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Billionaires want to make money and will not invest in something because it’s good: Senator Sakaja

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Speaking as the chief guest during the 3rd Edition of the Association of Startup and Small and Medium Enterprises conference held at the crown plaza early today Senator of Nairobi County Hon. Johnstone Sakaja weighed in on why Kenyan Billionaires are not interested in Investing in Scalable Start ups.

Sakaja wants NLC probed for delay in issuance of title deeds to Nairobians

“Billionaires are not interested in nice things.They are interested in making money. As such they put their money where they see money can be made and where their interests are protected. They are not necessarily the good people who like hugging as saying this is a beautiful thing to do.They are sharks and if they do not see how they will benefit from a start up they will not have any interest in it.”

Speaking on how such Private sector players can be influenced to take an active role in enabling growth of scalable startups Hon Sakaja added.

“For such billionaires to invest in scalable start ups incentives by the cabinet secretary to include tax incentives and laws safeguarding such investor interest by the National Assembly should be put in place.So for the first 5 years such investors may be excepted from corporate tax or be entitled to some tax breaks.”

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‘I designed Thika Super Highway’, Raila reveals

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ODM Leader Raila Odinga has disclosed that he was the one that designed Thika Super Highway.

Addressing a rally in Thika Town on Saturday afternoon, the opposition chief said it was during his time as Prime Minister during the era of President Mwai Kibaki that several other roads were designed which the Jubilee Government has implemented.

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18 Kenya Power staff members grilled over the frequent power outages

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18 Kenya Power staff members have been grilled over the frequent power outages that have been witnessed in the country.

Among the 18 staff members who were questions were five senior officials who are: Engineer Raphael Ndolo Kimeu ( acting general manager network management), Engineer George Korir Kipkoech (the chief engineer transmission countrywide) Major (retired) Geoffrey Kigen Kipkurui (heads the countrywide management security service) Peter Kithusia (chief security officer in charge of Nairobi region) and Anthony Gathii Charamba (a technician along Juja road).

Reports indicate that a team of investigators have been drawn from different crime units to handle the same after it emerged that the basement of the angle towers of Kenya Power high voltage power lines had been vandalized and the cross beams removed and unbolted.

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Kenyans In the Diaspora Sent Home Ksh.422 Billion In 2021

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Kenyans living abroad sent home a record Ksh.421.6 billion ($3.718 billion) last year, setting a new all-time record for the diaspora remittances across a single year.

Fresh data from the Central Bank of Kenya (CBK) shows the remittances grew by 20.2 per cent from Ksh.350.9 billion ($3.094 billion) in December 2020.

December saw the highest remittances in the 12 months cycle as Kenyans in the diaspora sent home Ksh.39.8 billion ($350.6 million) – a new monthly record for the forex flows.

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