source:
source:
Doubting Thomases, I wish you well :colgate:.
Patriotic Kenyans, let's do our part to help not only meet but exceed these expectations. God bless Kenya!
Kenya's Lion Economy | Ready for take-off
KenyaMerican
source:
Doubting Thomases, I wish you well :colgate:.
Patriotic Kenyans, let's do our part to help not only meet but exceed these expectations. God bless Kenya!
1,481 - 1,500 of 1,590 Posts
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This should be the way to go. Remove all taxes, import duty, tariffs, and use TVETS to train installers.
The power grid can double without government spending....
The BEST thing about Solar is that When the hydro Dams are low because of the Hot Sun, Solar will yield most power, offering a inverse correlation thus, stabilizing the power grid.
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857 Posts
I saw These relics and they reminded me how vain life, properties, power and corruption is. Build roads for people
Charles Taylors House
Samuel Does House
Mombutu's City
Kwame Nkuruma's House
What remains is the works done to enhance the marketplace, to educate, the ideals.
If you are in a position of power spend more time giving bursaries, bringing piped water to homes, build the common streets, support business enterprises, ease peoples pain...
As Christ said in Matthew 16:9 "Do not accumulate for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal."
Charles Taylors House
Samuel Does House
Mombutu's City
Kwame Nkuruma's House
What remains is the works done to enhance the marketplace, to educate, the ideals.
If you are in a position of power spend more time giving bursaries, bringing piped water to homes, build the common streets, support business enterprises, ease peoples pain...
As Christ said in Matthew 16:9 "Do not accumulate for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal."
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8,365 Posts
How does the above post corresponds to the title thread??
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857 Posts
It ties to the title because right now there are people in power planning to steal the money needed for the country to takeoff. They will steal money meant for roads, water to build mansions.
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1,549 Posts
Cautionary tale
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857 Posts
Too many sweet words from Mr Promise Ruto but this is what is being felt and seen on the ground.
- The nationwide power outage which the proposed solution is rationing,
- Airport roof damage that is becoming national dialogue
- Currency related debt payment loss of Ksh 100Billion,
- Mis-handling El-nino resulted to 160 deaths 590,000 displaced,
- Contractors crying with unpaid debts,
- Stalling of road constructions,
- Exorbitant taxes/ extortions in Airports
- Cost of living pressures,
- Unemployment.
- Delayed passports broken printing machines
- Delayed salaries
NAIROBI, Kenya, Dec 13 – More than 45,500 Kenyans are set to access new job opportunities after the World Bank (WB) approved the Kenya Jobs and Economic Transformation Project (KJET).
At least 6,800 of the new roles will be set aside for women.
KJET aims to increase private sector investments, access to markets, and sustainable finance to create and improve jobs.
With $150 million in financing, KJET will offer business development services aimed at strengthening viable value chains and connecting micro, small, and medium enterprises (MSMEs) to markets.
It will also offer investments in firms to improve production and capabilities.
“The project supports the achievement of the World Bank’s mission of ending extreme poverty on a livable planet,” said Keith Hansen, World Bank Country Director for Kenya, Rwanda, Somalia, and Uganda.
“It will focus on empowering the private sector, driving job creation, and catalyzing green investments by private investors in member countries,” he added.
WB also expects the private sector to participate in the blended Green Investment Fund, among others, which is expected to mobilize at least $27 million in private capital.
“KJET offers a comprehensive set of interventions that are expected to support business and investment enabling reforms in Kenya that will result in streamlined licensing processes; improved investment-related laws, regulations, and strategies; enhanced government capacity for investor outreach and government to business service delivery,” he said.
At least 6,800 of the new roles will be set aside for women.
KJET aims to increase private sector investments, access to markets, and sustainable finance to create and improve jobs.
With $150 million in financing, KJET will offer business development services aimed at strengthening viable value chains and connecting micro, small, and medium enterprises (MSMEs) to markets.
It will also offer investments in firms to improve production and capabilities.
“The project supports the achievement of the World Bank’s mission of ending extreme poverty on a livable planet,” said Keith Hansen, World Bank Country Director for Kenya, Rwanda, Somalia, and Uganda.
“It will focus on empowering the private sector, driving job creation, and catalyzing green investments by private investors in member countries,” he added.
WB also expects the private sector to participate in the blended Green Investment Fund, among others, which is expected to mobilize at least $27 million in private capital.
“KJET offers a comprehensive set of interventions that are expected to support business and investment enabling reforms in Kenya that will result in streamlined licensing processes; improved investment-related laws, regulations, and strategies; enhanced government capacity for investor outreach and government to business service delivery,” he said.
Proud that Kenya leads Africa in startup capital, securing an impressive $800 million (Ksh 124 billion) in 2023. Our strategic reforms have enhanced the business environment, positioning Kenya as the preferred choice for investors. This achievement reflects our commitment to fostering innovation and economic growth. The substantial funding is driving groundbreaking ideas, fueling technological advancements, and propelling job creation. Thanks to our innovative startup founders, Kenya is now a global innovation hub.
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857 Posts
New Idea;
Is it possible to introduce snow making in Mt Kenya and introduce skiing camps on top of the mountain
These are conditions of making snow (Kirinyaga/ Nyeri side)
Conditions for making snow (may need 32 degrees Fahrenheit) to retain snow
It would be a favorite getaway spot for the Kenya's Expats community who may not need to to go North to Europe or South for a winter experience.
This would be the only Skiing resort in the Equator. And can be done PPP.
Mt Kenya is not exploited as a tourist resource
Is it possible to introduce snow making in Mt Kenya and introduce skiing camps on top of the mountain
These are conditions of making snow (Kirinyaga/ Nyeri side)
Conditions for making snow (may need 32 degrees Fahrenheit) to retain snow
- A Cheap Gondola system to take people up and down the mountain.
- Hiking Trails
- Horseback riding
- Hotels/Lodges
- Fishing camps
- Observing nature conservation
- Camping sites
It would be a favorite getaway spot for the Kenya's Expats community who may not need to to go North to Europe or South for a winter experience.
This would be the only Skiing resort in the Equator. And can be done PPP.
Mt Kenya is not exploited as a tourist resource
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1,549 Posts
Watch how Switzerland conquered their peeks. There's so much more we can do with our mountains apart from mountain climbing!
You should also travel/see our rift valley mountains deep in Kerio Valley, Mount Elgon, Kapcherop, etc
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857 Posts
Instead of building Likoni Bridge why not build a raised train. Vehicles can go around Dongo Kundu...
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16,241 Posts
I disagree. Mombasa Gate Bridge is part of a road network connecting us to our southern neighbors and the north coast and will form a vital direct link to Mombasa island (CBD) which Dongo Kundu will never do. This will become more visible when Kwale county starts growing exponentially in the coming decades forming the bulk of the Mombasa metro region. The train itself would be more ideal following the Dongo Kundu bypass for multiple reasons.
1. No need to raise the train which means greater efficiency.
2. Connecting it to the Miritini SGR terminus making that station the main nodal MGR/SGR nexus point for the Mombasa railway system. The current commuter MGR extension to Miritini only makes this process easier by following Dongo Kundu bypass to the future SEZ.
3. Dongo Kundu SEZ industries will eventually need rail connections to transport goods to the hinterland as well as raw materials.
Kenya’s Overall Debt Down By Sh722bn As Credit Servicing Also Falls By Sh195bn
NAIROBI, Kenya, Feb 21 – Kenya’s overall debt has declined by Sh722 billion, President William Ruto has confirmed, coming just a few days after the government successfully raised $1.5 billion to repay a previous Eurobond that was to mature on June 24, 2024.
The Head of State also announced that the debt service cost had declined by Sh195 billion.
As of December last year, Kenya’s debt stood at about Sh11.14 trillion, highlighting the growing dependence of the state on debt to fund projects.
President Ruto linked the improvement to strategies his administration has adopted for the economy since assuming power in 2022.
“We have pursued a turnaround strategy focused on increasing our tax revenue and reducing both spending and the rates of debt accumulation,” the president said during the conclusion of a three-day Cabinet retreat at Naivasha.
“Through this process we have been guided by the principles of equity, fairness and prudence in public spending without sacrificing priority, social and development spending,” the President added.
He maintained that the government is keen on ensuring sound debt management through the implementation of an array of strategies, which included the diversification of financing sources anchored on smoothening the maturity profiles of the country’s debts.
This, President Ruto indicated, has steered the country away from debt distress and stabilized the economy.
Last week, he stated that the sale of the country’s Eurobond is proof that the country can now settle its debts.
“We have put in place robust measures to ensure that Kenya never again gets into serious debt challenges. We will plan our affairs well,” he said.
NAIROBI, Kenya, Feb 21 – Kenya’s overall debt has declined by Sh722 billion, President William Ruto has confirmed, coming just a few days after the government successfully raised $1.5 billion to repay a previous Eurobond that was to mature on June 24, 2024.
The Head of State also announced that the debt service cost had declined by Sh195 billion.
As of December last year, Kenya’s debt stood at about Sh11.14 trillion, highlighting the growing dependence of the state on debt to fund projects.
President Ruto linked the improvement to strategies his administration has adopted for the economy since assuming power in 2022.
“We have pursued a turnaround strategy focused on increasing our tax revenue and reducing both spending and the rates of debt accumulation,” the president said during the conclusion of a three-day Cabinet retreat at Naivasha.
“Through this process we have been guided by the principles of equity, fairness and prudence in public spending without sacrificing priority, social and development spending,” the President added.
He maintained that the government is keen on ensuring sound debt management through the implementation of an array of strategies, which included the diversification of financing sources anchored on smoothening the maturity profiles of the country’s debts.
This, President Ruto indicated, has steered the country away from debt distress and stabilized the economy.
Last week, he stated that the sale of the country’s Eurobond is proof that the country can now settle its debts.
“We have put in place robust measures to ensure that Kenya never again gets into serious debt challenges. We will plan our affairs well,” he said.
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857 Posts
More of this
Recycle $2 billion debt cut overall country debt by $5.4 Billion that is what we call leverage. Kudo's
www.businessdailyafrica.com
Recycle $2 billion debt cut overall country debt by $5.4 Billion that is what we call leverage. Kudo's
Shilling rallies to 8-month high, cuts debt by Sh800bn
The Kenya shilling has rebounded to an eight-month high.
www.businessdailyafrica.com
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857 Posts
KeNHA revives contentious Sh30bn Mau Mau road plan
KeNHA tendered for the project last year but cancelled the work a month after President William Ruto took office.
nation.africa
When I saw 540Km for cost of ksh30 Billion I asked myself why haven't we paved the whole country.
SGR Expansion from Naivasha to Malaba will cost us Ksh 2,100 billion this is equivalent to 37, 800 Km or rural roads.
Instead of Extending building that train to Malaba why not use the same amount of money to Pave all roads in Kenya and probably expand piped water.
Each of the 8 provinces can get 4,700 Kilometers of 55m per KM roads. Bring back those Chinese contractors unless others can bid for less and actually deliver the projects within the required timelines.
There is no country that has ever industrialized without heavy gauge rail be it USA, Europe, China, Japan, South Korea, Soviet Union(Russia) or anywhere. You can’t compare the load bearing, efficiency, long term cost competitiveness, volume capacity of heavy rail and benefits for heavy industries and mechanized large scale agriculture/agroprocessing of rail vs fragile 2 lane roads. Add the ridiculous maintainance costs for roads and they can’t be used for heavy industry.KeNHA revives contentious Sh30bn Mau Mau road plan
KeNHA tendered for the project last year but cancelled the work a month after President William Ruto took office.
When I saw 540Km for cost of ksh30 Billion I asked myself why haven't we paved the whole country.
SGR Expansion from Naivasha to Malaba will cost us Ksh 2,100 billion this is equivalent to 37, 800 Km or rural roads.
Instead of Extending building that train to Malaba why not use the same amount of money to Pave all roads in Kenya and probably expand piped water.
Each of the 8 provinces can get 4,700 Kilometers of 55m per KM roads. Bring back those Chinese contractors unless others can bid for less and actually deliver the projects within the required timelines.
Outside power and governance since independence there is a reason why we didn’t have heavy industries 60 years after independence like machine building, vehicle manufacturing (not light assembly), aircraft and heavy steel and chemical industries and thats heavy industrial rail. Our only heavy industry iron ore steel plant (Devkis 40bn coast raw steel plant) has a direct rail link to transport billets and not roads for this reason.
Simply put, the Mombasa, Nairobi metro, Naivasha, Kisumu, Malaba corridor where 80%+ of the population lives will never industrialize without heavy gauge industrial rail.
That China class I heavy gauge rail is the single wisest policy decision we have ever made since independence for our long term industrial and development goals.
We should invest in roads in Northern Kenya for socioeconomic benefits but not one at the cost of the other.
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857 Posts
The roads have a higher economic multiplier. The link between (Naivasha to Malaba) which already has an MGR. benefits would be compared with 4,700 Kilometers in Nyanza, 4,700 Kilometers in Western, 4,700 Kilometers rift valley or 14 100km roads connecting one village with another.
North Eastern would also get its 4,700 kilometers, Eastern 4,700 kilometers Meru-Kitui, makueni, 4,700 Kilometers in Eastern, 4,700 Kilometers Coast from Lamu to Vanga, 4,700 Kilometers in Nairobi, kwa mitaa, Central would finish 500 km Mau Mau and pave another 4,000.
From Mombasa to Nairobi is only 440km, I mean building these type of roads in each county...
After stimulating the economy with these roads. Jobs created, wealth created then, we can build the rail to Malaba.
But the rail cannot stimulate any more growth than we have today.
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Why do you say rail cannot stimulate more growth than we have today? That doesn't sound factual.
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4,536 Posts
As for which mode of transport will have a higher multiplier effect, that will depend on many factors. For example a country with many heavy industries like Japan, China or Germany would benefit from having extensive rail network to help transport their manufactured products e.g cars. Also countries with a big mining industry e.g Chile and Australia will benefit a lot from having a good rail network due to the efficiency of rail system in transporting heavy goods.
Countries that are not heavily industrialised like Kenya may not benefit so much right now from rail system. For Kenya road transport is quite important for our low level of development because we don't yet manufacture heavy goods that require rail transport e.q cars or minerals. But I understand and even agree with Bigbird's point that the SGR and even MGR will help us industrialize. The presence of rail can encourage investors to set up heavy industries in Kenya. Building SGR may turn out to be a wise move.
Countries that are not heavily industrialised like Kenya may not benefit so much right now from rail system. For Kenya road transport is quite important for our low level of development because we don't yet manufacture heavy goods that require rail transport e.q cars or minerals. But I understand and even agree with Bigbird's point that the SGR and even MGR will help us industrialize. The presence of rail can encourage investors to set up heavy industries in Kenya. Building SGR may turn out to be a wise move.
Kenya allows electronic IPOs to boost efficiency and confidence
SUNDAY MARCH 24 2024
![nse-floor]( "nse-floor")
The Nairobi Securities Exchange (NSE) trading screen. PHOTO | DIANA NGILA | NMG
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![General Image]( "General Image")
By JAMES ANYANZWA
More by this Author
Kenya’s Capital Markets Authority has opened a window for new firms to list on the Nairobi Securities Exchange through an electronic process to reduce time and cost of initial public offerings (IPOs).
This is part of reforms that the markets regulator and other stakeholders are implementing to inject fresh interest in the bourse, which attracted a quick succession of listings during President Mwai Kibaki’s administration.
CMA through legal notice tightened the rules for electronic IPOs to ensure fair and equitable allocation of shares to investors and prevent recurrence of trading malpractices.
NSE Vice-Chairman Paul Mwai said the use of electronic processes in IPOs will hasten transactions, reduce costs and eliminate challenges related to refunds.
Read: Uphill task awaiting new EA bourse bosses
“Electronic IPOs are more efficient. You know the IPO process is quite cumbersome — that is the reconciliation process and the refunds process and all those kinds of things. If this process can be automated, it becomes quite quicker and cleaner. It is very welcome.
Related
It also gives you an opportunity, in some cases, what they do is you can actually do a first come, first served basis and help to eliminate the issues of refunds,” Mr Mwai said.
“But the problem is that not all Kenyan investors are tech-savvy, but they can be assisted in terms of the brokers and the agents can help them to put the electronic applications.”
Electronic IPOs give firms the opportunity to trade through the Internet or in other electronic or automated means or media, wholly or partially, where investors subscribe to the offer of securities by submitting applications electronically or the applications and allotments are processed and completed electronically.
Last year, Uganda became the first country in the East African region to conduct an electronic IPO through the offer of Airtel Uganda shares to the public.
This made it easier for foreign investors, including residents of other East African countries, to participate in the transaction.
In 2008, Kenya’s CMA allowed partial use of electronic means in the Safaricom IPO — only in the application process.
Through a gazette notice, CMA said firms seeking to offer shares in an electronic format will be required to ensure that the information memorandum is disclosed in the same form and content approved by the regulator.
Read: Regulator dangles electronic IPOs at Nairobi bourse
The results of the electronic offer will also be published in the same manner as the information memorandum.
“An issuer of securities shall establish and disclose in the information memorandum a fair and equitable allocation policy for the allocation of the securities in a public offer,” CMA said.
“An issuer of securities shall establish mechanisms for sensitisation of investors to invest in the issue of the issuer’s securities.” Issuers will also be required to notify the CMA and, where there is a listing, the NSE at least 24 hours before the publication of the result of the offer.
Beyond IPOs, automated processes have recently been applied in major transactions as companies and investors take advantage of technology to increase convenience and cut costs.
Investors, for instance, last year had the option of tendering their shares electronically to ICEA Lion Asset Management Ltd when it acquired 36.58 million shares of property fund Ilam Fahari I-Reit.
The property fund was recently delisted from the NSE’s Main Investment Market following the transaction.
Investors in East African Breweries Plc also had a similar option when they were selling 118.3 million shares in the brewer to Diageo Plc last year.
SUNDAY MARCH 24 2024
The Nairobi Securities Exchange (NSE) trading screen. PHOTO | DIANA NGILA | NMG
ADVERTISEMENT
By JAMES ANYANZWA
More by this Author
Kenya’s Capital Markets Authority has opened a window for new firms to list on the Nairobi Securities Exchange through an electronic process to reduce time and cost of initial public offerings (IPOs).
This is part of reforms that the markets regulator and other stakeholders are implementing to inject fresh interest in the bourse, which attracted a quick succession of listings during President Mwai Kibaki’s administration.
CMA through legal notice tightened the rules for electronic IPOs to ensure fair and equitable allocation of shares to investors and prevent recurrence of trading malpractices.
NSE Vice-Chairman Paul Mwai said the use of electronic processes in IPOs will hasten transactions, reduce costs and eliminate challenges related to refunds.
Read: Uphill task awaiting new EA bourse bosses
“Electronic IPOs are more efficient. You know the IPO process is quite cumbersome — that is the reconciliation process and the refunds process and all those kinds of things. If this process can be automated, it becomes quite quicker and cleaner. It is very welcome.
Related
EA bourses to remain in bear run for a while
Kenya CMA endorses recovery board for ailing firms listed on bourse
It also gives you an opportunity, in some cases, what they do is you can actually do a first come, first served basis and help to eliminate the issues of refunds,” Mr Mwai said.
“But the problem is that not all Kenyan investors are tech-savvy, but they can be assisted in terms of the brokers and the agents can help them to put the electronic applications.”
Electronic IPOs give firms the opportunity to trade through the Internet or in other electronic or automated means or media, wholly or partially, where investors subscribe to the offer of securities by submitting applications electronically or the applications and allotments are processed and completed electronically.
Last year, Uganda became the first country in the East African region to conduct an electronic IPO through the offer of Airtel Uganda shares to the public.
This made it easier for foreign investors, including residents of other East African countries, to participate in the transaction.
In 2008, Kenya’s CMA allowed partial use of electronic means in the Safaricom IPO — only in the application process.
Through a gazette notice, CMA said firms seeking to offer shares in an electronic format will be required to ensure that the information memorandum is disclosed in the same form and content approved by the regulator.
Read: Regulator dangles electronic IPOs at Nairobi bourse
The results of the electronic offer will also be published in the same manner as the information memorandum.
“An issuer of securities shall establish and disclose in the information memorandum a fair and equitable allocation policy for the allocation of the securities in a public offer,” CMA said.
“An issuer of securities shall establish mechanisms for sensitisation of investors to invest in the issue of the issuer’s securities.” Issuers will also be required to notify the CMA and, where there is a listing, the NSE at least 24 hours before the publication of the result of the offer.
Beyond IPOs, automated processes have recently been applied in major transactions as companies and investors take advantage of technology to increase convenience and cut costs.
Investors, for instance, last year had the option of tendering their shares electronically to ICEA Lion Asset Management Ltd when it acquired 36.58 million shares of property fund Ilam Fahari I-Reit.
The property fund was recently delisted from the NSE’s Main Investment Market following the transaction.
Investors in East African Breweries Plc also had a similar option when they were selling 118.3 million shares in the brewer to Diageo Plc last year.
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