Mid-Week Business

Retrenchment: There are retrenchments on going on at several state corporations this month as the packages have finally being approved by the Office of the President and the cost-cutting which is going to affect several thousand employees gets underway. The Minister of Finance is soon expected to grant tax waivers to cushion the blow to employees, but the packages are nowhere near as lucrative as those golden handshakes of the 1990’s since, these days, retrenched employees are no longer paid their employers’ contribution until they are 55 years old.

Debt waiver:  The Nairobi City Council has announced another six-month interest waiver for defaulters to pay the principal amount outstanding in six installments from August to January 31 2007. Failure to pay could lead to either denial of business permits, NCC auctioning a property, or even compelling tenants (not landlords) to pay the rates.

Business news sources: Since the Nation and Standard have both made most of their business sections and archives subscriber only, the only local newspaper to have free business news online remains the Kenya Times which has a comprehensive daily business section.

Heat + Inside Man = Nairobery: A crime wave has hit Nairobi in the last month that targets banks, forex bureaus, petrol stations and business people that are executed with a lot of forward planning, inside information, and stakeouts – all resulting in millions of shillings being snatched at a go without a shot fired. Much of the blame has been directed at recently released prisoners who have resumed violent criminal lives while the police have also pointed a finger at under-paid and frustrated bank employees.

Regional Aviation: 

  • Uganda will get a new national airline (25% owned by the Government) called Victoria International Airways, which will begin flights from Entebbe to regional destinations such as South Africa from October 1. from Air Finance Journal
  • Precision Air of Tanzania (49% owned by Kenya Airways) will receive three ATR 42-500 aircraft and three ATR 72-500 aircraft between 2008 and 2010. from Air Finance Journal
  • African Express Airways became the first international airline to fly and actually land at the Mogadishu International airport which has been closed for 14 years.

No more yellow maize: Africa is unlikely to receive imports of US corn as food relief in the future given that the excess US farm outputs can now be diverted towards the production of Ethanol. The grain required to fill a 25-gallon SUV gas tank with ethanol will feed one person for a year.

Sports Kenya: Kenya hosts Bangladesh in a cricket match this weekend, the first major local cricket event since the 2003 Cricket World Cup match where Kenya defeated Sri Lanka.


From the daily papers this week

  • Regional manager at Africa now. Apply to kisumu@africanow.org. by August 18.
  • Various engineers at East Africa Cables. D/L is August 18.
  • Fund manager, accountant and various officer vacancies at Farm Africa. Details at www.farm-africa.org and D/L is 14 August.
  • Institute of Security Services: Senior researcher Nairobi, Officer director and project head Nairobi. Details at www.issafrica.org and D/L is 18 August.
  • Kenya Wildlife Services: head of business development, manager business development.  D/L is August 23.
  • Procurement analyst at the National Oil Corporation of Kenya. Apply to mdnock@nockenya.co.ke by 18 August.

7 thoughts on “Mid-Week Business

  1. Mpendapesa

    Out of curiosity! Has anyone subscribed to the Nation Premium content service?

    I think this new strategy is faulty, because users in Nairobi who pay or subscribe for the print edition and read the online edition, have to pay twice for the same content. Nation needs to get a temporary password or provide some sought of access for these people. At times I buy the paper but I still want to access the website content.

    As for Standard, who subscribes to their online edition? Thats a doomed venture – I think.

    Just thinking loud!

  2. acolyte

    @ mpendapesa
    What I am trying to do is to marshall a group of people so that we can spread the cost of the subscription amongst ourselves.I dont think many people who can get hold of the print version of the paper bother reading the on-line version as the print version is more in-depth.
    The Standard subscription fee is mindboggling!
    @ bankelele
    I think the NCC interest waiver is a good move but compelling tenants to pay rates isn’t!
    The Kenya Times site has horrible presentation and that has always kept me from taking a deeper look.
    I think both factors have contributed to the spate of robberies.It’s about time the prisons made a way for ex-cons to reintegrate into society instead of just releasing them with busfare so they can go back to the very same habits that put them there in the first place.

  3. coldtusker

    Nation & Standard through http://www.newsstand.com provide a digital copy online that is great for Kenyans abroad who have broadband & are willing to sell out $25 per month per paper.

    I am glad that Banks is keeping up the good work even in these trying times!

    Kenyans don’t have the funds for integrating these crooks back into society. There are other pressing matters like hunger & diseases.

    We need a new approach! Something radical like the Islamic Sharia.

  4. coldtusker

    Kenya doesn’t need food aid when we can buy 3 luxury cars for Shs 52 Million…

    I remember the Yellow Maize in the 1980s but many Kenyans rejected it!

    Oddly, I liked it coz the ugali was a “different” colour from the dirty white we normally had…

    While in the USA, yellow maize is preferred during the BBQs (roasted or boiled) coz it is “sweeter”…

    In any event, we have no reason to be upset considering annually we pay moi Shs 18M, kibz & clowns make 15M + each, MPs 10M+, bosire 50M, ringera 24M+…

    Add all those overpaid, underworked folks salaries & voila… we can BUY all the food we need. Even better invest the “excess” funds into INFRASTRUCTUE…

  5. Anonymous

    many, months ago – i subscribed to nation,east african,standard and businessafrica on newstand.com. it was interesting getting a digital copy – but once it expiired i didnt renew coz i didnt feel it was worthwhile. – i mean being able to read the classifieds was kind of interesting and also some of th eadverts were eye opening.

    for example i rememeber seeing mercedes benz trucks – or was it fuso truck for sale at 100K down, 100K a month. i was wondering if business is that good that you can amke ur payments and then some.

    but bottomline is that i did not feel like i was getting value for money.

    on the other hand this guys have been charging subscription since the mid 90’s and are still in business

    if weekly review was still around then i would be willing to pay for their service coz it was more analystical than the hype we get from nation and standard – not to mention the poor standards of journalism.

    so for anyone out there business and i mean detailed business news will sell coz we kenyans out here are in a curious situation where we want to invest but dont have access to the information that we need in order to make wise investment.

  6. The.Hanyeé

    Mogadishu International? Even with a mad B.O.(hundred)G.O.F promo for tickets, siendi!

    As for Inside Man jobs..u forgot the fact that the cops know where that heat be…yeah, this is what u get for paying the coppers didly squat!

    Its a pity that, due to the digital nature of the Standard Online, I can’t use it for what the only thing the Standard offline (all rubbed together, crumpled and soft) is worth – in that “drop-top” loo in my shagz…

  7. bankelele

    Mpendapesa: Can’t afford any premium services, but luck am in Nairobi.

    acolyte: Are there any nation/standard password floating at http://www.bugmenot.com?

    Coldtusker: You want to chop off hands of thieves? But you’ll never get the hands of big thieves since they are beyond justice

    Anonymous: Agree on Newstand.com. There’s so much in the papers that never gets posted online, and it’s worth paying for.

    The.Hanyeé: Even if Kofi made you his special advsior and flew you to Mogadishu on UN flight?
    I like the Standard, as it has been a useful counter-balance and has kept the Nation in check

Comments are closed.