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Mombasa’s Plaza Beach Hotel targets domestic clientele for Easter holidays : The Standard

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Plaza Beach Hotel General Manager, Mr Denis Gwaro. (Gideon Maundu, Standard).

Mombasa County boutique resort, Plaza Beach Hotel is gearing up for Easter festivals with its target market being domestic tourists.

Speaking to The Standard in Mombasa, Plaza Beach Hotel General Manager, Mr Denis Gwaro said that they are banking on renewed interests by locals to travel and hope to reap big from local occupancy in their hotel.
He said that they will be taking part in the annual Sarit Holiday Expo slated for March 27-March 31 in Nairobi to market their Easter Holiday packages and the year along offers that the 3-star facility has.
Apart from the local market which the GM stated always accounts for close to 60 per cent of its occupancies, the hotel has been recording a steady increase in tourists from the larger East Africa region including Ethiopia, Djibouti and South Sudan.

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”We are heavy on online marketing and have developed a solid base with guests booking through the various online platforms. At the moment, we are also in discussion with low cost carrier Silverstone Air for airline/ hotel packages,” he said.
He added that apart from guests arriving via air, they have also been recording increased visitors on weekends who use the Madaraka Express via the Standard Gauge Railway (SGR).
The GM said that already they are fine tuning the Easter Holiday programme to entice guests who will be staying with them over the Easter festivities.
”Our animation team is coming with an all-inclusive programme that caters for the entire family .We promise to give the best to all those who choose to stay with us during the Easter period,” he said.
Other events that the hotel can hold include team building activities as well as host holidays for honeymooners where they have tailor made packages that the GM said are pocket friendly.

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SEE ALSO :Huduma Namba database to contain citizenship details

The GM said that they have added a fourth conference wing at their facility to cater for the mainly executive board meetings with a capacity of 10 delegates.
” This additional facility is for the much smaller groups of upto 10 delegates .We have the other three conference halls with a combined capacity to take up to 130 conference delegates here at our hotel,” the GM said.
He said that, however, they have not been able to attract more conference business this year from the month of January to March as compared to last year, same period.

MombasaPlaza Beach HotelEaster festivalsTourism



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World Bank pushes G-20 to extend debt relief to 2021

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World Bank Group President David Malpass has urged the Group of 20 rich countries to extend the time frame of the Debt Service Suspension Initiative(DSSI) through the end of 2021, calling it one of the key factors in strengthening global recovery.

“I urge you to extend the time frame of the DSSI through the end of 2021 and commit to giving the initiative as broad a scope as possible,” said Malpass.

He made these remarks at last week’s virtual G20 Finance Ministers and Central Bank Governors Meeting.

The World Bank Chief said the COVID-19 pandemic has triggered the deepest global recession in decades and what may turn out to be one of the most unequal in terms of impact.

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People in developing countries are particularly hard hit by capital outflows, declines in remittances, the collapse of informal labor markets, and social safety nets that are much less robust than in the advanced economies.

For the poorest countries, poverty is rising rapidly, median incomes are falling and growth is deeply negative.

Debt burdens, already unsustainable for many countries, are rising to crisis levels.

“The situation in developing countries is increasingly desperate. Time is short. We need to take action quickly on debt suspension, debt reduction, debt resolution mechanisms and debt transparency,” said Malpass.

ALSO READ:Global Economy Plunges into Worst Recession – World Bank

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Kenya’s Central Bank Drafts New Laws to Regulate Non-Bank Digital Loans

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The Central Bank of Kenya (CBK) will regulate interest rates charged on mobile loans by digital lending platforms if amendments on the Central bank of Kenya Act pass to law. The amendments will require digital lenders to seek approval from CBK before launching new products or changing interest rates on loans among other charges, just like commercial banks.

“The principal objective of this bill is to amend the Central bank of Kenya Act to regulate the conduct of providers of digital financial products and services,” reads a notice on the bill. “CBK will have an obligation of ensuring that there is fair and non-discriminatory marketplace access to credit.”

According to Business Daily, the legislation will also enable the Central Bank to monitor non-performing loans, capping the limit at not twice the amount of the defaulted loan while protecting consumers from predatory lending by digital loan platforms.

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Tighter Reins on Platforms for Mobile Loans

The legislation will boost efforts to protect customers, building upon a previous gazette notice that blocked lenders from blacklisting non-performing loans below Ksh 1000. The CBK also withdrew submissions of unregulated mobile loan platforms into Credit Reference Bureau. The withdrawal came after complaints of misuse over data in the Credit Information Sharing (CIS) System available for lenders.

Last year, Kenya had over 49 platforms providing mobile loans, taking advantage of regulation gaps to charge obscene rates as high as 150% a year. While most platforms allow borrowers to prepay within a month, creditors still pay the full amount plus interest.

Amendments in the CBK Act will help shield consumers from high-interest rates as well as offer transparency on terms of digital loans.

SEE ALSO: Central Bank Unveils Measures to Tame Unregulated Digital Lenders

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Scope Markets Kenya customers to have instant access to global financial markets

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NAIROBI, Kenya, Jul 20 – Clients trading through the Scope Markets Kenya trading platform will get instant access to global financial markets and wider investment options. 

This follows the launch of a new Scope Markets app, available on both the Google PlayStore and IOS Apple Store.

The Scope Markets app offers clients over 500 investment opportunities across global financial markets.

The Scope Markets app has a brand new user interface that is very user friendly, following feedback from customers.

The application offers real-time quotes; newsfeeds; research facilities, and a chat feature which enables a customer to make direct contact with the Customer Service Team during trading days (Monday to Friday).

The platform also offers an enhanced client interface including catering for those who trade at night.

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The client will get instant access to several asset classes in the global financial markets including; Single Stocks CFDs (US, UK, EU) such as Facebook, Amazon, Apple, Netflix and Google, BP, Carrefour;  Indices (Nasdaq, FTSE UK), Metals (Gold, Silver); Currencies (60+ Pairs), Commodities (Oil, Natural Gas).

The launch is part of Scope Markets Kenya strategy of enriching the customer experience while offering clients access to global trading opportunities.

Scope Markets Kenya CEO, Kevin Ng’ang’a observed, “the Sope Markets app is very easy to use especially when executing trades. Customers are at the heart of everything we do. We designed the Scope Markets app with the customer experience in mind as we seek to respond to feedback from our customers.”

He added that enhancing the client experience builds upon the robust trading platform, Meta Trader 5, unveiled in 2019, enabling Scope Markets Kenya to broaden the asset classes available on the trading platform.

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