The Bank will be the official Financial Partner for the 4-day fourth leg of the world circuit in the WRC calendar, cementing the Bank’s position as one of the biggest sponsors of sports in East Africa.

KCB 2024 investment includes KShs. 100 million to WRC Safari Rally Kenya to support preparations and logistics for the rally. The Bank has set aside an additional KShs. 16.6 million for sponsorship of two local drivers – Karan Patel who is the reigning African Rally Champion, and Nikhil Sachania. The balance will go into various customer engagement campaigns and brand activations.

KCB Group CEO Paul Russo said: “We take great pride in being part of the region’s motorsport story, since 2003, when we first sponsored the Safari Rally. We are glad to have been part of this transformational journey that has seen Kenya return to the top of the global motoring space. It is exciting to see that our sponsorship has resulted in the growth of motorsport in the region, opening up the sport to hundreds of young talent.”

KCB has a rich history in the sports sponsorship arena. Our involvement in sports goes way back to several decades ago. During the period, the bank has spent KShs. 2.5 billion in support of rugby, golf, athletics, motorsports, football, volleyball, and rugby with a robust aim of opening doors of opportunities for young people to realize their dreams in line with the Group’s brand purpose, For People. For Better.

As a result, KCB has spent over KShs 1.7 Billion in motorsports over the past 21 years through the Kenya National Rally Championship, Autocross, and the Safari Rally.

“KCB is keen to continue entrenching the sustainability agenda into motorsports, as a way of taking care of the Planet and the People. We see motorsports as a great platform for change, to provoke positive climate impact while simultaneously driving inclusivity by integrating Environmental, Social, and Governance (ESG), specifically in managing risks and opportunities related to environment and the society,” he added during the announcement of the sponsorship in Nairobi this morning.

In this regard, KCB has adopted SDG 13 on Climate Action and has prioritized environmental conservation through tree planting activities, with a target of growing 300,000 trees this year, working with other partners. Last year, the Bank planted 320,000 trees and this year by joining hands with WRC we are bound to drive this initiative further. We will also be prioritizing waste management initiatives to promote recycling and minimize waste production throughout the four days of rallying.

“On the social pillar, we will be keen to ensure the safety of the spectators and drivers during this rally sport event as we are aware of the potential dangers that come with the sport. This will be supported by good governance in which we will ensure comprehensive and clear rules and regulations that cover all aspects of the sport are implemented.  The Bank will be promoting inclusivity and diversity within the sport by empowering small businesses, youth and women, and underrepresented groups. This will be seen through our choice of support towards the 2 drivers and vendors who will be brought in to support the event,” he added.

Cabinet Secretary for Youth Affairs, Creative Economy, and Sports Ababu Namwamba, said: “We are proud to be associated with a reliable partner like KCB which has once again showcased that together, we can host such a world-class event. As the enthusiasm among Kenyans starts to build, we believe that we shall be able to offer them an exhilarating rallying experience like never before.”

As a reward to its loyal customers, the Bank has launched a deposit campaign during this period dubbed Gurumisha na KCB Promotion, focusing on promoting savings and allowing KCB customers to win great prizes of up to Kshs 500,000 weekly. The bank seeks to drive positive change and make a meaningful impact in the communities it serves.

Christened as one of the toughest competitions in the WRC calendar, the 2024 Safari Rally is expected to attract over 50 local drivers including the defending Champion, Sebastian Ogier, as well as former Champion, Kalle Rovanperä.

She was a renowned entrepreneur and educator.
NIBS College has grown exponentially having branches in Ruiru-Kimbo along Thika Highway, Ongata Rongai, Nairobi CBD, and Thika town.
Liz Wanyoike has also left behind a prestigious multi-million five-star hotel located in the posh Kileleshwa estate called The Emory Hotel.

By Sheisaggie

His words to the hitman were, “put that woman down” and “finish her”. Muthinga’s plan failed when h met a policeman who pretended to be a hitman in Putman, at a hotel. The “hitman” agreed to ingest the family member with fentanyl.

The plan was to happen when Leonard was in Kenya and that was to be in January between 28^th and 3^rd February, 2024 so he would not be suspected.

By Sheisaggie

He was received at Delhi’s palm technical airport by Union Minister Bhagwant Khuba and Arindan Bagchi, the official spokesperson for the ministry of external Affairs India.

William Ruto is expected to participate in a business and investment event during his visit to India. 

He took to twitter that they have built robust partnerships in health, agriculture, ICT and many other sectors for the development and advancement of both nations. He also said that Kenya and India share deep historical ties that date back to the 18th century.

What are your thoughts on this visit?

By Sheisaggie

The company is aiming at planting 8,000 seedlings during this exercise and reach a target of 10,000 seedlings before the end of this year in a bid to assist in environmental conservation.

Dr.Michael Musyoka,Isuzu East Africa company Market research and sustainability manager is leading the exercise.

The branch opening was inaugurated by – NCBA Group Chief of Staff and Director of Strategy, Louisa Wandabwa accompanied by the Group Director Retail Banking, Tirus Mwithiga.

“At NCBA, we believe in fostering financial inclusion, supporting economic growth, and enhancing the prosperity of the communities we serve. Our commitment to these principles has driven us to expand our presence to Ruaka Town, an area briming with potential and promise. Being one of the youngest of our branches the positive reception we have received from the community has been fantastic. As such, we believe that the growth and prosperity of this great County go hand in hand with our success as a bank. Therefore, our decision as NCBA to open this branch demonstrates our dedication to supporting the needs of the people and businesses in this community.” Said Tirus Mwithiga, NCBA Group Director, Retail Banking.

In a bid to address customers’ needs, the Branch will focus on providing customers with a broad range of financial products and solutions including current accounts and Savings accounts (CASA), mobile banking, paybill, investment in money markets, Fixed deposits openings wealth management and more through their lending and trade facilities.

The new branch will service the customers of Ruaka town and the greater Kiambu county, assisting the agriculture and horticulture trade business. As well as other business sectors such as Trade, Real Estate, and construction in the developing town.

“Ruaka has in the recent past become one of the fastest-growing satellite towns in the Nairobi Metropolitan Area which has in turn made it become a major center for Real Estate investment and development.  This not only makes it an investment hub, but also a town with limitless possibilities, which is why NCBA chose to find a home to settle here. By opening a branch here, we have been able to provide the residents with access to financial services that are designed to meet their individual needs.” Said NCBA Chief of Staff and Director of Strategy Louisa Wandabwa.

Alongside its extensive expansion strategy, NCBA has also launched its deposit mobilization campaign aimed to reward loyal and new customers. Customers who open new bank accounts, grow their financial portfolios or increase their term deposit holdings at NCBA given the terms of the campaign stand a chance to win big cash prizes.

This shift comes after a prolonged period of consistent depreciation, which has effectively narrowed the gap between the official exchange rate and the retail selling rates of the US currency.

The shilling’s depreciation has been a prominent concern throughout the year.

Since the outset of 2023, it has depreciated by approximately 17.7 percent against the US dollar.

This represents more than double the rate at which it depreciated against the dollar in the entire year of 2022, which stood at 8.3 percent.

The Central Bank of Kenya (CBK) published its indicative rate on Monday, revealing a dollar buy price of Sh149.84 and a selling rate of Sh150.04 units, with an average exchange rate of Sh149.94.

During the course of the day, the spot or average trading rate climbed to Sh150.03.

The indicative rate is essentially the closing price of the previous day’s trading session, serving as the opening price for the following day.

A survey conducted across banking institutions, including all nine tier-one banks, indicated that they were selling the dollar at rates ranging from Sh154.95 to Sh157, while their purchase prices ranged between Sh141 and Sh149.95.

Meanwhile, forex bureaus quoted dollar selling prices ranging from Sh156.50 to Sh157, with buying rates between Sh152 and Sh153.

Of particular note is that banks have been consistently selling the US dollar at rates exceeding the Sh150 mark since late August.

The Kenya Revenue Authority (KRA) has targeted to collect Sh1.1 trillion from large taxpayers this financial year.

KRA commissioner general Humphrey Wattanga says this will be an improvement from Sh818 billion that large taxpayers contributed in revenue, representing a 9 per cent growth from the previous financial year.

According to Wattanga, the authority is banking on a relationship management framework to help facilitate contribution among the large taxpayers. Large taxpayers refers to those traders who accrue an annual income of up to Sh1.3 billion. Currently, Kenya has 2,089 traders who are registered as large taxpayers from various sectors of the country’s economy.

“At KRA, our commitment is not only to collect taxes but also to support you in upholding compliance, while efficiently contributing to our nation’s economic agenda,” Wattanga said.

To facilitate this, KRA has established a dedicated office for our large taxpayers known as the ‘Large Taxpayers Office’ (LTO), which will continue to engage and partner with you through a relationship management framework.

The government is banking on this revenue to stir growth through development projects in infrastructure, (Sh823 billion), education (Sh635 billion), micro, small and medium enterprises (MSME) (398 billion), healthcare (Sh259 billion), agriculture (Sh250 billion) in the next five years. This is estimated to cost Sh2.67 trillion.

The crops (miraa) 2023 developed by the Ministry of Agriculture seeks to streamline the planting, handling, transporting and exporting of the ‘Green Gold’ to ensure that the farmers get maximum profits from the commodity.

The regulations drafted by the Ministry of Agriculture seek to put stringent handling of the commodity to avoid damage and to maintain the original quality.

“A vessel used for transportation of miraa shall be built and equipped to ensure maintenance of optimal temperatures and hygiene to prevent damage, contamination and spoilage of produce. (6) quality assurance for the handling, packaging, transportation harvesting and postharvest handling of produce under this section shall be in accordance with the code of practice,” reads part of the regulations.

This even as non-compliant produce due to food safety reasons shall be seized, detained and destroyed at the offender’s cost and that miraa produce presented using forged export or import documents shall be destroyed upon interception and the company is suspended from an export dealership for one year.

This even as non-compliant produce due to food safety reasons shall be seized, detained and destroyed at the offender’s cost and that miraa produce presented using forged export or import documents shall be destroyed upon interception and the company is suspended from an export dealership for one year.

Besides, the regulations that will be considered by the Senate, the Cabinet Secretary may by a notice in the gazette impose a levy on miraa produce or products and that the levy imposed shall be at a rate of Sh2 per kilogram of miraa produce imported or exported.