WEEKEND EDITION, APRIL 29-MAY 1, 2016 | www.x254.co
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Intrigues that ruined the gender rule bill
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NEWS Liverpool suffer pain in spain as Villarreal strike at the death
Court blocks Cord protests against IEBC
Justice Isaac Lenaola who has issued the orders barring Cord from storming IEBC offices.
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he High Court has today issued and order barring Cord leaders and their supporters from storming the offices of the Independent Electoral and Boundaries Commission (IEBC). Cord leaders Raila Odinga, Kalonzo Musyoka and Moses Wetangula have asked their supporters to storm IEBC offices countrywide in protests to force out the poll agency’s commissioners whom they say are not fit to handle next year’s general election. But Justice Isaac Lenaola has issued an injunction on the planned marches and ordered that it waits for the determination of a case filed
by five Jubilee MPs. Through their lawyer Harrison Kinyanjui, MPs Moses Kuria (Gatundu South), Ferdinand Waititu (Kabete), Dennis Waweru (Dagorreti South), Alice Ng’ang’a (Thika Town) and Nd’ungu Githinji (Tetu) had moved to court seeking to have the protests blocked and the Cord leaders charged with treason. “They have threatened to incite Kenyans to boycott the 2017 general elections and to storm the IEBC offices every Monday to push for the resignation of the commissioners,” they told the court. CONTINUED ON PAGE 2
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NEWS
Intrigues that ruined gender Bill day WEEKEND EDITION, APRIL 29-MAY 1, 2016
A text message sent to male members of the national Assembly by the Federation of Women Lawyers (Fida) is said to be behind the apathy that characterized the voting for the Gender Bill on Wednesday leading to its eventual failure. Turkana South MP James Lomenen said MPs felt threatened to pass the Bill and as such, retaliated by failing to vote for it. According to the lawmaker, Fida sent out a ‘threatening’ SMS to all male MPs telling them to vote for the Bill. But the legislators found the short text to be in bad taste and decided to hit back by refusing to pass the landmark Bill. Lomenen said the message was in bad taste and it ‘spoilt everything’. “It was not good to send such a message to MPs for some felt that they were being threatened. We therefore reacted in the negative,” Lomenen said. Sirisia MP John Waluke said the text was in bad faith, ill intended and unfriendly to members. “It was like they were commanding us that we are watching you; make sure you pass this bill. Some of us can’t go that route” he said.
MP James Lomenen
Waluke, who was among the list of male MPs who refused to vote or failed to register their abstinence, said they did so to ‘teach the women some lesson’. Even though the MPs declined to share the said message, X News managed to get the SMS that angered the lawmakers. “Dear Hon. MP, the constitution amendment bill No. 4 is coming up for voting on Wednesday 27th April, 2016. Please note that voting for constitutional bill is public. We will be watching and counting on you to vote
MP John Waluke
for the bill. Thank you,” read the text from FIDA. Meru Women Representative Florence Kajuju reprimanded the Federation for context of the text and asked FIDA to leave the lobbying to women parliamentarians while they join in prayers. “Am telling (FIDA) to leave the lobbying to the parliamentarians especially women MPs and let them join us in prayers to pass this important Bill,” she said. But while the lobbying was on, a
Majority Leader Aden Duale
counter lobbying for the rejection of the bill was also going on silently. Homabay Town’s Peter Kaluma said the Bill was also rejected due to the impact it would have on the wage bill with more parliamentary seats. He also said there was silent lobbying from House majority Leader Aden Duale to have the Bill shot down. “The majority leader Aden Duale is silently lobbying members to reject this Bill. I want to say this without any fear of contradiction, we will reject the bill and use it as a negotiation tool for
the Jubilee to listen to us,” Kaluma told XNews at Parliament buildings. He alleged that as much as they would want to push for the passage of the Bill, there was no goodwill from the side of government. “This gender rule is not just practical lets be real on our action…it can’t just happen,” a Jubilee MP who requested anonymity said. Instead, the MP proposed that current Women Representative go for competitive constituency seats and leave the county seats for a new group as one of the ways of increasing women representatives in Parliament. “Let the current Women representatives all of them go and campaign even if only 15 are elected we will have made a step but forcing the election of women down the throat of electorates cannot just work,” he said. “They now know how politics works, what to do and what not to do, they should therefore believe in themselves and approach voters. Any number elected even if it’s only 15 we will have made a step,” he said. sam_x254
Senators vow to put Governors under the microscope ahead 2017 elections
Cord leaders protest outside IEBC headquarters in Nairobi last Monday. The High Court has today issued orders barring such protests.
Court issues orders blocking Cord protests against IEBC From Page 1 They argued that the actions by the opposition leaders amounted to violation of the constitution. ‘I direct that the planned protests be stopped until this case is heard,” Justice Lenaola ordered. Lenaola directed the lawyer to serve the opposition leaders with the court order pending the full hearing of the petition on Thursday next week. The MPs are also seeking orders to allow the Inspector General of Police arrest the Cord leaders in what they claim would guarantee security to the public. Cord has accused IEBC commissioners of incompetence and want them replaced before the 2017 polls.
The opposition say the poll chiefs cannot guarantee free and fair elections. On Monday, they organised a protest to eject the commissioners from office by their attempts to storm the poll agency’s headquarters at Anniversary Towers were thwarted after police teargassed the leaders and their supporters forcing them to flee. While pronouncing himself on the matter, President Uhuru Kenyatta urged the opposition to follow the legal process if they want to remove the IEBC commissioners from office. Inspector General of Police Joseph Boinnet has already warned his officers attached to the VIPs as bodyguards to restrain and withdraw their services whenever their clients engage in hillary_x254 ‘unlawful activities’.
Fresh political battle pitting senators and governors is in the offing after the former vowed to monitor financial expenditure by the Governors in the last financial year before the 2017 General Election. The senators said they will summon the Council of Governors chairman to the Senate Public Accounts Committee to be grilled on the last queries raised by the Auditor General on financial expenditure. Senators have claimed the county bosses plan to use public money for campaigns and personal gain. Some of the senators who not willing to be mentioned said they will not leave anything to chance for the County Chiefs as the country approaches polls. “We will not allow any coin to be used by Governors for campaign, some Senators have declared interest in the same position and we will not allow governors to have an advantage over our counterparts using public resources,” said the Senator. Of concern to most senators who talked to XNews is that governors plan to use the money allocated to them for devolution purposes to muzzle those who want to challenge them. Kiambu Senator Kimani Wamatangi said Senators have raised their ‘antennae’ and will closely monitor how Governors spend public money as the country inches closer to elections. “We are not going to leave anything to chance, we are aware that some governors have already crafted campaign budgets running into billions of shillings, we are waiting to see where
they will get the money,” he said. The Kiambu Senators said the Senate will ensure prudent use of resources meant for devolution by Governors. Wamatangi said in the next two weeks, the Senate Public Accounts committee will summon Council of Governors to start seeking answers on some queries raised by the Auditor General in the last financial year. “I am not the chairman of PAC but just a member so I cannot divulged more information because it’s only the chairman who is allowed to speak on behalf of the committee, but I can assure that you will see Governors here in the next two weeks,” said Wamatangi. He said misuse of public resources was one of the reasons Senators did not attend the last devolution conference in Meru. “We skipped the last devolution conference because we realised such forums are not used to address the real issues of devolution but have been turned to marketing forums for Governors,” he said. Kakamega Senator Bonny Khalwale said governors have been notorious in authorising non-beneficial trainings and trips to Members of the County Assembly in a bid to rake in money. “No amount of public money will be used to campaign, take that from me senators will play their role like never before,” Khalwale said. Most of Senators have already declared their interest to be in the ballot for the position of Governor in the next poll setting an early political battle with the sitting Governors.
Some of the Senators already eying gubernatorial position include Boni Khalwale (Kakamega), Anyang’ Nyong’o (Kisumu), Kiraitu Murungi (Meru),Hassan Omar (Mombasa), Mutahi Kagwe (Nyeri),Chris Obure (Kisii) and Muruoki Karue (Nyandarua) among others. The position is seen as one of the most lucrative elective posts with billions allocated to them by the Commission for Revenue Allocation annually. Majority of Governors are already mobilising billions of shillings for their campaigns. The money is estimated to be between Sh500 million to Sh1 billion Also part of the elaborate plan is to cut down the number of foreign trips made by Members of the County Assembly as they are deemed non-beneficial and a waste of public money. “There is a lot of wastage down at the counties, some of the trips made by MCAs are just to get allowances,” said Vihiga Senator George Khaniri. Homa Bay Senator Moses Kajwang’ also said most of the trips by MCAs are just to maximise on allowances and not necessarily used for learning purposes,” Kajwang’ said. The Homa Bay Senator said there are a lot of things which can be learnt in the country and therefore he will support any motion cutting on the foreign trips by MCAs. West Pokot Senator John Lonyangapuo said all foreign trips should be stopped immediately. “Most MCAs now know more about Rwanda and other countries than Kenya, there are a lot of things which can be learnt locally,” he said.
NEWS 5
Uhuru to lead presidents in elephant summit WEEKEND EDITION, APRIL 29-MAY 1, 2016
African leaders are to meeting in Kenya to discuss how to save the continent’s elephants from extinction. The inaugural summit of the so-called Giants Club will be led by the Kenyan President Uhuru Kenyatta. As well as heads of state, the conservation group will bring together business leaders and scientists. Experts say Africa’s elephant population
has fallen by 90% over the past century and warn that the animal could be extinct within decades. Among those expected to attend the summit are Ugandan President Yoweri Museveni and President Ali Bongo from the west African nation of Gabon. Mr Kenyatta will host the two leaders at the Mount Kenya Safari Club for the summit in Nanyuki today.
After the summit, the three leaderts will set fire to nearly Kenya’s its entire confiscated stock of ivory, 105 tonnes, equivalent to the tusks of more than 6,700 elephants. The ivory has been piled into a dozen giant pyres, which will be lit by dignitaries at the summit. The mass burning which takes place tomorrow, will be seven times the size
of any stockpile destruction so far, and represents about 5% of global ivory stores. Some 1.35 tonnes of rhino horn will also be burned. The street value of the ivory destroyed is estimated at more than $100 million (about Sh10 billion), and the rhino horn at $80 million (some Sh8 billion). “We don’t believe there is any intrinsic
value in ivory, and therefore we’re going to burn all our stockpiles and demonstrate to the world that ivory is only valuable on elephants,” said Kitili Mbathi, director general of the Kenya Wildlife Service (KWS). Africa is home to between 450,000 to 500,000 elephants, but more than 30,000 are killed every year for their tusks.
CS dissolves all land board to clamp down on graft The government has dissolved all Land Control Boards across the Country to pave way for the appointment of new ones in the next two weeks. Land Cabinet Secretary Jacob Kaimenyi made the announcement when he addressed a press conference at his Ardhi House Office in Nairobi on Thursday. Prof Kaimenyi said the boards were dissolved on grounds of graft allegations alongside overstaying in office which is against the spirit of best practices in good corporate governance. The current Land Control Boards were established between 2009 and 2012 and as such, the CS argued that a number of members of them have served for a period in excess of six years. “In exercise of the powers conferred to me by Section 14 of the Land Control Act, I hereby dissolve all current Land Control Boards across the country and revoke the appointment of all Land Control Board Members,” he announced. The term of office for members of the new Land Control Boards shall be three years. “At the time of their appointment, tenure of office of the members was not specified” Kaimenyi said. The CS said there was need to
inject new element of freshness into the boards by appointing new members to eliminate cases of malpractices and lethargy. “There is need to inject some element of freshness into the boards by appointing new members to serve for a period of three years renewable once to eliminate cases of malpractices and exhaustion,” he added. “There have been serious allegations of corruption among board officials which include favoring well-connected members in the society who influence land decisions in their favor,” he said. Now, Prof Kaimenyi believes the dissolution of the boards will provide a platform for the ministry to streamline issuance of consents in land control areas. He said members of the dissolved boards had formed a habit of holding ‘non-existent’ special committee meetings in order to earn themselves unauthorized allowances. He has promised to work in collaboration with the Interior Ministry to ensure that the exercise of appointing new teams is completed within the next two weeks. However, the CS said interested candidates will have to comply with Chapter Six of the Constitution and also meet the two-thirds gender rule.
Youth Empowerment Youth Programme Empowerment PHASE 1
Programme
Why settle for the Believe that strength is ordinary, when you can measured in people be outstanding High impact interventions on The NYS Youth Empowerment Programme Phase I will be infrastructure development, water, re-launched by H.E. President Uhuru Kenyatta in Kisii County environment and sanitation , 2016. covering 72 constituencies countrywide on April 27 th
www.nys.go.ke
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NEWS WEEKEND EDITION, APRIL 29-MAY 1, 2016
NEWS 7 WEEKEND EDITION, APRIL 29-MAY 1, 2016
WEEKEnD EDITION, APRIL 29-MAY 1, 2016 | www.x254.co
BUSINESS
CBK EXCHANGE RATES 1 US DOLLAR 1 UK POUND 1 EURO 1 S.A RAND 1 KSH/USH 1 KSH/TSH
House prices surge despite real estate market stability The Kenya Bankers Association Housing Price Index (KBA-HPI), an indicator for developments in the real estate sector, has reflected an uptick in house prices in the country during the first quarter of 2016. The average house prices in Kenya increased by a modest 1.4 per cent during the first quarter of 2016 compared to a 1.14 per cent rise in the last quarter of 2015. While the market movement represents an increase in house prices, it depicts a sense of broad market stability given that such increases have been mild at best. This is confirmed by the evolution of the KBA-HPI which had risen by 9.08 percent at the end of the first quarter of 2016 since the first quarter of 2013. Despite the trend, the demand and supply market dynamics have not witnessed major changes over the period. The supply of housing units has been in response to the broad demand given that the new units being put up in the market are mainly targeting the middle end of the market, with the lower end experiencing supply constraints arising mainly from the tendency of developers inclining more towards renting than selling. Data from the report also show support of the financial sector and the banking industry towards home acquisition has been enabled by a generally stable macro-economic environment, with gradual opening up of new geographical
areas for housing development in response to physical infrastructure expansion, especially transport being witnessed. Similarly there has been a sense of taste consistency among home buyers. The limited change in reference characteristics during the first quarter of 2016 was reflected in the influencers of price movements remaining the size of the house (as measured by plinth area, number of bedroom, bathroom, and presence of domestic staff quarters).
Besides size, houses in gated communities are highly priced given the superior ambience associated with controlled development, security, privacy and scenic value. Similarly, proximity to social amenities such as shopping malls, tarmacked roads, schools, hospitals and presence of parking lot among others significantly contributed to price rise. According to KBA Director of Research and Policy Jared Osoro, the KBA-HPI regions are based on clustered price
MEAN 101.1817 147.2844 114.6867 6.9878 33.1088 21.7431
BUY SELL 101.1917 101.2718 147.1428 147.4261 114.5711 114.8022 6.97912 6.9964 33.02991 33.1877 21.6744 21.8119
Kurwitu reports Sh22 billion loss before taxation
ranges. “The indices for the apartments remained high and in an upward trend especially in the upper middle market segment. This is a reflection of the alignment of developments to effective demand by the middle income population. In essence this reflects the estate of market leaning away from the low end where there is evident supply deficit,” said Osoro. kevin_x254
Kenya Bankers Association chief executive Habil Olaka with Director of Research and Policy Jared Osoro during the release of the KBA Housing Price Index quarter findings at Hilton hotel.
Investment Company, Kurwitu Ventures Limited has posted a loss of Sh22.1 billion before tax for the Fiscal Year ended December 31, 2015. The company’s results, which were released just hours ago, indicate that the losses were incurred as a result of a steep jump in expenses, including staff, administrative and operational costs, as well as liabilities. Kurwitu’s total expenses rose to over Sh22.6 million from Sh8.1 million the previous year. Shareholder loans increased to Sh47.8 million from Sh12.8 million the previous year. The company reported a consolidated revenue of Sh815,487 (FY 2015). The announcement comes just as the number of publicly traded firms whose earnings dropped by more than 25 per cent last year reached 19, compared to 11 in 2014. Kurwitu last month announced that its losses for the 12 months through last December had deepened. The company is the only firm to offer Sharia-compliant investment products on the Nairobi Securities Exchange (NSE). The firm, which listed by introduction in November 2014, made a loss of Sh815,416 in 2013. Standard Chartered Bank, Mumias Sugar, Uchumi Supermarkets and Standard Group are among NSE-listed firms whose profit for 2015 dropped by more than 25 per cent. Kurwitu was incorporated on August 23, 2006. It was issued with a certificate of Incorporation on 8th September, 2006. Dennis_x254
KCB inks Sh50bn youth entrepreneurship deal Jambojet now sets up shop in Lamu Island in bid to boost sales Kenya Commercial Bank (KCB) has signed a Sh50 billion deal with various firms including media houses to scale up entrepreneurship, create jobs as well as equip youth with skills across the country. The deal will see KCB air a weekly television programme, seeking to help young people pitch their business ideas to a panel of five multimillionaires, who will evaluate them for the possibility of being funded. Dubbed “Lion’s Den”, the TV series is part of the Bank’s strategic move to push for the youth agenda in job creation and empowerment. KCB marketing and communications director Angela Mwirigi said, the initiative aimed at supporting the youth in the country. “We are proud to be part of this exciting phase as the youth increasingly take up greater sway in the revolution and pace of the economy in the coming years,’’ said Angela.
“As a Bank we are committed to ensuring youths realise their dreams through platforms that create enabling environment for these opportunities as they are the holders of greatest ideas, energetic and committed to realising their dreams,” she added. The Nation Broadcasting Division General Manager Linus Kaikai described the ‘Lion’s Den’ as ‘the ultimate milestone Kenya’s reality television had been longing for’. “We are truly delighted that ‘Lion’s Den’ will find a perfect home on NTV. To our viewers, here is the latest of the quality, entertaining and engaging programming you have always deserved,” he said. The series has been re-named for the local market in official affiliation with the American and UK versions of the show, ‘Shark Tank’ and ‘Dragon’s Den’. This TV format has successfully launched in over twenty countries globally and KCB is proud to be
bringing it into Kenyan homes in the next few months, the lender said. “We are greatly looking forward to making an exciting and world-class TV series that will have a significant impact in driving entrepreneurship in Kenya. We have been working with SPT to bring this TV format here for some time and QBF is delighted to be in collaboration with KCB and NTV to see the project come to life”, said Amber Prior, Executive Producer at QBF Kenya. According to Global Entrepreneurship Institute and Development 2015 report, Kenya will need to create more than 3.9 million new jobs for youths by 2020, an estimate based on its projected population growth. As a result, Kenya has become a focus of attention for international businesses looking to penetrate the emerging markets of East Africa. enock_x254
Low cost carrier, Jambojet has set up offices in Lamu Island to help travellers to and from the county book their tickets. The launch of the new offices comes barely a year after the carrier, a low cost subsidiary of Kenya Airways, launched its maiden flight to the coastal archipelago; a renowned tourism destination. Speaking during the opening of the shop, Jambojet chief executive Willem Hondius said the shops will ensure Lamu residents tourists visiting the island access tickets to Malindi and Nairobi on time. “Beyond just enabling our customers to fly affordably, we are keen on offering convenience through our various booking platforms. One should be able to access us on phone, but still be able to reach our teams in case of any travel concerns,” said Hondius. He said since the launch, the total number of passenger travelling to Lamu has went up by 71 per cent compared to the previous year. Lamu Governor Issa Timamy hailed the
move, adding that the new office is a big boost to Lamu tourism infrastructure. “As the county government, we continually encourage partnerships with private sector investors, to enable us package competitive bouquets for both domestic and international tourism.” Last year, Lamu County Government set aside Sh73 million to revive tourism sector in the region. This was a 95 per cent increment from the previous fiscal year coming after travel advisories from key global source markets over terror attacks in the region. Currently, Jambojet flies the Bombardier Dash-8 Q400 aircraft which carries 78 passengers on the Lamu route daily to and from Nairobi either outbound or inbound stops in Malindi. Jambojet, the low cost brand of Kenya Airways, operates on domestic routes from Nairobi to Mombasa, Eldoret, Kisumu, Lamu, Malindi and Ukunda (Diani). enock_x254
BUSINESS 9
FTG posts Sh259 million profit following acquisition deals
WEEKEND EDITION, APRIL 29-MAY 1, 2016
Manufacturing firm Flame Tree Group (FTG) has reported an 86 per cent jump in operating profit in its first full listed year to Sh259 million in 2015 from Sh139 million in 2014, thanks to acquisition deals. The group’s Full Year (FY) 2015 acquisitions were in the cosmetics and snacks sub-sectors. The first acquisition since listing was Chirag Kenya’s food and snacks brands: Natures Own, Chigs, Honeycomb and Gonuts. FTG manufacture plastics, cosmetics and food, as well as trading. The group made substantive capital investments in expanding its manufacturing capability and product lines which contributed to
75 per cent of the total revenue in 2015. The group also made Sh61.3 million in the disposal of property, plant and equipment. “In the face of increasing competition and a tough economic environment, we have made considerable progress in our strategic plans to generate an 86 per cent increase in our normalised operating profits. The acquisitions made in foods, snacks and cosmetics capped off FY 2015 really well for us,” said Flame Tree Group CEO, Heril Bangera. The company also acquired three haircare brands from Beauty Plus Trading East Africa – Miss Africa, Black
Angel and Beautyplus, and acquired Suzy Beauty for an undisclosed amount. The firm reported a 37 per cent increase in Earnings Per Share to Sh1.36 having paid Sh122,983,160 in dividends in 2014. “The addition of the new brands in FY 2015 doubled the size of the food portfolio, enabling cross-promotional opportunities for complementary brands and products. We’re really pleased with how the integration of the new brands has gone and we’re excited about the domestic food production category across the region,” added Bangera. Flame Tree Group has been realigning
and refocusing its product portfolio for its cosmetics category for both skin care and hair care. In January 2016, the company signed an agreement to acquire SuzieBeauty line of colour cosmetics brand. The acquisition of SuzieBeauty served to diversify FTG’s products and positions the group as a key player in the niche colour cosmetics prestige segment. FTG is a group of companies operating in Kenya, Rwanda, Ethiopia, Mozambique, DRC, Burundi and Sudan. It is the largest manufacturer of plastic water tanks in East Africa and one of the largest in Africa.
BIZ BRIEFS
NIC Bank opens new branch in Kitengela
NIC Bank Group has opened a new branch in Kitengela, Kajiado County as part of its ongoing expansion plan to reach more retail customers and grow its SME business. The lender said the new branch will offer a full array of financial products and services to target the growing business community in Kitengela and surrounding areas, as well as reach potential customers in the wider Kajiado County. The NIC Kitengela office will be the bank’s 29th branch and is located in Zulu House, along Namanga Road. The bank is looking to tap into the increasing commercial activity in Kitengela Town which has been driven by small and medium enterprises (SMEs) setting up shop in the town and surrounding areas. Group managing director John Gachora hailed the Bank’s strategy to shift focus towards the Retail and SME segment.
Mohamed to head Tanzania Barclays
Flame Tree Group CEO Heril Bangera with Founder of SuzieBeauty Suzie Wokabi. The firm has posted good financial tidings.
Bank targets property market through business diversification East Africa’s financial services provider, KCB will launch its annual property bus tour on Saturday, April 30, in Nairobi. The launch will see the bank set its focus on low cost housing through business lines diversification. KCB Mortgage Director Sam Muturi, said the bank is keen to tap into the rising demand for affordable housing by raising cheap offshore seed funds and leveraging on modern technology to help pass pricing benefits to the mortgage end buyer. The move is part of its holding arm’s long term vision to expand its offering by actively participating in the lucrative property development market. To support these efforts, KCB has plans in place to launch the Property Center in June, which will host its construction arm. “We are ready to broaden our wings to the existing opportunities to house the majority of Kenyans who feel left by the high cost of housing. The bank will also continue to leverage on partnerships with like-minded corporations both locally and internationally to ensure
we address the issue of cost of housing”, added Muturi. In February this year, KCB led a delegation of 30 East African developers to a successful Brazil property tour aimed to broaden business scope and also exposed them to modern architectural designs which they will transfer to Kenya. The new technologies will help build houses priced at Sh1 million to Sh3 million catering for the deficit in housing. According to the latest housing price index from the Kenya Bankers’ Association, released at the end of January, average housing prices edged up by just 1.14% in the last three months of 2015. This year, real estate investors are likely to ride on the growing demand for residential and commercial developments in the country, thanks to urbanization and growth of the middleclass. KCB has other initiatives to help boost their book and offer an enhanced product proposition. These efforts has seen the lender partner with Chloride
Exide, East African Cables, and Crown Paints aiding customers’ to access building accessories at discounted prices. The Nairobi Property Tour will be
flagged of at KICC Comesa ground from 7:00 am. Potential customers will be able to view houses and land readily available for sale. kevin_x254
Caption KCB Chief Executive Joshua Oigara.
Barclays Africa has announced the appointment of Abdi Mohamed as the new Managing Director for the lender’s Tanzania operations, effective April 2016. Mohamed will be taking over from Kihara Maina, who after serving in the role since 2009 will now be pursuing other opportunities outside the Barclays Africa Group. Until now, Mohamed has been Chief Operating Officer at Barclays Bank Kenya. Barclays Africa Regional Management Chief Executive Mizinga Melu said, Abdi brings to the role wide-ranging experience across markets and product areas including retail, corporate banking and operations. Commenting on the appointment, Barclays Bank Tanzania Chairman Dr. Ramadhan K. Dau said his appointment will drive the firm in executing its growth strategy.
KQ Pilots call off strike after deal Kenya Airways (KQ) pilots yesterday called off a strike after the carrier met some of their demands, the Kenya Airline Pilots Association (KALPA) has confirmed. The Association added that they would fully resume work on Friday. KALPA’s members began their strike yesterday to push for the removal of the airline’s chief executive, prompting Kenya Airways to cancel all but two of its evening flights. Overall, delays and cancellations affected 10 flights. In a statement, Kenya Airways said it regretted the inconvenience caused to its clients, saying it is working to normalise the situation. KAPLA, which consists of more than 400 pilots blamed Nguze for a number of issues including gross management, costly agreements signed with travel agents and the sale of aircrafts at throw away prices.
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BUSINESS WEEKEND EDITION, APRIL 29-MAY 1, 2016
KAM signs deal with USAID-funded agency to boost trade, investment The Kenya Association of Manufacturers (KAM) has signed a deal with the East Africa Trade and Investment Hub (The Hub), a US Agency for International Development (USAID)-funded organisation, to promote trade and investment. The deal also seeks to support policy reform activities and the expansion of trading avenues especially under the African Growth and Opportunity Act (AGOA). AGOA is a United States Trade Act, enacted on May 18, 2000. The legislation significantly enhances market access to the US for qualifying Sub-Saharan African (SSA) countries. Under the agreement, KAM will organise and host trade delegations, as well as policy and investment promotion activities that will attract investment. The agreement is set to provide much needed support in various sectors, including the textile and, leather, agroprocessing, horticulture, ICT and cotton industries. “AGOA offers great opportunities for our local businesses especially the SMEs. It is essential that we build their capacity to enable them leverage this partnership to realise financial sustainability for their businesses. Beyond this we are also looking to diversify our exports through this partnership and inacrease the competitiveness of various agricultural value chains,” said KAM Chief
Kenya Association of Manufacturers (KAM) chief executive Phyllis Wakiaga during a meeting with members of the East African Legislative Assembly (EALA). KAM has partnered with The Hub to boost local investment. Executive Officer Phyllis Wakiaga. Wakiaga said the country must work towards expanding the range of products that are currently being
Volkswagen bosses to receive Sh7.2 billion despite record losses Volkswagen is set to pay a dozen current and former senior managers a total of about Sh7.2 billion for 2015, despite reporting record annual losses following its emissions scandal. The carmaker said it would withhold a portion of its bonus payments for now, but could award them at a later date. Last year VW admitted to cheating on diesel emissions tests - trials used to reduce the amount of pollution their vehicles emit - with net losses for 2015 reaching Sh633 billion. Chief executive Matthias Mueller has since been apologising for the firm’s actions. At a press conference, he acknowledged that the carmaker “disappointed many people who trusted Volkswagen”. Mueller has been promised a 2015 pay package of Sh547 million, of which Sh101.3 million has been postponed. Meanwhile former chief executive
Martin Winterkorn, who resigned in the wake of the scandal, agreed to delay 30 per cent of his variable pay but will still collect a total of Sh840 million. The German company has set aside €16.2bn to pay costs associated with the scandal, almost half of which is devoted to buying back or repairing diesel cars that possess the emissions cheating software. Mueller said that the recall process would be the company’s “most important task until the very last vehicle has been put in order”. Earlier this week, Volkswagen said it was postponing a recall plan for tens of thousands of Passat models in Germany, while it waited for the repair process to be approved by regulators. The company has previously failed to win approval for a recall of its Golf models, as it struggles to fix 8.5 million vehicles in Europe alone.
exported to US market under AGOA. “We must go beyond the apparel export and strategise ways that we can explore the gains of approximately 6400
products that are currently eligible for AGOA.” The Hub’s Chief of Party Juan EstradaValle said the agreement comes at an
opportune moment, following President Obama’s signing of the Preferences Bill in September to law thereby extending AGOA to 2025. “African economic operators must now work towards addressing the underlying challenges that have prevented them in the last 15 years from seizing the opportunity to realise better business with US,” said Estrada-Valle. Over the years, AGOA has accorded duty-free access for eligible products to the largest single market in the world. It has also provided Kenya with a significant competitive advantage over non-AGOA countries that must pay normal tariff rates to enter the US. This is particularly true with respect to products that have high US tariff rates in many instances, such as apparel, footwear and agricultural products. The programme will promote export diversification in AGOA countries through its provision of duty-free and quota-free benefits to virtually all products. As a result, Kenya has expanded regional integration, productionsharing as well as job creation and its economic growth. Kenya has benefited from AGOA through textiles, spices, coffee, tea, fruits and nuts exports. The textile and apparel industry has reaped significant benefits through AGOA and contributes 85 per cent of the jobs created in the export processing zones (EPZ).
Facebook CEO to channel his vast wealth to curb diseases globally Facebook founder and CEO, Mark Zuckerberg has said he wants to use his wealth to help eradicate all diseases by the end of this century. Zuckerberg (pictured) and his wife Priscilla Chan, worth almost $50 billion (Sh5.1 trillion), plan to give away 99 per cent of their fortune to philanthropic efforts over their lifetime, an ambition that mirrors the efforts of Bill Gates, the world’s richest man. In a letter to Facebook shareholders on Wednesday night, Zuckerberg said one of his goals was to help cure all diseases, The Telegraph reports. “While helping to connect the world will always be the most important thing I do, there are more global challenges that I feel a responsibility to help solve, like curing all diseases by the end of this century, upgrading
our education system so it’s personalised for each student and protecting our environment from climate change,” he said. “That’s why Priscilla and I created the Chan Zuckerberg Initiative and committed to give 99 per cent of our Facebook shares during our lives to advance human potential and promote equality,” he added. Zuckerberg and Chan announced that they would give away their fortune earlier this year when their first child Max was born. As well as medical research they plan to help improve education and fund clean energy. The Facebook founder, 31, made the announcement as Facebook said it would restructure its shares so that Zuckerberg could sell much of his stake without relinquishing his control of the company.
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Uhuru rewards 7s team with Sh10 million WEEKEND EDITION, APRIL 29-MAY 1, 2016
President Uhuru Kenyatta has rewarded the Kenya Sevens team with Sh10 million after their conquest at the eighth leg of the HSBC World Series in Singapore where they won the main cup for the first time ever after a 17-year wait. While congratulating the team for the feat and announcing the Sh10 million reward, Mr Kenyatta also directed the union and sponsors Kenya Airways to ensure the players are paid all their pending dues. He also promised to support the team in their remaining tours as well as towards the Olympics. “We shall also ensure that all their dues even from some of parastatals who have been supporting them, but wameanza kuregarega they will get what is rightfully theirs because you have given what is rightfully ours by making us proud and putting us on the world map,” President Kenyatta said. He received the team at State House where they addressed the press and thereafter had a private dinner together. There was a light moment when Sevens head coach Benjamin Ayimba requested the President to turn back the hand of time to his rugby playing days at St. Mary’s High School and do a dummy line out with the players. Though he appeared uneasy on the first attempt, he finally agreed upon convincing from Ayimba and the Head of State was perhaps consoled by the strong arms of captain Andrew Amonde and utility Willy
Ambaka who lifted him for the line out with vice captain Collins Injera throwing. The President received a thunderous applause from the players and guests after successfully plucking the ball off the air and offloading it to the Sports, Arts and Culture Cabinet Secretary Hassan Wario. In his address, the President congratulated the team for their efforts in Singapore and expressed confidence they would take the form to the Olympic Games in Rio de Janeiro in August. “Mine is just to congratulate you to say on behalf of all Kenyans that we are grateful for what you’ve done. Truly and I think I speak on behalf of many millions of Kenyans who last Sunday watched this most dramatic final; what has been happening in the past with all other tournaments, some of us had begun to lose hope,” President Kenyatta told the boys as he addressed them at State House. “When we saw Saturday happen then we saw ourselves on Sunday, some of us were not ready to believe it, but it was beyond doubt that it was a beautiful Sunday for all Kenyans. I thank these lads for the brilliant work they have done,” President Kenyatta added. The team was accompanied by officials from the Kenya Rugby Union, ministry officials, sponsors and other dignitaries. MORE ON THIS STORY www.capitalfm.co.ke
President Uhuru Kenyatta does a dummy line-out with Rugby Sevens Players at State House, Nairobi when he hosted them for dinner yesterday. The president rewarded the team with Sh10 million.
SPORT 15 WEEKEND EDITION, APRIL 29-MAY 1, 2016
Villarreal take control of Liverpool tie
Liverpool’s ambitions of reaching their first European final in almost a decade suffered a blow as Villarreal netted an injury-time winner in their first leg tie of the Europa semi-finals last night. After a first half of few chances, Cedric Bakambu’s header clipped the Reds upright shortly after the break. Liverpool went closest when Roberto Firmino’s low shot hit the post. The Reds looked set for a creditable draw in Spain until they switched off to allow substitute Adrian Lopez to tap in Denis Suarez’s low cross. Despite the dramatic winner, the Europa League semi-final still remains delicately poised before next Thursday’s return leg at Anfield. The winners will face either Spanish holders Sevilla or Ukrainian side Shakhtar Donetsk, who drew 2-2 in their first leg, in the Swiss city of Basel on 18 May. Liverpool have not reached a European final since losing to AC Milan in the 2007 Champions League showpiece, but a stoic display at La Liga’s fourth-placed team looked set to leave them a home win away from ending that barren run. However, the Premier League side lost their defensive discipline in the final few seconds - and it could prove crucial.
Left-back Alberto Moreno wandered up field, leaving the space for former Manchester City youngster Suarez to exploit before squaring to Lopez for the easiest of finishes. “If we had enough players around the box it was no problem but they played this one chip ball over Kolo (Toure), I don’t know where Alberto (Moreno) was in this moment but that was the only big mistake we made in this game and they scored with it,” Liverpool boss Klopp observed. “Of course I’m not too happy with the goal we conceded in the last second. Counterattacking in the 92nd minute makes not much sense - but it is only the first leg. It is 1-0 and they have to come to Anfield where we know how strong we are. We had our moments, we defended really good. This race is not over,” he added. Liverpool will have to score at least twice to go through in 90 minutes at Anfield, but Villarreal know an away goal would mean the Reds then need a minimum of three. “Until the final whistle you can score or concede a goal and this time we were lucky enough to score in the very last minute. We managed a good result but we don’t know if it will be enough or not until the end of the tie,” Villarreal manager
Marcelino said. Jurgen Klopp’s Liverpool side were installed as favourites to win Europe’s secondary club competition after their thrilling quarter-final win against Bundesliga club Borussia Dortmund. Publicly the 48-year-old German insists there has been no thought about the possibility of reaching the final - but winning the trophy will cap an encouraging debut season with a place in next season’s Champions League. His predecessor, Brendan Rodgers, named an inexperienced side in the Reds’ opening two matches in the competition, but Klopp has chosen stronger teams since arriving in early October. However, he decided to play without a recognised striker at Villarreal, leaving England international Daniel Sturridge on the bench throughout - and the Reds offered little attacking threat. Wales midfielder Joe Allen wasted the best chance in a tight first half, sidefooting straight at home keeper Sergio Asenjo early on. Further opportunities were rare, although Brazil forward Firmino - playing as Liverpool’s most advanced player thumped an angled 12-yard drive against the base of the right post.
Adrian Lopez of Villarreal salutes fans at the end of their UEFA Europa League semi-final first leg against Liverpool at the El Madrigal stadium in Spain. Lopez scored the only goal of the match in stoppage time to gift his side a slender 1-0 lead going into next week’s second leg at Liverpool. PHOTO: JUAN CARLOS CARDENA/EPA