Vacationing in a bird’s nest

Imagine overlooking one of Africa’s most unique wilderness, the Busanga Flood plains in Zambia’s Kafue National Park, from a ‘birds’ nest’ atop a tree. The Bird’s Nest is a new destination in Zambia, offering unrivalled experiences. There are four human-sized nests perched in trees which offer an open view of the plains, be it from the luxurious beds, sitting out at the deck or from the shower. The main area, covered with canvas, provides an intimate atmosphere for guests. The camp is solar powered, and has a plunge swimming pool to cool off during the hottest times. Vincent Kouwenhoven, the

CBK forex reserves down Sh26bn

Kenya’s forex reserves have dipped by an equivalent of Sh26.5 billion ($262 million) since the beginning this year to Sh858.52 billion ($8.496 billion). The reserves have fallen from a high of $8.94 billion (5.59 months of import cover) recorded on October 24, according to Central Bank data. In the absence of a major external debt issuance since the last Eurobond in May, CBK has depended on the normal market flows from diaspora remittances and exports to replenish its pile of hard currency. Sterling Capital head of research Renaldo D’Souza said the decline is to be expected considering the huge jump

Safaricom co-op to diversify income streams

Safaricom Investment Co-operative (SIC) is set to diversify its revenue streams to strengthen its balance sheet in the wake of reducing returns from the real estate sector last year. SIC is planning to venture into property agency business, manufacturing, ballast mining, healthcare and financial services sectors starting March. The co-operative targets to raise 40 percent of its 2020 revenue from the new businesses. SIC’s revenue declined to Sh55.9 million for the year ended December compared to Sh525 million a year earlier, partly due to compliance with the IFRS 15 accounting standard which resulted in deferment of Sh217 million worth of

Lawyer mints money from apartments he doesn’t own

After graduating from the University of Nairobi with a law degree last year, Fredrick Obuya didn’t look for a job to ply his trade in the courtroom. Rather he veered from his career professional path and plunged into hospitality business through online platform, Airbnb. Eight months down the line, he has little regrets as he is making admirable progress in this line of business. Mr Obuya markets apartments to visitors who want a more home-away-from-home experience at an affordable cost. He started off with a friend’s four-bedroom house at Sunset Lane in Nyali. He furnished it with all the frills

Card payments rise 32 percent

The use of cards for payments defied the mobile onslaught to grow by 32 percent last year compared to 2018, new data shows. Central Bank of Kenya (CBK) data shows the value of card transactions in 11 months of 2019 through prepaid cards, charge cards, credit and debit cards, and through Point of Sale (POS) machines stood at Sh641.13 billion. CBK did not capture the transactions made in May. Even so, the payments at retail locations represented a 32 percent growth from Sh484.81 billion recorded in 12 months to December 2018. The number of transaction in the period under review

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