“Navigate the dynamic landscape of business with our comprehensive Business section. Explore insightful analyses, market trends, entrepreneurship stories, and expert advice to stay ahead in the corporate world and make informed decisions.”

Coffee Price

The Coffee prices increased by 18 percent this week at the Nairobi Coffee Exchange (NCE), a trending market analysts attribute to the registration of more mills and the high demand for clean beans presented for sale.

A market report by the NCE secretariat reveals that during this week’s Sale 21, registered coffee brokerage firms offered for sale 23,930 bags, compared to 20,281 traded in Sale 20 last week. Out of which 17,459 bags, accounting for 73 percent of all coffee traded, were top grades AA and AB.

The report notes that total earnings from the auction reached $7,295,208 ( Sh970 million), which was a significant increase from the $5,786,468.20 (Sh769.6 million) returned during last week’s auction.

The average price increased to $248 (Sh32,128) from $ 232 (Sh30,856) per bag, accounting for 6.9 percent of the total achieved last week. This average price is equivalent to Sh100 per kilo of cherry on the trading floor. A coffee value chain expert, Henry Kinyua, explained that the auction has been If you look at the catalog, it indicates that more coffee is being milled and equally delivered to those offered for sale. “The catalog indicates more mills have been licensed and are now operational, thus easing the crushing of parchment coffee, and equally, quality has remained impressive,” said Kinyua on the phone. The disbursement of coffee proceeds through the Direct Settlement System (DSS), he said has boosted farmers’ morale, and they are thus frequently releasing their coffee into the market.

Coffee Price

The best Coffee Price in The Kenyan Market 2024

Data from the NCE indicated that coffee farmers in the last five months of the 2023/24 crop year have received over Sh12 billion through the DSS that was developed by the Cooperative Bank of Kenya.

The data indicated that between Oct 1, 2023, and the end of February this year, the DSS system settled 17.2 million kg, accounting for 339,803 bags in total coffee volumes valued at $89.5 million.

On August 8, 2023, NCE announced the appointment of the Cooperative Bank of Kenya as the provider of DSS to coffee value chain players after every sale in the country.

In addition, the clearing and settlement of trades through the Co-op Bank’s Direct Settlement System (DSS) have ushered in unprecedented levels of price transparency that have greatly rebuilt the trust that farmers have in the coffee auction and the Nairobi Coffee Exchange.

NCE on August 8, 2023, announced the appointment of the Cooperative Bank of Kenya as the provider of DSS to coffee value chain players after every sale in the country.

The NCE secretariat confirmed that the highest price recorded from the sale reached $455 (Sh60,515) from the Kiamugumo factory of the New Ngariama Farmers Cooperative Society in Kirinyaga County. Other factories whose coffee costs more than $400 (Sh53,200) per bag include the KII Factory, Karimikui, Kerugoya, and Kabingra from Kirinyaga County. Others included Gichatha-ini, Gakundu, Kamwangi, and Kiunyu in Nyeri County. During the auction, a total of 847 bags, or 4 percent of all bags traded, fetched more than $400 (Sh53,200) per bag.

Kirinyaga Slopes Coffee brokerage company successfully traded 8,343 bags at an average price of $292 (Sh38,836), which was also the highest average price by any broker. Baringo Kawa Brokerage Company, the latest entrant, also presented 247 bags for trading and received an average price of $206 (Sh27,398).

0 FacebookTwitterPinterestEmail
Pavan Kentan Ramji Shah and Anderson Kombe

Pavan Kentan Ramji Shah and Anderson Kombe Hare allegedly conspired to defraud Igsar Group Company Limited, Husaaba Trading Company Limited, Sunova International Limited, and Inland Logistics by fraudulently withdrawing the money using falsified cheques.

At least two men have been charged at a Mombasa court for allegedly stealing Sh200,585,052.00 among other fraud-related counts.

Pavan was also charged with stealing by a servant, contrary to Section 281 of the Penal Code, in which it is claimed that he stole the money that came to him by virtue of being an accountant of the three firms.

He was also charged with false accounting contrary to Section 328 of the Penal Code, Chapter 63 of the laws of Kenya, where it was alleged he made false entries in the said companies’ book of accounts for intercompany transactions by filling out falsified Bwanyange Limited ABSA bank cheques purporting that Sh200,585,052 was paid to the companies by Bwanyange Limited for payment of goods, forex trading remittances, and other related transactions with Bwanyange Limited.

The offenses were allegedly committed between June 20, 2018, September 30, 2020, and February 22, 2021, at Igsar Group Kenya Limited offices at the Canon Towers building in Mombasa County, within the Republic of Kenya, respectively.

The accused persons, who pleaded not guilty, were each released on a Sh5 million bond with two sureties.

Senior Resident Magistrate Gladys Olimo issued arrest warrants against Alex Mutemi Mwenga, Robert Wangila Wandera, and Barnabas Agar.

The case being prosecuted by Prosecution Counsel Hilary Asiaho is scheduled for pre-trial on March 26, 2024.

0 FacebookTwitterPinterestEmail

There is hope for women in the taxi business after an association that will champion for rights was regestered.

The ‘ She on the Wheel‘ a woman E hailing taxi business was regestered earlier this week and its officials believes that it will be a turning point for women in the taxi industry.

Speaking to the press during its official launch in Nairobi, Jay Bee Masakhwi said that the association will talk on behalf of women in the business. The ladies will now engage with apps owners uber, bolt , little cab, farasi among other apps and strategies on pricing mechanism.

” This association will talk on behalf of women who are in the taxi business, this will help them fight all forms of injustices and all forms of violations of their rights,” Masakhwi said.

She called on women in the industry to quickly join the association for their rights to be protected.
” We are officially Registered ! Join us on our inaugural meeting as we celebrate the baby steps, ” she said.

The association has now embarked on recruitment among other key programmes for the welfare of its members.

More to follow…

0 FacebookTwitterPinterestEmail
john waluke

It has been surprising after a casual worker looses the job without clear and prior notice of the job dismissal in sirisia sub-county, bungoma west, in bungoma county.

The victim who was working as an ICT/COMPUTER personnel in butonge ACK primary school got a sudden dismissal from the job without early notice over the same. butonge ACK primary school is located in sirisia constituency in bungoma county.

more so, the victim was instructed not to near that school premises whatsoever.

The area community was much eager to know the reason for the urgent dismissal of that worker from there community school.

From the report in the same community there was a needy and desperate family which needed the well wishers including the office of their MP area to give a hand of help for their suffering situation.It was said that the MP office had the report fron the family requesting for help but unfortunately the office gave the family a deaf ear.

The victim tried to lament over why the MP office had not taken any initiative off helping that family which in turn caused that immediate dismissal of the victim. The dismissal was done immediately this lamentation reached the office of HON. JOHN WALUKE the area MP.

Working fron within sirisia constituency has become dangerous given the recent scenario where other person’s property was totally destroyed unlawfully from within.

This not be the only case of someone having it rough especially when dares sirisia constituency leadership. It is now with fool of fear and tension to the people especially who work from that constituency and dares HON. JOHN WALUKE’S leadership.

0 FacebookTwitterPinterestEmail

Agriculture is the major boost to Kenya’s economy, making up 25 percent of Kenya’s Gross Domestic Product (GDP). Agriculture in Kenya mainly involves crop farming, livestock keeping, and fishing. Sustainable agriculture practices in Kenya have improved crop production because they emphasize on use of environment-friendly chemicals. They include the following:

1. Organic Farming.
Organic farming involves the use of non-toxic chemicals in pesticides, insecticides, and fertilizers. This enhances soil health thus resulting in high yields.

2. Conservation tillage.
These are practices that involve soil conservation to prevent soil erosion, improve soil fertility, and enhance water retention.

3. Crop rotation.
Crop rotation is the practice of growing a series of different types of crops on the same farm in a growing season. This helps in preventing the plants from soil-borne diseases.

4. Agroforestry.
Agroforestry is the planting of trees for water retention, prevent soil erosion, and provide shade for plants.

5. Water Management.
This involves efficient use of water to prevent wastage. Water management also improves crop yields and protects water catchment areas. The Kenyan Government is working effortlessly to achieve food security in the country. Climate change and poverty are the main challenges facing Kenya in terms of food security.

Climate change for instance in Arid and Semi-Arid Lands (ASALS) has affected largely the production of crops because of the very high temperatures and unreliable rainfall experienced in the regions which cannot sustain the growing of plants for food.

Poverty is also a challenge to food security whereby regions with sufficient rainfall and sunlight are unable to practice agriculture due to a lack of resources such as adequate land, materials, and products for farming.

The government of Kenya has come up with measures to curb food insecurity in the country. Firstly, the government supports efforts to increase agricultural productivity through the use of technology and secondly, it supports the purchase and storage of strategic Grain Reserves.

Several Non-Governmental Organizations(NGOs) have launched programs in Kenya to donate food and basic commodities to areas with food and water shortages.

0 FacebookTwitterPinterestEmail

State-owned corporations in Kenya are working to onboard their services onto the e-Citizen online platform as they strive to meet the December 31, 2023 deadline imposed by the government.

In June, President William Ruto directed all ministries, state corporations, and agencies to comply with the migration of government services onto the e-Citizen platform and raise awareness of the transition by the end of the year.

This initiative is a crucial component of the government’s broader plan to digitize its services, designating e-Citizen as the primary digital payments platform and Pay Bill Number 222222 as the single payment platform for the government.

The government has warned that state corporations failing to adhere to this directive by migrating their payment services to the e-Citizen platform will face the shutdown of all existing non-designated Pay Bill numbers.

Over the weekend, the National Transport and Safety Authority (NTSA) issued a public notice announcing the temporary interruption of services on its Transport Integrated Management System (TIMS) portal. NTSA attributed this disruption to the ongoing migration and integration efforts aimed at enabling access to all services through the E-Citizen single sign-on platform. They encouraged clients to validate their e-Citizen accounts during this period.

The National Health Insurance Fund (NHIF) informed its members and employers that all NHIF payments via mobile money platforms must now be made exclusively through the government’s Pay Bill Number 222222. This shift reflects the government’s commitment to streamlining and modernizing its digital payment infrastructure.

0 FacebookTwitterPinterestEmail

(HELB DISBURSES)The Higher Education Loans Board has disbursed funds to continuing students at universities and Technical and Vocational Education and Training Institutions (TVETs).

This is after the government issued a directive on the new method of funding higher education.

In a statement issued by the Chief Executive Officer (CEO) of HELB, Charles Ringera, the funds will be distributed to student’s bank accounts or HELB mobile wallets.

HELB DISBURSES: “Over 175,000 undergraduate students and 70,000 TVET continuing students will receive the funds under the Old Higher Education Funding Model (OFMO), “reads the part of the statement.

The funds are expected to be reflected in the student’s bank accounts as of October 5.

The deadline for first-time students applying for government funding is October 7, as earlier directed by Education Cabinet Secretary, Ezekiel Machogu.

They are required to apply for funding under the New Higher Education Funding Model (NFM) for both loans and scholarships.

Previously, before President William Ruto’s government introduced the new HELB model, each student under the government-sponsored program at the University was awarded between Sh.40,000 minimum and Sh.60,000 maximum per academic year.

However, the loan was disbursed in two installments, with part of the money being transferred directly into the institution’s account and the remainder being paid into the learner’s account.

Visit our Facebook Page For more news on Rofina media

Contrary to the previous administration’s recently unveiled funding formula for Higher Education, HELB is required to allocate funds to students based on needs.

The exact formula and criteria for identifying needy students are still unclear.

Public universities and institutions have increased their tuition fees, which has posed a challenge to parents and guardians, for they can hardly afford it.

ALSO READ:depression-taking-charge-in-the-weak-economy/

The increase in fees is likely to force bright but needy students to drop out of school due to financial constraints.

0 FacebookTwitterPinterestEmail

Kenya Railways has announced that the Nairobi Railway matatu terminus will be closed from 6.00 am to 6.00 pm on Sunday, September 24.

In a statement released on Friday September 22, the institution stated that the closure is necessary for carrying out a utility survey.

“Kenya Railways in conjunction with Nairobi City council, intends to carry out a comprehensive Ground Penetration Radar Utility survey at the Railways Matatu terminus and the Easy Coach park, ” read the statement.

Public service Vehicles (PSV) and the general public have been urged to opt for alternative pick -up and drop off points.

“Matatus from Ngong Road and Valley Road to pick up and drop off passengers at the Green Park, ” read the statement.

“Those from Langata and Mombasa Roads to use Agip Bus Bay, in front of Posta City Square and the street between Neno Evangelism church and shell petrol station, off Haile Selassie Avenue. ”

According to the public notice, the procedure is part of the Nairobi Railway city project that involves planning and design of the new Nairobi Railway station and public Realm.

This project was launched on December 7, 2022, in a groundbreaking event that was graced by president William Ruto.

  • It is aimed at providing seamless integration to the city’s modes of transport through an expanded central station, new Bus Rapid Transit lines and stations as well as revamped matatu terminus.
0 FacebookTwitterPinterestEmail

In the bustling city of Nairobi, Kenya, where dreams often collide with the harsh realities of life, there shines a beacon of hope named Justus Mokaya Ronald. Born and raised in the humble backdrop of Nyamira County, Justus has emerged as a dynamic force for change, dedicating his life to the betterment of youth and women in Kenyan society. His journey from a modest upbringing to becoming a prominent figure in youth empowerment, politics, and education is nothing short of inspirational.

The Birth of Ezeshaplus Organization

Justus Mokaya Ronald’s passion for youth and women’s empowerment led him to establish the Ezeshaplus Organization. Founded six years ago with a modest loan of 20,000 Kenyan Shillings from a police officer in Kayole, the organization has since grown into a vital force for change. Its primary objective is to empower the less fortunate women and youth in society, offering them sponsored vocational and technical courses examined by the government through the National Industrial Training Authority (NITA).

Education and Mediation

Justus Mokaya Ronald’s commitment to empowerment extends beyond his organization. He holds an accredited professional mediator certification from the Pan Africa Christian University, showcasing his dedication to conflict resolution and community harmony. Additionally, he is a graduate of Northwestern Christian University, where he earned a degree in Leadership and Management. His educational journey also includes a Diploma in Business Administration from the Foundation Institute of Africa.

World Youth Summit and Gusii Youth Movement

As the Country Director for the World Youth Summit in Kenya, Justus plays a pivotal role in connecting Kenyan youth to global opportunities and platforms. He is also a proud patron of the Gusii Youth Movement, where he actively supports initiatives aimed at uplifting the youth in the Gusii community.

A Political Leader with a Vision

In the 2022 General Elections, Justus Mokaya Ronald took a bold step into the political arena by contesting for the Nairobi Senatorial seat. His campaign was a testament to his dedication to bringing positive change to Kenya through politics.

Media Presence and Analysis

Justus Mokaya Ronald is not confined to the realms of politics and education alone; he is also a sought-after political and educational analyst. He collaborates with Kenya’s main media houses, including KTN, K24, and the national broadcaster KBC, providing insights and perspectives on critical issues facing the nation.

The Boy Child Initiative

Beyond his other roles and achievements, Justus is the founder of the African Boy Child Relief Initiative. This organization’s primary focus is on empowering and nurturing the boy child, a segment of society often overlooked. By investing in the boy child, Justus envisions a future where responsible fathers and stable families are the norm, addressing numerous societal challenges.

Vice-Chairperson of FORD KENYA

Justus Mokaya Ronald is the Vice-Chairperson of the FORD KENYA party in Nairobi County. FORD KENYA is a political party whose leader is the Speaker of Kenya’s National Assembly. Justus’s involvement in the party reflects his commitment to political leadership and his dedication to making a positive impact on the nation.

Justus Mokaya Ronald’s journey from a humble background to a prominent figure in Kenyan society is a testament to his unwavering commitment to youth and women’s empowerment, education, and the betterment of his community and nation. Through his various roles and initiatives, he continues to inspire and lead, leaving an indelible mark on the hearts and minds of those he touches. His vision for a well-empowered boy child and a brighter future for Kenya shines brightly on the horizon.

0 FacebookTwitterPinterestEmail

roperty dealers have a reason to smile after Real Estate firm Finsco Africa Limited entered into a deal with National Bank that will allow its customers to access funding from the lender to purchase land.

The deal comes at a time when many Kenyans who despite willing to buy land end up just shelving their dreams because of financial constraints.

According to the agreement, the partnership will see customers interested in buying currently being sold by Finsco Africa in Thika town access as much as 70 percent of the funding.

CEO of the company John Mwaura said the deal will involve development financing and user finance with a repayment period of even up to 10 years.

Mwaura said customers who purchase their project Thika Grove Chania will benefit immensely from the partnership.

The real estate firm which is known for its clean deals has put up close to 200 acres of land where they are targeting middle and upper middle class who may want to set up residential areas In a controlled development.

The land has a close proximity to Thika and Nairobi.

Mwaura says that land and housing are some of the fastest growing sectors in the country hence the need to bring many Kenyans on board.

“We have a growing demand for houses especially from the middle class. Satellite towns are growing at a significant rate and that’s why we need to provide sufficient land for the same,” he said.

Mwaura further said that Kenyans have really been moving outside the already crowded Nairobi leading to the demand for land being high in towns close to the capital.
Chairman Association of Real Estate Stakeholders Kinyua Wairatu lauded the partnership saying it will help Kenyans own land.

Wairatu who is leading a rigorous campaign of bringing sanity in the real estate sector urged more partners to come on board saying that many Kenyans have been yearning to own land but they are usually turned down by financial constraints.

“We formed RESA to clean this sector. Kenyans can already see that genuine companies like Finsco who are our members are partnering with banks. This is a welcome move and I urge Kenyans to only trade with companies that are under our umbrella. We want land sector to be clean and free from controversies,” he said.

Finsco company targets to build close to 10,000 affordable units in line with the government agenda to provide affordable housing.

0 FacebookTwitterPinterestEmail
Newer Posts

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy