Business News Highlights

 Sectoral reforms have made it easier to set up businesses in the Counties – World Bank.

It is easier to start a business in Uasin Gishu, deal with construction permits in Kisumu, register a property in Nairobi and enforce a contract in Busia, a new report by the World Bank has revealed. The survey, dubbed ‘the World Bank Group Ease of Doing Business in Kenya 2016 report’, submitted that Counties presented a variegated picture of performance for entrepreneurs and investors, citing an array of obstacles depending on where they do business.

The report that examined business regulations affecting domestic firms across 4 indicators: starting a business; dealing with construction permits; registering property; and enforcing contracts in eleven counties. With the exception of Narok and Kakamega, all counties rank in the top half and bottom half on at least one indicator. 

Kenya to host Commonwealth meeting as member states move to address sustainable development

Kenya is set to host the 12th edition of the Commonwealth Women’s Affairs Ministers Meeting (WAMM) in 2019. The announcements were made during the conclusion of the 11th WAMM held in Apia, Samoa which was attended by Ministers, senior government officials, civil society members and development partner agencies from across the globe.

Public Service, Gender and Youth Affairs Cabinet Secretary Sicily Kariuki described it as an honour for Kenya. CS Kariuki said the WAMMs meeting are held to build consensus on Commonwealth issues, develop a unified position and informally exchange views outside of a negotiating forum.

Mobile money solutions providing opportunities for financial inclusion, says Safaricom

 The linkage between commercial banks and mobile network operators in the developing world will continue to play a key role in bridging the financial inclusion gap, Safaricom CEO Bob Collymore has said. Speaking when he chaired a panel discussion on Central Banking and Financial Inclusion during a symposium to mark the Central Bank of Kenya’s 50th anniversary, Collymore acknowledged that mobile network operators are providing complementary services to Commercial Banks, helping to accelerate financial inclusion.

In a clear case of a situational leapfrog due to technological ease, more and more developing world citizens are likely to access their first banking experience on their mobile phone handsets, than on a brick and mortar bank branch, Collymore said. The ubiquitous mobile phone technology, he noted has given rise to a variety of solutions and innovations that allow consumers to conveniently access financial services from the palm of their hands. Such access, he noted has had a domino effect on economic and social growth as individuals previously locked out of the financial ecosystem begin to enjoy the benefits of banking and credit access.

Kenya’s Eddy Njoroge narrowly loses ISO Presidency

Kenya’s Eddy Njoroge on Tuesday narrowly lost his bid to be the next president of the global standards body, International Standards Organisation (ISO). Some 53 delegates voted for Canada’s John Walter while 52 delegates voted for Mr Njoroge in the tightly contested polls, amid calls by developing nations for greater transparency and inclusion in the formulation of standards and related polices by the global standards agency.

The election took place during the ISO’s General Assembly meeting in Beijing, China. The former Nairobi Securities Exchange (NSE) chairman who received huge support from African, Middle East nations and other developing nations was poised to be the first African to head the organisation in 70 years. Speaking after the conference, developing country delegates, led by the Kenyan delegation at the forum said Kenya, Africa and developing nations had made history despite the narrow loss.

 

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