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Economy

Mombasa Port cargo volume rises 10 pc first quarter

The Port of Mombasa handled 9.54 million tons in the first quarter of the year 2021 compared to 8.62 million tons in a similar period last year recording 10.7% growth rate.Between January and March, the Port also witnessed increased volumes in container traffic registering 389,515 TEUs against 340,812 TEUs recorded in a similar period in 2020.Transshipment traffic recorded 69,658 TEUs against 41,363 TEUs during the corresponding period in 2020.The container traffic translates to an increase of 48,703 TEUs or

Mastercard, Uber extend partnership to boost growth of digital economy

Mastercard and Uber has announced extending their long-standing partnership with a new strategic initiative focusing on digital payments and advancing financial inclusions, facilitated by Mastercard across the Middle East and Africa (MEA).The collaboration will enable Uber to drive digitization across their business operations, leveraging Mastercard’s single infrastructure to meet all types of payments needs across Uber Rides, Uber Eats, Uber Pass, and Uber for Business. It will boost cashless payments,

Millennials and Planning for Retirement

Retirement planning is all about managing your money so that you can make the most of your retirement years, at the same time accumulating wealth.A recent survey carried out by T. Rowe Price, an American publicly owned global asset management firm, revealed that most people retire by the age of 60 to 65 years. However, millennials say that they would wish to retire much earlier than 65 years. Even with young people looking forward to retiring early in life, a good number is reluctant to start contributing to retirement

NCBA, Mi Vida partner to offer affordable mortgage financing

NCBA Bank has partnered Mi Vida homes to provide mortgage finance for the purchase of apartment units at their Garden City project.The units being financed will include 1, 2-and 3 bedroom apartments with prices ranging from Kshs. 8.8 to 16.7 million. Phase One construction is very advanced with completion due in March 2022.Commenting on the signed Memorandum of Understanding (MOU), NCBA Head of Property Finance Stella Mutai noted that NCBA Bank is committed through partnership with institutions, to facilitate

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KCB Uganda Appoints Agnes Mayanja as new Executive Director

KCB Bank Uganda Limited has appointed Agnes Namyalo Mayanja as an Executive Director.In her role, she will deputize and support the Bank’s Managing Director in the overall strategy formulation and implementation of astute leadership and management in line with the bank’s vision, mission, and values.Prior to joining KCB Bank Uganda, Agnes Mayanja worked as the Chief Risk Officer for dfcu Bank Limited where she was responsible for the Bank’s risk management operations and strategies.She is a seasoned banker with

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