Chelsea boss Jose Mourinho says the struggling champions will stick to their back-to-basics approach after a hard-fought win over Aston Villa.
Read More here >> News24
Monday, October 19, 2015
Nairobi hotels reap big from conference tourism
Located along Karuna Road in Westlands, the hotel whose bed capacity is almost one hundred, benefited greatly from Obama’s visit for two reasons. First, its proximity to the UN headquarters in Gigiri and second, its proximity to the city centre.
NAIROBI, Kenya, Oct 19 – President Barack Obama may have been in the country for only forty eight hours over two months ago, but some businesses are still reaping the benefits of his visit, especially those in the hospitality industry.
Bidwood Suites hotel in Westlands is one of those businesses.
“Before President Obama’s visit, business at the hotel was not very good. We had less than 50 percent occupancy. However, when he touched down in Nairobi, all our rooms were fully booked,” says Ambrose Mwendwa, the Sales and Marketing Manager of Bidwood Suites.
Located along Karuna Road in Westlands, the hotel whose bed capacity is almost one hundred, benefited greatly from Obama’s visit for two reasons. First, its proximity to the UN headquarters in Gigiri and second, its proximity to the city centre.
“We were able to host GES delegates who definitely gave our hotel a good name,” Mwendwa says.
Bidwoods Suites was not the only beneficiary of the Obama visit. According to Mwendwa, other hotels close to the UN, the US Embassy and the city centre whose standards and service were of good quality, were also big beneficiaries.
Fast foward, Mwendwa explains that the hotel has been able to retain up to 80 percent of occupancy since the GES summit n July.
So what has retained business for Bidwoods Suites hotel and other hotels in the City Centre and its environs?
“Conference tourism. This is where money is for people owning hotels in Nairobi and its surroundings,” Mwendwa says.
According to Mwendwa, this type of tourism has been the greatest source of income for hotels following the downfall of international tourism. He explains that with conferencing, comes accommodation, which is where business lies.
“Food on its own does not generate as much money as conferencing does, hence we are trying as much as we can to tap into this field.”
And the phenomenon has quickly being picked up by hotels around the country collectively.
Mwendwa explains that the decision to diversify into conference tourism was informed by the trouble that followed the industry following travel advisories being issued against Kenya because of isolated terror attacks in the country as the domestic market was their next best option.
But since Obama’s visit and the calm that the country has experienced in recent months, the industry has been on a steady road to recovery.
Mwendwa therefore goes on to predict a positive trend for the hospitality industry in the coming months. He says that having Obama and now the visit by Pope Francis in November, are all bound to put a positive spotlight on Kenya as a tourist destination.
“We are optimistic that the visit by Pope Francis will equally mean big business to hospitality industry. Not just because of his scheduled visit, but because of the buzz that will come with his stay in Kenya,” he adds.
As he concludes, Mwendwa urges the government to continue marketing Kenya both domestically and internationally. He says that he is glad the country has factored in the importance to encouraging Kenyans to explore their own country.
Read more here >> Capital Business
>>> Tight liquidity slows growth of private sector credit in 2015
The report stipulates that private household, trade and real estate accounted for 60 percent of the total volumes of loans, with the share of loans to productive sectors low, except for manufacturing.
NAIROBI, Kenya Oct 19 – Kenya’s credit to the private sector fell from 25.8 percent in March 2014 to 20.5 percent in June 2015 and could be going on a downward trend according to a report from the World Bank.
This was affected by tight liquidity in the country with liquidity ratios at 39.9 percent in the first quarter of 2015, up from 37.7 percent in December 2014 bearing in mind the minimum statutory limit is at 20 percent.
Private credit increased in only three sectors that include agriculture, manufacturing as well as building and construction.
According to the report private sector credit to agriculture grew from 7.7 percent to 22.3 percent, manufacturing grew from 17.3 percent to 21.1 percent while building and construction grew from 2 percent to 12.7 percent.
“The continuing infrastructure spending on the Standard Gauge Railway is having a catalytic effect on related sectors of the economy, including building and construction, heavy manufacturing, engineering services and many more. Thanks to adequate rains in 2015, the agriculture sector expects a bumper harvest, which should increase consumption,” the report indicates.
Credit to business services dropped from 45.5 percent to 27.8 percent while real estate declined from 28.4 percent to 19.6 percent.
Also on the downward trend was trade that fell from 25.2 percent to 18.8 percent as consumer goods decreased from 22.5 percent to 12.4 percent in 2015.
The report stipulates that private household, trade and real estate accounted for 60 percent of the total volumes of loans, with the share of loans to productive sectors low, except for manufacturing.
According to the report the share of nonperforming loans to total loans increased from 4.3 percent in December 2014 to 5.6 percent in June 2015.
“Ten of 11 economic sectors registered increases in non-performing loans, as the economy missed its high-growth target, the share of nonperforming loans increased 27.6 percent in building and construction and 20.5 percent in real estate in the first quarter of 2015,” the report states.
Credit to the private sector is also expected to deteriorate as interest rates have climbed with the Central Bank Rate going up 300 basis points to 11.50 percent up from 8.5 percent.
Central Bank of Kenya (CBK) has also raised the Kenya Bankers Reference Rate (KBRR) to 9.87 percent from 8.5 percent effective 7th July 2015.
If inflation rises, the CBK could decide to raise CBR again to calm the market, but as the report warns, a steep rise in interest rates would dampen aggregate demand, as both consumption and investment spending will slow down and reduce growth.
Tight liquidity slows growth of private sector credit in 2015
Tight liquidity slows growth of private sector credit in 2015
The report stipulates that private household, trade and real estate accounted for 60 percent of the total volumes of loans, with the share of loans to productive sectors low, except for manufacturing.
NAIROBI, Kenya Oct 19 – Kenya’s credit to the private sector fell from 25.8 percent in March 2014 to 20.5 percent in June 2015 and could be going on a downward trend according to a report from the World Bank.
This was affected by tight liquidity in the country with liquidity ratios at 39.9 percent in the first quarter of 2015, up from 37.7 percent in December 2014 bearing in mind the minimum statutory limit is at 20 percent.
Private credit increased in only three sectors that include agriculture, manufacturing as well as building and construction.
According to the report private sector credit to agriculture grew from 7.7 percent to 22.3 percent, manufacturing grew from 17.3 percent to 21.1 percent while building and construction grew from 2 percent to 12.7 percent.
“The continuing infrastructure spending on the Standard Gauge Railway is having a catalytic effect on related sectors of the economy, including building and construction, heavy manufacturing, engineering services and many more. Thanks to adequate rains in 2015, the agriculture sector expects a bumper harvest, which should increase consumption,” the report indicates.
Credit to business services dropped from 45.5 percent to 27.8 percent while real estate declined from 28.4 percent to 19.6 percent.
Also on the downward trend was trade that fell from 25.2 percent to 18.8 percent as consumer goods decreased from 22.5 percent to 12.4 percent in 2015.
The report stipulates that private household, trade and real estate accounted for 60 percent of the total volumes of loans, with the share of loans to productive sectors low, except for manufacturing.
According to the report the share of nonperforming loans to total loans increased from 4.3 percent in December 2014 to 5.6 percent in June 2015.
“Ten of 11 economic sectors registered increases in non-performing loans, as the economy missed its high-growth target, the share of nonperforming loans increased 27.6 percent in building and construction and 20.5 percent in real estate in the first quarter of 2015,” the report states.
Credit to the private sector is also expected to deteriorate as interest rates have climbed with the Central Bank Rate going up 300 basis points to 11.50 percent up from 8.5 percent.
Central Bank of Kenya (CBK) has also raised the Kenya Bankers Reference Rate (KBRR) to 9.87 percent from 8.5 percent effective 7th July 2015.
If inflation rises, the CBK could decide to raise CBR again to calm the market, but as the report warns, a steep rise in interest rates would dampen aggregate demand, as both consumption and investment spending will slow down and reduce growth.
Read more here >> Capital Business
>>> Samsung, VSO Jitolee provide e-platform to fight child mortality
Samsung East Africa has announced a partnership with VSO Jitolee to launch an ICT solution that will improve maternal and child health care. The solution, which will be deployed at the Riruta Health Clinic in Dagoretti Sub-County, will assist health workers switch from manual data entry to real-time data entry, registration, tracking and maintaining follow-ups with mothers at various stages of their pregnancy on an e-Platform.
It will also enable health workers monitor patient health history and inform registered parents and guardians of their children’s immunization records from birth.
In addition, the solution will provide information on how to prevent HIV and AIDS transmission from mother to child and the value of nutritional supplements. Health workers based in peri-urban locations of Dagoretti will be able to enter real time data in the system which will be sent to a central database.
“This initiative is an important step towards embracing the real needs of healthcare providers and patients. We aim to leverage our technology to help individuals lead healthier lives while delivering healthcare providers the tools they need to improve clinical outcomes,” said Robert Ngeru, Vice President and COO, Samsung Electronics East Africa.
This will help the County, the ministry and various health institutions generate accurate reports to inform rapid decision making and support resource allocation across the medical sector.
Samsung Electronics East Africa is also donating TVs and DVD players which will be used to disseminate information on maternal and child health care to women of child-bearing age in the sub-county.
“We are all aware that mothers are the foundation of our society and givers of life which is why we need to take care of them. This project is designed to deliver on that promise and ensure that our health sector fulfills its mandate to boost the health of Kenyans in general,” added Mr. Ngeru.
This partnership with VSO forms part of Samsung’s Employee Volunteer Program (EVP), which encourages employees to use part of their time to uplift and empower the underprivileged in the community.
“Our vision as VSO is to empower local communities to achieve sustainable change and build resilience against future challenges. We promote volunteering as a powerful and practical way to tackle poverty and disadvantage. In partnership with other stakeholders, we are contributing to the achievement of Sustainable Development Goal 3 of Health and Well-being, to reduce the global maternal mortality ratio to less than 70 per 100,000 live births by 2030,” said George Awalla, VSO Jitolee’s Head of programmes.
Samsung, VSO Jitolee provide e-platform to fight child mortality
Samsung, VSO Jitolee provide e-platform to fight child mortality
Samsung East Africa has announced a partnership with VSO Jitolee to launch an ICT solution that will improve maternal and child health care. The solution, which will be deployed at the Riruta Health Clinic in Dagoretti Sub-County, will assist health workers switch from manual data entry to real-time data entry, registration, tracking and maintaining follow-ups with mothers at various stages of their pregnancy on an e-Platform.
It will also enable health workers monitor patient health history and inform registered parents and guardians of their children’s immunization records from birth.
In addition, the solution will provide information on how to prevent HIV and AIDS transmission from mother to child and the value of nutritional supplements. Health workers based in peri-urban locations of Dagoretti will be able to enter real time data in the system which will be sent to a central database.
“This initiative is an important step towards embracing the real needs of healthcare providers and patients. We aim to leverage our technology to help individuals lead healthier lives while delivering healthcare providers the tools they need to improve clinical outcomes,” said Robert Ngeru, Vice President and COO, Samsung Electronics East Africa.
This will help the County, the ministry and various health institutions generate accurate reports to inform rapid decision making and support resource allocation across the medical sector.
Samsung Electronics East Africa is also donating TVs and DVD players which will be used to disseminate information on maternal and child health care to women of child-bearing age in the sub-county.
“We are all aware that mothers are the foundation of our society and givers of life which is why we need to take care of them. This project is designed to deliver on that promise and ensure that our health sector fulfills its mandate to boost the health of Kenyans in general,” added Mr. Ngeru.
This partnership with VSO forms part of Samsung’s Employee Volunteer Program (EVP), which encourages employees to use part of their time to uplift and empower the underprivileged in the community.
“Our vision as VSO is to empower local communities to achieve sustainable change and build resilience against future challenges. We promote volunteering as a powerful and practical way to tackle poverty and disadvantage. In partnership with other stakeholders, we are contributing to the achievement of Sustainable Development Goal 3 of Health and Well-being, to reduce the global maternal mortality ratio to less than 70 per 100,000 live births by 2030,” said George Awalla, VSO Jitolee’s Head of programmes.
Read more here >> Capital Business
Sunday, October 18, 2015
News24.co.ke | Leopards, Mathare share spoils
AFC Leopards were lucky to escape with a barren draw against Mathare United in a fast paced Sportpesa Premier League (SPL) tie staged at Safaricom Kasarani Stadium on Sunday.
Read More here >> News24
Read More here >> News24
News24.co.ke | City Stars claim vital win
Nairobi City Stars breathed new life into their battle for survival after edging fellow strugglers KCB by a solitary goal in a late kick off tie staged at Safaricom Kasarani Stadium on Sunday.
Read More here >> News24
Read More here >> News24
News24.co.ke | All Blacks back in familiar territory as World Cup favourites
The morning after the big night before, the All Blacks found themselves in familiar territory, heading to the Rugby World Cup semi-finals with everyone gushing about their latest performance.
Read More here >> News24
Read More here >> News24
News24.co.ke | Buoyant Bayern wary of winless Arsenal
Bayern Munich head to London for Tuesday's Champions League match against Arsenal buoyed after setting more Bundesliga records, but wary of the winless Gunners.
Read More here >> News24
Read More here >> News24
Africa know-how makes SABMiller a good drinking partner
Festival drinkers are encouraged to book tables of at least six people, and bring friends, family and work colleagues to enjoy sausages and live music washed down with beer served by a “dedicated Fraulein”/AFP
The annual Bierfest is just one example of SABMiller’s strong presence in Africa, which is seen as a key driver of Anheuser-Busch InBev’s planned takeover of the brewing giant.
Festival drinkers are encouraged to book tables of at least six people, and bring friends, family and work colleagues to enjoy sausages and live music washed down with beer served by a “dedicated Fraulein”.
“We want to bring beer culture to all parts of society,” Jon Monsoon, one of Bierfest’s organisers, told AFP. “More and more people come to the festival every year.
“We are serving beers from the No.3 Fransen Street brewery and the Newlands Spring brewery – both of which are owned by SABMiller.
“There is such enthusiasm to discover more about beer.”
Africa is the world’s fastest-growing beer market, expanding at a predicted rate of five percent a year between 2013 and 2017, according to Canadean, a London-based research company specialising in the drinks industry.
That growth rate outstrips four percent for Asia and three percent for Latin America.
“Africa has seen inflation fall, foreign debt shrink and GDP rise in the last few years,” Kevin Baker, account director at Canadean, said in a report released this year.
“Population growth – once feared as a major contributor to poverty – is now perceived as an asset, with the working age population set to outgrow that of China and India.”
Read more here >> Capital Business
News24.co.ke | Neymar hits four in Barca rout, Ronaldo takes Madrid top
A spectacular performance from Neymar ensured Barcelona didn't miss the injured Lionel Messi as he scored four to help the European champions come from behind to beat Rayo Vallecano 5-2.
Read More here >> News24
Read More here >> News24
News24.co.ke | Chelsea, Manchester United,Arsenal all win in Premier League
Chelsea, Manchester United,Arsenal and Manchester City all win in Premier League; Klopp starts with draw.
Read More here >> News24
Read More here >> News24
Saturday, October 17, 2015
>>> Africa know-how makes SABMiller a good drinking partner
Festival drinkers are encouraged to book tables of at least six people, and bring friends, family and work colleagues to enjoy sausages and live music washed down with beer served by a “dedicated Fraulein”/AFP
The annual Bierfest is just one example of SABMiller’s strong presence in Africa, which is seen as a key driver of Anheuser-Busch InBev’s planned takeover of the brewing giant.
Festival drinkers are encouraged to book tables of at least six people, and bring friends, family and work colleagues to enjoy sausages and live music washed down with beer served by a “dedicated Fraulein”.
“We want to bring beer culture to all parts of society,” Jon Monsoon, one of Bierfest’s organisers, told AFP. “More and more people come to the festival every year.
“We are serving beers from the No.3 Fransen Street brewery and the Newlands Spring brewery – both of which are owned by SABMiller.
“There is such enthusiasm to discover more about beer.”
Africa is the world’s fastest-growing beer market, expanding at a predicted rate of five percent a year between 2013 and 2017, according to Canadean, a London-based research company specialising in the drinks industry.
That growth rate outstrips four percent for Asia and three percent for Latin America.
“Africa has seen inflation fall, foreign debt shrink and GDP rise in the last few years,” Kevin Baker, account director at Canadean, said in a report released this year.
“Population growth – once feared as a major contributor to poverty – is now perceived as an asset, with the working age population set to outgrow that of China and India.”
Africa know-how makes SABMiller a good drinking partner
>>> Regional states ponder diesel or electric option for SGR
A joint communiqué read by Kenya Foreign Affairs Cabinet Secretary Amina Mohamed said teams from Kenya, Uganda, Rwanda and South Sudan will be travelling to China to sign the final set financing agreements of the mega infrastructural project/PSCU
A joint communiqué read by Kenya Foreign Affairs Cabinet Secretary Amina Mohamed said teams from Kenya, Uganda, Rwanda and South Sudan will be travelling to China to sign the final set financing agreements of the mega infrastructural project.
“The summit noted progress made in the finalisation of bankable proposals for some sections and directed the Ministers of Finance, Infrastructure, Attorneys General, coordinated by Ministers of Foreign Affairs, to undertake a joint visit to Exim Bank in China to conclude financing agreements. The summit directed the ministers to provide details of the cost comparisons for diesel and electric traction,” she said.
The announcement may signal a shift in thinking among the member states to change the powering mechanisms from electricity to the much cheaper diesel operated trains.
This is after Mohamed noted the summit’s concerns over the delay for the completion of the power transmission infrastructure necessary for trade in power.
“The summit noted with concern the delay and shift in the timelines for completion of the power transmission infrastructure necessary for trade in power. The Heads of State directed the ministers to closely monitor the implementation of this project and ensure that no further delays are experienced.”
The summit has also directed Lands Ministers in respective members states to enact legislations to fast track land acquisition for the infrastructure corridor.
Mohamed stated; “the summit welcomed proposals from the ministers on the need to employ alternative dispute resolution mechanisms in land dispute settlement and acquisition.”
“The summit noted the urgency to amend existing laws to fast track land acquisition for the infrastructure corridor. In addition, ministers responsible for implementing infrastructure projects together with Ministers of Finance are to prioritise the use of funds allocated for implementing infrastructure projects including land acquisition,” she added.
The northern corridor projects are designed to enable development and operationalisation of a seamless railway network from Mombasa to Kigali and Juba.
The Nairobi summit was attended by Kenya’s Uhuru Kenyatta, President Yoweri Museveni of Uganda, Paul Kagame of Rwanda, delegations from Burundi, South Sudan, Ethiopia, Democratic Republic of Congo and Tanzania.
Regional states ponder diesel or electric option for SGR
Regional states ponder diesel or electric option for SGR
A joint communiqué read by Kenya Foreign Affairs Cabinet Secretary Amina Mohamed said teams from Kenya, Uganda, Rwanda and South Sudan will be travelling to China to sign the final set financing agreements of the mega infrastructural project/PSCU
A joint communiqué read by Kenya Foreign Affairs Cabinet Secretary Amina Mohamed said teams from Kenya, Uganda, Rwanda and South Sudan will be travelling to China to sign the final set financing agreements of the mega infrastructural project.
“The summit noted progress made in the finalisation of bankable proposals for some sections and directed the Ministers of Finance, Infrastructure, Attorneys General, coordinated by Ministers of Foreign Affairs, to undertake a joint visit to Exim Bank in China to conclude financing agreements. The summit directed the ministers to provide details of the cost comparisons for diesel and electric traction,” she said.
The announcement may signal a shift in thinking among the member states to change the powering mechanisms from electricity to the much cheaper diesel operated trains.
This is after Mohamed noted the summit’s concerns over the delay for the completion of the power transmission infrastructure necessary for trade in power.
“The summit noted with concern the delay and shift in the timelines for completion of the power transmission infrastructure necessary for trade in power. The Heads of State directed the ministers to closely monitor the implementation of this project and ensure that no further delays are experienced.”
The summit has also directed Lands Ministers in respective members states to enact legislations to fast track land acquisition for the infrastructure corridor.
Mohamed stated; “the summit welcomed proposals from the ministers on the need to employ alternative dispute resolution mechanisms in land dispute settlement and acquisition.”
“The summit noted the urgency to amend existing laws to fast track land acquisition for the infrastructure corridor. In addition, ministers responsible for implementing infrastructure projects together with Ministers of Finance are to prioritise the use of funds allocated for implementing infrastructure projects including land acquisition,” she added.
The northern corridor projects are designed to enable development and operationalisation of a seamless railway network from Mombasa to Kigali and Juba.
The Nairobi summit was attended by Kenya’s Uhuru Kenyatta, President Yoweri Museveni of Uganda, Paul Kagame of Rwanda, delegations from Burundi, South Sudan, Ethiopia, Democratic Republic of Congo and Tanzania.
Read more here >> Capital Business
News24.co.ke | Klopp's Liverpool reign begins with draw at Spurs
uergen Klopp's reign as Liverpool manager began with an exciting, end-to-end 0-0 draw against Tottenham Hotspur at White Hart Lane.
Read More here >> News24
Read More here >> News24
News24.co.ke | Ronaldo overtakes Raul as record Real Madrid goalscorer
Cristiano Ronaldo overtook Raul as Real Madrid's record scorer when he found the net with a trademark long-range piledriver in Saturday's La Liga game at home to Levante.
Read More here >> News24
Read More here >> News24
Friday, October 16, 2015
News24.co.ke | Gor face Tusker in Top 8 semi-finals
The Kenyan Premier League Top 8 semifinal ties will be played Saturday at the Afraha Stadium in Nakuru.
Read More here >> News24
Read More here >> News24
News24.co.ke | Rooney and Carrick back after United's "awful" fortnight
Captain Wayne Rooney and midfielder Michael Carrick are fit for Manchester United's Premier League game at Everton this weekend, manager Louis van Gaal has said.
Read More here >> News24
Read More here >> News24
>>> Demands for VW emissions audit emerge in Kenya
The understated emissions are estimated to be between 250,000 to 1million extra tones every year in the US alone/FILE
The 78 year-old German brand has created an impressive legacy worldwide arguably becoming part of the top three most purchased vehicles alongside Toyota and Subaru.
And it has impressive sales too. The company produced close to 10 million vehicles in 2009 alone, with revenues amounting to 197billion Euros in 2013 only.
The famed company however seems to be falling off its glory.
A discovery by America’s Environmental Protection Agency revealed that VW diesel cars on American roads were emitting up to 40 times more toxic fumes than permitted, according to The Guardian.
VW managed to make the amount of gases being emitted by its vehicles seem less than they really were. It did this by installing a programme in its engine’s software that lets the vehicle seem like its emitting less gases than it really is.
According to the Guardian, VW’s ‘defeat device’ therefore cuts emissions through techniques such as adjusting air-fuel ratios and exhaust flows, and in some (though not most VWs) injecting a urea-based solution to render NOx harmless.
This should call for alarm.
The understated emissions are estimated to be between 250,000 to 1million extra tones every year in the US alone.
This means bad news to the environment and for people as the emission of such harmful gases such as Nitric Oxide and Nitrogen dioxide (NOx) cause inflammation of the airways and worsens breathing. What’s worse, NOx emissions react with other compounds to cause serious respiratory conditions Asthma, Bronchitis and Emphysema and aggravate heart problems.
It also contributes to acid rain and smog.
According to the Guardian, London alone has linked 9,500 premature deaths annually to high levels of NOx in the environment.
As a result, VW is facing a couple of lawsuits from countries such as the US, whereas a lawsuit against the company in the UK is a possibility as discussions in its parliament are already ongoing.
The issue has therefore prompted an outcry from Kenya’s Centre for Climate Change Awareness (C4CCA) demanding that the National Environment Management Agency (NEMA) and the Kenya Bureau of Standards (KeBS) to compel local VW and motor vehicle local franchises to declare the emission levels of cars they have imported into the country since 2009.
In a letter written by C4CCA, the organisation asks both NEMA and KeBS to use their statutory mandate to demand that dealers of VW’s also declare whether they were previously aware of the “defeat devices” that falsified pollution tests on diesel engine vehicles.
On its part, VW has admitted that 11 million vehicles may have been manipulated. According to C4CCA, Kenya is a big market for these vehicles and hence the scandal cannot be ignored.
“The right to a clean environment is enshrined under, among other Statutes, Article 69 of the Constitution which provides guidance to the State in ensuring sustainable management of the environment, and the Environmental Management and Coordination Act of 1999. These provisions offer guidelines both on the obligations of different actors, and rights therein”, says Stephen Ndegwa, the C4CCA executive director.
Ndegwa said that his organization is waiting to see what action NEMA and KEBS will demand from the local franchises before proceeding with any legal action.
The Problem at hand
KEBS and NEMA have rules against pollution. However, there are no specific prohibitions and measures on what amount of these emissions is illegal.
Additionally, if VW was to recall vehicles that have the defeat device, it would be hard to track down owners. First, the vehicles have a huge fan base and convincing people to neglect buying them because of the amount of emission it produces may not hold waters.
Second, there are a big number of owners whose cars were second hand vehicles and not VW itself. Third, not many people in the country would be convinced on why they should render a perfectly working car to fix something they think is not a problem.
“These are the challenges that we are currently facing. We surely need to take action, but are KEBS and NEMA willing to do their work?” he asks in conclusion.
Demands for VW emissions audit emerge in Kenya
Demands for VW emissions audit emerge in Kenya
The understated emissions are estimated to be between 250,000 to 1million extra tones every year in the US alone/FILE
The 78 year-old German brand has created an impressive legacy worldwide arguably becoming part of the top three most purchased vehicles alongside Toyota and Subaru.
And it has impressive sales too. The company produced close to 10 million vehicles in 2009 alone, with revenues amounting to 197billion Euros in 2013 only.
The famed company however seems to be falling off its glory.
A discovery by America’s Environmental Protection Agency revealed that VW diesel cars on American roads were emitting up to 40 times more toxic fumes than permitted, according to The Guardian.
VW managed to make the amount of gases being emitted by its vehicles seem less than they really were. It did this by installing a programme in its engine’s software that lets the vehicle seem like its emitting less gases than it really is.
According to the Guardian, VW’s ‘defeat device’ therefore cuts emissions through techniques such as adjusting air-fuel ratios and exhaust flows, and in some (though not most VWs) injecting a urea-based solution to render NOx harmless.
This should call for alarm.
The understated emissions are estimated to be between 250,000 to 1million extra tones every year in the US alone.
This means bad news to the environment and for people as the emission of such harmful gases such as Nitric Oxide and Nitrogen dioxide (NOx) cause inflammation of the airways and worsens breathing. What’s worse, NOx emissions react with other compounds to cause serious respiratory conditions Asthma, Bronchitis and Emphysema and aggravate heart problems.
It also contributes to acid rain and smog.
According to the Guardian, London alone has linked 9,500 premature deaths annually to high levels of NOx in the environment.
As a result, VW is facing a couple of lawsuits from countries such as the US, whereas a lawsuit against the company in the UK is a possibility as discussions in its parliament are already ongoing.
The issue has therefore prompted an outcry from Kenya’s Centre for Climate Change Awareness (C4CCA) demanding that the National Environment Management Agency (NEMA) and the Kenya Bureau of Standards (KeBS) to compel local VW and motor vehicle local franchises to declare the emission levels of cars they have imported into the country since 2009.
In a letter written by C4CCA, the organisation asks both NEMA and KeBS to use their statutory mandate to demand that dealers of VW’s also declare whether they were previously aware of the “defeat devices” that falsified pollution tests on diesel engine vehicles.
On its part, VW has admitted that 11 million vehicles may have been manipulated. According to C4CCA, Kenya is a big market for these vehicles and hence the scandal cannot be ignored.
“The right to a clean environment is enshrined under, among other Statutes, Article 69 of the Constitution which provides guidance to the State in ensuring sustainable management of the environment, and the Environmental Management and Coordination Act of 1999. These provisions offer guidelines both on the obligations of different actors, and rights therein”, says Stephen Ndegwa, the C4CCA executive director.
Ndegwa said that his organization is waiting to see what action NEMA and KEBS will demand from the local franchises before proceeding with any legal action.
The Problem at hand
KEBS and NEMA have rules against pollution. However, there are no specific prohibitions and measures on what amount of these emissions is illegal.
Additionally, if VW was to recall vehicles that have the defeat device, it would be hard to track down owners. First, the vehicles have a huge fan base and convincing people to neglect buying them because of the amount of emission it produces may not hold waters.
Second, there are a big number of owners whose cars were second hand vehicles and not VW itself. Third, not many people in the country would be convinced on why they should render a perfectly working car to fix something they think is not a problem.
“These are the challenges that we are currently facing. We surely need to take action, but are KEBS and NEMA willing to do their work?” he asks in conclusion.
Read more here >> Capital Business
News24.co.ke | FIFA analyzing claim of irregularities in Neymar's transfer
FIFA analyzing Brazilian club's claim of irregularities in Neymar's transfer to Barcelona
Read More here >> News24
Read More here >> News24
News24.co.ke | English premier league fixtures
Fixtures from the English premier league matches this weekend:
Read More here >> News24
Read More here >> News24
>>> University Female Model Shocks Crowd Walking On Stage BILA NG'OTHA
A 21 year-old Zimbabwean student is expected to appear in court on Monday, October 19 under charges of indecent exposure following a daring stunt she allegedly executed at a Harare college beauty pageant.
Panashe Zhaware reportedly flashed her private parts at adjudicators during a Miss Harare Polytechnic contest last week.
Zhawari was scheduled to appear in court last Friday, October 9, but her matter was referred back to the police station for amendment of charges under the Censorship and Entertainment Control Act Section 33 when she was initially taken to court for prosecution.
Prosecutor Patience Chimusaru told the court that Zhaware mounted the stage without her panties and deliberately spread her dress wide open in front of the contest’s adjudicators.
Following the incident, photos of the student in her open dress went viral and authorities were alerted.
She was released from custody at $100 bail.
University Female Model Shocks Crowd Walking On Stage BILA NG'OTHA
>>> TransCentury on six-month funds campaign
Other areas of focus will be growth capital for existing power and engineering businesses and financing of infrastructure projects across sub-Saharan Africa which includes power generation plants, toll roads and oil pipelines/FILE
The fundraising will focus on achieving growth for the company in three areas that includes refinancing the $56.8 million of convertible bonds issued by its subsidiary, TC Mauritius Holding due on March 25, 2016.
Other areas of focus will be growth capital for existing power and engineering businesses and financing of infrastructure projects across sub-Saharan Africa which includes power generation plants, toll roads and oil pipelines.
Various advisors have been engaged for this purpose.
The exact nature and structure of the transaction will be decided upon by the company’s board based on the recommendations of the advisors.
“Shareholders will be kept appraised of material developments,” the firm said.
Commenting on the move, analysts at Standard Investment Bank Research says the decision does not come as a surprise given that financing has been a key challenge for the company.
Implementation of the fundraising programme will be subject to the approval of TransCentury shareholders, the Capital Markets Authority and the Nairobi, Securities Exchange.
The firm recorded a net loss of Sh676 million in the first half of 2015, albeit an improvement compared to a net loss of Sh1.63 million recorded same period in 2014 with the firm’s revenue growing by five percent compared to the same period last year despite being impacted by a 25 percent decline in its power division revenue.
Power division revenues were significantly impacted by significant interruptions of production processes in the firms copper factory due to ongoing final phase of capacity and efficiency upgrade. The firm also faced foreign exchange currency challenges buoyed by a strong dollar that increased financial costs.
“The outlook is positive, for our core businesses with strong pipelines of Engineering projects now underway and a growing order group in our power division which will improve the financial performance in the second half of the year through reduction of the order backlog once the copper factory refurbishment is complete,” the firm said.
TransCentury on six-month funds campaign
>>> I&M Holdings to acquire 65pc of Burbidge Capital
Burbidge Capital is a corporate finance advisory firm based in Kenya and Uganda/FILE
NAIROBI, Kenya, Oct 16 – I&M Holdings has announced plans to acquire 65 percent of Burbidge Capital Limited.
The move comes a month after the firm also announced plans to purchase Giro Commercial Bank Limited(GCBL) that will see GCBL merge with I&M under I&M Bank, a subsidiary of I&M Holdings.
READ: I&M Holdings to acquire Giro Commercial Bank
Burbidge Capital is a corporate finance advisory firm based in Kenya and Uganda.
The company focuses on large and mid-sized companies in the region with typical transaction sizes ranging between Sh411 million (US$4mn) and Sh15.4 billion (US$150mn)
The completion of the transaction is subject to all regulatory approvals from the Central Bank of Kenya, Capital Markets Authority, the Competition Authority of Kenya and shareholders of the company.
The amount of the deal is yet to be revealed.
“Further details of the transaction will be made available to the shareholders in due course,” the management said.
Burbidge Capital acted as Nominated Adviser and Placing Agent on the recent cross listing of Atlas Development & Support Services Limited on the Nairobi Securities Exchange and the contemporaneous US$5 million Kenya fundraising, which completed in December 2014.
The firm was also the nominated advisor and placing agent on the listing of Flame Tree Group, owner of Roto Tanks, Zoe and Alana brands.
“The proposed transaction may have a material effect on the value of the shares of the company. The shareholders of the company and the public are accordingly advised to exercise due caution when dealing in the shares of the company,” the firm stated.
I&M Holdings to acquire 65pc of Burbidge Capital
TransCentury on six-month funds campaign
Other areas of focus will be growth capital for existing power and engineering businesses and financing of infrastructure projects across sub-Saharan Africa which includes power generation plants, toll roads and oil pipelines/FILE
The fundraising will focus on achieving growth for the company in three areas that includes refinancing the $56.8 million of convertible bonds issued by its subsidiary, TC Mauritius Holding due on March 25, 2016.
Other areas of focus will be growth capital for existing power and engineering businesses and financing of infrastructure projects across sub-Saharan Africa which includes power generation plants, toll roads and oil pipelines.
Various advisors have been engaged for this purpose.
The exact nature and structure of the transaction will be decided upon by the company’s board based on the recommendations of the advisors.
“Shareholders will be kept appraised of material developments,” the firm said.
Commenting on the move, analysts at Standard Investment Bank Research says the decision does not come as a surprise given that financing has been a key challenge for the company.
Implementation of the fundraising programme will be subject to the approval of TransCentury shareholders, the Capital Markets Authority and the Nairobi, Securities Exchange.
The firm recorded a net loss of Sh676 million in the first half of 2015, albeit an improvement compared to a net loss of Sh1.63 million recorded same period in 2014 with the firm’s revenue growing by five percent compared to the same period last year despite being impacted by a 25 percent decline in its power division revenue.
Power division revenues were significantly impacted by significant interruptions of production processes in the firms copper factory due to ongoing final phase of capacity and efficiency upgrade. The firm also faced foreign exchange currency challenges buoyed by a strong dollar that increased financial costs.
“The outlook is positive, for our core businesses with strong pipelines of Engineering projects now underway and a growing order group in our power division which will improve the financial performance in the second half of the year through reduction of the order backlog once the copper factory refurbishment is complete,” the firm said.
Read more here >> Capital Business
I&M Holdings to acquire 65pc of Burbidge Capital
Burbidge Capital is a corporate finance advisory firm based in Kenya and Uganda/FILE
NAIROBI, Kenya, Oct 16 – I&M Holdings has announced plans to acquire 65 percent of Burbidge Capital Limited.
The move comes a month after the firm also announced plans to purchase Giro Commercial Bank Limited(GCBL) that will see GCBL merge with I&M under I&M Bank, a subsidiary of I&M Holdings.
READ: I&M Holdings to acquire Giro Commercial Bank
Burbidge Capital is a corporate finance advisory firm based in Kenya and Uganda.
The company focuses on large and mid-sized companies in the region with typical transaction sizes ranging between Sh411 million (US$4mn) and Sh15.4 billion (US$150mn)
The completion of the transaction is subject to all regulatory approvals from the Central Bank of Kenya, Capital Markets Authority, the Competition Authority of Kenya and shareholders of the company.
The amount of the deal is yet to be revealed.
“Further details of the transaction will be made available to the shareholders in due course,” the management said.
Burbidge Capital acted as Nominated Adviser and Placing Agent on the recent cross listing of Atlas Development & Support Services Limited on the Nairobi Securities Exchange and the contemporaneous US$5 million Kenya fundraising, which completed in December 2014.
The firm was also the nominated advisor and placing agent on the listing of Flame Tree Group, owner of Roto Tanks, Zoe and Alana brands.
“The proposed transaction may have a material effect on the value of the shares of the company. The shareholders of the company and the public are accordingly advised to exercise due caution when dealing in the shares of the company,” the firm stated.
Read more here >> Capital Business
News24.co.ke | Celtic push for 5th straight PSL win
Golden Arrows will host a Bloemfontein Celtic side on a hot streak in the PSL, with the teams set to meet at Chatsworth Stadium.
Read More here >> News24
Read More here >> News24
News24.co.ke | FIFA scandal won't destroy 'beautiful game'
Pele described the corruption crisis engulfing FIFA as "a shame" but stopped short of backing a candidate as president.
Read More here >> News24
Read More here >> News24
>>> TED Radio Hour: Success
Success has become synonymous with financial wealth, influence and status. But can we define success in another way — one that welcomes a broader range of accomplishment? It may not be as obvious as you think. In this hour, TED speakers share ideas for what makes us successful.
1. Tony Robbins: How Can Drive Make You A Success?
2. Angela Duckworth: Is Having Grit The Key To Success?
3. Ron Gutman: Can You Smile Your Way To Success?
4. Mike Rowe: Are People With Dirty Jobs The Most Successful?
5. Alain de Botton: What’s A Kinder Way To Frame Success?
TED Radio Hour: Success
TED Radio Hour: Success
Success has become synonymous with financial wealth, influence and status. But can we define success in another way — one that welcomes a broader range of accomplishment? It may not be as obvious as you think. In this hour, TED speakers share ideas for what makes us successful.
1. Tony Robbins: How Can Drive Make You A Success?
2. Angela Duckworth: Is Having Grit The Key To Success?
3. Ron Gutman: Can You Smile Your Way To Success?
4. Mike Rowe: Are People With Dirty Jobs The Most Successful?
5. Alain de Botton: What’s A Kinder Way To Frame Success?
Read more here >> Capital Business
>>> Credit and Operations Manager – MFI Nairobi
A soon to be started Microfinance Company ‘MFI’ affiliated to an insurance company in Kenya is looking for a highly motivated Credit and Operations Manager with a track record of excellent performance and a good personality disposition to join their highly professional and performance agile team.
| If the story of a mustard seed that grows to a huge tree excites you! We are looking for you to grow our ambitious dream to be a brand to reckon with from our humble and structured beginnings. The positions reports to the Director
Job Purpose |
| Responsible for managing the MFI’s credit function efficiently and effectively in order to ensure profitability, maintain a quality loan book and ensure that the MFI is not exposed to credit risk.
Manage and coordinate all operational activities and ensure quality service and effective operations support for all of the assigned internal and external customers. The job holder will be required to provide vision and leadership in developing, implementing and maintaining policies, guidelines and procedures for MFI operations to ensure efficient and economic operations are delivered to the customers |
| Duties and Responsibilities |
| Formulate and implement the MFI’s credit policy and ensure compliance with the policies and procedures.
Conduct regular reviews of the credit policy to ensure its relevance to business requirements and CBK and statutory regulations. Ensure that customers’ financing needs for working capital and capital expenditure are addressed appropriately and profitably through the offer of suitable credit products. Formulate and optimize credit scoring strategies in various business areas. Manage credit risk though regular analysis and evaluation; Make recommendations and develop techniques and strategies to manage, control and mitigate risk. Liaise with the Credit Reference Bureau on prospects/ commitment clients and report the under performing loans to ensure non- migration of bad assets within the industry. |
| Carry out credit appraisals to vet all credit proposals from branches and other lines of business.
Contribute to the development of policies guidelines and procedures for business development strategies that deliver products and services that are innovative, responsive and meet customers’ needs and expectations. Develop strategies and implementation plans to improve and standardize all aspects of operations. Liaise with external auditors and regulators to ensure that all credit transactions are compliant with existing regulatory instruments. Lead and manage the operations team to deliver a culture that supports and contributes to the financial objective of the business and meets service standards. Ensure the operations team delivers all planned and agreed department and individual performance targets. Develop team members through performance feedback, recommending training where appropriate and coach and mentor individuals for growth. Develop, formulate, recommend and coordinate policies and guidelines on record management of the organization. Produce timely and accurate management reports as needed for monitoring and management of business operations. Control the utilization, proper maintenance and custody of all assets at the branch. Ensure all reporting tools are available at branch level to correctly monitor all branch activities. Minimum Requirements At least 5 years in an Operations Department of a Commercial Bank ; 2 of which should have been in the Credit department At least 3 years of Credit Operations experience Degree level of education with an Accounting certification Knowledge of Credit Appraisal Methodologies would be a requirement How to apply: If you are interested in the position and have the skills and talents our client is looking for, we would like to hear from you. Please make your application through our website www.dorbe-leit.co.ke before close of business 21st October 2015. Only successful candidates will be contacted. |
Credit and Operations Manager – MFI Nairobi
>>> Vacancy: Business Development Manager – MFI Nairobi
A soon to be started Microfinance ‘MFI’ affiliated to an insurance MFI in Kenya is looking for a highly motivated Business Development Manager with a track record of excellent performance and a good personality disposition to join their highly professional and performance agile team.
| If the story of a mustard seed that grows to a huge tree excites you! We are looking for you to grow our ambitious dream to be a brand to reckon with from our humble and structured beginnings. The position reports to the Director
Job Purpose |
| Grow the MFI’s balance sheet through sales and marketing initiatives. Generate new profitable financial relationships, focusing on the small and medium middle market segment, focusing on loans, deposits and cash management relationships.
Identify and acquire new banking relationships, effectively handing off leads to relationship managers and communicate sales proposals to target clients. The position holder will be required to understand differing industry credit and financial product needs and trends and be the liaison between management teams and other service lines/product groups within the bank. |
| Duties and Responsibilities |
| · Improve visibility and brand image of the Microfinance
· Visibility · Participate in the development and implementation of marketing and business development initiatives. Acquisition & customer portfolio management Market the MFI’s products and services on a daily basis to existing and prospective customers with emphasis on Loans and Overdrafts, Current and Savings Accounts and Fixed Deposits. Generate business through local sales promotion: outdoor marketing calls on existing as well as potential customers. Build relationships with existing referral sources and cultivate new referral sources both internally and externally. Achieve the Targets set in terms of product mix and customer segment. |
| Work closely with the Branch Heads in arranging for events /promotions for new acquisition of customers.
Derive insights to competitor Sales activities and effectively counter the efforts. Regularly provide feedback to Director on the acceptance of the products in the market and suggest changes that could drive profit and target realization. Review credit applications for personal loans before submission to the Credit Department. Prepare and maintain daily, weekly, monthly, quarterly and annual sales call reports. Participate in Commercial colleague meetings and training in order to stay current on MFI’s products and services and remain current on banking market conditions and industry trends Play a visible role in Trade organizations and Community organizations and activities in order to raise the profile of the bank. Minimum Requirements At least 5 years of Relationship Management experience in Corporate Banking The current job level of the person would involve the management of a team Degree level of education with a professional certification Knowledge of Credit Appraisal Methodologies would be an advantage Have a background in Commercial / Retail Banking Operations would be an added advantage An attractive and competitive package will be offered How to apply: If you are interested in the position and have the skills and talents our client is looking for, we would like to hear from you. Please make your application through our website www.dorbe-leit.co.ke before close of business 21st October 2015. Only successful candidates will be contacted. |
Vacancy: Business Development Manager – MFI Nairobi
Credit and Operations Manager – MFI Nairobi
A soon to be started Microfinance Company ‘MFI’ affiliated to an insurance company in Kenya is looking for a highly motivated Credit and Operations Manager with a track record of excellent performance and a good personality disposition to join their highly professional and performance agile team.
| If the story of a mustard seed that grows to a huge tree excites you! We are looking for you to grow our ambitious dream to be a brand to reckon with from our humble and structured beginnings. The positions reports to the Director
Job Purpose |
| Responsible for managing the MFI’s credit function efficiently and effectively in order to ensure profitability, maintain a quality loan book and ensure that the MFI is not exposed to credit risk.
Manage and coordinate all operational activities and ensure quality service and effective operations support for all of the assigned internal and external customers. The job holder will be required to provide vision and leadership in developing, implementing and maintaining policies, guidelines and procedures for MFI operations to ensure efficient and economic operations are delivered to the customers |
| Duties and Responsibilities |
| Formulate and implement the MFI’s credit policy and ensure compliance with the policies and procedures.
Conduct regular reviews of the credit policy to ensure its relevance to business requirements and CBK and statutory regulations. Ensure that customers’ financing needs for working capital and capital expenditure are addressed appropriately and profitably through the offer of suitable credit products. Formulate and optimize credit scoring strategies in various business areas. Manage credit risk though regular analysis and evaluation; Make recommendations and develop techniques and strategies to manage, control and mitigate risk. Liaise with the Credit Reference Bureau on prospects/ commitment clients and report the under performing loans to ensure non- migration of bad assets within the industry. |
| Carry out credit appraisals to vet all credit proposals from branches and other lines of business.
Contribute to the development of policies guidelines and procedures for business development strategies that deliver products and services that are innovative, responsive and meet customers’ needs and expectations. Develop strategies and implementation plans to improve and standardize all aspects of operations. Liaise with external auditors and regulators to ensure that all credit transactions are compliant with existing regulatory instruments. Lead and manage the operations team to deliver a culture that supports and contributes to the financial objective of the business and meets service standards. Ensure the operations team delivers all planned and agreed department and individual performance targets. Develop team members through performance feedback, recommending training where appropriate and coach and mentor individuals for growth. Develop, formulate, recommend and coordinate policies and guidelines on record management of the organization. Produce timely and accurate management reports as needed for monitoring and management of business operations. Control the utilization, proper maintenance and custody of all assets at the branch. Ensure all reporting tools are available at branch level to correctly monitor all branch activities. Minimum Requirements At least 5 years in an Operations Department of a Commercial Bank ; 2 of which should have been in the Credit department At least 3 years of Credit Operations experience Degree level of education with an Accounting certification Knowledge of Credit Appraisal Methodologies would be a requirement How to apply: If you are interested in the position and have the skills and talents our client is looking for, we would like to hear from you. Please make your application through our website www.dorbe-leit.co.ke before close of business 21st October 2015. Only successful candidates will be contacted. |
Read more here >> Capital Business
Vacancy: Business Development Manager – MFI Nairobi
A soon to be started Microfinance ‘MFI’ affiliated to an insurance MFI in Kenya is looking for a highly motivated Business Development Manager with a track record of excellent performance and a good personality disposition to join their highly professional and performance agile team.
| If the story of a mustard seed that grows to a huge tree excites you! We are looking for you to grow our ambitious dream to be a brand to reckon with from our humble and structured beginnings. The position reports to the Director
Job Purpose |
| Grow the MFI’s balance sheet through sales and marketing initiatives. Generate new profitable financial relationships, focusing on the small and medium middle market segment, focusing on loans, deposits and cash management relationships.
Identify and acquire new banking relationships, effectively handing off leads to relationship managers and communicate sales proposals to target clients. The position holder will be required to understand differing industry credit and financial product needs and trends and be the liaison between management teams and other service lines/product groups within the bank. |
| Duties and Responsibilities |
| · Improve visibility and brand image of the Microfinance
· Visibility · Participate in the development and implementation of marketing and business development initiatives. Acquisition & customer portfolio management Market the MFI’s products and services on a daily basis to existing and prospective customers with emphasis on Loans and Overdrafts, Current and Savings Accounts and Fixed Deposits. Generate business through local sales promotion: outdoor marketing calls on existing as well as potential customers. Build relationships with existing referral sources and cultivate new referral sources both internally and externally. Achieve the Targets set in terms of product mix and customer segment. |
| Work closely with the Branch Heads in arranging for events /promotions for new acquisition of customers.
Derive insights to competitor Sales activities and effectively counter the efforts. Regularly provide feedback to Director on the acceptance of the products in the market and suggest changes that could drive profit and target realization. Review credit applications for personal loans before submission to the Credit Department. Prepare and maintain daily, weekly, monthly, quarterly and annual sales call reports. Participate in Commercial colleague meetings and training in order to stay current on MFI’s products and services and remain current on banking market conditions and industry trends Play a visible role in Trade organizations and Community organizations and activities in order to raise the profile of the bank. Minimum Requirements At least 5 years of Relationship Management experience in Corporate Banking The current job level of the person would involve the management of a team Degree level of education with a professional certification Knowledge of Credit Appraisal Methodologies would be an advantage Have a background in Commercial / Retail Banking Operations would be an added advantage An attractive and competitive package will be offered How to apply: If you are interested in the position and have the skills and talents our client is looking for, we would like to hear from you. Please make your application through our website www.dorbe-leit.co.ke before close of business 21st October 2015. Only successful candidates will be contacted. |
Read more here >> Capital Business
>>> Kenya’s first digital gallery launched through Samsung super HD TV
Allan Oyier, Samsung East & Central Africa General manager Consumer electronics Division, and the overall winner Siegmund Kamau.
Ten finalists in the Samsung Colors of Kenya campaign will have their work displayed across the country in Kenya’s first Digital Gallery.
The campaign was created to provide consumers with an experience of Samsung’s revolutionary Super Ultra High Definition (SUHD) TV as well as other Samsung premium TVs currently in the Kenyan market, and to also encourage Kenyans to capture the country’s riveting beauty by adding their personal touch of creativity.
The finalists are amongst hundreds of photography enthusiasts who took part in the campaign that was launched last month. Participants submitted their photos through Instagram and Facebook with the hashtag #SamsungColorsOfKE. The photographs will be displayed on 100 Samsung Premium TVs – Series 7 and above- across its accredited retail stores countrywide.
“As part of our SUHD TV marketing drive, we thought that it would be a great idea to celebrate the creativity of local talent by showcasing Kenyan photos on our premium TVs,” said the Samsung Head of Marketing& Communication, Patricia Kingori.
“We launched this campaign last month with an Instameet, an interaction of visual artists and photographers, around the theme of Samsung Colors of Kenya, which aligns with the nano-crystal color technology of the Samsung SUHD TV. It gave them an opportunity to share their creative work and exchange ideas,” added Ms. Kingori.
The high-resolution photos will be displayed on the gallery until Monday 16th November. They will also be shared on Samsung Kenya’s social media profiles to promote the upcoming photographers.
The Super Ultra High Definition (SUHD) TV, which is a flagship Samsung Smart TV, comes integrated with internet capability,on-demand streaming media and home networking access.
Far from the normal traditional broadcast content, the SUHD TV is set to redefine your entertainment pleasure to stunning life proportion, revealing a brighter, more authentic picture, with a wider range of colors made possible by Samsung’s breakthrough nano-crystal color technology.
It uses Samsung’s very own Tizen operating platform to provide a seamless experience with advanced compatibility and multi-tasking abilities, offering easy convergence and a wide variety of customized content.
Kenya’s first digital gallery launched through Samsung super HD TV
Kenya’s first digital gallery launched through Samsung super HD TV
Allan Oyier, Samsung East & Central Africa General manager Consumer electronics Division, and the overall winner Siegmund Kamau.
Ten finalists in the Samsung Colors of Kenya campaign will have their work displayed across the country in Kenya’s first Digital Gallery.
The campaign was created to provide consumers with an experience of Samsung’s revolutionary Super Ultra High Definition (SUHD) TV as well as other Samsung premium TVs currently in the Kenyan market, and to also encourage Kenyans to capture the country’s riveting beauty by adding their personal touch of creativity.
The finalists are amongst hundreds of photography enthusiasts who took part in the campaign that was launched last month. Participants submitted their photos through Instagram and Facebook with the hashtag #SamsungColorsOfKE. The photographs will be displayed on 100 Samsung Premium TVs – Series 7 and above- across its accredited retail stores countrywide.
“As part of our SUHD TV marketing drive, we thought that it would be a great idea to celebrate the creativity of local talent by showcasing Kenyan photos on our premium TVs,” said the Samsung Head of Marketing& Communication, Patricia Kingori.
“We launched this campaign last month with an Instameet, an interaction of visual artists and photographers, around the theme of Samsung Colors of Kenya, which aligns with the nano-crystal color technology of the Samsung SUHD TV. It gave them an opportunity to share their creative work and exchange ideas,” added Ms. Kingori.
The high-resolution photos will be displayed on the gallery until Monday 16th November. They will also be shared on Samsung Kenya’s social media profiles to promote the upcoming photographers.
The Super Ultra High Definition (SUHD) TV, which is a flagship Samsung Smart TV, comes integrated with internet capability,on-demand streaming media and home networking access.
Far from the normal traditional broadcast content, the SUHD TV is set to redefine your entertainment pleasure to stunning life proportion, revealing a brighter, more authentic picture, with a wider range of colors made possible by Samsung’s breakthrough nano-crystal color technology.
It uses Samsung’s very own Tizen operating platform to provide a seamless experience with advanced compatibility and multi-tasking abilities, offering easy convergence and a wide variety of customized content.
Read more here >> Capital Business
Thursday, October 15, 2015
News24.co.ke | Kenya to hold 2016 Olympic marathon trials
Kenya will hold trials to pick the 2016 Olympic Games marathon teams next February in a bid to improve the country's performance in Rio de Janeiro, officials said Thursday.
Read More here >> News24
Read More here >> News24
News24.co.ke | Athletics Kenya lifts ban on two foreign managers
Athletics Kenya announced the lifting on a six-month suspension on two foreign managers of the country's top marathon runners Dennis Kimetto and Wilson Kipsang.
Read More here >> News24
Read More here >> News24
News24.co.ke | Liverpool need to play like 'best dream' says new boss Klopp
Juergen Klopp said he is only interested in what Liverpool will do in the future, not where they have been going wrong, when he held his first pre-match media conference on Thursday.
Read More here >> News24
Read More here >> News24
News24.co.ke | Everton’s Baines to return in two weeks, says Martinez
Everton defender Leighton Baines is two weeks away from a return to first team action after spending the last five months on the sidelines with an ankle injury.
Read More here >> News24
Read More here >> News24
News24.co.ke | As usual, Real Madrid looks to Ronaldo for goals
With the Spanish league returning, Real Madrid looks to Ronaldo to provide goals _ as usual.
Read More here >> News24
Read More here >> News24
News24.co.ke | Wenger waiting for injury update on red-hot Sanchez
Arsene Wenger is waiting to see if in-form Chilean striker Alexis Sanchez will be ready to play against Watford when the Premier League resumes after the international break on Saturday.
Read More here >> News24
Read More here >> News24
World Bank says Kenya’s spending unsustainable
The Bank revised downward Kenya’s 2015 economic growth forecast to 5.4 percent from six percent as well as its 2016 growth forecast to 5.7 percent from a previous estimate of 6.6 percent.
The bank says the current increase in government spending is not sustainable citing that the overall fiscal deficit of 8.3 percent of Gross Domestic Product (GDP) in 2014/2015 financial year and a budgeted 8.7 percent of GDP in 2015/2016 is high by any standard.
Fiscal deficit is the difference between the government’s expenditures and its revenues excluding the money borrowed.
World Bank Senior Economist John Randa highlighted the duplication of functions at the national and county level and the strong appetite for spending at both levels of government that has worsened Kenya’s fiscal position.
He says that lack of fiscal consolidation is raising jitters in the market over whether Kenya has a twin deficit problem.
“The revision of Kenya’s economic growth downward reflects the strong headwinds the economy is facing in foregoing exchange market and the money market and the monetary policy response to calm those fears,” said Randa.
Kenya’s shilling has lost 14 percent against the dollar this year and interest rates have climbed with the Central Bank Rate going up 300 basis points to 11.50 percent up from 8.5 percent.
Central Bank of Kenya (CBK) has also raised the Kenya Bankers Reference Rate (KBRR) to 9.87 percent from 8.5 percent effective 7th July 2015.
According to World Bank, debt sustainability analysis done in 2015, Kenya is at a low risk of debt distress as overall debt remains sustainable in the medium term.
“The reorientation of public debt toward external debt is consistent with Kenya’s 2015 medium term debt strategy, which aims to slow domestic debt growth in order to stabilize liquidity and reduce interest rates in domestic financial markets,” Randa said.
He says that Kenya’s external and total public debt are below the World Bank threshold.
The World Bank also urges the government to work on reducing the imbalances in the external account in a bid to boost the shilling as the country’s current account remain high at 9.8 percent in June 2015.
Kenya’s export sector has been lagging behind since the mid 1990s hence as Randa says, policy makers need to focus on increasing production of traded goods and services to enhance the country’s capacity to earn foreign exchange and boost its external sector.
Read more here >> Capital Business
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