MKU launches Kes20 Million hotel

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MKU launches Kes20 Million hotel

Staff Writer - June 2, 2021

Mount Kenya University has launched a Kes20 million hotel at its main campus in Thika. The hotel will be the training ground for MKU...

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Sinotruk, known for its affordable quality trucks in the tipper and prime mover segments, is expanding its offerings by introducing light and medium duty vehicles aimed at strengthening its market dominance across the segment. The trucks which include the Sinotruck H2 (light duty) and H3 (medium duty) models are set to revolutionize the transportation industry. These models offer higher payload capacities and larger fuel tanks, reducing the need for frequent refueling and enabling longer hauls, which translates to overall fuel cost savings. Additionally, they are affordable with higher horsepower, delivering strong performance, with enhanced driver comfort and additional features such as air suspension seats and sleeper cabins. With proven reliability and long-term durability, these trucks stand out as leading options in the light and medium-duty truck categories. Speaking during the launch ceremony, Sinotruk General Manager, Mr. Sarfraz Premji said, “Investing in Sinotruck by CFAO for our customers means that they will be getting a truck that delivers everything that matters for their business, which is more power, efficiency, durability, comfort and supported by a trusted aftersales network across the country. The launch of these models will cater for both the last-mile delivery and the heavy load delivery in addition to long haulage.” The Sinotruck H2 light duty truck can carry a higher payload, provide drivers comfort and be fuel efficient. It is equipped with a 160-horesepower engine, a fuel tank capacity of 120 liters and a full air braking system. The vehicle is suitable for transporters, bakeries, FMCG distributors, flour millers’ wholesalers, exporters, manufacturers among others. On the other hand, the Sinotruck H3 medium duty truck can carry a bigger load capacity by having a reinforced double chassis which provides greater strength and rigidity that can operate in highly challenging environments. It also caters for the drivers’ comfort, especially for long-distance haulage and its ideal for sand harvesting, water bowsers, hardware stores, contractors, horticulture, construction among others. CFAO Mobility Managing Director, Arvinder Reel commented, “Transport and logistics costs in Kenya remain relatively high, driven largely by rising maintenance and fuel expenses leading to shrinking profit margins for businesses. Today, we deliver an unmatched value proposition as these trucks will deliver the best value in higher return on investment for your business.” “CFAO Mobility has consistently demonstrated a customer-centric approach by actively listening to feedback and delivering innovative solutions. This initiative aligns with both companies’ commitment to affordability, operational excellence, and improved service accessibility and customers can take advantage of its extensive branch network for spare parts and reliable after-sales support countrywide,” he added. CFAO Mobility, in partnership with Equity Bank, is making truck ownership more accessible to customers by offering up to 90% financing, a 60-month repayment period, a 60-day moratorium, and working capital of up to KShs 1 million. In addition, to further enhance value, the first 200 customers will receive a 1-year or 50,000 km free service package, underscoring CFAO Mobility’s strong after-sales commitment. Customers will also benefit from free driving training, ensuring the motorists are well-equipped to operate the vehicles safely and efficiently. Recently, Sinotruk International and Kenya Vehicle Manufacturers (KVM) signed a Memorandum of Understanding that marked the beginning of a strategic collaboration aimed at boosting the local assembly of Sinotruk vehicles in Kenya. The move is to significantly reduce delivery times, improve product availability, and enhance aftersales support for customers across Kenya.

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The lender’s balance sheet also strengthened, with net loans and advances growing by 14 percent to Sh105.9 billion, supported by a 19.9 percent rise in customer deposits to Sh151.88 billion. “The year 2025 marked a pivotal start of our five-year strategic plan which is anchored on compelling customer propositions & digital transformation. We continued to invest in digital capabilities and optimization of our distribution network to enhance customer experience and improve our product offering, positioning the Bank for sustainable growth,” said Family Bank CEO Nancy Njau. “Our continued investments in our employees through capacity building and enabling work environment greatly contributed to the good performance. Partnerships with Development Finance Institutions strengthened our capacity to lend to key sectors such as SMEs, agribusiness and manufacturing, contributing to the expansion of our loan book,” she said

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“This performance demonstrates the impact of the strategic efficiency measures we implemented across the business, which have enabled significant cost savings. Maintaining these efficiency levels will remain a priority going forward,” said acting Chief Executive Officer Dominic Murage. “Small and Medium Enterprises (SMEs) remain central to our business model and portfolio, and we intend to deepen our support for them. Additionally, as a government-owned institution, we are uniquely positioned to support public sector financing needs. We aim to strengthen our collaboration with government agencies, parastatals, universities and ministries to position Consolidated Bank as the preferred banking partner for the public sector,” he added. The bank’s total assets grew by 11 percent to Sh19.5 billion from Sh17.5 billion in 2024, driven largely by a 29 percent increase in investments in government securities to Sh8.2 billion from Sh6.4 billion.

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Industry players say limited access to timely financing has remained a major bottleneck in the sector, often disrupting supply chains and leading to post-harvest losses, especially for perishable goods. FPCK estimates the fresh produce sector currently supports more than three million livelihoods, with potential to scale further if structural challenges such as access to credit are addressed. Analysts note that such solutions could improve efficiency in agricultural value chains, reduce reliance on expensive informal credit and support expansion of Kenya’s horticulture exports.

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MKU launches Kes20 Million hotel

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