Business News Highlights

Nairobi to host global ICT symposium as world leaders move to boost sustainable development

Nairobi is set to host yet another Global Capacity Building Symposium (CBS-2016) as the government, in conjunction with industry stakeholders, moves to bolster the field of information and communication technology (ICT). The symposium, organised by the International Telecommunication Union (ITU) — the UN specialized agency for information and communication technologies (ICTs) — and hosted by the government of Kenya, will take place from September 6 to 8, 2016, preceded by pre-events on September 5.

Under the theme “Embracing Capacity Building Opportunities in the Digital Era”, The event brings together leaders from all over the world including Ministers, Director-Generals of Regulatory Authorities, Heads of UN organizations, CEOs of private sector companies, representatives from universities and research institutions, human capacity building executives and other experts in ICT capacity building.

Optiven in Sh2.5 million drive to create over 1 million jobs by 2035

The Optiven Group Foundation, through its OptinInvest programme, has announced plans seeking to create more than 1 million jobs by 2035. Optiven CEO George Wachiuri said the move would cost the firm over Sh2.5 million, an amount that would double systematically year by year until the end of the programme.

He said the firm decided to give out 5 per cent of its total profits back to the society where they will be supporting over one million entrepreneurs. Washiuri said the move was arrived at after the recent data from the World Bank revealed that 75 per cent of total Kenyan population comprise of youths out if which 40 per cent are unemployed. Briefing the press in Nairobi this morning, he confirmed that the firm has formed a panel of five judges who will determine which 40 entrepreneurs will benefit from the programme based on their proposals.

Last Mile contractors to connect 314,000 households to power by April 2017 deadline

Contractors implementing the initial phase of the Last Mile Connectivity project have been directed to complete their work of connecting the 314,000 households by end of April next year. Kenya Power Managing Director Ben Chumo said the project contractors who complete their work on time will be given priority in the next phase of the Sh63.5 billion project.

Chumoa, who was speaking during a project review on Thursday, said the much awaited government-led Last Mile project has started to gain momentum with contractors on site, extending power lines from the identified 5,320 transformers in different parts of the country. He added that though local contractors will be given priority in the next phase. The move will be determined by how well they complete their work in the current phase. The Last Mile Connectivity project is in line with the government’s strategy to increase electricity access in the country to 70 percent by 2017 and achieve universal access by 2020.

CBK flags off annual Foreign Investment Survey as regulator moves to support investment promotion and policy formulation

The Central Bank of Kenya (CBK) has kicked off its annual the Foreign Investment Survey in a bid to support investment promotion and policy formulation. The Survey, to be carried out between August and October this year, seeks to collect information from resident enterprises on their foreign assets and liabilities in the 2014/2015 financial year. Speaking during the launch of the study on Thursday, CBK Governor Patrick Njoroge said it will be done in collaboration with the Kenya National Bureau of Statistics (KBNS) and the Kenya Investment Authority.

This will be the fourth edition of the drive following other surveys that were carried out in 2010, 2013 and 2015. The survey will be administered to statistically-selected local enterprises based on their cross-border transactions.

Ministry of Health launches National Rabies Elimination Coordination Committee

The Ministry of Health has today launched a taskforce known as the National Rabies Elimination Coordination Committee in a bid to combat one of the world’s deadliest diseases. Principal Secretary for Health Dr. Nicholas Muraguri, who presided over an event unveiling the Committee, noted that rabies kills up to 60,000 people per year worldwide.

In Kenya, 1,000 to 2,000 human deaths are due to rabies. It is also ranked as one of the top five zoonotic diseases for prevention and control in Kenya. Despite the fact that rabies is an acute and highly fatal viral infectious disease affecting the central nervous system and the only communicable disease of man that is nearly 100 per cent fatal. Speaking in Nairobi this morning Dr. Muraguri noted that the spread of the disease is nonetheless preventable.


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