Business highlights – January 29, 2018

Business highlights – January 29, 2018

Treasury to reduce spending on non core activities

The National Treasury will reduce expenditure on non-core activities to fund key priority areas. Treasury Cabinet Secretary Henry Rotich said that in orderto support economic growth, the Government had adopted a raft of measures to fund its key policy while safeguarding a sustainable debt position.Speaking during the opening of public hearings for the 2018/2019 Medium-Term Budget at the KICC in Nairobi, the CS said “allocations to key areas such as universal healthcare, food security, housing; education, energy and social protection will be prioritized.

Ksh50 million kitty to support SMEs in Laikipia County

Laikipia’s County government has set aside Ksh50 million to support small businesses. Trade, Tourism and Cooperatives County Executive Nicholas Biwott stated that the County aims to create more jobs by enhancing the capacity of the existing over 70,000 small and medium-sized businesses by allowing applicants to access between Ksh50,000 and Ksh300,000 in funding.

Online retailer set to increase workforce in 2018

Jumia, the region’s leading online retailer, has announced plans to more than triple its sales agents in 2018, creating 20,000 new jobs.Under its sales consultancy programme dubbed J-Force Jumia plans to empower individuals to become entrepreneurs by selling the firms products to customers and earning a commission in the process.Since the online retailer’s inception in 2013, the company has recruited 6,000 agents under the programme

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