Insights into the new IMF SDR allocation – What that means for Kenya

Opinion Editorial

By Eva Wanjiku Otieno, Principal, Africa Strategy, Standard Chartered Bank

31^st May 2021. The IMF has proposed a USD 650bn increase to its existing Special Drawing Rights (SDR) reserves. This could triple existing SDR reserves, boosting the IMF’s international reserve assets for member countries around the world. This initiative seeks to provide additional liquidity support to member countries (without adding to their debt burden) and to the global economic system to help deal with the coronavirus shocks to member countries’ economies. The tripling of the IMF’s reserves will require approval from the IMF Executive Board, that we expect to meet in June, and the IMF Board of Governors. The member countries could receive the new SDR allocations as early as Q3-2021.

The Special Drawing Right is an interest-bearing reserve asset (interest of 0.05%) created by the IMF in 1969. It is based on a basket of five currencies – the USD, EUR, CNY, JPY and GBP. SDRs can be freely exchanged for these currencies. One SDR was worth USD 1.44 as of 26 May 2021. IMF financing is normally priced in SDRs, with the recent IMF ECF/EFF arrangements for Kenya (approved on 2 April) at SDR 1.655bn (USD 2.34bn).

The current SDR developments are important, as IMF member countries will benefit from the USD 650bn new SDR allocations. The increase will be distributed proportionately (according to the IMF quota or how much a country has contributed to the IMF). Kenya is a member of the IMF, and according to its quota, it may receive c.USD 740mn once the new SDR allocation is approved.

For African economies, the size of the new SDR allocations would amount to c.USD 33bn – close to the RCF and RFI lines extended in 2020. But a large proportion, c.USD 500bn of the USD 650bn would be for the top 25 countries by IMF quota share. France (a G20 economy), the IMF and the African Union (AU) are lobbying for a reallocation of SDRs by wealthier countries that do not need them to countries that do need more financing support.

This narrative was backed at the Africa Financing summit which was held in the week of 18 May 2021. At the summit, France called for Africa’s new SDR allocation share to triple and the IMF managing director suggested that this additional reallocation could be done through the Fund’s Poverty Reduction and Growth Trust (PRGT). The PRGT includes three concessional facilities, including the Extended Credit Facility (ECF), the Rapid Credit Facility (RCF) and Standby Credit Facility (SCF) – all of which have been extended to Kenya at some point (ECF/Extended Fund Facility in 2021), (RCF in 2020) and (SCF/Stand By Arrangement in 2016).

ORAL NICOTINE CAN BE A LIFESAVER FOR TOBACCO CONTROL IN AFRICA

Opinion Editorial.

Innovative, non-tobacco products have immense potential to reduce tobacco-related harm, disease and premature death

By Dr Kgosi Letlape, Physician and President, Africa Harm Reduction Alliance (AHRA), Joseph Magero, Chairman, Campaign for Safer Alternatives (CASA) and Dr Delon Human, Physician and CEO: Africa Harm Reduction Alliance (AHRA)

Several African governments still employ the ‘quit or die’ approach to reduce its death toll from smoking. Unfortunately, this approach has led the continent down the wrong road, with unnecessary disease and death for those smokers who cannot quit. A change of attitude could open the door to a potential lifesaver that is particularly suitable to African habits and tastes.

There is global consensus that the main danger in tobacco is combustion. Moreover, there is increasing agreement among scientists worldwide that non-combustible, smoke free nicotine alternatives can help prevent tobacco-related disease and premature death. These include innovative products such as smoke-free nicotine pouches, e-cigarettes and heated tobacco products, all of which can help smokers to quit, or switch from traditional “combustible” cigarettes to a less harmful alternative.

The proven success of these products shows that tobacco control should no longer simply follow the ‘quit or die’ approach, which is so obviously failing in Africa.

The World Health Organization (WHO) states that 80% of the world’s more than 1 billion smokers live in low-and middle-income countries. While the number of smokers in Africa is still lower than North America and the East Mediterranean, that number is growing at the fastest rate in the world. The WHO predicts that the number of smokers on the continent will grow by 5 million between 2020 and 2025. 

Often, unequal access to essential health products undeniably drives significant disparities in health statistics around the world. This includes access to traditional, costly nicotine replacement therapies associated with tobacco control in the West.

Therefore, it is high time for African governments to take a fresh look at effective measures to prevent tobacco-related disease and premature death. There is hope. The encouraging success of lower-risk nicotine products demands the need for Africa to take a fresh look at its approach to nicotine. Tobacco harm reduction (THR) science and products provide a fire escape for African smokers.

At the core of THR is this: if we are serious about saving lives, the first step is to acknowledge that the real harm from cigarettes is caused not by nicotine, but by the burning of tobacco, which releases thousands of dangerous toxicants.

If you eliminate the burning, you reduce the harm. It is a message that THR advocates have embraced across the globe.

Public Health England (PHE) states that alternative nicotine products are roughly 95% less harmful than smoking cigarettes;  a significant finding that is backed by several anti-tobacco groups including  Cancer Research UK, the Royal College of Physicians and Action on Smoking and Health (ASH).

In addition, health bodies in the US, France, Canada and New Zealand back alternative nicotine products as the less harmful option.

Sweden, where smoke free Swedish snus has displaced cigarettes, reports the lowest smoking rates in Europe, while the ratio of Swedish men suffering tobacco-induced cancers is less than half that of the EU average. Furthermore, Sweden has the lowest incidence of tobacco-related diseases in the European Union.

These statistics from Sweden may be the most pertinent for Africa, where there is a tradition of using oral stimulants and where the consumption of smokeless tobacco is already the
second highest in the world.

Containing zero tobacco, the composition of oral nicotine pouches suggests that they should have among the lowest risk profiles of available alternative nicotine products. They are close to that of medically licensed nicotine replacement therapies (NRT).

The pouch involves no burning. Resembling a small tea bag, it is placed between the lip and the gum, where saliva and general moistness of the mouth work to release the nicotine into the system. Once used, the pouch is usually discarded into the disposable compartment of the can. It does not require refrigeration and, unlike vaping products, does not require any batteries.

Tobacco harm reduction deniers like to cause confusion by erroneously merging oral nicotine pouches with snus and kuber (smokeless tobacco packed in small sachets) However, such comparisons are dangerously misguided. Unlike Swedish snus and kuber, oral nicotine pouches do not contain any tobacco at all.

The fact is that oral nicotine pouches do not require combustion (no emissions), and contain no tobacco or the thousands of chemicals present in cigarette smoke (reduced exposure). Therefore, these products represent immense potential for the reduction of tobacco-related harm in Africa. Not only can they benefit individual health, but they can also play a major role in reducing the tobacco burden on population health.

Still, it is puzzling that policymakers in Africa appear reluctant to embrace such innovation.

Tobacco control efforts on the continent have concentrated on increasing tobacco taxes, restricting or banning advertising, adding or expanding warning messages and restricting smoking in public areas – advocating just quitting, without offering a viable alternative.

These strategies are clearly not working. In Kenya, for instance, one in three smokers want to quit, but only 7% of those who make a quit attempt succeed. These smokers need access to cost-effective alternatives, to reduce harm, especially if they will not or cannot quit combustible tobacco. 

Given the net health benefits of switching from cigarettes to any of the less harmful products, this trend should be welcomed and accelerated in Africa. It is as simple as that. And consumers – indeed, the public in general – should be educated about the relative harms of products that contain nicotine, and understand their benefits, too.

Tobacco-free nicotine pouches represent an encouraging new solution in the world of tobacco control and harm reduction. It is a solution, where burning of tobacco and inhalation have been eliminated. Better yet, this chapter may change the story of Africa’s poor record on smoking cessation.

FAMILY BANK POSTS 71.3% PROFIT GROWTH IN Q1’2021

NAIROBI, KENYA, MAY 27, 2021 – Family Bank Group posted KES 728.8 million Profit Before Tax for the first quarter of 2021. This is a 71.3% increase in earnings compared to the KES 425.6 million reported in Q1’2020.

Net interest income rose by 27.2% to KES 1.8 billion supported by the increased lending as the loan book expanded by 15.9% to KES 61.4 billion, which is KES 8.4 billion growth from Q1, 2020. Customer deposits grew by 18.3% quarter on quarter to close at KES 72.5 billion while total assets grew by 14.9% to KES 94.8 billion.

Non funded income marginally decreased from KES 714.9 million to KES 711.2 million at the back of the waiver of mobile banking charges to customers. During the same period, operating expenses marginally increased by 4.6% to KES 1.8 billion.

Family Bank CEO Rebecca Mbithi during the announcement of Q1 financial results. Images courtesy Beverlyn Naliaka

“We continue to execute our 2020 – 2024 strategy which positions the bank as a strong SME bank. Our strategy execution is on course, and we remain optimistic that the operating macro-economic environment will improve in the remaining part of the year.  We are happy that a significant number of customers, who were affected by COVID-19 pandemic in 2020, are slowly getting back on track as we continue to support their growth,” said Family Bank CEO Rebecca Mbithi.

Loan loss provisions rose to KES 360.1 million to support our customers against the adverse economic effects of the pandemic. The Group recorded a decline of 4.7% in net non-performing loans for the three months under review showing the resilience of our clients. 

The Bank’s core capital grew by 11% to stand at KES 12.6 billion compared to KES 11.4 billion in Q1’2020. Liquidity remained significantly above the minimum requirement of 20% at 32.4%.

Kenya to hand over chairmanship of Shelter Afrique’s AGM Bureau to Cameroon

·   Cameroon’s Minister of Housing and Urban Development Hon. Célestine Ketcha Courtès to assume the Chairmanship of the AGM Bureau during the Company’s 40^th AGM.

Nairobi: May 27, 2021: Kenya’s Transport, Infrastructure and Housing Cabinet Secretary James Macharia who is the current Chairman of Shelter Afrique Annual General Meeting (AGM) Bureau will hand over the mantle to Cameroon’s Minister of Housing and Urban Development Hon. Celestine Ketcha Courtes at the Company’s 40^th AGM and annual housing symposium scheduled to take place between 20^th – 26^th June 2021 in Yaoundé, Cameroon.  

Transport Cabinet Secretary James Macharia and Ceo of Shelter Afrique Andrew Chimphondah

Hon. Courtes was elected the 1^st Vice-Chairperson of the AGM Bureau at the Company’s 39^th AGM held in Nairobi.  She will be deputised by Zimbabwe’s Minister of National Housing and Social Amenities Hon. Daniel Garwe.

Dr Steve Maind, James Macharia and Mr Andrew Chimphondah Images Courtesy Mike Omuodo

Chairing the General Assembly meeting held virtually from the Shelter Afrique Headquarters in Nairobi, on the 26^th May,2020, Hon. Macharia briefed the Ministers of Cameroon and Zimbabwe on the performance of the Company during his tenure. He thanked the shareholders, his fellow Ministers present from Cameroon and Zimbabwe, the Shelter Afrique Board Chairman, Dr Steve Mainda EBS, Chief Executive,Mr Andrew Pandeka Chimphondah for their unrelenting support during his tenure.

“When I assumed the Chairmanship of Shelter Afrique AGM Bureau at the Company’s 38^th AGM in Morocco, no one had foreseen a pandemic of COVID-19 magnitude. Despite all the challenges we were able to adapt fast to the new realities. I am happy to announce that the Company’s performance surpassed our expectations. The Company turned around and posted a profit of US1.85 million in 2020 in spite of the challenges of the pandemic. Shareholder contributions to Shelter Afrique doubled in support of the revived well governed institution. I am certain that the incoming leadership will enjoy similar goodwill from shareholders, the board of directors, management and staff ,” Hon. Macharia said. 

While thanking shareholders for endorsing her, Hon.  Courtès thanked Hon. Macharia for his  effective leadership of AGM Bureau. She further assured him that the plans to host the best ever 40^th AGM and 40^th Anniversary for Shelter Afrique were at an advanced stage and that the beautiful hard working people of  Cameroon were well prepared and eager to host the 44 Housing Ministers and 44 Finance Ministers that would be arriving in Yaounde,Cameroon from the 20^th to the 25^th June 2021.

“We are looking forward to hosting the Finance Ministers and Housing Ministers that will be present from the 44 member countries, Africa Development Bank, Africa-Re, global lenders from EIB, AFD, BOAD, KfW, NCBA, Ghana International Bank and other key stakeholders in the housing and financial sectors as we seek to collectively find pragmatic solutions to the housing crisis in Africa, more so during this post-COVID-19 era. As a country, we are committed to host,” Mrs. Courtes said.

Appreciating Mr. Macharia for his great leadership and welcoming Mrs. Courtes as new Chairperson and Honorable Garwe as new Vice-Chairman, Shelter Afrique Chief Executive Officer Andrew Chimphondah promised that this year’s AGM will go beyond the financials, not just because of the prevailing situations presented by a global pandemic but because the Company will also be marking its 40^th Anniversary.

“In most cultures, 40 is a significant milestone; milestones offer us an opportunity to congratulate ourselves and enjoy our accomplishments. More importantly, they are a moment for us to reflect and consider what happens next. That is why the theme for this year’s AGM is Four Decades of Affordable Housing Policies in Africa: Mapping the Next Forty Years. Our 40^th year will be one of retrospection. We believe as we navigate this new decade and the realities that this pandemic has thrown into sharp relief, there is a need to review Africa’s housing policy environment. Not merely to measure growth, successes and challenges but, more importantly, to forecast the next forty years to shape policy for our member-states and the way we approach low-cost large-scale delivery of housing in Africa,” Mr. Chimphondah said.

Mr Chimphondah also thanked the Bureau members for their stewardship during the pandemic, and noted that it had enabled The Company to record its first profit in five years and successfully conclude a Debt Restructure Agreement with global lenders. This marked the effective turnaround The Company from previous woes.

Noting the limitations presented by COVID-19 pandemic on travel and gatherings, Mr. Macharia said this year’s AGM will be presented as a hybrid of in-person and virtual attendance.  Shelter Afrique successfully held its first virtual AGM in 2020 in Nairobi, Kenya.

New Shareholders

Another item high on the agenda will be the onboarding of a new Class “B” shareholder and creating further opportunities of Class “C” shareholders for non-African institutions and private companies to invest in the Company as a means of strengthening the Company’s capital structure.

“Already, Fonds De Solidarite Africain (FSA) has expressed interest in joining Shelter Afrique as a shareholder under the Class “B” cluster. At the 40^th AGM, we will be seeking shareholders’ approval, in which case it will become our 47^th shareholder as we strive to onboard the remaining 10 African countries that are not yet members of our great pan-african development finance institution,” Mr. Chimphondah said. 

AGRICULTURE UNDER THREAT AS RESULT OF CHANGES IN EUROPE PESTICIDE POLICY

27th, May 2021

Op Ed.

By Eric Kimunguyi, CEO, CropLife Kenya/ Agrochemicals Association of Kenya

In the months surrounding the birth of our own republic, from 1961 to 1963, a crucial, international organisation was also being born, to assure food safety across the globe.

As a partnership between the Food and Agriculture Organisation of the United Nations and the World Health Organisation, the Codex Alimentarius Commission produces the Codex Alimentarius, which is Latin for the ‘Book of Food’. It contains internationally recognised guidelines, standards, codes of practice and recommendations on food safety, with just two goals: to ensure the health of consumers and fair trade in food.

Yet, today, both are under threat.

Over the 60 years since the Codex was launched, the commission has been led by the world’s top scientists, drawing on every global study to set food safety standards that include assessing pesticides for their impact on human health. To do that, Codex sets Maximum Residue Limits (MRLs) for how much of a pesticide can still be on a crop when it is eaten. These leave plenty of margin for us to eat more than we do and yet still only consume a level of pesticide residue that science has shown does not harm our health.

These limits are based on data on the pesticide molecules and supervised residue trials and toxicological studies that are evaluated by an FAO/WHO panel of experts and a series of FAO/WHO and Codex committees made up of international representatives, including the EU.

The Codex MRL then provides a benchmark against which every food safety system can be set. Crop protection manufacturers must then ensure products are used in ways that do not exceed the MRL. This is driven by how quickly a product’s active ingredients break down – in reactions with air, water, sunlight, enzymes in soils, or over time.

Every chemical behaves differently, so manufacturers carry out studies and provide data to the authorities on how each product breaks down, and this is used to draw up user instructions, for instance, by telling users to allow a specific number of days after application before harvesting, referred to on the product label as the Pre harvest Interval (PHI). This allows ample breakdown and ensure the MRLs are met.

The system has been forged by the world’s top scientists and Codex has been working towards the universal harmonisation of MRLs worldwide. Which is why, in a recent African Union webinar, the US Under Secretary of Agriculture for Trade and Foreign Agricultural Affairs, Ted McKinney, berated Europe, for “its attempts to undermine MRLs”.

For Europe has now changed the way it approves pesticides, with its decisions no longer based on science or international testing on human health. In trade, the EU is, instead, moving many pesticides off the MRLs that ensure human health and putting them onto limits of determination (LoDs), meaning if any part per million of a pesticide can be found, the food is turned away.

It has also stopped registering or reregistering pest control products, despite their approvals everywhere else in the world and the health findings of the WHO, under a new European policy principle, called the Precautionary Principle. The ‘precaution’ is to refuse registration to chemicals where no evidence exists of any human health impact in case they should ever turn out to present a health risk. McKinney calls the principle “highly misguided” and an attack on the capacity of the WHO to judge science and health, and on the FAO, and the rest of the world: and at the loss of up to 40 per cent of agricultural production.

For these reasons, it’s an equation that is causing rancour in the world of agricultural policy. Said McKinney: “When we establish MRLs, we already incorporate multiple, hundreds-fold, even thousand-fold or more of safety factors just to make sure that we have got safety right.”

But the bigger issue for Kenya is the trade barrier the battle is now creating: for Europe’s moves to abandon the global safety system are set to play out catastrophically for our own nation.

Our biggest agricultural market is Europe. Agriculture is the biggest contributor to our livelihoods. But Europe is now moving in multiple ways to prevent us from using crop protection, and simultaneously ban our produce in the event of any pests: while also declaring its intent to push up its own agricultural production.

Which is why, when I was asked recently to speak to several counties about the opportunities for food exporters, I was forced to point out that unless we begin to inform ourselves and take this international food safety, pest control, and MRLs battle seriously, we may have no food export opportunities left.

iColo starts construction of third data center in Kenya

Mombasa, 25 May 2021 – iColo, a market leader in carrier-neutral data center infrastructure in Kenya has today announced the construction of its third data center in Nyali, Mombasa called MBA2. Mombasa is the entry point for new subsea cable systems landing in East  and Central Africa. The new data center is expected to be completed in Q1 of 2022 and set to provide an estimated capacity of 1.6MW megawatt and 1,200 square meters of IT space. 

The expansion plans in East Africa are on track with this new facility which will host over 600 customer racks. The location of MBA2 is in close proximity to subsea cables landing points in Mombasa enabling our customers to deploy and connect their infrastructure at the new site. This new facility will grow its African footprint and help connect approximately 1 billion people to the internet expanding its services to tap into Africa’s expanding internet economy.

iColo Chief Executive Officer Mr. Ranjith Cherickel.

“As a leading data center infrastructure provider, iColo plays a major role supporting digital transformation strategies by enabling businesses to be connected and supported in real-time,” said iColo Chief Executive Officer Mr. Ranjith Cherickel.

“This new facility will be the gateway to 200 Million people living in the region bringing the content closer to the end user thereby reducing latency and improving internet experience for all. The size of the facility is also scaled to reflect the huge growth in connectivity that is unfolding in East Africa. We hope this new Data Center will be home to all new cables landing in the region” added Mr. Cherickel.

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  The New IColo Data Centres. Images courtesy Jayne Wanjau

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  Images courtesy Jayne Wanjau

MBA2 is a greenfield build that is designed to deliver 99.999% uptime for power and cooling. The facility will be PCIDSS and ISO 27001 certified assuring our clients of the highest levels of security.. This expansion demonstrates our commitment to ensure that Mombasa remains the premier connectivity hub in Africa.

Authority Closer to finalizing review of Program Guidelines for the children and local content

Nairobi, May 21^st, 2021: The Communications Authority of Kenya (CA) is finalizing on the review of children and local content programming guidelines, in recognition of the changing nature of broadcasting models.

Unlike under the Unified Programming Code, where both free-to air and pay television providers were required to meet similar set requirements, the proposed new guidelines are ‘service-specific’, applicable only to licensees offering the service in question, for example News, or premium content.

Caption for the Picture: Left to right Dr.Ezekiel Mutua,MBS CEO KFCB, Mrs. Esther Koimett,PS State department for Broadcasting and Telecommunications, Mrs.Mercy Wanjau, MBS Ag. Director General Communications Authority of Kenya,MD MultiChoice Kenya Ms. Nancy Matimu, CA board of Directors member Ms. Julia Yampan during the 4th edition of the KUZA Awards. Courtesy hkstrategies.co.ke

The announcement was made today during the fourth annual broadcasters KUZA Awards by ICT, Innovation and Youth Affairs Cabinet Secretary, Joe Mucheru who also said the review is inline with the Government’s policy objective of facilitating the development of a responsive and responsible local broadcasting industry.

The ICT sector law mandates the CA to prescribe a Programming Code that sets the standards for the time and manner of programmes to be broadcast by licensees. The current Code was developed in 2015 and came to force in 2016.

The review is part of the Authority’s commitment that the Programming Code should be reviewed every two years.

The broadcasting sector guidelines will also expound on the provisions of the Programming Code and cater for emerging broadcasting industry requirements/issues.  

“We are in the process of finalizing the review of guidelines in key areas like Children’s Programming, Local Content and Niche Programming. These revised guidelines seek to seal any existing gaps and bring clarity in the broadcasting content standards,” said Mr. Mucheru.

He also noted that the review is meant to ensure that the measurable parameters of the Code are updated regularly.

With the theme, Preserving our Cultural Heritage through Broadcasting: Kenya a Heritage of Splendour, this year’s awards sought to acknowledge broadcasters who promote patriotism and uphold Kenyan culture, beliefs, and values. The awards also celebrated broadcasters who have contributed towards national unity and cohesion.

Many broadcasters were celebrated at the 4^th annual KUZA Awards under the Regulatory Award Category, People’s Choice Award Category, and the Patriotic Uzalendo Award Category.

Following a public SMS voting process by Kenyans, the following broadcasters emerged as winners of the KUZA People’s Choice award:

1. Favorite Radio Station:
   1. The Standard Group PLC – Radio Maisha
   2. Royal Media Services – Radio Citizen
   3. Royal Media Services – Musyi FM

2. Favorite TV Station:
   1. Royal Media Services – Citizen TV
   2. The Standard Group PLC – KTN Home
   3. Switch TV Limited – Switch TV

3. Favorite Pay TV Service:
   1. GOTV Kenya Ltd
   2. Mutichoice Kenya Ltd.
   3. Startimes Media Kenya

4. Most trusted Radio station for News:
   1. The Standard Group PLC – Radio Maisha
   2. Royal Media Services – Radio Citizen
   3. Royal Media Services – Musyi FM

5. Most TV station for news:
   1. Royal Media Services – Citizen TV
   2. The Standard Group PLC – KTN News
   3. Nation Media Group Limited – NTV

“I am gratified to note that the media has discharged their public interest obligations with distinction. As a result, research has established that 95 per cent of the Kenyan population has a high awareness of the pandemic largely through information disseminated through radio and TV. This is something we are all proud of and we commend the broadcasters for a job well done.,” said Mrs. Mercy Wanjau, MBS, Ag. Director General of the Communications Authority of Kenya (CA).

Speaking at the event, CA Ag. Director General Mrs. Mercy Wanjau, MBS, said that the Authority is aware of the negative impact COVID-19 has had on the broadcasting industry, making it difficult for broadcasters to fully comply with several of the regulatory obligations. The Authority provided a waiver on the local content quotas requirements during the period and leveraged CA’s partnership with the Kenya Film Commission (KFC) to promote the development and funding of Kenyan programmes including production of local content for children and capacity building of local producers.

“During this year’s edition of KUZA, we celebrate broadcasters who promote patriotism, uphold Kenyan culture, beliefs and values and those that made a contribution towards national unity and cohesion, as well as meeting the prescribed threshold of local content,” Added Mrs. Mercy Wanjau, MBS

Mr. Mucheru, challenged broadcasters during the KUZA Awards ceremony to take up the responsibility of having clean content on our airwaves. He further recognized the fact that many broadcasters are making every effort to adhere to the standards as enforced by the sector regulator. He also noted that some industry players have a long way to go in terms offering programming that is suitable for children and that promotes good social values.

Mr. Mucheru lauded CA for cracking the whip on broadcasters that have been found in breach of programming standards, particularly those meant to promote welfare of children.

“We must strive for continued improvement in the quality of our programmes, in generating content that resonates with our immediate realities, and a media that is free and independent.” the ICT Cabinet Secretary added.

Kuza Awards is an annual event that recognizes excellence in the broadcasting industry

Standard Chartered Women in Tech Incubator awards 5 businesses with KES 1 Million funding

20^th May 2021, Nairobi Kenya: The Standard Chartered Bank in partnership with @iBizAfrica-Strathmore University has today awarded 5 participating businesses KES 1,000,000 each in the culmination of the 4^th cohort of the Standard Chartered Bank Women in Tech incubation program. 

The winning firms include: 

• Ecila Films which produces films of authentic African stories 
• Ufasiri Halisi SLI Innovations Limited which focuses on revolutionizing assistive technology for the deaf and hard of hearing
• The Viwanda Africa Group which improves flight safety through a cloud-based AI platform for aircraft maintenance and spare parts planning
• Runnovate which helps business owners save time and reduce the cost of running their businesses by working with a team of virtual assistants.
• Mandevu Beardcare which is a men’s grooming company offering a beard care product line.

The funding recipients were picked after a rigorous judging process undertaken by accomplished professionals from Dry Associates Limited, Viktoria Ventures, Standard Chartered Bank and @iBizAfrica- Strathmore University who judged the businesses on scalability, technology adoption, entrepreneurial and leadership excellence. 

The 4^th cohort of the Women in Tech program was launched virtually on 15th October 2020, attracting 111 applicants, among whom 10 were chosen to participate in the incubation program. Over the last few months these companies have successfully undergone training, coaching and mentorship offered by the @iBizAfrica- Strathmore University network of key industry experts, faculty, business leaders, experienced mentors, and professionals. The incubator theme for the year was Accelerating the digital economy through women owned businesses, and was geared toward businesses that were tech-enabled or those that leveraged on emerging technologies such as IoT, Robotics, Augmented & Virtual Reality, Cloud Computing, Drone Technology and Biometrics among others. The businesses also had to have been in operation for at least 3 months with less than 5 years of operations.

Commenting on this, Kariuki Ngari, CEO & MD, Standard Chartered Bank Kenya & East Africa said, ‘’Sub Africa has a substantial number of women entrepreneurs, yet female led tech startups only account for a very few of these. This is despite research showing that technology firms led by women experience a 35% higher return on investment. Having this in consideration and through engagement with the past participants of the program, we understand that there is a need for enabling ecosystems for women entrepreneurs especially in the technology space which carries enormous potential for growth across many industries.’’

‘’Our partnership with Strathmore University’s @iBizAfrica, aims to bridge this gap by offering entrepreneurial training, incubation and financial support which are all instrumental in building sustainable businesses. Amid the pandemic, the 10 businesses chosen to participate in the 4^th cohort remained stable with some recording an increase in turnover since joining the incubation program. Their success reflects the enormous potential and opportunities that lie in women led tech startups and calls for further investment in programs that support entrepreneurial and leadership excellence. We are proud of all the applicants and participants of this year’s Women in Tech program and look forward to seeing their businesses thrive even as we continue running the program for further impact. ‘’ he added.

Adding to this, Dr. Joseph Sevilla, Director @iBizAfrica and @iLabAfrica Research and Innovation Centre, Strathmore University said, “@iBizAfrica Centre is proud to have worked with the 10 businesses participating in the 4^th cohort of the WIT Program. During this incubation period, we’ve seen these impressive women led businesses increase the number of staff, carry out product enhancements, receive funding and obtain new clients. These milestones are very encouraging and a testament of the success of the program and we look forward to facilitating the growth and scalability of even more enterprises across the continent.’’ 

Some of the past participants of the program have recorded a massive increase in revenue since incubation and secured further independent seed funding.

Women in Tech program is part of the Bank’s community engagement strategy, Futuremakers by Standard Chartered, that aims at tackling the issue of inequality and promoting greater economic inclusion for young people in various communities and economies, with a focus on girls and women. The program is in partnership with @iBizAfrica – Strathmore University Incubation Centre.

Each year the program trains more than 10 small and medium businesses leveraging on technology by offering mentorship, advisory, coaching, networking opportunities, access to seed capital and investor forums that help mould their businesses to international standards. 30 start-ups have participated to date, and 15 have been awarded one million each in seed funding. 41 businesses have so far gone through the incubation process with the first four cohorts attracting 1,150 applications.

NOKIA INVITES DEVELOPERS IN Android 12 FOR NEW X20

NAIROBI, 19^TH MAY 2021 – HMD Global, the home of Nokia phones, today reveals that the Android ^TM 12 developer preview programme will be coming soon on the Nokia X20, allowing developers to get their first taste of the next step in Android innovation.

The Android 12 developer preview programme empowers developers to create, test and finesse their apps ahead of the highly anticipated launch of the new operating system later this year. App developers will have the chance to sink their teeth into the latest version of Android with the Nokia X20 from Q3 2021.

Stephen Taylor, Chief marketing Officer HMD Global, said:

“We’re extremely excited to announce, due to our close partnership with Google, that we will soon be able to offer access to the first Android 12 beta.’

“We understand that people want to use their phones for longer, and with a Nokia phone, it’s not just hardware durability which comes as standard. A smooth software that performs as new for years is just as important, which is why we want to work closely with our developer community on creating the best possible user experience. Longevity is the foundation of our new line-up of Nokia smartphones, so we offer up to three years of OS upgrades – recognised as one of the most comprehensive offerings in the smartphone market and continue to be the market leader in security updates. The Nokia X20 joins a family of devices that have helped shape Android for years.”

“We can’t wait to receive feedback from our community of dedicated Nokia fans, so we can cater to their requirements and continue providing our customers with even more value from the smartphones they love.”

Developers taking part in the programme will be able to collaborate, share ideas and tips with like-minded experts through the Nokia phones community forum. To join the forum, developers can register through the MyPhoneApp available on all Nokia smartphones.  Furthermore, through the Android 12 developer preview programme, app experts can communicate directly in 16 languages with HMD Global’s in-house developer team.

Android ^TM 12 will provide a host of new and updated features for people, such as:

• Supporting AVIF images, so you don’t have to sacrifice the quality of images for large file sizes;
• Audio-coupled haptic feedback for more immersive gaming and audio experiences.
• Refreshed app launch animations for an improved experience.
• Improved privacy and security features ensuring personal data are kept as safe as possible.

The programme provides crucial feedback for the development of the next milestone in Android. With sources from a broad geographical user base and diverse cultures, the analytics and error analyses will help fine-tune Android 12 for end-users.

BeautyClick pens exclusive deal with top Italian cosmetic brand NOUBA

• The exclusive Agreement with Nouba By Matisse S.R.L. (NOUBA) deepens BeautyClick’s e-commerce inventory of international brands and its commitment to bring great and genuine beauty products to the Kenyan consumer

Nairobi, 17 May 2021 – BeautyClick has announced its exclusive distribution partnership with Italian cosmetic brand NOUBA, with the aim of further establishing the brand and its fundamental approach to beauty to the Kenya and the East Africa region.

Speaking during the announcement, BeautyClick CEO, Queenta Ndanu said: “For the contemporary woman, makeup highlights her beauty and femininity. The use of lipstick has come a long way in becoming a fundamental part of a woman’s dressing. As such we are happy to deepen our relationship with Nouba to offer our customers high quality and innovative beauty products to match their different looks.”

Nouba is a historical Italian makeup brand with presence in more than 40 countries all over the world. The brand offers a full range of makeup products including the well-known Millebaci lipsticks and Noubamat foundations, that meet the modern woman’s expectations and needs. With the exclusive partnership, BeautyClick will introduce Nouba’s full range of products not yet available in the market, and in partnership with Nouba develop new products that specifically cater for the East African consumer.

The exclusive agreement will make BeautyClick the sole distributor of the Nouba brand in the East African region, further establishing BeautyClick as the main beauty destination for genuine and original products from local and international brands.

Speaking on behalf of Nouba By Matisse S.R.L., Roberto Petrucci, CEO said: “We are extremely excited to deepen our relationship with a platform as coveted as BeautyClick. This exclusive partnership signifies a major steppingstone for us as a successful Italian brand in bringing to our Kenyan and East African consumers innovative makeup products.”

“Additionally, this partnership signals our brand’s commitment to the Kenyan and East African consumer by offering consumers products that caters for them and will go a long way in transforming their daily beauty routines.”

Since inception, BeautyClick has transformed the entire hair and beauty industry having been the first exclusively online beauty marketplace in Kenya. The company has so far enlisted more than 25 local and international beauty brands and in the process offering direct and indirect employment to approximately 20 Kenyans.