Business Snapshot this weekend!

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Insightful Reads to Spark Your Business Growth?

Explore this week’s top business stories—a curated blend of business, economy, leadership, and innovation to inspire your weekend reading.

Kenya prime office uptake dips to 72.7pc in second-half of 2024

In the second half of 2024, Kenya's prime office occupancy rate declined to 72.7%, down from 77.2% in the first half. This decrease is attributed to an increased supply of office space in the market.

• Oversupply Impact: The influx of new office spaces has outpaced demand, leading to lower occupancy rates.
• Market Dynamics: The decline in occupancy rates may prompt property developers and investors to reassess their strategies in the commercial real estate sector.

?A CEO who lives a life with no regrets

Bonface Isinta Ombui, CEO of Choice Microfinance Bank, became the youngest bank CEO at 30. He led the bank’s transition to a national institution, achieving an KSh 8M profit in 2023. His success stems from innovation, adaptability, and a clear vision.

• Innovation Drives Growth: Embracing creativity keeps banking dynamic and enhances customer service.
• Visionary Leadership: A clear strategy and adaptability differentiate businesses in competitive markets.

Ken Wathome: A Life Anchored in Faith, Family, and Leadership

Ken Wathome's life is deeply rooted in faith, family, and leadership. Guided by his father's visionary influence, he has navigated various leadership roles, emphasizing the importance of integrity and service. His journey reflects a commitment to personal growth and community development.

• Visionary Guidance: Wathome's father's foresight equipped him with the tools to master future challenges, highlighting the impact of parental mentorship on leadership development.
• Integrity Leads: Trust and ethical leadership drive community success.

Affordable Housing Board acting CEO on measures to drive costs of units down

Sheila Waweru, acting CEO of the Affordable Housing Board, outlines efforts to meet the 250,000-unit annual housing target. Currently, 124,000 units are in progress, with 4,888 set for completion by June. The initiative ensures nationwide distribution and economic stimulation.

• Widespread Development: Housing projects across constituencies promote fairness and regional growth.
• Affordable Ownership: Mortgage and tenant purchase plans at 9% interest over 30 years enhance accessibility.

Weight loss transformation: How we achieved our dream bodies

For years, Wambui Masitsa struggled with weight gain, trying countless diets without lasting success. "I've always wanted to lose weight and have tried every diet imaginable," she says.

• Personalized Nutrition: Tailoring diets to an individual's blood composition can effectively balance hormones and support weight loss.
• Holistic Approach: Combining personalized meal plans with regular monitoring may enhance the effectiveness of weight loss programs.

Other Curated Reads for You

• Airtel to open its cash tills, paybills to M-Pesa users by March: Airtel Money will enable M-Pesa transactions by March 2025, boosting interoperability with CBK's support.

• Banks post Sh262bn pre-tax profit on high loan rates: Kenya finalizes a $3.5M carbon credit deal, allocating 25% of revenues to sustainability and capping trades for market control.

• Kenya’s mining sector ripe for reforms: Kenya’s mining sector needs reforms to boost investment and productivity. Poor policy execution has stalled progress, while artisanal mining could contribute up to 10% of GDP.

• Housing levy defaulters face bank accounts, PIN freezes: KRA will enforce the 1.5% housing levy, targeting defaulters with bank freezes and PIN deactivation. The focus is on informal sector compliance to boost contributions.

• Strategies to survive when tried and tested market formulas fail: Traditional strategies are failing in a fast-changing market. Businesses must stay agile, adapt to trends, and embrace innovation to stay competitive.

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