The Public Space Network, an organization concerned with improving public green spaces in Urban informal areas early today held a meeting with various stakeholders at the Memorial Park Nairobi to look into how the youth can be incorporated in improving the public green spaces in the neighbourhoods where they live.
A Picture of a Public Space rehabilitated by Dandora youth. Before and after rehabilitation. Images courtesy Clive Ayuko
The youth living in various informal settlements to include Korogocho slums and Dandora who have for the past 8 years been involved in the rehabilitation of public spaces in their neighbourhoods have also faced a number of challenges to include harassment by local authorities who have in the past accused them to taking a role which is not their mandate.
The meeting was held to seek solutions on how all stakeholders involved in management of public green spaces can work together, look into how management of green spaces can be sustained, and reduction of crime in such neighbourhoods as there are studies conducted which showcase the correlation between urban clean neighbourhoods and the low level of crime.
Dr. Kevit Desai, Principal Secretary, Ministry of East African Community and Regional Development of the Republic of Kenya, Mrs. Maureen Mba, Head Mansa Business, Afreximbank, Ms. Emily Waita, EABC Board Director joined by Mrs. Mary Ngechu, EABC Board Director, Mr. John Bosco Kalisa, EABC CEO, Dr. Habil Olaka, Chief Executive Officer, Kenya Bankers Association (KBA), Mr. Victor Ogalo, Deputy Chief Executive Officer, Kenya Private Sector Alliance (KEPSA), Mr. Samuel Matonda, Chief Executive Officer, Kenya National Chamber of Commerce & Industries (KNCCI), Mr. Job Wanjohi, Head of Policy Research & Advocacy, Kenya Association of Manufacturers (KAM) and Mr. Anders Lindgren Chief Executive Officer, Safal Group officially launched the African Due Diligence Platform in Nairobi, Kenya.
From Left: John Bosco Kalis Chief Executive Officer East Africa Business Council, Maureen Mba Head of MANSA Initiative Afrexim Bank and Ms Emily Waita (Representing Chairman EABC Mr. Nick Nesbitt) during the launch of the MANSA Due Diligence Platform. Images courtesy Clive Ayuko.
Speaking at the launch, the Chief Guest, Dr. Kevit Desai said “There can be no AfCFTA without the full participation of African economic operators – private-sector players who have to operationalize the agreement. He said the Government of Kenya is keen on supporting businesses to access markets on the African continent and beyond through easing the regulatory framework and promoting exports for industrial, agricultural and services products.
On her part, Ms. Emily Waita representing EABC Chairman Mr. Nick Nesbitt said “The Mansa Digital platform is one of the digital tools EABC is rolling out to enable SMEs and Corporates to find new partners to scale up their industries across the continent and support business recovery”.
“We salute EAC Heads of State for ratifying the AfCFTA as implementing the agreed commitments is vital to realize the benefits of the 1.2 billion continental market,” said Ms. Waita. She urged the Republic of South Sudan to also ratify the AfCFTA.
She said “In 2020 Kenya’s intra-Africa exports stood at US$2.28 billion – a 4.5% increase compared to 2019”
On her part, Mrs. Maureen Mba, “Afreximbank is committed to working with public and private sector to transform Africa’s trade and industrialization.”
She elaborated that AfCFTA breaks the barriers to trading across Africa corridors and called upon Africa to transform its trade and industrialization in order to boost intra-Africa trade from the current 16%.
She said, “ the Mansa platform will facilitate SMEs to get an African Entity Identifier (AEI) supporting financial transactions and Know Your Customer service in Africa.”
She stated that said 70%-80% of raw materials used across the globe are from Africa hence the need for more value addition to converting African resources into finished goods ready for export to the continent and beyond.
On his part Mr. Kalisa said, “trade information is important for b2b engagement – the Mansa digital platform builds confidence and trust among businesses in East Africa and Africa.” He elaborated trade information, improving productive infrastructure & capacity, access to finance, market factor integration, vaccination and fiscal incentives to businesses form the backbone for the economic recovery of the EAC bloc and will reposition the region to tap into the AfCFTA market.
On his part, Mr. Wanjohi said “Infrastructure development and connectivity, custom documentation & procedures, Rules of Origin under the AfCFTA is important to facilitate movement of goods across Africa borders” He said women are set to benefit from the AfCFTA market and the EAC bloc should reduce the cost of doing business and enhance competitiveness.
Mr. Victor Ogalo said “EAC bloc should boost the productive capacity of exports to the continent and ride on the huge infrastructure development”
He stated AfCFTA is set to boost manufacturing output to USD930billion by 2025 from 500bilion in 2015 and called for deliberate policy commitments to integrate East African SMEs in the manufacturing value chains.
Dr. Habil Olaka, said “COVID-19 disruption has reemphasized on importance of data management and data-driven insights and solutions for resilience of financial services sector” He said the Mansa platform supplement and optimize the established frameworks on credit access& appraisal and bridge information asymmetry between banks and MSMEs.
He elaborated the Mansa platform supports Kenyan banks to undertake due diligence on customers and as they spread their wings into the EAC and Continent.
Mr. Samuel Matonda, Mansa platform is an African solution promoting the trust needed to seamlessly trade under the AfCFTA.
The launch was attended by over 100 business captains, leading women in business, industry champions based in Kenya.
The MANSA digital platform provides a single primary source of Know-Your-Customer (KYC) data required to conduct customer diligence checks on counterparties in Africa with a special focus on African Corporates, SMEs and financial institutions. The MANSA digital platform reduces risks to intra-African trade such as increased financial crime and reduces the high-cost acquisition of Customer Due Diligence.
Trade and Industrialization Principal Secretaey Dr Kevit Desai in Glasses leads the launch of the MANSA Africa Due dilligence platform for Investors. The event was held at the Villa Rosa Kempinski Hotel in Nairobi.
Interior and Coordination of National Government Principal Secretary Dr. Karanja Kibicho who was chief guest( Representing Dr Fred Matiangi CS Interior) addressing member of the press during the event held at the Kenya Institute of Curriculum Development.
NAIROBI, Kenya, Oct 27 2021 – Kenya’s sensational sprinter Ferdinand Omanyala has been named the LG Sport’s Personality for the month of September.
Omanyala achieved the feat following his stellar performance at the Kenyan round of the prestigious 2021 World Athletics Continental Tour Gold Series, Kip Keino Classic held September 18 in Nairobi, where he smashed his own National Record and setting a new African Record of 9.77 Secs, smashing South Africa’s Akani Simbine’s record of 9.84 Secs.
This is after he finished second in the 100m that was won by American Trayvon Bromell in a World Lead time of 9.76 Secs while former Olympic and World Champion Justin Gatlin was third in 10.03 Sec.
To win the September Award, Omanyala floored other top nominees including the late Agnes Tirop, who had clocked a women’s only 10 km world record of 30:01 at the Adizero Road To Records meeting in Germany, slashing 28 seconds from the previous world record.
Other nominees were Malkia Strikers captain Mercy Moim, who was the best receiver at the CAVB Women’s African Nations Championship in Rwanda where Kenya took silver after losing to perennial rivals Cameroon.
Sharon Chepchumba who was the best attacker, Gladys Ekaru who was the best blocker and Noah Kibet who won the 800 metres race at the Kip Keino Classic by clocking 1:44.97 were the other nominees.
In winning the coveted monthly award, Omanyala took home an LG SolarDOM Oven worth Ksh 65,000 which is a 3-in-1 oven that is used for heating, grilling and baking.
Omanyala joins the growing list of winners to clinch the LG monthly award which includes tennis star Angela Okutoyi (January), basketballer Tylor Okari of Kenya Moran’s (February) boxer Elly Ajowi (March), world marathon champion Ruth Chepng’etich (April), Milan marathon winner Titus Ekiru (May), World Rally Championship (WRC) Safari Rally WRC3 winner Onkar Rai (June), Victoria Reynolds (July) and Faith Kipyegon (August).
LG Electronics East Africa Managing Director Sa Nyoung Kim congratulated the star runner saying he is a living example as the country seeks to make a mark in sprints.
“Kenya has dominated middle and long distance running from the days of yore. Omanyala’s sterling heights in Kip Keino Classic will no doubt motivate a generation of runners to take up the breakneck 100m challenge at continental and global levels,” the LG boss said.
He added, “On a sad note, I also take this opportunity to condole with the family of our September nominee Agnes Tirop who was laid to rest last week. As a Company, we are proud to be a part of an initiative which rewards excellence. Our partnership with SJAK goes a long way in appreciating athletes’ talent while also empowering them to be the backbone of sports in the country.”
SJAK Treasurer Alex Isaboke, on his part, thanked LG Electronics for their unswerving support saying the partnership continues to make a huge difference in the promotion of sporting activities across the country.
…investors offer KSh37.9 billion in Kenya’s single largest non-infrastructure corporate bond
…245 percent oversubscription a demonstration of confidence in EABL’s business strategy
Nairobi, Kenya, Tuesday, October 26, 2021: East African Breweries Plc has received applications for Notes amounting to KSh37.9 billion for its KShs 11 billion Medium-Term Note issue, representing an overall subscription of 345 percent, in Kenya’s single largest non-infrastructure corporate bond offer. This means that the issue was oversubscribed by 245 percent.
EABL said applicants in the offer, which was open for 15 days beginning October 6, 2021, will be allotted Notes of a minimum KShs 100,000 and the balance on a pro-rata basis in multiples of KSh10,000. The Notes will begin trading at the Nairobi Securities Exchange (NSE) in the coming week.
EABL Group CEO, Mrs. Jane Karuku, said the oversubscription is a demonstration of investors’ confidence in East Africa’s largest manufacturing business which will celebrate its centenary next year.
“We issued this Medium-Term Note based on our proven track record in the debt capital markets and we are pleased that investors have resoundingly expressed their confidence in this business, and the willingness to share value from our growth. The fact that this achievement was delivered in the face of depressed economic conditions further signifies the belief investors have in our strategy as this business turns 100 next year,” said Mrs. Karuku.
Risper Genga Ohaga, EABL’s Group CFO, said: “EABL is a robust player in the capital markets and this expression of confidence will support our strategy going forward. The subscription rate demonstrates that the market has the depth and sophistication to support significant corporate issuances. The application process was delivered through a digital platform, a first in Kenya and we received interest from a diversified group of investors. We are committed to continuously deliver strong returns for our business and investors.”
Commenting on behalf of Lead Arrangers, Absa Bank Kenya Plc Managing Director, Jeremy Awori, said: “Absa Bank and Absa Securities Limited are proud to have worked with our client EABL as the lead arranger on the issue which was extremely successful with an oversubscription from a diverse pool of institutional and retail investors. The overwhelming success has been delivered on the backdrop of a challenging economic environment and is testament to the resilience of our private sector, the growing sophistication of our capital markets, and the important role played by strong financial institutions like Absa in facilitating growth. At Absa, we are committed to continue working with our clients to create financial solutions that match their growth ambitions.”
The five-year, fixed rate instrument is offered at an interest rate of 12.25 percent payable semi-annually. The offer was opened on October 6 and closed on October 21 and will be listed for trading on the Nairobi Securities Exchange from November 1.
EABL’s Medium-Term Note will be the biggest of the issued corporate bonds and commercial papers in the Kenyan market. It was arranged by Absa Bank Kenya Plc and Absa Securities Limited.
The funds will be used to finance investments in expanding production, repay debts taken in the ordinary course of business refinance short-term borrowings and provide working capital.
Speaking during the 9th Pan African Conference on illicit Financial Flows and Taxation early today afternoon at the University of Nairobi Coordinator of the East African Tax Governance Network Mr. Leonard Wanyama Said; ” Double taxation agreements create loopholes which undermine the governments efforts to raise revenue. Double taxation agreements is an agreement signed between two or more states which reduces the amount of tax paid by investors or organizations which may wish to do business in the country or counties which are signatories to such trade agreements.
Mr Wanyama further argued that the scenario has been occasioned by the belief that for countries to attract investments it must lower its taxes. A situation which has made profit hungry institutions to take undue advantage of the lax tax policies and the international or regional financial centres to the detriment of the host nation.
Betting Company Betika late today afternoon donated Football kits to 20 teams in the National super league. Speaking at the Camp Toyoyo Football ground in Nairobi Betika Chief Executive Officer Nicholas Mruttu Said; ” Community league are the lifeline of football and we are honoured to support the development of grassroots football in the country.
Betika Chief Exexutive Officer Nicholas Mruttu with one of the bags containing the donated kits. Images Courtesy Clive Ayuko
The event was also graced by FKF CEO Mr Barry Otieno who said, “Under this sponsorship, each of the 20 competing teams get Ksh 750,000 per annum and in-kind provision of kits, balls, nets and other sports equipment.
Betika is currently the Betika super league title sponsor in a deal worth Ksh 94 million which commenced in 2019.
Nairobi, October 22, 2021: Bar and restaurant operators have pledged to abide by the protocols to limit the spread of Covid-19 and offered to have their establishments become vaccination centres following the reopening.
Image 1 Frank Mbogo, Bar, Hotel and Liquor Traders Association (BAHLITA) Nairobi Chairman speaking at a press briefing. Images courtesy oxygene.co.ke
The operators’ associations have also asked revelers to abide by the rules to avoid a resurgence of infections that would force the Government to come up with the restrictions that have hampered operations since March 2020.
“The hospitality sector has gone through one of the darkest periods in the history of Kenya,” said Frank Mbogo, the chairman of the Nairobi branch of the Pubs, Entertainment and Restaurants Association of Kenya, at a press conference in Nairobi.
The operators said the lifting of the curfew by President Uhuru Kenyatta and the clarification by Health Cabinet Secretary Mutahi Kagwe on opening hours have been a huge relief. They estimate that the combined loss of revenue, jobs and livelihoods in the sector during the pandemic amounts to more than KSh150 billion.
“Allowing people to resume business is the first step towards attaining the economic prosperity that we all crave. We hope that with time, the 15,000 bars that were forced to shut down will revive or come back in another form and the sector will thrive enough to get the more than 90,000 people who lost jobs back at work,” said Mr Mbogo.
The associations said the self-regulating mechanisms set up at the height of the pandemic would continue.
“Our wish, which we can all help fulfill, is to have operations going back to normal and to never have again to shut down. Operators will continue to abide by the Bar Kumi idea, which is a self-regulating mechanism to ensure adherence to the protocols,” said Boniface Gachoka, the secretary of the Bar, Hotel and Liquor Traders Association.
The operators urged the Ministry of Health to establish partnerships with some of them, especially the large establishments, to use their premises as vaccination centres.
“Bars are gathering points for people and like churches, can become one of the places where people can be sure to access vaccines regularly,” said Mr Gachoka.
The operators said such partnerships would come with incentives for drinkers to get vaccinated, such as a drink for everyone who goes for vaccination.
Simon Njoroge, the chairman of the Bar, Hotel and Liquor Traders Association, urged revelers to avoid drinking and driving.
Mr Njoroge said the Interior Ministry should roll out a Rapid Results Initiative to tackle illicit and counterfeit alcohol, which have proliferated during the pandemic.
One of Kenya’s leading manufacturers has this week announced a new kind of financing deal in the Kenyan market, raising more than Sh5bn by selling its own manufacturing plant and warehousing, as buildings, to an international real estate fund, and then leasing the buildings back to continue its manufacturing.
For Orbit Products Africa Limited (Opal), which is the contract manufacturer in Kenya for Reckitt, Colgate-Palmolive and Unilever owned by brothers Sachen and Dirchen Chandaria, the deal has brought in a cash sales price of $53.6m.
However, the Chandaria firm’s manufacturing will continue on the same site, with Opal having agreed a new 25-year lease on the same premises, with an option for a further 10 years.
“At a time when finance is a strained issue everywhere in the world after the unprecedented economic shock delivered by the Covid-19 pandemic, and with our own East African banking system working hard to contain its risk through restructuring existing lending, ‘sale and lease back’ opens a new path to cash injections and finance for manufacturing expansion,” said Sachen Chandaria, CEO of Orbit.
The buyer of the Opal properties, London Stock-Exchange listed GRIT Real Estate Income Group, runs one of Africa’s largest property investment portfolios, and already owns two other industrial properties in the same area around Mombasa Road, being the Imperial Health Sciences logistics facility and another site that GRIT will soon be developing to offer new industrial property.
The group’s expansion across Africa has been rapid, with GRIT moving to the main list on the London Stock Exchange in January 2021.
Under its new deal with Opal, GRIT will now upgrade and expand the Mombasa Road manufacturing facilities to provide factory and middle management space for an additional 100 employees. The redevelopment the plant, which will be built to green certification standards, will also create around 150 jobs during the course of the construction.
For investors in GRIT, properties that secure long-term tenancies of 20 years or more with blue-chip tenants, such as Opal, are considered highly attractive investments.
The social and financial benefits of the sale have also attracted the interest of the international financial institutions, with the IFC arm of the World Bank providing over half of the finance for GRIT to purchase the Opal facility, at $28.6m, while GRIT has raised another $25m with a corporate bond issue.
The whistling African 
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