Top 11 moments that shaped the business landscape in 2015

2015 has been a good year, especially if you are among the 90 workers of Centum Investment Limited. No! It has been a bad year with consumers being hit with a new excise duty. But exactly which colour was 2015 business landscape?

1. Low oil prices
Oil prices across the globe have been low. This has been welcome news for many Kenyans especially that this is a basic commodity. A barrel of oil sunk to as low as $40 (Sh4,093) as compared to November 2014 when the price stood at $76.99 (Sh7,878).
This is a 44 per cent drop meaning that households and industries' budget on diesel, super petrol and kerosene went down. With Organization of Petroleum Exporting Countries' meeting early this month ending in acrimony after members failed to agree on output targets, 2016 prices may be no different.
But many Kenyans feel the drop has not matched the decline in oil.

2. Federal reserve rate hike
After nearly a decade, Federal Reserve- the central bank to the world's largest economy- decided to raise the interest rate. One can brush it off, after all a quarter of one per cent (0.25) is just a small notch. But when America stirs, the rest of the world must notice.
Janet Yellen's decision to raise interest rates since 2006 is likely to strengthen the dollar and cause pain for countries and companies that have borrowed in dollars. Servicing their debt may become expensive. Kenya is set to make its first interest payment of Eurobond this month.

3. New 2015 Excise Duty Act
Forget the word 'new' because new is not always good. The Excise Duty Act that came into effect this month is determined to get enough coins from consumers to help government net Sh28.44 billion in revenue.
Importing vehicles older than three years will require a levy of Sh200, 000 which is a departure from the current rate of 20 per cent of the car's price.
Consumers of beer must be ready for the new "sin tax". For every litre of beer, manufacturers will be taxed Sh100. This extra burden will be passed to the consumer.
But even consumers of fruit and vegetable juices will also feel it since every litre will attract Sh10 in taxes.
When announcing new oil prices that will serve till mid-January next year, Energy Regulatory Commission noted that the oil escaped these taxes. Oil prices may rise next year.

4. Orange exits market, Safaricom Soars
It has been a stormy and slippery journey for Orange since it started its expedition in Kenya eight years ago.
Having bled enough and its financial muscles weakened the telecom which was supposed to muscle Safaricom, the market leader, decided to let it go.
It's 70 per cent stake in Telecom Kenya will change hands and be under Helios Investment Partners.
It is a case of same script, but different cast as Orange exit comes a year after Ruia brothers — Shri Shashi and Ravi Ruia - sold yuMobile. Twice this year, Airtel has threatened to leave Kenyan market, it should not be next year.

5. Equitel starts operations in Kenya, to rival Mpesa
Orange could not catch up with Safaricom and twice, Airtel, the closest rival has threatened to quit over dominance debate.
Yet Equity Kenya is ready to cause shock waves to Safaricom's market dominance. This year, in July, the bank launched Equitel, a mobile money transfer service, to rival Safaricom.
Equity started as a savings society but it is now the biggest in the East African in terms of depositors. Should it be a reason for Safaricom to get worried?

6. Centum investment's Sh11.1 million bonus per employee
This has been a gloomy year and many companies have issued profit warnings. But Centum, an investment firm, defied that and allotted each of the 90 employees a Sh11.1 million in bonuses.
This is the largest in corporate Kenya. And the story was even more enticing for the 10 executives: Each was apportioned Sh34 million each.
All this was in the name of celebrating a 160 per cent increase in profits to Sh7.9bn for the financial year ended 31 March.
Sadly, according to the firm's website, there are no vacancies now.

7. Digital migration intrigues
It was thought to be a prank or just another threat from the government but at the end of it all, Kenya migrated to Digital transmission and the name Francis Wangusi (CA Director General) received friends and foes in equal measure.
In February, Kenya Television Network (KTN), NTV, Citizen and QTV were switched off (or switched themselves off, a version for friends of Wangusi). This was because of the debate on when and how the process should have been done.
After, 18 days of protracted discussions and strained relationships, the four stations returned on air on March 5, transmitting on digital platform.

8. Sh5 billion M-Akiba bond targeting ordinary Kenyan
Initially supposed to be launched in October, the issue of the debut income tax free bond but the government postponed it saying it is assessing the market environment before it floats it.
But the mention that it is to be traded exclusively on mobile platform caused a feeling of ordinary Kenyan involvement. The provision for individuals to bid with as little as Sh3, 000 and a maximum of Sh140,000 makes it within reach.

The bond has lean requirements since potential investors will only need a mobile phone. It will be the duty of telecoms to open an electronic account with the Central Depository and Settlement Corporation (CDSC) on the customer's behalf. It may be one of the potential areas to invest in 2016.

9. CBK gets new governor as shilling soars above100 mark

After eight years at the helm of Central Bank of Kenya, Njoroge Ndung'u paved way for Dr Patrick Njoroge at a time when the shilling was being battered.

A former advisor to the International Monetary Fund (IMF), Njoroge send many in shock after refusing juicy perks that could have live seen him live in an expansive home in Nairobi's Muthaiga and ride in a motorcade.
The humble man's attempt to save the shilling proved futile as it hit a fresh three year low, crossing the 100 mark against US dollar, a scenario last witnessed in October 2011.

10. Kenya Power lowers connection fee by 57 per cent

In May, President Uhuru Kenyatta announced that the government had reduced electricity connection fees from Sh35, 000 to Sh15, 000 in bid to increase access to grid.

In a country where rural electrification program is quickly taking shape, the announcement was timely and with potential to spur development. And the option that those who cannot pay the fee at once can do so in installments made the deal even better.