Home Author
Author

Daily Trends

Business

BangBet Kenya: The Ultimate Online Gaming and Betting Destination in Kenya

by Daily Trends
written by Daily Trends

Online gaming and betting have taken the world by storm, and Kenya is not an exception.

The country has seen a surge in the number of online gaming and betting platforms that cater to all types of players.

Among these websites, BangBet Kenya stands out as one of the best online gaming and betting destinations in Kenya.

This website has been gaining popularity in the online gaming and betting industry, with many players considering it the ultimate gaming and betting platform in Kenya.

Launched in 2019, BangBet Kenya has quickly gained a reputation for its user-friendly interface, extensive game selection, generous bonuses, and excellent customer support.

The website is licensed and regulated by the Betting Control and Licensing Board (BCLB), which ensures that all its operations are fair, transparent, and secure.

The website caters to all types of players, from beginners to experienced players, and offers a variety of games and betting options.

One of the key factors that make BangBet Kenya the ultimate online gaming and betting destination in Kenya is its extensive game selection.

The website offers a wide range of games that cater to all types of players, including sports betting, virtual sports, casino games, and live dealer games.

The sportsbook section of the website offers betting options for a variety of sports, including football, basketball, tennis, rugby, and cricket.

The virtual sports section offers betting options for virtual football, horse racing, greyhound racing, and more.

The casino section of the website is packed with a wide range of games, including slots, table games, and live dealer games.

The slots section offers a wide variety of games, from classic slots to video slots, with different themes and features.

The table games section offers games such as roulette, blackjack, baccarat, and poker.

The live dealer games section offers games such as live roulette, live blackjack, and live baccarat, giving players a real-life casino experience.Another key factor that makes BangBet Kenya the ultimate online gaming and betting destination in Kenya is its commitment to responsible gambling.

The website offers tools and resources to help players gamble responsibly, such as self-exclusion, deposit limits, and reality checks.

One unique selling point (USP) of BangBet Kenya is its mobile app. The app is available for both Android and iOS devices and offers a seamless gaming experience on the go.

The app is easy to use, fast, and offers all the features and games available on the website. The app also offers exclusive bonuses and promotions for mobile users.

BangBet Kenya is also known for its excellent customer support.

The website has a comprehensive FAQ section that answers most common questions. If players have any further questions or issues, they can contact the customer support team via live chat or email.

The customer support team is available 24/7 and is responsive and helpful.

The website also offers a variety of bonuses and promotions for players. New players can enjoy a welcome bonus when they sign up and make their first deposit.

The website also offers reload bonuses, cashback offers, and free spins promotions for existing players. The website also has a loyalty program that rewards players for their loyalty.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Business

Introducing The Next Big Thing: Infinix Hot 30 To Be Launched In Kenya On April 7

by Daily Trends
written by Daily Trends

The Latest Smartphone from the Infinix HOT Series! Get ready to experience the cutting-edge technology and innovative features of the HOT Series newest smartphone.

With its sleek design and powerful performance, this device is set to revolutionize the world of mobile technology.

Equipped with the latest hardware and software, this smartphone boasts a high-speed processor and advanced camera system that will capture every moment with crystal clear detail.

Whether you’re an avid photographer, a social media influencer, or simply someone who loves to stay connected on the go, this device has everything you need. But that’s not all! The HOT’s Series newest smartphone also comes with a range of exciting features designed to enhance your user experience.

From a sleek and intuitive interface to an advanced security system, this device has it all. And with Infinix’s commitment to youth empowerment, it was only right to invite students from Universities all over the country to share an innovative experience.

Infinix kicked off on high gear since they launched the #MuHOAT Dance challenge, with top 3 finalists standing a chance to win a cash prize at the launch on ,7th April.

The launch will feature performances by the faves amongst Genzers mostly with brand’s commitment to promoting talent and creativity as young as possible. Infinix has in addition partnered with like minded brands like Fanta and Blaze by Safaricom.

So get ready to experience the future of mobile technology. Stay tuned for the official launch of the Infinix HOT 30 and be the first to get your hands on the hottest device of the year!

For more details visit: http://www.infinixmobility.com/

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Politics

Tourism Ministry to Halt Construction of The Multi-Billion Ronald Ngala Utalii college

by Daily Trends
written by Daily Trends

A parliamentary committee has ordered the Ministry of and wildlife to stop the completion and construction of the multi-billion Ronald Ngala Utalii college until a probe it has initiated is finalized.

The National Assembly Departmental committee on Tourism and Wildlife wants the National Treasury to provide a clear roadmap on how it will finance the project as well as clear the pending bills which include penalties arising from delayed payment and lack of funding on time.

The first phase of the project, funded by the State through the Tourism Fund, includes administration and tuition blocks, hostels, staff quarters, and a dining hall.

The Tourism Fund is seeking 3.3 billion shillings to complete the construction of the facility which includes clearing pending works of sh. 1.2 billion, operation of the project (furniture sh. 215 million shillings and Services sh. 433 million shillings) and pending bill of sh. 1.5 billion shillings.

The project whichstarted as a Vision 2030 project was earmarked to be completed in 2018 at 4.9 billion shillings but is now scheduled to consume up to 11 billion shillings once completed, as of February 2023 and is 77.74 percent complete.

Addressing a press conference on Monday after touring the facility accompanied by Tourism Principal Secretary John Ololtuaa and officials of Tourism Fund, Maara MP Kareke Mbiuki, who chairs the committee, said the national government must make up its mind on whether the project, remains stalled and continues to accrue interest and penalties, or money is allocated to complete the project.

Mbiuki directed the ministry not to allocate any monies for purposes of its completion or settling pending bills as well as penalties, until such a time the committee is seized with the matter, makes a report to be tabled in parliament proposing a funding formula, and a report on the implementation of the project.

“So, for the time being, don’t dare appropriate or allocate any amount to this project, not until, we have a serious discussion with President William Ruto’s administration to agree on a way forward. Let pending bills stay as they are but don’t touch even a coin within the sector, but the other campaigns within the tourism sector can proceed as scheduled, but as Ronald Ngala Utalii college, allow us almost two weeks or one month as we work on the rescue program,” he said, adding that his committee will also be in serious consultation with the ministry.

The Maara legislator lamented that it was unfair for the National Treasury not to finance the institution, which will complement the Kenya Utalii College in Nairobi, offer maritime courses as well as contribute to the promotion of tourism.

“We don’t want the project to be left to the Tourism Fund and Tourism Promotion Fund because they cannot raise the monies owned to the contractor, consultants, and charges as well penalties that have already been accrued due to defaulting by the state,” he held.

According to Mbiuki, the ministry of tourism and its state agencies cannot be left to finance the remainder because they have other obligations to meet like allocating resources to Kenyatta International Conference Centre (KICC), Kenyatta Utalii College among others.

He said his committee will be engaging the National Treasury to ensure that the project is allocated monies for its completion.

“We want the National Treasury to come and commit to allocating funds to this project because in the supplementary budget, there was zero allocation and in the Budget Policy Statement, the allocation is still nil, once monies are allocated it will supplement what you (ministry) have already assigned to the project,” he held.

Tourism Principal Secretary John Ololtuaa disagreed with the committee decision asking it reconsider its decision to stall the project as money has already been put into it saying the only solution is to complete it.

“I think the objective should be one. How it should be completed as well as thinking ways of raising money for the project especially if there is a way stakeholders can all together reach out to the National Treasury to also either put it as an emergency to finish the project once and for all,” said Ololtuaa.

While agreeing on the project to be stalled, Nominated MP Abubakar Talib Ahmed, who is a member of the committee said there ought to be serious interrogation by the committee as the project had all characteristics of a white elephant.
“This is a white elephant. The committee should have a serious consultation interrogation of the project, as you advised Kenya Tourism Board and Tourism Fund not to put a single shilling into the project until we get to the bottom of it,” said Abubakar.

Other committee members include Wanjiku John Njuguna (Kiambaa), Kilel Richard (Bomet East), Ruku Geoffrey Kiringa (Mbeere South), Chebor Paul Kibet (Rongai), Shake Mbogho Peter (Voi), Mugabe Innocent Maino (Likuyani), Abdi Khamis Chome (Voi), Obo Ruweida Mohamed (Lamu East), and Bedzimba Rashid Juma (Kisauni).

The committee is on a five-day coast region inspection visit to flagship projects with the Ministry of Wildlife, Tourism, and Heritage, its departments, and agencies under its purview.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Education

REVEALED: How “Corrupt” Simon Gicharu’s Political Power Has Spearheaded Growth of MKU

by Daily Trends
written by Daily Trends

Mount Kenya University (MKU) has prided itself as one of the fastest growing institutions of its kind in the 2000s.

Over the period of its existence many cases have emerged, some going all the way to the court, with accusations of the founder of the university for poor land handling and in some cases, obvious land fraud allegations.

But frequent invitations to the mention of the name of its founder Simon Gicharu allows one to interrogate the nature and type of the explosive rise of the university.

Gicharu, a close ally to the Kenya state operatives has been a great beneficiary of State appointments, serving in leading parastatals in the country including the multi-billion shilling Geothermal Development Corporation, a clear reward for his reward towards former President Uhuru regime since 2013.

At the same time, the Ministry of Education capitation for private universities saw thousands of students get State capitation with MKU among the biggest beneficiaries of the programme.

“We are working on the figures and monies that MKU received and soon, we shall make it public. The figures are high and I can assure you that some of you will be shocked,” says a member of the National Assembly Education Committee.

On the other hand, the country’s legal fraternity is still apprehensive of the university’s School of Law at the speed it acquired the charter to offer Law ahead of some of the established public universities.

“MKU has a few things to reply to in this country. The millions they received and the nature of the scandals they have weathered in the recent past has many people thinking about the operations. We cannot rule out the closeness to power that the owner enjoys in many places in our country. All that will be known when the matter is put to discussion,” the MP in the Education Committee says.

Investigations by the Ethics and Anti-Corruption Commission (EACC) looking into the allegations of fraud in an inflated Sh1.2 billion campus purchase deal between MMUST and Mount Kenya University (MKU) has been set rolling.

The commission had commenced investigations into the matter following a complaint that MMUST had purchased the MKU Turkana Campus at an exorbitant price of Sh1.2 billion yet the property was valued at Sh600 million.

Investigations established that the acquisition was initiated through a letter dated March 17, 2016, by the Deputy Vice Chancellor of MMUST, Planning, Research and Innovation to the Cabinet Secretary of Education Science and Technology.

Investigations by the EACC established by the Commission of University of Education (CUE) approved the acquisition stating that it had already accredited the campus. The MMUST University Council also deliberated and approved the acquisition on June 17, 2017.

On July 28, 2022, a report was compiled by the EACC team and forwarded to the Director of Public Prosecution (DPP) with a recommendation for closure of the inquiry file. The report further held that the VC (Prof Otieno) who would have been culpable for failing to adhere to the procurement law and regulations is deceased.

Prof Otieno left office on December 1, 2018, amid a barrage of audit queries. He died in 2019.

Step Up Holdings

Similarly, in its expansion strategy, MKU in a deal sewed up by Simon Gicharu has been embroiled in a land tussle with a firm Step Up Holdings that according to court documents, claim they were shortchanged.

Apparently, MKU through Gicharu, allegedly entered into an agreement with Step Up in 2011 to set up a Nakuru campus mini wing in Kericho town but the owner didn’t measure up leading to a court battle in a supposed Sh511M botched deal between the two entities. Step Up ran the operations of the Nakuru Campus before the clash. This was a gentleman’s deal between the two entrepreneurs meaning it was all verbal.

Step Up Holdings avers that a month after their verbal agreement, the university forced the firm to close the Kericho Campus leading to a loss of Sh953,881.

The firm claims the university then “illegally took over” the campus by relocating 3,807 students and 295 staff to other premises. The court sided with Step Up Holdings and found the university liable for Sh511 million.

In 2012, the Court of Appeal in Nakuru dismissed appeal attempt by MKU dismissing the appellants’ application for stay of proceedings pending Arbitration.

“The background to the appeal is that, both the appellant and the respondent entered into a memorandum of understanding (MOU) containing an arbitration clause,” Court records show.

However, Nakuru High Court judge Justice Hillary Chemitei allowed the university to file defence Sh511million dispute.

“The interlocutory judgement entered against the applicant or defendant on November 17, 2011, is hereby set aside,” ruled Justice Hilary Chemitei.

“The applicant shall within 30 days from the date herein deposit Sh511million in a joint interest-earning account in the names of both counsel for the applicant and the defendant pending the hearing and determination of the suit,” stated Justice Chetimei.

The court also ordered Step Up Holdings to provide a Sh511million bank guarantee from a reputable firm within 30 days pending the hearing of the case.

Provisions of the MoU cited by the university in its flopped attempt to push for arbitration were dismissed by the Court of Appeal.

Mount Kenya University has found itself once again on the receiving end after entering into a scandalous land deal with an alleged fraudulent businessman leading up to a court battle.

In what was thought to be a smooth deal to acquire a piece of land in Nairobi’s Industrial Area, the institution’s owner Simon Gicharu has once again fallen prey.

The institution dragged a controversial British national Vallabh Haribhai Bakrania to court for allegedly defrauding them of Sh20 million.

Bakrania is accused of obtaining the money by pretending he was in a position to sell to the university a piece of land located in Industrial Area, Nairobi.

Bakrania allegedly committed the offence on 27th November 2020 in Nairobi, with intent to defraud Mount Kenya University.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Business

Long Con: How Mandago Administration Colluded With KCB, Agents To Fleece Uasin Gishu Parents In A Scholarship Scam

by Daily Trends
written by Daily Trends

In May 2021, the Uasin Gishu County Government partnered with Tampere University, Finland, in a programme that would see students from the devolved unit airlifted to live, study and work in the foreign country.

It was a dream come true for many, given the yearning of young Kenyans to join universities overseas.

Many, especially those from humble backgrounds, had enthusiastically applied for the opportunity, hoping it would save them from the tedious immigration processes that come with obtaining travel documents.

The first batch of learners left the country in September 2021, three months after the deal was signed – the 51 students were to pursue medicine and other science-related courses: 25 were going to pursue degree courses and 26 were to pursue diplomas.

The icing on the cake was that the successful applicants in the programme were guaranteed employment in Finland upon completion of their courses.

Because of this, many families took a chance, organising fundraisers to raise the fees to enable their sons and daughters to pursue the dream that would alleviate them from their challenging backgrounds. 

The county government went ahead to open an account – the Uasin Gishu County Government Overseas Trust Fund – at KCB Bank to collect the tuition fees the students were required to pay.

Under the deal, the devolved unit was to act as a guarantor for the students in their respective universities in payment of their tuition fees.

The county government agreed to collect money from the parents and remit it as a lump sum, thus there was no agreement between parents and the universities to pay the tuition fees directly to the institution.

On September 14, 2021, former Governor Jackson Mandago (now the county senator) flagged off the first batch of 51 students to travel to Finland to study in a partnership that sought to produce qualified health personnel for the international labour market, while at the same time addressing youth unemployment.

Some of the parents are demanding a refund of their money terming the entire arrangement a scam.

The complaints prompted the formation of an ad hoc committee to establish the legal framework on which the Finland scholarship programme was anchored. The team is looking into whether there is a memorandum of understanding between the county government and the targeted Finland universities. 
The committee was informed that 202 students are in Finland under the programme, which was to be implemented at Tampere, Jyvaskala and LUT universities, among others. According to the county education department, Max-global acted as the agent in the recruitment of students and the county stood in for the bank statements for the students.

Committee Findings

The ad-hoc committee has recommended disciplinary action against officials implicated in the scam. It has further recommended a refund of money paid as fees by parents under the much-hyped Uasin Gishu students airlift programme.

The committee found out that senior County officials colluded with Kenya Commercial Bank (KCB) and agents to fleece parents of millions in a Finnish scholarship scandal that saw learners airlifted and dumped in Europe.

Following its investigation, the team, whose report was endorsed by the county assembly for consideration, now wants the Ethics and Anti-Corruption Commission (EACC), the Directorate of Criminal Investigations (DCI), and other relevant agencies to move in and investigate the implicated senior county officials for forgery, abuse of office and integrity.

The committee led by Mr Gilbert Chepkonga has endorsed the recovery of the stolen money to support some of the students who are said to be stranded in Finnish universities.
According to the report, the Uasin Gishu County Government, under the stewardship of former Governor Jackson Mandago, now the Uasin Gishu Senator, opened the ‘Uasin Gishu County Government Overseas Trust Fund’ account in Kenya Commercial Bank (KCB) for purposes of receiving tuition fees for the students benefiting from the scholarship programme.
Protesting parents led by Mr Reuben Chepses Koech told the committee those who applied for the opportunity were required to pay an interview fee of Sh6,500, but were not issued with receipts for the payment.

The students were then required to pay 8,650 euros — equivalent to Sh1.19 million in school fees, Sh80,000 accommodation fee for three months, Sh30,000 insurance fee, Sh49,000 for a visa, Sh5,000 for Covid test and 100,000 for their flights.

The eligible candidates were issued with acceptance letters from their respective universities, while the County Government of Uasin Gishu issued them with a certificate of full scholarship.

On September 14, 2021, Mr Mandago flagged off the first batch of 51 students to travel to Tampere to study in various fields, in the partnership that sought to produce qualified health personnel for the international labour market, while at the same time addressing youth unemployment.

However, according to the report by the committee, the implementation of the programme was a highly guarded secret that even then-county head of Education Joseph Kurgat was kept in the dark, despite it being under his docket.
Mr Kurgat told the committee that the programme was not discussed at the county Cabinet level and no policy framework was tabled for Cabinet approval.

Case with KCB

While accusing KCB officials of being part of the bigger plot, the committee is demanding a forensic financial audit of the Uasin Gishu Education Overseas Trust Account at the KCB Eldoret East branch, and that county employees mentioned as beneficiaries of the transactions from the account be suspended pending investigations.

According to bank statements tabled before the committee, several individuals, including senior county officials are among the irregular beneficiaries of funds meant for the students.

“The County Executive to engage the services of an independent and reputable external forensic auditor to audit the account and report back to the county assembly within 30 days.

The forensic auditor’s term of reference shall be to analyse the financial data to look for evidence of the crime,” said the report.

The committee further wants KCB to investigate and take necessary action against its staff for professional negligence, by allowing the Uasin Gishu Overseas Education Trust Account to be opened without conducting due diligence.

The report reveals that some trustees heavily benefited financially from withdrawals from the account, although they were not entitled to a monetary benefit.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Business

Stephen A. Newton joins Ad Dynamo by Aleph as Managing Director for Africa 

by Daily Trends
written by Daily Trends

Ad Dynamo by Aleph has appointed Stephen A. Newton as its managing director for Africa. Newton will prioritise pan-African expansion and assisting Ad Dynamo by Aleph’s  partners in overcoming the challenges of doing business across the continent.

Ad Dynamo by Aleph is Spotify, Twitter, Snap, and  Yahoo’s  exclusive media buying extension in Africa. As an enabler of digital advertising in emerging markets, the organisation is helping to break down barriers. 

“As both  a developing market and a continent with a rapidly growing population, Africa is poised to house not only a sizeable portion of the world’s population but also a sizeable portion of the world’s eligible workforce,” says Newton. “I am excited to play a part in implementing Aleph’s goal of breaking barriers.” 

“At Ad Dynamo by Aleph, we plan to continue to grow in anticipation of our partners’ needs and solidify our position as a preferred partner,” he adds. “We will build where they need us using tried and trusted methodologies, and we will continue to collaborate to create platforms that reduce the friction associated with doing business in these markets.”

Newton, an entrepreneur at heart, has more than 25 years of experience leading EMEA businesses across the digital space. He is currently on a number of advisory boards for startups and mid-sized African companies that work in different parts of the online space. He is also the chairman and co-founder of The Illuminate Africa Group Ltd., a consulting firm that helps companies achieve their African expansion goals.

Newton has worked as managing director of Google South Africa, vice president and managing director of the Ad Exchange for Google-bought DoubleClick EMEA, managing director of Africa for PostivoBGH, chief executive officer of Date.ce, and interim chief operating officer of Universal Music Group Africa.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Business

How Tech Can Help Stimulate Micro Economies

by Daily Trends
written by Daily Trends

By Veerakumar Natarajan, Country Head, Zoho Kenya

Technological progression plays a crucial role in fostering economic growth. A lack of access to technology can hinder local economies, particularly in developing countries such as Kenya and other African nations.

Access to technology can be a game changer for businesses in less urban areas, providing a range of benefits that can help them thrive and expand. For instance, by leveraging tools that automate tasks and utilizing e-commerce platforms, businesses can tap into new markets and streamline operations. Additionally, technology that facilitates the gathering and analysis of data can be particularly valuable, as it allows businesses to gain valuable insights into their own performance and the broader market.

Armed with this information, they can make informed decisions that improve processes, enhance the customer experience, and optimize growth. By leveraging technology in this way, businesses can boost their competitiveness and increase their chances of success, even in a rapidly changing environment. The integration of technology at the micro-economic level can mitigate inequality and foster wealth creation in economically challenged areas, ultimately contributing to overall macroeconomic development and greater stability and long-term growth for both individual businesses and the communities they serve.

Growing small businesses

The most obvious area where technology can have a significant micro-economic impact is among small businesses. This is especially important in markets like Kenya, where statistics from the Kenya National Bureau of Statistics (KNBS) show that the SME sector employs at least 86% of the Kenyan population and contributes about 45.5% to the country’s gross domestic product.

These SMEs not only create employment opportunities, but also play a crucial role in developing the communities in which they operate. They provide a platform for local talent to showcase their skills and can act as catalysts for attracting other businesses to the region, fostering a supportive ecosystem for economic growth.

To make their work easier, SMEs can use technology to their advantage. For example, SMEs can automate time-consuming tasks like inventory management. Similarly, e-commerce tools can significantly expand the reach of SMEs, particularly in remote areas. By leveraging real-time business intelligence, small business owners are able to free up valuable time to focus on their core competencies and drive business growth.

Zoho prioritizes serving underrepresented segments, specifically small businesses in regions that are frequently overlooked. The company places a strong emphasis on providing affordable and accessible technology solutions to meet the needs of these businesses.

Fostering entrepreneurship through low code

With low-code and no-code tools, entrepreneurs do not need to rely on expensive developer resources to build the applications they need. Low-code platforms offer a graphic development environment that allows entrepreneurs to build and test their applications, using snippets of pre-written code, allowing for a far quicker development process.

Additionally, because low-code platforms eliminate some of the more complex parts of the application development process (such as creating frameworks and linking databases), it becomes easier and faster for entrepreneurs to take their solution to market.

Empowering communities

With internet connectivity, a startup can function from anywhere. By opening their offices in small towns or rural areas, they can reduce their operational costs significantly, gaining a longer runway to operate. When companies hire local talent, they are empowering individuals to contribute to their communities and address local issues more effectively instead of them needing to seek employment elsewhere. The retention of highly skilled and talented youth within the community can lead to innovative solutions and drive empowerment for local populations.

Micro matters

From afar, the positive shifts technology brings to individual businesses, entrepreneurs, and community organizations may appear small, but they can have cumulative effects. With enough momentum, these effects can ripple from the community to the municipal, provincial, and even national levels.

Therefore, while it is important to evaluate national macroeconomic policies critically, the influence that technology can have at the micro-economic level should not be overlooked or undervalued.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Business

AAK Unveils New Brand Identity Aimed At Delivering Better Farming, Better Food & Better Health

by Daily Trends
written by Daily Trends

The Agrochemicals Association of Kenya (AAK)/ CropLife Kenya unveiled a new brand identity today that more strongly reflects the ongoing transformation on its strategy towards delivering “Better Farming, Better Food, Better Health” to its stakeholders.

In the wake of changing global food and health needs, AAK will continue focusing on ensuring “human well-being through food, nutrition and health, and the sustainable use of our ecosystems.”

At the heart of this rebranding is a new logo and identity that communicates and reaffirms AAK’s/CropLife Kenya’s positioning and philosophy of sustainable high-quality food production and associated health benefits.

“Food and health needs have changed the world over, requiring us to reinforce our positioning in line with these changes and market expectations,” said Patrick Amuyunzu, the AAK Chairperson. “To this end, we are excited to inform you of the proposed sharpened positioning and benefits of AAK as seen through the eyes of our stakeholders.”

Speaking during the unveiling of the new brand identity during a breakfast meeting held in Nairobi, Mr. Amuyunzu said that as the leader in pest management, AAK is building on its position as a “reliable and trusted source” of information and networking for all stakeholders.

“AAK is a facilitator, collaborator and reliable advocate of the policies and strategic linkages for improved food production and positive social contribution,” It will broaden its appeal and be able to expand to a new space. Today’s event will help increase relevance and value and drive growth to our members – Mr. Wachira Mureithi, Vice Chairperson of AAK

The new brand image resonates with offering solutions… not just issues of crop protection. “Our new position in the market will be a brand that reinforces our commitment to human well-being (food, nutrition & health) and sustainable use of ecosystem services and is envisaged to drive and solidify AAK as the authority in the market on matters concerning sustainable farming practices.”

Our new brand outlook will also build and leverage on our international partnerships with CropLife international, CropLife Africa Middle East and other development partners, so as to further achieve our common objectives.

The AAK stakeholders and membership is drawn from the Ministry of Agriculture, the Pest Control Products Board (PCPB), partners, and AAK member companies. AAK would like to reiterate its commitment to work with the government and all its stakeholders towards the delivery of 100% food security, safety, and nutrition commitment in a sustainable manner now and in the future.

AAK has a rich history spanning 64 years with a focus on improving the lives of Kenyans through the provision of life-changing technologies for farmers.

In 2005, AAK registered CropLife Kenya as a shift towards alignment with the global pesticide industry. AAK is therefore a member of CropLife Africa Middle East and consequently a member of CropLife International, which is the global representative of the pesticide and plant science industry.

The association stewards its products throughout their life cycles, from manufacture, distribution and use. In addition, following product use, the industry has developed programs to collect and recycle empty containers, to train pesticide users, extension agents, agrodealers and manufacturers in the responsible use of pesticides, AAK also runs awareness programmes to protect end users from the negative effects of counterfeited pest control products among other initiatives.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Business

Understanding Youth Entrepreneurship in Kenya: Why FinTech is an Attractive Sector

by Daily Trends
written by Daily Trends

By Didi Onwu, Managing Editor of the Anzisha Prize

Boasting one of the fastest growing economies in Africa, Kenya is on the rise to become a powerhouse of innovation on the continent.

This is largely in part due to the country’s thriving culture of entrepreneurship and its significant startup ecosystem.

Kenya has a long and storied history with entrepreneurship as the country’s early start to independence led to the growth of its informal sector and meant many Kenyans were self-employed in their own small enterprises.

As such, the government sought to facilitate the development of the informal sector and, in 1973, officially recognised the role of entrepreneurship in creating employment, driving innovation, and opening opportunities in the country.

Today, with access to unparalleled levels of support through some form of acceleration or incubation, Kenya’s around 308 startups have helped to position the country as one of the “Big Four” startup ecosystems in Africa, alongside Egypt, Nigeria and South Africa.

In fact, 45.5% of startups in the country have taken part in either local or international accelerators or incubators compared to 45.1% of startups in Nigeria, 38.6% in Egypt and only 25% in South Africa.

While the country maintains a diverse startup ecosystem across industries such as mobility, logistics, agriculture, technology, and energy, as a pioneer of mobile money payments across the continent (which has since experienced a phenomenal boom) it’s no surprise that financial technology (FinTech) is the biggest sector of Kenya’s startup space, with FinTech ventures making up more than 30% of the country’s startups.

FinTech currently constitutes three times the market share of the next biggest startup sectors in the country including Agri-Tech, e-health and e-commerce. 

Financial services innovation lies front and centre of Kenyan entrepreneurship

Since its emergence in Africa over a decade ago, FinTech has enraptured the continent by revolutionising the way consumers save, pay, invest, and access financial services. Today, the continent accounts for three quarters of the world’s mobile money and peer-to-peer transactions by volume and more than half the world’s mobile money customers can be found in Africa. This showcases significant appetite from consumers across the continent for fintech solutions.

One of the biggest reasons for FinTech’s rising popularity is that the sector has proven itself to be a major catalyst for enabling more inclusive and accessible financial services.

With more than 400 million adults in Africa excluded from the formal financial services, or reluctant to use them due to excessive costs, mistrust, and because many feel these services are not really designed to serve them, fintech solutions are making great strides in lowering barriers to financial services, such as cost, while also increasing speed and accessibility. 

According to FT Partners’ latest FinTech in Africa Report, the Kenyan government’s commitment to financial inclusion and innovation has been the biggest driver in the growth of the country’s FinTech sector.

Through initiatives such as the Regulatory Sandbox which enabled FinTech companies to operate in a testing environment for a year prior to regulatory approval, Kenya has ensured significant access to financial services – with a higher banked population than other countries in sub-Saharan Africa – while enabling the country to become one of the continent’s primary technology hubs.

The growth and popularity of mobile payment service provider M-Pesa is one of the biggest testaments to the success of this government-led support of entrepreneurship and innovation.

Challenges and opportunities for young entrepreneurs

Young Kenyans are increasingly harnessing their country’s growing tech prowess to go into business for themselves. In particular, many young entrepreneurs across the country are leveraging the opportunities that the ever-expanding FinTech sector has to offer. 

At Kenya’s leading institution for business and accounting, Strathmore University, many students are interested in pursuing traditional career tracks like joining the ranks of major financial firms, but quite a few are just as eager to start their own enterprises.

This includes entrepreneurs like the 20-year old Collins Kathuli who co-founded FinTech Kyanda in 2020 with the aim of offering the cheapest access to financial services for both businesses and individuals by leveraging the power of technology.

Kyanda has since partnered with banks, telcos, and utility and financial institutions to offer consumers omnichannel payment solutions through a single platform enabling utility bill payments, payment collection and disbursements, and more. 

However, as startups need to continuously operate at an incredibly fast pace, driven by the need to innovate and deliver increased value to customers, maintaining a growth momentum often requires them to scale up as quickly and effectively as possible.

But many challenges lie in the way of these entrepreneurs’ journeys to scaling up their businesses for their growth and development. This includes high taxes, unclear or burdensome regulatory requirements, and skills gaps in the workforce.

Young entrepreneurs therefore require access to the right tools and resources needed to do so, as well as easier connection to financing and opportunities.

Supporting the local startup ecosystem is vital to accelerating access to opportunities for the country’s youth, as well as the positive impact that entrepreneurship continues to bring to local economies.

While startups might seem small, their impact on an economy can be astronomical. This impact can be seen not only in their contribution to a nation’s GDP but also in innovation, employment growth and opportunities, as well as cost benefits to consumers because of increased competition. 

Ensuring that startups in Kenya can scale effectively could see the country become a leading entrepreneurship hub in Africa, and lead to the growth of the country’s economy, competitiveness, and digital innovation.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Politics

Sakaja’s Chief of Staff David Colludes With City Cartels to Grab Land in Westlands

by Daily Trends
written by Daily Trends

Barely six (6) months in the office, Nairobi Governor Johnson Sakaja’s Chief of Staff David Ndungu Njoroge is troubled for colluding with city hall cartels to grab public land sitting on an estimated 1.5acres in Westlands.

According to anonymous sources within Sakaja’s inner circle, Mr Njoroge’s mystery plans to grab Westlands land are secretly executed by untouchable city cartels who have networked with senior government officials for cover-up.

Sources revealed to this publication that Mr Njoroge tapped Former Chief Officer for Lands Stephen Mwangi who is Chief Executive Committee Member (CECM) of Urban and Planning in Sakaja’s government.

Mr Mwangi and Njoroge are reportedly finalizing the acquisition of “fake” title deed to grab the land in question and set rental apartments.

More details to follow.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Politics

News Just In: Jeremiah Kioni, David Murathe Kicked Out Of Jubilee Positions

by Daily Trends
written by Daily Trends

Former Ndaragwa MP Jeremiah Kioni has been dismissed from his position as the Jubilee Party Secretary General.

According to the Party Chairman Nelson Dzuya, Kioni has been suspended on the basis of laxity and misconduct.

Speaking at the Jubilee Party Parliamentary Group meeting in Nakuru, the party’s top brass announced that EALA MP Kanini Kega will take over as the acting Secretary General.

Also suspended are Treasurer Kagwe Gichohi and Deputy Secretary General David Murathe.

He was suspended on claims of gross misconduct.

Rachel Nyamai is the new acting Jubilee Treasurer while Adan Kyenan acting National Vice Chairman.

The Jubilee National Executive Council (NEC) also announced that they have set in motion a process to exit the Azimio coalition, distancing themselves from Azimio’s anti-government rallies.

The parliamentary group meeting ran parallel to a similar meeting convened by Azimio leader Raila Odinga in Machakos county.

The Machakos meeting was addressed by Wiper Party leader Kalonzo Musyoka, DAP-K honcho Eugene Wamalwa, Minority Leader Opiyo Wandayi and Jeremiah Kioni in his capacity as the Jubilee Party Secretary General.

In his address, Kioni averred that the Jubilee Party is firmly rooted in the Azimio coalition despite over 30 Mps meeting and pledging support to President William Ruto.

The State House meeting came just days after a section of ODM MPs also met the Head of State and his deputy Rigathi Gachagua.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Business

Former Giant Sacco Fighting For Survival Following Rapid Membership Loss

by Daily Trends
written by Daily Trends

At one point in time, it was the darling of the Savings and Cooperative organisations in the country.
With the murder of a former senior official still lingering in the minds of people in the country, there is very little to help in the image control of the organisations that once enjoyed the personal support of former President Daniel arap Moi, at the height of the one-party Kanu era.

Its employees were ranked on the same pedestal as Kenya Revenue Authority (KRA) and Central Bank of Kenya (CBK).

Now, the monolith is clutching on weak straws as it struggles to breath its last. Literally.

The former financial giant Harambee Sacco Society Limited is fighting for survival following a rapid membership loss that has left it on the brink of collapse.

How times change? Kenya Police staff bolted to form the fastest growing Kenya Police Sacco and now, the once moribund Kenya Defence Forces are in the process of revamping the outfit that was almost sunk by Harambee Sacco, thanks to the senior managers who serve

In the last three years alone, they have lost over 17,000 members, leading to a Sh4.82 billion payout.

This latest development comes in the backdrop of endless reports of mismanagement and fraud which threw the Sacco into a tailspin and from the look of things,everything seems headed south for Harambee Sacco.

The Chairman Mr Macloud Malonza and CEO Dr. George Ochiri on a courtesy visit to the IG NPS Mr. Japhet Koome at the IGs office. Photo/Courtesy

It is equally regrettable that some of the common malaise in the country’s corporate world has caught up with Harambee Sacco, where dues to the statutory organisations like the National Social Security Fund (NSSF) and the hospital insurer are not updated.

The majority of its clients are drawn from the military, National Police Service, National Youth Service, national and county governments, parastatals and departments and constitutional bodies.

The management led by Chief Executive Officer (CEO) George Ochiri and Chairman Macloud Malonza, the vice chairman of Cooperative Bank Kenya have attributed the biting exits to retirements within the civil service cadres.

Before his appointment as the Harambee Sacco CEO, Ochiri served as the former chief executive of the Safaricom Sacco.

Close industry players attribute some of the problems to a poor work ethics and laisezz faire approach by leading managers of the organisation, something that exposes Ochiri’s culpability in the running of the organisation.

Harambee’s financial report for the year 2021 showed that ongoing departures are largely founder members who make up the most loyal segment of its membership.

The records further show that the Sacco’s operation costs increased from Sh274.49 million to Sh2.166 billion in 2021 due to higher financial expenses and personnel expenses.

However, its annual revenue for 2021 surged to Sh4.2 billion having recorded a 32 per cent growth attributed to an increase in loan uptake, while the firm disposed of assets to boost liquidity.

The growth of members’ deposits and savings was hindered by almost equivalent withdrawals, where the society paid out a total of Sh1.42 billion to members who withdrew in 2021, compared to Sh1.32 billion paid to members who left the Society in 2020.

For the year 2021, the loan book contributed to 81 per cent of the revenues, with loans and advances going up by 11 per cent from Sh21.87 to Sh24.38 billion in 2021.

In 2017, Harambee Sacco Limited deficit before tax rose to Sh1.39 billion compared to Sh197.2 million surplus before taxation in 2016.

Needless to say, the institution has regularly been in the cross-hairs of the Sacco Societies Regulatory Authority (SARSA).

In 2012, a SARSA inspection found that the Harambee was in an acute liquidity crisis having failed to meet nearly all prudential parameters.

They had a negative core capital and had material variances between the outstanding loan portfolio reports and provisions for loan losses, at the time.

In 2015, an official at the Sacco (name withheld) was sent on compulsory leave while an interim audit of controversial expenditures and inconsistent questionable figures of Front Office Savings Activities (FOSA) loan totalling Sh3bn was underway.

He was temporarily forced out just three days before the deadline for submitting reconciled FOSA loan report to SARSA.

The audit targeted three lines of alleged cash fleecing conduit of imprest, I Owe You, a summary balance sheet detailing bank records of loans paid up in cash and a marketing vote.

The Sacco management had committed to avail reconciled financial records particularly explaining inconsistent figures of the Sh3bn FOSA loan.

In the past, Harambee Sacco Limited has been embroiled in controversies of massive financial scams and unresolved murders of senior officials.

For instance, former Finance Manager, the late Benson Ojiambo, was murdered at point-blank range by a lone gunman in Embakasi, Tassia Estate along Outering Road on October 29, 2012.

A week prior to his death, Ojiambo was set to appear before the Agriculture, Co-operatives parliamentary committee for questioning over the alleged financial scams, and massive fraud cover-ups as revealed in SARSA’s confidential report in 2012.

The late Ojiambo was in charge of reconciling collections from the cashiers and ATM withdrawals with the computer entries and had prepared to present a report on the ATM scheme to the parliamentary committee.

Ordinarily, SACCOs are allowed to borrow a maximum borrowing of 25 per cent of the total value of assets upon an AGM authorisation through a resolution by all members.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Entertainment

Photos: 20-Year-Old Beautiful Azimio Girl Behind Governor Sakaja’s Fast-Growing TikTok Account

by Daily Trends
written by Daily Trends

Nairobi County Governor Johnson Sakaja Saturday announced that he had joined the now famous social media platform, TikTok.

With barely two days of joining the platform, Sakaja has already gained over 206,000 followers as at the time of publishing this article.

Behind the fast growth of his, there is a 20-year-old lady who has been running it since its launch on Saturday.

Speaking on Saturday, January 29 while unveiling the account, Governor Sakaja revealed that the 20-year-old content creator Mbaka Wainaina was behind his new TikTok account.

“I can see everyone is asking who is the one person am following, it is my social media manager, follow her as well,” Sakaja announced while introducing her to the public.

Though a famous TikToker, Mbaka came to the limelight during the campaigns ahead of the 2022 general election.

She had been campaigning for Azimio and pushed hard to influence her followers in voting for her fellow woman, NARC Kenya party leader, and Azimio running mate Martha Karua.

She worked closely with Diana Ngao, head of communications, Martha Karua’s secretariat. She is also a co-founder of Girls for Girls Teens.

Mbaka is the only person being followed by Sakaja on TikTok.

Below are some of the photos we picked from her TikTok account.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Lifestyle

Ni Kubaya! More Kenyan Marriages To End in Premium Tears Following Latest Court Ruling

by Daily Trends
written by Daily Trends

More Kenyan marriages may soon end in premium tears.

This follows the latest supreme court ruling that was delivered by Supreme Court judges Philomena Mwilu, Smokin Wanjala, Njoki Ndungu, Isaac Lenaola and William Ouko.

According to the Apex Court judges, the doctrine of presumption of marriage is on its deathbed following changes to the matrimonial laws in Kenya.

So where does this leave Kenyans who have been in come we stay marriages for a very long time?

Well, the court said the presumption of marriage should only be used sparingly where there is cogent evidence to support it.

Therefore, no matter how long you live together with your spouse in a come we stay set up, it cannot be recognized as marriage.

“It is becoming increasingly common for two consenting adults to live together for long durations where these two adults have neither the desire, wish nor intended to be within the confines of matrimony,” they said.

“Where such a situation is evident and there is no intention whatsoever of contracting a marriage, the presumption of marriage must never be made where this intention does not exist. It must always be remembered that marriage is a voluntary union. As such, courts should shy away from imposing ‘marriage’ on unwilling persons,” they added.

They said they recognise that there exist relationships where couples cohabit with no intention whatsoever of contracting a marriage.

For instance, the court observed that a person may have been in a marriage before and the marriage is no more due to the death of a spouse or divorce and due to their prior experiences, such persons may choose to have an interdependent relationship outside of marriage.

For others, the judges said, it may just be their desire never to marry but have a partner without the confines of marriage.

The judges urged the National Assembly, the Senate and the Attorney-General to formulate and enact Statute law that deals with cohabitees in long-term relationships, their rights, and obligations.

This ruling stems from a dispute between two long cohabitees who were fighting for an equal share of a property that they jointly acquired.

The case was first instituted by the man against the woman whom he claimed to be his wife.

His arguments were that they began cohabiting as husband and wife sometime in 1986 and that from joint savings, they purchased a property that later became the bone of contention after he was evicted from it.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Business

KURA Director General’s Mistress Incensed After Mising Road Deal

by Daily Trends
written by Daily Trends

The Kenya Urban Roads Authority (KURA) Director General’s Mistress is on the spotlight for influencing tenders in the government parastatal over a deal gone sour.

The KURA Director General Silas Kinoti’s mistress who works as a clerical officer in the authority was incensed after a tender was awarded not in her favour.

The DG’s mistress Judy Mose is said to have threatened to revenge after a roads tender in which she had a direct interest was awarded to a different contractor despite the fact that the Director-General had assured her of the tender.

A furious Mose has sworn to teach the Acting Director, Urban Roads Planning and Design Engineer Jacinta Mwangi for frustrating her efforts of landing the deal.

Mwangi is not happy with Mose’s tricks in the multibillion roads agency whose mandate is the management, development, rehabilitation and maintenance of national urban trunk roads.

The Acting DG has been insisting that public procurement laws must be followed to the latter as she sealed loopholes used as corruption.

Trouble started when the authority floated tender number KURA/RMLF/CE/056/2020-2021 for the Periodic Maintenance of Lot 7 Roads Nanyuki/Sweet Waters Road /Ngoro/ Theru/ Nanyuki Road in Nanyuki Municipality worth KShs 14.2 million.

The tender was awarded to a contractor by the name Kaboi Building Contractors Ltd on October 12, 2020, to the disappointment of Judy, who immediately stormed the Director-General Engineer Silas Kinoti’s office to protest.

A tweet by prominent and controversial lawyer Ahmednasir Abdullahi who has a twitter following of 2 million followers raised the alarm and attracted attention on the influence that the junior officer at the authority has courtesy of her alleged love relationship with the DG.

Kenyans went viral with Ahmdnasir;s tweet and challenged the Directorate of Criminal Investigation (DCI) and the Ethics and Anti-Corruption Commission (EACC) to take necessary action at the KURA headquarters

Kenyans on Twitter have exposed KURA DG Mistress who influences Tenders and has been having an affair with the KURA DG who is under the heavy spotlight for trying to extend his term illegally. A Viral Tweet by Lawyer Ahmednasir ignited the debate that has been trending on Twitter for two days now as Kenyans turn the heat on DCI and EACC, demanding immediate action on the scandals.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Business

Your Salaries Are Not Safe! How Cooperative Bank is Stealing From Millions of its Customers

by Daily Trends
written by Daily Trends

Kenya’s Co-operative Bank may have lost around 18,000 customers in the first half of 2022-23, following a plethora of accusations and poor publicity precipitated by its own internal poor controls and alleged corruption.

A banking insider told reporters he regarded the loss of any customer as a “irreparable damage” but argued the numbers leaving were not as bad as might have been expected, given the negative publicity that has hounded the bank.

“When you consider what the bank has gone through I don’t think it’s a bad outcome, but I certainly don’t want to appear, or nor am I, complacent about it,” the banker said.

The recent move, by some members of the Kenya Military, Police and Prisons services follows the varying charges on the RTGS. This, compared to the rest of the players, gives the bank hefty profits for a service offered freely by industry players,” says an insider with knowledge of the goings on.

“In most cases, when an employee is paid his or her salary, it is expected that the transfer is done free of charge. But, in the case of Cooperative Bank, they charge an amount, which is its right meaning is theft or rip-off. The bank is simply stealing from millions of its customers and you can imagine the money they collect at the end of the month,” says a member of the Armed Forces, Mwangi Daniel.

The customer loss was revealed on after the bank reported a narrower profit for the first six months of 2022-23.

Hot on the heels of a case of the bank charging Sh42 for alert messages, a case in Migori County where the bank unleashed auctioneers on a customer and case where a dead client.

In January social media influencer Pius Kinuthia reported that a family in Mogori sued the bank for damages, something that took the social media community by storm leading to the affected family suffering irreparable losses.

The move to sue the Migori branch manager invited a public outcry but as usual, the bank’s PR Department responded with hubris and condescending messages.

In another case, a customer accused the bank of deducting money from the mother’s account while the elederly customer was criticalluy ill in hospital.

Coop Bank, in their usual reply template, said in a message signed off by FN: “Hello, please DM the account holder details incluing the account number, mobile number and the date they visited Maua branch so we may do a follow up.”

A customer Edwin Ochieng said that money was educted from his account without his knowledge.

The bank was left fighting for its survival after a massive capital shortfall was exposed in June last year following a failed bid to buy of branches from loss making Jamii Bora Bank one of the worst performing financial institutions in the country.

Jamii Bora was rescued when investors including Saccos and farmers agreed to a recapitalisation which meant Co-op Group went from outright owner to holding just a small percent stake.

The bank’s problems were exacerbated when current Managing Director and CEO Gideon Muriuki was named in many cases and innuendos touching on his ownership of land and other property, including a case on his private life that generated lurid headlines in Kenyan social media platforms.

The negative publicity likely resulted in some customers becoming disillusioned with the bank, which had built its reputation around ethical credentials such as not investing in weapons, tobacco and alcohol manufacturers.

Despite that, insiders say Co-op Bank attracted nearly 10,000 new customers during the period, leaving it with a net loss of 28,199 current or checking account holders, equivalent to nearly 2 percent of the total.

Kenyans are often reluctant to move between banks because of the perceived difficulties involved, although new rules that guarantee the paperwork will be completed within seven working days have lifted the number switching.

Kenya’s third-biggest lender reported a pretax profit of more than Sh11 billion compared with a slight change over the same period the previous year, though banking insiders attribute the figures to massaging of the accounts.

“It is not rosy at the bank. Things have not been good and the net effect is that the management, using position and influence in the industry can make the figures glossy as they can be. Afterall, it is a private entity, only regulated by the Central Bank of Kenya,” says an insider.

Co-op Bank also said its core Tier 1 capital ratio, a key measure of financial strength, stood at 11.5 percent at the end of June and was expected to be significantly above the previous guidance of 10 percent at the end of 2020.

The bank raised an additional Sh400 million from investors in May after its Tier 1 ratio slipped to 7.2 percent, dangerously close to the 7 percent absolute minimum required by the financial regulator.

“A large proportion of our cost is in people and, consequently, we will continue to see job reductions. There have been one or two redundancy programmes and I believe there will be one or two more in that respect,” he said.

An independent review commissioned by the bank, published in April, concluded that the root of the bank’s problems lay in its 2009 takeover of the Jamii Bora Bank and poor management controls.

On the other end, it is claimed in many places that the bank made a hefty donation to the Kenya Kwanza campaign during the last General Elections in which William Ruto floored ODM leader an Azimio Presidential candidate Raila Odinga.

During the last days of the campaign run, Coop Bank CEO Muriuki is alleged to have visited the Hustler Campaign headquarters with a donation of Sh200 million, though some people quote a different figure.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Load More Posts