Stima Sacco Remains Steadfast in the Wake Of

ORPORATEKeeping Your Business In Mind MAY 2021 EDITION Kshs. 200, US$ 2

ISSN 2305-5561 11 9 772305 556001 Stima Sacco Remains Steadfast In The Wake Of

Covid-19 Pandemic1

KenGen to Payout KSh.1.98 Billion in Dividends to Shareholders

XXXXXXXXX KCB, Jubilee Health to launch Unique Seniors, Dr. Gamaliel Hassan, PhD Stima Sacco CEO Juniors Scheme

CORPORATE WATCH | MAY 2021 EDITION www.corporatewatch.co.ke You can now contribute directly into your NSSF account through M-PESA. This is a fast, easy and convenient way to increase your contributions through your mobile phone. Simply follow the instructions listed below to do so:

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M-PESA Payment Enter Business Enter Account Send Money Services Number Number Withdraw Cash Pay Bill 333300 XXXXXXXXXX Buy Airtime M-Shwari Payment Services My Account

Go to your M-PESA menu Select Pay Bill in the Enter Business Number Enter NSSF Number and select Payment Services M-PESA Menu which is 333300 you wish to pay for

Step 5 Step 6 Step 7

Enter Amount Enter PIN Pay Bill 3200 **** Pay Bill 333300 You will. Received a text Account message conﬁrming that XXXXXXXXXX the amount has been sent Kshs 3200 to NSSF.

KenGen to Payout KSh.1.98 Billion 14 in Dividends to Shareholders

You can now contribute directly into your NSSF account through M-PESA. This is a fast, easy and convenient way to increase your contributions through your mobile phone. Simply follow the instructions listed below to do so: Posta Partners With Taz Technologies For PROCEDURES ON HOW TO MAKE A CONTRIBUTION USING 22 Speedy Last-Mile 3 Step 1 Step 2 Step 3 Step 4

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M-PESA Payment Enter Business Enter Account Send Money Services Number Number Withdraw Cash Pay Bill 333300 XXXXXXXXXX Buy Airtime KCB Partners with Allianz M-Shwari Payment Services Jubilee Health to launch Completes My Account 22 Unique Seniors, Juniors Majority Stake Scheme Acquisition In Go to your M-PESA menu Select Pay Bill in the Enter Business Number Enter NSSF Number and select Payment Services M-PESA Menu which is 333300 you wish to pay for Jubilee General Step 5 Step 6 Step 7 Insurance, Microsoft ADC Kenya Enter Amount Enter PIN Pay Bill 3200 **** Pay Bill 333300 You will. Received a text Announces Account message conﬁrming that 35 XXXXXXXXXX the amount has been sent 32 Winner of Game Kshs 3200 to NSSF. of Learners OK Competition

Enter the amount you wish to pay Enter your M-PESA PIN Conﬁrm details are correct for (Between Kshs. 200 – 70,000) and press OK National Social Security Fund P.O. Box 30599-00100, Nairobi, Kenya | Main Line 020 2729911, 2710552 | Toll Free Line 0800 2212744 Email info nssfkenya.co.ke | Website www.nssf.or.ke CORPORATE WATCH | MAY 2021 EDITION ORPORATEKeeping Your Business In Mind MAY 2021 EDITION Kshs. 200, US$ 2 Editor’s Note ISSN 2305-5561 11 9 772305 556001 Stima Sacco Remains Steadfast In The Wake Of Ease of Doing Business: Kenya now ranks Covid-19 Pandemic1 th KenGen to Payout 56 globally according to World Bank Report KSh.1.98 Billion in Dividends to Shareholders ver the years, the Government of Kenya has instituted reforms that have

XXXXXXXXX KCB, Jubilee impressively improved Kenya’s global competitiveness as a commercial Health to launch Unique Seniors, Dr. Gamaliel Hassan, PhD destination as captured in the latest World Bank Doing Business Report that Stima Sacco CEO Juniors Scheme O ranked Kenya 56th in the world, a massive upswing from position 136th in the year CORPORATE WATCH | MAY 2021 EDITION www.corporatewatch.co.ke 2014.

EDITOR The Government has in the past few years spearheaded reforms that have led to gradual Allan Mkuywa removal of bottlenecks that hinder all types of investments so as to unlock the potential of the private sector, a key component in the realization of the country’s development ASSOCIATE EDITOR agenda. Ker Mogallo

COMMERCIAL DIRECTOR As a result of these very reforms, the country has recorded an improvement of 80 Adhyambo Odera positions to date. In this edition, we zoom in to the corporate world giving insights on the business environment even as COVID-19 continues to bite. CONTRIBUTORS Irene Atieno Meanwhile, our top story this month focuses on one of the country’s top saccos; Stima Felix Boyd Sacco. The CEO of the organization tells us how the institution is taking advantage of the 4 Francis Zyder Catherine Muema pandemic to its advantage with inventions that have enabled members’ access services Joan Wambui remotely. KJ Odongo Moses Cheruiyot SACCO’s make up approximately 5.55% of Kenya’s GDP as of 2018 according to the Fred Odhiambo Kenya Financial Sector Stability Report 2018 by the Central Bank of Kenya.

MARKETING Kiptanui arap Maina Furthermore, according to the SACCO subsector Demographic Study Report, 2019; The [email protected] SACCO sub-sector has a total population of slightly over 4.97 million natural persons as well as corporate or institutional membership among the deposit taking - SACCOs for the DESIGN & LAYOUT period ending December 2018. Smartex Creative Graffix [email protected] Historically, a number of SACCOs have experienced challenges that have stunted +254 721 496 922 the growth of the SACCO movements such as non-remittance of dues by employers, CIRCULATION mismanagement of funds by officials, and failure of members to pay back their loans Esbon Okong’o among others. However, the novel Coronavirus has taken unprecedented and most likely the largest test to the survival of SACCOs. The effects of the pandemic are not only PUBLISHERS being felt in the healthcare sector across all sectors of the country’s economy. Sacco Smartbound East Africa Limited societies have not been spared. However, the sector is hoping for a speedy recovery of ADVERTISING the economy. Smartbound East Africa Limited We want to hear from you, e-mail us on what you think about this edition and what you For inquiries contact us: would like covered in our subsequent editions. Enjoy the read and see you in June! Standard Building, 6th Floor P.O. Box 37671 - 00100 Kevin Mogallo, Nairobi-Kenya Tel: 020 7866887 Editor Email: [email protected] www.corporatewatch.co.ke CORPORATE WATCH is published monthly by Smartbound East Africa Limited. The magazine strives to ensure that companies and other institutions get a veritable platform to highlight their activities, challenges and successes and help build a positive business operation and investment climate across the Continent. CORPORATE WATCH accepts the information contributed by author and advertisers as factual Talk to the editor: and correct and that the views carried therein does not necessarily reflect the opinion of the publisher. [email protected] Reproduction of published material in whole or part is prohibited but those wishing to do so must obtain express permission of the publisher. MAY 2021 EDITION | CORPORATE WATCH COVER STORY

10 YRS OF SERVICE

CORPORATE WATCH | MAY 2021 EDITION COVER STORY Stima Sacco Remains Steadfast In The Wake Of Covid-19 Pandemic

tima Savings and Credit Co- Established in 1974, Stima Sacco aims to uplift members’ operative Society has been socio-economic status by redefining their financial wellness Sranked as one of the best performing Saccos in the country through the various savings and loan products within the following a sterling performance in the financial year ended 31st Sacco model. A leader in the sector, Stima Sacco hopes to December 2020.

beat all odds to remain a force to reckon with in the co- According to the Society’s audited financial results seen by the operatives industry as Corporate Watch magazine’s Ker Corporate Watch Magazine, the Mogallo writes. SACCO recorded revenue of KSh 5,891,395,000 in 2020 compared to KSh 5,648,651,000 in 2019. Net Interest Income stood at KSh 2,200,627,000 in 2020 compared to KSh 2,266,745,000 in 2019. 6 The Society’s balance sheet size grew to KSh 41,062,955,000 in 2020 compared to KSh 36,534,789,000 the previous year marking a 12% growth. Loans to members increased by 15% to KSh 32,798,794,000 from KSh 28,617,399,000 during the period under review.

Members’ deposits rose by 10% to KSh 31,188,264,000 from KSh 28,268,507,000 in 2019.

According to the financial report released at the Sacco’s hybrid ADM on March 16th 2021, interest on members’ deposits stood at KSh 2,440,942,000 in 2020 from KSh 2,125,658,000 in 2019.

Despite the Corona Virus pandemic that massively disrupted the economy as well as the banking sector, Stima Sacco recorded a surplus of KSh 1,027,117,000 at the end of the financial year in review. This is in comparison to the KSh 883,702,000 recorded at the end of the 2019 fiscal year. Dr. Gamaliel Hassan, PhD, Stima Sacco Chief Executive Officer

MAY 2021 EDITION | CORPORATE WATCH COVER STORY

Members of the SACCO have thus been paid a dividend of 14% per share and a 10.75% rebate on their deposits. The total payout for the two items totaled to Kshs. 2.72 billion in 2020 compared to Kshs. 2.35 billion in 2019.

Speaking to Corporate Watch in an exclusive interview at Stima Sacco Plaza, Stima Sacco Chief Executive Officer Dr. Gamaliel Hassan, PhD attributed the Sacco’s growth and success to implementation of its strategic plans particularly the adoption of technological advancements such as mobile and online banking as well as ATMs as th service delivery channels. The Chief Guest at the 47 AGM, PS Ali Noor Ismail (left), receives a token of appreciation from DIrector Imelda Bore (centre). Looking on is the National Alternative channels of service Chairperson, Mrs. Rebecca Miano delivery… “The global pandemic has driven whereby members are able to walk by basically distinguishing us to reflect on how to remain into a branch and walk out with a transactions accordingly to ensure relevant to our members as we take fully functional ATM card. correct remittances to the various 7 Covid-19 as the new normal. accounts. In tandem with its technological We thus have had to strategize advancements agenda, the Sacco Moreover, the Sacco’s mobile and innovate to reduce the aims to also register members’ loans as well as mobile phone numerous physical touch points facial and finger biometrics to transactions grew by over 13% while increasing the non-physical aid in faster identification and last year signifying that members channels ensuring members can seamless service provision. were increasingly embracing the still access services remotely. We alternative channels to access have also had to prioritize the safety The Sacco has partnered with services. In addition, the Sacco of our staff by ensuring that our Telco giant Safaricom to manage is in the process of developing a nine branches strictly adhere to the its mobile platform transfers second mobile platform to be used Covid-19 protocols and guidelines as provided by the Ministry of Health,” said Dr. Hassan.

He added that the Sacco’s key focus has been on how to get to members without them having to visit a branch. “Last year, we started by enhancing the reliability of our mobile phone platform dubbed M-Pawa. The mobile platform has so far ensured members are able to transact via their mobile phones and it supports all services rendered at the branches,” noted Dr. Hassan.

Stima Sacco has also hastened the issuance of Visa branded ATM cards to members with the A section of Stima Sacco members following proceedings during the 47th AGM. introduction of ‘instant ATM’ CORPORATE WATCH | MAY 2021 EDITION COVER STORY

by customers whenever the first the model. “Unlike other financial option is experiencing down times. institutions, we will not be riding on someone else’s agency model. “Because there is more and more We will be rolling out our own reliance on the mobile platform, agency banking dubbed ‘Stima Stima Sacco will be among the first Sacco Mlangoni’. The idea behind financial institutions to have two it is very simple, the revenue share mobile platforms concurrently so model doesn’t always work very that in case one channel is down, well thus we will roll out our agency we switch to the next channel,” banking model in this quarter,” he noted adding that the M-Pawa affirmed Dr. Hassan. mobile Application which was recalled for an upgrade was He added that this rollout would undergoing a piloting and would be supplement the branches as an released in May to allow faultless additional channel to allow access transactions. to services for members.

“2020 was a good year despite Dr. Hassan noted that the pandemic the challenging environment has been a blessing in disguise characterized by a subdued for the Sacco with the challenges financial services sector due to creating opportunities such as COVID-19, we only missed our embracing technology and investing revenue target by four percent. You heavily in ICT to automate their can imagine achieving this in a processes such as standing orders, 8 covid-19 year where no growth was RTGSs, EFTs, Cheque clearing expected, so our feeling was that systems to minimize the turnaround The CEO, Dr. Gamaliel Hassan, addresses we did well and because of that we time around the processes. delegates during the 47th AGM. would give back to the community which is our members in form of Affordable Housing… of coming up with a corporate bond increased dividends and rebates,” Stima Sacco is amongst the very to finance the Sacco’s long-term said the CEO. first co-operative societies to mortgages, however with the entry engage with the Kenya Mortgage of KMRC, the Sacco is already in The Sacco anticipates achieving Refinancing Company (KMRC) talks with KMRC to enable them the agency-banking model this year regarding affordable housing. fund mortgages at 9% on a reducing and is in the process of piloting Previously, the Sacco had thought balance for up to 25 years.

Stima Sacco board pose for a picture during the 47th AGM.

MAY 2021 EDITION | CORPORATE WATCH COVER STORY

According to Dr. Hassan, the affiliation with KMRC will now allow the Sacco to tap liquidity source from institutions such as AFDB and World Bank at subsidized rates.

“Being part of the Big Four Agenda, the idea is to ensure that common mwananchi is accorded a chance to own a home. We shall therefore ensure any one with an income of Ksh 150,000 and below is able to access this financing,” he noted.

The low cost mortgage scheme to be offered by the Sacco, aided by Stima Sacco Society Limited CEO Dr. Gamaliel Hassan (third left) opens the Naivasha funds from the Kenya Mortgage Level 5 Hospital after being refurbished by Stima Sacco as part of CSR. He is Refinance Company (KMRC) is assisted by Board Chairman of Naivasha Level 5 Hospital Dr Kanyingi Simon (left), expected to help cushion an annual Medical Superintendent Dr Ithondeka Angeline (second left), Vice Chairman of Ol housing demand of 250,000 units Karia Stima Sacco branch Cyrus Kariuki (second right) and Milka Bosire. against an estimated supply of 50,000 units. AGM,” the CEO said.

Sharia compliant products… With over 140,000 members of the 9 With an increase in demand for Sacco, the roll out is expected to be Sharia compliant products, Stima a huge success this quarter. Sacco is on the verge of rolling out sharia products within this quarter. “Our idea is that if you walk into The products, Dr.Hassan says will a banking hall at a Stima Sacco revolutionize the operations as well branch you will get a Sharia as diversify the Sacco’s range of window and you will be served the Stima Sacco led by the CEO, Dr. Gamaliel products. same regardless of your religion as Hassan hands over the keys to the management long as you meet the requirements of the refurbished Naivasha Level V Hospital, “We reckon the Sharia products of the products. Its more about the courtesy of the Sacco. are assumed to be tailor made for products requirements as opposed the Muslim faithful, however the to what your beliefs are. Its all about Stima has been in existence for products are not exclusively made understanding and appreciating 47 years now and one of the key to them because in our research, we the bouquet of products offered,” things we have come to realize is realized that majority of those who said Dr. Hassan. that we are not going to do what consume sharia products are non- we did for the last fourty seven Muslims. With the pandemic still persistent, years in the next fourty seven. As the Sacco continues to carry out an institution, we must embrace At Stima Sacco we are selling member education on products and change because change is the only the products to all members of services via webinars and other constant there is in life. We are the Sacco. As we roll out these online channels such as e-mails therefore targeting to do 48 billion products, we are training our staff and social media to be able to keep shillings in assets this year. We including myself to ensure there members informed. Having been have consequently embarked on is proper understanding of the in existence for fourty seven years, a major systems restructuring to products by the staff to enable them Stima Sacco is hoping for a robust enhance our core banking system disseminate the same to members. year. so that it matches the Stima Sacco We have also formed a Sharia of the next fourty eight years,” Dr. Advisory Committee to handle “This year is going to be a unique Hassan Concluded. Sharia matters and report to the year for Stima Sacco, very unique.

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JANUARY - MARCH, 2021 IRRIGATION METHODS SUITABLE FOR YOUR FARM AND CROP

Irrigation Systems/Methods According to Eng. Jairus Serede, a Senior Irrigation Engineer at the National Irrigation Authority, these are methods in which water is delivered to land or crops to supplement what is lost through evapotranspiration, which is water lost through evaporation and transpiration. Collins English Dictionary defines these methods as systems of supplying (land) with water by means of artificial canals or ditches to promote the growth of crops.

Eng. Jairus Serede classifies these systems into three main categories as explained below:

Surface Irrigation: This refers to systems that deliver water to crops using gravity- fed, overland flow. This system can be classified into basin/ Centre pivot Irrigation system 10 flood irrigation system and furrow irrigation system. Under basin pipes or tile lines. Water is discharged into trenches and allowed to stand irrigation, an area is divided into checks or basins. It is suitable for during the whole period of irrigation. Lateral and upward movement of crops that are not affected by excess water such as rice. In furrow water by capillarity action to the soil between the trenches or pipelines. irrigation system, the soil surface is channeled and furrows are Example of this method is the sub-surface drip irrigation system. formed to direct the flow and avoid flooding the entire field for crops such as maize. Water moves in these furrows and seeps to the crop root zone.

Basin irrigation design is simpler than either furrow/ border design since tail water is prevented from the existing field and the slopes are usually small.

Sprinkler irrigation system

Overhead Irrigation: Water is pumped and sprayed down onto the plants from flat spray nozzles. These may be mounted on an overhead network of aluminum pipes or even simply mounted on the top of the stake. Examples of this method are sprinklers and centre pivots. Irrigation methods differ in terms of water applicability and are influenced by the following factors:

Landscape: Furrow irrigation system This is the slope of the ground and how uneven or leveled it is. For example, in a flat land, drip or flood irrigation methods will be suitable. Sub-surface Irrigation: In other cases, slant areas will require other methods, probably sprinkler This method involves applying water from beneath the soil surface systems. either by constructing trenches or installing undergroundISO 900 perforated1:20 15 CERTIFIED Drip irrigation

MAY 2021 EDITION | CORPORATE WATCH

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JANUARY - MARCH, 2021 Climatic conditions: Ground level irrigation methods are directly affected by conditions such as dryness, ACCOUNTING FOR EVERY humidity and speed of wind. Where the speed of wind is high, the sprinkle irrigation might not attain uniformity of DROP OF IRRIGATION WATER water application. Basin, furrow and drip dopting and putting to good use water- of canals in Mwea (Kirinyaga County) and irrigation systems may be appropriate. efficient irrigation technologies is embracing center pivot irrigation in projects necessary for delivering water to every such as Galana Kulalu Food Security Project Crops: A irrigable acre without creating conflict with (Tana River and Kilifi counties). Type of crops and pattern of sowing other sectors. determine irrigation method since they The basin irrigation method is deemed to waste require different quantities of water. As is the trend in other countries, Kenya’s water and is environmentally degrading since Growth of plants and their heights are irrigation sector faces increasing physical it leads to total saturation of cropped fields also a consideration. In taller plants, and economic water scarcity and high cost unlike furrow method which restricts water to basin irrigation method is more suitable as of infrastructural maintenance among other the cropped lines. compared to the sprinkler method. challenges as it pursues food and nutritional security against the backdrop of a growing Further, short furrows fill up faster during Desired water and energy efficiencies: population. Different irrigation systems have different levels of water and energy efficiency. Drip irrigation has the highest water efficiency Crop diversification- Watermellon of 90-95 per cent followed by sprinkler at farmig in Ahero Irrigation Scheme. 70-85 percent while furrow and basin hit efficiencies of 50-65 per cent. 11

Soil: The soil moisture-holding capacity, intake rate and depth affect the system. Sandy soil has high intake rates and low soil moisture storage capacities while deep clay soil has low infiltration rates but high moisture- storage capacities. Sandy soil requires more frequent, smaller applications of water whereas clay soils can be irrigated less frequently and to a larger depth. Because irrigation consumes a lot of water, the irrigation and conserve the soil structure and scarcity of this resource is expected to worsen are hence more efficient than long furrows. In and become a big challenge to irrigation addition, lined canals reduce water loss during expansion. In addition, Kenya is targeting the conveyance and field distribution, thereby status of a rapidly industrialising nation, which conserving more water for irrigation while coupled with the increasing urbanisation, sprinkler irrigation leads to greater water use further strain water availability. This results in efficiency. Using these strategies, less water is a highly fragile waterenergy- ecosystem-food wasted and therefore the delivery of water to chain, thereby creating a potential for inter- more irrigable acres is achievable. sectoral water conflicts with potentially far- reaching policy implications. Other scalable, profitable and sustainable strategies being promoted by the Authority are The National Irrigation Authority is aware of crop diversification and intensification as well these challenges and is addressing the same as small-scale (household) water storage. Crop through deliberate strategies that promote diversification ensures effective management smart agricultural practices to sustainably grow of pests, weeds and diseases. It also leads more with less water. These strategies include to conservation of the soil ecosystem. Crop migration from basin to furrow irrigation intensification on the other hand helps to methods in Katilu (Turkana County), upgrading optimise use of available soil and water from long-furrow to short-furrow practices in resources. Perkerra (Baringo County) and Katilu, lining The household water storage is a game- Drip irrigation ISO 9001:2015 CERTIFIED

CORPORATE WATCH | MAY 2021 EDITION BANKING & FINANCE

DIB Strengthens Digital Banking With Introduction Of Pesalink DIB Bank Kenya Limited is a wholly owned subsidiary of Dubai Islamic “We are living in an era where convenience, speed and efficiency Bank PJSC. The Bank, which was licensed and began operations in 2017, are key in any industry and especially is a fully-fledged Commercial bank that offers exclusively Sharia Compliant the banking sector. We encourage our customers to embrace this new Banking services to both Business and Personal customer segments. Dubai service which they can access from the Islamic Bank (DIB) - UAE was the first Commercial Islamic Bank to be convenience and comfort of wherever they are through their Mobile phone.” he established in the world in 1975 and is a public joint stock company listed on concluded. the Dubai Financial Market (PJSC). The interbank transfer solution is set to accelerate as well as strengthen DIB’s digital banking space as Corporate Watch Magazine’s KJ Odongo reports. In Summary • PesaLink, is a real time 24-hour digital payment solution that allows for quick bank-to-bank trans- 12 fers easily, conveniently, securely, and affordably by Bank customers. • The introduction of Pesa- Link by DIB Bank also comes at a time when customers are being encouraged to undertake cashless transactions by embracing digital banking channels as a precaution against the DIB Bank Kenya Head of Business Support Donald Kimathi (R) takes Mansoor Salmen, a customer through the process of transfering funds via PesaLink after its spread of the COVID-19 introduction aimed at strengthening the bank’s digital banking. virus. • DIB Bank Kenya Limited IB Bank Kenya Limited has PesaLink service our customers are able introduced PesaLink, an to make single payment transactions is a wholly owned subsid- Dinterbank transfer digital of up to Ksh300,000 and up to a iary of Dubai Islamic payment solution, to strengthen its digital daily aggregate limit of Ksh999,999 Bank PJSC. The Bank, banking and provide more convenience conveniently.’’ said DIB Bank Managing to customers. PesaLink, is a real time 24- Director Peter Makau. which was licensed and hour digital payment solution that allows began operations in 2017, for quick bank-to-bank transfers easily, The introduction of PesaLink by is a fully-fledged Commer- conveniently, securely, and affordably by DIB Bank also comes at a time when cial bank that offers exclu- Bank customers. customers are being encouraged to undertake cashless transactions by sively Sharia Compliant “We are committed to the continuous embracing digital banking channels as Banking services to both improvement of our banking services a precaution against the spread of the Business and Personal for the benefit and convenience of our COVID-19 virus. customers. With the introduction of customer segments.

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KenGen to Payout KSh.1.98 Billion in Dividends to Shareholders environment, business sustainability, trends and market needs,” she said.

She pointed out that under the Corporate strategy, KenGen had been able to expand its revenue sources and international footprint. “It is under this strategy that we now have on-going contracts to drill geothermal

In Summary • The dividend payout for the year ended June 2020 is an increase from the Kshs 1.65 billion paid to the shareholders in 2019 Energy Principal Secretary, Eng. Dr. Joseph Njoroge (second right), KenGen Board 14 • During the year ended June Chairman, General (Rtd.) Samson Mwathethe (right), KenGen Managing Director & 2020, KenGen announced CEO, Mrs. Rebecca Miano and KenGen Finance & ICT Director, Dr. FCPA John Mudany a Kshs.13.9 Billion profit By CW Correspondent before tax, which translated into 18% growth from the enya Electricity Generating previous financial year Company PLC (KenGen) during which the company Kwill pay its shareholders announced Kshs 11.6 billion Kshs.1.98 Billion in dividends. This profits before tax. follows the approval by shareholders of the Board’s recommendation for a first • The company’s profit after and final dividend payment of Kshs tax improved from Ksh.7.88 0.30 per ordinary share of Kshs 2.50. billion to Kshs.18.4 billion, an increase that The dividend payout for the year the company attributed ended June 2020 is an increase from to a Kshs 8.1 billion the Kshs 1.65 billion paid to the reduction in corporate tax shareholders in 2019. rate from 30% to 25% as per the Government’s Speaking during the Company’s 68th Annual General Meeting (AGM) relief measures to support which was held virtually owing to the companies navigate through Coronavirus Disease (COVID-19), the COVID-19 crisis. KenGen Managing Director & • KenGen will continue CEO, Mrs. Rebecca Miano, said the implementing its Corporate Company’s capacity expansion and Strategy to ensure diversification agenda had contributed sustainable electricity to the results and growth achieved during the year the year. “The progress supply in the country, while we have been able to make as an leveraging on innovation KenGen MD & CEO, Mrs.Rebecca Miano perusing institution has mainly been driven by and partnerships for the company’s Annual Report after the 68th Annual deliberate strategic decisions taking business growth and General Meeting which was held virtually. into account the prevailing operating diversification.

MAY 2021 EDITION | CORPORATE WATCH BUSINESS

Electronics Giant Records Highest Quarterly Revenue Profit in its History By Catherine Muema percent year-on-year to USD 362.75 million (Ksh. 38 Billion), buoyed by G Electronics Inc. (LG) has strong sales in North America and announced first-quarter 2021 Europe. Premium products led by Lconsolidated sales of USD OLED and NanoCell TVs continued 16.90 billion (Ksh. 1.8 trillion) and to experience strong demand as the operating profit of USD 1.36 billion pandemic effect continued to be felt (Ksh. 145 billion) – the highest across the world. quarterly results in the company’s history. To maintain this success in 2021, LG plans to enhance its premium At 8.1 percent, this is a first- product lineup, expand online quarter operating profit record for sales, optimize resources and the global consumer electronics streamline asset management. giant, reflecting strong demand The LG Mobile Communications for LG home appliances and home Company reported sales in the first KenGen Board Chairman, General (Rtd.) Samson entertainment products as customers quarter of USD 897.18 million (Ksh. Mwathethe during the company’s 68th Annual around the world continue to spend 95.9 Billion) with an operating loss General Meeting (AGM). more time at home due to Covid-19 of USD 251.63 million (Ksh. 26.9 lockdowns. Billion). Operating loss was down wells in Ethiopia and Djibouti and also provide geothermal 28 percent compared to the same consultancy services in Kenya. We are happy this direction Compared to Quarter 1 a year ago, period last year due to the lack of we have taken is paying off and are determined to continue revenues grew 27.7 percent and new products with LG’s planned 15 with it so that we can provide more value to you, our profitability soared 39.1 percent. exit from the smartphone business shareholders,” said Mrs. Miano. The LG Home Appliance & Air at the end of July this year. Solution Company generated first- She also highlighted the achievements attained during the quarter sales of USD 6.03 billion The LG Vehicle Component period, adding that the company envisioned to add another (Ksh. 645.2 billion), an increase of Solutions Company achieved first- 83.3 MW to the national grid by the end of 2021 following 23.8 percent from the previous year. quarter sales of USD 1.70 billion the completion of Olkaria 1 Unit 6 geothermal power plant. Operating profit at USD 826.39 (Ksh. 181 Billion, an increase of million (Ksh. 88 billion) was 22.1 43.5 percent from the same period The Managing Director added that going forward, the percent higher than the first quarter last year. Operating loss narrowed company would focus on delivering ongoing projects and 2020. attributable to the recovery of the pursuing new ones in Kenya and beyond. automotive sector in North America For the second consecutive quarter and Europe, as well as increased During the year ended June 2020, KenGen announced a the appliance business division revenues from new projects in the Kshs.13.9 Billion profit before tax which translated into saw significant growth year-on-year e-Powertrain and infotainment 18% growth from the previous financial year during which in North America and Europe as sectors and better cost management. the company announced Kshs 11.6 billion profit before tax. well as in its home market of South Korea where the rental business is The LG Business Solutions The company’s profit after tax improved from Ksh.7.88 particularly healthy. Profitability Company also saw improved first- billion to Kshs.18.4 billion, an increase that the company was accompanied by stable growth quarter revenues of USD 1.67 attributed to a Kshs 8.1 billion reduction in corporate tax rate led by strong sales of premium billion (Ksh. 178 Billion), an from 30% to 25% as per the Government’s relief measures products in North America and increase of 9.1 percent from a year to support companies navigate through the COVID-19 crisis. Europe. The business unit expects to ago and 23.6 percent higher than see continued growth by expanding the previous quarter largely on the In his address, KenGen Board Chairman, General (Rtd.) sale of new products overseas. back of strong demand for products Samson Mwathethe said the company was pleased to have such as monitors and PC products delivered positive results amidst a challenging business The LG Home Entertainment in the era of remote working and environment. Company recorded sales of USD online learning. Operating profit 3.60 billion (Ksh. 385.2 Billion) in of USD 120.38 million (Ksh. 12.8 The company, he added, would continue implementing its the first quarter, an increase of 34.9 billion) declined due to increasing Corporate Strategy to ensure sustainable electricity supply in percent from the same period last cost of components such as LCD the country, while leveraging on innovation and partnerships year. Operating income rose 23.9 panels and semiconductors. for business growth and diversification.

CORPORATE WATCH | MAY 2021 EDITION ICT International ICT Firm Launches in Kenya Echo International is a cloud-based, pan-African ICT service provider that delivers value in creative and transformative ways, with a focus on building In Summary partnerships with clients, which include SMEs, corporates, and multinational • Echo International Ke- enterprises. With a network of strategic partners spanning 44 countries, nya will offer cloud-based, ICT solutions with a focus clients benefit from the widest coverage across Africa for every connectivity on building partnerships requirement including simple internet access, fibre, wireless, or VSAT (Very- with clients, which include Small-Aperture-Terminal) for remote areas; as well as managed multi- corporates, enterprises, branch wide area network solutions across multiple territories. Making an and multinational enter- entry into the Kenyan market as Echo Kenya, the firm is setting its eyes on prises. redefining the ICT business landscape as Ker Mogallo reports. • Kenya continues to trailblaze in the adoption and 16 application of technology solutions through a robust IT infrastructure and a progressive entrepreneurial population • Through its game-changing approach, Echo Ke- nya will now empower Kenyan entrepreneurs with solutions to compete at the same level with global markets, preparing the country for a future workspace that focuses on remote collaboration, dis- Echo International Kenya MD Ken Munyi with Echo Kenya’s COO Loren Bosch. tributed workforce, and enhanced productivity. enowned global ICT Atlantica Ventures Partner Juliana • Echo Kenya heralds a Solutions Company Echo Rotich, and National Housing fresh approach to devel- RInternational has launched Corporation Non-Executive Director into the Kenyan market through its Caroline Armstrong. These industry oping ICT solutions for local subsidiary Echo Kenya in an titans along with Echo Kenya’s COO B2B clients through a con- event hosted at its offices at West- Loren Bosch engaged in a provoking sultative process that will End Towers in Nairobi Kenya. discussion, themed, “Reinventing leverage its own capabili- new solutions for a fast-changing and The event was attended by disruptive dynamic business environment” on ties as well an ecosystem thought leaders from the country’s the changes taking place in the world of partners organisations, private sector who included the of world, the frameworks necessary leaders in their fields of specialization MAY 2021 EDITION | CORPORATE WATCH ICT

for making technology choices, and Echo Kenya’s unique approach in the design and deployment of appropriate solutions.

Echo International Kenya will offer cloud-based, ICT solutions with a focus on building partnerships with clients, which include corporates, enterprises, and multinational enterprises. Through these partnerships, Echo will help its clients seize new opportunities through the selection and implementation of the relevant technology to optimise their workforces and other resources in the ever-changing world of work.

With a network of strategic partners spanning 44 countries, its clientele will benefit from the widest coverage Atlantica Ventures Partner Juliana Rotich, and National Housing Corporation Non- across Africa for every connectivity Executive Director Caroline Armstrong. requirement including simple internet access, fibre, wireless, or VSAT (Very-Small-Aperture- software-defined network solution, 100 percent guarantee on its Service that is particularly suited for Level Agreements, an interactive Terminal) for remote areas; as well 17 as managed multi-branch wide area businesses with multiple branches omnichannel platform where clients network solutions across multiple and offices, focused on enhancing will productively interact with the territories. In addition to connectivity the client experience and for the firm on a continuous basis. and software-defined network first time in Kenya delivering up to a solutions, Echo also provides flexible “Our goal is to understand the and cost-effective IT-as-a-Service evolving business landscape and (ITaaS)and Security offerings, its effect on our clients’ businesses enabling a smooth transition to Through its and relevantly orchestrate solutions cloud-based infrastructure for its that generate for them a competitive clients. game-changing advantage, enabling them to thrive in their respective sectors.” Announcing the launch, Mr. Ken approach, Echo Munyi, the Managing Director at Jacques Rautenbach, Echo Echo International Kenya said that, International’s Group Managing “As a Pan-African Group, we are Kenya will now Director said, “I am proud of the Echo excited to launch first in the Kenyan Kenya team and the work they have market, Kenya continues to trailblaze empower Kenyan been doing to not only lead the ICT in the adoption and application of sector with future-ready solutions technology solutions through a robust but doing so with the best talent in IT infrastructure and a progressive entrepreneurs the market and within a future-ready entrepreneurial population. Echo workspace environment.” Kenya heralds a fresh approach with solutions to to developing ICT solutions for Through its game-changing B2B clients through a consultative compete at the approach, Echo Kenya will now process that will leverage its own empower Kenyan entrepreneurs with capabilities as well an ecosystem solutions to compete at the same of partners organisations, leaders in same level with level with global markets, preparing their fields of specialization.” the country for a future workspace global markets. that focuses on remote collaboration, To mark its entry into the Kenyan distributed workforce, and enhanced market Mr. Munyi, announced the productivity. launch of its ‘Superwan’ offering, a

CORPORATE WATCH | MAY 2021 EDITION INFRASTRUCTURE Avail Land To To Help Fix Housing Deficit – Developer

government meet its ambitious target Mizizi Africa Homes Ltd is an Award Winning, fast-growing of 500,000 by 2022. property developing Kenyan company that offers homes and investment solutions that are pocket-friendly, high quality and timely. Currently offering 3 Bedroom Bungalows in Kiambu County In Summary at Ngoigwa, Torah, Kiahuria and Gatundu, with other projects • The infrastructural coming soon in other parts of the country with the aim of moving support under public- across other Africa countries. It has won three Major Real Estate private partnership will encourage developers to Awards in the last two years. Mizizi Africa Homes clinched the put up more affordable 2020 Real Estate Excellence Award for the best low-cost housing housing units and help developer in Kenya and aims to bridge the gap for affordable housing the government meet 18 in tandem with President Uhuru Kenyatta’s big four agenda on its ambitious target of housing. Catherine Muema reports. 500,000 by 2022. • Kenya has a deficit of 2 Million houses, every year and needs approximately 200,000 housing units • Mizizi Africa CEO proposes an arrangement where the government can sell land to private developers at subsidised rates or offers flexible payment models with long tenure including settling costs at a later date • Cost of purchasing land takes about 30 percent Mizizi Africa Homes - Handover of Heritage Estate Phase 1. of the total project cost.

izizi Africa Homes has The infrastructural support under Taking this out would called on the government public-private partnership, Mizizi translate to 30 per cent Mto avail land to private Africa Homes Chief Executive savings that can be passed developers to accelerate efforts Officer, George Mburu said will of bridging the country’s housing encourage developers to put up more on to customers in the deficit gap. affordable housing units and help the form of affordable houses.

MAY 2021 EDITION | CORPORATE WATCH INFRASTRUCTURE

necessary approvals.

“This will allow us to significantly increase the number of units we churn out from 100 to 1,000. All we will need is to increase our workforce and capacity to deliver,” he said.

Cost of purchasing land takes about 30 percent of the total project cost. Taking this out would translate to 30 per cent savings that can be passed on to customers in the form of affordable houses.

Heritage Estate an 18-unit all ensuite 3-bedroom bungalow that introduces owners to modern luxury A section of Heritage Phase 1 living is the firm’s second project that has been successfully completed and “Government alone cannot fix “The country is in urgent need of handed over to customers. the housing deficit on its own. To many housing units that citizens accelerate development of affordable can also afford. The current deficit “This is yet another testament that housing units, the government can continues to grow with growth in we are committed to delivering offer infrastructural support in the population exacerbated by rural quality results as agreed at the start form of availing land for putting up urban population. We need to find of the project and within set timelines 19 the housing units,” said Mburu. a lasting solution and this can without compromising our promise of only be through public-private affordability,” said Mburu. He spoke during the official handover partnerships,” said Mburu of Heritage Estate in Kimunyu It comes with a spacious sunken Town, Kenyatta Road along Thika Mizizi Africa CEO proposes an lounge and dining area, large Superhighway just 25 minutes’ drive arrangement where the government windows for natural lighting, from Nairobi CBD. can sell land to private developers spacious laundry, customizable open at subsidised rates or offers Kitchen with granite breakfast table, Kenya has a deficit of 2 Million flexible payment models with long cabinet, fridge and cooker area. It houses, every year and needs tenure including settling costs at also features cabro paved roads, approximately 200,000 housing a later date. The government can parking slots for two cars and high units. also accelerate the pace of other perimeter wall all-round the estate.

Family Bank Redeems Medium Term Note On Maturity By Felix Boyd Notes with a 14.00% coupon and Chief Executive Officer Rebecca Mbithi. Floating Rate Notes with a 182-day “We remain focused on the growth of the amily Bank has redeemed its T-bill coupon rate plus 250 basis points. Bank to continue meeting the needs of five and half years (5 and ½ “We wish to thank the investors who our customers,” she added. Fyear) Medium Term Notes (MTN) participated in the medium-term note. worth KES 2.0188 Billion that was due The lead transaction advisors for this on 19th April 2021. On this maturity The MTN which was issued back in transaction were NIC Capital & Faida date, the bondholders have been paid 2016 and listed in the Nairobi Securities Investment Bank, Deloitte & Touché their principal together with the accrued Exchange supported the Bank in as the reporting accountants, MTC interest of the final six months. its expansion plans and served to Trust as the Note Trustees while Mboya strengthen the capital base to be able to Wangong’u & Waiyaki Advocates were The notes included Fixed Rate Notes increase lending to Medium and Small the legal advisors. with a 13.75% coupon, Mixed Rate Sized Enterprises,” said Family Bank

CORPORATE WATCH | MAY 2021 EDITION INSURANCE

Britam Delivers Mixed Performance Despite Covid-19 Impact Leading diversified financial services group; Britam is listed on the Nairobi In Summary Securities Exchange. The group has presence in seven Africa countries in • Britam Holdings re- Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique and corded gross revenue of Malawi. Britam offers a wide range of financial products and services Shs 28.8 billion, rep- which include: Asset Management, Life Assurance, Retirement Planning, resenting a 4 percent increase from Shs 27.7 General Insurance, Health Insurance, Banking and Property. The firm billion reported in the has recorded a 4% rise in gross revenue and a loss before tax of Shs 9.7 prior year ended 31 De- billion in the year 2020 compared to a profit before tax of Shs 4.6 billion cember 2019. in 2019 occasioned by the effects of the Corona virus pandemic. Moses • The international divi- Cheruiyot writes. sion continued to increase its contribution to the Group’s perfor- 20 mance accounting for 28 percent of the Group’s gross earned premium and a profit of Shs 832 million up from Shs 38 million in 2019. Britam operates in six countries outside Kenya. • Britam Holdings has reported a loss before tax of Shs 9.7 billion in the year 2020 compared to Tavaziva Madzinga, Group Managing Director, Britam delivering a statement at a press conference where he announced 2020 Financial Results. a profit before tax of Shs 4.6 billion in 2019. ritam Holdings Plc has The international division continued to • To mitigate the impact delivered a mixed performance increase its contribution to the Group’s Bfor the financial year ended 31 performance accounting for 28 percent of Covid-19 across op- December 2020 despite the Covid-19 of the Group’s gross earned premium erations, the Group im- pandemic. and a profit of Shs 832 million up from Shs 38 million in 2019. Britam plemented alternative Britam Holdings recorded gross operates in six countries outside Kenya. ways of working, with revenue of Shs 28.8 billion, the bulk of employees representing a 4 percent increase from The Kenya General Insurance business Shs 27.7 billion reported in the prior turnaround strategy delivered improved working remotely, while year ended 31 December 2019. This performance and the unit reported a maintaining service lev- increase was mainly supported by profit before tax of 374 million from a els to clients and advis- the continued revenue growth of the loss before tax of Shs 306 million in international insurance business. 2019, a 222 percent improvement. ers.

MAY 2021 EDITION | CORPORATE WATCH INSURANCE

The Group continued to be resilient in its cash coupled with an improved operating transformation. generating ability, outperforming its peers in environment, the Group’s performance is delivering positive operating cash flows of looking very positive for 2021. We remain Britam’s 2021-25 Strategic Plan seeks to Shs 7.6 billion, and significantly growing its financially strong with a stable solvency enhance customer experience by becoming investments in fixed income return assets. capital position,” said Mr. Madzinga. more customer centric; expand its customer The total assets for the Group have closed at base to drive growth; and improve the Shs 137 billion, a 9 percent growth from 2019 Britam Holdings recently injected Shs 1 efficiency with which Britam runs its business with assets under management closing at Shs billion tier 2 capital as part of a broader to ensure better returns. Additionally, it will 250 billion. strategy to power growth and cement HF gear the organisation for enhanced digital Group’s full-service banking strategy. Mr. innovation in its solutions and product The Group’s total underlying operating costs Madzinga said the capital injection is a clear development. also declined by 6.4 percent as a result of indication of the vote of confidence that the prudent cost control measures including Group has in its various business units. As part of its new strategy, Britam will rationalizing non-essential costs. capitalize on its investments in technology Response to Covid-19 and the new organizational structure to The Life Assurance business continued to To mitigate the impact of Covid-19 across achieve operational efficiencies and prudent underwrite profitable new business with operations, the Group implemented alternative cost management. The company is also embedded value remaining resilient despite ways of working, with the bulk of employees reviewing its investment profile by relooking the tough operating environment. The working remotely, while maintaining service at asset allocation with a focus on optimization embedded value as of 31 December 2020 was levels to clients and advisers. Backed by its of returns. Shs 16.3 billion, representing a marginal drop investment in IT, Britam also accelerated its in annualized return of 0.60 percent even as digital programmes to make sure customers Mr. Madzinga said the company will also returns on the business listed equities and could continue to access its products and leverage strategic partnerships to drive properties significantly dropped. services. scale and grow its customer base through developing targeted and customized products. However, Britam Holdings has reported a Business Strategy loss before tax of Shs 9.7 billion in the year Britam is at the tail-end of developing a Outlook 21 2020 compared to a profit before tax of Shs new strategy with a focus on excellence Mr. Madzinga said the economic disruptions 4.6 billion in 2019. The tough operating for customers, innovation and business brought about by Covid-19 continue to drive environment experienced in the year under uncertainty and it may take time to contain review led to significant fair valuation losses or mitigate the spread of the virus or address from our investment in equities, impairments its impact on individuals, businesses and the on some of our property investments as economy. demand remained subdued in the commercial The Life and residential housing sector. Mr. Madzinga said the pandemic has however Assurance accelerated opportunities in its markets as Poor listed equities performance contributed a customers are increasingly focused on their fair value loss of Shs 2.3 billion and property business continued health, wellbeing and financial security. impairments of Shs 2 billion. The unfavorable Customers also increasingly prefer virtual operating environment adversely impacted to underwrite interactions. He said Covid-19 situation our investment in associate – HF Group has also been a powerful accelerant to the contributing to the Group results, a share of company’s innovation efforts. loss at Shs 823 million and a reduction in the profitable new value of this investment by Shs 603 million. “The pandemic has propelled Britam digital business with strategy which has enabled us put customer The results were further depressed by a needs at the centre of everything we do. We provision for investment losses of Shs 5.2 embedded value will deploy deep customer insights and data billion being the level of support to be offered analytics to better understand their needs to Britam Wealth Management Fund LLP, a and provide relevant solutions,” said Mr. Fund managed by Britam Asset Managers remaining resilient Madzinga. which is a fully owned subsidiary of Britam Holdings Plc. despite the He added: “Britam is well-placed to tap emerging opportunities with its underlying Britam’s Group Managing Director, Mr. tough operating financial strength and a diversified business Tavaziva Madzinga said the company’s growth model.” potential remains strong and expects Britam to return to profitability in 2021. “The Group’s environment. Dividend fundamentals remain strong and with a new The Board of Directors did not recommend transformative strategy being implemented, the payment of a dividend for the year 2020.

CORPORATE WATCH | MAY 2021 EDITION BUSINESS

Posta Partners With Taz Technologies For Speedy Last-Mile Delivery MPost, dubbed as Posta Mkononi, is an innovative product that has revolutionized the Kenya Postal services by offering Kenyans virtual In Summary mailboxes using their mobile numbers. With MPost your phone • The revolutionary partner- number automatically becomes your address. One can register with ship will see PCK integrated MPost anytime, anywhere by dialing the USSD *631# on their phone into the TAZ delivery sys- and choosing the option of ‘Registration’. With the partnership with tem, aptly named “Tap-A- Delivery” which is a real TAZ, mails and parcels are set to be delivered to customer’s doorsteps as time e-commerce courier Corporate Watch Magazine’s KJ Odongo writes. service app that collaborates with Uber and other logistics and taxi companies for last mile delivery across the country

22 • The partnership was a culmination of past collaboration that anchored the launch of MPost, a digital postal service that saw Sa- faricom subscribers offered virtual post office boxes linked to their mobile phone numbers. • The digital post service hopes to leverage on over 40 million mobile users to deliver parcels and postal Mr. Dan Kagwe, the Postmaster General and CEO of PCK (left) and Mr. Twahir items while tracking them Mohamed, CEO & Founder of Taz Technologies bump fists after the signing of through the value chain. the partnership agreement. • According to the United ostal Corporation of Kenya A-Delivery” which is a real time Nations Conference on (PCK) and TAZ Technologies e-commerce courier service app that Trade and Development Phave signed a strategic collaborates with Uber and other (UNCTAD), the rise of partnership that will see postal logistics and taxi companies for last items, mails and parcels originating mile delivery across the country. e-commerce has led to an from the Post Office delivered to the impressive increase in the customer’s doorstep. “To shore up our fortunes in a digitalized economy where mail parcel segment volumes, of- The revolutionary partnership will volumes have plummeted, we ten referred as a “tsunami of see PCK integrated into the TAZ are now leveraging on the advent parcels”. delivery system, aptly named “Tap- of digital globalization through

MAY 2021 EDITION | CORPORATE WATCH BUSINESS

HORECA Your Hospitality modern technologies and strategic HOSPITALITY Solution Provider partnerships,” said Dan Kagwe, the Postmaster General and CEO of PCK during the signing of the partnership agreement. TOILETRIES AND AMENITIES INSIGHT HOTEL SUPPLIESMr Kagwe said the partnership was INSIGHT HOTEL SUPPLIES a culmination of past collaboration that anchored the launch of MPost, �n�ight ��tel �u��lie� i� ��ur all� in ��ur�ing ��ur be��e h��italit� FULL LINEN RANGE need�. �e ��ur�e a �r�du�t� digital postal �� di�erentservice that range� saw and �redible brand� t� Safaricom subscribers offered virtual in��ire ��u. �ur ��n�e�t �� ualit� and e��ellen�e i� �r�m the �ide range �� ur �inen range� are �� ng �bre ��n �� e�tra-�rdinall� post office boxes linked to their �r�du�t� that �reate �alue t� ��ur h�tel brand. �ualit� di��n��el� ��en in d��b� l��m� thu� �u�er ab��rbent and mobile phone numbers. lu�tr�u�l� �tr�ng. �e �ul��ate �ur �artner�hi�� r�m e�er� �er��nali�ed ��lu��n� Under the agreement that birthed ��m�e��e �ri�ing� and unbeatable re��n�e in �me t� ��ur �rder� and MPost, Taz Technologies offer the un�re�edented emergen�ie�.services of �econversion are a of re�e��n mobile �� ur �a��i�n ��r all thing� �un��nal andphones inn��a��e to Postal in Addressthe ��italit� numbers, �ndu�tr�. �ur �r�du�t range in�lude��alert notification, and mapping services to enable the delivery of • Full linen range mail. FULL LINEN RANGE INSIGHT HOTEL SUPPLIES - Bed and bath INSIGHT HOTEL SUPPLIES - �able“We have and nowban�ue�ng a critical linenmass of MPost customers who have been • ��iletrie� and �meni�e�requesting reliable last-mile delivery �n�ight ��tel �u��lie� i� ��ur all� in ��ur�ing ��ur be��e h��italit� • Branded ��n�eren�eservices. �ta��ner� We went back to the drawing BED FULL LINEN RANGEboard and came up with this Tap-A- 23 ��B�� B�� need�. �e ��ur�e �r�du�t� �� di�erent range� and �redible brand� t� Delivery innovation that incorporates LINEN �� B�� TOILETRIES AND AMENITIES in��ire ��u. �ur ��n�e�t �� ualit� and e��ellen�e i� �r�m the �ide range �� ur �inen range�Posta and are logistics �� companies such ��ng �bre ��n �� e�tra-�rdinall� �n �� lle��nas Uber�� a for litmu� efficient te�t picks �� and lu�ur� drops a�a� �r�m h�me that �r�du�t� that �reate �alue t� ��ur h�tel brand. �ualit��ntain� di��n��el� all a�ribute�of mails that��en and �illparcels, �urther saidin Twahir d��b� ��ntribute l��m� t� ��ur ��erallthu� �u�er ab��rbent and Mohamed, CEO & Founder lu�tr�u�l�brand image. �tr�ng. BRANDED CONFERENCE STATIONERY MPost also comes in handy to those �e �ul��ate �ur �artner�hi�� r�m e�er� �er��nali�ed ��lu��n� who wish to buy and ship items from ��m�e��e �ri�ing� and unbeatable re��n�e in �me t� ��ur �rder� and overseas merchants like Amazon and AliExpress, among others. The un�re�edented emergen�ie�. �e are a re�e��n �� ur �a��i�n ��r all digital post service hopes to leverage BATH on over 40 million mobile users to thing� �un��nal and inn��a��e in the ��italit� �ndu�tr�. deliver parcels and postal items Branded Pens Conference BooksLINENBusiness Cards yers �ur �r�du�t range in�lude�� while tracking them through the value chain.

Under the new partnership, PCK • Full linen range clients will also be able to schedule - Bed and bath their deliveries for a later date, as well as plan for recurring deliveries. Roll up Banners Sta Lanyards Tear drops Branded Mugs - �able and ban�ue�ng linen In addition, Tap-A-Delivery will incorporate a “Scan and Get Delivery” feature aimed at getting TABLE • ��iletrie� and �meni�e� traction from convenience stores and LINEN supermarkets across the country. • Branded ��n�eren�e �ta��ner� Mr Kagwe said the new frontier for the postal services sector is ��B�� B�� B�� B�� e-commerce and logistics, especially TOILETRIES AND AMENITIES during the Covid-19 pandemic era where customers are keen trade with Horeca - Hospitality Division, minimal physical contact. P.O. Box 9143-00100, Nairobi - Kenya | Tel: + 254 777 787 604 | 0731 787 604 �n �� lle��n �� a litmu� te�t �� lu�ur� a�a� �r�m h�me that E: [email protected] | [email protected] W: www.horecahospitality.com ��ntain� all a�ribute� that �ill �urther ��ntribute t� ��ur ��erall CORPORATE WATCH | MAY 2021 EDITION brand image. BRANDED CONFERENCE STATIONERY

Branded Pens Conference Books Business Cards yers

Roll up Banners Sta Lanyards Tear drops Branded Mugs ICT

Standard Chartered, Telkom Kenya Introduce Customized Bundle This bundle also presents another sweetener – the customer will have access to 4 free rides a month with a value of up to KES 260 each, from leading ride-hailing app, Bolt.

Standard Chartered will reimburse transaction costs incurred by the customers during the 3-month campaign that ends on 31st July, 2021.

The 30GB Mobile Data Bundle, which is exclusive to the Kenyan Market, can be purchased via Telkom Kenya’s USSD *544#.

24 Eric Achola, Director for Marketing at Telkom, said: “Telkom is focused on bringing much-needed The bundle is tailored for the digitally inclined, cost and value innovative products and solutions to the Kenyan market. Consumers conscious consumer searching for the next best competitive are currently on the hunt for the proposition. Telkom pre-paid subscribers that buy 30GB of next best competitive proposition that will give them more value. Mobile Data will get access to a free Standard Chartered Our partnership with the Standard Chartered Bank, will see us address Bank account for 90 days, and access to premium streaming our customers’ Communication, Financial and Entertainment needs content from ShowMax for 30 days, as well as 4 free rides a during this period.”

month from taxi-hailing app, Bolt. Telkom’s Mobile Data will give customers access to high-touch By CW Correspondent banking experiences that are A Telkom customer will get 30GB reflective of service delivery within tandard Chartered Bank has of mobile data for KShs1200.The Standard Chartered’s traditional announced a partnership offer will give the Telkom customer brick-and-mortar branches. Swith Telkom Kenya dubbed access to 100 per cent cashback Omoka Vinoma that will see on all transactions for a period of 3 Essentially, the bundle will give Telkom pre-paid subscribers get months, when they open a Current a Telkom customer access to a access to 100 per cent cashback on Account from Standard Chartered digital bank branch in the palm Standard Chartered current account Bank, as well as a one-month of their hand. With the onset transactions. Showmax Pro Mobile subscription of the COVID-19 pandemic, with access to premium streaming there has been a major shift to The partnership will present a content, including live sports virtual banking, with customers competitive proposition to Telkom events, as well as live local news increasingly adjusting to the pre-paid Mobile customers upon and music channels. benefits of convenience inherent in purchasing a preferential data mobile banking. bundle.

MAY 2021 EDITION | CORPORATE WATCH ICT

Edith Chumba Head of Consumer, Private and services that fit perfectly into and Business Banking at Standard the day to day life of our client. Chartered Kenya and EA, said: “Our The pandemic demonstrated the research on Kenyan youths reflected that The importance of being agile and this most interact with and prefer using digital customized bundle is representative products and services on a daily. of an adaptive product and service. benefits of the We look forward to seeing users This has further been escalated by the interact with the optimized rapid growth of the digital economy since collaboration bundle and will continue to drive the onset of the pandemic. Remote working innovation and design strategic and schooling have now become the norm partnerships that provide the best and there has been a greater uptake will enrich people in class experience for our clients.’’ of online shopping and entertainment. Added Edith. Further research has shown that most of and enable the youth are now money conscious with “Showmax Pro Mobile subscribers many looking for ways to cut costs and have access to everything on save money. them to boost Showmax as well as live sport, from SuperSport including Premier This bundle is our response to the need League, Serie A, La Liga, and DStv for quality Internet access and the desire the economy by Premiership games,” says Stephen to be financially prudent. It offers easy Riome, Chief Expansion Officer at access to online channels and allows providing better Multichoice Connected Video. “It’s users to enjoy efficient banking services great value for money and we’re through the SC Mobile App which is built proud to partner with Telkom to for convenience. It’s a bundle that offers access to mobility give its customers access to the best 25 an optimal mix of work and play.’’ streaming content in Africa via the solutions, Showmax mobile app.” “Our customers are continuously evolving, and we are committed to evolving with “Bolt is excited to be part of such them. The increased adoption of digital finance and an enabling initiative that will technology in the past few years is provide people with the opportunity indicative of the current market need. Our to get more out of the financial, partnership with Telkom allows us to meet connectivity.” telecommunications and mobility this need by integrating different products industries - all at once. We believe this partnership will set a precedent for brands in different industries to collaborate. The benefits of the collaboration will enrich people and enable them to boost the economy by providing better access to mobility solutions, finance and connectivity.” said Kenneth Micah, East Africa’s Regional Manager at Bolt.

Users can open an account with Standard Chartered directly on the SC Mobile App in 15 minutes. Standard Chartered has significantly invested in digital banking tools and systems, a move that has seen the SC Mobile platform deliver more than 52 percent of all service requests, with 50 percent of all bank service requests coming through the bank’s digital channel.

CORPORATE WATCH | MAY 2021 EDITION EDUCATION

fortunate to benefit from digital learning,” said Bethany Jepchumba from the Jomo Kenyatta University of Agriculture and Technology and the Bloom-Learn team leader.

Other members of the winning team were Joy Kathure (Dedan Kimathi University, Kenya), Festus Idowu (Obafemi Awolowo University, Nigeria), Fortune Adekogbe (University of Lagos, Nigeria) and Afandi Indiatsi (Strathmore University, Kenya).

While announcing the winners at the side- lines of the Africa Development Center (ADC) virtual Open Day, Jack Ngare, the ADC Kenya Managing Director congratulated all the participating Bethany Jepchumba, a student from the Jomo Kenyatta University of Agriculture and teams and challenged them to continue Technology receiving the Award from Ruth Ferland Microsoft Africa Development Center. improving on their different innovations until they can be commercially scalable. “It is exciting to see young people from across Africa coming together and being Microsoft ADC Announces Winner so enthusiastic about finding local digital solutions to some of Africa’s problems in 26 of Game of Learners Competition areas such as education and health. At the ADC, we are committed to supporting Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation these young innovators to develop some for the era of an intelligent cloud and an intelligent edge. Its mission of their ideas to viable solutions,” Ngare said. is to empower every person and every organization on the planet to achieve more. Dubbed Bloom-Learn, the winning innovation is a digital Now in its second year, the GOL is structured as a 5-week virtual hackathon platform that links students and teachers and was developed by a team comprised of weekly sprints where, at of five students from different universities in Kenya and Nigeria. The the end of the 5th week, all participating teams submit their final projects for competition enhances digital and coding skills among university students judging. Besides having the winning as Catherine Muema reports. team featured on the GOL site along with announcements on social media, each n innovation featuring a unique solutions that can aid Africa to overcome standing member of the winning team digital platform with capabilities to serious bottlenecks facing education in the will be awarded with a smartphone, one Alink students and teachers across region. year Azure credits, one year LinkedIn Africa has been voted winner in the just Learning voucher, Azure Developer exam concluded Season 2 of Game of Learners For instance, the Bloom-Learn platform is voucher, digital certificate, digital badge, (GOL) competition sponsored by Microsoft’s designed to allow teachers to upload classes, a swag bag, and one-on-one mentorship Africa Development Center – Kenya. create one-on-one sessions with students, and from preferred professionals for winning. communicate with students on each course The solution dubbed Bloom-Learn, is a via a chat forum. The innovation is informed “Mentorship plays a critical role in a creation by a team of five students drawn from by a desire to address education challenges student’s life and those who have access different universities in Kenya and Nigeria such as lack of qualified teachers, facilities, to them throughout their study often end and emerged best of the 12 teams comprising and infrastructure especially in public up with an advantage over those who 60 participants. The GOL is organised as a schools due to inadequate funding. don’t. Mentors not only offer support, virtual hackathon and aims to enhance digital encouragement, wisdom and teaching, and coding skills amongst university students “The platform’s mission is to digitise but they also provide knowledge from in Kenya and now extending to Nigeria for education, ensuring that everyone has access their experience which students can Season 2, whilst also helping them to develop to learning opportunities. Furthermore, the learn from and apply in their studies impactful digital solutions to address some platform allows one to donate space and and professional life afterwards,” Ngare of the continent’s pressing challenges. This computers to students, allowing the less explained. year, the task was to develop possible digital

MAY 2021 EDITION | CORPORATE WATCH ICT Digital Land Information Management System Launched In Nairobi Kenya By CW Correspondent & PSCU Kenya’s Vision 2030. end of the year. We project that all the counties will be covered by the end of he Government of Kenya has “The full rollout of the programme 2022,” President Kenyatta said. unveiled Ardhisasa, a digital will facilitate the resolution of Tland information management historical land disputes and guarantee The Head of State further pointed system, marking the end of manual the security and sanctity of your land out that the new digital platform will land transactions. The new system was title deed, true to the clarion Shamba benefit all landowners and potential developed by a team of Kenyan techies Lako, Hati Safi, ” President Kenyatta landowners by providing accurate over a three-year period and is designed said. information required to support to enhance the security of land records, the commercialisation of land in a speed up land transactions and curb fraud. With the unveiling of Ardhisasa, convenient and timely manner. the manual lands information Speaking when he unveiled the new system management system in Nairobi has Ardhisasa project also saw the at the National Geospatial Data Centre in been vacated. However, land owners production of Kenya’s first digital Nairobi, President Uhuru Kenyatta told who might not be able to access their topographical map and those of the Kenyans that the digital platform would records are advised to be patient as nation’s 47 counties, as well as a protect them from exploitation by cartels, the Ministry of Lands continues to cadastral map for Nairobi City County. middlemen and fraudsters. populate the digital platform. The cadastral map enables the Ministry of Lands and Physical Planning to start the process of migration to a unitary regime for land registration in order to curb fraud and cut transaction time. 27

“It is also notable that public land has been separated from private land; and all public land in Nairobi has now been indexed, documented and safeguarded for public use,” the President said.

President Kenyatta commended the team of young Kenyans who for the last three years worked to build and deploy a world-class system at a fraction of the cost previously used to finance unsuccessful attempts at President Kenyatta with Ministry of lands Staff at the launch of Ardhisasa in Nairobi digitization. “With the advent of ArdhiSasa, missing “As we transition fully into the National “Your place of honour in the annals files, perennial fraud, corruption and Land Information Management System of our history is guaranteed and your illegal land transactions will be a matter and to safeguard public interest in contribution to moving the nation of the past. this national endeavour, I call on all forward is immortalized through the Kenyans to co-operate when called work of your hands. The platform is expected to increase upon by the Ministry of Lands and revenue generation due to proper Physical Planning to provide any “You have demonstrated once again valuation, and payment of land rents information required to conclude the that we can rely on home-grown as well as improve urban planning and validation of any land records,” the solutions to develop our country; and infrastructure development. It is also President urged Kenyans. underscored the cost-effectiveness of expected to boost the on-going national working together as one indivisible titling programme of securing rights to President Kenyatta welcomed the Government of Kenya,” President land through issuance of titles. full digitization of the Nairobi lands Kenyatta praised the young Kenyans. registry saying the exercise will be The National Land Information extended to the rest of the country in a Lands CS Faridah Karoney said the Management System is well aligned with phased and gradual manner. digital platform will offer a one-stop- the President’s development agenda, and shop for all Government services and it will play a crucial role in the realization “Another 20 counties will be on- information on land. of the Big Four agenda and attainment of boarded into the digital system by the

CORPORATE WATCH | MAY 2021 EDITION 28

MAY 2021 EDITION | CORPORATE WATCH TRANSPORT

Longonot - Malaba MGR Line and the 216.7km long Nakuru - Kisumu MGR Branch Line, we will have reached an important milestone in our rail infrastructure development that will now see efficient and timely movement of goods connecting the Port of Mombasa to the Industrial parks in Naivasha and beyond to other economic hubs across the country,” he said.

The rehabilitation of Longonot – Malaba MGR section and Nakuru- Kisumu MGR branch line that are 25.1% and 60% complete respectively, is viewed as critical to expanding trade across the East African region and is estimated to Refurbished Locomotives To Grow significantly reduce transport and logistics costs.

Capacity, Speed Up Cargo Movement The new 23.5km MGR link between Naivasha ICD and Longonot MGR By Fred Odhiambo Speaking during a tour to inspect Station that commenced in October 29 the progress of the locomotive 2020 is also 52.5% complete and is enya Railways is refurbishing at the Nairobi expected to be fully operational in refurbishing 31 locomotives Central Workshops, Industrial September 2021 enabling effective Kto increase capacity in & Commercial Development utilization of the Naivasha ICD preparation for operations along Corporation (ICDC) Chairman and improve freight transportation the Longonot – Malaba Metre John Ngumi, who is in charge of to Western Kenya and neighboring Gauge Railway (MGR) section and the Kenya Transport and Logistics East African countries. the Nakuru-Kisumu MGR branch Network (KTLN) affirmed the line, which are currently under Government’s commitment to “Indeed, we project to transport rehabilitation. optimizing cargo movement through 2.45 million and 8.5million tons of efficient railway network. cargo by 2022 via MGR and SGR Among the 31 locomotives, 9 are respectively. “Ngumi added. being rehabilitated and 22 others This is in line with the ICDC’s are undergoing an overhaul under mandate of overseeing the The Kenya Railways Chairman, the partnership between Kenya implementation of the KTLN Maj. Gen. (Rtd) Pastor Awitta added Railways and Kenya Defence Framework Agreement jointly the Nairobi Central Workshop Forces (KDF). signed last year by Kenya Railways which is also undergoing a facelift, Corporation (KRC), Kenya Ports is very instrumental in production Authority (KPA), and Kenya of spare parts for machinery and Pipeline Company (KPC) Limited, infrastructure for the three KTLN to ensure the Networks objectives entities; Kenya Railways, Kenya are achieved. Ports Authority and Kenya Pipeline.

“I’m impressed with the progress This will in turn save the entities of the refurbishment of these costs and time incurred during locomotives which would have acquisition from external sources. otherwise been decommissioned. Currently, the workshop undertakes Once complete, the additional manufacturing, rehabilitation and locomotives and with the maintenance of locomotives, wagons rehabilitation of the 465Km and passenger coaches.

CORPORATE WATCH | MAY 2021 EDITION CSR Manufacturer Backs Effort To Combat Malaria In Kilifi County By CW Correspondent KPNA in promoting public awareness of disease to person through the bites of infected female prevention and enhancing the quality of health Anopheles mosquitoes. he fight against malaria in services, most notably in response to Covid-19. Kenya has received a boost Malaria is a preventable and treatable disease Twith the launch of an initiative Last year, Pwani Oil through KPNA provided but continues to claim thousands of lives each by Mombasa-based manufacturer 122 handwashing kits and 70 cartons of soap year. The World Health Organization (WHO) Pwani Oil in conjunction with the to be distributed to medical personnel in eleven reports that over 229 million people globally were Kenya Professional Nurses Association counties as part of the national response to the infected with malaria in 2019, of whom 409,000 (KNPNA) to sensitize residents of Kilifi coronavirus. died. More than 90 percent of malaria cases in County on preventing and eradicating the world are in Africa, which recorded 384,000 the deadly disease. KPNA National Chair Michael Nyongesa says deaths in 2019. community awareness is a major step toward The project involves educating local communities on malaria prevention through the use of mosquito nets and other simple measures like using soap containing mosquito repellants.

30 Kilifi County has among the highest prevalence of malaria in the country, with 20-50 people out of 1,000 in the county diagnosed with the disease in 2019. Besides offering logistical support, Pwani Oil has also donated, Detrex Citronella soap, which, contains citronella, a natural ingredient that effectively repels mosquitoes and other insects, and Detrex hand sanitizing gel.

The items were handed over to the community and to health officials at Lenga Dispensary in Kambe Ribe Kenya Progressive Nurses Association national secretary Triza Ireri (Right) explains Ward, Rabai sub-county in Kilifi. the benefits of using Detrex- a mosquito repelling soap to residents of Kambe Ribe Pwani Oil Commercial Director Rajul Ward, Rabai sub-county in Kilifi County as part of a campaign to sensitize them Malde says the initiative involves on preventing and eradicating Malaria. She is flanked by Peter Penda – Lenga supporting local communities in Dispensary Community health worker. Pwani Oil made a mosquito repelling soap actively fighting malaria even as they and hand sanitizer donation that will benefit over 1,000 residents in the area. address Covid-19. reducing the burden of malaria particularly in Kenya National Bureau of Statistics data shows “Lack of access to mosquito nets and counties where the disease is prevalent like Kilifi. malaria is the second biggest cause of reported other basic malaria interventions “Besides improving access to treatment, deaths after respiratory infections. But according especially among poor communities prevention is an effective weapon in winning the to the Kenya Malaria Indicator Survey (KMIS) constitutes a major gap in the fight war on malaria. This calls for new strategies to 2020 malaria prevalence in Kenya has declined against this disease. Our partnership enhance the capacity of local communities to from eight percent in 2015 to 5.6 percent in with KPNA is part of ongoing activities control mosquito vectors and protect vulnerable 2020. This has been attributed to increased use by Pwani to support communities in groups like children and pregnant women,” of insecticide-treated bed nets and seeking early addressing social and health threats stated Nyongesa. treatment thus reducing mortality rates. like malaria and Covid-19,” said Malde. On April 25, Kenya joined the rest of the world The Ministry of Health recently announced plans in marking World Malaria Day, with calls to to distribute 15.7 million insecticide-treated He added that the manufacturing intensify efforts to eliminate the deadly disease mosquito bed nets in 27 counties highly affected firm has been working closely with caused by parasites transmitted from person by malaria.

MAY 2021 EDITION | CORPORATE WATCH INSURANCE

insurance products.

“The future of insurance depends heavily on the ability of industry players to attract the young people to embrace insurance. There is need for all of us to emphasize on affordable and equitable access to good-quality health services for all. With Simba Health Junior, we see this as a step in the right direction towards cushioning our young people against the vagaries of health-related complications,” Dr. Gatonga said.

In Summary • KCB Simba Health Senior targets the elderly from KCB Insurance Agency, Managing Director (MD), Aggrey Mulumbi (right), with, Jubilee Insurance Limited CEO, Dr. Patrick Gitonga, during the launch of KCB Simba seniors and 60 years and above and children medical insurance plan partnership with Jubilee Health. KCB Insurance Agency the cover provides access in collaboration with Jubilee Health Insurance has launched a medical cover designed to to a wellness package provide care to children under 24 years and senior citizens. and chronic disease management. 31 KCB Partners with Jubilee Health to • KCB Simba Health Junior caters for children launch Unique Seniors, Juniors Scheme whose parents’ medical insurance scheme limits CB Insurance Agency in people as they are more likely to have the number of children collaboration with Jubilee chronic conditions and therefore, they on the cover or excludes KHealth Insurance has are more likely to be denied care launched a medical cover designed when they get sick. dependants in a policy. to provide care to children under • KCB Simba Health senior 24years and senior citizens. “Simba Health Senior seeks to alleviate these problems by reining and Simba Health Junior The proposition for children is dubbed in on costs for seniors while creating set to benefit parties KCB Simba Health Junior and caters greater stability and security for whose needs had not been for children whose parents’ medical the older generation” said Aggrey previously addressed. insurance scheme limits the number Mulumbi, the Managing Director at of children on the cover or excludes KCB Insurance Agency. • Young adults are the most dependants in a policy. It also takes underinsured presenting a care of children who do not have an “Health insurance facilitates access great opportunity to reach existing medical cover. to care and is associated with lower them through flexible death rates, better health outcomes KCB Simba Health Senior targets and improved productivity. Therefore, and affordable insurance the elderly from 60 years and above this is an opportunity for all citizens products. and the cover provides access to a across the region to take full • The insurance covers will wellness package and chronic disease advantage of and secure their loved management. one’s health.” address the insurance needs of children and This is in realization that senior Dr. Patrick Gatonga the Chief senior citizens across the citizens face unique and often Executive officer at Jubilee Health wide economic strata daunting challenges in finding Insurance noted that young adults given the significant affordable, high-quality heath care. are the most underinsured presenting Insurance covers for older people tend a great opportunity to reach them increase to escalating costs to be higher than those of younger through flexible and affordable of medical care.

CORPORATE WATCH | MAY 2021 EDITION REAL ESTATE

a unique AGM.” Mr. Chimphondah noted 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 40th 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 Shelter Afrique Headquarters Next Forty Years. Our 40th year will be one of retrospection,” Mr. Chimphondah said.

Shelter Afrique to Hold its The Company’s 29th Annual General Meeting held in Uganda in th 2010 addressed housing policies 40 AGM in Cameroon in Africa, elaborating on the policy implementation, effectiveness, impact, 32 By Francis Zyder , and sharing lessons learnt. In Summary ameroon will host Shelter Afrique’s 40th Annual General “We believe as we navigate this new • The pan-Africa housing development CMeeting (AGM) and annual decade and the realities that this housing symposium in Yaoundé. The pandemic has thrown into sharp relief, financier is expected to onboard a new event is scheduled to take place between there is a need to review Africa’s shareholder. 20th – 26th June 2021 under the theme: housing policy environment. Not Four Decades of Affordable Housing merely to measure growth, successes • The event is scheduled to take place Policies in Africa: Mapping the Next and challenges but, more importantly, between 20th – 26th June 2021 under Forty Years. to forecast the next forty years to shape policy for our member-states and the the theme: Four Decades of Affordable Shelter Afrique Group Managing way we approach low-cost large scale Housing Policies in Africa: Mapping Director & Chief Executive Officer and delivery of housing in Africa,” he added. the Next Forty Years. Cameroon’s Minister of Housing and Urban Development Hon. Celestine Noting the limitations presented by • The Company’s 29th Annual Ketcha Courtes (who is also the 1st COVID-19 pandemic on travel and Vice-Chairperson of the AGM Bureau) gatherings, Mr. Chimphondah said this General Meeting held in Uganda signed the hosting country agreement in year’s AGM will be presented as a hybrid in 2010 addressed housing policies Yaoundé. of in-person and virtual attendance. in Africa, elaborating on the policy Shelter Afrique successfully held its first Commenting on the country’s readiness, virtual AGM in 2020 in Nairobi, Kenya. implementation, effectiveness, impact, Ms. Courtes said: “We are eager to share and sharing lessons learnt. the Cameroonian hospitality but, more New Shareholders… importantly, to engage with the Finance In addition to mapping the next forty • Noting the limitations presented by Ministers and Housing Ministers that years for the Company, another item high COVID-19 pandemic on travel and will be present from the 43 member on the agenda will be the onboarding countries, Africa Development Bank, new Class “B” shareholder and creating gatherings, this year’s AGM will be Africa-Re, and other stakeholders in further opportunities of Class “C” presented as a hybrid of in-person and the housing and financial sectors, to shareholders for non-African institutions virtual attendance. Shelter Afrique collectively find pragmatic solutions and private companies to invest in the to the housing crisis in Africa, more Company as a means of expanding the successfully held its first virtual AGM so during this post-COVID-19 era. As Company’s capital subscription base in 2020 in Nairobi, Kenya a country, we are committed to host and fundraising.

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KEPSA, CANADA- AFRICA CHAMBER OF BUSINESS ANNOUNCE (MOU) By Francis Zyder he Kenya Private Sector Alliance and The Canada- TAfrica Chamber of Business are proud to announce collaboration to promote, support and facilitate bilateral trade and investment opportunities from Canada into Kenya.

KEPSA, represented by the CEO Ms. Carole Kariuki Karuga Allianz Completes Majority Stake Acquisition signed the Memorandum of Understanding (MoU) with In Jubilee General Insurance, Kenya the Canada-Africa Chamber of Business (CACB) represented by llianz, one of the world’s leading insurers The two companies of Allianz in Kenya, Allianz its President Mr. Garreth Bloor to and asset managers has become the Insurance Company of Kenya Limited and promote, support and facilitate Amajority shareholder in Jubilee General Jubilee Allianz Insurance Limited will continue bilateral trade and investment Insurance Limited in Kenya. to operate separately until their operations 35 opportunities from Canada into are consolidated into Jubilee Allianz General Kenya. This follows the acquisition of a 66% stake in Insurance Limited, which is subject to regulatory the company, representing 1,522,622 ordinary approval. The Canadian High shares, from Jubilee Holdings Limited (JHL), Commissioner to Kenya MRS East Africa’s largest insurance group who are “All contracts issued by the two companies Lisa Stadelbauer, Ministry of retaining a 34% shareholding in the company. remain valid and we will continue to honor Foreign Affairs Kenya Director our commitments and deliver the quality of General Bilateral and Political The acquisition follows the execution of an service that Allianz is known for globally,” Affairs Amb.Galma Boru, Mr. agreement signed on September 29, 2020, commented Nandini Wilcke, the Regional Head Deepak Dave CACB Kenya, whereby Allianz agreed to acquire the majority of Mergers & Acquisitions for Allianz Africa. Mr. James Mureu KEPSA shareholding in the short-term general (property “This transaction gives us a bigger platform to Economic Diplomacy Sector and casualty) insurance business operations of offer Allianz’s wide range of insurance products, Board Chair amongst other high JHL in in five countries in Africa, namely, Kenya, from simple digital products to flexible corporate level dignitaries were present to Uganda, Tanzania, Burundi and Mauritius. solutions,” added Coenraad Vrolijk. witness the MoU signing. Following this acquisition,Jubilee General This is a historic development for the Jubilee The MoU will seek to accelerate Insurance LimitedinKenyaisnowa company Group and through this partnership, Jubilee Canada-Kenya trade and of the Allianz Group and upon completion of and Allianz aims to jointly expand and broaden investment, following initial corporate filings will operate as “Jubilee Allianz insurance market s across East Africa, leveraging discussion last year in Nairobi. General Insurance Limited”. Jubilee insurance’s deep regional knowledge, extensive networks and brand reputation with The first engagement will be a The transaction is Allianz’s second direct the global expertise and capacity of the Allianz virtual trade mission to Kenya investment in the country, after establishing Group. from Canada in May. Allianz Insurance Company of Kenya Limited as a greenfield operation in 2014. “Alone and Nizar Juma, Chairman of JHL stated: “We The 3-year agreement MoU together with the recent acquisitions in leading are pleased to embark on the first step of was signed during the Second African markets of Nigeria and Morocco, this our strategic partnership with Allianz, which Session of the Binational transaction is a reflection of Allianz’s long-term will support Jubilee’s ambition to increase Commission meeting between commitment to Africa and fits with our ambition insurance awareness and accessibility across the Governments of Kenya to gain leadership positions in key markets in East Africa by providing innovative, affordable and Canada – and is subject to the continent”, stated Coenraad Vrolijk, Allianz and technically advanced property and casualty ongoing renewal. Africa Regional CEO. insurance products to consumers across the region”.

CORPORATE WATCH | MAY 2021 EDITION Corporate Kenya and the National Museum The work of managing a country’s heritage is demanding in on various aspects of our heritage from Astronomy and star gazing terms of resource; manpower, equipment, time, and finances. to bird watching. The two institutions host talks that debate World over, museum operations are financed through grants fundamental aspects of culture and their relevance today. and donations, as well as funding from the exchequer. This membership also affords members of staff free access to the different Museums based on the type of membership package In Kenya, when it comes to the Museum, little is known of the undertaken. research work behind the various displays in the public galleries. The Museums are essentially research institutions with highly SPONSORSHIP OF PROJECTS qualified scientists engaged in the discovery and ascertainment There are different projects being undertaken at the National of various aspects to do with Kenya’s heritage. Museums of Kenya being run by the different departments; botany to ichthyology, education outreach programs to sensitization When it comes to heritage, it refers to cultural heritage, programs. All these require heavy funding to see them Kenya’s history, the arts and the rich natural heritage executed and run in the different regions around the found within Kenya’s borders. country. Some projects include converting the Museum buildings into green buildings making The research in culture involves collating them energy efficient through the use of wind and collecting cultural artefacts, research or solar energy. on different cultural practices, and understanding the differences or IN KIND DONATIONS 36similarities in practices for different Donations need not be in cash. Many of tribes, or different regions, and what the research laboratories at the museum influences the differences; environment require refrigeration equipment. A or something more deep seated in the corporate may therefore choose to support people. the Museum by taking on the refrigeration aspect by supplying the machinery and With regards to the natural heritage, the going further to sign on a maintenance science with respect to the human effect on contract as part of their donation. Some of the various species as well as the continuing the donation may be in providing concrete to evolution helps educate the masses on the the Museum for the maintenance of some of the changes happening in the environment and structures. This kind of support lessens the pressure action that can be taken to protect the environment. put on the funding from the exchequer, and that the Museum facilities are regularly upgraded. CORPORATE KENYA’S ENGAGEMENT Corporate Kenya is not as engaged with the country’s heritage MUSEUM OF THE FUTURE as it should be. “Mea Culpa!” This fault lies squarely with the Museums are essentially record houses of a peoples past, present, Museum. The museum’s bounden duty therefore is to invite and a future they envision. When it comes to implementing futuristic corporate Kenya and share with them the knowledge we hold, aspects to the existing galleries, the Museologists and Curators may and propose ways of engagement. have visions of the future, but not have the financial resource to execute it. MEMBERSHIP INTO THE MUSEUM’S FUNDRAISING SOCIETY This is the simplest way to engage with the National Museums The Museum therefore welcomes corporate Kenya to partner in of Kenya and this would be through the Kenya Museum Society, ways that will make the Museum more engaging for the gaming or Nature Kenya. These institutions work to raise funds for the generation that speaks in smart technology, Artificial Intelligence work of the National Museums of Kenya. Membership exposes and are well versed in Virtual or Augmented reality. corporates to the different events held to enlighten the public

NATIONAL MUSEUMS OF KENYA Box 40658 – 00100, Nairobi, Kenya OVER A CENTURY OF Email: [email protected] Website: : http://www.museums.or.ke MAY 2021 EDITION | CORPORATE WATCHHERITAGE MANAGEMENT BUSINESS

Diageo taps EABL HR chief top London role By Francis Zyder in an environment where everyone is valued for who they uniquely are. I’m ast African Breweries Ltd proud that my promotion epitomizes Group Human Resources this culture,” said Ms Otieno. EDirector Ednah Otieno has been appointed Human Resources Ednah’s focus on creating fulfilling Director for Diageo in Great Britain. employee experiences ensured business continuity through the Ms Otieno becomes the first Kenyan COVID -19 pandemic period by appointed to the role and will take putting health and wellbeing at the office on 1st July 2021. heart of conversations and actions and ensuring that employees were “I’m happy and proud to announce fully supported. that Ednah will be moving to lead the HR role in Diageo in the next three Ednah’s promotion comes four and a months. Ednah is a consummate half months after Mrs Karuku took up professional with an enviable track office on January 1, 2021 as the first record, and I’m sure that she’s more woman Group Managing Director for In Summary than equal to the task ahead of her,” East African Breweries. said EABL Group Managing Director • At EABL, Ednah is credited with Jane Karuku. She has a distinguished 18-year career in the Human Resources field, delivering outstanding performance At EABL, Ednah is credited with which she started as a Graduate and inspiration, creating a strong delivering outstanding performance Trainee at East African Breweries 37 succession pipeline, embedding a and inspiration, creating a strong Limited (EABL) in 2003. She later succession pipeline, embedding moved into different roles within continuous learning culture and a continuous learning culture and the HR team in Talent, Reward and enabling self-directed learning. enabling self-directed learning. Shared Services.

• Ednah Otieno becomes first Kenyan “Her passion for inclusion and Ednah left the company in 2014 as promoted to GB office and will take diversity was instrumental in Head of Reward for Diageo Africa implementing the parental leave to join Airtel Africa as the Head office on 1st July 2021. policy that led to 6 month and of organisation Effectiveness and • Ednah’s focus on creating fulfilling 1-month maternity and paternity Reward. leave, respectively. In addition, employee experiences ensured business Ednah has led the focus on improving Ednah later moved to Mars Wrigley continuity through the COVID -19 gender diversity in the overall East Africa as Head of People & population through parity hiring and organisation in 2015, which she held pandemic period by putting health and early career programs,” said Mrs until she rejoined Diageo as Group wellbeing at the heart of conversations Karuku. Human Resources Director, EABL, in and actions and ensuring that August 2017. With the Leadership team, Ednah employees were fully supported has been instrumental in leading Ednah is a commercially focused the change in culture towards cross- HR Leader, instrumental in shaping • This historic promotion falls in line functional collaboration across a progressive and inclusive culture with the diversity and inclusion different levels whilst ensuring a and as a highly trusted advisor and agenda of the Diageo Group. EABL simple, agile and fully resourced partner to her colleagues. organisation. celebrates diversity and strives to “I am sad to see Ednah leave the East create an inclusive culture that enables “This historic promotion falls in Africa team, but at the same time, I line with our diversity and inclusion am delighted with this move as she every individual in the organisation to agenda that of the Diageo Group. At will build on her experience to make contribute and grow in an environment EABL, we celebrate diversity and a difference in Diageo Great Britain,” where everyone is valued for who they strive to create an inclusive culture said Mrs Karuku. that enables every individual in the uniquely are. organisation to contribute and grow

CORPORATE WATCH | MAY 2021 EDITION OPINION The ‘New Normal’; How Internet of Things Can Help Grow Your Organization

companies may face in device management, performance, IoT devices, which has created availability, security or data processing time, most more access. For better experience, businesses are beginning to find that the significance of businesses provide a more IoT device networks are indispensable. personalized user experience where the data and analytics help gain a In this pandemic and beyond, why should organizations better insight into how customers integrate IoT for the growth of their operations? use their products and services. Companies can leverage on IoT Reduced business expenses technology to create user-friendly Beside physical locations, the IoT technology can be online stores for faster and reliable utilized to have lower maintenance costs while at the online purchases. same time driving sustainable growth. With inventory management for instance, many businesses face While the challenges remain the challenges of record tracking due to delays with orders implementation and adoption of and wasted stock taking, a big threat to productivity levels IoT solutions, companies need to and profits. embrace the advancing trends with By Allan Lwanyaga the uncertain future pandemics. Fleet management achieve rapid ROI he global uncertainty Fleet and cargo tracking on transit have made management To effectively bridge the gap between 38 occasioned by the COVID- easier through technology with respect to the Return- hardware and digital world, having T19 pandemic, has fashioned on-Investment (ROI), reducing losses caused by theft, technology experts will assist team a stage for innovation, where damage of goods and malpractice by truck drivers. With members understand IoT devices individuals and businesses have IoT applications, fleet managers optimize operational firmware and make data-driven been compelled to reorganize how to costs by creating driver performance monitoring systems decisions that add value to the conduct their affairs. along with the date from vehicles, allows organizations running of a business. Selecting the to foster and improve behaviours such as vehicle speed. best technologies tailored to maintain From digital health, revolutionized Devices that support different networks include cellular, productivity will help with stay up- security, infrared temperature satellite and lower-power wide area assist in maintenance to-date technology trends. checks, social distancing, shopping and communication. for groceries online to attending The future is IoT technology meetings remotely via social media Remote working opportunities bearing in mind that the future is Apps such as Zoom. One of the biggest advantages of IoT technology is that unpredictable. This is expected to employees no longer have to be physically in the office change how organizations and the While the pandemic has had an to complete their work tasks. There is an observation of society conduct themselves through international threat to businesses, increased productivity levels within the workplace thanks a new face of smart buildings coming marketplaces, economic environment to IoT technology, which encourages collaboration and up in the larger smart cities. and the society at large, many are communication between team members. looking to Internet of Things (IoT) There will be deployment of systems devices as one of the approaches Improved business security that will promote touchless technology to define the emergence of the ‘new Installation of security systems such as burglar alarms, and ensure adequate ventilation normal’. fire and smoke detectors, wireless CCTV systems, access for the sake of the citizens. Having control and tracking devices mounted in business premises sensors that detect and track the Many activities have since changed to to boost safety and surveillance. With IoT technology, presence of communicable diseases remote, digital and more connected, most security devices are monitored on a smart device. such as COVID- 19 in indoors and broadening the use of technology public spaces, markets, grocery to achieve various objectives in Enhanced user experience stores, public transport, airports, business continuity processes as the Consumer demands have evolved over the years, hospitals, religious and learning strive to contain the spread of corona with shoppers’ preference to make online purchases institutions will ease tracking aimed virus infections continue globally. conveniently without necessarily having to go to a at reducing the risk of infections. physical store. Data and analytics provide a platform on While there are challenges that how customers use their products and services through Mr. Allan Lwanyaga is the Group IT Manager, SGA Security

MAY 2021 EDITION | CORPORATE WATCH Pan-African Performance

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CORPORATE WATCH | MAY 2021 EDITION LOGISTICS SPOTLIGHT | APRIL - JUNE 2020 21

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