

Foreign investors from the United Kingdom (UK) are seeking to build partnerships and increase investment in Kenya.
A delegation led by Birmingham Chamber of Commerce and Industry (BCCI), one of Britain’s leading support organisations, is in the country to explore new investment opportunities.
The group include companies wanting to invest in key development sectors like water, roads and renewable energy and offering goods and services tailored to the Kenyan business and consumers.
The trade mission is also expected to travel to Uganda and Tanzania to look for other regional investment opportunities.
Mr Jonathan Webber, head of the delegation and director of the International Trade at BCCI, is also expected to push for the strengthening of local chambers of commerce in Kenya, Uganda, Ethiopia, Burundi and Mauritius.
Amongst the companies representatives include solar experts (Daima Energy Solutions) and Octagon Europe Ltd.
clean energy
Daima’s plans to manufacturer solar energy products locally is expected to have real impact in Kenya by providing affordable clean energy, creating job opportunities particularly targeted at the youth and raising environmental awareness amongst consumers.
Octagon Europe, which offers sustainable and affordable housing solutions, hopes to work with agencies, Government and local business to ensure that slum dwellers, refugees and internally displaced people have access to decent and durable housing.
The British High Commission’s UK Trade and Investment team (UKTI), which facilitated the visit, have created targeted programme for each of the delegates in the mission, focusing on meetings with local businesses.
The move is part of UKTI’s efforts to encourage investments in Kenya and build on the strong commercial links that exists between the two countries.
The British High Commission said the current BCCI mission underlined the interest from UK companies in doing business in Kenya, and the East African region.

[Kenguy]

Keep it up DB. Sometimes I dont really have time to go through business news in the daily papers. I find this a good way to catch up on the news.

[desert burner]

Originally Posted by Kenguy

Keep it up DB. Sometimes I dont really have time to go through business news in the daily papers. I find this a good way to catch up on the news.

damn, this left me in stitches, wewe ni mkali kweli

[desert burner]

Pastoralists and livestock farmers who lost entire herds during the recent drought will benefit from Government restocking exercise, Director of Livestock Julius Kiptarus has said.

The director said Sh130 million had been set aside to buy heifers and goats, which would be distributed in most affected districts.

He said 81 districts were worst hit by the famine.

"We are working with district steering committees to evaluate the number of people affected before we start restocking," Mr Kiptarus said.

At the same time, Kiptarus announced the ministry had used Sh200 million to buy vaccines and a similar amount to buy animal feeds and supplements for weak animals.

He was speaking at Dairy Training Institute in Naivasha at the end of a one-week course on poultry production and value addition sponsored by the Israeli government.

Restored hope

He said the drought cost the livestock sector Sh20 billion in terms of dead animals and lost products.

The director announced 300,000 cattle and more than 200,000 goats and sheep were lost to drought.

Meanwhile, residents of Naivasha have reason to smile as water levels in Lake Naivasha have risen as rains continue to pound the area.

The rains restored hope to thousands of lake water users including fishermen after the water level started to rise.

River Malewa, which drains its water into the lake, started flowing again thus increasing the water level that had drastically reduced by a third. According to Mr David Kilo of the lake’s anti-poaching unit, water levels had risen by close to a metre in the last one-week.

Effects of rain

"We have noticed considerable changes and if rains continue for a month, the levels will rise even higher," said Kilo. He was, however, quick to note watercolour had changed, a situation he attributed to siltation.

On his part, District Fisheries Officer Vincent Kinyua said effects of the rain were yet to be fully felt in the lake, but expressed hope situation would soon change.

Elsewhere, a senior State official has urged people living in the Lake Victoria basin to use Nile waters.

Industrialisation PS John Lonyangapuo said the Nile Treaty, which allowed only Egypt and Sudan exclusive use of the water should be ignored.

The PS said the treaty was to blame for massive poverty among people living in the basin.

[desert burner]

http://www.businessdailyafrica.com/C...z/-/index.html

[desert burner]

http://www.businessdailyafrica.com/-...o/-/index.html

[desert burner]

http://www.businessdailyafrica.com/C...z/-/index.html

[desert burner]

http://www.businessdailyafrica.com/C...z/-/index.html

[desert burner]

The government is expected to reintroduce the much-touted comprehensive National Social Health Insurance Fund early next year, Medical Services minister Prof Anyang’ Nyong’o said on Tuesday.

Prof Nyong’o said the Kenyan healthcare system has become too costly due to a high rate of defaulting on payments, and hence the reason he wanted the proposed scheme to be reintroduced.

“All the previous contentious issues in the scheme have been solved and we are only waiting for the cabinet approval,” Prof Nyong’o said.

Under the proposed scheme, the government would be required to set a certain amount of money from the exchequer to cater for the health services of the poor.

The scheme is a modification of the one passed by Parliament in 2005 but which President Mwai Kibaki declined to assent to.

He said the bone of contention in 2005 was how to pay for those who didn’t contribute to the fund particularly the poor.

The scheme was compulsory, but the minister says the current arrangement is optional but poor Kenyans will be catered for by the government.

Prof Nyong’o spoke at the launch of a new health insurance product dubbed Blue by CfC Life in partnership with Liberty Health, a wholly owned subsidiary of the Standard Bank Group of South Africa.

The product, in two options, Blue Gold and Blue Diamond, will have full cover on treatment of chronic conditions such as asthma, diabetes, hypertension and HIV and AIDS.

CfC Life managing director, Mr Abel Munda said Blue will provide a dedicated client liaison officer and a 24-hour advice and support across Africa which will also include specialised care for chronic disease management.

Many Kenyans lack access to health care, with general medical inflation standing at 35 per cent.

In addition, only two per cent of the Kenyan population is covered by private insurance companies for healthcare, while another 10 per cent can afford medical cover but do not have it, which means most Kenyans are exposed.

The health situation is further compounded by the fact that the number of chronic diseases is reported to be on the increase with cases of cancer doubling every year.

As a signatory to the World Health Organisation Abuja Declaration, Kenya is required to spend at least 15 per cent of its national income (Gross Domestic Product) on health, up from the current ten per cent.

[desert burner]

The European Union has said it will spend Sh10 billion in Kenya over the next five years on various development projects.

Head of delegation to Kenya Eric Van der Linden on Tuesday said the grants were part of Kenya-EU developmental support programme aimed at poverty alleviation and economic development.

In a statement, Mr Linden cautioned local authorities against misuse of donor funds and called on non-governmental organisations and Kenyans to monitor such projects to ensure transparency and accountability.

He said that the EU support to Kenya targets projects that have direct socio-economic impact on the poor and vulnerable groups while at the same time addressing accountability among leaders.

The EU’s rural poverty reduction and local government support programme has donated Sh4.8 million for the rehabilitation of the Mwandoro-Takaungu and Rojo-Konjora roads within Kilifi Town and a water pipe line at Bamba in the newly created Ganze District.

[desert burner]

http://www.nation.co.ke/business/new...z/-/index.html

[desert burner]

http://www.nation.co.ke/business/new...z/-/index.html

[desert burner]

It is now mandatory for all employers to contribute retirement savings for their workers to the National Social Security Fund (NSSF).

The new law — that took effect two weeks ago — requires all employers with one or more employees to remit pension to NSSF from November 1, thanks to a gazette notice by Labour Minister John Munyes on October 30.

Alex Kazongo, NSSF Managing Trustee at a media briefing. Photo:Mbugua Kibera /Standard

This means employers, including small enterprises and those who employ domestic and farm workers, must contribute to the State pension fund.

"All employers are now required by law to remit pension to NSSF," said Alex Kazongo, the managing trustee of NSSF.

Criminal offence

"Those that will not comply will be treated as criminal offences and will face the full force of the law under the NSSF Act."

Previously, only employers who had five workers or more were required to contribute retirement savings to NSSF.

The new law also applies to casual workers who have been in employment for more than three months.

By enacting the new law, NSSF has extended the net of employers contributing to the retirement kitty by two million in the formal sector and six million in the

Informal sector.

With the new rules, no employer will be exempted from the provisions of the NSSF Act on the strength of having an in-house occupational pension scheme.

Such an exemption is now subject to the Minister of Labour approval upon recommendation by the board of trustees of NSSF, on account that such an employer operates a universal national scheme that is comparable to NSSF.

Minimum contribution

Currently, NSSF is the only scheme catering for all.

Under the new arrangement, each employer will be required to remit Sh400 — which is the minimum contribution a month — out of which the employer contributes half the amount and recovers the other half from the employee’s salary.

There is also the option of workers topping up their contributions, by paying more than the minimum amount set by the law.

In an advertisement in local dailies yesterday, NSSF said all employers with one or more employees that haven’t registered with NSSF are required to do so within three weeks.

According to NSSF, the new laws are meant to level the playing for all employers and ensure that employees save for their sunset years.

"Millions of Kenyans are living in destitution in retirement even after working for years," said Mr Kazongo.

[desert burner]

Momul Tea factory in Kericho West District is the first factory to receive the Rainforest Alliance Certification.

The certification will enable the factory, which is affiliated to the Kenya Tea Development Agency (KTDA), to sell its processed tea at a premium in the international market, and channel the increased earnings to the small-scale farmers who supply it with tea.

Milestone

While receiving the certification yesterday at the factory, KTDA National Vice-Chairman, Philip Ng’etich, said the move marked a milestone for the tea industry, adding that the agency was committed to ensuring that all its factories were operating in line with acceptable international standards.

Rainforest Alliance will expect the factory to produce tea sustainably, and take an active role in environmental conservation.

"This is a clear demonstration that our factories have achieved world class standards. We must not rest because we will undergo annual audits and we will also need to reapply every three years," he added.

While presenting the certificate, Rainforest Alliance manager for East Africa and South Asia, Marc Monsarrat, said small-scale farmers would benefit from empowerment that will result in better crop husbandry.

Ng’etich noted that all KTDA factories have achieved international certifications, including the ISO 90001-2000 and the ethical Tea Partnership certification, while another 10 factories have attained Fairtrade certification.

Momul serves the small-scale holder tea sub-sector, and has a capacity to process 10 million kilogrammes of tea annually.

[desert burner]

http://www.businessdailyafrica.com/C...z/-/index.html

[desert burner]

http://www.businessdailyafrica.com/C...z/-/index.html