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Friday March 27, 2015 - Sunday March 29, 2015

NO. 2061

Centum signs Sh2bn

sweetheat deal with
UK duo fo Vipingo

STATE OF THE NATION

Agreement with British brothers ends stalemate

over a hostile takeover bid by the NSE-listed rm
BY VICTOR JUMA

Mr James Mworia, Centum chief

executive ofcer. FILE

Investment rm Centum has reached

a multi-billion shilling sweetheart deal
with two British brothers that will see
it withdraw its hostile takeover bid
for Rea Vipingo, an NSE-listed agricultural rm majority owned by the
UK citizens.
The deal, which was led yesterday with the capital markets regulator,
will see Centum acquire 10,546 acres
of prime Rea Vipingo land for Sh2 billion in exchange for withdrawing its

rival bid.
The settlement allows Richard and
Jeremy Robinow, whose investment
vehicle REA Trading already owns 57
per cent of Rea, to proceed with their
oer to buy out the company at a price
of up to Sh85 per share and de-list it
from the stock market.
The Authority has no objection to
the sale of shares and land by the offeree as indicated in your letter, subject
to Rea securing shareholder approval
for the same, said
the Capital Markets CENTUM, Page 4

Uhuu faces up to couption

ghost with step-aside ode

BRIEFING
NEWS INDEPTH

Passport applicants to go online

The Immigration Department will from next
month stop accepting physical application
of passports to seal loopholes that have
seen foreigners get the permit.

BY EDWIN MUTAI

Page 5

Universities take
over commercial
buildings at the
heart of Nairobi
Pages 12.13

Safaricom touches record high

Safaricom yesterday touched a historic
trading high of Sh17 on the Nairobi Securities
Exchange raising its market capitalisation
by a hefty Sh41 billion compared to Monday
this week.
Page 19

President Uhuru Kenyatta and Speaker of National Assembly Justin Muturi (left) after
the President addressed a special joint sitting of Parliament yesterday. BILLY MUTAI

Pages 15-18

Faced with calls to tame graft in the Civil

Service, President Uhuru Kenyatta yesterday made the boldest step by directing
all government ocials named in a corruption dossier that he tabled in Parliament to step aside, pending the conclusion of investigations into the claims.
Of late, Cabinet Secretaries and
Principal Secretaries have been publicly named in cases that touched on their

integrity. The President also ordered the

Director of Public Prosecutions Keriako
Tobiko and Attorney- General Prof Githu
Muigai to prosecute the culprits and conclude the cases within the next 60 days.
Under the Anti-Corruption and Economic Crimes Act, a person charged can
be ned upto Sh1 million ne and a jail
term of up to 10 years or both if found
guilty.
They would also vacate their positions and are CORRUPTION, Page 2

BUSINESS DAILY | Friday March 27, 2015

TOP NEWS

STATE OF THE NATION

Uhuu tells oces

named in couption
pobes to step aside
banned from holding award British printer Smith and Ouzpublic posts.
man multi-million shillings contracts
The annexed dossier, which had to print electoral materials. Two of the
been given to the President as a clas- former managers of the printing rm
sied copy by Ethics and Anti-Cor- were convicted and sentenced by a Britruption Commission Chief Executive ish court for bribing Kenyan ocials to
Ocer Halakhe Waqo, was tabled in win lucrative tenders.
Also in focus is Defence principal
Parliament as part of the State of the
secretary Mutea Iringo whose name
Nation address.
It was one of the three reports that has featured prominently in the bribery
he tabled in the House. It lists names claims against the chairman and memof individuals linked to corruption bers of the Public Accounts Committee.
Mr Iringo has denied allescandals, according to the
gations that he gave Sh1.5
President.
million to ve members of
The revelations might
I attach a
PAC to inuence its report
not be good news for Encondential
ergy and Petroleum secon the investigations into
the Sh2.8 billion condenretary Davis Chirchir and
epot fom
tial expenditure by the ofIndependent
Electoral
CEO of the
ce of the President.
and Boundaries Commiscommission as
sion chairman Isaack HasMr Kenyatta declared
san who were linked to corannexue to my that he had personally
ruption in the procurement
drawn the line on pervasive
epot
of printing materials at the
corruption and challenged
electoral body.
Parliament and Judiciary to
PRESIDENT KENYATTA
do the same.
Mr Chirchir and Hassan were accused of taking bribes to
The CEO of EACC says the insti-

From Page 1

President Uhuru Kenyatta addressing a special joint Senate and National Assembly
sitting yesterday. BILLY MUTAI
tution and especially its secretariat is
under siege because of the nature of
cases they are currently investigating.
I ask this House to deal with this matter expeditiously.
For the sake of transparency, I attach
a condential report from CEO of the
commission as annexure to my report
to this House, Mr Kenyatta said amid a
standing ovation from MPs.
He directed that all ocials of the national and county government adversely
mentioned mention in the report to immediately step aside pending the conclusion of investigations.
Whether you are a cabinet secretary,
principal secretary, a CEO of State corporation, chairman or CEO of independent
commissions or county government ofcials to immediately step aside pending conclusion of investigations into the
corruption claims. I equally expect the

legislature and the judiciary will also do

the same, he said.
The President told Parliament to
move with speed and determine the
fate of EACC chairman Mumo Matemu
and his two deputies, Irene Keino and
Prof Jane Onsongo, following a petition
to the House for their removal.
Amid standing ovation, Mr Kenyatta
said: EACC is embroiled in nger pointing likely to subvert the cause of justice.
I dont re, kazi ni yenu yakuwatoa. Watoeni Nyinyi ( the job is yours to remove.
you remove them).
President Kenyatta said from the report of the EACC secretariat, he believes
that the ght between the commissioners
and the secretariat is a further attempt
to subvert successive prosecution of the
Anglo Leasing scandal suspects.
From EACC to Parliament premier
oversight committees, the corridors of

justice and security agencies, Kenyans

have witnessed betrayal of trust in the
ght against corruption, he said.
Mr Kenyatta said his determination
to get back the billions of shillings lost in
Anglo leasing scandal including the payment of Sh1.4 billion to shadowy Anglo
Leasing rms to unlock Kenyas rst sovereign bond was being frustrated.
EACC is required to uphold highest
standard of personal responsibility. Let
it be known that today I draw the line.
Nobody will stand in the ght against
corruption, he declared.
He told EACC to ensure that the DPP
receives the subject les for individuals
linked in the dossiers without delay.
It is not my place to determine the
guilt or otherwise on any of the people
mentioned in the said report, but time
has come for us to send a strong signal
to the county that we will not expect
anything less than highest standards of
integrity, Mr Kenyatta said.
He also touched on the recent scandals facing the House which cast aspersions on Parliament.
I urge you to take urgent measures
to restore the integrity and dignity of
Parliament which is the cornerstone
of our democracy. The war on corruption will never be won unless all arms
of government play their role and act
decisively against perpetrators of corruption, he said.
President Kenyatta directed the Attorney-General to review the enabling
legislations with a view to tightening
the noose for prosecution of corrupt
individuals.

HIGHLIGHTS OF PRESIDENT UHURU KENYATTAS STATE OF THE UNION SPEECH

ECONOMY

JKIA EXPANSION

PROCUREMENT

Royalties in the mining sector have

sharply increased from Sh21 million
in 2012, and are expected to hit Sh 1.2
billion this nancial year.
Ination has been contained at single digits, capping the prices of basic goods for Kenyans while interest
rates are falling.

JKIAs Terminal 1, which was completed by October 2014, carries 80

per cent of all business at the airport. President Kenyatta to commission the Greeneld terminal
in the next few days.

Sh9.4 billion worth of contracts

awarded to women, youth and
persons with disabilities in the
rst half of this nancial year.
This is expected to increase to
Sh30 billion by the end of the
year.

ELECTRICITY
Since March 2013, 514.9 megawatts of electricity have been added to the national grid,
making available a total of 2,125MW.
Kenya is now the worlds eighth largest geothermal producer with a steam power capacity of 579 megawatts.
18,424 schools have been connected to the
national grid. The remaining 3,076 schools
to be connected by the end of April.

SGR and MOMBASA PORT

Close to half of the 609 kilometer
track of the Standard Gauge Railway has been excavated and ready
for sleepers.
Expansion and modernisation of the
Mombasa port has led to a reduction in
freight time by over 75 per cent. Further
gains are expected with the imminent
completion of Berth 19 and the soon to
commence Berth 20 and 21.

EDUCATION

LAPSSET

LAND REFORMS

HEALTHCARE

Sh1.2 billion has been transferred to

21,458 schools for construction of ICT
hardware storage rooms, and more
than 2,500 teachers have undergone
training in preparation for the Laptop
Project. Budgetary allocation to the
education sector increased from Sh30
billion in 2013/14 to Sh40 billion. Free
and compulsory primary and secondary school education in 5 years.

The administrative infrastructure for

LAPSSET is complete and President
Uhuru will, in the next few days, break
ground for the construction of the initial three berths of the Lamu Port.
LAPSSET will deepen regional integration and Africas interconnectivity and
trade and open up the Northern Kenya
to trade and investment.

Reorganisation and clean-up of Nairobi and Mombasa land registries is

complete.
Digitising of Nairobi Registry is also
complete and digitizing of the remaining 13 land registries will be complete
by June 2015.

The government has invested

Sh38 billion to roll out the Managed Equipment Services Programme. Five global suppliers
have assessed 94 hospitals in the
47 counties and four national
referral hospitals. They will deliver the necessary equipment
beginning May.

Friday March 27, 2015 | BUSINESS DAILY

TOP NEWS
RADAR SCREEN

C H A R L E S M WA N I K I

Cown paints healthy pictue on building boom

plastic container packaging,
Once the container is opened
it cannot be reused to package paint unlike the metal tins
which are easy to reuse.
On our major premium
products, this year we are moving to plastic containers.
We also introduced a seal
on the containers from last
year. We have invested heavily
over the past two years in this.
There is also a code on the seal
and a customer can call our call
centre, state this code and will
be told whether the product is
genuine or not.

MANUFACTURING Paint companys

chief executive lays out growth

plan after recent prot warning

he more than a decadelong real estate boom

has raised demand for
paint as well as increased competition among manufacturers
in the industry who are now
crossing borders to look for
new markets in neighbouring
countries.
Crown Paints chief executive Rakesh Rao, who was voted
CEO of the year at the Company of The Year Awards (COYA)
2014, spoke to
Business Daily
about the opportunities and
challenges facing
the industry as it
seeks to widen its
reach across the
region.

it does not matter to them.

The big players sitting there
will want to protect their turf
from the Kenyan competitor
and are going to ght back.
We had previously been going
there in a small way so as not
to incur a lot of costs, but last
year we took a call and decided
to blast in.
This meant that we would
inevitably give a prot warning. But we have been returning
prots for 10 years.
Shareholders can
wait for one year
because they have
been pushing us
to expand in the
region to improve
margins and market share.

Crown Paints
recently announced
a
prot warning. What affected your performance
with all the buildings and
roads coming up?
It is due to operational and advertising costs. We have spent
more than $1 million (Sh91 million) in Tanzania and Uganda
on advertising, putting up billboards, running campaigns
and adverts.
When you go into a new market you have to go there forcefully otherwise people will not
recognise you as a player. Even
if you are a big player in Kenya,

What then is the

payo for this expansion and the
reasoning behind it?
Regional expansion is logical
because we hold a high market share. As Crown, we want
to make our company worth
about Sh12 billion by 2018 or
2019. We cannot just depend
on Kenya for this, hence the
regional move.
We started a small factory in
Arusha to cater for that market.
Paints carry a lot of water and to
transport all the supplies from
here is a challenge. There are
some border issues as well going into Tanzania.

Mr Rakesh Rao, Crown Paints chief executive ofcer. FILE

We take about 10 to 15 days
to get goods to Tanzania from
Kenya, meaning that the supply chain logistics get aected.
Manufacturing here for that
market means we would take
up to a month before getting the
product on to the market.
We plan to come up with
small satellite plants in different parts of the region meet
specic markets.
What is your market share in
the paints sector and how are
you faring in the region?
We have engaged a research
company to work throughout
Kenya, surveying more than
1,000 sellers every quarter and
they report to us. Our market
share in Kenya is between 65
per cent to 75 per cent.
In the Tanzanian market, we
have a reasonable market share
in Arusha, where we can say we

have broken even. Mwanza only

started last year and the market there is still quite low-end
so it has presented a few challenges.
Product portfolio mix is different between local and the regional markets where we sell 30
per cent premium and 70 per
cent economy, while in Kenya
it is 75 per cent premium and
25 per cent economy.
Uganda is growing by 40 per
cent per year, but well establish
the premium brands slowly. We
are still looking for market maturity there.
The paints sector has been
under siege from counterfeits. How is Crown tackling this menace?
This is a challenge for us. We
have, however been more
innovative with our packagingmoving more towards

What do you take into account before introducing a

new product and what have
you lined up?
We have an innovation committee which comes up with
ideas that are then given to the
research and development team
for actualisation.
We always have a gap analysis
tracking what is happening
in the international market.
We identify products that we
dont have in Kenya and decide
which we can develop and bring
into the market.
Paint manufacturers are
looking to oer after-sale
services as competition
grows. How you go about
it?
We have Crown decorator
services. Once a customer contacts us and states his need,
our people can visit his or her
premises, measure the scope of
the work and give a quotation.
After payment we start the
work. We have a team of more
than 15 painters

Some of the products we are

oering require a lot of skill and
quality workmanship. We have
trained more than 7,000 painters across Kenya. We currently
training 100 painters on our
high quality products.
Is paint consumption keeping up with that of related
construction sector components such as cement and
roong materials?
The demand is there. It is being supported by construction
growth. The trend is positive
since we see a lot of infrastructure being developed before
2030. This boom is helping
our industry to grow.
The construction sector is
growing by 12 to 13 per cent
every year and we are growing
by 17 per cent. We have a lot of
products and showrooms, so
this could be the reason why
our growth is higher.
But the operational costs
are more than the volumes. In
the regional market it will take
two to three years to build the
necessary volumes.
What are your nancing
plans at this time of expansion, also taking into account
that you are listed and thus
have access to a larger pool
of capital?
We try to use retained prots
and bank facilities, both long
and short term, in our nancing. We are for instance spending Sh400 million on a plant
in Kisumu using both of these
avenues.
cmwaniki@ke.nationmedia.com

BUSINESS DAILY | Friday March 27, 2015

TOP NEWS

Centum signs deal

with UK bothes
fo Rea Vipingo
Authority acting chief executive Paul Muthaura in
a letter to the Rea chairman Oliver Fowler
on February 23. Centum will in turn snub
the sale commitments it had received from
a section of Reas investors last year as
it fought to recruit shareholders controlling at least 25 per cent of the rms
stock. The investment rm had set the
threshold as a condition for proceeding
with the buyout.
The Rea Vipingo buyout has stalled
for more than a year, with the two parties
engaging in bidding wars and litigation
at the High Court and the CMA tribunal.
Centum says the land it will acquire
will continue to be used as sisal plantations
by Rea for the foreseeable future, meaning
that the agricultural rm will be a tenant
of the investment company.
The Robinows will, as per the deal, own
nearly 60,000 acres of land upon completion of their buyout since the Nairobi Securities Exchange-listed rm has a total of
69,500 acres in Kenya and Tanzania.

From Page 1

The Britons will need shareholders approval to ratify the deal, which Centum has
committed to give making the sale as good
as done. Centum, which has a 0.49 per cent
stake in Rea, has also undertaken to support the agenda items at the shareholders
meeting slated for April 28.
The transactions are expected to unlock value for Reas minority investors
who have endured trading suspension
since November 2013. Centum and the
Robinows have agreed to work in concert
to full all the conditions of their agreement, including the withdrawal of cases
that had been led by the investment rm
opposing Rea Tradings bid.
The parties had engaged in a series
of bidding wars since the Robinows rst
made a buyout oer of Sh40 per share in
November, with Centums last oer standing at Sh75 per share. The Britons had
raised their bid to Sh70 per share and a
possible top-up of Sh15 per share representing distribution of gains from sale of
the companys land holdings.

Reas shareholding
A bid by Kenyalogy.com and its
afliates was rejected by CMA

Aerial view of Vipingo Ridge golf course. It is an 18-hole course surrounded by luxury
villas. FILE
It is this promise to pay an additional
Sh15 that led to the aggressive litigations
by Centum which argued that the oer is
uncertain and should be rejected by the
markets regulator.
Besides the uncertainty of the extra
cash, Centum had also argued that it is
unfair for the Robinows to buy the company using proceeds from its assets which
belongs to all current shareholders.
The brothers promise to distribute
gains from disposal of Reas land is contingent on earning a prot from such
transactions, among other conditions.
The prot in this case refers to any
amount in excess of Sh175,000 per acre
and net of taxes and transaction costs.
Centum says that its impending purchase of land from Rea should satisfy

REPUBLIC OF KENYA

MINISTRY OF ENVIRONMENT, WATER AND NATURAL RESOURCES

STATE DEPARTMENT OF WATER
KENYA WATER SECURITY AND CLIMATE RESILIENCE PROJECT (PHASE 1)
(Project No. P117635; Credit No. IDA52680)

RE-ADVERTISEMENT
EXPRESSION OF INTEREST
REF: MEWNR / KWSCRP-1 /003/2014-2015
STRATEGY ADVISOR FOR WATER AND ENVIRONMENT MOMBASA AND
KWALE COUNTIES
The Government of Kenya has received nancing from the International Development Association (World
Bank) towards implementation of the Kenya Water Security and Climate Resilience Project - Phase 1
(KWSCRP-1) and it intends to apply part of the proceeds to payments for consulting services to be procured
under this Credit.
As part of coordination and supporting the implementation of the project activities, the Government
of Kenya wishes to hire Strategy Advisor for Water and Environment Mombasa and Kwale
Counties for a period of one(1) year.
Invitation for EOI
Interested consultants may obtain further information in the detailed Terms of Reference (ToR) posted on
dgMarket, at the Ministry website www.environment.go.ke and at the address below during ofce hours
between 0900 1630 hours from Monday Friday inclusive, except public holidays in Kenya, before the
deadline for submission of Expression of Interest.
The completed expression of interest documents in writing in three (3) copies must be delivered to the
Tender Box on Ground Floor, Maji House or send to the address below so as to be received on or before 27th
April, 2014 at 10:00am Kenyan Local time. The expression of interest must be in plain sealed envelopes
and clearly marked REF: MEWNR / KWSCRP-1/003/2014-2015 STRATEGY ADVISOR FOR
WATER AND ENVIRONMENT MOMBASA AND KWALE COUNTIES addressed to:
Project Manager,
Kenya Water Security and Climate Resilience Project,
State Department of Water
Ministry of Environment, Water & Natural Resources, Maji House, Ngong Road,
P.O. Box 49720-00100, Nairobi. Tel: +254 02 2716103 Ext. 42313.
E-mail : ewscr-project@water.go.ke

these thresholds and ultimately lead to

the brothers paying the full Sh85 per share
to the minority investors.
The investment rm will buy 9,646
acres at a price of Sh180,000 per care for
a total of Sh1.74 billion. It will also acquire
another 900 acres for Sh342 million. The
two parcels are located in Kili County.
The sale of land to Centum enables
the REAT oer to become free of conditions relating to future sales of Rea land
and REAT has indicated it intends to pay
the full amount of the additional cash
top-up of Sh15 per share, Centum said
in a statement.
The bidding wars and subsequent settlement underlines the fact that Reas major value lies in its land which is worth a lot
more than the Sh2.4 billion at which the

Investor

Stake
(%)

Robinows

57.05

Neil Cuthbert (CEO)

3.76

Kenyalogy.com

1.39

Centum

0.49

Aly-Khan Satchu

0.42

Jubilee Insurance

0.26

Simba Colt Motors

0.18

Others

36.45
SOURCE: COMPANY REPORTS

Robinows initial oer of Sh40 per share

priced the company. An independent valuer, Ryden International, advised Reas
board that the agricultural rm has total
assets worth Sh4.5 billion, matching Centums current oer at Sh70 per share.
The Sh4.5 billion valuation is still seen
as conservative given rapid appreciation of
land in the region, a view that is supported
by the fact that the competitors had not
ruled out another upward revision of their
oers before the settlement.
For Centum, the settlement highlights
the pragmatism and business savvy of its
director and single largest shareholder
Chris Kirubi who had earlier told the Business Daily that Centum would likely reach
an out-of-court settlement with the Robinows after negotiations.

Fames uged to plant as

eatic weathe pesists
BY GERALD ANDAE

Farmers have been advised

to start planting this week in
anticipation of the long rains
even as the Meteorological
Department predicted erratic weather.
Director of Crops in the
Ministry of Agriculture
Johnston Irungu said planting should take place before
next Tuesday, giving hope
to growers uncertain of the
weather outlook.
Farmers can start planting as we expect the rains to
start anytime soon, especially
in agricultural zones, said
Dr Irungu.
Dr Irungu said dry planting raises the chances of crop
success because seeds can
survive in the soil even with
uneven rain distribution.
Speaking to the Business
Daily, deputy director at the
Kenya Metrological Department Peter Ambenje said
they are anticipating erratic
rains in most parts of the
country.
There is a likelihood of

Uncertainty
The Meteorological
Department had indicated that
the rains would start between
the second and third week of
March
erratic rainfall in most parts
of the country from the recent forecast that we conducted, said Mr Ambenje.
He said that rains in the
grain basket of North Rift
were on course despite the
zone having failed to register heavy downpour in recent
days as expected.
The weather forecast for
March-April-May indicates
that most counties in North
Rift, Coast and North East-

ern will receive below normal rainfall.

The uncertainty has farmers wondering whether to
plant or wait for the rains.
I am confused now. I
thought there would be
signs of rain this week so
that I could start planting
but that seems not to be
the case, said George Kili,
a large- scale farmer in Uasin Gishu.
The metrological department in its seasonal forecast
had indicated that the rains
would start between the
second and the third week
of March.
The rains have started in
Nairobi and parts of central
Kenya.
March to May is a major
rainfall season in most parts
of Kenya as well as much of
equatorial eastern Africa
region.
Erratic rainfall last year
subjected farmers to losses,
with the Agriculture ministry reporting that the growers lost up to 20 per cent of
their crop.

Friday March 27, 2015 | BUSINESS DAILY

ECONOMY & POLITICS

NEWS I REVIEWS I ANALYSIS

Physical issuance
of passpots set to
cease next month
EFFICIENCY Immigration Department says

online system application to curb corruption

BY NEVILLE OTUKI

The Immigration Department will from

next month stop accepting physical applications for passports to seal loopholes
that have seen foreigners get the permit
and cut the issuance period.
Director-general Gordon Kihalangwa said yesterday passport
applications would be done online
through the eCitizen portal a government website launched last year to
host multiple departments.
Towards end of next month, we
will only accept online passport applications, Maj-Gen (Rtd) Kihalangwa
replied to our queries saying an exact

date would soon be announced.

This is part of eorts that saw the department close a number of its upcountry oces, prompting many to travel to
Nairobi to obtain a passport.
The Embu, Eldoret, Nakuru and
Garissa oces were closed last year
while the Kisumu and Mombasa were
expected to be shut by June 2015.
The immigration unit said closure
was in line with global standard practice
to centralise the issuance of passports
and the need to safeguard the integrity
of the Kenyan travel document.
Maj-Gen (Rtd) Kihalangwa said the
online application would still take two
weeks. It costs Sh4,550 to apply for a

32-page passport and Sh7,550 for a 64page permit. The fee for an East African
passport stands at Sh990 and Sh7,550
for a diplomatic one.
Widespread threats of terrorism
and corruption have seen a number
of countries tighten their passport
controls, including introducing new
security features.
Security agencies have been on high
alert after several gun and grenade attacks which followed the killing of 67
people in a raid by Al-Shabaab militants
on Westgate mall in September 2013.
The eCitizen portal enables users to
apply and pay for their passports online
as well as keep track of the progress via
text, Twitter and email, eectively eliminating the need for regular trips and
queuing at the Immigration oces.
The portal hosts four government
departments including Land, Immigration, National Transport and Safety Authority (NTSA) and Oce of the
Attorney General.
The NTSAs online platform allows
Kenyans to apply and pay for provisional driving licence, book a driving test
and download interim driving licence
online. It also enables users to renew
their licences, locate their uncollected
logbooks and driving licences.
notuki@ke.nationmedia.com

Anti-gaft oces aid home

of fome poweful Moi PS
BY BD REPORTER

Ethics and Anti-Corruption Commission detectives yesterday raided

the Nairobi home of Kuresoi South
MP Zakayo Cheruiyot.
According to Mr Cheruiyot, the
four detectives arrived at his Lavington residence at 8am accompanied
by two police ocers and produced
a search warrant allowing them to
examine documents related to the
ownership of the house.
They came here at 8am. They
were led by a Mr Rukaria and a Mr
Ndiema and two others whose names
I cannot remember.
They were accompanied by two
police ocers carrying AK-47 ries,
the MP told the Business Daily by
phone.
They produced a search warrant, which I believe was fake, and
demanded to see documents showing how I acquired the house. After
consulting my lawyers, I furnished
them with the documents, which
they perused before leaving, add-

ed the former powerful Internal

Security permanent secretary in
the Kanu era.
Mr Cheruiyot, also a former
powerful head of civil service under the Moi administration, linked
the raid to his stand on the Jubilee
Alliance Party (JAP) recently formed
by politicians allied to President
Kenyatta and Deputy President
William Ruto.
It has all to do with my stand on
JAP, which the powers that be are
not happy with and want to concoct
charges of abuse of oce during my
time as PS.
If it is about Anglo Leasing,
Ive already been charged in court
and the case is coming up for hearing on May 4 or thereabouts, he
stated.
Mr Cheruiyot is among politicians from the Rift Valley who have
been openly critical of the Jubilee
government and the formation of
JAP as President Kenyattas and Mr
Rutos vehicle in the 2017 General
Election.

BUSINESS DAILY | Friday March 27, 2015

COUNTY BUSINESS
ECON0MY
& POLITICS

Tukana tades count losses afte week-long powe blackout

BY SAMMY LUTTA

Traders in Kainuk and Lodwar towns,

Turkana, are counting losses worth millions of shillings following a week-long
power blackout.
Kenya Power head for Lodwar station Gideon Gogo said the problem was

caused by a breakdown of two main

generators. Sensitive places like GK
Prison, Turkana County Assembly,
the governors oce, Turkana Central
sub-county headquarters, water oces
and pumping centres are experiencing
rationing of power, said Mr Gogo. It
might take a week for one of the gen-

erators to be replaced he said. The generator is expected to come from Kenya

Powers head oce in Nairobi.
Supermarkets, hotels, butcheries,
groceries and cyber cafs are some
of the businesses that are counting
huge losses. Lomidat Butchery manager Samuel Oduor said that since the

blackout began 960kg of meat, worth

Sh380,000, has gone bad. Some of the
aected hotels in Lodwar town the
county capital are Seven Up, Africana
Caf, and Shirpa.
In Kainuk, traders said that bandits
shot at a transformer along the volatile
Turkana-West Pokot border. A trader,

Margaret Lemu, said they had gone

without power for over a week.
Travellers going to either Kitale or
Lodwar must stop at Kainuk because
it is an entry point to Turkana County,
said Ms Lemu.
She said that travellers were the
lifeline of the town.

Counties uged
to give land fo
Lapsset poject
PLEA Muthaura says Sh2.2 trillion

venture will depend on land availability

BY KENNEDY KIMANTHI

Twelve counties that fall

within the Lamu Port South
Sudan Ethiopia Transport
(Lapsset) project have been
urged to provide land to support its implementation.
Lapsset Corridor Development Authority chairman Francis Muthaura said
the implementation of the
Sh2.2 trillion project will
mainly depend on availability of land.
Mr Muthaura said that
surveyors had already been
dispatched to map out the
project area.
County governments
are indispensable partners
in making this project economically viable. If we synergise our resources we will
be able to catalyse its completion, he said.
Mr Muthaura was speaking on Wednesday during the
Lapsset Meru County stakeholders consultative visit.

The project is intended to

include a port, new roads, a
railway and a pipeline which
will give landlocked South
Sudan and Ethiopia access
to the Indian Ocean.
The overall price of the
project, rst proposed in
the 1970s and expected to
have been completed by
2030, has been put at $25.5
billion (Sh2.2 trillion).
Among reasons delaying
the project is high compensation demands by landowners.
The project entails construction of a new sea port at
Manda and standard gauge
railway lines from Lamu to
South Sudan with branches
to Nairobi and Ethiopia from
a hub in Isiolo.
It will also see the construction of a highway from
Lamu to Isiolo with an extension to Nadapal/Nakodok in South Sudan and
another link to Addis Ababa
through Moyale.

House team membes

clash ove gaft claims
BY EDWIN MUTAI

Members of the House Agriculture committee diered

sharply at a Press conference
called to announce the withdrawal of corruption claims
facing the team.
Lugari MP Ayub Savula
and Benjamin Washiali, his
Mumias East counterpart,
withdrew the claims that
committee chair Mohammed

Noor had received Sh4m and

that the committee had pocketed Sh60m to alter a report
on the crisis facing the sugar
sector.
However, committee member Millie Odhiambo clashed
with Mr Washiali when she
said that he was not present
at a previous meeting to adopt
the report. Mr Washiali said
he would present his case on
the oor of Parliament.

Friday March 27, 2015 | BUSINESS DAILY

CORPORATE NEWS
NEWS I REVIEWS I ANALYSIS

Mobile soft loans fo powe consumes

ENERGY The Okoa Stima advances will be

deposited into a users M-Pesa account

internal communication sent to Kenya
Power sta. The service is planned for
launch in coming weeks.
Safaricom and Kenya Power have jointThis is Safaricoms latest foray into
ly launched a mobile phone-based soft nancial services as part of the comloan facility for electricity consumers panys diversication strategy which
has helped it minimise
which will see customers
over-reliance on reveget advance credit to settle their energy bills and
nue from voice calls.
The poduct will
At the moment Kenrepay the debt within
ya
Power subscribers
seven days.
empowe Kenya
can only use M-Pesa to
Electricity consumers
will get credit to settle Powe customes to buy electricity tokens or
access emegency pay their bills.
power bills of between
Sh100 and Sh2,000, which
Kenya Power cuspowe loans as
will be repaid at an upfront
tomers will be entiwell as quey and tled to maximum adat rate of 10 per cent of the
view bills on thei vances of Sh1,000 and
borrowed amount.
Defaulters will be
Sh2,000.
mobiles
charged a penalty of 10 per
The Okoa Stima
cent on the advance.
advances will be deThe product will empower Kenya posited into a users M-Pesa account,
Power customers to access emergency for onward transfer to their Kenya
power loans as well as query and view Power accounts, less the facilitation
bills on their mobiles, reads part of an charge. This is the same concept that
BY OKUTTAH MARK AND DOREEN
WAINAINAH

A customer pays bills through M-Pesa

on February 11, 2015. DIANA NGILA
Safaricom uses in its Okoa Jahazi facility where it charges a fee of ve per cent
for any airtime loaded on credit.
Safaricom has also sent some of its
customers an alert informing them of
the new service.

Gained traction
Dear customers, you can now get electricity tokens of up to Sh1,000 and pay
within 7 days, reads the message.
Kenya Power becomes the latest
rm to leverage on this concept which
has gained traction among nancial
institutions such as Commercial Bank

of Africa (CBA) and KCB, which have

also partnered with Safaricom, to
advance mobile phone-based loans
to their clients repayable at a xed
interest rate.
To access the service, Safaricom
subscribers who want to register for
Okoa Stima will be required to dial
*885#, enter the PIN and follow instructions.
The partnership with Kenya Power
is dierent from that signed with banks
in that it has a uniform maximum cap
for all customers.
For bank loans a customers credit
limit is calculated based on their MPesa transaction history and their
savings, in the event that they are account holders.
Mobile banking has become a competitive edge for Kenyan lenders, giving them easier and broader access to
customers.
CBA said M-Shwari, which recently
signed up its 10th million customer,
processes approximately 50,000 loans
every day an uptake that has grown
its savings and loans accounts to Sh153
billion and Sh29 billion respectively.

KenolKobil cuts
debt exposue
by Sh4 billion
BY VICTOR JUMA

Oil marketer KenolKobil cut its short

term debts by more than Sh4 billion
last year, helping to reduce its nance
costs by a quarter.
The oil rms short term borrowings dropped to Sh10.4 billion in the
year ended December from Sh14.8
billion the year before. Its long term
debts also fell to Sh88.3 million from
Sh522.5 million in the same period,
helping to cut its overall nance costs
to Sh1.3 billion.
The deep cut on nance costs saw
the companys net prot nearly double
to Sh1 billion, even as sales declined
to Sh91.3 billion from Sh109.6 billion
reported in 2013.
Chief executive David Ohana said
reduction of the debt burden is a major focus area for Kenol, which is recovering from a Sh6.2 billion net loss
in 2012 that was caused by currency
hedging contracts that turned against
the company.

BUSINESS DAILY | Friday March 27, 2015

CORPORATE
NEWS
COUNTY BUSINESS

StanChat cosses Sh10bn afte-tax pot

mak on cost cutting and popety sale
BY GEORGE NGIGI

StanChart Kenya hit the Sh10

billion after-tax prot mark for
the rst time riding on property
sales to hold on to its ranking as
the third most protable lender
in the country.
The bank reported a net profit of Sh10.4 billion for the year
ended December compared to
Sh9.2 billion in 2013.
The lender relied on cost-cutting to compensate for a weaker
performance in its core business,
which saw its loan book and deposit base shrink.
Loans declined by Sh7 billion
to Sh122 billion while customer
savings declined by Sh700 million to Sh154 billion.
2014 was a challenging year
due to increased non-performing loans. 2014 was also the year
we reorganised our business repositioning it for the future, said
chief executive Lamin Manjang
(pictured).
Its loans default book
jumped to Sh10.7 billion from
Sh3.8 billion, which it attributed
to a small number of problem
accounts. The banks holding of
loan securities shot up to Sh4.4

Performance
StanChart Kenya recorded
an increase in operating prot
which grew by a margin equal to
Sh25.9bn from Sh23.9bn.

billion indicating that it is turning to collateral to protect itself

from the bad loans. This saw its
loan provisions grow marginally
despite the jump in bad loans
as provisions are net of security
held by the bank.
The bank, however, booked
Sh2.2 billion in other income,
which was attributable to a
one-o gain from sale of a
property.
Its operating prot grew by
a margin equal to Sh25.9 billion
from Sh23.7 billion.

Corporate and institutional

business was the key driver of
the company performance recording a 17 per cent growth in
operating prots from this segment to Sh9.9 billion. Operating
prot from medium sized business dropped to Sh700 million
from Sh1.1 billion while that
from retail clients was at.
The bank kept a strong hold
on operating expenses, with its
cost to income ratio at an estimated 40 per cent.
Cost eciency will continue
to be a key strength for the bank
as it employs prudent cost management strategies helping it to
maintain one of the lowest cost
to income ratios in the industry
said analysts at Dyer and Blair
Investments.
Sta costs rose by 14 per cent
to Sh5.6 billion which management attributed to salary increases for sta being sought
by competition.
Co-operative Bank, which
was closing in on its third position, slid back following a 12 per
cent prot drop in 2014.
StanChart, however, remains
behind local lenders Equity and
KCB Group.

EXPRESSIONS OF INTEREST
FSD AFRICA FINANCIAL FRONTIERS CHALLENGE FUND
FSD Africa (FSDA), a financial sector deepening trust, aims to support financial sector development across the
African continent by encouraging skills development, transfer of knowledge (e.g. research, business models, policy
approaches etc.) across borders, and by building the capacity of financial systems. FSDAs largest single budgetary
allocation in its strategic plan is for change management projects to strengthen organisational capacity in banks
and other FSPs.
FSDA wishes to identify and contract a consultancy or advisory firm to design and manage an FSDA-funded
challenge fund (Challenge Fund) that will attract competitive proposals from financial service providers (FSPs) in
sub- Saharan Africa (SSA) aimed at increasing access to financial services in SSA.
The Challenge Fund will seek to:

Provide FSPs with resources to allow them to carry out a diagnostic of their core capabilities and capacity
building needs

Incentivise FSPs in SSA to develop compelling proposals and implement strategies that will have an impact
on financial inclusion

Encourage FSPs to partner with competent consultants and advisory firms across SSA on both proposal
writing and subsequent project implementations

Stimulate markets in at least three service industries that are important for FSPs : data analytics, e-learning
and executive coaching

Build a pipeline of projects for FSDA that are in alignment with its strategic objectives

Build FSDAs brand and project its role as a catalyst for financial sector development in SSA
EOIs should contain:

Names, CVs and location of key individuals

An outline of team structure

A short statement of why you believe your firm has the right experience and blend of expertise for this
assignment

A short description of anticipated risks and how you would expect to deal with these

Confirmation of your firms availability to carry out this work, giving details of any prior calls on your firms
time

Any other information that you believe should be taken into account in the shortlisting process
Please note a fully costed proposal and/or detailed work plan is not required at this stage.
Your EOI should not exceed 3 sides of A4 (font size 11), excluding CVs, company brochures etc. EOIs should be
sent to info@fsdafrica.org under a subject line reading Expression of interest: Financial Frontiers Challenge
Fund. Detailed EOI can be obtained from FSD Africas website www.fsdafrica.org (opportunities section)
Expressions of interest must be received by FSD Africa no later than
1200 (EAT), Tuesday 19th May, 2015

Douglas Duncanson, East African Breweries Limiteds luxury brand ambassador. COURTESY

EABL eyes ich buyes

with Yaya spiits outlet
GROWTH Brewer partners with its top distributor to

set up high-end luxury alcohol outlet at Nairobi mall

BY MUGAMBI MUTEGI

Beer maker East African

Breweries Limited (EABL)
has opened its rst retail
shop for high-end spirits at the
Yaya Centre shopping mall, in
which premium brands such
as the Johnnie Walker Odyssey will be selling for up to
Sh160,000.
The regional brewer has
partnered with one of its top
distributors to set up the multi-million shilling retail outlet
dubbed Berries and Barrels in
a bid to increase the uptake
of its highly lucrative spirits
brands.
The East African Breweries Limited about three weeks
ago announced that sales of
its spirits brands grew 67 per
cent in the six months to December.
The new shop is in response to the changing consumer with more people
willing to try out luxury and
high quality brands in line
with rising spending power,
said Charles Weru, EABL
reserve brands commercial
manager.
The experience oered at
Berries and Barrels will help
consumers sample and understand our reserve products
and, hopefully, upscale them
from normal brands to more
sophisticated ones.
Berries and Barrels is a
partnership between EABL
and Bia Tosha Limited one
of its top beer distributors in
the country whose relationship with the brewer spans 18

years. The two rms declined

two years. Customers who
to disclose their respective
step into the shop will have intimate sessions with our sta
capital expenditures in the
who will educate them about
new venture.
The shop will stock brands
our dierent brands, their
with retail price tags of about
tastes, and also the preferred
occasions to serve them, said
Sh4,000 and above.
It will also sell EABLs highMs Burugu.
end brands like Johnnie WalkNormally people walk into
er Blue Label, Ciroc vodka, Talstores, pick a bottle, pay for it
isker Malt Whisky, Tanqueray
and simply walk out. Berries
Ten gin, and Don Julio tequila,
and Barrels promises a totally
among several others.
dierent retail experience for
Bia Tosha managing direcour customers.
tor Anne-Marie Burugu said
EABL is banking on its
they would also stock luxury
high-end spirits brands to
wines, cognacs
grow its earnings,
and champagnes
with this particu brands which
lar portfolio exhibiting an impressive
EABL does not
Beies and
performance in the
currently deal
Baels pomises half year results
in.
For instance, a totally dieent when the brewers
the vintage Dom etail expeience
net prot grew 11
Perignon champer cent to Sh4.62
fo ou
pagne will cost
billion.
customes
Low-end spirits
Sh44,800 a botcategory which
tle while their
ANNE-MARIE-BURUGU,
includes brands
most expensive
MANAGING DIRECTOR, BIA
TOSHA LIMITED
like Jebel Gold and
cognac CourLiberty recorded
voisier Initale
Extra will retail at Sh67,200
a 28 per cent increase in sales
a bottle.
in the half-year to December,
underlining the high potential
Some of the selling points
of the shop, she said, would be
of the luxury spirits.
scheduled sample sessions for
Sales of premium spirits
individuals and groups with
like Johnnie Walker Red Laknowledgeable sta members
bel and Smirno Vodka grew
at hand to give clients personby 32 per cent.
alised service as well as a home
Over the past six months
and oce delivery.
alone, EABL has introduced
In future, all reserve brands
two reserve spirits brands into
distributed by EABL will be
the country Talisker Storm
and Bulleit Bourbon a pointlaunched at the Yaya Centre
er to how keenly it is investing
shop in Nairobi or one of the
three more outlets the brewer
in this segment.
says it plans to open in the next
pmutegi@ke.nationmedia.com

Friday March 27, 2015 | BUSINESS DAILY

IDEAS & DEBATE

OPINIONS I REVIEWS I ANALYSIS

Other Voices
Prince Charles
Prince of Wales

Martin Kettle (Guardian)

Nigerian President Jonathan Goodlucks wife Patience (left) campaigns for her husband in Ondo State this week. If the election results do not appear credible, violence could
erupt. AFP

Goodluck mustnt steal the election

JEAN HERSKOVITS

igerias government cancelled

the February presidential election just days before it was to
be held, postponing it until March
28. If this weekends vote is delayed,
disrupted or cancelled, it will imperil
the democratic future of Africas most
populous country.
This election is unlike any other in
Nigerian history. President Goodluck
Jonathans Peoples Democratic Party
is facing the rst credible challenge to a
ruling party, and he is intent on staying
in power, even though popular discontent with the PDP is rife.
If the election had been held as scheduled on February 14, it is likely that Gen
Muhammadu Buhari of the opposition
All Progressives Congress would have
won. The six-week delay broke the APCs
momentum and gave the PDP time to
reverse the tide. Incumbency guarantees
access to the treasury and command of
the security forces the rst is in play
now, and the second could be during the
election and its aftermath.
Nigerian politics can be murderous; Buhari has already survived one
attempted assassination, an October
bombing in Kaduna. And if there is
another postponement, a contrived
disruption on election day that leads to
an unconstitutional interim arrangement, or if the election results do not
appear credible, Nigeria could erupt
in violence.
Although Nigerians have often been
divided along ethnic, religious and regional lines, there has been a remarkable
change. Until quite recently, southern
Nigerians overwhelmingly supported
Jonathan, a southern Christian. That

The fact that Prince Charles likes to write

to government ministers expressing his
strong views is no secret. It is a central
part of the engaged, in some ways constitutionally destabilising, reality of the ageing and anguished heir to the throne, and
was well brought out most in Catherine
Mayers recent biography. The decision
by the supreme court to uphold publication is therefore a big win for Evans, the
Guardian and freedom of information. By
the same token it is also a big defeat for
Charles, the recipients of his letters and
the British state.

Ted Cruz
US Politician

DEMOCRACY Incumbency guarantees access to the treasury and

command of the security forces, which makes rigging a lot easier

northern towns from the terrorist
view prevailed in 2011, when Buhari
group, Boko Haram. In fact, no Nigealso ran for president. The inuential
Lagos press portrayed him as a dictatorian troops were present in some of the
rial, fanatical Muslim seeking to impose
liberated towns. Worse, the government
Shariah on the whole country despite the
is hiring South African mercenaries for
fact that Christians were a majority in
$400 (Sh37,000) a day in a country where
soldiers are paid much less, often late,
his cabinet when he ruled the country
or not at all.
in the mid-1980s.
The February election was supposBut daily life has worsened and corruption has escalated. Last year, Jonathedly postponed so that the military
an removed from oce the respected
could focus on the oensive it has now
launched against Boko Haram. But the
governor of the Central Bank, Lamido
governments priority doesnt appear
Sanusi, after Sanusi announced that in
to be protecting Nigerias people and
one 15-month period at least $20 billion (Sh1.8 trillion) in government funds
territory; its goal is to stay in power.
went unaccounted for.
The postponement
(The government recently
has simply allowed
Many Nigeians
claimed that an audit had
the ruling party more
found that only $1.47 biltime to spend money
now see Buhai as
lion (Sh135 billion) was
the opposition cannot
the man who can
missing).
match.
delive them fom
Meanwhile, the same
Many Nigerians
couption and
central government has
now see Buhari as the
insecuity. He was
failed to send money it
man who can deliver
owes to the states, and
them from corruption
Nigeias militay
teachers and other civil
and insecurity. He was
ule fom 1984-85
Nigerias military ruler
servants have gone unfrom 1984-85. He was
paid. Currency devaluapetroleum minister before that. And in
tion and ination mean that unpaid
the late 1990s, as a civilian, he chaired
and laid-o workers in the public and
private sectors are now in the same boat
the Petroleum Trust Fund. He could have
as the countrys impoverished and jobenriched himself, but he did not. In the
less millions. They are unlikely to vote
1980s, he repelled a Chadian invasion
for the status quo.
and acted decisively against an earlier
There have been military humiliaextremist Muslim group. As Adeyemi
Adefulu, a Yoruba civil servant who was
tions, too. Nigerians are embarrassed
that their army needed reinforcements
unjustly imprisoned under Buharis refrom smaller, poorer neighbours like
gime during sweeping arrests of the
Chad, Niger and Cameroon to reclaim
allegedly corrupt in the 1980s, wrote

recently, Our jailer has become our

hope. He is now actively campaigning
for Buhari.
With so much at stake, the United
States must play a constructive role. Secretary of State John Kerry has stressed
that the election must take place on Saturday and that it be free, transparent
and credible. And Vice President Joseph
Biden last week expressed support for
the electoral commission and urged electronic authentication of voters.
More is needed. America must publicly insist on retaining the head of the
electoral commission, preventing any
election-day violence or intimidation by
security forces, and announcing results
at each polling place. And voters should
not be prevented from using mobile
phones to photograph local results as a
precaution against later rigging.
This election must not be stolen from
the people. Kerry has suggested that visa
restrictions could be placed on anyone
who interferes with the electoral process. This policy, along with a threat of
targeted nancial sanctions, should be
announced now and it should include
members of Nigerias security forces.
The global fall in oil prices, Nigerias squandered foreign reserves and
the draining of an account intended to
cushion price shocks mean that Nigerians face hard times ahead. They deserve
to choose who will lead them through
those times.
Herskovits is a research professor
at the State University of New York,
Purchase

Keith Kofer (Reuters)

As Senator Ted Cruz announced recently
that he is running for US president, his
Virginia students audience cheered. Cruz
riffed on an imagine theme. But one
line prompted the students to erupt into
a standing ovation: Instead of a president
who boycotts Prime Minister (Benjamin)
Netanyahu, imagine a president who
stands unapologetically with the nation
of Israel. It brought down the house. There
can be little doubt.
Barack Obama
US President

Lawrence Korb (Reuters)

President Barack Obamas national security policies are being sharply criticised
by Republicans and even undermined by
members of the GOP foreign-policy establishment. Yet Obamas strategic patience
on national security continues a pattern
set by the most successful Republican foreign-policy presidents: Dwight D. Eisenhower, Richard M. Nixon, Gerald R. Ford,
Ronald Reagan and President George
H.W. Bush

10

BUSINESS DAILY | Friday March 27, 2015

EDITORIAL & OPINION

Published by the Nation Media Group, Kimathi Street, Nairobi

Linus Gitahi: Chief Executive Ofcer | Tom Mshindi: Acting Editorial Director
Ochieng Rapuro: Managing Editor
P.O.Box 49010 GPO Nairobi Telephone: 254 20 328 8104 Fax: 254 20 214849
Email : bdfeedback@nation.co.ke www.bdafrica.com

Align State motgage

loans to maket eality

t is the right of every Kenyan to

have a decent and aordable
shelter, which makes the ongoing eorts by the government to
oer cheap loans for State ocers
and civil servants laudable.
Just like food and clothing,
shelter is classied as a basic human need. It is with this realisation
that the 2010 Kenyan Constitution
made it a government duty to provide housing for the poor and vulnerable in society.
The Salaries and Remuneration Commission, which advises
the government on pay perks
for public servants, has come
up with proposals for aordable
house loans at both the local and
national government levels.
As proposed, the mortgage
perks would match most house
loan schemes provided by private
companies. This is laudable and
indeed belated thinking by the
government. For all the years the
public servants have not had access to mortgage loans, taxpayers
have indirectly borne the burden
of huge salary demands by highly
skilled private sector workers who
cross over to government but demand compensation equivalent to
what they would get in blue chip
companies.
By oering housing and medical
insurance schemes, the civil service
will manage to ease the mounting

pressure on public wages, without

spending as much as they would if
the perks did not exist.
But that is nearly as good as
the story gets. Details of the proposed tax-payers-funded mortgage
schemes for public servants have
sounded like an insult to ordinary
Kenyans, a majority of whom can
only dream to own a house in their
lifetime. The major bone of contention is that the mortgage schemes
appear designed without regard to
the living standards of ordinary
Kenyans, and may only help in
widening the poverty gap.
It should not be lost on policymakers that only 20,000 Kenyans
currently have mortgage loans,
in a country of 40 million, more
than half a century after independence.
The proposal to advance loans
of up to Sh40 million each for the
top echelons of the civil service for
example makes a mockery of statistics readily available to policymakers. According to Central Bank of
Kenya, the average mortgage size
for those with house loans is Sh6
million. At three per cent interest
cost per annum, the civil servants
will again be repaying the loans at
only about one-sixth of the average
commercial mortgage rates.
To be acceptable, the mortgage
size and interest cost should be
aligned to market reality.

Bills passage laudable

he passage of the Elimination of Non-Tari Barriers

Bill, 2015 by the East African
Legislative Assembly (Eala) is laudable. Eorts to deepen integration
within East Africa have over the
years often been frustrated by ludicrous administrative actions by
some partner states, hampering
free trade and movement of skilled
labour.
With the intense competition
in established markets abroad, regional economic clusters oer an
opportunity to African countries to
trade among themselves and attain
the desired development goals.
The East African Community
common market promises to help
achieve this target but only if extra
eorts are made to clear undue suspicion among member states and

operate as one unit as dened by the

spirit of integration. The Bill aims at
providing a legal mechanism for the
elimination of identied non-tari
barriers (NTBs) in partner states and
bar EAC members from imposing
any new encumbrances to trade.
The substance of this Bill is noble
and we urge the EAC Heads of State
to give assent and make it a functional law quickest possible.
The region has lately witnessed
a surge in disputes as partner states
diered over administrative measures deemed injurious to free trade.
We cannot allow this kind of scenario
to carry on when numerous opportunities go to waste. EAC countries
must stand and work together in a
harmonious environment or risk
sinking together due to unnecessary feuds and rivalry.

To comment...
The editor invites comments on our content and topical issues. Please
include your full names, telephone number and address in your letter.
Email: bdfeedback@nation.co.ke

No, we dont have a Bob Marley working here... Thats what they call the printer
because it keeps jamming...

We must have national debate on acism

JAINDI KISERO
LABOUR

e really need to open a national conversation about racism

at the workplace.
Just the other day, immigration authorities had to intervene to investigate
allegations of racism at one of the largest
corporate organisations in Kenya- the
East African Breweries Limited.
I will not go into the merits or not
of the accusations against the said top
executives who were accused of perpetrating racial discrimination.
Still, having your top ocer accused
of practising workplace racism is something a corporate of the standing of EABL
must nd very uncomfortable.
In todays world, all corporates strive
to be projected as organisations which
uphold workplace meritocracy.
Indeed, a meritocratic workplace is
the dream of every company. And, the
last thing a corporate wants is to nd
itself in the public spotlight over allegations of workplace racism.
The context in which the accusations
made against the top EABL employee
was also frightening. Coming against the
backdrop of another public furore over
reports that a Chinese restaurant had

been found to be denying black people

access into their premises on the basis
of their colour-it appeared as if the country was about to be hit by a new wave of
xenophobia.
Then there was the hash tag put out
by the lobby, Consumer Federation of
Kenya, where it was eliciting more and
claims and allegations of workplace racism. Most of the claims and accusations
seemed to target subsidiaries of European multinationals.
I dont know how far the investigations on the specic allegations facing
the top EABL employees will go. It is all
very well to point an accusing nger at a
manager for practising workplace racism
and another to provide proof.
It is very dicult to prove that a person has been denied a job or promotion
on the grounds of race.
You have to demonstrate that the
process of hiring, testing and conducting of interviews were deliberately
skewed to the advantage of one race
over others.
Still, the fact that proving workplace
racism is dicult to prove does not mean
that corporates whose top ocials have
been accused of practising workplace
racism, should just ignore the claims as
rantings of disgruntled employees.
Where an employer, for reasons entirely unconnected with race, happens
to have a practice that has a disproportionate impact on dierent races, you
will not be able to sit pretty.
Indirect discrimination in hiring and
promotion practices can easily be proved

by statistics. You will be judged not by

what you profess, but on the outcome
of what you practice.
The big problem we have in this country is that the institution supposed to
deal with issues touching on expatriates,
work permits and immigration has no
capacity to keep even a rudimentary inventory of the professional skills available in this country.
The Department of Immigration is a
bureaucracy that is permanently in the
news for the wrong reasons.
In the past, the government maintained very sti work permit regulations.
Today, every inuential Kenya Asian is
able to import the so - called rocketslow skilled workers brought into the
country to do menial jobs.
In the days when the government
practised the Africanisation policy,
we used to have a Kenyanisation of
Personnel Bureau whose responsibility was to monitor workplace diversity
and to ensure that every expatriate had
an understudy.
Chinese construction companies
are importing unskilled labour into the
country in large numbers. I know of a
company where the head of procurement is a 24-year old Brazillian with
skills that are abundantly available in
the country.
I am not proposing that we go to the
days of Africanisation and Kenyanisation
policies. But we must come up with better systems to deter the ooding of the
country with expatriates.
jkisero@ke.nationmedia.com

VIEWS FROM ABROAD

Violent intimidation of writers

Opinions fom aound the wold

An unsettling complicity
Sustaining Singapore gains

The savage attack on Zainub Dala shows the

terror of the freedom to use words, and the
desire to obliterate them. .On Wednesday
March 18 author, Zainub Priya Dala was violently
attacked as she left her
MAIL & GUARDIAN
JOHANNESBURG
hotel during the Time
of the Writer Festival in Durban. Driving alone,
she was harassed by three men who forced her
off the road, held a knife at her throat, smashed
a brick in her face, and called her Rushdies
bitch The day before she had been asked about
writers she admired: Salman Rushdies name
had gured on a long list of others

There are parasites of all kinds in poor

countries.One variety is intestinal, the worms
that afict countless children. In a hospital
here in Angola, nurses pointed to a little girl
named Marcelina,
NEW YORK TIMES
NEW YORK
who they said was
at risk of dying from anemia caused by worms
and malnutrition. She had so many worms she
was spitting them up.The other kind of parasite
aficting Angolan children is the crooked ofcial,
often working with Western executives. Its not
a coincidence that Angola is a centre for both
kinds of parasites.

The only way Singapore can maintain the gains

made under its legendary founder Lee Kuan
Yew is to innovate. As the government well
knows, the citys future lies in inventing new
ideas, industries and
THE JAPAN TIMES
processes, as well
TOKYO
as niche, high-value-added services. That will
require more strenuous efforts to revamp an
education system still based too much on rote
learning. Startups could use new tax incentives
. The irony is that the model Lee pioneered is
no longer sufcient for Singapore itself. The
government must think bigger and bolder.

Friday March 27, 2015 | BUSINESS DAILY

11

EDITORIAL & OPINION

Dim the lights but enew focus on powe fo all

BOB COLLYMORE
ENERGY

oday, the world marks Earth

Hour, a global annual event
where hundreds of millions of
people switch o their lights for one
hour between 8.30 pm and 9.30 pm
to show they care about our planet.
This is also symbolic in that it
aims to raise awareness on the importance of energy conservation.
Last year, over 162 countries and
7,000 cities turned o their lights for
an hour, creating magical lights o
moments on every continent of the
world. Here in Kenya, those of us
with power will hopefully join the
movement. But for 70 per cent of our
population, Earth Hour will mean
very little as they do not have any

access to any power at all. For us,

it is unsustainable to imagine that
Earth Hour can remain a one day,
one hour aair. It must serve as a
daily reminder of the importance
of identifying renewable energy
solutions and leveraging technology to do so.
Access to reliable energy is not
only crucial to the health and wellbeing of all human beings, it is also
critical in the development of eective education, environment and
economic systems. It is the vital
component needed in the drive to
transform the lives of Kenyans and
the most important catalyst for the
continued growth of our economy.
Unfortunately, the majority of Kenyans are still forced to rely on solid

Letters

and fossil fuels for their day to day

lighting and cooking needs. These
fuels have been associated with
health complications and kill an
estimated four million people globally each year, most of them women
and children due to poor ventilation
while using the fuels and insucient
combustion of solid fuels.
It is even more ironic that nearly
three quarters of the population
still does not have access to power
when you consider the fact that we
are blessed with an average of 2,525
hours of sunlight per year with an
average of 6.9 hours of sunlight per
day. Solar power is the most natural
and ubiquitous form of energy that
we can start tapping today to provide
a sustainable renewable energy solu-

tion for both household and industry

needs. Last year, we began what the
United Nations General Assembly
calls the decade of Sustainable Energy for All. UN Secretary-General Ban
Ki Moon launched the 10 year long
initiative to mobilise urgent global
action with the objective of ensuring
universal access to modern energy
services, double the rate of improvement in energy eciency and double
the share of renewable energy in the
global energy mix.
As the United Nations has rightly
put it, energy is the golden thread
that connects economic growth,
increased social equity and an environment that allows the world
to thrive.
The writer is the CEO, Safaricom

The editor welcomes brief letters on topical issues. Opinions expressed here are not necessarily those of
the editor or publisher. They may be edited for clarity, space or legal considerations.
Send via e-mail to bdfeedback@ke.nationmedia.com

Ministry must ensure schools adopt fees directive

ince the new school fees

guidelines for public schools
were published in the Kenya
Gazette, debate has been raging on
whether they were necessary.
Those supporting the move believe that it would go a long way
in making education accessible
to more Kenyans while dissenting
voices argue that it will jeopardise
the provision of quality education.
Others have even called for the
clustering of schools, according
to their nancial needs.
However, I nd most arguments against the directive quite
absurd and saddening. What I
actually dont understand is how
some Kenyans nd it justiable
for a government-owned school
to charge as high as Sh120,000
(which is equivalent to annual
fees for most parallel degree programmes in the universities.)
Does this price tag match the
value of any Kenya Certicate of
Secondary Education certicate?
Is this money adequately accounted for? Are the school accounts audited and the reports made public
so that parents understand why
they have to pay so much when
the government pays for most es-

Students celebrate their schools performance in a national exam. FILE

sentials such as textbooks, exercise
books, examination fees, support
sta salaries, teachers salaries and
other stationery? What are these
other school programmes and how
much do they cost per year?
The reasons for supporting
high fees are imsy and myopic to
a large extent.

Arguments such as some

schools have swimming pools
while others have vast compounds
that need higher maintenance cost
are baseless and founded on mere
speculation.
Others are pegging their reason
on the decit of teaching sta in
which the schools board of man-

agement has hired teachers to ll

the gap. As this may be true, information such as the number of
teachers employed, how much they
are paid and the total remunerations cost should be made available
to the parents.
But we all know that national
schools are well endowed with adequate infrastructure and human
resources.
As this debate continues, we
would like to see educationists
and social economists coming
forward with facts and gures to
justify the extent to which reduction in school fees has aected the
provision and quality of education
in our schools.
But until then, parents will continue to breath a sigh of relief from
exploitation by schools cartels.
It is important to note that government schools are non prot institutions hence their formula of
arriving at a six digit annual fee
defeats the very purpose of their
existence in our societies, and to
the same extent violates Kenyans
rights to access the services they
oer.

VICTOR AUMA
Kili

We should retain doctors who have reached retirement age

he ocial retirement age

in Kenya is contributing to
the shortage of health sta,
especially doctors , who are being
retired despite still being capable
of providing services.
Retirement age in the public
sector has been a source of controversy over the years and may
also contribute to the crisis that

looms in the Judiciary following

a circular from the Judicial Service Commission that may lead to
the departure of more than 40
judges.
Although ocially the retirement age in Kenya is 55 years,
professionals like doctors have
allowed to continue on 3 year
renewable contracts until the

age of 60 years. Due to shortage

of qualied doctors in the Civil
Service, they should be allowed
to continue serving on one-year
renewable contracts until the age
of 70 like judges.
However, due to the crisis that
is likely to hit the Judicial Service
Commission it would be in national interest that since the judges are

demanding that they serve until

the age of 74 they be given due consideration and the same be applied
to medical professionals.
They have experience of many
years and are willing to continue
serving their fellow Kenyans despite the low salaries the government pays them.
NORMAN ANJICHI, via email

Manufactues
want to expand
makets globally
BETTY MAINA
TRADE

anufacturers are calling for the

deepening of economic diplomacy to open up new markets
in the various missions that the country is
represented in. We applaud the work done
so far by the ministry in concluding key agreements which include the EAC/EU Economic
Partnership Agreement, the Special Status
Agreement with Ethiopia, the Bilateral
Trade Agreement with Nigeria and the Tripartite Negotiations with COMESA, EAC and
SADC. Local manufacturers produce goods
that meet international standards and there
is need to promote the products so that we
may increase our exports.
Traditional markets in the EAC have
served the country well so far but it is important to diversify and increase markets.
Our neighbors are industrializing and replacing Kenyan products in the EAC market. Between 2009 and 2013 Kenyan exports to the
EAC grew by 15 per cent, while the exports
to the rest of Africa and the world grew by
40 percent. This is indicative that there is
need to keep diversifying our markets as
the EAC market may be getting tighter for
Kenyan goods as the region is industrialising
too. Kenyas exports to EAC went down by a
staggering 7.4 per cent from Sh134 billion in
2012 to Sh124 billion in 2013. Such tell-tale
signs from the region increase the urgency
for the search for new markets.

Policy
There are also active restrictions against
Kenyan companies in the other partner
states and (or) Kenyas own policy decisions that make our goods less competitive in EAC. Such include concessions/exceptions handed over to member States,
asymmetry, exemption lists, stays of application, Import Declaration Fees (IDF),
Railway Development Levy (RDL), and
delay of VAT refunds.
There is an opportunity to expand the external market by concluding more regional,
bilateral and other trade agreements and
special arrangements that will deliver markets. Kenyan envoys are requested to assist
with more facilitation and information on
the opportunities available in the countries
where they serve so that manufacturers may
make an informed decision on the priority
countries to trade with.
Kenya also has a wealth of talent and skills
and there is potential to provide services in
ICT, transport, tourism, professional services
like teachers, nurses, and doctors beyond the
national boundaries. Trade and investment
expansion should be a central part of each
envoys performance contract. We urge them
to continue marketing Kenya as a destination for investments and a source of supply
of various products and to target an increase
of at least 10 per cent of Kenyas exports in the
countries they are based.
The writer is CEO, Kenya Association of
Manufacturers

12

BUSINESS DAILY | Friday March 27, 2015

NEWS INDEPTH

Univesities take ove commecial

BY ANNIE NJANJA

niversities previously located outside Nairobi have extended their presence to the
capital city and are taking over high rise
buildings, in their quest to diversify and reach out
to many people.
More than 10 universities have established
branches at the heart of the city, taken up spaces
once reserved for commercial outlets and turned
them into classrooms. The scramble for the city,
which began after the introduction of self-sponsored programmes (SSPs), has led to expenses of
billions of shillings by universities in purchasing
buildings within the central business district
(CBD).
According to Hezron Mogambi, Commission
for University Education (CUE) inspector and University of Nairobi Communications and Media lecturer, universities are establishing city campuses
because Nairobi is centrally placed and it makes
sense to bring education closer to the people.
Nairobi has the highest number of educated
people and they are going back to school to get a
masters or an undergraduate degree in the hope
of securing a better job or a promotion. The universities are just bringing education closer to the
people because evidently there is demand.

St Pauls University

Will soon take three

oors of Nation Centre
on Kimathi Street.

John Mugo, the country director Uwezo, an

organisation that measures the level of childrens
literacy and numeracy in East Africa, said that
self-sponsored students had brought exponential
growth in higher learning and universities were
establishing campuses to accommodate the growing number of students.
The Economic Survey 2014 shows enrolment
in universities (both public and private) rose to
324,560 students up from 240,551 students the
previous year. Prior to the introduction of selfsponsored programmes only six per cent of Form
four candidates were admitted to the university.
The high purchasing power of the city residents
has also driven the demand for higher learning
options. Nairobi being a convergence point, is a
convenient location for the universities to capture
the attention of Kenyans residing in the city and
its environs.
St Pauls university is one of the latest institution to rent space in the city. In months to come,
the university will occupy three oors of Nation
Centre turning the quiet building into a busy
hub. The institution whose manin campus is in
Limuru is also housed at Church House on Tom
Mboya Street.
Jomo Kenyatta University of Technology is currently in the process of acquiring the 18-storey

ICEA building in a deal that will cost the institution Sh2 billion. Last year, Mount Kenya University (MKU) purchased the 14-storey Union Towers,
located at the junction of Moi Avenue and Mama
Ngina street from former President Mwai Kibaki
for Sh800 million. It is now hosts the universitys
Virtual Learning Centre.
Eldoret-based Moi University opened its city
campus at the Bazaar Plaza in 2005, and later
bought the 20-storey building which previously
hosted the Teachers Service Commission for Sh1.5
billion. Kenya Methodist University has two buildings, KeMU Hub and Towers.
The 15- storey KeMU Towers is the former
Posta Sacco Plaza, which the university bought
for Sh1.3 billion six years ago. Years ago Kenyatta
University bought the Comcraft House on Nairobis Haile Selassie Avenue. The building has since
been renamed KU Plaza. The former Trust Towers
on Moi Avenue was renamed MKU Towers after
the university purchased it.
The expansion of universities is, however seen
as a threat to the quality of education according to
Mugo. Before the introduction of SSPs universities
stuck to their specialisation but this has changed
since commercialisation of education, he said.
ANjanja@ke.nationmedia.com

324,560
The Economic Survey
2014 shows enrolment
in universities (both
public and private) rose to
324,560 students up from
240, 551 students the
previous year.

PHOTOS BY SALATON NJAU

GRAPHIC BY CHRISPUS BARGORETT

The university is also

housed at Church
House on Tom Mboya
Street.

Nation Centre

Church House

ICEA Building

Jomo Kenyatta
University

Is in the process
of taking over
ICEA building.
It currently
occupies
three oors of
Ansh Plaza on
Biashara Street
and the 13th
oor of Pension
Towers.

Egerton University

Agroh House

Stanbank House on Moi Avenue

KCA University

Town campus is on
Monrovia Street.

Stanbank building

Africa
Nazarene
University

is at
Agroh House
and Stanbank,
both on Moi
Avenue

Technical University
of Kenya

on Haile Selassie
Avenue.

Friday March 27, 2015 | BUSINESS DAILY

13

NEWS INDEPTH

buildings at the heat of Naiobi

Southern Eastern Kenya
University

University of Nairobi

In Development House along Moi

Avenue

(main campus)

Presbyterian University

Housed at Biashara Plaza along

Moi Avenue

Development House

Biashara Plaza

Kenya Methodist University

Has two buildings, KeMU Hub and KEMU

Towers.
KeMU Hub

KEMU Towers

Dedan Kimathi University of

Technology

Occupies the 10th oor of Union

Towers building.
Union Towers building

Mount Kenya University (MKU)

In Union Towers located at the junction of Moi

Avenue and Mama Ngina Street.
And at MKU Towers former Trust Towers on
Moi Avenue.
MKU Towers

Moi University

Bazaar Plaza on Moi

Avenue.
Bazaar Plaza

Masinde Muliro University

Saving Plaza on Moi Avenue.

Saving Plaza

KU Plaza formerly
Comcraft House

Kenyatta University

bought Comcraft
House along Haile
Selassie Avenue.

14

BUSINESS DAILY | Friday March 27, 2015

REGIONAL NEWS
GOVERNANCE Rwanda and Ethiopia are some of the nations whose leaders are taking the visionarys route

ADDIS ABABA

Singapoes Lee
Kuan Yew inspies
followes in Afica
Few world leaders transform their own
Kuan Yew, on a visit to the Asian state
nations, let alone create a model that
in 2008, calling it an inspiration for
dozens of other countries seek to emuus in Rwanda.
late. Singapores Lee Kuan Yew, who
Rwandan ocials say they studied
the Asian state for ideas, examining its
died this week aged 91, did both.
city planning and the way it built up
The economic miracle he masternew skills and trained its civil servants.
minded is regularly cited by world
leaders. And for many poorer nations
But they try to avoid direct compariin Africa and elsewhere, the Asian state
sons, given the vast dierences.
oered lessons that were
Lee built up a colonial
not imposed by institutrading port located on
major shipping lanes. Kagtions such as the World
We have been
ames challenge after the
Bank or cooked up by
1994 genocide was to nd
former colonial powers.
looking vey
a way to rebuild a nation
Rwanda has come as
attentively
lying 1,000km from the
close as any in Africa to
at the Singapoe coast that was torn apart
emulating Singapores
by a killing spree in which
rags-to-riches
rise,
model
800,000 mostly ethnic
though not in the same
Tutsis and moderate Huspectacular style anSHYAKA ANASTASE
nual per capita income is
tus were massacred.
CEO OF THE RWANDA
still roughly 100th that of
We have been lookGOVERNANCE BOARD
the Asian states.
ing very attentively at the
The landlocked naSingapore model, said
tion of 10 million people boasts years
Shyaka Anastase, chief executive ofcer of the Rwanda Governance Board,
of sturdy economic growth, pristine
whose role includes measuring governstreets and donor praise, although
ment service delivery using detailed
critics of President Paul Kagames
scorecards.
government say gains have come at
One of the cornerstones of Sinthe cost of political freedom.
Beating the odds is a challenge we
gapores success was ensuring they
Rwandans and Singaporeans share,
have a public service and public sector
that is eective, that is what Rwanda
Kagame told Singapore Prime Minister Lee Hsein Loong, the son of Lee
is looking at too, Anastase told Reu-

Egypts Sisi in Ethiopia to

bury dispute over Nile dam
The leaders of Egypt and Ethiopia have promised to boost co-operation on the Nile river
and turn a page on a long-running row over
Addis Ababas controversial dam project.
The meeting between Egyptian President Abdel Fattah al-Sisi and Ethiopian Prime Minister
Hailemariam Desalegn came a day after the
two, along with Sudan, signed an agreement
of principles on Ethiopias Grand Renaissance
Dam project. The agreement... represents a
positive step on the right path. Were not going to waste any more time, Sisi, making his
rst visit to Ethiopia, told reporters.

HARARE
Mr Lee Kuan Yew, the late prime minister of Singapore. The economic miracle he
masterminded is regularly cited by world leaders. AFP
ters. Some changes in Rwanda are in
plain sight. One Western diplomat said
Rwanda was obsessed with performance management.
Asias model for development has
oered more relevance to Africa than
the Western experience, said Patrick
Smith, an Africa expert and editor of
newsletter Africa Condential.
It happened more recently in a
much more competitive world, he
said, adding that a vital element in
Singapores advance was an ecient
state and civil service.
It is boring, but it has turned out
to be very true. But he said the list of
African nations which could display
such discipline in the state apparatus
was still short.
Few have followed, suggests Smith,
because many African states faced a
huge push for plurality, democracy
and questioning of authority which

didnt help top-down government.

David Ndii, a Kenyan economist,
said Africa was too diverse for one
model to t all.
Implementation is not a problem
in Africa. The problem is consensus,
he added. When you hear implementation, what it means is people have
refused to do those things.
Alongside Rwanda, the other commonly cited example of a nation taking
the Asian route is Ethiopia, a former
communist nation once brought to its
knees by famine but now one of Africas
fastest growing economies.
Like Rwanda, critics say Ethiopias
government crushes dissent, a charge
Addis Ababa denies.
Opponents of Kagame say the
rebel commander-turned-statesman
and his allies run Rwanda as a personal
efdom, stiing political and media
freedoms. - REUTERS

Divided Nigeian city feas post-election violence

As campaigning reached a peak for
tomorrows presidential election in
Nigeria, residents of the volatile city
of Kaduna made their own preparations stock-piling food and securing shops and homes for fear of postpoll unrest.
Just days before the vote, men and
women weaved through the northern
metropolis gridlocked streets with
wheelbarrows full of staples such as
black-eyed beans and plantains to
stash safely at home.
That woman is stocking up before
the election in case there is trouble,
said 38-year-old Shola Oyeniyi, sitting
outside the shop where she sells traditional robes.
Lots of people are doing it so that
they wont need to go out if there is
any trouble, Oyeniyi said. People are
scared. Some are leaving Kaduna to
return to their home villages until it
is over. Few have forgotten how the

city erupted into ethno-religious violence after the last election in 2011,
also between President Goodluck
Jonathan and former military ruler
Muhammadu Buhari.
About 800 people were killed
in three days of violence across Kaduna state.
I lost my cousin, his wife and
their children. They were burned
inside their car, said Godwin Chukwudi, 33, gazing at the oor in the
cramped cloth stall he runs in Kadunas central market.
This weekends election is being
tipped as the closest and most polarising vote since Nigeria Africas most
populous nation, its biggest economy
and top energy producer returned
to civilian rule in 1999.
Ratings agency Standard & Poors
said political risk was a signicant
factor in its decision to downgrade
Nigerias credit to B+ from BB- last

BRIEFING

Nigerian President Goodluck Jonathan

is contesting for the second term. Residents of Kaduna in northern Nigeria
live in fear of post-election unrest. AFP
week. There are already signs that the
contest between Jonathan, a southern Christian, and Buhari, a Muslim
northerner, might provoke another
wave of religious violence in a city
characterised by its fractured identity. On Monday, dozens of men broke
away from a peaceful rally in support

of Buharis All Progressives Congress

(APC) to attack the city centre campaign oce of Jonathans Peoples
Democratic Party (PDP).
The youths slashed posters of
Jonathan with machetes and hurled
rocks at his party campaign oce,
prompting retaliation from PDP
supporters before soldiers and police restored calm.
The clash is a reminder of the tensions within a city where, like much
of northern Nigeria, the APC enjoys
widespread popular support.
What happened must be condemned. It was uncalled for, PDP
youth leader Danjuma Bello Sarki
said. The APC mobilises people to
intimidate others.
Shehu Sani, a human rights activist
standing as an APC senatorial candidate, blamed a small minority acting
in revenge for Jonathan supporters
destroying APC posters. - REUTERS

Zimbabwe plans talks with

Germany over $739m debt
Zimbabwe is planning talks with Germany on
how to resolve a $739m debt it owes to euro
zones biggest economy, the southern African
nations nance minister said. President Robert Mugabes government owes foreign creditors, including the IMF and World Bank, $9bn
and is intensifying efforts to have the debt
cancelled or rescheduled to allow it to access
new loans. Finance Minister Patrick Chinamasa said Harare wanted to restore ties with Germany, the largest Paris Club creditor before
the EU and US slapped Mugabes government
with travel and nancial sanctions in 2000.

ABUJA
Nigeria holds rates at 13pc,
worried by growth outlook
Nigerias central bank has left its benchmark
interest rate unchanged at 13 per cent, saying
tight monetary policy should offset the inationary effects of elevated spending ahead of
a March 28 election.
Governor Godwin Emeele said the Monetary
Policy Committee was also satised with the
banks attempts to stabilise the naira, which
has come under major pressure in the last six
months due to the collapse in oil prices.
The currency has dropped from around 165
to the dollar a year ago to 198 this week, but
spiked as low as 206 in the interbank market
last month and is trading weaker than 220
in the black markets on the streets of Lagos
and Abuja.

LILONGWE
Malawi gets $18m IMF aid
after promise to ght graft
The International Monetary Fund will provide
$18.1 million to Malawi after its government
promised to tackle the corruption that led to
a suspension of aid by donors following largescale graft involving public funds. Donors, led
by former colonial ruler Britain, have withheld
direct aid to the southern African nation for
more than a year over a corruption scandal in
which top government ofcials and ministers
siphoned millions of dollars from the public
purse.
The IMF has said, after completing a review
of Malawis economic performance, that the
government was committed to rebuilding
trust in public institutions and bringing the
IMF-supported programme back on track.

Friday March 27, 2015 | BUSINESS DAILY

Business
Of
Bands

15

STRATEGY

South Korea rm picks Regal

Equipment as ofcial dealer in Kenya

p.17 APPOINTMENT
p.18
Barclays Life
Assurance
hires managing
director

FRIDAY, MARCH 27, 2015

SKILLS

Brookside to train
farmers in dairy
feeds production

Oient to insue long

haul tuckes, cago
amid ising insecuity
THE BIG STORY

POLICY >>From theft of goods in transit to

kidnapping and the murder of drivers and their

loaders, road safety has continued to deteriorate
BY BOB KOIGI

nsurance rm Kenya Orient has

launched a product for the road cargo
industry across the Common Market
for Eastern and Southern Africa (Comesa)
region at a time when truck haulage volumes are burgeoning, but security is at
an all time low.
Traditionally, there have been only limited and general insurance covers for long
haulage trucks and their contents.
But the upgrade of major roads like
the Northern Corridor, which runs from
Mombasa through Nairobi to the KenyaUganda border, and the Western Corridor,
which extends from Kenyas border with
northern Tanzania through Kisumu, Eldoret and Kitale to the South Sudan border has bolstered trade and the movement
of goods.
Since the upgrade of the roads, cargo
transport by road has increased by up to
45 per cent, according to data from the
World Bank. According to the Economic

Survey 2014, there are now an estimated 9,570 trucks in Kenya, with 22.3
million tonnes of goods transported
through the Port of Mombasa, 95 per
cent of it destined for the Comesa region via long haul trucks. This movement of goods, industry players now
say, will not only aid cargo movement, but also accelerate the pace of
economic growth by three per cent
yearly and lift the country to a higher middle income status. But even as
the country moves to world class road
infrastructure, the road travelled by
truck drivers and their loaders has
been bumpy. From theft of cargo in
transit, to kidnapping and the murder of truck drivers and their loaders,
road safety has deteriorated.
A report released by PriceWaterhouse Coopers in 2011 dubbed Africa
Transport Infrastructure identied
the safe arrival or lack of it of
road cargo as one of the key logistical

challenges that countries like Kenya

needed to address to draw more investors. Scenes of looted trucks during the
2008 post election violence still linger.
So too do the diculties for the hundreds of drivers transporting cargo
in hinterlands like northern Kenya or
Somalia, with sometimes kilometres
on end when they are alone and with
no protection. An ambush at such a
time sees them not only robbed but
at times killed.
We have lost three of our drivers
in the last two years in such circumstances. We have to use the road transport because we are distributing relief
food in northern Kenya and we have
to make several stops at designated
points. For the drivers who are lucky,
they walk kilometres on end after our
trucks are seized with millions worth
of relief aid. It has become almost predictable, said Alwahi Mustafa, a pro-

Trucks on the
MombasaNairobi
Highway.
The road
travelled by
truck drivers
and their
loaders has
been bumpy as
far as security
is concerned.
KEVIN ODIT

gramme ocer with Wahid International

Relief Agency, a humanitarian organisation working in Northern Kenya.
It is such eventualities, which are
not traditionally factored in by insurance companies, that Kenya Orient Insurance is now seeking to address. The
product dubbed The Orient Commercial
Insurance takes care of the personnel,
the truck and contents in the truck from
loss or damage to the windscreen to occupational accidents or the death of the
truck driver or loader.
This is a unique product that is a sure
catalyst for growth in the transport sector
a key driver of our economy and that of
the region. It oers investors in the long
haul cargo transport a peace of mind as
they conduct business in the region, said
Kenya Orient Insurance Limited Managing Director Muema Muindi at the Nairobi launch.
- AFRICAN LAUGHTER

BRIEFING
Telecoms

Survey

CommProve wins
Schneider Electric
monitoring contract report on fakes out

CommProve this week announced its

working with an African telecommunications regulator to monitor the Quality of
Service (QoS) of multiple mobile network
operators (MNOs). Darren Harding, CommProve VP of Sales for MEA, said telco
regulators typically have no way of determining the actual customer experience, or
monitoring if the customer experience is
improving or degrading, hence where their
expertise comes in.

Schneider Electric, a world specialist in

energy management, released the rst survey on electrical counterfeit products ever
conducted in Africa. The survey took place
in 11 African countries: Cameroon, Republic
of the Congo, Democratic Republic of the
Congo, Ghana, Guinea, Ivory Coast, Kenya,
Nigeria, Tanzania and Uganda. More than
500 ofcials and professionals were contacted by 37 investigators. They answered a
total of eight questions.

Handover

Transport
Mercy Kamau
(right), a sales
executive at
CICA Motors,
hands over the
keys of one
of four HD65
Hyundai trucks
to Daniel Koech
of Menengai
Oil Reneries
Limited.

DHL optimistic on
growth of logistics

DHL SSA expects 2015 to be a year of

growth for the logistics industry in Africa,
largely driven by increased consumer
demand and the rapidly developing e-commerce industry. This was said by Charles
Brewer, the managing director of DHL Express SSA, who was commenting against
the backdrop of Deutsche Post DHL Groups
full year results released in March. DPDHL
Group ended 2014 with revenues of EUR
56.6 billion, up 3.1pc compared to 2013.

16

BUSINESS DAILY | Friday March 27, 2015

Friday March 27, 2015 | BUSINESS DAILY

South Koea m picks

Regal Equipment as
ocial deale in Kenya

CORPORATE SCENE

BRIEFING
was acquiring a licence to prospect for gold in
western Kenya. On the other hand, Carstens
said there were opportunities to prospect for
iron ore in the country.
Interest in the countrys resources was further enhanced in March this year when British
oil explorer Tullow Oil announced signicant
oil nds in the northern county of Turkana.
Discovery of globally sought after minerals, like titanium in Kwale, has also meant investment in their exploration through heavy
machinery.
It is this demand that has inspired Hyundai
Heavy Industrys foray into the Kenyan market.
With its strategic location and its well developed business infrastructure, this will also allow for faster penetration in the region, said
Sun Seog, the companys general manager.

STRATEGY Hyundai Heavy Industries Co out to win a slice

of the equipment business in construction and mining sectors

BY BOB KOIGI

KCB chief business ofcer and MD Kenya Samuel Makome (left) with CMC Motors MD Solomon Muturi
during a CMC-KCB joint asset nance promotion at the CMC ofces in Nairobi on Wednesday that will see
customers acquire vehicles through a nancing portfolio. SALATON NJAU

Mr Anwar Hajee
(right), Imperial
Banks director incharge of corporate
social responsibility, and Mr Duncan
Harvey, Save the
Childrens country
director, review
the banks commitment to the global
childrens rights and
business principles.
rights. COURTESY

StarTimes Media
vice president for
marketing Mark
Lisboa (right)
and public relations manager
Alex Mwaura during the launch of
decoders at the
Intercontinental
Hotel in Nairobi .
SALATON NJAU

outh Korea based Hyundai Heavy Industries Co Ltd has entered into a partnership with Regal Equipment as its ocial
dealer in Kenya in a move meant to win a slice
of the construction and mining sectors equipment business.
The country and regions heavy investment
in infrastructure construction coupled with
the discovery of a range of natural resources,
is drawing in international investors.
According to data from Deloitte, East Africa
accounted for 29 per cent of the continents
2013 infrastructure spend, valued at Sh6 trillion, with the biggest share of the construction
spend spread across several projects in rail,
port, road, energy and oil and gas in Kenya.
The World Banks Kenya Economic Update
report indicates that sustained infrastructure
investment and falling international oil prices
will see the economy grow by seven per cent
in 2017.
In the fourth quarter of 2014, infrastructure
spending by the government saw the construction industry grow by 11 per cent compared
to 8.6 per cent in 2013, buoyed by the $2.75bn
(Sh250 billion) Eurobond oated by the government to fund the investment. The country

needs to invest $4bn (Sh364 billion) a year to

deliver on its infrastructure pledges, representing one of the largest infrastructure spends on
the continent, according to the African Development Bank.
The projects are central to the countrys
economic growth plans, with nancial analysts projecting, for example, that construction
of the Standard Gauge Railway will boost the
national purse by two per cent.

The boom in the construction and mining sectors has also been key in insulating the country
from the slump in the tourism sector, which has
traditionally boosted the national purse, with
the governments infrastructure drive continuing full pace.
In the current nancial year, infrastructure
has received a boost from the Sh25bn special
intervention kitty. The money is meant to
revamp the countrys roads, rail and airport
infrastructure in the 2015/16 and 2016/17 nancial year.
An extra Sh125.5bn has been allocated towards paying for maintenance of the road network and building new roads. The government
also plans to construct and rehabilitate 5,500

The percentage of the continents 2013 infrastructure

spend utilised by East Africa

Sh6trn
From left: Goodlife Pharmacy Limited CEO Tony McNally, International Finance Corporation director
for eastern and southern Africa Oumar Seydi, and head of health and education investment Biju Mohandas during the signing of a $4.5 million investment loan to help the company open 80 pharmacies across Kenya and East Africa. SALATON NJAU

Employees
Employeesof
ofHyundai
HyundaiHeavy
HeavyIndustries
Industrieswork
workat
ataadockyard
dockyardin
inUlsan,
Ulsan,near
nearSeoul.
Seoul.The
Thecompany
companyis
issetting
setting
up
AFP
upaahub
hubin
inKenya
Kenyawith
withan
aneye
eyeon
onthe
theEast
EastAfrica
Africaregion.
region.AFP

km of roads through a public-private partnership (PPP) and an extra 20kms of new roads
in each constituency by 2017. Cumulatively,
in this nancial year the government plans to
spend up to Sh27 trillion on mega infrastruc-

ture projects compared to Sh22.5 trillion last

year. At the same time, the government has
advertised for bidders to develop coal mines
in Kitui County where there are proven deposits, while African Barrick Gold in July said it

With infrastructural development and mineral

exploration now shifting to counties which are
underdeveloped in terms of machinery, Hyundai
sees a window of opportunity for its heavy industry machinery.
Peter D Costa, his counterpart from Regal
Equipment, sees the opening up of counties
to exploration as a ripe opportunity to grow
the companys foothold by 30 per cent and
subsequently 50 per cent in the next three to
ve years.
We intend to be the top machine solution
providers for all infrastructural and mining developments in the region, Mr DCosta said.
To reach county chiefs, the two companies
plan to roll out technical training for governors,
senators and engineers on ideal machinery and
purchase dynamics to avoid wastage of funds
on unnecessary purchases and thus increase
availability of nances for other projects.
The company plans to expand into Uganda, Tanzania, Rwanda, Burundi, Congo and
DRC.

QUARTER
QUARTER AGRICULTURE
AGRICULTURE

MINING
MINING&&QUARRY
QUARRY

MANUFACTURING
MANUFACTURING

ELECTRICITY
ELECTRICITY&&WATER
WATER CONSTRUCTION
CONSTRUCTION
SUPPLY
SUPPLY

WHOLESALE
WHOLESALE&&RETAIL
RETAIL
TRADE
TRADE

(CURRENT PRICES, SH MILLION)

ACCOMODATION
ACCOMODATION&&
RESTAURANT
RESTAURANT

TRANSPORT
TRANSPORT&&
STORAGE
STORAGE

ICT
ICT

2010
2010

786,825
10.0%
786,825 10.0%

26,027
26,027

31.7%
31.7%

356,717
356,717

4.5%
4.5%

62,484
62,484

6.3%
6.3%

142,666
142,666

19.1%
19.1%

243,017
243,017

9.5%
9.5% 49,909
49,909

-0.5%
-0.5%

217,000
217,000

5.0%
5.0%

68,331
68,331

17.4%
17.4%

2011
2011

980,064
980,064

2.4%
2.4%

32,506
32,506

19.0%
19.0%

437,798
437,798

7.2%
7.2%

69,474
69,474

9.4%
9.4%

164,622
164,622

4.0%
4.0%

300,688
300,688

8.3%
8.3% 50,286
50,286

4.1%
4.1%

266,181
266,181

7.1%
7.1%

61,000
61,000

22.0%
22.0%

2012
2012

1,113,574
1,113,574

2.9%
2.9%

46,576
46,576

19.0%
19.0%

463,998
463,998

-0.5%
-0.5%

85,830
85,830

9.6%
9.6%

190,856
190,856

11.2%
11.2%

331,415
331,415

7.0%
7.0% 57,522
57,522

3.1%
3.1%

329,346
329,346

2.8%
2.8%

67,588
67,588

2.2%
2.2%

2013
2013

1,249,704
1,249,704

5.1%
5.1%

38,580
38,580

-9.0%
-9.0%

496,313
496,313

5.9%
5.9%

91,810
91,810

5.8%
5.8%

212,106
212,106

5.5%
5.5%

373,699
373,699

9.2%
9.2% 58,327
58,327

-4.6%
-4.6%

351,209
351,209

1.3%
1.3%

68,452
68,452

13.5%
13.5%

11

894,055
894,055

5.7%
5.7%

10,681
10,681

4.1%
4.1%

140,982
140,982

7.9%
7.9%

20,081
20,081

1.1%
1.1%

56,598
56,598

9.0%
9.0%

100,842
100,842

11.8%
11.8% 14,906
14,906

-32.7%
-32.7%

85,507
85,507

1.2%
1.2%

17,868
17,868

10.7%
10.7%

22

858,914
858,914

4.5%
4.5%

9,216
9,216

5.9%
5.9%

129,179
129,179

8.4%
8.4%

24,222
24,222

1.2%
1.2%

62,778
18.8%
62,778 18.8%

105,751
105,751

7.0%
7.0% 10,794
10,794

-16.6%
-16.6%

100,767
100,767

2.2%
2.2%

16,694
16,694

6.9%
6.9%

33

289,186
289,186

8.2%
8.2%

10,254
10,254

2.8%
2.8%

145,430
145,430

4.5%
4.5%

28,416
28,416

5.0%
5.0%

62,130
62,130

119.267
119.267

7.2%
7.2% 13,223
-14.8%
13,223 -14.8%

113,551
113,551

4.0%
4.0%

14,881
14,881

6.8%
6.8%

2014
2014

$4bn

Kenya
Kenya needs
needs to
to invest
invest Sh367
Sh367 billion
billion aa year
year
to
deliver
on
its
infrastructure
pledges,
to deliver on its infrastructure pledges, reprepresenting
one
of
the
largest
infrastructure
resenting one of the largest infrastructure
spends
spends on
on the
the continent,
continent, according
according to
to the
the
African
Development
Bank.
African Development Bank.

11.0%
11.0%

Sh27trn

Barclays Life Assurance hires

managing director to drive growth
Barclays Africa Group Limited has announced the appointment of Mr William Maara as the managing director of Barclays Life Assurance Kenya
Limited (BLAK), a new underwriter in the Kenyan market.
Prior to joining BLAK, Mr Maara, a Chartered Insurance professional, was
the general manager at AON Kenya where he helped the company drive
its strategic direction and product innovation for nine years.
The appointment follows the granting of a licence earlier this month by
The Insurance Regulatory Authority (IRA) allowing BLAK to set up a life
insurance business. BLAK is a sister company to Barclays Bank of Kenya
and although the former will use the latters 120-strong branch network
to sell its products, the two entities will be operated and managed independent of each other.
Because Barclays is a long-standing nancial services player in Kenya,
there is a huge opportunity for us to leverage on our infrastructure and
channels to take insurance products to our customers in all corners of
Kenya. We are excited about the prospects presented by the industry in
Kenya whose life insurance market remains low despite concerted efforts
by market players to spur penetration, said Mr Maara
He said the company plans to roll out its products next month through an
elaborate agency model using the banks branch network.
BLAK will offer the family protection cover, education policy, personal accident covers and credit life products to lending institutions, plugging
demand largely coming from the Kenyas increasingly wealthier middleclass population.
Insurance Regulatory Authority (IRA) recently granted Barclays Bank a
bancassurance licence to operate the Barclays Insurance Agency Limited,
a subsidiary of BBK, which will allow the bank to use its vast branch network to sell all insurance products through partnerships with insurance
providers such as Barclays Life Kenya among others.
Barclays Bank managing director Jeremy Awori said: The granting of
these two licences by IRA provides us with a signicant opportunity to
roll out a host of insurance products and services offering us the opportunity to further boost insurance uptake in Kenya.
The approval also means that we are the rst underwriter in Kenya to roll
out this model, leveraging our branch network to cross-sell insurance
alongside bank products.

Airtel Kenya beats 16 rivals to win

Go to Market excellence award

- AFRICAN LAUGHTER

GROSS DOMESTIC PRODUCT BY ACTIVITY/ GDP GROWTH RATES%

29%
The amount of money spent in
2013 on infrastructure in East Africa. The majority of the construction spend was spread across
several projects in rail, port, road,
energy, and oil and gas in Kenya.

Shifting to counties

Slump in tourism

THE NUMBERS

17

SOURCE: KNBS / GRAPHIC BY GENNEVIEVE NAHINGA

The amount of money the government plans to spend on

mega infrastructure projects in
this nancial year compared to
Sh22.5 trillion last year.

Airtels Kenyan division won the award for what the mother company
termed as strategic business approach that encompasses its customerdriven market insights, product development strategies and acquisition
plans.
Adil El Yousse, Airtel Kenya chief executive, was delighted at the recognition. He said that the award highlights the companys dedication to developing strategies that help it deliver products and services which meet
customer expectations.
Our focus remains on identifying and understanding market needs to
enable us develop more innovative products and services and communication solutions that provide our customers with solutions to succeed ,
he added.
Airtel Kenya was honoured during this years Airtel leadership summit
dubbed Winning Customers for Life which began on March 19. The conference took place at Atlantis Palm in Dubai and lasted for four days.
Airtel Kenya has aggressively embarked on improving service delivery
and experience in a bid to retain and win new customers.
Last month the telco introduced new voice and data bundles that can be
used across all networks as it seeks to grow its telecommunication market share.
For Sh50, subscribers will now get 100MB, 20 minutes of airtime and 100
SMS per day.
The telco also heavily invested in high-speed Internet upgrade and spend
Sh2.5 billion on upgrading its network across the country to boost its 3G
high-speed Web access.
The upgrade is set to improve indoor coverage and data quality for 3G Internet users.
In January Airtel Kenya also integrated 2.55 million yuMobile customers
into its network, further increasing its customer base and market share.

16

BUSINESS DAILY | Friday March 27, 2015

Friday March 27, 2015 | BUSINESS DAILY

South Koea m picks

Regal Equipment as
ocial deale in Kenya

CORPORATE SCENE

BRIEFING
was acquiring a licence to prospect for gold in
western Kenya. On the other hand, Carstens
said there were opportunities to prospect for
iron ore in the country.
Interest in the countrys resources was further enhanced in March this year when British
oil explorer Tullow Oil announced signicant
oil nds in the northern county of Turkana.
Discovery of globally sought after minerals, like titanium in Kwale, has also meant investment in their exploration through heavy
machinery.
It is this demand that has inspired Hyundai
Heavy Industrys foray into the Kenyan market.
With its strategic location and its well developed business infrastructure, this will also allow for faster penetration in the region, said
Sun Seog, the companys general manager.

STRATEGY Hyundai Heavy Industries Co out to win a slice

of the equipment business in construction and mining sectors

BY BOB KOIGI

KCB chief business ofcer and MD Kenya Samuel Makome (left) with CMC Motors MD Solomon Muturi
during a CMC-KCB joint asset nance promotion at the CMC ofces in Nairobi on Wednesday that will see
customers acquire vehicles through a nancing portfolio. SALATON NJAU

Mr Anwar Hajee
(right), Imperial
Banks director incharge of corporate
social responsibility, and Mr Duncan
Harvey, Save the
Childrens country
director, review
the banks commitment to the global
childrens rights and
business principles.
rights. COURTESY

StarTimes Media
vice president for
marketing Mark
Lisboa (right)
and public relations manager
Alex Mwaura during the launch of
decoders at the
Intercontinental
Hotel in Nairobi .
SALATON NJAU

outh Korea based Hyundai Heavy Industries Co Ltd has entered into a partnership with Regal Equipment as its ocial
dealer in Kenya in a move meant to win a slice
of the construction and mining sectors equipment business.
The country and regions heavy investment
in infrastructure construction coupled with
the discovery of a range of natural resources,
is drawing in international investors.
According to data from Deloitte, East Africa
accounted for 29 per cent of the continents
2013 infrastructure spend, valued at Sh6 trillion, with the biggest share of the construction
spend spread across several projects in rail,
port, road, energy and oil and gas in Kenya.
The World Banks Kenya Economic Update
report indicates that sustained infrastructure
investment and falling international oil prices
will see the economy grow by seven per cent
in 2017.
In the fourth quarter of 2014, infrastructure
spending by the government saw the construction industry grow by 11 per cent compared
to 8.6 per cent in 2013, buoyed by the $2.75bn
(Sh250 billion) Eurobond oated by the government to fund the investment. The country

needs to invest $4bn (Sh364 billion) a year to

deliver on its infrastructure pledges, representing one of the largest infrastructure spends on
the continent, according to the African Development Bank.
The projects are central to the countrys
economic growth plans, with nancial analysts projecting, for example, that construction
of the Standard Gauge Railway will boost the
national purse by two per cent.

The boom in the construction and mining sectors has also been key in insulating the country
from the slump in the tourism sector, which has
traditionally boosted the national purse, with
the governments infrastructure drive continuing full pace.
In the current nancial year, infrastructure
has received a boost from the Sh25bn special
intervention kitty. The money is meant to
revamp the countrys roads, rail and airport
infrastructure in the 2015/16 and 2016/17 nancial year.
An extra Sh125.5bn has been allocated towards paying for maintenance of the road network and building new roads. The government
also plans to construct and rehabilitate 5,500

The percentage of the continents 2013 infrastructure

spend utilised by East Africa

Sh6trn
From left: Goodlife Pharmacy Limited CEO Tony McNally, International Finance Corporation director
for eastern and southern Africa Oumar Seydi, and head of health and education investment Biju Mohandas during the signing of a $4.5 million investment loan to help the company open 80 pharmacies across Kenya and East Africa. SALATON NJAU

Employees
Employeesof
ofHyundai
HyundaiHeavy
HeavyIndustries
Industrieswork
workat
ataadockyard
dockyardin
inUlsan,
Ulsan,near
nearSeoul.
Seoul.The
Thecompany
companyis
issetting
setting
up
AFP
upaahub
hubin
inKenya
Kenyawith
withan
aneye
eyeon
onthe
theEast
EastAfrica
Africaregion.
region.AFP

km of roads through a public-private partnership (PPP) and an extra 20kms of new roads
in each constituency by 2017. Cumulatively,
in this nancial year the government plans to
spend up to Sh27 trillion on mega infrastruc-

ture projects compared to Sh22.5 trillion last

year. At the same time, the government has
advertised for bidders to develop coal mines
in Kitui County where there are proven deposits, while African Barrick Gold in July said it

With infrastructural development and mineral

exploration now shifting to counties which are
underdeveloped in terms of machinery, Hyundai
sees a window of opportunity for its heavy industry machinery.
Peter D Costa, his counterpart from Regal
Equipment, sees the opening up of counties
to exploration as a ripe opportunity to grow
the companys foothold by 30 per cent and
subsequently 50 per cent in the next three to
ve years.
We intend to be the top machine solution
providers for all infrastructural and mining developments in the region, Mr DCosta said.
To reach county chiefs, the two companies
plan to roll out technical training for governors,
senators and engineers on ideal machinery and
purchase dynamics to avoid wastage of funds
on unnecessary purchases and thus increase
availability of nances for other projects.
The company plans to expand into Uganda, Tanzania, Rwanda, Burundi, Congo and
DRC.

QUARTER
QUARTER AGRICULTURE
AGRICULTURE

MINING
MINING&&QUARRY
QUARRY

MANUFACTURING
MANUFACTURING

ELECTRICITY
ELECTRICITY&&WATER
WATER CONSTRUCTION
CONSTRUCTION
SUPPLY
SUPPLY

WHOLESALE
WHOLESALE&&RETAIL
RETAIL
TRADE
TRADE

(CURRENT PRICES, SH MILLION)

ACCOMODATION
ACCOMODATION&&
RESTAURANT
RESTAURANT

TRANSPORT
TRANSPORT&&
STORAGE
STORAGE

ICT
ICT

2010
2010

786,825
10.0%
786,825 10.0%

26,027
26,027

31.7%
31.7%

356,717
356,717

4.5%
4.5%

62,484
62,484

6.3%
6.3%

142,666
142,666

19.1%
19.1%

243,017
243,017

9.5%
9.5% 49,909
49,909

-0.5%
-0.5%

217,000
217,000

5.0%
5.0%

68,331
68,331

17.4%
17.4%

2011
2011

980,064
980,064

2.4%
2.4%

32,506
32,506

19.0%
19.0%

437,798
437,798

7.2%
7.2%

69,474
69,474

9.4%
9.4%

164,622
164,622

4.0%
4.0%

300,688
300,688

8.3%
8.3% 50,286
50,286

4.1%
4.1%

266,181
266,181

7.1%
7.1%

61,000
61,000

22.0%
22.0%

2012
2012

1,113,574
1,113,574

2.9%
2.9%

46,576
46,576

19.0%
19.0%

463,998
463,998

-0.5%
-0.5%

85,830
85,830

9.6%
9.6%

190,856
190,856

11.2%
11.2%

331,415
331,415

7.0%
7.0% 57,522
57,522

3.1%
3.1%

329,346
329,346

2.8%
2.8%

67,588
67,588

2.2%
2.2%

2013
2013

1,249,704
1,249,704

5.1%
5.1%

38,580
38,580

-9.0%
-9.0%

496,313
496,313

5.9%
5.9%

91,810
91,810

5.8%
5.8%

212,106
212,106

5.5%
5.5%

373,699
373,699

9.2%
9.2% 58,327
58,327

-4.6%
-4.6%

351,209
351,209

1.3%
1.3%

68,452
68,452

13.5%
13.5%

11

894,055
894,055

5.7%
5.7%

10,681
10,681

4.1%
4.1%

140,982
140,982

7.9%
7.9%

20,081
20,081

1.1%
1.1%

56,598
56,598

9.0%
9.0%

100,842
100,842

11.8%
11.8% 14,906
14,906

-32.7%
-32.7%

85,507
85,507

1.2%
1.2%

17,868
17,868

10.7%
10.7%

22

858,914
858,914

4.5%
4.5%

9,216
9,216

5.9%
5.9%

129,179
129,179

8.4%
8.4%

24,222
24,222

1.2%
1.2%

62,778
18.8%
62,778 18.8%

105,751
105,751

7.0%
7.0% 10,794
10,794

-16.6%
-16.6%

100,767
100,767

2.2%
2.2%

16,694
16,694

6.9%
6.9%

33

289,186
289,186

8.2%
8.2%

10,254
10,254

2.8%
2.8%

145,430
145,430

4.5%
4.5%

28,416
28,416

5.0%
5.0%

62,130
62,130

119.267
119.267

7.2%
7.2% 13,223
-14.8%
13,223 -14.8%

113,551
113,551

4.0%
4.0%

14,881
14,881

6.8%
6.8%

2014
2014

$4bn

Kenya
Kenya needs
needs to
to invest
invest Sh367
Sh367 billion
billion aa year
year
to
deliver
on
its
infrastructure
pledges,
to deliver on its infrastructure pledges, reprepresenting
one
of
the
largest
infrastructure
resenting one of the largest infrastructure
spends
spends on
on the
the continent,
continent, according
according to
to the
the
African
Development
Bank.
African Development Bank.

11.0%
11.0%

Sh27trn

Barclays Life Assurance hires

managing director to drive growth
Barclays Africa Group Limited has announced the appointment of Mr William Maara as the managing director of Barclays Life Assurance Kenya
Limited (BLAK), a new underwriter in the Kenyan market.
Prior to joining BLAK, Mr Maara, a Chartered Insurance professional, was
the general manager at AON Kenya where he helped the company drive
its strategic direction and product innovation for nine years.
The appointment follows the granting of a licence earlier this month by
The Insurance Regulatory Authority (IRA) allowing BLAK to set up a life
insurance business. BLAK is a sister company to Barclays Bank of Kenya
and although the former will use the latters 120-strong branch network
to sell its products, the two entities will be operated and managed independent of each other.
Because Barclays is a long-standing nancial services player in Kenya,
there is a huge opportunity for us to leverage on our infrastructure and
channels to take insurance products to our customers in all corners of
Kenya. We are excited about the prospects presented by the industry in
Kenya whose life insurance market remains low despite concerted efforts
by market players to spur penetration, said Mr Maara
He said the company plans to roll out its products next month through an
elaborate agency model using the banks branch network.
BLAK will offer the family protection cover, education policy, personal accident covers and credit life products to lending institutions, plugging
demand largely coming from the Kenyas increasingly wealthier middleclass population.
Insurance Regulatory Authority (IRA) recently granted Barclays Bank a
bancassurance licence to operate the Barclays Insurance Agency Limited,
a subsidiary of BBK, which will allow the bank to use its vast branch network to sell all insurance products through partnerships with insurance
providers such as Barclays Life Kenya among others.
Barclays Bank managing director Jeremy Awori said: The granting of
these two licences by IRA provides us with a signicant opportunity to
roll out a host of insurance products and services offering us the opportunity to further boost insurance uptake in Kenya.
The approval also means that we are the rst underwriter in Kenya to roll
out this model, leveraging our branch network to cross-sell insurance
alongside bank products.

Airtel Kenya beats 16 rivals to win

Go to Market excellence award

- AFRICAN LAUGHTER

GROSS DOMESTIC PRODUCT BY ACTIVITY/ GDP GROWTH RATES%

29%
The amount of money spent in
2013 on infrastructure in East Africa. The majority of the construction spend was spread across
several projects in rail, port, road,
energy, and oil and gas in Kenya.

Shifting to counties

Slump in tourism

THE NUMBERS

17

SOURCE: KNBS / GRAPHIC BY GENNEVIEVE NAHINGA

The amount of money the government plans to spend on

mega infrastructure projects in
this nancial year compared to
Sh22.5 trillion last year.

Airtels Kenyan division won the award for what the mother company
termed as strategic business approach that encompasses its customerdriven market insights, product development strategies and acquisition
plans.
Adil El Yousse, Airtel Kenya chief executive, was delighted at the recognition. He said that the award highlights the companys dedication to developing strategies that help it deliver products and services which meet
customer expectations.
Our focus remains on identifying and understanding market needs to
enable us develop more innovative products and services and communication solutions that provide our customers with solutions to succeed ,
he added.
Airtel Kenya was honoured during this years Airtel leadership summit
dubbed Winning Customers for Life which began on March 19. The conference took place at Atlantis Palm in Dubai and lasted for four days.
Airtel Kenya has aggressively embarked on improving service delivery
and experience in a bid to retain and win new customers.
Last month the telco introduced new voice and data bundles that can be
used across all networks as it seeks to grow its telecommunication market share.
For Sh50, subscribers will now get 100MB, 20 minutes of airtime and 100
SMS per day.
The telco also heavily invested in high-speed Internet upgrade and spend
Sh2.5 billion on upgrading its network across the country to boost its 3G
high-speed Web access.
The upgrade is set to improve indoor coverage and data quality for 3G Internet users.
In January Airtel Kenya also integrated 2.55 million yuMobile customers
into its network, further increasing its customer base and market share.

18

BUSINESS DAILY | Friday March 27, 2015

Bookside to tain fames Airtel, UP Magazine to

in daiy feeds poduction fete innovative Kenyans
in new award scheme

SKILLS Processor

says the plan will

ensure milk supplies
throughout the year

Airtel has partnered with UP Magazine

to launch an award to recognise Kenyans
making a positive impact in their daily
lives.
Dubbed Design Thinking, DXD- Disruption by Design, the award looks to reward
innovative Kenyans in various categories which include architecture design,
communications design, fashion design,
interior design, interactive design focusing on web design, gaming and mobile interfaces tech design, product
design, green designs that improve the
environment.
We are delighted to celebrate the creativity, power and inuence of many young
Kenyans whose unique skills and expertise have helped to positively impact our
society, said Airtel Kenya chief executive Adil El Yousse (right). This award,
therefore, creates a unique platform
to recognise and reward them, giving
them the opportunity to showcase their
skills which will help make positive and
sustainable change beyond the Kenyan
borders.
The selection criteria for all of the awards
are excellence, innovation, and enhancement of the quality of life.
Individual candidates must be citizens or
long-term residents of Kenya and have
been practising design for at least three

BY WILSON OKONGO

ilk processor Brookside

wants farmers to invest
in animal feed conservation as a way of building sustainability in the dairy sector.
General manager in charge of
milk procurement and extension
services John Gethi said dependence on rain-fed agriculture had led
to uctuation of production which
drops during the dry seasons.
We have embarked on a farmer
empowerment programme that
seeks to train our raw milk suppliers on feed preparation and conservation to enable them sustain milk
volumes they sell to us, he said yesterday at the processors Ruiru oces
when he received farmers from Kirima Slopes Dairy Co-operative Society of Kirinyaga county.
In the past, there have been concerns by farmers over increasing
costs of commercial animal feeds,
amidst reports that some unscrupulous dealers were adulterating the

Mr John Gethi, Brookeside general manager in charge of milk procurement and

extension services. COURTESY
feeds, compromising their quality.
The Brookside ocial challenged
farmers to increase the amount of
milk sold to processors as one way
increasing their income.
Recently, we increased our farmgate prices to a high of Sh40 per kilo.
However, dairy is a volume-based
enterprise where you earn more by
delivering more milk to processors,
said Mr Gethi.
Adequate feeding of animals is
one way of enabling the dairy herd
to increase production.
He said raw milk suppliers contracted by Brookside had begun
receiving farm inputs on credit after the processor unveiled agro-vet
shops near all its milk cooling stations to serve farmers.
The cost of the inputs, which in-

clude animal feed and drugs, would

be recovered from farmers dues from
milk sales.
We intend to increase the
number of training courses so that
as many dairy farmers as possible
benet from increased knowledge
in animal husbandry, he said.
Mr Gethi expressed optimism
that the onset of the long rains,
though delayed, would boost milk
production.
Gethi said the rm had identied
a farm in each county that would act
as a demonstration centre, where
dairy farmers would be trained in
modern dairy management.
He said Brookside would emphasise record keeping during the
training as a critical practice for the
success of the dairy farms.

years. Corporations and institutions must

have their headquarters in Kenya.
Finalists for the awards would be selected for a body of realised work, not for any
one specic project.
Candidates are proposed by an ofcial
nominating committee and are invited to
submit materials for a jurys review.
The DXD committee is expected to oversee the events, submission process and
the grand nale.

MARKETING TRENDS
Global Marketing Budgets by Medium
Oct-14

80
75
70
65
60
55
50
45
40
35
30

Nov-14

Dec-14

Jan-15

Digital marketing
budget as a percentage
of company revenue

Feb -15

Total

2.5%

Healthcare

2.2%

Industry

Retail

Declining

Oct-14
Nov-14
Dec-14
Jan-15
Feb-15

Oct-14
Nov-14
Dec-14
Jan-15
Feb-15

Oct-14
Nov-14
Dec-14
Jan-15
Feb-15

Oct-14
Nov-14
Dec-14
Jan-15
Feb-15

Oct-14
Nov-14
Dec-14
Jan-15
Feb-15

Oct-14
Nov-14
Dec-14
Jan-15
Feb-15

Growing

Note: Data was gathered from responses to the

following question: What percentage of your
organisations total marketing expense budget is
allocated to digital marketing in 2012?

2.5%

Media

3.9%

Manufacturing

High-Tech

2.8%

2.3%

Financial Services/ Insurance

2.4%

Digital
(ex. mobile)

Mobile

TV

OOH (Out of
home media)

Radio

Press

Note: Data was gathered from responses to the following question: Please
prioritise which of these digital marketing activities are most important to
your marketing organisations success.
Most Important

2nd Most Important

Sum of
respondents

3rd Most Important

Design, development and

18
12
maintenance of corporate
website
Marketing on social
6
21
networks
Digital and online
advertising

18

Content creation and

management

13

Commerce experiences
(marketing-led)

12

10

Search marketing
(including paid search)

15

12

10

Mobile marketing

Analytics

222

6%

43%

35%

13
5

45%
43%

16

13

Email marketing

Company blog

SOURCE: WORLDECONOMICS.COM

IN KENYA

What activities contribute to digital

marketing success

27%
26%
24%
24%
24%

SOURCE: GARTNER (MARCH 2013)

Highest Company Advertising Budgets in 2014

Safaricom tops
the list of marketing
spenders in Kenya.

Sh8.05bn Sh2.9bn Sh2.8bn

Safaricom

Reckitt Benckiser

Population Services (PS)

Sh2.1bn
Samsung

Sh2.09bn

East African Breweries Ltd

Sh1.9bn
Unilever

SOURCE: REELFORGE

Friday March 27, 2015 | BUSINESS DAILY

19

MONEY & MARKETS

NEWS I REVIEWS I ANALYSIS

Safaicoms histoic Sh681bn

maket value excites investos
FIGURES Latest market capitalisation

means that the value of shares bought

during IPO have gone up by 230 per cent

BY GEORGE NGIGI

Safaricom market
capitalisation in 2015 (Sh Bn)
Safaricom shareholders have seen the
value of their stock collectively grow by
Sh92 billion since the beginning of the year.

BY CHARLES MWANIKI

performance for the year, it is more

Safaricom yesterday touched a historic likely that the current demand on limtrading high of Sh17 on the Nairobi ited supply has sparked the share price
Securities Exchange (NSE), raising surge. We anticipate a minor price corits market capitalisation by a hefty rection in the short term before a reSh41 billion compared to Monday peated gradual rise in the run up to
full year results in May, said Genghis
this week.
The new high price pushed the capi- Capital analyst Silha Rasugu.
talisation of the giant telecommunicaForeign investor activity has been
tion rm to Sh681 billion compared to comparatively low -meaning that deSh640 billion on Monday, when it hit mand has been driven by locals- and
a price of Sh16.00 per share.
going by the high turnover levels,
both retail and primaIn terms of the averrily institutional invesage price for yesterday,
tors. Given the rapid
the counter hit an all-time
Despite the wide rise over a short time
high of Sh16.45 and a capitalisation of Sh659 billion.
span, I would classify
spead positive
Compared to Mondays avthe current momensentiment ove the tum
erage price of Sh15.90 and
as speculative in
capitalisation of Sh637 companys nancial the short term, said
billion. It means that over pefomance fo the Mr Rasugu.
the past four days the comFor
Safaricom
yea...
panys market value has SILHA RASUGU, GENGHIS CAPITAL shareholders, Vodafones stake in the
grown by an average of
ANALYST
telco is now worth
Sh22 billion.
Sh264 billion, and the
The latest high by Safaricom will be welcome news to share- governments is worth Sh231 billion.
holders including Vodafone Group Two years ago, the entire worth of the
and the government, who hold 40 company was Sh274 billion. For retail
and 35 per cent respectively in the investors, the growth story of Safaricompany respectively. Retail inves- coms share has been a source of joy
tors hold the remaining 25 per cent in and regret in equal measure.
the company.
Safaricom in 2011 fell to an all-time
Despite wide spread positive sen- lows of Sh2.50, as some investors betiment over the companys nancial came pessimistic with the fall in net

1/2/15

3/26/15
SOURCE: REUTERS/NSE

prots and exited at a lossand are

likely also counting the potential gains
their exit has cost them.
Some of those who waited patiently
for the counter to recover back to IPO
price of Sh5 after years of trading below
that level quickly cashed in once the
share returned to that level in late 2012.
The investors who held onto their stock
are now enjoying their share of a 230per cent gain on the IPO price, or over
Sh460 billion worth of the new wealth
generated on the stock.
Investors have also been looking
at the companys dividend policy, in
which it pays out above 80 per cent of
net income as dividend. According to
Genghis Capital analysts, this has made
the counter an increasingly attractive
investment especially for foreign investors. Safaricom paid a dividend
of 31 cents a share for the year that
ended on March 31, 2013, and raised
the payout to 47 per share in the year

KWFT pot up
25 pe cent on
deposits gowth

An M-Pesa customer. Analysts expect

M-Pesa revenue growth to further lift
Safaricoms NSE outlook. FILE
through March 2014, representing 82
per cent of net income. According to
Kestrel Capital analyst Linet Muriungi, Safaricom alongside bank counters
of Equity, KCB, and Cooperative Bank
are poised for above average growth
over the medium and long term due
to strong fundamentals.
We consider their current high
valuation relative to peers not only
justiable, and likely to ease o as the
companies continue to record sturdy
year-on-year growth, said Ms Muriungi in the Kestrels Kenya macroeconomic and equities outlook 2015.
The rm expects growth in voice,
data and M-Pesa revenue arising from
increased subscriber minutes, active
data use and the launch of additional
M-pesa products.
cmwaniki@ke.nationmedia.com

The Kenya Women Finance Trust

(KWFT) has grown its prots by
a quarter as it started reaping the
benets of its conversion to a micronance bank.
The microlender reported a profit after tax of Sh490 million up from
Sh391 million a year earlier. The lender has been aggressive in growing its
business, trying to attract both savers
and borrowers.
Its loan book expanded by Sh4
billion to Sh18.8 billion while its deposit base increased by Sh4.2 billion
to Sh17.1 billion. The lender reduced
its borrowing to Sh4.2 billion from
Sh4.9 billion underlining increased
reliance on customer savings for lending. KWFT started mobilising deposits
from the public in 2010 after conversion from a credit-only micronance
institution.
The capital-intensive conversion
process had seen KWFTs prots take
a dip for three years in a row before
rebounding in the last two years.
KWFT is ranked as the largest
player in the micronance bank sector
with over 600,000 customers who are
largely women. It received donations
of Sh18 million last year attributable
to its providing nancial services to
women up from Sh3 million the previous year. This contributed to its net
prots rise to Sh509 million. Last year
it ceded shareholding to new investors through a Sh1.37 billion capital
injection.

Local coee pices dop 26pc as Bazil oods global maket

BY GERALD ANDAE

Prices at the Nairobi Coee Exchange

(NCE) have dropped by 26 per cent in
the last month as a result of high supply at the international market that is
hurting the local price.
In this weeks auction, a 50-kilogramme bag of coee traded at an average of $206 (Sh18,746) against $279
(Sh25,389) early February.
Traders at the NCE peg their prices
to the worlds largest auction in New
York and low prices there aect the local crop given the fact that over 90 per
cent of the beverage is exported.
At the New York Coee Exchange,
the price of a 50-kilogramme bag has

dropped from $180 (Sh16,380) in December to $148 (Sh13,468) this week,

representing a 17 per cent decline.
The head of coee directorate Grenville Kiplimo said the low international
prices have dealt a blow to local coee
as the price has been dipping gradually
in every auction since February.
The traders peg their buying price
to the New York Exchange and the low
prices at that auction aects the local
crop, said Mr Kiplimo.
NCE chief executive ocer Daniel Mbithi said a good harvests from
Brazil and Colombia had ooded the
international market, driving down
auction prices.
We have witnessed an increase in

An ofcial at the Nairobi Coffee Exchange prepares samples. FILE

volume of coee in the world market
and this has had a direct impact on

our prices, said Mr Mbithi. Last year,

Brazil had a bad crop because of bad
weather, hence creating a shortage in
the world market, and thereby pushing
up the price. The International Coee
Organisation anticipates a good crop
this year from Brazil.
The countrys coee is in high demand, mainly in the UK and America,
with traders buying it for blending
with other coee from dierent parts
of the world.
Despite coee being a key foreign
exchange earner in Kenya, output remains low. The government however
plans to raise production in the coming years through introduction of highyielding varieties.

The Ministry of Agriculture projects

that coee output will rise 22 per cent
to about 60,000 tonnes in the next two
crop years from about 49,000 tonnes in
2013/14, as a result of increase of area
under cultivation, as well as the use of
high-yielding varieties.
Coee production has dropped
from 130,000 tonnes in the 1980s to
an average of 50,000 tonnes currently,
in what has been attributed to change
in land use.
The slump in prices comes at a time
when the Agriculture ministry is betting on a Sh5 billion Commodity Fund
to issue cheap credit to coee farmers
in the latest bid to revive the once-vibrant sector.

20

BUSINESS DAILY | Friday March 27, 2015

Friday March 27, 2015 | BUSINESS DAILY

21

MONEY & MARKETS GLOBAL

Dolla slides as US gowth slows down

USD/KE

REACTION Saudi Arabia and Gulf allies air

strikes in Yemen lead to surge in oil prices

The US dollar ground lower in small
ranges yesterday, edging towards a
four-week low against the yen in the
wake of disappointing US data that
suggested the greenbacks recent rally
is on ice for now.
News that Saudi Arabia and its
Gulf Arab allies had launched air
strikes in Yemen also quelled risk
sentiment and led to a surge in oil
prices, though the forex market
impact was muted. The strikes are
aimed at Houthi ghters who have
tightened their grip on the southern
city of Aden.
Against the yen, the dollar came
within a whisker of a one-month
trough of 119.22 yen set on Tuesday.
It reached 119.26 on the EBS trading
platform before staging a small recovery to 119.29, still down about 0.2 per
cent on the day, with Tokyo market
participants citing dip-buying interest as it approaches the 119-level.
Data overnight showed spending
on US durable goods fell for a sixth
straight month in February, fresh evidence that economic growth slowed
sharply early in the year, in part due
to bad weather.
The gures came on the heels
of last weeks dovish steer from the

Federal Reserve, which is now seen

as likely to hike interest rates later
rather than sooner, and kept the dollar index under pressure.
The index, which tracks the US
unit against a basket of six major
rivals, dipped about 0.2 per cent to
96.809, moving back in the direction
of a three-week trough of 96.387 set
on Tuesday. As recently as March 13, it
scaled a 12-year peak of 100.390.
Also making dollar bulls uncomfortable, Chicago Fed President
Charles Evans said he was concerned
the strong dollars clear disinationary pressure could get embedded in
expectations.Evans said that could
make it even harder for the Fed to
reach its two per cent ination target,
adding there was no compelling reason to hurry and raise interest rates.
He urged a delay in rate hikes until
the rst half of next year.
Yesterdays surge in oil prices, if
sustained, might have a negative effect on global growth, but it would
have an upside in helping to alleviate some of the downward pressure
on prices.
The recent oil price collapse has
kept central banks, including the
Fed and the Bank of Japan, from

US dollar notes. FILE

Kenya ination rate

making much progress in achieving
their ination targets. Energy prices
are up signicantly, and that could
be good news for the Fed. We need
to see how far they can recover, and
if the rises can be sustained. So the
main focus is on what oil prices do
from now, said Ayako Sera, market
strategist at Sumitomo Mitsui Trust
Bank in Tokyo.
With the dollar on the back foot,
the euro found itself irting with
$1.1000 again. It was last at $1.0976,
up about 0.1 per cent on the day, and
well o a 12-year trough of $1.0457
plumbed two weeks ago.
Our technical analysts think
the current correction could extend
higher (they are targeting 1.1180) but
the longer-term downtrend is still

intact, Elsa Lignos, senior currency

strategist at RBC, wrote in a note to
clients.
The euro was modestly lower
against its Japanese counterpart at
130.90 yen, but was well clear of a
21-month trough of 126.86 touched
on March 13.
Commodity currencies failed to
capitalize on the softer greenback
with the Australian, New Zealand
and Canadian currencies all losing
a bit of ground.
The Aussie dollar skidded 0.3 per
cent to $0.7815, pulling further away
from a two-month high of $0.7939. It
was not helped by volatile commodity prices and worries about slowing
growth in China, Australias biggest
trading partner. -REUTERS

Tracking the markets: Benchmark Index (Latest Data)

Africa
JSE All Share Index

Uganda

South Africa

Mar15

July 14

NGSE All share

Tanzania

2,076.36
0.45%

51,620.22
-1.32%

July 14

DSE All Share

USE All Share

Mar15

July 14

Mar15

Mar15

Average Tea Prices USD/Kg

July 14

Mar15

Feb14

Xetra Dax

July 14

Mar15

24,497.08
-0.13%

11,670.88
-1.64%

17,718.54
-1.62%

July 14

Mar15

July 14

Sensex

Tokyo

Hongkong

Mar15

Mumbai
19,471.12
-1.39%

July 14

Mar15
SOURCE: EATTA

Nikkei

HangSeng

Frankfurt

New York

Feb. 2015

137.33
0.00%

30,060.25
0.57%

July 14

Central Bank rate

Rwanda

Nigeria
2,693.31
-0.22%

Jan. 2015

Dec. 2013

RSE All Share

World
DJ Industrial

Mar15

Feb14

Mar15

27,457.58
-2.33%

July 14

Mar15

Av. Coffee Prices in 50kg bags

Oct 13

Mar15

22

BUSINESS DAILY | Friday March 27, 2015

MARKET DATA
Agro Commodities Market
Early Morning wholesale commodity prices Date 26.03.2015
COMMODITY
Unit
Kg
Code
CEREAL
Dry Maize
Bag
90
20
Green Maize
Ext Bag
115
19
Finger Millet
Bag
90
41
Sorghum
Bag
90
42
Wheat
Bag
90
48
LEGUMES
Beans Canadian
Bag
90
4
Beans Rosecoco
Bag
90
5
Beans Mwitemania
Bag
90
7
Mwezi Moja
Bag
90
6
Dolichos (Njahi)
Bag
90
35
Green Gram
Bag
90
46
Cowpeas
Bag
90
45
Fresh Peas
Bag
51
27
Groundnuts
Bag
110
44
ROOTS & TUBERS
Red Irish Potatoes
Bag
50
29
White Irish Potatoes
Bag
50
30
Cassava Fresh
Bag
99
43
Sweet Potatoes
Bag
98
31
VEGETABLES
Cabbages
Ext Bag
126
9
Cooking Bananas
Med Bunch
22
2
Carrots
Ext Bag
138
13
Tomatoes
Lg Box
64
32
Onions Dry
net
13
22
Spring Onions
Bag
142
23
Kales
Bag
50
15
Chillies
Bag
38
11
Cucumber
Bag
50
14
Capsicums
Bag
50
12
Brinjals
Bag
44
8
Cauliower
crate
39
10
Lettuce
Bag
51
17
FRUITS
Passion Fruits
Bag
57
25
Oranges
Bag
93
24
Lemons
Bag
95
16
Mangoes Local
Bag
126
21
Ripe Bananas
Med Bunch
14
3
Mangoes Ngowe
Sm Basket
25
36
Limes
net
13
18
Pineapples
Dozen
13
28
Pawpaw
Lg Box
54
26
Avocado
Bag
90
1
OTHERS
Eggs
Tray
47
300

Nairobi Mombasa Kisumu

2400
3600
7200
4000

6200
6400
6200
6200
6800
11500
7200
3200
13000

2500
5300
7900
2700

6800
6500

Nakuru

Eldoret

Kitui

Kisii

M&A Equity Deals completed this week worldwide

2200
2500
7200
5400
3400

2500
2000
6800
4050

3200

Issuer

Domicile Nation
Name

TF Macro
Description

Silver Chef Ltd

Australia

Consumer
Products and
Services

Fuyao Glass Ind Grp Co Ltd

China

Industrials

Cowell e Holdings Inc

China

Peyto Expln & Dvlp Corp

Canada

Energy and Power

Origin Enterprises PLC

Ireland-Rep

Materials

Premium Brands Holdings Corp

Canada

Consumer Staples

Citizens Financial Group Inc

United States

Financials

Diplomat Pharmacy Inc

United States

Retail

EnLink Midstream Partners LP

United States

Santos Ltd

3200
2400
7200
3600

2100
2000
6500
3150

7200
7200

6400
6400
4900

7200
7200

6000
10800
7200
4500
12500

11250
11700
6300
2040
12600

7650
9900
6300
3500
14080

12000
8000
2500
10400

2000
2000
2200
3400

2200
2500
1400
3100

2000
2000
2100
2500

2200
2000

2200
2000

3000

2500

2600
560
4000
6000
900
2000
2800
3200
2200
3000
2200
2600
2400

4200
600
6300
6600
1000
3800
3500
3400
1750
2500
2200
2340
3000

2400
300
5000
5000
1040
1500
3000
1400

350
2500
3000
850
1500
3700
3500

4800
3400
2600
2700
640
1000
900
800
2300
2400

5000
3200
2600
550
1000
900
900
900
3300

3100
3200
1600
3000
300
1800

5000
3200
2700
3500
750

620
1300
1600

330

300

280

2600
1350

3500

3200
1200
1800
3000
1200
780
2000

8900
8900
6900
8900
7200
8900
8900
3500
14300
2300
2300
1000
5000
2400
700
3500
2500
910
700

13200

2500
3800
350
5000
4000
600
1800
3500

3000

2700
2600

2400
600
700

1600
800
1500
500
600

480
2500
2500

910
3780
2000

910
700
2000

550
650
900

360

300

320

SOURCE: STATE DEPARTMENT OF AGRICULTURE. EMAIL MARKETINFO@KILIMO.GO.KE

Unit Trusts
EFFECTIVE DATE: 25TH MAR 2015
CURRENCY DAILY YIELD EFFECTIVE ANNUAL RATE
MONEY MARKET FUND
SH
7.36%
7.62%
OLD MUTUAL
SH
10.86%
11.47%
BRITISH AMERICAN
SH
8.90%
9.25%
CBA
SH
10.84%
11.45%
UAP
SH
11.10%
11.74%
ICEA
SH
10.79%
11.34%
AMANA
SH
11.63%
12.15%
GENCAP HELA
SH
9.69%
10.17%
PAN AFRICA PESA+
SH
9.80%
10.26%
STANLIB
CURRENCY
BUY
SELL
FIXED INCOME FUND
SH
113.78
109.80
GENCAP HAZINA
USD
101.53
101.53
NABO AFRICA
BALANCED FUND
SH
165.89
176.65
OLD MUTUAL / TOBOA
SH
195.56
201.28
BRITISH AMERICAN
SH
139.70
140.88
BA MANAGED RETIREMENT
SH
124.00
124.00
AMANA
SH
146.43
154.13
ICEA
SH
132.56
127.92
GENCAP ENEZA
SH
11.02
11.57
UAP
SH
10.61
10.94
PAN AFRICA CHAMA+
SH
131.84
131.84
STANLIB
USD
103.01
103.01
NABO AFRICA
EQUITY FUND
SH
415.42
445.11
OLD MUTUAL
SH
162.02
171.47
OLD MUTUAL EAST AFRICA FUND
SH
125.13
125.13
AMANA
SH
214.12
220.92
BRITISH AMERICAN
SH
168.53
168.53
CBA
SH
155.50
163.69
ICEA
SH
138.87
134.01
GENCAP HISA
SH
10.90
11.45
UAP
SH
191.79
191.79
STANLIB
USD
113.52
113.52
NABO AFRICA
BOND FUND
SH
101.65
104.06
OLD MUTUAL BOND FUND
SH
137.65
140.46
BRITISH AMERICAN
SH
97.55
98.53
ICEA
SH
10.76
10.76
UAP
SH
100.55
100.55
STANLIB
SH
99.88
99.88
STANLIB
SH
10.25
10.57
PAN AFRICA PATA+
SHARIAH COMPLIANT
SH
118.65
112.72
GENCAP IMAN

Offer
Price

1,153,846.00

7.8

7.06

Australian Dollar

439,679,600.00

16.8

952.52

Hong Kong Dollar

208,000,000.00

4.25

113.99 Hong Kong Dollar

4,380,000.00

34.25

49,000,000.00

8.25

100

135,000,000.00

23.75

3,206.25 U.S. Dollar

8,540,109.00

29

247.66 U.S. Dollar

Energy and Power

22,800,000.00

25.71

586.19 U.S. Dollar

Australia

Energy and Power

14,270,511.00

7.53

ZS Pharma Inc

United States

Healthcare

4,015,939.00

46.25

Gray Television Inc

United States

Media and
Entertainment

12,000,000.00

13

156

U.S. Dollar

Franklin Financial Network Inc

United States

Financials

2,640,000.00

21

55.44

U.S. Dollar

Heidelberger Druckmaschinen AG

Germany

Industrials

100

64.3

Hoist Finance AB

Sweden

Financials

40,725,246.00

58

278.09 Swedish Krona

Capital First Ltd

India

Financials

7,692,300.00

390

48.19 Indian Rupee

Spotless Group Holdings Ltd

Australia

Consumer
Products and
Services

103,967,625.00

2.21

180.92

Australian Dollar

Alstria Ofce REIT-AG

Germany

Real Estate

7,901,847.00

13

112.18

EURO

Whiting Petroleum Corp

United States

Energy and Power

100

1,000.00

U.S. Dollar

inContact Inc

United States

Consumer
Products and
Services

100

100

U.S. Dollar

Misawa & Co Ltd

Japan

Retail

840,000.00

801

6.46

Japanese Yen

Cellectis SA

France

Healthcare

5,500,000.00

41.5

La Quinta Holdings Inc

United States

Media and
Entertainment

20,750,000.00

23.71

491.98

U.S. Dollar

Whiting Petroleum Corp

United States

Energy and Power

35,000,000.00

30

1,050.00

U.S. Dollar

Aabar Investments PJSC

Utd Arab Em

Financials

100

TerraVest Capital Inc

Canada

Financials

100

20.02

Boston Pizza Royalties Income

Canada

Retail

5,047,613.00

22.1

89.14 Canadian Dollar

Brixmor Property Group Inc

United States

Real Estate

22,500,000.00

26.38

593.55 U.S. Dollar

Kennedy-Wilson Holdings Inc

United States

Real Estate

7,500,000.00

25.55

191.62 U.S. Dollar

Windward Resources Ltd

Australia

Materials

20,000,000.00

0.3

4.72

Platinum Group PCL

Thailand

Real Estate

700,000,000.00

7.4

159.34

Synergy Grp Hldg Intl Ltd

Hong Kong

Industrials

125,000,000.00

0.5

8.06 Hong Kong Dollar

Kwan On Holdings Ltd

Hong Kong

Industrials

240,000,000.00

0.3

9.28 Hong Kong Dollar

Kong Sun Holdings Ltd

Hong Kong

Real Estate

352,000,000.00

1.07

48.56 Hong Kong Dollar

Amax International Holdings Lt

Hong Kong

Media and
Entertainment

11,000,000.00

0.7

0.99 Hong Kong Dollar

Anoto Group AB

Sweden

High Technology

79,625,292.00

0.427

Aramark

United States

Retail

22,500,000.00

32.45

730.12 U.S. Dollar

Chesapeake Lodging Trust

United States

Real Estate

4,000,000.00

34

136 U.S. Dollar

TECSYS Inc

Canada

High Technology

674,157.00

8.9

4.79 Canadian Dollar

Irish Residential Properties

Ireland-Rep

Real Estate

215,000,000.00

TransAlta Renewables Inc

Canada

Energy and Power

15,820,000.00

12.65

Noricum Gold Ltd

United Kingdom

Materials

239,000,000.00

0.002

Lenta Ltd

Russian Fed

Retail

35,200,000.00

6.4

Carrefour SA

France

Retail

12,700,000.00

31

8800

3000

3700
4000

Shares Offered sum of all Mkts

6000

Proceeds Amt Currency

inc. Over Sold sum of all Mkts
($ mil)

119.89 Canadian Dollar

443.55 EURO
39.96 Canadian Dollar

84.25

Australian Dollar

185.74 U.S. Dollar

EURO

228.25 U.S. Dollar

2,184.12 EURO

Canadian Dollar

Australian Dollar
Thai Baht

Swedish Krona

237.41 EURO
159.91 Canadian Dollar
0.72

British Pound

225.28 U.S. Dollar

431.03

EURO

Friday March 27, 2015 | BUSINESS DAILY

23

MARKET DATA
African Indices

Nairobi Stocks

NAME

NSE 20 Share Index

5252.74
-0.42%

Nairobi

LOCATION

LAST

KENYA

5,252.74

-22.36

-0.42%

-0.97

-0.02%

6,103.71

6,103.71

6,103.71

6,104.68

-692.80

-1.32%

51,996.32

52,195.29

51,620.22

52,313.02

NSE 20 - SHR IDX

LUSE ALL SHARE INDEX

2,076.36

9.34

0.45%

2,067.02

2,067.02

2,067.02

2,067.02

160.05

-2.06

-1.27%

162.11

162.11

162.11

162.11

22,005.35

-87.46

-0.40%

22,069.03

22,102.81

21,944.78

22,092.81

14,920.29

0.00

0.00%

14,920.29

14,920.29

14,920.29

14,920.29

TANZANIA

2,693.31

-5.97

-0.22%

2,699.28

2,699.28

2,699.28

2,699.28

NIGERIA

30,060.25

170.34

0.57%

29,889.84

30,076.25

29,889.84

29,889.91

5,300.00

CFG INDEX

MOROCCO

5,200.00

MALAWI ALL SHR

MALAWI

5,100.00

DSE ALL SHR IDX

5,000.00

NSE ALL SHARE/D

4,900.00

EGX 30 IDX/D

4,800.00

TUN MAIN INDEX

173.73
0.39%

Nairobi

182.00
177.00
172.00
167.00
162.00
157.00
152.00
147.00
July 14

March 15

FTSE Pan African Index

1339.46
9.12%

Nairobi
1500.00
1450.00
1400.00
1350.00
1300.00
1250.00
1200.00
1150.00
July 14

March 15

Active
Active Counters
Counters
Prev Fri ffri

Total Shares

Change

Traded

Safaricom

16.45

16.10

2.17%

20,194,200

Equity

49.75

49.50

0.51%

4,591,100

Barclays

16.90

17.15

-1.46%

2,792,600

KCB

60.50

60.50

0.00%

2,467,000

KQ

8.90

8.60

3.49%

2,368,200

Gainers
Last Frifri
Counter

EAPC

Price

Prev Fri ffri

Price

Net

Change

Chng

59.00

55.50

3.50

6.31%

BOC Gases

135.00

130.00

5.00

3.85%

Carbacid

21.00

20.25

0.75

3.70%

8.90

8.60

0.30

3.49%

46.75

45.50

1.25

2.75%

KQ
Car & Gen

Losers
Counter

Last Frifri
Price

Kakuzi

252.00

280.00

-28.00

-10.00%

5.75

6.20

-0.45

-7.26%

24.25

25.00

-0.75

-3.00%

Sameer
NBK

EGYPT

9,012.91

-185.55

-2.02%

9,145.92

9,145.92

8,948.75

9,198.46

TUNISIA

5,300.38

-14.64

-0.28%

5,317.95

5,318.42

5,299.66

5,315.02

RWANDA

137.33

0.00

0.00%

137.33

137.33

137.33

137.33

Daily Share Report

All Share Index (NASI)

Price

5,275.10

UGANDA

ZSE INDUSTRIAL

Price

CLOSE

5,275.10

ZIMBABWE

ALSIUG

Last Frifri

LOW

5,275.10

6,103.71

5,400.00

Counter

HIGH

5,275.10

51,620.22

5,500.00

RSE ALLSHARE IND

OPEN

ZAMBIA

JSE ALL SHARE INDEX

March 15

PCT.CHNG

SOUTH AFRICA

5,600.00

July 14

NET.CHNG

Prev Fri fri

Net
price
Change

%
Chng

KenolKobil

9.75

10.05

-0.30

-2.99%

Kenya Power

17.95

18.40

-0.45

-2.45%

MARKET UPDATES

52 WK
HIGH

52 WK
LOW

AGRICULTURAL
100.00
26.00
EAAGADS
346.00
110.00
KAKUZI
180.00
120.00
KAPCHORUA TEA
1185.00
620.00
LIMURU TEA
27.50
27.50
REA VIPINGO
18.50
11.50
SASINI
319.00
240.00
WILLIAMSON TEA
AUTOMOBILES & ACCESSORIES
62.00
31.00
CAR & GEN
13.60
8.00
MARSHALLS
9.40
5.50
SAMEER
BANKING
18.45
15.30
BARCLAYS
155.00
104.00
CFC STANBIC
280.00
216.00
DTBK
63.00
31.00
EQUITY
55.00
33.25
HF
147.00
120.00
I&M HOLDINGS
64.50
42.25
KCB
34.00
22.25
NBK
85.00
55.00
NIC BANK
357.00
290.00
STAN. CHART.
25.00
17.10
CO-OP BANK
COMMERCIAL
8.50
4.15
EXPRESS (K)
20.25
20.25
HUTCHINGS BIEMER
13.50
7.60
KQ
30.75
7.90
LONGHORN PUBLISHERS
325.00
225.00
NATION MEDIA
247.00
40.00
SCANGROUP
47.50
26.25
STANDARD GRP
49.50
32.00
TPS EA
15.60
8.00
UCHUMI
CONSTRUCTION & ALLIED
95.00
76.00
ARM CEMENT LTD
206.00
135.00
BAMBURI
165.00
83.00
CROWN BERGER
17.00
13.50
EA CABLES
110.00
51.00
EAPC
ENERGY & PETROLEUM
13.15
8.70
KENGEN
10.50
7.90
KENOLKOBIL
18.50
12.85
KENYA POWER
32.00
22.00
TOTAL
23.00
13.00
UMEME
INSURANCE
40.00
16.40
BRITISH AMERICAN
12.40
7.50
CIC INSURANCE
575.00
301.00
JUBILEE
21.00
16.00
KENYA RE
26.00
15.10
LIBERTY KENYA
142.00
101.00
PAN AFRICA
INVESTMENT
84.50
35.00
CENTUM INVEST.
10.85
2.50
OLYMPIA
30.00
17.50
TRANSCENTURY
INVESTMENT SERVICES
15.00
NAIROBI SECURITIES EXCHG 28.00
MANUFACTURING & ALLIED
11.10
11.10
A. BAUMANN
165.00
123.00
BOC GASES
1050.00
521.00
BAT KENYA
37.00
19.60
CARBACID
355.00
250.00
EABL
5.35
2.65
EVEREADY EA
192.00
4.40
K. ORCHARDS
3.85
1.35
MUMIAS
56.50
22.00
UNGA
TELECOMMUNICATION & TECHNOLOGY
SAFARICOM
17.00
11.75
GROWTH AND ENTERPRISE MARKET SEGMENT
ATLAS DEVT & SUPPORT LTD 13.75
11.00
8.00
FLAME TREE GROUP HOLDINGS 14.00
5.80
3.00
HOME AFRICA
1500.00
KURWITU VENTURES LTD 1500.00

YTD
%

VWA
LAST
PRICE

VWA
PREV
PRICE

DAILY
PRICE
CHANGE

DAILY
TRADED
SHARES

SHARES
ISSUED

EPS
LATEST
12MNTH

P/E
TRAILING

PBV
TRAILING

DPS
LATEST
12MNTH

TOTAL
DIVIDEND
YIELD

-11.90%
55.56%
-5.11%
45.78%
0.00%
8.95%
5.24%

37.00
252.00
130.00
1124.00
27.50
13.70
261.00

37.00
280.00
130.00
1124.00
27.50
14.00
261.00

0.00%
-10.00%
0.00%
0.00%
0.00%
-2.14%
0.00%

1,500
100
38,500
500

32,157,000
19,599,999
3,912,000
1,200,000
60,000,000
228,055,500
8,756,320

1,189,809,000.0
4,939,199,748.0
508,560,000.0
1,348,800,000.0
1,650,000,000.0
3,124,360,350.0
2,285,399,520.0

-1.30
8.17
32.21
23.80
5.85
0.54
81.36

-28.46
30.84
4.04
47.23
4.70
25.37
3.21

2.96
1.70
0.37
5.47
0.74
0.49
0.36

0.00
3.75
5.00
7.50
0.00
0.25
7.00

0.00%
1.49%
3.85%
0.67%
0.00%
1.82%
2.68%

-15.74%
19.39%
3.33%

46.75
11.95
5.75

45.50
11.70
6.20

2.75%
2.14%
-7.26%

2,300
5,100
41,700

40,103,308
14,393,106
278,342,393

1,874,829,649.0
171,997,616.7
1,600,468,759.8

6.57
-11.90
-0.24

7.12
-1.00
-23.96

0.90
0.44
0.69

0.60
0.00
0.30

1.28%
0.00%
5.22%

2.69%
0.81%
3.40%
-1.00%
-15.30%
4.07%
6.14%
1.01%
4.35%
2.09%
3.75%

16.90
126.00
244.00
49.75
38.25
127.00
60.50
24.25
59.50
340.00
21.00

17.15
125.00
243.00
49.50
38.75
128.00
60.50
25.00
60.00
342.00
20.75

-1.46%
0.80%
0.41%
0.51%
-1.29%
-0.78%
0.00%
-3.00%
-0.83%
-0.58%
1.20%

2,792,600
101,000
89,000
4,591,100
67,000
1,000
2,467,000
42,400
620,700
52,200
1,067,100

5,431,536,000
395,321,638
242,110,105
3,702,777,020
235,750,000
392,362,039
2,984,227,692
280,000,000
639,945,603
309,159,514
4,889,316,295

91,792,958,400.0
49,810,526,388.0
59,074,865,620.0
184,213,156,745.0
9,017,437,500.0
49,829,978,953.0
180,545,775,366.0
6,790,000,000.0
38,076,763,378.5
105,114,234,760.0
102,675,642,195.0

1.54
14.38
21.92
4.55
4.30
11.75
5.63
3.11
7.07
33.21
1.64

10.97
8.76
11.13
10.93
8.90
10.81
10.75
7.80
8.42
10.24
12.80

2.84
2.16
2.56
3.57
1.48
2.27
2.82
0.55
1.83
2.90
2.39

1.00
6.15
2.40
1.80
1.75
1.90
2.00
0.00
1.00
17.00
0.50

5.92%
4.88%
0.98%
3.62%
4.58%
1.50%
3.31%
0.00%
1.68%
4.26%
2.38%

-3.23%
0.00%
-1.15%
-6.49%
-6.46%
-0.55%
8.63%
-9.46%
7.46%

6.00
20.25
8.90
8.75
246.00
44.50
37.75
33.25
10.75

6.00
20.25
8.60
8.65
246.00
45.00
37.75
33.50
10.80

0.00%
0.00%
3.49%
1.16%
0.00%
-1.11%
0.00%
-0.75%
-0.46%

2,100
2,368,200
67,600
3,800
2,900
3,100
31,600

35,403,790
360,000
1,496,469,035
243,750,000
188,542,286
378,865,102
81,731,808
182,174,108
364,959,616

212,422,740.0
7,290,000.0
13,318,574,411.5
2,132,812,500.0
46,381,402,356.0
16,859,497,039.0
3,085,375,752.0
6,057,289,091.0
3,923,315,872.0

0.01
-18.34
-2.25
1.62
13.10
2.70
2.57
3.45
1.45

600.00
-1.10
-3.96
5.40
18.78
16.48
14.69
9.64
7.41

1.07
4.26
1.18
5.67
2.06
1.70
0.55
0.98

0.00
0.00
0.00
2.00
10.00
0.40
0.50
1.35
0.30

0.00%
0.00%
0.00%
22.86%
4.07%
0.90%
1.32%
4.06%
2.79%

-2.91%
15.11%
6.31%
-4.63%
-4.31%

82.50
160.00
119.00
15.30
59.00

83.50
160.00
118.00
15.45
55.50

-1.20%
0.00%
0.85%
-0.97%
6.31%

63,000
15,400
3,900
26,700
300

495,275,000
362,959,275
23,727,000
253,125,000
90,000,000

40,860,187,500.0
58,073,484,000.0
2,823,513,000.0
3,872,812,500.0
5,310,000,000.0

3.01
9.80
9.01
1.37
-4.30

27.41
16.33
13.21
11.17
-13.72

5.03
2.01
2.07
1.61
1.10

0.60
12.00
1.75
1.00
0.00

0.73%
7.50%
1.47%
6.54%
0.00%

5.34%
15.52%
27.34%
8.33%
-10.95%

10.65
9.75
17.95
26.25
18.45

10.85
10.05
18.40
26.00
18.70

-1.84%
-2.99%
-2.45%
0.96%
-1.34%

1,119,600
323,500
68,800
36,900
2,400

2,198,361,456
1,471,761,200
1,951,467,045
175,028,706
1,623,878,005

23,412,549,506.4
14,349,671,700.0
35,028,833,457.8
4,594,503,532.5
29,960,549,192.3

1.29
0.74
3.31
2.08
2.26

8.26
13.18
5.42
12.62
8.16

0.34
2.15
0.80
0.90
3.27

0.40
0.20
0.50
0.60
0.73

3.76%
2.05%
2.79%
2.29%
3.96%

-11.76%
0.52%
26.67%
11.44%
6.45%
6.67%

25.75
9.90
571.00
18.75
25.00
129.00

26.25
9.65
570.00
19.00
24.75
128.00

-1.90%
2.59%
0.18%
-1.32%
1.01%
0.78%

1,203,100
1,250,500
5,000
810,200
6,100
1,200

1,938,415,838
2,615,538,528
59,895,000
699,949,068
535,707,499
96,000,000

49,914,207,828.5
25,893,831,427.2
34,200,045,000.0
13,124,045,025.0
13,392,687,475.0
12,384,000,000.0

1.47
0.43
48.00
4.29
2.15
9.07

17.52
23.02
11.90
4.37
11.63
14.22

2.88
3.20
3.20
0.73
2.53
3.71

0.30
0.10
7.50
0.60
1.00
0.00

1.17%
1.01%
1.31%
3.20%
4.00%
0.00%

-2.46%
13.46%
-7.24%

59.50
5.80
17.75

59.50
5.90
17.95

0.00%
-1.69%
-1.11%

68,200
300,200
7,700

665,441,775
40,000,000
280,284,476

39,593,785,612.5
232,000,000.0
4,975,049,449.0

4.54
0.38
1.06

13.11
15.26
16.75

1.95
0.29
0.94

0.00
0.00
0.40

0.00%
0.00%
2.25%

19.55

19.20

1.82%

58,200

194,625,000

3,804,918,750.0

1.35

14.48

5.21

0.25

1.28%

0.00%
4.00%
-10.68%
-6.90%
6.17%
8.11%
1.82%
20.51%
8.18%

11.10
135.00
810.00
21.00
325.00
4.00
112.00
2.35
44.00

11.10
130.00
811.00
20.25
327.00
4.00
112.00
2.35
43.00

0.00%
3.85%
-0.12%
3.70%
-0.61%
0.00%
0.00%
0.00%
2.33%

900
268,400
35,800
338,300
31,200
1,804,900
300

3,840,066
19,525,446
100,000,000
254,851,988
790,774,356
210,000,000
12,868,124
1,530,000,000
75,708,873

42,624,732.6
2,635,935,210.0
81,000,000,000.0
5,351,891,748.0
257,001,665,700.0
840,000,000.0
1,441,229,888.0
3,595,500,000.0
3,331,190,412.0

-2.02
10.38
42.55
1.93
8.21
-0.85
0.15
-1.77
3.65

-5.50
13.01
19.04
10.88
39.59
-4.71
746.67
-1.33
12.05

1.81
10.70
3.24
9.41
2.60
589.47
0.34
0.71

0.00
5.20
42.50
0.30
5.50
0.00
0.00
0.00
0.75

0.00%
3.85%
5.25%
1.43%
1.69%
0.00%
0.00%
0.00%
1.70%

14.59%

16.45

16.10

2.17%

20,194,200

40,065,428,000

659,076,290,600.0

0.57

28.86

8.23

0.47

2.86%

-23.17%
-

11.30
9.60
3.15
1500.00

11.25
9.60
3.15
1500.00

0.44%
0.00%
0.00%
0.00%

800
314,300
-

433,063,193
161,866,804
405,255,320
102,272

4,893,614,080.9
1,553,921,318.4
1,276,554,258.0
153,408,000.0

-0.04
0.92
0.05
-62.40

-282.50
10.43
63.00
-24.04

0.00
0.92
0.00
0.00

0.00%
9.59%
0.00%
0.00%

MKT CAP.
KSHS

TO RECEIVE NATIONMOBILE ALERTS ON YOUR CELLPHONE, SMS THE STOCK YOU WANT, E.G. STOCKS KENGEN, TO 20667.
6667. EACH
EACHALERT
ALERTCOSTS
COSTSSH5
SH5ABOVE
ABOVENORMAL
NORMALRATES.
RATES.

24

BUSINESS DAILY | Friday March 27, 2015

MARKET DATA
Equities & Bonds
Kenya Treasury and Infrastructure Bonds

Share Price Performance Scorecard

SCORECARD AS AT 26TH MAR 2015
NAME
A BAUMANN
ATLAS DEVPNT & SPPRT SERV
ATHI RIVER MINING
BAMBURI
BARCLAYS KEN
BAT KENYA
BOC KENYA
BRITISH AMERICAN
CAR & GENERAL
CARBACID INV
CENTUM INV
CFC STANBIC BANK
CIC INSURANCE
CO-OP BANK
CROWN BERGER
DIAMOND KEN
EA CABLES
EA PORT CEM
EAAGADS
EA AFR BREW
EQUITY BANK
EVEREADY EA
EXPRESS KEN
FLAME TREE HLDNGS
G WILLIAMSON
HUTCHINGS BIEMER
HOME AFRICA LIMITED
HOUSING FIN
I&M HOLDING
JUBILEE HLDS
KAKUZI
KAPCHORUA
KEN ORCHARDS
KENGEN
KENYA AIRWAYS
KENYA COM BK
KENOLKOBIL
KENYA POWER
KENYA RE
KURWITU
LIBERTY HOLDINGS
LIMURU TEA
LONGHORN
MARSHALL
MUMIAS SUGAR
NAIROBI SECURITIES
NATION MEDIA
NATL BANK KEN
NIC BANK
OLYMPIA CAPITAL
PAN AFR INS
REA VIPINGO
SAFARICOM
SAMEER AFRICA
SASINI
SCANGROUP
STANDARD GRP
STD CHART KEN
TOTAL KENYA
TPS (EA)
TRANSCENTURY
UCHUMI SUPER
UNGA GROUP

PREVIOUS
11.10
11.25
83.50
160.00
17.15
811.00
130.00
26.25
45.50
20.25
59.50
125.00
9.65
20.75
118.00
243.00
15.45
55.50
37.00
327.00
49.50
4.00
6.00
9.60
261.00
20.25
3.15
38.75
128.00
570.00
280.00
130.00
112.00
10.85
8.60
60.50
10.05
18.40
19.00
1500.00
24.75
1124.00
8.65
11.70
2.35
19.20
246.00
25.00
60.00
5.90
128.00
27.50
16.10
6.20
14.00
45.00
37.75
342.00
26.00
33.50
17.95
10.80
43.00

CLOSE
11.10
11.30
82.50
160.00
16.90
810.00
135.00
25.75
46.75
21.00
59.50
126.00
9.90
21.00
119.00
244.00
15.30
59.00
37.00
325.00
49.75
4.00
6.00
9.60
261.00
20.25
3.15
38.25
127.00
571.00
252.00
130.00
112.00
10.65
8.90
60.50
9.75
17.95
18.75
1500.00
25.00
1124.00
8.75
11.95
2.35
19.55
246.00
24.25
59.50
5.80
129.00
27.50
16.45
5.75
13.70
44.50
37.75
340.00
26.25
33.25
17.75
10.75
44.00

% 1D
0.00
0.44
-1.20
0.00
-1.46
-0.12
3.85
-1.90
2.75
3.70
0.00
0.80
2.59
1.20
0.85
0.41
-0.97
6.31
0.00
-0.61
0.51
0.00
0.00
0.00
0.00
0.00
0.00
-1.29
-0.78
0.18
-10.00
0.00
0.00
-1.84
3.49
0.00
-2.99
-2.45
-1.32
0.00
1.01
0.00
1.16
2.14
0.00
1.82
0.00
-3.00
-0.83
-1.69
0.78
0.00
2.17
-7.26
-2.14
-1.11
0.00
-0.58
0.96
-0.75
-1.11
-0.46
2.33

% 5D
0.00
0.44
-0.60
-1.84
-1.17
-0.61
-3.57
-4.63
-7.43
-5.62
0.85
-0.79
11.24
2.44
0.85
1.24
1.66
1.72
-1.33
0.00
-4.33
0.00
0.00
1.05
-8.10
0.00
-1.56
-1.92
1.60
3.63
-10.00
-7.80
0.00
-2.74
-1.66
0.00
-2.01
-2.18
0.54
0.00
1.01
0.00
4.17
-0.42
-6.00
3.71
-3.53
-3.00
-3.25
0.00
-3.01
0.00
3.46
-10.85
-1.79
-10.55
-6.79
-2.58
-3.67
-0.75
-0.28
2.38
1.73

% 1M
0.00
-1.31
-10.33
3.23
-1.74
-7.74
-10.00
-12.71
-6.50
-16.00
-0.83
-4.55
-12.78
-4.55
-20.67
-0.81
-4.38
-9.23
-6.33
2.20
-9.55
-12.09
-4.76
12.94
-13.00
0.00
-14.86
-1.92
0.79
5.16
-23.64
-7.14
-2.61
0.47
-10.10
2.54
-2.99
2.87
1.08
0.00
1.01
0.90
-2.78
0.00
-16.07
-1.26
-6.11
-6.73
-9.16
-6.45
15.18
0.00
4.44
-11.54
-11.04
-9.18
-19.25
-2.86
-4.55
-5.00
-4.05
6.44
-2.22

% 3M
0.00
-5.83
0.61
15.11
2.42
-10.30
0.75
-3.74
-15.00
2.44
0.85
1.61
8.79
11.41
7.21
2.95
-3.16
1.72
-15.91
6.91
4.19
14.29
-7.69
20.00
8.75
0.00
-23.17
-14.04
4.10
29.77
23.53
-5.11
1.82
12.11
7.23
5.22
12.07
25.09
9.97
0.00
8.70
32.08
-1.69
46.63
23.68
-0.76
-6.46
-1.02
4.39
17.17
11.21
0.00
17.50
-6.50
14.64
-1.66
8.63
4.94
0.00
0.00
-1.93
8.04
16.56

% 6M
0.00
-3.51
8.11
-4.52
-8.37
-3.57
-23.13
-1.58
-23.64
-0.83
-1.56
-10.00
0.00
-4.03
-9.29
1.66
-15.71
-6.92
18.61
-7.01
35.59
-17.24
-7.77
0.00
0.00
-16.39
-7.30
29.48
21.15
-0.76
80.65
4.93
-5.82
5.22
5.98
26.86
1.63
11.11
27.73
-59.30
20.71
17.50
-15.00
-21.41
-9.35
-23.72
10.48
0.78
0.00
29.53
-16.06
-5.19
9.20
12.69
3.03
1.94
-5.00
0.00
3.37
23.08

% 1Y
0.00
-8.84
-20.40
1.20
27.96
-10.00
40.71
50.81
-40.00
60.81
20.00
0.00
5.00
42.51
6.09
-1.61
-39.49
26.50
20.82
56.69
14.29
44.58
-10.00
0.00
0.00
10.87
0.00
87.21
110.00
-9.72
3633.33
-8.19
-29.37
30.11
-0.51
22.95
-1.32
50.60
81.29
-32.69
8.64
-29.85
-20.39
-21.77
-9.16
33.33
12.17
0.00
32.13
-17.86
-22.82
-9.18
22.76
6.92
14.13
-24.86
0.00
-25.35
85.26

MARCH 26, 2015

ISSUE

MATURITY

ISSUED VALUE COUPON

TRADED

PREVIOUS

TOTAL

DATE

DATE

IN MILLIONS

YIELD

PRICE

VALUE TRADED

(%)

(KSHS)

(%)

ISSUE NO.

(%)

TWO YEAR BONDS

FXD 2/2013/2YR

25-MAR-13

23-MAR-15 19,960.65

12.9400

100.4915

FXD 3/2013/2YR

26-AUG-13

24-AUG-15 17,927.40

12.9390

101.1994

FXD 4/2013/2YR

24-DEC-13

21-DEC-15 25,251.00

11.5530

100.7496

FXD 1/2014/2YR

24-MAR-14

21-MAR-16 20,000.00

10.8030

100.2806

FXD 2/2014/2YR

26-MAY-14

23-MAY-16 20,130.15

10.7930

100.0682

FXD 3/2014/2YR

22-DEC-14

19-DEC-16 8,905.12

10.8900

99.7894

FXD 1/2015/2YR

23-JAN-15

20-FEB-17 23,592.55

11.4700

10.9000

101.1268

250,000,000

FIVE YEAR BONDS

FXD 1/2010/5YR

24-MAY-10

18-MAY-15 11,924.85

6.9510

FXD 2/2010/5YR

30-NOV-10

23-NOV-15 14,973.10

6.6710

97.2455

FXD 1/2011/5YR

31-JAN-11

25-JAN-16 22,083.10

7.6360

97.0450

FXD 1/2012/5YR

28-MAY-12

22-MAY-17 31,079.55

11.8550

98.5816

FXD 1/2013/5YR

29-APR-13

23-APR-18 20,240.75

12.8920

104.7520

FXD 2/2013/5YR

1-JUL-13

25-JUN-18 26,340.05

11.3050

FXD 3/2013/5YR

25-NOV-13

19-NOV-18 14,937.80

11.9520

FXD 1/2014/ 5YR

28-APR-14

22-APR-19 25,540.95

10.8700

97.8865

FXD 2/2014/ 5YR

23-JUN-14

17-JUN-19

16,418.25

11.9340

100.9360

24-APR-06

13-APR-15 3,060.25

13.5000

102.2668

98.9033

100.3825
11.0000

102.2205

200,000,000

NINE YEAR BONDS

FXD 1/2006/9YR
TEN YEAR BONDS
FXD 1/2006/10YR

27-MAR-06

14-MAR-16 3,451.05

14.0000

102.1563

FXD 2/2006/10YR

29-MAY-06

16-MAY-16 5,028.10

14.0000

103.9277

FXD 1/2007/10YR

29-OCT-07

16-OCT-17 9,308.80

10.7500

99.3880

FXD 1/2008/10YR

29-OCT-07

16-OCT-17 2,992.75

10.7500

95.8019

10.7500

100.4667

FXD 2/2008/10YR

28-JUL-08

16-JUL-18

FXD 3/2008/10YR

29-SEP-08

28-SEP-18 4,151.60

10.7500

94.9482

FXD 1/2009/10YR

27-SEP-09

15-APR-19 4,966.85

10.7500

96.1897

FXD 1/2010/10YR

26-APR-10

13-APR-20 19,394.15

8.7900

86.1135

FXD 2/2010/10YR

1-NOV-10

19-OCT-20 18,849.90

9.3070

91.4516

FXD 1/2012/10YR

25-JUN-12

13-JUN-22 16,803.75

12.7050

107.2197

13,504.70

FXD 1/2013/10YR

1-JUL-13

19-JUN-23 12,643.05

12.3710

FXD 1/2014/10YR

27-JAN-14

15-JAN-24 30,520.25

12.1800

12.4314

98.6677

100,000,000

FXD 1/2014/10YR

27-JAN-14

15-JAN-24 30,520.25

12.1800

12.5000

98.6677

200,000,000

FXD 1/2014/10YR

27-JAN-14

15-JAN-24 30,520.25

12.1800

12.4000

98.6677

300,000,000

FXD 1/2014/10YR

27-JAN-14

15-JAN-24 30,520.25

12.1800

12.3000

98.6677

300,000,000

25-SEP-06

11-SEP-17

13.7500

97.6357

FXD1/2006/12YR

28-AUG-06

13-AUG-18 3,900.95

14.0000

105.2139

FXD1/2007/12YR

28-MAY-07

13-MAY-19 4,864.60

13.0000

99.7383

ELEVEN YEAR BONDS

FXD1/2006/11YR

4,031.40

TWELVE YEAR BONDS

Corporate Bonds
MARCH 26TH, 2015

BONDS LISTED AT THE NAIROBI SECURITIES EXCHANGE

BONDS LISTED AT THE NAIROBI SECURITIES EXCHANGE

ISSUE
MATURITY
ISSUED VALUE
COUPON
DATE
DATE
IN MILLIONS
(%)

ISSUE NO.
CORPORATE BONDS
CENTUM BOND SENIOR UNSECURED FIXED RATE AND EQUITY LINKED NOTES
CTNB.BD.18.09.17/13.50
26-SEP-12
18-SEP-17
CTNB.BD.18.09.17/12.75
26-SEP-12
18-SEP-17
CONSOLIDATED BANK OF KENYA LTD MEDIUM TERM NOTE PROGRAMME
CON.BD-FXD(SN)/2012/7YR
30-JUL-12
24-JUL-19
CON.BD-FXD(SBN)/2012/7YR
30-JUL-12
22-JUL-19
CON.BD-FR(SN)/2012/7YR
30-JUL-12
22-JUL-19
SHELTER AFRIQUE MEDIUM TERM NOTES
FXD 2/2012/3YR
17-DEC-12
14-DEC-15
FXD 1/13/05YR
30-SEP-13
24-SEP-18
FR 1/13/05YR
30-SEP-13
24-SEP-18
BARCLAYS BANK MEDIUM TERM FLOATING RATE NOTES
FXD (MTN)/2008/7YR
14-JUL-08
14-JUL-15
FR (MTN)/2008/7YR
14-JUL-08
14-JUL-15
MRM
FR (MRM) 2008/8YR
27-OCT-08
17-OCT-16
FXD (MRM) 2008/8YR
27-OCT-08
17-OCT-16
CFC STANBIC BANK SENIOR & SUBORDINATED BOND ISSUE
FR (CFC STANBIC) 2009/7YR
7-JUL-09
7-JUL-16
FXD (CFC STANBIC) 2009/7YR
7-JUL-09
7-JUL-16
KENGEN PUBLIC INFRASTRUCTURE BOND OFFER 2019
FXIB 1/2009/10YR
2-NOV-09
31-OCT-19
SAFARICOM LTD DOMESTIC MEDIUM TERM NOTE
FR2 (SAFARICOM LTD) 2009/5YR
20-DEC-10
20-DEC-15
FXD2 (SAFARICOM LTD) 2009/5YR
20-DEC-10
20-DEC-15
FXD2 (SAFARICOM LTD) 2009/5YR
20-DEC-10
20-DEC-15
HOUSING FINANCE MEDIUM TERM NOTE
FXD (HFCK) 02/2012/7YR
22-OCT-12
14-OCT-19
FR (HFCK) 2010/7YR
26-OCT-10
2-OCT-17
FXD (HFCK) 2010/7YR
26-OCT-10
2-OCT-17
I&M MEDIUM TERM NOTE
FXD I&M-01/13/5.25
13-DEC-13
8-MAR-19
FRN I&M-01/13/5.25
13-DEC-13
8-MAR-19
BRITAM MEDIUM TERM NOTE
BRTB.BD.22/07/19-0037-13
22-JUL-14
15-JUL-19
UAP HOLDINGS MEDIUM TERM NOTE
UAP.BD.22.07.2019
28-JUL-14
22-JUL-19
NIC MEDIUM TERM NOTE
NIC.BD.09/09/19-0039-12.5
8-SEP-14
9-SEP-19
CIC INSURANCE GROUP LTDMEDIUM TERM NOTE
CIC.BD.22.07.2019
8-OCT-14
2-OCT-19
CFC STANBIC MULTICURRENCY MEDIUM TERM NOTE
CFCB.BD.08/12/21-0042-12.95
15-DEC-14
8-DEC-21
CBA FIXED MEDIUM TERM NOTE
CBAB.BD.14/12/20-0041-12.75
22-DEC-14
14-DEC-20

2,917.10
1,250.80

13.5000
12.7500

PREVIOUS
PRICE
(%)
105.2550
99.9620

1,480.60
196.50
1.00

13.2500
13.6000

500.00
4,239.70
760.30

12.7500
12.7500

100.7057

1,300
700

11.5000

99.4819
85.5534

621.50
1,378.50
97.91
2,402.09
15,625
200.00
4,287.00
4,287.00
2,969.10
1,166.50
5,864.40

13.0000
12.5000

99.1677
100.0000

98.9373
99.9804
100.0000
99.7458

12.5000

100.9405

8.0000
8.0000

93.8370
96.5610
96.5610

13.0000

101.6815

8.5000

99.9793

3,429.00
226.00

12.8000

101.8519

6,000.00

13.0000

98.9609

2,000.00

13.0000

99.9807

5,514.50
5,000.00

TOTAL
VALUE TRADED
(KSHS)

FXD1/2007/15YR

26-MAR-07

7-MAR-22 3,654.60

14.5000

109.0397

FXD2/2007/15YR

25-JUN-07

6-JUN-22

7,236.95

13.5000

108.2496

FXD3/2007/15YR

26-NOV-07

7-NOV-22

17,568.00

12.5000

99.9310

FXD1/2008/15YR

31-MAR-08

13-MAR-23 7,830.90

12.5000

100.6070

FXD1/2009/15YR

26-OCT-09

7-OCT-24

12.5000

102.7808

FXD1/2010/15YR

29-MAR-10

10-MAR-25 20,823.73

10.2500

86.5730

13.0000

5,080.00

12.9500

7,000.00

12.7500

101.0137
101.6957

100.5702

9,420.45

FXD2/2010/15YR

25-APR-11

8-DEC-25

13,513.10

9.0000

81.9916

FXD1/2012/15YR

24-SEP-12

6-SEP-27

21,089.45

11.0000

91.7296

FXD1/2013/15YR

25-FEB-13

7-FEB-28

40,886.33

11.2500

96.6990

FXD2/2013/15YR

29-APR-13

10-APR-28 17,385.85

12.0000

94.8430
112.6478

TWENTY YEAR BOND

FXD1/2008/20YR

30-JUN-08

5-JUN-28

20,360.95

13.7500

FXD1/2011/20YR

30-MAY-11

5-MAY-31

9,365.80

10.0000

FXD1/2012/20YR

26-NOV-12

1-NOV-32

43,082.72

12.0000

13.0855

91.5009

50,000,000

FXD1/2012/20YR

26-NOV-12

1-NOV-32

43,082.72

12.0000

13.0000

91.5009

100,000,000

FXD1/2012/20YR

26-NOV-12

1-NOV-32

43,082.72

12.0000

13.2000

91.5009

200,000,000

28-JUN-10

28-MAY-35 20,192.50

11.2500

91.8177

28-FEB-11

21-JAN-41 23,888.95

12.0000

91.0563
105.1593

79.8372

TWENTY FIVE YEAR BOND

FXD1/2010/25YR
THIRTY YEAR BOND
SDB 1/2011/30YR

12.5000

104.9016

FIFTEEN YEAR BONDS

INFRASTRUCTURE BONDS
IFB 1/2009/12YR

23-FEB-09

8-FEB-21

19,726.85

12.5000

IFB 2/2009/12YR

7-DEC-09

22-NOV-21 18,897.65

12.0000

102.4081

IFB 1/2010/8YR

1-MAR-10

19-FEB-18 15,908.05

9.7500

98.2874

IFB 2/2010/9YR

31-AUG-10

19-SEP-19 32,871.55

6.0000

88.4106

IFB 1/2011/12YR

3-OCT-11

18-SEP-23 43,447.35

12.0000

102.6218

IFB 1/2013/12YR

30-SEP-13

15-SEP-25 38,841.68

11.0000

99.6845

IFB 1/2014/12YR

27-OCT-14

12-OCT-26 35,060.55

11.0000

100.0059

Friday March 27, 2015 | BUSINESS DAILY

25

MARKET DATA
Global Markets & Currencies
Currencies

Europes Blue Chips

Kenya Shilling
CURRENCY
US DOLLAR
STG POUND
EURO
SA RAND
KES / USHS
KES / TSHS
KES / RWF
KES / BIF
AE DIRHAM
CAN $
S FRANC
JPY (100)
SW KRONER
NOR KRONER
DAN KRONER
IND RUPEE
HONGKONG DOLLAR
SINGAPORE DOLLAR
SAUDI RIYAL
CHINESE YUAN
AUSTRALIAN $

BUY
91.70
136.39
100.63
7.71
32.36
19.98
7.46
16.89
24.96
73.43
95.52
77.13
10.81
11.73
13.47
1.46
11.83
66.90
24.44
14.76
71.63

SELL
91.84
136.65
100.81
7.73
32.52
20.12
7.56
17.13
25.00
73.57
95.79
77.29
10.83
11.76
13.49
1.47
11.84
67.05
24.48
14.78
71.80

MEAN
91.77
136.52
100.72
7.72
32.44
20.05
7.51
17.01
24.98
73.50
95.66
77.21
10.82
11.74
13.48
1.46
11.84
66.97
24.46
14.77
71.72

US Dollar
BACKGROUND
EURO
JAPANESE YEN
BRITISH POUND
SWISS FRANC
AUSTRALIAN DOLLAR
CANADIAN DOLLAR
SWEDISH KRONA
NORWEGIAN KRONE
BOSNIAN MARK
DANISH KRONE
RUSSIA ROUBLE
TURKISH LIRA
ICELAND KRONA
INDIAN RUPEE
POLISH ZLOTY
CZECH KORUNA
HUNGARIAN FORINT
UKRAINE HRYVNIA
ISRAEL SHEKEL
ALBANIAN LEK
BULGARIAN LEV
SERBIAN DINAR
CYPRUS POUND
ESTONIAN KROON
GEORGIAN LARI
GIBRALTAR POUND
CROATIAN KUNA
KAZAKHSTAN TENGE
LITHUANIA LITAS
LATVIAN LATS
MOLDOVAN LEU
MACEDONIA DENAR
MALTESE LIRA
ROMANIAN LEU
SLOVAK KORUNA
SERBIAN DINAR
ARMENIAN DRAM
UAE DIRHAM
ANGOLAN KWANZA
BURUNDI FRANC
BOTSWANA PULA
CONGO FRANC
CAPE VERDE ESCUDO
CHINESE YUAN
DIJIBOUTI FRANC
ALGERIAN DINAR
EGYPT POUND
ETHIOPIAN BIRR
GHANAIAN CEDI
GAMBIAN DALASI
ERITREA NAFKA
GUINEA FRANC
RWANDA FRANC
KENYA SHILLING
COMORO FRANC
LIBERIAN DOLLAR
LESOTHO LOTI
LIBYAN DINAR
MOROCCAN DIRHAM
MALAGASY ARIARY
MAURITANIAOUGUIYA
MALAWI KWACHA
MOZAMBIQUE METICAL
NIGERIAN NAIRA
SC RUPEE
SUDANESE DINAR
SUDAN POUND
ST HELENA POUND
SIERRALEONLEON
SAO TOME DOBRA
SOMALI SHILLING
SWAZILAND LILAGENI
THAI BAHT
TUNISIAN DINAR
TANZANIA SHILLING
UGANDA SHILLING
CFA FRANC
CFA FRANC
MAURITIUS RUPEE
SOUTH AFRICA RAND
ZIMBABWE DOLLAR

BID
1.10
118.62
1.49
0.95
0.79
1.24
8.45
7.77
1.75
6.78
56.63
2.60
134.49
62.68
3.71
24.87
271.81
23.25
3.95
127.23
1.77
59.99
0.40
11.70
2.21
1.49
6.94
185.99
2.85
0.51
18.46
55.61
3.41
4.01
21.55
109.58
469.75
3.67
107.18
1,534.90
0.10
913.00
100.01
6.21
177.00
95.80
7.63
20.32
3.73
42.60
15.00
7,000.01
685.00
91.95
462.50
84.00
11.88
1.37
9.76
2,980.00
311.00
433.00
35.70
199.00
13.10
200.02
2,025.50
1.54
4,305.00
21,567.00
704.00
11.87
32.52
1.93
1,837.00
2,978.00
597.85
603.50
36.40
11.89
378.00

ASK
1.10
118.67
1.49
0.95
0.79
1.24
8.45
7.77
1.80
6.78
56.72
2.60
134.78
62.69
3.71
24.92
272.21
23.55
3.95
127.55
1.78
60.19
0.40
11.71
2.23
1.49
6.94
186.04
2.85
0.51
18.56
56.17
3.42
4.02
21.60
109.97
474.00
3.67
108.25
1,584.90
0.10
943.00
6.21
178.00
96.32
7.63
20.52
3.75
43.60
15.50
7,500.01
696.00
92.05
463.50
85.00
11.90
1.37
9.80
3,080.00
319.00
450.00
36.41
199.10
14.05
201.02
2,035.60
1.54
4,405.00
22,903.00
711.00
11.92
32.54
1.93
1,847.00
2,988.00
604.85
611.00
36.60
11.90
381.00

FTSE 100

Based on one day performance in local currency

% PERFORMANCE IN LOCAL CURRENCY
COMPANY

COUNTRY

INDUSTRY

LAST

ROYAL DUTCH SHELL A

UNITED KINGDOM

INTEGRATED OIL&GAS

2096.50 18.00

NATIONAL GRID

UNITED KINGDOM

MULTIUTILITIES

894.60

GLENCORE PLC

UNITED KINGDOM

GENERAL MINING

302.05

PRUDENTIAL

UNITED KINGDOM

LLOYDS BANKING GROUP PLC

CHG % CHG

1-WK

YTD

52-WK

0.87

1.57

-2.60

-3.70

2.70

0.30

0.61

-2.60

9.30

0.70

0.23

0.92

1.10

-3.19

LIFE INSURANCE

1742.00 -1.50

-0.09

-0.31

16.80

30.83

UNITED KINGDOM

BANKS

80.50

-0.09

-0.11

-0.16

6.20

1.76

ZURICH INSURANCE GROUP

SWITZERLAND

FULL LINE INSURANCE

332.10

-0.80

-0.24

0.03

6.50

23.32

ALLIANZ SE

GERMANY

FULL LINE INSURANCE

161.35

-0.55

-0.34

-0.25

17.50

30.33

BHP BILLITON

UNITED KINGDOM

GENERAL MINING

1585.00 -6.00

-0.38

2.99

14.20

-14.02

UBS GROUP

SWITZERLAND

BANKS

18.32

-0.08

-0.43

...

7.20

2.12

AXA

FRANCE

FULL LINE INSURANCE

23.56

-0.12

-0.49

-1.13

22.70

24.86

DEUTSCHE TELEKOM

GERMANY

MOBILE TELECOMMUNICATIONS

17.07

-0.09

-0.55

0.50

28.80

48.37

BRITISH AMERICAN TOBACCO

UNITED KINGDOM

TOBACCO

3639.50 -24.50

-0.67

-0.48

4.00

11.97

ABB

SWITZERLAND

INDUSTRIAL MACHINERY

20.68

-0.14

-0.67

-1.10

DIAGEO

UNITED KINGDOM

DISTILLERS&VINTNERS

1923.50 -14.00

-0.72

-0.03

4.10

3.94

CREDIT SUISSE GROUP AG

SWITZERLAND

BANKS

25.71

-0.19

-0.73

-0.35

2.50

-5.89

BANCO BILBAO VIZCAYA ARGN SPAIN

BANKS

9.49

-0.07

-0.75

1.28

20.80

13.72

GLAXOSMITHKLINE

UNITED KINGDOM

PHARMACEUTICALS

1595.50 -12.50

-0.78

-2.42

16.00

-1.63

RECKITT BENCKISER GRP

UNITED KINGDOM

NONDURABLE HOUSEHOLD PRODUCTS

5893.00-48.00

-0.81

-1.12

13.10

20.88

TOTAL

FRANCE

INTEGRATED OIL&GAS

46.51

-0.38

-0.81

-2.37

9.40

-0.63

TELEFONICA S.A.

SPAIN

FIXED LINE TELECOMMUNICATIONS

13.53

-0.12

-0.84

0.52

13.50

23.01

ANHEUSER-BUSCH INBEV

BELGIUM

BREWERS

111.70

-0.95

-0.84

-1.89

19.00

50.19

UNILEVER

UNITED KINGDOM

FOOD PRODUCTS

2880.00 -27.00

-0.93

-0.69

9.60

16.65

ENI

ITALY

INTEGRATED OIL&GAS

15.99

-0.15

-0.93

-1.60

10.20

-10.92

DAIMLER

GERMANY

AUTOMOBILES

87.60

-0.83

-0.94

-4.27

27.00

30.14

ROCHE HOLDING PART. CERT.

SWITZERLAND

PHARMACEUTICALS

268.80

-2.70

-0.99

-2.22

-0.40

1.17

BANCO SANTANDER S.A.

SPAIN

BANKS

6.86

-0.08

-1.10

0.91

-0.90

9.52

LAIR LIQUIDE

FRANCE

COMMODITY CHEMICALS

120.40

-1.40

-1.15

-1.15

17.10

23.02

VODAFONE GROUP

UNITED KINGDOM

MOBILE TELECOMMUNICATIONS

224.25

-2.70

-1.19

-1.75

0.70

0.65

SIEMENS

GERMANY

DIVERSIFIED INDUSTRIALS

99.94

-1.26

-1.25

-0.71

6.60

2.31

ASTRAZENECA

UNITED KINGDOM

PHARMACEUTICALS

4761.50 -70.50

-1.46

-1.76

4.50

22.34

STANDARD CHARTERED

UNITED KINGDOM

BANKS

1103.50 -16.50

-1.47

2.99

14.60

-9.62

NESTLE

SWITZERLAND

FOOD PRODUCTS

74.00

-1.15

-1.53

-3.27

1.40

12.38

BAYER

GERMANY

SPECIALTY CHEMICALS

140.35

-2.20

-1.54

-2.50

24.20

43.73

NOVARTIS AG

SWITZERLAND

PHARMACEUTICALS

96.75

-1.55

-1.58

-2.96

4.80

34.28

FINANCIERE RICHEMONT

SWITZERLAND

CLOTHING&ACCESSORIES

80.95

-1.30

-1.58

-3.69

-8.80

-1.46

BNP PARIBAS

FRANCE

BANKS

54.85

-0.95

-1.70

1.61

11.30

-3.55

LVMH MOET HENNESSY

FRANCE

CLOTHING&ACCESSORIES

163.60

-2.85

-1.71

-3.34

23.70

38.26

UNILEVER CVA

NETHERLANDS

FOOD PRODUCTS

39.03

-0.72

-1.81

-1.97

19.60

35.54

DEUTSCHE BANK

GERMANY

BANKS

31.91

-0.59

-1.82

0.82

27.70

-0.75

BASF

GERMANY

COMMODITY CHEMICALS

90.92

-1.76

-1.90

-1.53

30.10

15.40

-5.79

Global Indices
NAME

LOCATION

LAST

NET.CHNGPCT.CHNG

OPEN

HIGH

LOW

CLOSE

DJ INDU AVERAGE

NEW YORK

17,718.54

-292.60

-1.62%

18,012.61

18,041.97

17,718.54

18,011.14

FTSE EUROTOP 100

LONDON

3,142.07

-36.22

-1.14%

3,176.98

3,176.98

3,125.14

3,178.29

XETRA DAX PF/D

FRANKFURT

11,670.88

-194.44

-1.64%

11,736.34

11,737.41

11,619.72

11,865.32

CAC 40 INDEX/D

PARIS

4,947.16

-73.83

-1.47%

4,992.55

4,999.23

4,932.53

5,020.99

FTSE MIB/D

MILAN

22,807.04

-338.06

-1.46%

22,993.40

23,062.98

22,689.32

23,145.10

SMI PR/D

SWITZERLAND 9,033.94

-154.31

-1.68%

9,139.19

9,140.04

8,995.38

9,188.25

HANG SENG INDE/D

HONG KONG

24,497.08

-31.15

-0.13%

24,442.51

24,592.01

NIKKEI 225 INDEX

TOKYO

19,471.12

-275.08

-1.39%

19,605.60

19,623.11

19,397.01

ALL ORDINARIES

AUSTRALIA

5,849.73

-87.36

-1.47%

5,937.10

5,937.10

5,849.70

5,937.09

STRAITS TIMES/D

SINGAPORE

3,431.59

12.57

0.37%

3,412.15

3,439.15

3,406.75

3,419.02

SSE COMPOSITE/D

SHANGHAI

3,682.42

21.69

0.59%

3,641.94

3,707.32

3,615.01

3,660.73

S&P SENSEX/D

MUMBAI

27,457.58

-654.25

-2.33%

27,937.62

27,997.14

27,384.87

28,111.83

24,399.84 24,528.23
19,746.20

NAME
ANGLO AMERICAN/D
ASSOC.BR.FOODS/D
ADMIRAL GROUP/D
ABDN.ASSET.MAN/D
AGGREKO/D
ANTOFAGASTA/D
ARM HOLDINGS/D
ASHMORE/D
AVIVA PLC/D
ASTRAZENECA/D
BAE SYSTEMS/D
BARCLAYS/D
BRIT AM TOBACC/D
BG GROUP/D
BR LAND CO/D
BHP BILLITON/D
BUNZL/D
BP/D
BURBERRY GRP/D
BT GROUP/D
CARNIVAL/D
CENTRICA/D
COMPASS GROUP/D
CAPITA PLC/D
CRODA INTL/D
CRH/D
DIAGEO/D
MAN GROUP/D
EVRAZ PLC/D
EXPERIAN/D
FRESNILLO/D
G4S/D
GKN/D
GLENCORE/D
GLAXOSMITHKLIN/D
HAMMERSON/D
HARGREAVES LS/D
HSBC HOLDINGS/D
ICAP PLC/D
IAG/D
INTERCONT HOTE/D
IMI PLC/D
IMPERIAL TOBAC/D
INTERTEK GROUP/D
ITV/D
JOHNSON MATTHE/D
KAZ MINERALS/D
KINGFISHER/D
LAND SECS GROU/D
LEGAL & GENERA/D
LLOYDS BNK GRP/D
MEGGITT PLC/D
MARKS & SP./D
MORRISON SUPMK/D
NATIONAL GRID/D
NEXT/D
OLD MUTUAL/D
PETROFAC/D
POLYMETAL INT/D
PRUDENTIAL/D
PEARSON/D
RECKIT BNCSR G/D
ROYAL BANK SCO/D
ROYAL DTCH SHL/D
REED ELSEVIER/D
ROYAL DTCH SHL/D
REXAM/D
RIO TINTO/D
ROLLS ROYCE PL/D
RANDGOLD RES./D
RSA INSRANCE G/D
SABMILLER/D
SAINSBURY(J)/D
SCHRODERS/D
SCHRODERS NV/D
SAGE GROUP/D
SHIRE/D
STANDARD LIFE/D
SMITHS GROUP/D
SMITH&NEPHEW/D
SERCO GROUP/D
SSE PLC/D
STANDRD CHART /D
SEVERN TRENT/D
TATE & LYLE/D
TULLOW OIL/D
TESCO/D
UNILEVER/D
UNITED UTIL GR/D
VEDANTA RES/D
VODAFONE GROUP/D
WEIR GROUP/D
WOLSELEY/D
WPP PLC/D
WHITBREAD/D
KENYA AIRWAYS/D

LAST
1104.00
2860.10
1515.00
465.60
1558.00
728.50
1078.75
301.40
551.18
4703.00
535.65
248.70
3578.50
904.00
841.50
1573.50
1821.00
451.85
1772.00
461.38
2991.00
262.30
1163.00
1167.00
2714.00
1784.00
1897.00
200.80
189.80
1134.00
730.49
292.50
363.80
301.75
1580.50
670.00
1166.00
581.83
531.00
580.83
2566.00
1309.90
3080.00
2497.00
251.10
3385.00
221.60
357.70
1258.00
282.87
79.44
561.00
528.20
203.10
887.90
7090.00
227.60
1013.00
572.50
1677.50
1475.35
5832.00
348.49
2094.50
1152.00
2198.00
575.50
2922.00
969.50
4977.00
427.20
3569.00
266.10
3198.00
2451.00
460.40
5270.00
475.20
1189.00
1132.25
180.10
1561.25
1102.50
2084.00
598.00
318.90
237.65
2836.00
945.50
572.67
223.70
1805.00
3980.00
1531.00
5170.63
9.00

CLOSE
1104.50
2911.00
1545.00
474.70
1566.00
728.50
1127.00
300.60
564.00
4761.50
541.50
251.90
3639.50
895.70
866.50
1585.00
1845.00
448.35
1824.00
470.55
3045.00
260.20
1186.00
1180.00
2780.00
1817.00
1923.50
208.50
193.50
1141.00
711.00
297.00
370.00
302.05
1595.50
683.00
1207.00
583.50
541.00
607.50
2595.00
1326.00
3158.00
2512.00
256.60
3425.00
217.40
364.30
1273.00
291.00
80.50
562.50
539.50
204.30
894.60
7225.00
233.30
988.00
569.00
1742.00
1498.00
5893.00
352.30
2096.50
1170.00
2200.50
582.50
2926.00
981.00
4882.00
437.20
3645.00
268.20
3343.00
2575.00
468.50
5400.00
479.90
1212.00
1162.00
181.80
1563.00
1103.50
2090.00
600.00
315.80
239.35
2880.00
958.00
557.00
224.25
1768.00
4065.00
1566.00
5305.00
8.60

NET.CHNG
-0.50
-50.00
-30.00
-9.10
-8.00
0.00
-49.00
0.80
-13.00
-58.50
-5.50
-3.20
-61.00
6.80
-25.00
-11.50
-24.00
3.50
-52.00
-9.15
-54.00
2.10
-23.00
-13.00
-66.00
-33.00
-26.50
-7.70
-3.70
-7.00
18.50
-4.50
-6.20
-0.30
-15.00
-13.00
-41.00
-1.70
-10.00
-27.00
-29.00
-16.00
-78.00
-14.00
-5.50
-40.00
4.20
-6.60
-15.00
-8.10
-1.06
-1.50
-11.50
-1.20
-6.70
-135.00
-5.70
25.00
3.50
-64.50
-23.00
-61.00
-3.90
-2.00
-18.00
-2.00
-7.00
-4.00
-11.50
95.00
-10.00
-76.00
-2.10
-145.00
-124.00
-8.20
-130.00
-4.70
-23.00
-30.00
-1.70
-1.00
-1.00
-6.00
-2.00
3.40
-1.70
-44.00
-12.50
16.50
-0.55
37.00
-85.00
-35.00
-135.00
0.40

PCT.CHNG
-0.05%
-1.72%
-1.94%
-1.92%
-0.51%
0.00%
-4.35%
0.27%
-2.30%
-1.23%
-1.02%
-1.27%
-1.68%
0.76%
-2.89%
-0.73%
-1.30%
0.78%
-2.85%
-1.94%
-1.77%
0.81%
-1.94%
-1.10%
-2.37%
-1.82%
-1.38%
-3.69%
-1.91%
-0.61%
2.60%
-1.52%
-1.68%
-0.10%
-0.94%
-1.90%
-3.40%
-0.29%
-1.85%
-4.44%
-1.12%
-1.21%
-2.47%
-0.56%
-2.14%
-1.17%
1.93%
-1.81%
-1.18%
-2.78%
-1.32%
-0.27%
-2.13%
-0.59%
-0.75%
-1.87%
-2.44%
2.53%
0.62%
-3.70%
-1.54%
-1.04%
-1.11%
-0.10%
-1.54%
-0.09%
-1.20%
-0.14%
-1.17%
1.95%
-2.29%
-2.09%
-0.78%
-4.34%
-4.82%
-1.75%
-2.41%
-0.98%
-1.90%
-2.58%
-0.94%
-0.06%
-0.09%
-0.29%
-0.33%
1.08%
-0.71%
-1.53%
-1.30%
2.96%
-0.25%
2.09%
-2.09%
-2.23%
-2.54%
4.65%

26

BUSINESS DAILY | Friday March 27, 2015

The

OBITUARY
Singapoes Lee
legacy of contol and
pogess
Page 29

GOLF
Golfes ente busy
stetch
Page 31

Featues | Viewpoints | Poles | Analysis

In the Headlines

Rape allegations toss

Imenti Cental MP to
edge of political pyamid
PROFILE Gideon Mwiti under police investigations, declines

one-on-one interview, threatens legal action against journalists

BY SIMON CIURI

Gideon Mwiti. ILLUSTRATION BY STANSLAUS MANTHI

t has been a long week for Imenti Central

MP Gideon Mwiti. Until rape allegations
were slapped on him, Mr Mwiti had remained a low-key legislator contented with
running his businesses and making a few
speeches in Parliament.
The rape allegations story had absorbing ingredients: A 55-year-old MP raping
a twenty-something journalist, a doctor
forcefully administering HIV test at
night, and a victim in hospital.
This will be so much for a man who
was awarded a Honorary Doctorate
Degree by United Graduate College &
Seminary (USA) an obscure US college that has been giving away honorary
doctorates to Kenyans.
When he emerged from Gigiri Police
Station, as the story was picked by mainstream media and after six hours of grilling,
the clean-shaven Mwiti tried to cut a macholike image, his hands hanging loosely on either
side of his body and exuding some pseudocondence.
As a politician and businessman, he knew
when the chips were down. This week, he
was oundering and his tormentors were
circling.
Born in December 1960, the
APK Member of Parliament has
been a controversial gure and was
in 2003 found to have attempted to
use the Bankruptcy Act to defraud
a creditor.
In that case, Justice Jesse
Lessit said she was satised
that (Mwiti) had led the
instant Bankruptcy Petition in order to defraud
the creditor, and to
avoid meeting his
liabilities and is,

therefore, undeserving of the protection provided for under the Bankruptcy Act.
Mr Mwiti, who runs a bar in Westlands,
did not wish to disclose other businesses. It
is after drinks that he is alleged to have sexually attacked the media consultant at a private oce.
When Business Daily reached him for an
interview, Mr Mwiti sounded charged. He was
unhappy with the negative coverage and was
in a hurry, saying he is a busy man and has
no time for reporters and threatening legal
actions against some.
Mr Mwiti atly refused a one-on-one interview.
You people have written that a red-carpet
was rolled out for me by investigating ocers
and that I am being driven around in a convoy of police vehicles. Where is the problem
if that happened? Even the President drives
around with a convoy of vehicles, he said
in reference to a Daily Nation story that revealed that Mr Mwiti was not in custody as
had been reported.
Mr Mwiti rst came to the national limelight at the height of the pyramid scheme crisis when ocers of the Central Bank raided
the Kenya Akiba Micro Finance Ltd oces in
Nairobi, Kitengela, and Voi and accused the
company of carrying out banking business
and using the word Finance without the
approval of the Finance minister.
Mr Mwiti had in his adavit told the court
that he was running a hire purchase business. While a High Court Judge had ordered
CBK to pay the company close to Sh1 billion
for wrongful closure, the Court of Appeal set
aside the ruling in November 2013.
In 2013, Mr Mwiti, a former Meru School
student, was charged with inducing by deceit
and trickery, 12 investors to put money in the
Kenya Business Community Sacco that went
down with Sh780 million in 2008 following a
government purge on illegal banking institutions. He was acquitted in the same year with
the magistrate accusing investigators of leaving loose ends in their probe.
Nowhere does his name appear as an
ocial, a member or a shareholder, said the
magistrate wondering why the prosecution
did not call the sacco ocials who would
have perhaps alleged that the accused was
acting behind cover.
The complainants also told the court that
they had never seen Mr Mwiti at the sacco
oces during their numerous visits. In the
event, the court cannot convict him on heresy
and forthrightly acquits him of all 12 counts
unless proven otherwise.
Mr Mwiti would later disown the said
companies that were allegedly used to re-

Gideon Mwiti
Gideon Mwiti, 55, is a rst-time MP who
until the allegations surfaced quietly ran his
businesses, inlcuding a bar in Westlands.
He has a honorary doctorate from United
Graduate College and Seminary of the US.
The APK Member of Parliament who won
the race by 16,000 votes, was in 2003 found to
have attempted to use the Bankruptcy Act to
defraud a creditor.
Going by the alias, Livondo, the legislator is
seen as the Mr Moneybags of his area.
He is facing one of the toughest legal actions
in the rape accusations that have attracted
attention from far and wide.

ceive the money.

While he did not deny knowledge of Kenya
Business Community Sacco which the government shut down for illegal banking, Mr Mwiti
said his role was purely consultancy.
I was a businessman in Nairobi in 2004
running a company called Kenya Akiba Micro-Finance Limited, I was only consulted
on regulatory by-laws being a lobbyist for
a law seeking to regulate micronance, he
told the court.
Whatever his involvement, Mr Mwitis
name became part of the Ponzi schemes and
Parliament was told as much. But Mr Mwiti
has denied being part of the pyramid schemes,
which squirrelled away millions of shillings
from unsuspecting people.
A rst time MP, Mr Mwiti beat ve other
candidates and polled 16,000 votes against his
Narc-K rival, Geofrey Muriuki who received
13,000 votes.

Mr Moneybags
On his Facebook account, Mr Mwiti strikes
the pose of a community leader organising his
constituents to engage in business. Whether
participating in Marathon or starting the
Central Imenti Youth Empowerment, he is
seen as the local Mr Moneybags.
He is nicknamed Livondo and last year,
he ew eight teachers to a Mombasa conference to motivate them and would candidly
ask his constituents: Are you satised with
service delivery at our CDF oces and the
Constituency Oce? Are there aspects that
can be improved?
Whether this openness masks the real Mr
Mwiti will soon be known. But as he begins
his second week struggling to overcome the
rape accusation, the MP is at the tip of a political pyramid. Will he survive?
sciuri@ke.nationmedia.com

Friday March 27, 2015 | BUSINESS DAILY

Featues | Viewpoints | Poles | Analysis

27

THE WEEKENDER

Man About Town

The touble of getting

new woke at my shop
SPORTS DAY I re my cousin after realising she stays

away from the business to entertain her boyfriend

have taken some time o, and I am really enjoying myself. Yesterday, I attended Maingis
Sports Day at school. Shiro could not get a
day o from the oce so I had to step in.
I was amused at the seriousness with which
these kindergartens take the Sports Day. We had
gotten a whole list of the dos and donts for our children to ensure that they do not sustain injuries or
get sick during the Day and most of all they were
asked to wear a sports kit and to keep time.
On the material day, decked in my track suit, we
reported to school at 7.30am to a fun-lled event.
There were so many races and so many events and
I was excited that Maingi came rst in three of the
races it is clear my son has inherited my sports
gene. I did not do as well as my son in the fathers
running race since I came in last I must go back
to the gym soonest to stop embarrassment.
After I had dropped my tired son home, I decided to go to my side business. My shop oers
everything from photocopying to M-Pesa services
mainly to college students nearby. Every month, I
get about Sh90,000 net prot but something tells
me we could be doing so much better hence my

unannounced visit to the shop. When I got to the

shop, I was shocked to nd it closed. I decided to
sit in a caf opposite the shop and monitor the
customers who would show up in the absence of
the shop attendant who also happens to be my
cousin. I was there for one hour and within that
time more than 20 customers came to the shop
only to nd it locked.

Blood boiling
Since this visit had been unplanned, I had forgotten to carry my set of keys so that I could open the
shop and serve the customer. By 2pm, I called
Josephine, my cousin, who conveniently opted
not to pick my calls. I decided to ask the attendant of a neighbouring shop, When does this shop
usually open?
He chuckled, saying most of the time she opens
at 9am and then leaves at midday and comes back
at 4pm for an hour! This had my blood boiling!
I decided to go home, pick up the shop keys and
return.
In about half an hour, I was back at the shop
and ready to serve the customers who were com-

Quotable quotes

It does not bother me at all. We dont need MPs to

win any elections. Dogs are known to bark close to
where the owner is. I want to ask the owner to put
them back in the kennels, where they belong.
BOMET GOVERNOT ISAAC RUTO DISMISSING LAWMAKERS ACCUSING HIM OF UNDERMINING
DEPUTY PRESIDENT WILLIAM RUTO.

ing in. At 4pm, my cousin waltzed into the shop

in the company of a tall man.
She was in total shock to see me. Josee! she
started. What are you doing here? Before I could
respond, two customers walked in and asked that
we talk later.
We did not get a chance to speak because
between 4pm and 6pm, we had a steady ow of
customers. So at 6pm, I closed the door and told
Josephine, Please give me the shop keys. She
started crying, oering to explain. It is not what
you think. I had an emergency to deal with.

If the
speaker
has done
anything
wrong, we
are worse
than him.
We should
take our
cross instead
of crucifying
him.
FLORENCE KAJUJU,
MERU WOMEN
REPRESENTATIVE,
DEFENDING HOUSE
SPEAKER JUSTIN
MUTURI WHO WAS
FACING A CENSURE
MOTION IN PARLIAMENT.

I was livid but opted to keep my cool, telling her

it does not matter what I think, it is very clear you
do not value your job. So please leave my premises
now. She continued crying as she got down on her
knees. Please have mercy! This will not happen
again, she pleaded.
I was having none of this and just ensured she
left and I got into my car and then headed home.
Just before I got home, I decided to get into a local pub and have a few drinks to ease the stress
of having to re my cousin and of not knowing
where to get a replacement employee.

28

BUSINESS DAILY | Friday March 27, 2015

Featues | Reviews | Poles | Analysis

THE WEEKENDER

Theatre

Poet nds something

to laugh about in land
and election chaos
POETRY Sitawa Namwalie, a former award-winning

tennis star weaves stories from political subjects

BY MARGARETTA WA GACHERU

itawa Namwalie has been on a fast track

ever since she had an epiphany and realised she was a poet with a lot to share.
It was Muthoni Garland, a fellow writer
and the publisher of Storymoja, who thereafter inspired her to combine her poetry with
performance. Not long after that, Cut O My
Tongue was born, rst as an awesome collection of her poems, then as a performance that
went all the way from the Nairobi and RaMoMa museums to UKs Hay Festival.
And since then the former award-winning
tennis star has gone from strength to strength,
continually writing, experimenting with words
and big ideas and then dramatising them in
various forms and stage shows, the latest of
which she performed last Saturday afternoon
at an intimate new arts space, called Scandinavian Vintage Furniture in Kilileshwa.
The Journey So Far, unlike her previous
shows, was essentially a solo aair although
she shared the space with a utist and guitarist, Abbi Nyizi and Claus Seest (SVF sta
and founder) who occasionally added appropriate sound eects. It was an intimate performance with Sitawa animated and alive to
all the expressive implications of her words
and ideas.
Like her earlier performances, Sitawas poetry blends sassy political satire and subtle
sarcasm with searing honesty, penetrating
insight and charming humour that belies
the seriousness of her vision and potency of
her message.
A lot of her poetry has to do with identity,
especially as a poet, but also as a Kenyan who

somehow speaks for a multitude of fellow citizens when she claims Land is Kenyans addiction and that the citizens have a xation
on names.
She dares to speak boldly about sensitive
Gathoni Waweru,
topics like tribe and the 2007 election and the
Natasha Wanjau,
subsequent post-election violence. But then Humphery Maina,
she also has fun with locals fascination with Bilal Wanjau in the
mitumba (second hand clothes) and shopping play Madam, Madam
in popular spots like Toy Market in Kibera. where are you Madam.
MARGARETTA WA GACHERU
She clearly had the most fun telling her
Toy Market tale. But then her nale piece
was the most interactive and engaging as
she transformed her audience into her chorus chiming in on cue: We leave our house
to go home referring of course to urbanised
Kenyans supposed linkage to the land of our
grandmothers and gukas.
Meanwhile, Sammy Mwangi and Heartstrings Kenya certainly werent the rst theatre people to understand the tremendous comedic power of a man dressing up as a woman
and playing a she on stage.
Some might say Tyler Perrys Madea was

Sitawa Namwalie
performs, The
Journey So Far
at Scanindavian
Vintage Furniture.
MARGARETTA WA GACHERU

rst, but that ignores the British tradition of pantomime that has to have a
man dressed in drag or the show isnt
real panto.
And long before that men played women in Shakespeares day and of course,
Greek theatre rarely had women cast
members.
But even if Bilal Wanjau (as Bobby)
playing Madam Zarah Farouk in Madam
Madam Where are you?, madam isnt the
rst guy to get a laugh while wearing a wig
and womans dress, hes still hilarious even
before he upstages the real Zarah Farouk
(Lucy Njoroge) who arrives late on the
scene and gets mistaken for a nobody.
The real Auntie Zarah is said to be
worth millions (supposedly owner of the
Kempinski Hotel) and is coming specially from Dubai to give her impoverished
nephew Charlie (Lawrence Murage) his
inheritance of Sh20 million.
Its a complicated story, especially as
Charlies receipt of the cash is conditional
on his being 21 (which he is) and married,
which he is not.
But all the details unravel in Heartstrings typically hilarious style, interweaving heaps of timely local references
that tickle audiences funny bone and
telling a story that reveals some of the
cunning survival tactics that poor people
employ just to make do.
Theres Bobby aka Zarah stealthily stealing his buddies booze, Charlie

Humphery Maina proposing to madam

(Bilal Wanjau) in Madam, madam, Where
are you Madam? MARGARETTA WA GACHERU
budgeting for food for his guests with only
pennies in hand and roommates Charlie
and Jack tossing a coin to see who gets
the room when both have girlfriends they
want to entertain.
Madam may not be making a profound
political or social statement but its pithy,
witty and poignant all the same.
Its also aspirational in that many people dream of winning millions overnight.
In that sense, Madam could be said to be
escapist, but Heartstrings fans dont really care if its not politically correct.
Their shows still mirror so much of
the ways ordinary Kenyan urbanites
survive, which is why audiences consistently come out in droves and why actors
like Wanjau can easily shift from Phoenix
Players to Heartstrings without thinking
twice about it.

Mothe tongue debate featues as Goethe hosts authos

BY MWIKALI LATI

The second edition of Goethe Instituts

Conversation with African Authors,
has been held.
It featured Ciku Kimeria and
Ndiritu Wahome, who were presenting their debut books; a novel,
Of Goats and Poisoned Oranges and
short stories collection The Sad Artist and Other Fairytales respectively.
Khainga OOkwemba, the president

of Pen Kenya Centre, moderated the

discussion.
We like to support less established
writers to market their work and interact with the readers, said Eliphas
Nyamogo, the head of information
and library department of Goethe
Institut. There are a few book discussions or launches in the local literary
scene, he said.
The two authors talked about inspiration, importance of language, style

and the subject matter. I am driven by

an idea, said Wahome. Kimeria wrote
four pages and shared with friends
who told her that it was a short story,
it was a novel in the making.
A good written piece is the language, the mastery of the English
language and the freedom to use
mother-tongue where necessary, the
latter the subject of an old debate between two of Africas biggest literary
giants, the late Chinua Achebe who

advocated for English while Ngugi Wa

Thiongo for mother-tongue.
Citing her favourite writer Chimamanda Ngozi Adichie on the dangers of the single African story, the
focus on particular themes like Aids,
poverty, war and so on, Kimeria said
there is a need to diversify in story
and language.
We should not say this is the
language to use, I think that limits
creativity.

Wahome explained magic realism,

but the audience still wanted to know
the dierence between it and sciencection and fantasy.
The story has to be believable and
yet unpredictable, he said.
Reading is the only way to get better at writing, taking in well-written
material that will go to the subconscious and come back in a new form.
You need to be free spirits to be
creative said Kimeria.

Friday March 27, 2015 | BUSINESS DAILY

Featues | Viewpoints | Poles | Analysis

THE WEEKENDER

Obituay

Lees legacy seen in vibant

but contolled Singapoe
LEGACY Lee died on Monday aged 91
Lee Kuan Yew, a towering gure in postcolonial Asia, oversaw tiny Singapores
transformation from British tropical
outpost to an auent, global city in just
over a generation, setting the example
for developing economies from China
to Dubai.
He retained English as Singapores
working language as a means of keeping the peace between the islands Chinese majority and Malay and Indian
minorities and focused very early on in
making clean and green Singapore,
which turns 50 this year, one of Asias
most liveable and corruption-free
countries.
The Cambridge-educated lawyer
had little tolerance for opposition
views, however, despite the facade of a
Westminster-style democracy that gave
every adult Singaporean the vote.
The Peoples Action Party (PAP), cofounded by Lee, has ruled Singapore
since six years before independence,
and while it has propelled the city-state
into a gleaming nancial hub, it has
also been criticised for heavy-handed
government with little tolerance of
dissent.
Under Lee, a huge fan of late
former British Prime Minister Margaret Thatcher, political opposition
and independent media were not allowed to ourish in the same way as the
economy, a state of aairs that persists
to this day. Singapore placed 153 out of
180 countries in the latest World Press
Freedom Index.
His stern approach included caning
for many oences and the death penalty for murder and drug tracking.
Lawsuits against political opponents
and media organisations were a Lee
hallmark.
Lee stepped down as prime minister
in 1990, handing power to Goh Chok
Tong, but remaining inuential as senior minister in Gohs cabinet and subsequently as minister mentor when his
eldest son, Lee Hsien Loong, became
prime minister in 2004.
The elder Lee resigned from his cabinet position in 2011 after the PAP suffered its worst electoral showing since
independence in 1965.
With characteristic bluntness,
he summed up his own legacy in the
book Hard Truths to Keep Singapore
Going, published in 2011, just before
the election.
Its irrelevant to me what young
Singaporeans think of me, he said.

Ive lived long enough to know that

you may be idealised in life and reviled
after youre dead.
Diane Mauzy, professor of political
science at the University of British Columbia, said Lees enduring legacy was
his tough stance on corruption an endemic problem in many of Singapores
neighbours.

Real rarity
(He is) a real rarity in the developing
world and developed too - that has
seen public nances and resources
squandered by corrupt elites, she
said. Despite that toughness, he had
to ght to hold back tears when Malaysia decided to oust Singapore from
their federation in 1965, two years after
it had joined.
For me it is a moment of anguish because all my life, he told a press conference, pausing as his voice broke down.
You see, the whole of my adult life ... I
have believed in merger and the unity of
these two territories. You know that we,
as a people, are connected by geography,
economics and ties of kinship.
However, Singapore, on its own, became a huge success as Lee and the PAP
welcomed foreign multinationals whose
investments and expertise helped turn
Singapore into a major exporter, which
drew praise from major international
powers, including China.
Former Chinese paramount leader
Deng Xiaoping singled out the city-

Lee Kuan Yew. He did not tolerate corruption. AFP

states strong social order and strict

controls for special mention when he
kickstarted reforms in 1992.
Singapore, which regularly tops the
rankings as the best place in the world
to do business, nevertheless plays a
pervasive role in the lives of its 5.4 million people.
It subsidises public housing where
most Singaporeans live, sets rules to
preserve harmony among the Chinese, Indian and Malay communities
in a place that saw deadly race riots in
the 1950s and controls state investor
Temasek Holdings, which owns shares
in major companies.
Singapore forbids the sale of chewing gum, partly in a bid to keep its
pavements clean, and bans pornography even though it has an active legalised sex industry. It has also run public campaigns to promote good spoken
English, courtesy, tidiness and dating
among single professionals.
Lee, the eldest of four brothers in
a middle-class Chinese family, studied
at Raes College in Singapore before
getting a rst-class law degree from
Britains Cambridge University.
He married lawyer Kwa Geok Choo
in 1950, the same year they set up the
law rm Lee & Lee with his younger
brother Lee Kim Yew. His wife died aged
89 in 2010 after a long illness.
Lee died on Monday aged 91.
-REUTERS

Floral tributes sit at the feet of a statue of Englands King Richard III outside
Leicester Cathedral in Leicestershire, central England, on March 23. AFP

After digging remains of

King Richard III, Britain
buries the Dark Ages
Yesterday, King Richard III
Englands last medieval monarch
was interred in Leicester Cathedral, almost three years after
archaeologists dug his remains
out of a car park run by the local
council.
The death in battle of a king
known to history for badly needing a horse and for a hunched back,
marked the end of the medieval
period in England. His replacement, Henry Tudor the victor
at Bosworth Field in 1485 who
became Henry VII is seen as a
very dierent man, a much more
modern king for a much more
modern era.
As Richard fought in battle and
died in vain, the world or at least
Europe was beginning to make
some huge leaps forward.
Life in the 15th century remained seriously tough. It was
more than a millennium since
the fall of Rome and collapse of its
empire in the West, but life worse
than when the legions left in 410.
Even by 1485, the roads were less
navigable , trade had diminished,
and the population, while larger,
was almost certainly much less
literate.
In some ways, Richard was little more than a post-apocalyptic
warlord, a leader operating in a
rough, world where central authority was always on the brink
of collapse.
The clash of Christianity with
Islam could stop wars in Europe,
powers uniting to take the Holy
Land during the Crusades had
proved that. Most local conicts,
however, were simply about power. It was, essentially, a Game of
Thrones world.
All of that, though, was about to

change very quickly. By the 1550s,

bibles would be everywhere not
just in Latin, but increasingly in
modern languages too, fuelling the
Reformation, Christian religious
wars, revolutions and unrest.
Science, technology and exploration were also leaping forward. Muslim forces were all but
ousted from the Iberian Peninsula. In Spain, Portugal and Italy
the Renaissance was beginning to
gain traction. Along the coast of
Africa, Portuguese sailing ships
were pushing past the equator
into the southern hemisphere, almost certainly further than the Romans had gone. Columbus would
sail for the Americas within seven
years of Richards death.
A military revolution was underway, too. By the end of the Wars
of the Roses, basic artillery and
even handguns were in circulation but they were rudimentary
and cumbersome. Battle was still
the preserve of heavily armoured
cavalry and infantry with pikes a
long, thrusting spear that almost
certainly killed Richard. Had a Roman legion being thrown forward
1,000 years in time to Bosworth
Field, it might still have won the
day, if only because of its legendary
sense of discipline. A century later,
it would have been cut to pieces in
minutes by sophisticated projectile
weaponry.
Several books 20th century
books have tried to shed a kinder
light on Richard (including Josephine Teys outstanding Daughter
of Time), but perhaps modernitys
greatest gift is simply having clearly identied his body. Now, the last
Plantagenet king will have a proper
tomb in a proper church.
-REUTERS

29

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BUSINESS DAILY | Friday March 27, 2015

Featues | Viewpoints | Poles | Analysis

THE WEEKENDER

Book Review

NEW IN NAIROBI

I pefe a note
book to laptop
BY MWIKALI LATI

Westwood Building, off Ring Road Parklands in Westlands near the Ukay Centre. The building that can house ofces, banking halls, and restaurants, has rooftop terrace suitable for a deck restaurant, bar or cafe. The building has state-of-the-art
high speed elevators, 24-hour security and CCTV surveillance, ample parking bays with two basements, and a standby generator and a borehole. SALATON NJAU

Bestsellers
HARDCOVER FICTION
1. The Girl on the Train
by Paula Hawkins
(Riverhead)
2. All the Light We
Cannot See by Anthony
Doerr (Scribner)
3. Last One Home
by Debbie Macomber
(Ballantine)

11. Private Vegas by James

Patterson and Maxine Paetro
(Little, Brown)
12. World Gone By by Dennis
Lehane (Morrow)
13. Mightier than the Sword
by Jeffrey Archer (St. Martins
Press)
14. Leaving Berlin by Joseph
Kanon (Atria)

4. Being Mortal by Atul Gawande

(Metropolitan)
5. Every Day I Fight by Stuart Scott
(Penguin/Blue Rider)
6. Killing Patton by Bill OReilly and
Martin Dugard (Henry Holt and Co.)
8. 10-Day Detox Diet Cookbook by Mark
Hyman (Little,Brown)
9. Thug Kitchen by Thug Kitchen (Rodale)

15. The Fifth Gospel by Ian Caldwell

(Simon & Schuster)

10. The 20/20 Diet by Phil McGraw (Bird

Street Books)

5. The Assassin by Cussler/Scott

(Putnam)

HARDCOVER NONFICTION

11. Goddesses Never Age by Christiane

Northrup (Hay House)

7. A Spool of Blue Thread by Anne Tyler

(Knopf)
8. The Buried Giant by Kazuo Ishiguro
(Knopf)
9. The Nightingale by Kristin Hannah (St.
Martins Press)
10. Cold Betrayal by J.A. Jance (S&S/
Touchstone)

1. Dead Wake by Erik

Larson (Crown)

12. Money: Master the Game by

Tony Robbins (Simon & Schuster)

2. The Life-Changing Magic

of Tidying up by Marie
Kondo (Ten Speed)

13. 17 Carnations by Andrew

Morton (Grand Central)

3. Get Whats Yours by

Laurence Kotlikoff, Philip
Moeller and Paul Solman
(Simon & Schuster)

mwikalilati@gmail.com

7. Savor by Shauna Niequist (Zondervan)

4. Prodigal Son by Danielle Steel

(Delacorte)

6. Endangered by C.J.Box (Putnam)

s majority of the upcoming Kenyan writers opt for

self-publishing, Kinyanjui
Kombani says any new book he
writes Longhorn Publishers be his
rst choice.
They have published ve of his
books. Kombani does not sit back
and wait for royalties, he works hard
for them.
His book, The Last Villains of
Molo, has been used as a study text
in Kenyan universities which has
boosted sales and built the writers
prole.
How is your latest book, Den
of Inequities, doing?
It has out-sold The Last Villains
of Molo. I have used social media
to my advantage. Even before the
launch, I already had a pre-order of
600 copies.
You go to a lot of book signings and events. What are the
common questions you get ?
People want to know the themes
and the symbolism in my books. In
The Last Villains of Molo, there is
a place where the characters are
passing through the slums then see
a pregnant goat and someone had
scrolled on it Ask for Transport. I
was asked what is the signicant of
that goat. I just saw a similar goat,
thought it was funny, so I added it
in.

You work full-time at a bank.

How do you nd time to write?
I write in the evening after work.
I once in a nine-hour ight planned
to write; not a single word.
Another time, I was in a one-hour
ight and I wrote 1,500 words. I was
scribbling on my notebook all the
way.
I think the less time I have the
more I write.
On a note book? You do not
use a laptop?
I nd it tiring. They have a lot of
interactions like pop-ups. It is also
makes you conscious of your errors
while writing.
How has your writing grown
over the years?
When I wrote The Last Villains
of Molo, I was using a dictionary. I
was focused on impressing the readers and publishers with vocabulary.
I wanted a build a name and now I
know that simplicity is better. I have
become more interested in just telling a good story.
What are you working on
now?
A novel that I hope will be out
next year. In the meantime, I am involved in the Daystar Universitys
Creatives Academy workshop that
takes place every Saturday at the Nairobi campus and organising the next
Authors Buet in May.

14. Yes Please by Amy Poehler

(Dey Street Books)
15. Our Kids by Robert D.
Putnam (Simon & Schuster)

Kinyanjui Kombani (right) with John Sibi-Okumu during the Writers In

Conversation event at the Goethe Institut. MWIKALI LATI

Friday March 27, 2015 | BUSINESS DAILY

THE GOLF COURSE

THE WEEKENDER

Golfes ente busy season of

tounaments fom weekend

GOLF Briefs

CALENDAR Karen hosts nals of amateur Barclays Golf Circuit

THE GOLF TALK
CHARLES GACHERU

or the next few weeks, the golf calendar is packed with some interesting tournaments. This weekend
the Karen Country Club will host the nals
of the Barclays Bank of Kenya Golf Circuit,
an amateur tournament that has been
played in 15 golf clubs across the country
and hosted nearly 2,000 golfers.
The lucky winners from this circuit
will battle it out for 20 VIP tickets to the
Barclays Kenya Open. These VIP tickets
will give the winners slots into the Barclays Kenya Open main Pro-Am on April
8, passes to the Barclays Bank hospitality zone and season passes to the tournament.
The Barclays Golf Circuit was launched
in 2012 and has entertained more than
10,000 golfers across the country, so far.
Additionally, Barclays Bank has used
the circuit to drive one of their CSR activities, Light Up Kenya.
To date, the Barclays Golf Circuit, employee programmes and customer events
have raised over Sh7 million towards this
initiative with the bank investing another
Sh26 million into the project.
The action at Karen will be followed by
the Tannahilll Shield at the Royal Nairobi
Golf Club. Also known as the Easter Tournament, the Tannahill Shield is Kenyas
most prestigious amateur team tournament and with a heritage that goes back

Woods condent of
2016 Ryder Cup spot
The Karen Country Club. FILE

more than 90 years. The team from Vet

Lab has been invited back to the event,
after a three-year disciplinary suspension
that was occasioned by the alleged elding of non-members of Vet Lab.

Very vibrant
According to the Royal Club Captain,
Bernard Kiraithe, 90 golfers from across
the country will play in the event. Our
sister golf club, Mombasa Golf Club will
send a team made up of Coast-based players, we will have a team from Western
Kenya that includes golfers from Kericho,
Nyanza, Eldoret, Kitale, Nandi Bears, Nakuru and Njoro and we will have players
from Muthaiga, Sigona, Limuru, Karen,
Windsor and Railways, he said. Royal
Nairobi Golf Club will be elding a very
vibrant team.
The Tannahill Shield tees o on
Good Friday, April 3 and concludes on
Sunday.

The week after Tannahill, the Barclays

Kenya Open, will take centre stage at the
Karen Country Club. There will be two
Pro-Am events, one on April 7 headlined
by Coca-Cola and the main Pro-Am event
the next day headlined by the title sponsors Barclays Bank. The main tournament
starts on April 9 and ends on April 12.
More than 100 professionals from
the Challenge Tour are expected to travel to Kenya for the 2015 Barclays Kenya
Open, part of the European Challenge
Tour, another 22 Kenyan professionals
will also play alongside six Kenyan amateur golfers.
The total eld of 156 golfers will compete for the total prize kitty of 200,000
euros (Sh20.2m) with the winner taking
home 32,000 euros (Sh3.2m). A Kenyan
professional is yet to win the Kenya Open.
But 17 years ago, Jacob Okello came close
but lost the top prize to Ricardo Gonzalez
at Muthaiga.

Former world number one Tiger

Woods expects to be challenging
for a place on the US team for next
years Ryder Cup, according to
skipper Davis Love III.
In an interview with the BBC, Love
said he was in regular contact
with Woods and was not ruling
him out, despite his current struggles with tness and form.
Woods, who had back surgery
last year, has played only two PGA
Tour events this season and said
last month he would not return
until he felt his game was tournament-ready.
Hes expecting to make the
team, Love told BBC Radio. He
and I keep in touch a lot more than
we have. He still has a good attitude and is working hard.
I spoke to a few people who tell
me hes working very hard and is
eager to get back. I suppose he
has a plan for The Masters - were
hoping to see him back soon.

Fourteen-times major champion

Woods, now ranked 96th in the
world, has not ruled out playing at
next months Masters at Augusta
where he has won four times.
Love said Woods rst target
would be this years Presidents
Cup, between a U.S. team and
an international selection, in October.
He is anxious about getting back
to playing so he can get some
points for that, then he can think
about Ryder Cup, Love said. I
wouldnt count him out just yet.
Woods has played in seven Ryder
Cups, but missed last years event
in Gleneagles because of injury.

Wozniackis pain after

split from McIlroy
Former world number one Caroline Wozniacki says she felt like
someone close to her had died after the split from golfer Rory McIlroy last year.
The Dane was quoted by Britains
Independent newspaper as saying her world was turned upside
down when the Northern Irishman ended their relationship in
May after wedding invitations had
been sent out.
In my head I had everything until
that moment, said Wozniacki. I
had a great career, I was getting
married, I have a perfect family.
There was really nothing going
against me. I was happy, very
happy.
Then all of a sudden something
happens you dont expect.

GOLF FIXTURES
Sigona Golf Club
Sunday; Sikh Golng Society Sponsored by Sunny
Syan; First Tee;7.32 Sihra G,Brar J(G),Roopra
R,Mandalia A(G);7.40 Matharu M,Panesar G,Patel
U(G),Bhachu Gavi;7.48 Bhachu A,Matharu S,Choda
G S,Riyat M Dr;7.56 Sokhi B,Sokhi P, Jandu
S,Chaggar C D;8.04 Jandu J J ,Matharu K , Shah
N(G),Choda P;8.12 Channa Ski, Choda Ricky,Rajput
R,Chal M;8.20 Sehmi R,Phull S,Arora J,Kalsi
Sabo;8.28 Syan Sunny,Syan D,Choda H,Choda
A;8.36 Shah S(G),Mangat R,Mangat K,Ibrahim
M(G);8.44 Bhandari S,Sokhi Nino,Sehmi Kamal
S,ChannaTS;8.52 Sehmi Harki,Bhachu G,Bansal
A,Mudher A;9.00 Mangat S,ANO,ANO,ANO;9.08
Mangat G,Sura A,Gautam (G),Aziz (G);9.16
Sigona,ANO,ANO,ANO;9.24 Virdi D, Nagi R, Kalsi
Kabir,Kalsi Dipi;
Tomorrow
March Monthly Mug
1st Tee 7:28 M.Oyugi, M.Bector, J.Otieno,
D.G.Muchungu; 7:36 A.Unia, Mohan Shah, M.Azad,
D.M.Kinuthia; 7:44 J.Kiengo, J.Karingu, Jane
Mwangi, P.Wambugu; 7:52 M.Iraki, K.Raikundalia
K.Thakkar; 8:00 X.N.Iraki, J.Jobanputra, J.Kirui,
Rohan Lakhani; 8:08 Jayshwin Shah, J.M.Mwaura,

Vaishal Shah, J.Kinuthia; 8:16 D.Oyier, W.Moturi,

B.Omondi, R.Kibet; 8:24 W.Kinyanjui, J.M.Nderitu,
K.H.Magnussen, B.Mandere; 8:32 P.F.Kitololo,
Kamal Shah, O.Mbatia, B.Sivadas; 11:22 Rohit Shah,
J.G.Chege, K.Bosire, M.Kombo; 11:30 P.Kamau,
C.G.Munyori, S.K.Maritim, S.Tubei; 11:38 B.K.Mbaya,
L.Munyua, K.Nkomani, W.Nadida; 12:02 C.Kamari,
R.Muthemba, P.M.Mbarathi,B.N.Kamau ; 12:10
S.Kiragu, D.Mwangi, O.Kangoro, J.Wainaina; 12:
26 A.Kale, M.Mbugua, W.Macharia, P.Sinkira; 12:34
K.Pindoria, D.Siyani, M.Maingi; 12:42 E.Ogonji, Kris,
B.Venkant, J.G.Njenga; 1:06 Niral Shah, H.Dsouza,
B.Wamahiu, M.S.Riyat; 1:22 D.Ngumi, M.Makundi,
O.Abekah, OS.
10th Tee7:28 Ian Maina, F.Wangila, P.Okoth; 8:
00 Y.Asami, K.Oba, D.Thakkar, U.Raikundalia; 8:16
Birju Shah, Om Shah, Manu Shah; 8:32 S.Barretto,
R.A.Kitololo, L.Magnussen; 11:30 E.Obare, P.Okemwa,
Maj.Gen. Owino, Brig. Murgor; 11:38 K.Mariga,
R.Muraya, J.Muriithi, M.Karobia; 11:46 I.Makoha,
D.Kabage, S.Orinda; 12:02 H.Joshi, B.Lakhani,
K.Chandarana, S.Thakkar; 12:10 C.Jobanputra,
R.Lakhani, T.Thanawalla.

Kiambu

Tomorrow; March Monthly Mug; 7:36 F. Gichomo, A.I.

Kariuki, R. Ngui, Ano; 7:44 M. Gachugi, M. Kibi, H. Karuma,
G.G. Waburi; 7:52 P.E. x 4; 8:00 G.W. Kuria x 4; 8:08 J.K.

Waweru, J. Muchigi, G.K. Athiru(l), Ano; 8:16 J. Kibugi, C.

Thube, E. Mugo, Ano; 8:24 A.M. Gakere, N. Kamunge, M.
Kamau, G.N. Kiriba; 8:32 S.N. Mugwe x 4; 8:40 P.E. x 4; 8:
48 J.N. Kimotho, J.K. Waweru, M. Ngene, M. Njuguna; 8:56
C. Mugo, O. Gathara, F. Ngatia, Dr. P. Githae; 9:04 J. Ngure,
F. Nyaga, P.K. Kahuho, S. Kiaro, Ano; PM: 11:36 JEI-EN x 4;
11:44 N. Mwangi, S. Gwandaru, E. Njoroge, E.G. Kuria; 11:52
P.E. x 4; 12:00 P. Kariuki, F.M. Njoroge, P. Mworia, Ano; 12:08
J. Ndegwa, S. Karanja, H. Maina, M. Nyaga; 12:16 J. Njoroge
x 4; 12:24 P. Kaumbutho, D. Nyaga, L. Njue, Ano; 12:32 C.
Njoroge(l), M. Karanga, J. Kinuthia, Ano; 12:40 R. Ngatia, K.
Mwaura, Ano, Ano; 12:48 G. Kamau, D. Kimani, Ano, Ano; 12:
56 J. Kimani, M. Nduati, S.N. Kabundi, Ano; 1:04 P.E. x 4; 1:
12 W.R. Njeru, M. Kanyeria, S. Mukia, Ano.POST ENTRIES TO
THE STARTER:

Karen Country Club

Friday: Rotary Club of Langata Charity Golf

Tournament: First Tee: 12.00 R. Waruinge, R. Ngui, M.

Mukiria, P. Wanyeki; 12.08 A.N. Mugo, D. Kyengo, G.
Muriithi, G. Masese; 12.16 E. Rugo, C. Nduati, F. Maina,
G. Kuria; 12.24 E. Kamau, F. Karweru, H. Waswani, T.
Akuku; 12.32 N. Njeri, V. Njeri, F. Mokaya, C. Okara;
12.40 E. Mugo, N. Kibe, N. Kangethe, P. Ngige; 12.48
A. Koech, C. Omondi, I. Nderitu, D. Njoroge; 12.56
K. Kimani, G. Wangongu, D. Ireri, W. Omondi; 1.04
D. Ndegwa, A. Wainaina, M. Ngatunga, K. Kaittany;

1.12 S. Waruhiu, B. Mutunga, M. Nganga, C. Kaane;

1.20 M. Njonjo, A. Muhoro, V. Panesar, I. Daima; 1.28
W. Baraza, S. Langat, D. Lumula, M. Mwangi; 1.36 B.
Kahama, P. Kinyanjui, J. Thagana, P.E; 1.44 Mutuma,
Mutuma, I. Muchiri, R. Endicott; 1.52 M. Mutura x4;
2.00 G. Mboya, P. Waiyaki, A. Mwai, A. Mwai; Tenth
Tee: 12.00 P. Warutere, G.K. Kingau, S.K. Kamau, D.
Swao; 12.08 M. Gachuhi, G. Thuo, M. Kahende, M.
Kahende; 12.16 E. Rabongo, P. Ndisya, S. Lokonyo,
M. Muhanda; 12.24 A. Hicks, S. Mwendwa, J. Karo,
S. Montet; 12.32 J. Mugo, R. Maina, A. Gatoto, K.
Macharia; 12.40 K. Chuire, S. Mwangi, D. Wamwere,
C. Kigwe; 12.48 B. Koyier, E. Waithaka, B. Ligale, E.
Kalya; 12.56 G. Karugu, M. Gakuo, K. Kimondo, Eng.
Irimu; 1.04 S. Mwirigi, K. Muya, K. Thimba, K. Muia;
1.12 J. Okuku, K. Wamae, J. Katuku, P.M. Katuku; 1.20
A.K. Maina, W. Moturi, K. Kanyarua, P. Wanyeki; 1.28
E. Kiruja, A. Ndolo, B. Simiyu, M. Kanyi; 1.36 I. Kibe,
T. Kinyua, Alexandra, J. Osundwa; 1.44 R. Migok, D.
Musembi, K. Munyoro, F. Kirui; 1.52 Gulf Africa Bank
x2, Cube Movers x2; 2.00 G. Kabugua x4;
Post entries through the Pro Shop.

31

32

BUSINESS DAILY | Friday March 27, 2015

THE MARKET CURVE

FINANCIAL ANALYSIS & COMMENTARY with George Bodo

www.businessdailyafrica.com

BUYOUT Members will have to inject more money into lender for sensible returns on investment

Mwalimu Sacco
needs ove Sh2bn
to tun aound ECB
T
dividend payout. So matching these
his week it emerged that a commission set up by the Ministry
kinds of returns is going to be a longof Industrialisation and Enterterm project for the teachers.
prise had surprisingly issued the nal
And just how much will Mwalimu
greenlight for the acquisition of a 51
Sacco need to inject into ECB, on top
per cent stake in Equatorial Commerof the purchase price, and what will
cial Bank (ECB) by Mwalimu Sacco.
this money be used for? First, the
Mwalimu Saccos buyout of ECB
bank has been operating on very
has been done through a vehicle
thin capital adequacy buers. At the
close of third quarter 2014, the banks
known as Mwalimu National Holdcapital adequacy ratio was at 13.2 per
ings. Unfortunately, the bank, as it
cent at a time it should
is right now, may not
have been gearing
be able to return the
cost of capital that
In 2012, while ECB to comply with the
new minimum raMwalimu Sacco has
was geneating
tio of 14.5 per cent,
injected both on a
negative etuns,
which took eect in
short- and mediumJanuary.
term basis.
Mwalimu Sacco
So to generate
But the purchase
declaed 11.5 pe
sucient
buers
price aside, Mwalimu
Sacco members should
that can sustain a
cent dividend
now be prepared to in20 per cent year-onject even more money
year growth in cusinto ECB to be able to match its retomer assets, the bank will need a
turns with what Mwalimu Sacco
Tier 1 capital injection to the tune of
itself is currently generating for its
Sh1 billion. As at Q3 2014, a Sh1 billion capital injection would create a
members.
buer of six per cent, which can quite
In 2013, while ECB returned just
accommodate a double-digit growth
four per cent on its shareholders
in customer assets.
equity, Mwalimu Sacco declared a
Capital is an issue because ECB
dividend payout of 12.15 per cent for
its members. In 2012, while ECB was
is an asset-driven bank and genergenerating negative returns, Mwalates 70 per cent of its revenues from
lending. Second, the new shareholdimu Sacco declared a 11.5 per cent

Equatorial Commercial Bank in Nairobi. FILE

ers will have to signicantly invest
in enhancing the banks deposit franchise, which is relatively weak and has
not been helpful in as far as liability
generation is concerned.
Indeed the bank has had challenges generating sucient low-interest
bearing liabilities. Between 2012 and
2013, banks cost of funds including
long-term borrowed funds was in the
double digit territory, which is very
high. So to help alleviate existing funding constraints, some Sh1 billion, on
average terms, will be required to
ramp up distribution network including alternative channels.
Third, the bank would then need to
upgrade its product oerings to reect
the new shareholders strategy and
also recongure its target market.
This would include enhancing capacity of existing systems and banking
platforms, and even tweaking both its
business origination and customer
acquisition processes. And it looks
like the strategy could lean towards
a mass-market driven approach, given
the background of Mwalimu Sacco;
so it might cost some money.

Finally, there could be some previously undisclosed liabilities that may

require clean-up by Mwalimu Sacco.
As was reported in the Business Daily,
the commission noted that even Ernst
& Young, which was appointed as the
due diligence consultants, had advised
a go-ahead but expressed some reservations regarding ECBs credit risk
management.
This report by E&Y isnt public yet
but, from afar, it looks like they were
questioning the banks non-perfoming loans classication procedures.
Such holes, if any, would have to be
painfully lled and it will indeed be
an additional cost to the saccos members. In terms of investment horizons,
this full turnaround, if indeed is the
strategy of Mwalimu Sacco, could
last north for two years. Overall, for
Mwalimu Sacco, it doesnt just stop
with the purchase price, but further
investments in ECB above Sh2 billion
will be required in a bid to scale up
shareholder returns.
It looks like a long-term investment by Mwalimu.
The writer is an investment analyst.

GLOBAL MARKET WATCH

DJ INDU
17,718.54
-292.60

FTSE 100
3,142.07
-36.22

XETRA DAX
11,670.88
-194.44

Fed ocial says

its now time to
nomalise US
monetay policy
ow may be a good time to
start normalising US monetary policy, Federal Reserve
policymaker James Bullard said yesterday.
In the text of comments delivered
to an audience in Frankfurt, St. Louis
Fed President Bullard said doing that
would direct policy so that it is set
appropriately for an improving economy over the next two years.
He said that the US economy had
normalized, adding: Even with
some normalisation, monetary
policy will remain exceptionally accommodative.
Bullard is not a voting member
on the Feds policy setting committee this year, but does take part in
regular policy deliberations.
He has long called for the Fed to
hike its key rate sooner rather than
later.

Rate
Bullard said the recent decision by the
US central bank to remove a reference
to being patient on rates from its policy statement made a return to standard policy making possible.
By removing patient, the ... (Federal Open Market Committee) can
return to more standard monetary
policy decision-making, under which
an appropriate policy rate is decided
at each meeting.
Nearly all Fed ocials expect
the Fed to raise rates sometime this
year, but exactly when is a subject
of debate.
-REUTERS

CURRENCY RATES
CAC 40
4,947.16
-73.83

FTSE MIB
22,807.04
-338.06

SMI PR
9,033.94
-154.31

HANG SENG
24,497.08
-31.15

NIKKEI 225
19,471.12
-275.08

ALL ORD.
5,849.73
-87.36

SSE COMP.
3,682.42
21.69

S&P SENSEX
27,457.58
-654.25

$: 91.70
: 100.63
: 136.39

TSh
USh
SAR

19.98
32.36
7.71

Market Activity
LAST

PREVIOUS

2,425.61

2,416.09

TOTAL SHARES TRADED

42,820,100

25,653,400

EQUITY TURNOVER IN SH

1,328,289,442

651,678,424

MARKET CAP IN SH BN

BONDS TURNOVER

1,706,000,000

TOTAL DEALS (BONDS)

TOTAL DEALS (EQUITY)
NSE 20 SHARE INDEX
NSE ALL SHARE INDEX
PINEBRIDGE INDEX

10

2,093

2,199

5,252.74

5,275.10

173.73

173.05

885.04

883.47

227.70

226.36

FTSE NSE KENYA 25 INDEX

228.18

226.93

FTSE ASEA PAN AFRICAN INDEX

The key to successful

leadership today
is inuence, not
authority.

735,200,000

FTSE NSE KENYA 15 INDEX

FTSE NSE KENYA BOND INDEX

HE SAID

93.28

93.30

1,339.46

1,227.52

Download the NMG PLAY app on Google

Play and scan this QR code with your
smart phone for pictures, videos and
more stories

- Kenneth Blanchard
American author and
management expert(1875 1950)

www.businessdailyafrica.com

The business of taking a break

Ugandan
designe Sylvia
Owoi back in
Naiobi >> PAGE 13
27TH MARCH - 2ND APRIL, 2015

Geaing up
fo Easte
With only one week to go, tips on
whee to go and what to do >> PAGES 5-10

Why Gina is a good wife, mother >>3 | Build your house in two weeks >>4 | Davido in town >>12

BDLIFE | Friday March 27, 2015

BDLIFE: THIS WEEK

EDITORS NOTE

REAL ESTATE

EASTER SPECIAL

HEALTH

11

EAT OUT

aster marks the death and resurrection of Jesus, an occasion

that brings extreme joy and
happiness to Christians. The holiday is
appropriate for individuals who want
to spend time with family or friends.
Unlike Christmas time when people
go all out to spend money and enjoy,
Easter is usually a more sombre holiday when people tend to go upcountry
or to just spend quiet time together as
a family. Since the holiday lasts four
whole days from Good Friday to Easter
Monday, people have plenty of time on
their hands and can get bored easily
if they spend the whole time indoors.
Instead of lazing on the couch watching movies or sleeping, those with no
plans for the holiday should borrow
ideas from our main story.
Those who will be in town are not
left out as hotels and restaurants have
lots of goodies lined up starting with a
concert by Nigerian sensation Davido.
We have brought you all these ideas a
week ahead so you have no excuse.
Look out for more ideas next Friday.
Meanwhile, enjoy your weekend

Rhoda Oengo

Building a decent house

in one month with new
technology

Naivasha beckons for

long Easter weekend

What you need to

know about pins
and needles

THIS WEEKS PHOTOS

COMMENTS
Manish Nambiar
- general
manager
Kempinski
(third left) with
Greg Stevenson
(left), Vikki
HollandBowyer, Mrs
Manish, Emma
Hodgetts and
Dean Ashto
at the ABBA
Reunion Tribute
Band Listening
party that took
place recently
at the Villa Rosa
Kempinski.

Published by the Nation Media Group

Kimathi Street, Nairobi
PO Box 49010 GPO Nairobi
Telephone 254 20 328 8104
Fax 254 20 214 849
Email: bdlife@ke.nationmedia.com
www.bdafrica.com

LINUS GITAHI
Chief Executive Ofcer
TOM MSHINDI
Acting Editorial Director

kijana2014: No wonder some of

our leaders cannot empathise with
the challenges that the mwananchi
faces in daily life.
Muchiri: No
Kulinganisha.

room

for

Yulemguyz: When I grow up...

Herald Loshi : The power of
marketing.

Packwood: Is it Sh700,000 Kenya

or Uganda?

JOAN PERERUAN
Photographic Editor

Pierremmoja: Overblown these

charges they tend to be... Lots of cost
to factor in: First Class travel, cargo,
upkeep, travel and other allowances
for Petrucci and his ilk, reputation
(most important), you name it. The
actual realistic price of such a suit
I bet my left ear, would be half the
price. But then again, who am I to
throw unrened words around!

ANNIE NJANJA
BILL ODIDI
DOREEN WAINANAH
DR MUKUHI NGANGA
JACKSON BIKO
MWIKALI LATI
MARGARETTA WA GACHERU
ISABELLA MUKUMU
SANDRA CHAO-BLASTO
EVELYN SITUMA
Writers
GENNEVIEVE NAHINGA
Senior Graphic Designer
MILLIE WACHIRA
STANSLAUS MANTHI
Graphic Designers

FILE

Phil Oronje III : One word - PR.

Gatundu Macharia: Wah, the gap

is huge indeed but I hope they are
involved in some philanthropy!

RHODA ORENGO
Associate Editor

A past party in the Wild event.

MASTER TAILORS JET IN TO OFFER

SKILLS A CUT ABOVE THE REST

ALL PHOTOS COURTESY

OCHIENG RAPURO
Managing Editor

ON THE COVER

14

Your eating guide

over Easter

Emma Hodgetts of the ABBA Reunion Tribute

Band.

CONTACT US:

Amit Sharma, director of Food & Beverage Kempinski (third right), joins
Anne Murungi (left), Greg Stevenson, Vikki Holland-Bowyer, Emma
Hodgetts and Dean Ashto.

Five Oh Three Mod: The person

who buys a Sh700,000 suit doesnt
do so because he thinks thats what
it is worth, but rather because he
knows that price assures him few
others will have suits like that.
With that kind of cost, there will
probably be only you wearing that
kind of suit in the country! Its called
branding guys!

BDLife wants to hear from you. Send photos and letters to bdlife@ke.nationmedia.com and we may publish them on this
page. Follow us on Facebook.com/BUSINESSDAILYAFRICA or join and follow our conversations on twitter @BD_Africa and #BDLife

Friday March 27, 2015 | BDLIFE

PROFILE: BDLIFE

Why I think Im a geat mum and wife

PHOTO / COURTESY

She doesnt need much intoduction, does she?

Woked fo Baclays Bank fo 14 yeas then
stated he own company, which has won
numeous awads at public elations society
galas. She was voted among 100 Most Inuential
Aficans by New Afican Magazine in 2013. She
has handled some big accounts like Safaicom,
Kenya Aiways, KCB and Kenya Red Coss,
among othes.
If you ae fiends with he on Instagam, you
will follow he jetset lifestyle. And inspiational
quotes. And pictues of he contoted in yoga
poses; twisted and withing in the quest fo
equilibium and peace. But most
times, Gina Din will neve have
GINA DINKARIUKI
a single stand of he hai out of
Executive
Chair, Gina Din
place. Shes pictuesque. We meet
Group
in he oce, along Gitanga Road.
Age: 53
She speaks softly, thoughtfully but
Children: Two
mly.
BY JACKSON BIKO

What has been the most challenging thing

running your business as a woman?
Its tough now, but 18 years ago, it was almost impossible. Getting multinationals to
believe a Kenyan woman could do it was hard.
But we broke through it and we have had incredible support from corporates. I think the
advantage I had, even though I didnt know
it then, was that I began building my brand a
long time ago even at Barclays.

How do you handle your failures in life?

My biggest failures have always been my
error of judgment in the people I hired. I assumed that their loyalty was automatic. Im
sure Im going to fail in future as much I will
succeed but I dont fear it.

Does physical appeal dictate how far one

can go as a PR practitioner?
I think if you turn out looking the part, you
will earn some marks already. If you can take
care of yourself, it probably follows that you can
take care of a clients needs. So Im particular
in the way I present myself.

So you throw some good money at your

wardrobe?
Not necessarily. I have a real mix of my
wardrobe; I have stu that are quite cheap to
be honest. I dont think you necessarily have
to buy expensive to look good. Dressing well
means knowing how to put stu together.

Do you drink?
I drink champagne.

I saw some mad yoga poses on your Instagram. You are pretty serious about that
stuff, arent you?
Oh yes. I see that as part of what I do at
work, you keep pushing your body, getting
out of easy zones and like your job, it gets you
to a better place each time you push. I have
been trying this new pose for three weeks
now, nally I got it. (Shows me picture of her
right leg around her neck). Comfort zones
are dangerous.

What are you struggling with right now in

your life?
Im searching for the next big thing. I dont
know what that is. I really believe that you can
take on as much as your mind can expand to
give you.

What does your husband do?

Hes a captain with Kenya Airways. Great
guy. Y ou want to meet him? Hang on, hes in
the next room, let me go get him perhaps he can
tell you what kind of a wife I am. (Laughs).
[Captain Chris Kariuki walks in moments
later: tall, clean-shaven, and deliberate]

know - (smiles).

How many pairs of shoes do you have?

Captain, what do you like about Gina?

Lots! I mean honestly, I have a lot of shoes.

I mean a girl has to have shoes. Girls love
shoes.

Have you been a good wife?

How do you let your hair down?

What do you then least like about yourself?

I do yoga. I read a lot. I have a very large

network but a very tight circle; I spend time
with my tight circle. I travel a lot. Yoga makes
you very balanced. If I werent doing yoga I
would probably be drinking a lot (laughs) so
yoga has become my drug.

I think I have been a wonderful wife. And

a good partner and a good friend.

I hate that Im so impatient, I really do. I

hate that I want results NOW. Im a perfectionist to a fault, so Im always critical of some of
my judgments.

How do you maintain balance in your life?

We have managed up to 30 clients at a go,
and its all about managing your time and making sure that everybody that needs my time
gets my time and I prioritise.

That my father isnt around to see me now.

He passed on when I was only 18, a time every
girl needs a father. My mom followed many
years after.

What does motherhood mean to you?

When were you at your happiest in your

life?

Its the most important role for me. When

God blesses you with children, its a huge responsibility because you are moulding them
for the future. I want to make sure they are
secure as young people because I dont want
to be xing adults in the future.

Im quite a condent womanI mean, but

I have had major insecurities growing up that
I wasnt bright enough, or smart enough. Its
only quite recently that I came to. I think insecurities actually become your driving force
because you get so determined to get through
them to prove the naysayers wrong.

I have been a happy person. But I think

from my 40s onwards I got happier because
I was just coming into myself. My 20s were
challenging, lost dad, was unsure what I was
doing with my life, had this big job at Barclays
that came with challenges. In my 30s, I knew
where I wanted to be, set up my business but
I had a lot of insecurities. In my 40s, I felt that
I had come to know who I really was and what
I wanted and then when I turned 50, I realised
I nally settled down to who I was. Its been
absolutely incredible. At 50, there are certain
things I turn down and Im not afraid to turn
them down.

Do you think you are a good mother?

Whats on your Bucket List?

I am. If there is anything I am proud of,

its the fact that I have been a good mother.
My children might tell you otherwise, I dont

I have a long one. I want to see the sunrise

and sunset from as many parts of the world as
I can, and Im ticking them o. I want to see as

Whats your greatest insecurity?

She is very focused, works very hard. She

has grown from nothing; oce of one contract
then two contracts then she has grown to this!
She is way ahead in her thinking, quick mind,
and strategic thinker always two or three steps
ahead. On the domestic side, she is a fantastic mom, almost like she went to school for it;
loving but strict. On the negative side, she can
have a short temper.

How did you meet her?

Whats the biggest regret you harbour in
life?

What are your greatest fears as a woman?

Children. Obviously, the fact that we have
a large population of youth and no jobs. . If we
dont give this huge number of youth something to do, we are soon going to have a very
angry population.

many countries in Africa as I can. I would also

like to inuence policy in some way. Then Id
like to be really thin. (Smiles). I have a gym
at home and so I do the treadmill mostly, but
then I love food, so I need the gym.

She was 16. Her dad had a hotel in Nanyuki

called Sportsmans Arms. I was in the Kenya
Air Force, we had gone to the US to train and
when we came back, there was not enough
space at the air base so some of us were put up
in their hotel. I was too tall for my bed but they
ignored me and so one day, I stormed into her
dads oce, where she happened to be and being the young Air Force ocer, I shouted, Hey
you Din, I have been telling you to change my
room for ages but. and she, only 16, stood up
and shouted back at me, Hey, that will be Mr
Din for you! We engaged in a shouting match
until her dad stood up to defend me. Later, she
came to the bar where I apologised.

Did you, as a black man, experience problems with a mixed race relationship?
Oh yes. But not with immediate family. Her
parents loved me, and my parents loved her
but the bigger family was against it.

Gina, whats the one question you thought

Id ask that I havent asked?
How old are you?

Well, how old are you?

(Laughs). Im 53.

BDLIFE | Friday March 27, 2015

BDLIFE: REAL ESTATE

company is able to put up 300 housing units
in month.
This will also curb speculation about a
bubble burst in Kenyas real estate sector
due to the perceived oversupply of housing units which remain vacant for months
and sometimes years because of their high
price as this technology will lower the cost
of buying or building a house.
It will also discourage people from buying land for speculative purposes because
they would reap more benets by using
these aordable technologies in putting
up housing units and selling them at a
higher rate than they would get from just
selling land.

Earthquake proof

This technology allows you to build storeyed houses like in this photo from Malaysia. PHOTO COURTESY

You can build a decent

house in one month
Use of polystyene technology the answe to
loweing housing costs in Kenya
BY ISABELLA MUKUMU

hanging technology in the real estate

sector has given homeowners a reason
to smile because some of the new technology is oering aordable costs of building homes. With various options available in
the construction industry, home owners can
breathe a sigh of relief due to aordable, yet
reliable, forms of construction brought about
by various forms of technologies.
Expandable Polystyrene Technology is
the use of petroleum by-products and steel
to manufacture prefabricated slabs that can
be used as walls.
The petroleum by-products are heated
and expanded to form the foam slabs used
in this technology.
Koto Housing is one such company using the expandable polystyrene (EPS) technology in building houses which can take
a minimum of three weeks for a bungalow
to a maximum of three months for a maisonette.
The technology which is borrowed from
Malaysia is said to have been one of the most
innovative ways of construction a house using
the panels instead of blocks of concrete.
At rst Koto imported the slabs from Malaysia but later started producing them in the
country after putting up a factory in Mlolongo, which now produces these slabs.

Light weight
Most of the houses are put up in less than
a month due to the light weight of the poly-

styrene materials.
The raft which is the foundation of the
house is normally not dug as deep as that of
a traditional house. After the raft is set up,
well-laid with steel bars erected from it, the
panels are then placed proportionately on
the building structure.
These panels which have a standard size
of about 1.2 metres in length and 1.8 metres
in width are made of foam which enables
them to ll them with concrete in order to
stabilise the walls.
The polystyrene technology is said to save
home owners up to 30 per cent of the construction costs when compared to the traditional brick and mortar technology.
Some of the costs curbed using the Koto
technology are plastering. Due to the smooth
surface of the panels, one is able to simply
do the nishing.

This technology is
stonge than the
taditional bick and
mota houses since
the slabs ae bullet
poof, bomb poof
and can withstand an
eathquake.
Wachira Njuguna,
Managing Director of
National Housing Corporation.

constrained supply.
Through this technology, a construction

The technology is more marketable now

with the support of county governments
which have signed construction contracts
with companies using this technology.
The National Housing Corporation
(nhc) which is already using this technology to put up 5000 housing units for police ocers.
This technology is stronger than the
traditional brick and mortar houses since
the slabs are bullet proof, bomb proof and
can withstand an earthquake, says Wachira
Njuguna, Managing Director of National
Housing Corporation.

Training
More contractors are said to prefer this
method of building due to its cost saving
implications, rubble and waste management as well as its ability to reduce construction timelines by more than a half and
are currently training their employees on
the technology.
Valuers are also being trained on how to
value houses built using this technology
With an annual demand of 200,000
housing units against a supply of 50,000
units, Kenya is set to revolutionise the real
estate sector through the use of this very
aordable technology.
imukumu@ke.nationmedia.com

Cost
The signed partnership deal early this
month with Jamii Bora Bank has also given
us leverage over other companies as homeowners can now instantly own a home without spending too much money or time, says
Moses Nderitu, MD of Koto Housing.
Developers are now aware of the opportunity to put up houses fast and sell them to
the market and see more developments in
record time.
This will also address the housing problem in the country with statistics from the
industry showing the demand for housing
units has driven the cost of houses due to

The Koto Housing show house in Mlolongo. This house was built in two weeks. PHOTO COURTESY

Friday March 27, 2015 | BDLIFE

EASTER SPECIAL: BDLIFE

One is simply spoilt fo choice when it comes to sampling what ou county has to oe

Fo those who
would like
to go camping
Kajiado County
SAVANNA SUNSET RESORT
(OLOLOSOKUAN)
Enjoy picnic with family and friends as
well as camp at the foot of the Ngong Hills
with panoramic views of the Rift Valley.
This camp site has activities such as
hiking, biking and fun activities for children.
Mountain bikes are available for hire in
the premises.
Reservation: Advance bookings
required

OL TALET AND OLOIKA

COTTAGES
Located in Kiserian and a walking
distance from Olepolos club, this tranquil
resort is a perfect getaway for those who
want to have some privacy.
Nestled on the side of a hill, the cottages
have views of the expansive hills and
valleys of Ngong.
Cottages have masaai themes and
can sleep six people in each with a fullyequipped kitchen and pool.
Picnics and camping done on request on
a self-catering basis
Normal rates: Sh18,000 per cottage
that holds a maximum of six people

Reservation: Booking only at http://

oltaletcottages.com/

WHISTLING THORNS
Tucked away in Kajiado County on the
Pipeline route between Kiserian and Isinya,
this paradise has served many who want a
quick getaway from the hustle and bustle
of the city.
Its a small and peaceful hideaway to
relax and spend some time with scenery to
behold of the Ngong hills.
One has a perfect view of sunrise and
sunset from the plains of Kiserian
Enjoy their camp site or cottages,
swimming and walks for a chance to see
the pastoralist communities in the area.

Camping: Own tent Sh800 per person/

night adults, Sh600 children under 10 years
Hire of a tent & mattress Sh900 per
person/night
Bedding Sh500
Luxury tents Sh5000 per night double
bed
Cottages and rooms: Cottages
Sh6,000 per night for 2 people
Master bed Sh7,000
Double room Sh4,500

The Ol Talet Cottages are located about 40km from Nairobi, via Magadi Road. The locatio is next to the famous Ole Polos.

Single room Sh4,000

Extra bed Sh2,200

OLOOLUA NATURE TRAIL

Hidden in the suburbs of Karen, the
Oloolua Nature Trail is an amazing place.
The waterfalls are the highlight of the
trail and the forest cover has a variety of tree
species for those who are interested in the
bio diversity of indigenous forests
The forest is quiet, peaceful and beautiful,
with various spots for picnics and camps
with benches, tap water, toilets and rewood
is available for those who want to light a re.
Bring your own camping gear and cutlery.

Cost: Entry fee Sh200 (children); Sh400

(Residents); Sh600 (Non-residents)
Camping Citizens: Adults Sh2,000;
Sh1,000 Children
Sh5,000 per group of 10 people
Residents : Adults Sh2,500; Children Sh1,5
00
Sh6,000 per group of 10 people

Non-Residents - Adults Sh3,000: Children

Sh1,500)
Sh8,000 per group of 10

STEADMAK GARDENS, KAREN

It is one of those places that you can play,
dine, get accommodation and still want to
do it all over again. With various activities
available for both children and adults, the
Steadmak garden has unique features from
the rest of the parks.
Children have a list of activities for them
from the paddle boat, a trampoline, train
rides, swimming, bouncing castle to the
playground area with swings, slides, balls
and ropes.
Adults can enjoy meals in the oating
restaurants, bandas or at the garden
restaurant with great views of the gardens.
The oating restaurant is one of their
famous areas, which are reserved by groups
of up to 50 people. One can also take up
shing in the dam with shing equipment
available in the vicinity to rent.

Why not go fo a picnic in the city

BY SIMON CIURI AND DOREEN WAINAINAH

airobi National Park has entered into a

partnership with the Sandy Vohra Foundation to open 10 new picnic sites with
the focus of promoting local tourism.
The foundation was started in 2010, in memory
of Sandy Vohra, the former Managing Director of
the Sarova Hotels.
The new picnic site, which will be accessible to
the general public visiting the park, has also been
named the Sandy Vohra picnic site.
According to Minal Vohra, Director of the
foundation, the picnic site will oer the visitors
a chance to experience the natural environment
around the park as well as a recreational centre.
Th10 picnic sites have been marked on GPS.
Some areas are inaccessible at the moment, due
to the terrain which is being worked on. A road
plan to the picnic sites has been designed together
with the KWS engineers. This will be the Green
Line walking trail, said Vohra
Our projects nd an interest in the environment; providing education and shelter for homeless, orphaned or less fortunate children; medical-related projects to improve and to save lives;
and various other causes, she added.
Among the foundations projects has been the
planting of 30,000 trees in a 3km stretch of the

Minal Voray and Shilpa Haria ofcially opening the

Sandy Vorah Picnic Site. PHOTO COURTESY

Nairobi National Park, in conjunction with Nairobi GreenLine Trust and KWS.
The Nairobi Green Line is a project that invites
industries, conservationists, corporate organizations and the public to join the campaign to grow
300,000 trees from the Cheetah Gate in Athi River
to the Carnivore restaurant to protect and enforce
the Nairobi National Park boundary fence.
In recent years, Nairobi National Park has experienced ever-increasing human encroachment
as the city expands. Its proximity to the capital has

exposed the park and its ecosystem to massive environmental risks. In response to the challenges of
climatic changes and global warming, the Nairobi
Green Line oers participating organizations the
opportunity to reduce their carbon footprint by
growing trees.
The new sites will add to the existing sites
that will make up the list of places to picnic in
the city.
With four days to kill over Easter, here are some
of the other sites around the city you can visit.
Mamba Village in Nairobi only 13 km from the
city centre; Machakos Peoples Park in the neighbouring Machakos county, only an hour away from
the city. Langata Botanical Gardens in Karen is a
private site with the option of getting food from
the in-house restaurant or bringing your own at
Sh500 per person.
Nairobi Arboretum, City Park, Central and
Uhuru Parks, all a few minutes within each other
will oer the picnic facilities with the added value
of kids activities. However, they may get a little
crowded during the festivities so it may be better
to look further aeld.
Uhuru Gardens oers a combination of history and activities including buggies for the kids
to drive around. It costs Sh200 for car entry.
Paradise Lost on Kiambu Road has boating and
a tour of Mau Mau caves within the area.

FILE

Great Rift Valley

CRATER LAKE
The camp which is within a game
sanctuary has been a favorite of many who
like camping by the shores of the lake in
Kenyas rift valley
Learn its history by visiting the founders,
Lady Diana Delameres hilltop grave as well as
some of the caves in the golden wheat elds
which are popularly known as Caves of God.
The camp has also received acclamations
as the best tented camp in Kenya as well as
the most romantic.
Get your hiking, cycling, and swimming
gears ready. Those who love the outdoors can
go for guided walks in the game sanctuary
and game drives.

Hire Tent: Sh1,500 pp; 2pax tent

Sh2,000; 3 pax tent Sh3,000 all inclusive of
bedding
Own tent: Sh500 Adults; Sh250 children
per night

LAKE ELEMENTAITA CAMP SITES

The lake famous for its amingos makes
for a perfect getaway for those with families.
Couples who want some privacy can do so in
the nearby hot springs.
The lake is home to several luxury camp
sites including the Serena hotel camp. Those
on a budget can also enjoy their stay at Oasis
Eco camp and Mbweha camp or pitch up tent
on the shores of the lake for a nights stay if
with a group of people.

Limuru
KENTMERE CLUB
Located in the serene Tigoni highlands, this
hotel has a homely atmosphere that delights
those who like cool weather.
It has a restaurant and rooms with a
replace to keep the cold away at night.
Although they do not have many activities
at the club, a quick drive to Browns Cheese,
Kiambethu tea farm or to St Andrews church
and coffee farm for a tour of the former
colonial settlers farms.

KIAMBETHU TEA FARM

The life of a settlers farm is well-mirrored
in Kiambethu tea farm, from the setting of the
landscape to the old settlers house.
The farm offers trips to the expansive
acreage of tea plantations and a half-day tour
of tea tasting and a buffet lunch at the farm.
Reservations: Cottages available with
bookings made well in advance.

BDLIFE | Friday March 27, 2015

BDLIFE: EASTER SPECIAL

This is an option that can be enjoyed by those
with an inclination for the sweet and those
who prefer to moderate the sugar.
Mamas Patisserie gives you a taste of
French desserts in Nairobi. Located at ABC
place, enjoy the oerings at the eatery including the selection of macaroons, Danish and
other pastries.
Tiramisu Bakery at the Village Market has
added to its menu selections including Apple lled and caramel cheesecake, oreo lled
cheesecake, New York cheesecake with mixed
berries, chocolate gateau, vanilla and strawberry gateau and celebration eclairs.

BRUNCH
Good Friday Brunch and Jazz at Best
Western Premier in Nairobi. The hotel is

Chicken Strips by Chef Tony Adnan Chaudry Purdy Arms Hotel . FILE

Long weekend is a good

time to teat you palate
Fo those not tavelling out of town, put sampling
the dieent cuisines on you to-do list
BY DOREEN WAINAINAH

aster beckons next Friday, marking the

rst of the long weekend of this year.
With four days to cap the Christian
celebrations, bonding over a dinner, lunch,
or brunch with the family can be a way to
while away the long weekend.
Most people opt to travel upcountry to
visit family, or to just relax away from the
chaos that is the city centre. With destinations already planned, those not traveling can
enjoy going out to restaurants and eateries
around the city.

ALL YOU CAN EAT

Meat is a Kenyan staple for most Kenyans.
A holiday is not complete without copious
amounts of red meat in the form of Choma.
Restaurants with the concept of Brazilian
steakhouses are becoming top selling outlets.
These include Pampa Churrascaria which
has branches along Mombasa Road and in
Lavington, Fogo Gaucho in Westlands and
Churrasco Gaucho in Kilimani. The Steak
houses oer all you can eat meats at a cost
averaging between Sh1,900 to Sh2,000 per
person with over 15 cuts of meat and over 25
dierent salads.
When talking about all you can eat meat,
the oldest facility to oer that cannot be left
out. Carnivore restaurant, which used to
oer game meat in addition to the regular
meats is also part of the list with an oering of dierent meats including ostrich and
crocodile.

DESSERT
Easter is not complete without indulging ones sweet tooth on dessert or decadent
pastries. Forget the pre-packaged stu, if you
want to grab a pastry or something sweet
around the city, here are some of the places
to visit.
Cold Stone Creamery is the latest ice
cream franchise in town. With sweet, quite
literally, signature creations as well as options of a variety of milkshakes and ice cream
cakes, this can be an option on where to go.
The chain has three branches in Nairobi, Fortis Tower in Westlands, Mama Ngina Street
in the City Centre and a branch in Gigiri.
If you happen to be at the coast, there is a
branch at City Mall.
Artcaffe combines the coee culture and
a selection of pastries for its customers. From
chocolate trues to rich brownies and cakes,
you can top o your dinner with a coee and
dessert at any of the branches across the city
including Lavington, Westlands, Village Market, Parklands and Karen.
Cake City allows you to pick up your cake
slices, sitdown and indulge in the desserts.
With the option of eggless cakes, you need
not worry about religious or dietary restrictions. The shop has branches at Sarit, Pride
Inn in Westlands as well as TRM along the
Thika Super Highway.
Planet Yoghurt revolutionised yoghurt
eating in town. A healthier route to dessert,
you can have a pick of the avours on oer
with the option of fresh topping or sweets.

oering brunch for Sh3,500 per person with

children below 12 paying Sh1,750. The brunch
shall be between 11.30 am and 3.30pm.
Easter Eggcitement at Panari Hotel with
the brunch going for Sh2,500 the Black gold
restaurant, still at the hotel is oering a special menu at sh1,800 per person during the
Easter weekend with an hour of ice skating
included.
From 12pm to 4pm, you can enjoy brunch
over unlimited Prosecco, Italian sparkling
wine, over Easter Sunday at Sankara. The
sweet and savoury delights will be made
at the live cooking station, with kids aged
between ve and 12 paying half price. The
brunch will cost Sh3,500 per person as you
are entertained with live music.
Villa Rosa Kempinskis Lucca is oering
its patrons an Italian marketplace feel with an
antipasti buet, pizza, live pasta and nyama
choma stations, shawarma and a selection
of dessert. For the Easter Brunch, there will
be live music by the Gogo Simo Band, with
a kids play area where the young ones can
enjoy Easter egg craft activities, egg hunting,
face painting, eater bunny and movies. The
cost is Sh3,800 per person with children aged
between six and 12 paying half price.
Bend and brunch at the Tribe is one of
the latest additions to the brunch circuit.
The brunch menu at Tribe includes of eggs,
Indian vegetarian dishes, cold cuts, cakes,
pastries, fresh fruits and sushi. They have
special cocktails, fresh fruit juice, coees
and herbal tea. The yoga runs from 10.30 to
11.30 while the brunch starts from 11.30am
to 5pm at Sh4,000 for both.
Ole Sereni are on Easter Sunday oering a
brunch menu with kids activities for Sh3,500
per person at the Big Five restaurant. At
the Eagles steakhouse, the outt is offering a ve-course lunch and dinner
menu for the weekend all the way to
Easter Monday, as well as dinner on
Good Friday at Sh4,500.

FAST FOOD
Big Square oers a more relaxed,
restaurant-cum-fast food experience.
With oering of the buggers and spare
ribs, it has a kid-friendly menu and is
suitable for the whole family.
Pizza may be one of those meals
that as an adult you have had too
much of, but kids will always enjoy
it. From the latest entrant, Dominoes
Pizza and Naked Pizza, to the veteran
Debonairs and Pizza Inn, , the selection
stretches across the country. Pizzas range
from Sh300 for a kiddie pizza up to 1,200
for a large one.

SEAFOOD
Seven Seafood Grill has a branch at ABC
and one at the Village Market, youll have
your pick of which Seven to visit. The latest
introduction at Seven ABC is the live crab.
Patrons will be able to choose the crab they
want cooked and how you want it cooked.
Some of the other places one can enjoy great
seafood include Ocean Basket, Tamarind
in Karen, Caf Maghreb at The Serena and
the Mediterraneos in Westlands and at
The Junction mall.

CUISINE
Nairobi has become a melting pot of
dierent cultures. Every corner you turn,
there is an Italian, Chinese, Japanese, Thai,
French or even a Spanish restaurant. The
four days over Easter oer the time needed
to try out dierent cuisines.
Indian food at Haandi and Haveli in
Westlands and along Mombasa Road,
Chowpatayat Diamond Plaza and in
Westlands, Bhandini at Hotel Intercontinental, Angithi in Westlands, Mughals at
Adams Arcade among others.
Japanese at Furusato Japan, Haru
in Karen,Sushi Bar by Artcae, Phoenician at the Junction and in Westlands,

Bamboo, Chiyo, Misono, The Sushi Bar

in Fairview.

Chinese at Bamboo in Zen Garden,

Taste of China, Xian, Mister Wok on Mombasa Road and in Parklands, Bangko China,
Tin Tin, and China Plate.
Thai at Thai Chi at the Stanley, Muhibah
at Sankara, Soi at DustD2, Emerald Garden
in Gigiri and 88 at Villa Rosa Kempinski.
Italian at Osteria, Mediterraneo, Trattorria in the city centre, Colosseum i in
Westlands, Eataly in Nyali, Lucca at Kempinski, Mambo Italia in Langata.
To pay homage to the home continent,
there is the option of Ethiopian at Habesha, Asmara, Damera and Smart Village,
Kenyan at Amaica, Dari, Mamba Village.
For Somali cuisine, one can try Al Yusra and
Rayan in the city centre as well as various
outlets in Eastleigh.

Friday March 27, 2015 | BDLIFE

EASTER SPECIAL: BDLIFE

A cottage
at the Malu
Lodge. FILE

Olkaria Spa.
The warm
water is
harvested
from steam
wells.
FILE

Naivasha beckons fo Easte

Thees so much to see and you do not need
to spend all you time at the hotel
BY EVELYN SITUMA

or decades Naivasha town remained

static with not much happening around
it except for the tourists who would conne themselves to hotels around the lake. In
other words, all activities were restricted to
establishments around the lake.
LaBelle Restaurant in Naivasha, located on
the main street inside the town and which was
once he preferred stopover fo anyone passing
through, has been part of the motionless past
of this farming region.
Enter Bualo Mall and now Naivasha is
bustling with life. The Mall and has given
residents and travellers great new options
when it comes to what to do over the weekends. This is a great place for a lazy weekend
especially for those who will be in Naivasha
for the Easter holidays. You no longer have to
be conned to your hotel for a whole four or
ve days depending on how long you will be
holidaying there.
Even for those on their way to the west-

ern part of the country, this is a great place to

stopover for a meal or for some shopping to
take home with you.
Opened last month, this is a modern shopping centre whose aim is to help in seal the gap
experienced in towns across the country where
all the high-end malls worth talking about
were concentrated in and around Nairobi.

Delamere

Mall
So, when Simon Trappes-Lomax, Michael
Lloyd and Paul Phillips did some research
whose outcome pointed to the problem, they
came in ready to invest in a multi-million shilling development that would address this
problem for people living or passing through
that side of the country. And with high-end
homes coming in the area. The timing could
not have been better. The three Bualo Mall directors teamed up with the Delamere Holdings
which owns 25 per cent stake on the mall.
The rst phase is up and running with
Tuskys Supermarket as the anchor tenant.
Java House extends to a nice terrace which

There is also a childrens playground

which is a perfect location for families with
children.
For those who may be staying at self-catering facilities in Naivasha during your holiday,
the fresh farm market within the mall is a
must-visit. This outlet has provided farmers
in the area with the opportunity to market
their fresh farm produce.
Naivasha enjoys a rich history which dates
back to the colonial days when British settlers came in.
The Delameres for years focused on farming, conservancy and more recently, the hospitality industry.

Completed oers patrons spectacular views of Navaisha

and its surrounding areas.
Buffalo
The Java at Bualo Mall is just fantastic.
Mall .
Its not the same coee shop you are used to,
PHOTOS
said Simon Trappes-Lomax during an interMACHARIA
view with BDLife.
MWANGI

Tom Cholmondeley, grandson to the late

Hugh Cholmondeley, has overseen leasing
transactions on the family land for luxury,
leisure and recreational facilities. The prestigious Serena Hotel Lodge in Naivasha sits
on the Delamere property. This hotel hosts
big spenders wishing to while away time in
Naivasha. There is also the Mawe Mbili Camp
and Mbweha Camp.
The Delamere Milk Shop, on the NakuruNairobi Highway is the most cherished stopover for travellers passing by Naivasha.

High-end stores
One Way, Wine Gallery, Health U, Blue Sky,
Craydon Fashion, City Walk and Rift Valley
Leather are some of the high-end stores at
the new mall.

Entrance to Hells Gate National Park.

Visitors tour gorges at Hells Gate. SULEIMAN MBATIAH

Leisure spots
But, the leisure spots on the Delamere farm
are just a fraction of the abundant accommodation and leisure spots Naivasha has to oer.
The old town on the happy valley has lots to
oer both young and old like rock climbing at
Hells Gate and Eburru Hills which is part of
the Mau Escarpment, bird watching, camping, horse riding at Malu Lodge and other
adjacent facilities like camping at Cray Fish,
Fishermans Camp, Kongoni Lodge, Camp
Carnelleys, Naivasha Eco Lodge. Hells Gate
is also wildlife watchers paradise.
The Kengen Geothermal Health Spa is the
perfect spot for those who want to experience
hot water spa treatment. Completed last year,
the blue lagoons have attracted large numbers
of people out to have fun in the heat.
The pools are located in Olkaria, just 120
kilometres from Nairobi.
Currently, only two of the three lagoons
are open for use.

BDLIFE | Friday March 27, 2015

Friday March 27, 2015 | BDLIFE

BDLIFE: MAIN STORY

MAIN STORY: BDLIFE

A past Party
in the Wild
event. FILE

There will
be several
concerts
throughout
the Easter
weekend.

Ole Polos in
Kajiado.
FILE

FILE

There will be
a biking event
in Nanyuki.
FILE

DJs like Crme

De la Crme will
perform at the
Hakuna Matata
festival.
FILE

Its festivals galoe on Easte weekend

Fom Eastefest choal music to iding up the
slopes of Mt Kenya, thees something fo eveybody
BY ANNIE NJANJA
aster, the oldest Christian holiday and the most
important in the life of Christians, is an annual
festival celebrating the resurrection of Jesus.
Given the joy that comes with the commemoration,
Christians from all over the world engage in activities that bring families, friends, colleagues and even
strangers together to mark the occasion.
Various events will be held in multiple towns
around the country to mark the holiday, giving everyone an opportunity to enjoy the holiday.
Below are a number of fun activities that will happen over the Easter weekend. You have one week to see
where you want to spend yours, so here we go.

Some of the activities like riding the quad bikes are

usually paid for, but we are negotiating with our hosts
for better rates, said Kathleen Matathia, Sales and
Marketing manager Green Lantern Entertainment.
Tickets for the events are going for Sh1,500 but this
is exclusive of accommodation charges, which will be
guided by individual preference.
The Storm Resort and Camping rates for cottages,
deluxe tents and manyattas is Sh9,000 and Sh14,000
for single and double occupancy, respectively, for the
two nights.
It will cost Sh3,000 and Sh4,500 to rent a single
and a double camping tent, respectively.
If one prefers to set up their own tent, the cost drops
to Sh1,500 per person.

PARTY IN THE WILD, NANYUKI

TANDAWAZI FESTIVAL, DIANI

Event organisers Green Lantern Entertainment

have promised a blast in the upcoming fth edition
of the Party in the Wild concert.
The two-night party, to be held at Storm Resort and
Campsite in Nanyuki, will be packed with activity and
promises a fun-lled Easter weekend.
The party will begin on Saturday with various DJs,
including DJ Joe Mfalme spinning the music. There
will be plenty of barbecue meats and several bonres
lit at the camping grounds will provide the needed
warmth because nights in the area can get chilly.
After a night of partying, on Sunday, merrymakers will have a variety of activities to keep them tied
down. Games like rugby, volley ball, soccer, mountain
biking, quad bike competitions and nature walks will
keep the party goers busy - or so the event organisers
promised.

Fitness enthusiasts are covered this Easter as the

Tandawazi Fitness Programme promises to keep
them busy and active. The festival of movement, art
and music, to begin on Thursday, will take place at
the Safari Beach Hotel in Diani. It will feature yoga,
salsa, drumming, African dance, zumba tness and
capoeira - an Afro-Brazilian martial art which mixes
music, dance movements and martial arts.
According to Bryan Owango, the festival director,
the festivalevent is traditionally a tness retreat but
holding the event at the coast, over Easter, will be in
line with Tandawazis eort in promoting domestic
tourism.
We have partnered with institutions in the hospitality industry and those dealing in skydiving and
water sports to give participants of the wrap party
discounts during the stay, said Owango.

Part of the games

at a past event at
Impala Grounds
along Ngong
Road.
FILE

Nanyuki town and onwards to Nairobi.

Ms Waiganjo said that only a bed and mattress
will be provided at the camp and bikers are advised
to carry a sleeping bag or beddings.
It will cost individual riders Sh15,000 and Sh9,000
for organised groups of not less than 10.

FAMILY AFFAIR, IMPALA GROUNDS, NAIROBI.

Fam esta, a family entertainment event, will be
held at Impala grounds in Nairobi on Easter Sunday.
The rendezvous will begin at noon and on the log is
an array of activities for kids. An electric train, horse

rides, bouncy castles, clowns and face painting activities will keep children entertained as the parents
engage in various activities including foosball, board
games, miniature golf and darts. To allow parents time
to enjoy the day uninhibited, children will be under
the care of attendants. It will cost Sh300 per person
to gain entry to the event.

HAKUNA MATATA FESTIVAL, OLE POLOS,

KAJIADO
The fth edition of Hakuna Matata Festival will take
place on Easter Sunday and promises revellers a fun
time out of the city. The party will be held in Graceland
Ole Polos, Kajiado County and will feature renowned
artists and groups like P-Unit. Top DJs like Crme De
la Crme and Protg will keep the partygoers on the
dance oor. A standard ticket to the event is selling
for Sh1,800 while a VIP is going at Sh5,000.

SOUNDFEST MOTOR SHOW, NGONG RACE

COURSE
On the afternoon of Easter Saturday, motor enthusiasts will gather at Ngong Racecourse to show o
the music and entertainment systems in their cars.
At the event dubbed Soundfest Eect, cars with various music systems will play similar music at standard
volumes and the audience will vote on which system
brings out the best sound.

A young fan
tries out a
racing car at
a past motor
show, at KICC,
Nairobi. FILE

They will also vote on the beauty, classiness and

condition of the cars. Outstanding cars will win various prizes, including free fuel. Into the night, guests
will be entertained by Wyre and Kenrazy, among other
performers.
Tickets cost Sh500 and Sh800 for VIP area access. The event is organised by Solami and Reality
connection.

RELIGIOUS CONCERTS

It is a way of promoting local tourism while keeping t during Easter.

A RIDE TO THE SLOPES OF MT KENYA

For a long time, accessing the slopes of big mountains, like Mt Kenya, has been a preserve for driving
groups. But things are fast changing as event organisers like Stellah Waiganjo are getting creative and
coming up with unique ideas.
Ms Waiganjo, a former nurse, who left the profession to pursue her passion of being a mountain
guide, has organised an event dubbed Bikes, Equator and Altitude that will take place over the Easter
weekend. She promises participants a session to bond
with nature.

We will not climb up the mountain but participants will be in a position to clearly see it.
The beginning of the three-day Sirimon Edition
will kick-o in Nanyuki on Good Friday where bikers
will gather at Nakumatt shopping centre to have lunch
before proceeding to the Old Moses Camp.
At the camp, dinner will be served and Christians
will be free to have a quiet time at the camps shrine.
On day two, all riders will leave bikes at the Old Moses Camp and hike six kilometres to Likii ridge located
at altitude 3,900m. The nature trek will take riders to
Ontulii and Likii River. Riders will have lunch - provided by the organiser - then descend to the camp.
After grabbing breakfast on Sunday, riders will
proceed to Sirimon gate to sign out and ride back to

All Saints
Cathedral
will host the
Easterfest
Choral Musical
at the Trinity
Auditorium. FILE

Being a Christian holiday, churches in Nairobi will

be hosting a number of events to mark the resurrection of Christ. Traditionally, the Catholic Church will
mark the crucixion of Christ on Good Friday - an
event that will get worshippers in a sombre mood.
However, come Sunday, the service will be colourful
as Christians mark the resurrection of Christ.
On Sunday afternoon, All Saints Cathedral will
host the Easterfest Choral Musical at the Trinity Auditorium. The All Saints Cathedral Nairobi choirs will
engage the congregation in worship songs meant to
mark the victory of Christ over death.
According to Pastor David Kuria, Mavuno Church
will be hosting Undeserving Concert. The concert will
take place on the morning of Easter Sunday at Hill City
Campus Athi River and will feature music, drama and
dance. Popular gospel musicians like Atemi and Neema
will keep the worshippers entertained.
ANjanja@ke.nationmedia.com

BDLIFE | Friday March 27, 2015

Friday March 27, 2015 | BDLIFE

BDLIFE: MAIN STORY

MAIN STORY: BDLIFE

A past Party
in the Wild
event. FILE

There will
be several
concerts
throughout
the Easter
weekend.

Ole Polos in
Kajiado.
FILE

FILE

There will be
a biking event
in Nanyuki.
FILE

DJs like Crme

De la Crme will
perform at the
Hakuna Matata
festival.
FILE

Its festivals galoe on Easte weekend

Fom Eastefest choal music to iding up the
slopes of Mt Kenya, thees something fo eveybody
BY ANNIE NJANJA
aster, the oldest Christian holiday and the most
important in the life of Christians, is an annual
festival celebrating the resurrection of Jesus.
Given the joy that comes with the commemoration,
Christians from all over the world engage in activities that bring families, friends, colleagues and even
strangers together to mark the occasion.
Various events will be held in multiple towns
around the country to mark the holiday, giving everyone an opportunity to enjoy the holiday.
Below are a number of fun activities that will happen over the Easter weekend. You have one week to see
where you want to spend yours, so here we go.

Some of the activities like riding the quad bikes are

usually paid for, but we are negotiating with our hosts
for better rates, said Kathleen Matathia, Sales and
Marketing manager Green Lantern Entertainment.
Tickets for the events are going for Sh1,500 but this
is exclusive of accommodation charges, which will be
guided by individual preference.
The Storm Resort and Camping rates for cottages,
deluxe tents and manyattas is Sh9,000 and Sh14,000
for single and double occupancy, respectively, for the
two nights.
It will cost Sh3,000 and Sh4,500 to rent a single
and a double camping tent, respectively.
If one prefers to set up their own tent, the cost drops
to Sh1,500 per person.

PARTY IN THE WILD, NANYUKI

TANDAWAZI FESTIVAL, DIANI

Event organisers Green Lantern Entertainment

have promised a blast in the upcoming fth edition
of the Party in the Wild concert.
The two-night party, to be held at Storm Resort and
Campsite in Nanyuki, will be packed with activity and
promises a fun-lled Easter weekend.
The party will begin on Saturday with various DJs,
including DJ Joe Mfalme spinning the music. There
will be plenty of barbecue meats and several bonres
lit at the camping grounds will provide the needed
warmth because nights in the area can get chilly.
After a night of partying, on Sunday, merrymakers will have a variety of activities to keep them tied
down. Games like rugby, volley ball, soccer, mountain
biking, quad bike competitions and nature walks will
keep the party goers busy - or so the event organisers
promised.

Fitness enthusiasts are covered this Easter as the

Tandawazi Fitness Programme promises to keep
them busy and active. The festival of movement, art
and music, to begin on Thursday, will take place at
the Safari Beach Hotel in Diani. It will feature yoga,
salsa, drumming, African dance, zumba tness and
capoeira - an Afro-Brazilian martial art which mixes
music, dance movements and martial arts.
According to Bryan Owango, the festival director,
the festivalevent is traditionally a tness retreat but
holding the event at the coast, over Easter, will be in
line with Tandawazis eort in promoting domestic
tourism.
We have partnered with institutions in the hospitality industry and those dealing in skydiving and
water sports to give participants of the wrap party
discounts during the stay, said Owango.

Part of the games

at a past event at
Impala Grounds
along Ngong
Road.
FILE

Nanyuki town and onwards to Nairobi.

Ms Waiganjo said that only a bed and mattress
will be provided at the camp and bikers are advised
to carry a sleeping bag or beddings.
It will cost individual riders Sh15,000 and Sh9,000
for organised groups of not less than 10.

FAMILY AFFAIR, IMPALA GROUNDS, NAIROBI.

Fam esta, a family entertainment event, will be
held at Impala grounds in Nairobi on Easter Sunday.
The rendezvous will begin at noon and on the log is
an array of activities for kids. An electric train, horse

rides, bouncy castles, clowns and face painting activities will keep children entertained as the parents
engage in various activities including foosball, board
games, miniature golf and darts. To allow parents time
to enjoy the day uninhibited, children will be under
the care of attendants. It will cost Sh300 per person
to gain entry to the event.

HAKUNA MATATA FESTIVAL, OLE POLOS,

KAJIADO
The fth edition of Hakuna Matata Festival will take
place on Easter Sunday and promises revellers a fun
time out of the city. The party will be held in Graceland
Ole Polos, Kajiado County and will feature renowned
artists and groups like P-Unit. Top DJs like Crme De
la Crme and Protg will keep the partygoers on the
dance oor. A standard ticket to the event is selling
for Sh1,800 while a VIP is going at Sh5,000.

SOUNDFEST MOTOR SHOW, NGONG RACE

COURSE
On the afternoon of Easter Saturday, motor enthusiasts will gather at Ngong Racecourse to show o
the music and entertainment systems in their cars.
At the event dubbed Soundfest Eect, cars with various music systems will play similar music at standard
volumes and the audience will vote on which system
brings out the best sound.

A young fan
tries out a
racing car at
a past motor
show, at KICC,
Nairobi. FILE

They will also vote on the beauty, classiness and

condition of the cars. Outstanding cars will win various prizes, including free fuel. Into the night, guests
will be entertained by Wyre and Kenrazy, among other
performers.
Tickets cost Sh500 and Sh800 for VIP area access. The event is organised by Solami and Reality
connection.

RELIGIOUS CONCERTS

It is a way of promoting local tourism while keeping t during Easter.

A RIDE TO THE SLOPES OF MT KENYA

For a long time, accessing the slopes of big mountains, like Mt Kenya, has been a preserve for driving
groups. But things are fast changing as event organisers like Stellah Waiganjo are getting creative and
coming up with unique ideas.
Ms Waiganjo, a former nurse, who left the profession to pursue her passion of being a mountain
guide, has organised an event dubbed Bikes, Equator and Altitude that will take place over the Easter
weekend. She promises participants a session to bond
with nature.

We will not climb up the mountain but participants will be in a position to clearly see it.
The beginning of the three-day Sirimon Edition
will kick-o in Nanyuki on Good Friday where bikers
will gather at Nakumatt shopping centre to have lunch
before proceeding to the Old Moses Camp.
At the camp, dinner will be served and Christians
will be free to have a quiet time at the camps shrine.
On day two, all riders will leave bikes at the Old Moses Camp and hike six kilometres to Likii ridge located
at altitude 3,900m. The nature trek will take riders to
Ontulii and Likii River. Riders will have lunch - provided by the organiser - then descend to the camp.
After grabbing breakfast on Sunday, riders will
proceed to Sirimon gate to sign out and ride back to

All Saints
Cathedral
will host the
Easterfest
Choral Musical
at the Trinity
Auditorium. FILE

Being a Christian holiday, churches in Nairobi will

be hosting a number of events to mark the resurrection of Christ. Traditionally, the Catholic Church will
mark the crucixion of Christ on Good Friday - an
event that will get worshippers in a sombre mood.
However, come Sunday, the service will be colourful
as Christians mark the resurrection of Christ.
On Sunday afternoon, All Saints Cathedral will
host the Easterfest Choral Musical at the Trinity Auditorium. The All Saints Cathedral Nairobi choirs will
engage the congregation in worship songs meant to
mark the victory of Christ over death.
According to Pastor David Kuria, Mavuno Church
will be hosting Undeserving Concert. The concert will
take place on the morning of Easter Sunday at Hill City
Campus Athi River and will feature music, drama and
dance. Popular gospel musicians like Atemi and Neema
will keep the worshippers entertained.
ANjanja@ke.nationmedia.com

10

BDLIFE | Friday March 27, 2015

BDLIFE: EASTER SPECIAL

Burglar
opening a
door. AFP

How to secue you home if going on holiday

Adopt measues that will ensue you dont
become an easy taget fo ciminals

hile families are looking forward to

going away for the Easter holiday
next weekend, burglars are busy
preparing to steal from unoccupied homes.
Few situations are worse than returning from
a long weekend away to nd that thieves have
broken into your apartment, or house during your absence.
To avoid a disappointing end to your
Easter break, it is important to take measures to ensure that your property is not an
easy target for criminals. Here are some basic precautions which will give you peace of
mind while you are away.

Ensure your home looks occupied

If there is no one taking care of your home
while you are away, make sure that it looks
occupied. A parked car at a strategic place
which can be viewed from outside your
compound helps to deter casual burglars
by giving the impression that there is someone at home.
It is worth investing in timers to switch
lights on at night and o in the morning. This
will also enhance your security throughout
the year so its a worthwhile investment.
Giving your home an occupied look
should not be at the expense of closing curtains and blinds to prevent viewing the contents of the home.

Know your neighbours

It is important to know your neighbours

and have a good relationship with them so

can keep a look out for you while you are
away. This is good because they will be alert
to any movements around your home when
they know you are away.

Intruder alarm system

An intruder alarm is a worthwhile investment, but it should be serviced on a regular
basis and tested before your absence. Nothing as bad as thinking you are covered white
the gadget is faulty.
Make good use of your alarm system and
leave it on before your departure. If you have
servants staying in your compound, ensure
they do not have the code for your alarm
system which should be a closely guarded
secret.

A strategically parked car can deter burglars . FILE

Do not allow strangers in your home

Throughout the year, be careful who you
allow into your home. Do not allow people
you do not know to walk in and out of your
home. Always see who is at your door, or gate
before allowing them to enter.
It is important to check the credentials of
strangers requesting entry for whatever services because some criminals pose as technicians, or sales representatives to gain access
and plan a burglary.

Lock all doors and windows

A burglar looking through a glass door.

AFP

Check that all your doors and windows

are locked properly to avoid opportunistic
burglars from having an easy time entering
your house. An intruder alarm system should
have vibration sensors on doors and windows
to detect any thrust from outside and alert

your security provider.

Safeguard valuables
If you have expensive jewellery and other
valuables, you might consider moving them to
a safe deposit in a bank when you travel. Otherwise lock all your valuables and important
documents in a strong home safe.

Secure garages and sheds

If you have a garage, or a shed lock up garden tools and ladders that could be used to
force entry into your home, make sure these
are not left open. It is worth remembering that
garages are often targets for burglars looking
for bicycles, gardening equipment and tools
such as loan movers and such.
-Securex Agencies

Friday March 27, 2015 | BDLIFE

11

BDLIFE: HEALTH

What you need

to know about
pins and needles
The symptoms can appea as a tingling
o pickling sensation on hands and feet
DR MUKUHI NGANGA

ins and needles are a common phenomenon which most of us are familiar with even though we may not know
thats what they are called.
They can sometimes be accompanied by
other symptoms such as pain, itching and
numbness. In most cases, pins and needles
are a temporary annoyance.
However, in some cases, they can be severe,
even debilitating.

This often happens after youve

been in an awkward sitting or sleeping position, such as crossed legs
or falling asleep on an arm. Putting
weight on a body part (for example,
by kneeling) or wearing tight shoes
or socks can also cause temporary
cause numbness and pins and needles. Temporary pins and needles
can be eased by simply taking the
pressure off the affected area. This
will allow your blood supply to return, relieving the numbness or tingling sensation.

Diabetes
Diabetes is one of the most common causes of peripheral neuropathy in the world. It damages the
small blood vessels that supply
nerves to the ngers and toes. In
most cases, the rst symptom is
pins and needles, numbness or a
burning sensation in both hands and
feet. If the blood sugar is not wellcontrolled, the nerve damage gets
worse. In some cases, the nerve
damage is so severe that the person loses sensation in both feet and
hands. It is not unusual to have diabetics come into hospital with cuts,
pricks and burns to their hands and
feet yet they cannot tell when exactly when they got injured because
they did not feel it.

Diet issues
Vitamins and minerals are crucial
for healthy nerves. In particular
vitamins E, B1, B6, B12, and niacin

are of vital importance. These nutrients are obtained from plants, vegetables, nuts and meat products.
Groups that are particularly vulnerable to deciencies are alcoholics, people who have had stomach
surgery and people who tend to eat
large amounts of carbohydrates
with little vegetable/fruit/meat intake and those who go on fad diets.

Alcohol abuse
Alcohol abuse can damage nerves
(a condition known as alcoholic neuropathy). In addition, alcoholics are
more likely to have vitamin B1 deciencies which are also associated
with neuropathy. The vitamin deciency is thought to be due to poor
feeding habits.

Trapped nerves
A slipped disc or back problem can
put pressure on a nerve that travels
from your back, down your leg and
into your toes. This results in shooting pains down your leg. A slipped
disc in your neck can also cause the
same type of shooting pain down
your arm. A trapped nerve at the
wrist can give you pain, numbness,
pins and needles in your hand. It can
also cause a loss of grip (you nd
that you can no longer give someone a rm handshake or hold a cup
or spoon easily).

Trauma-related issues
During an accident or a fall, nerves
can be compressed, crushed, or
damaged, resulting in constant pain,

Pins and needles are a tingling or prickling sensation that is often felt in the hands
or feet. They can sometimes also appear as
a burning sensation or shooting pains that
travel down an arm or leg. This happens
because pressure cuts o the blood supply
to nerves that carry messages about sensation to the brain. Persistent pins and needles,
burning sensations or numbness is medically
known as peripheral neuropathy.

What can you do to reduce pins and

needles/numbness?

What causes pins and needles?

Everyday activities

What exactly are pins and

needles?

numbness and pins and needles. A

dislocated bone can also press on a
nerve and damage it.

Medical conditions
These include kidney disorders,
liver disease, hormonal imbalances
(like an underactive thyroid), lupus,
rheumatoid arthritis, and diseases
of the brain. These include stroke,
brain tumour, multiple sclerosis and
brain infections. Growths (including
cancers) in the neck, armpit, pelvis,
arms and legs can press on nerves
and lead to pins and needles.

Occupational hazards
and toxins
People who use vibrating tools a lot
may also develop nerve damage and
may experience pins and needles.
These include people who use welding and drilling equipment. People
also exposed to toxins such as lead,
arsenic, mercury and some industrial and environmental chemicals
can also develop unusual sensations
over time.

Infections
Certain infections affect the nerves
(usually permanently). These include HIV/Aids, Lyme disease, shingles and herpes.
Drugs used to manage cancer, viruses (including HIV) and certain
antibiotics have also been associated with pins and needles and
numbness.

Watch your wardrobe: Remove any tight clothing/

shoes if you get numb. Avoid wearing them in future.
Keep changing your position: If you get pins and
needles, get up and shake the limb if you have been
sitting/leaning on it for a long time. Go for a short
walk.
Work on your diet: Look for foods rich in vitamins
B1, B6, B12, E and niacin. If you feel you are not getting
enough despite trying to eat healthily, talk to your doctor about taking supplements (usually in tablet/capsule
form). Nutritionists are also invaluable in helping you
nd the right dietary balance for you and your family.
It is in the best interest for all diabetics to be reviewed
by a nutritionist on a regular basis. Apart from improving symptoms associated with peripheral neuropathy,
a good diet can reduce the amount of medication you
need to control your diabetes.
Avoid excess alcohol: Limit your drink maximum
to 2 units per day (for men) and 1 unit per day (for women). This amount should be reduced (or completely
eliminated) if you have another health condition such
as kidney or liver disease.
When to see your doctor
All people with long-standing medical conditions
such as diabetes, stroke, lupus etc. need to be in constant touch with their doctor. When medical conditions
are well-controlled, the likelihood of getting severe
peripheral neuropathy is reduced.
If you are seeing a doctor for the rst time, he/she
will take a thorough history of your symptoms and
look for any clues on your body that might give them
an idea of what is going on in your body. In most cases,
a few tests will be done.
Successful treatment depends on an accurate diagnosis and treatment of the underlying cause of the
pins and needles/numbness.
In cases where the nerves are damaged, the doctor may prescribe some medication to reduce the
symptoms.

12

BDLIFE | Friday March 27, 2015

BDLIFE: CULTURE AND THE ARTS

MUSIC

Nigeian supesta Davido set to ock Kenyans Satuday

BY BILLY ODIDI
The excitement among music fans ahead of
this weekends performance by one of the biggest new stars of African pop music reects the
current dominance of Nigerian music.
The Afro beats Festival at the Carnivore
Grounds tomorrow will be headlined by young
Nigerian star, Davido, winner of multiple awards
in the last one year including BET Best African
Act and MTV Africa Best Artist 2014. His songs
including Skelewu, Aye and Owo ni Koko
have become anthems on dance oors across
African cities and the Diaspora.

Afro Beat
There has been a resurgence of Nigerian
music in a way that is reminiscent of the dominance that icons like Fela Kuti, the pioneer of
Afro beat, King Sunny Ade, King of Juju music
and Prince Nico Mbarga composer of the classic Sweet mother, had on African music in the
1970s and 1980s.
Nigeria has always been a major cultural
inuence on Africa and the rest of the world,

whether through its music or the

lms churned out of its Nollywood
industry.
Since the death of Fela in 1997,
the mantle has been carried by his
sons, Seun and Femi, who both play
a brand of their fathers Afro beat
grounded on radical political and
social messages.
However, the identity of
the new generation of Nigerian performer very different from Fela confrontational posture. Instead, these
20-something-year-olds are
unashamedly amboyant
with a reputation for jet set
lifestyles shown o in the expensive music videos shot in
various world cities.
The only eeting similarity to Fela is in the name given to the music, Afro beats,
with the plural added to
distinguish it from the older

Davido performs Aye,

one of his most popular
songs. PHOTO: CYRIL NDEGEYA

brand.

17 million
viewers
While this generation of Nigerian pop is widely known as
Afro beats, Davido now prefers
to call his style Afro house.
Performers like DBanj, P
Square and Davido have become
international superstars, thanks
to clever marketing especially
on the Internet and support
from the huge Nigerian Diaspora.
Google named Davido the

most searched Nigerian artist in 2014 and the

video for the song Aye was the most watched
Nigerian music video in 2014 with 17 million
views so far on YouTube.
However, to attribute the current
wave of Nigerian music success purely
to numbers would be to ignore the quality of their music, which is contemporary
and edgy but still retains strong elements of
highlife and other cultural West African folk
rhythms.

Atlanta
Davido, who performs at the Carnivore tomorrow, Saturday, is the poster boy of the new
Nigerian superstar. Born in Atlanta, Georgia
in the U.S as David Adedeji Adeleke, this son of
billionaire businessman Dr Deji Adeleke, was
raised in Lagos, Nigeria and rst became involved in music at the age of 13.
His rst album Omo Baba Olowo (Son of a
rich man in Yoruba) Genesis was released in 2012
and was nominated for Album of the Year at the
annual Nigerian music awards, the Headies.
He has used his star power to record pan-Af-

ART

Why Naiobi is cuently

the main focus of ne at
Those coming fo at esidency at Kuona
and othe galleies ae excelling in thei at
BY MARGARETTA WA GACHERU

tavros Pavlides had only been in Kenya

six weeks when Kuona Trust gave him
his own one-man show in its cosy exhibition hall. But as the Greek American artist is
currently doing an art residency at the Trust,
that makes sense.

Nightlife
What is surprising is the way he was so quick
to pick up on the nuances of Nairobi night life
in his nine oil paintings. Nairobi Nocturnes re-

Michelangelo with one of his wood panels in

Mwebes studio in Karen, his panels will be at
Nairobi Gallery from March 29.

A wood panel in relief by Michelangelo in Mwebes

studio in Karen.

Stavros with his

painting titled
Dashboard
ALL PHOTOS BY MARGARETTA WA GACHERU

ects a familiarity and fresh view of our city after dark thats devoid of clichs and lled with
magical moments that compel one to look at the
city in a new light.
In fact, the artist works a lot with light and
shadow in this show. Theres a good deal of darkness as well, but the black textured paint serves
to accentuate the stunning images that hes seen
and captured, rst in photographs and then with
his chiaroscuro-ed paintings.
The speed with which Pavlides has created
such a substantial body of work seems uncanny,
especially as his rst week out of the six was spent
just getting acclimatised to his new environment.
But the artist is happy to demystify the process by
which he created his provocative paintings.

Traic jam
I took something like 600 photographs of
the city in a relatively short time. Then I went
through them and selected 20 that I liked best.
Out of those, I worked with approximately 10,
he explained.
But it wasnt as if he painted duplicates of
what he had spontaneously snapped, since, he
says his paintings sometimes are composites of
more than one snap. He also improvises and adds
elements of shadow, colour and shade which enhance the magic and the mystery that seems to
be part and parcel of Nairobi after dark.
Given that all the painting are, in a sense,
framed in darkness, one of his most magical
works is of an open doorway into one artists stu-

dio at Kuona Trust. The woman

standing at the entrance seems
Stavros Late
infused with expectation, espeNighting at
cially as the light from within the
Kuona.
studio space seems to beckon,
PHOTOS BY MARGARETTA
suggesting theres a lot going
WA GACHERU
on inside.
The painting that seems to
reect one experience that almost every Nairobian has had
is entitled Dashboard. Anyone
whos travelled by bus, matatu
or private vehicle any time after
dark has surely encountered an
excruciating trac jam, meaning one in which all
the vehicles are bumper-to-bumper with no one
wanting to cede his space to his fellow driver to
proceed. Only one pedestrian is in motion in the
work, snaking between tight spaces to suggest
that at least one is sure to make it home.

Musician
Born in the US but brought up in Athens,
Greece, Pavlides went to university in the States,

Friday March 27, 2015 | BDLIFE

13

CULTURE AND THE ARTS: BDLIFE

FASHION
AFRO BEATZ FESTIVAL 2015
Featuring Davido of Nigeria
Performer of the hit song Aye
Venue Carnivore Grounds
28th March 2015 from 6pm
Today is the last day for sale of advance
tickets at ticketsasa.com
Sh2,500 Arena, Sh4,000 Golden circle
and Sh8,000 VIP.

rica collaborations with various African stars

like South Africas Makizolo and Tanzanian
star Diamond. He also runs his own stable of
Nigerian artistes under his production company, HKN Music
However, the release of his second album
that was anticipated last year was put o to
an undisclosed date in 2015.
At only 22, he has since eclipsed his compatriots like DBanj and P Square to become
easily the most in-demand artist across Africa
at the moment.

Since the start of the year, he has already

performed in Ethiopia, Cameroon and Malawi and arrived in Nairobi this week from a
recording session in the U.S.
Last year, the young star completed his
studies and graduated with a Business Administration degree from Babcock University in
Ogun State, Nigeria, the institution where his
mother taught until her death in 2003.

Brand ambassador
With his superstar status and large following, Davido is an advertisers dream with major
companies falling over themselves to get his
signature. He is currently a brand ambassador
for the telecommunications giant MTN in a
deal signed in 2012 for a reported 30 million
naira (Sh13.8 million.) The following year, he
and other Nigerian stars entered into a concert agreement called World of More with
Guinness and in November 2014 he signed a
multi million Naira endorsement deal with
Close Up toothpaste.
Davido is the star performer at tomorrows
Afro Beats Festival at the Carnivore Grounds
from 6pm. Advance tickets are available online at ticketsasa.com for Sh8,000 VIP and
Sh4,000 for the Golden Circle.

Currently based in Brooklyn, the artist who admits hes a nocturnal being who
loves urban night life whether in Athens,
Manhattan or Nairobi, also works evenings
in New York where he earns his bread and
butter as a guitarist playing with two rock
bands.
So the discovery that Pavlides is also
a musician gives one insight as to the exhibitions title since a nocturne is a musical piece. And anyone whos spent time in
Nairobis CBD after dark will know there
are always strands of music wafting in the
wind all around the town.

Apprenticeship

but his early education was grounded in

the inescapable elements of classical Greek
antiquity. That could explain why he ultimately became an artist despite his rst
university degree being in critical theory.
Shifting from North Carolina to New
York City, he went for a second university
degree in ne art from the acclaimed School
of Fine Art.

Ugandan designe Sylvia

Owoi back in Naiobi

One place in town where the music

isnt quite so loud is the Nairobi Gallery
(next to Nyayo House) where Michelangelo
Mwebe joins his father Expedito and Elkana Ongesa in an exhibition of wood and
stone sculptures that opens this Sunday
from midday.
Both Mwebes work in wood creates
carefully carved art that are not only
in Nairobi Gallery but also scattered all
around East Africa.
In contrast to Pavlides whos been formally trained in ne art from childhood,
Michelangelo has also been trained to
sculpt, carve and paint from a very early age
only that his schooling was in the form of a
lifelong apprenticeship. Hes been taught by
one of East Africas nest artists who also
happens to be his own father.
Having worked on practically all of his
fathers art projects and commissioned
works from childhood, Michelangelo
never doubted what line of work he would
pursue. At Nairobi Gallery, the son is overshadowed by his dad but enough of his art
will be on display for all to see that hes just
as gifted as his father.

BY MWIKALI LATI

ne of East Africas well-known fashion designers Sylvia Owori from Uganda is making a
comeback to Nairobi. Ready-to-wear pieces
and others from her recent collection, Afropolitan,
will be selling at the Mofti Store, at the New Muthaiga Shopping Mall.

Accesories
Eager to get back into the Kenyan market which
has shown an appetite for fashion from other African
designers, she recently got in touch with Mot.
I love that as a concession store that carries several designers work, its a one-stop-shop. That in
itself is convenient for people looking to buy local
designs and with that, brand visibility is boosted,
says Sylvia.
The shop opened last year is so far carrying nine
brands of clothing and accessories from dierent
designers that complement each other.
The Sylvia Owori brand, like the other brands
we have on board at Mofti, oers an interpretation
of the material goods that are complimentary to urban African living. Sylvia Owori got in touch with
us and we were happy to have her on board, says
Katungulu Mwendwa, one of Kenyas top designers
and owner of the shop.

Location
This Ugandan brand, which stands for timeless
ethical fashion, is the second after Lalesso from South
Africa to be carried in the shop.
I had a store in Kenya before but closed down
because the premises that were a residential house
were going to be converted into apartments and we
could not get an ideal store location at the time,
says Sylvia.
As she explains, ethical fashion is an umbrella
term to describe ethical fashion design,
production, retail and purchasing. It
encompasses a range of issues such
as working conditions, exploitation,
fair trade, sustainable production,
the environment, and animal
welfare.

Ready-to-wear
Our design aesthetic
is bold with an approachable take on pret-a-porter
or ready-to-wear fashion.

Afropolitan collection by Slyvia Owori during the

2014 Africa Fashion Week London
PHOTO COURTESY OF MWIKALI LATI.

Pieces are crafted with acute attention to detail and

expert tailoring, says Sylvia. The Sylvia Owori woman is todays urban yet afro-centric woman.
This continues to reect in her 2014 Africa Fashion Week London collection Afropolitan which was
inspired by journey from line to structure. According to a write-up on the collection, it aesthetically
represents the ideal marriage of urban and indigenous elements in fashion. The tropical colour palette comprises of bold and tastefully-blocked hues
of yellow, green and blue. The accessories were also
bold in colour, size and design.
mwikalilati@gmail.com

The Sylvia Owoi band, like the othe bands we

have on boad at Mofti, oes an intepetation of
the mateial goods that ae complimentay to uban
Afican living. Sylvia Owoi got in touch with us and
we wee happy to have he on boad,
Katungulu Mwendwa

14

BDLIFE | Friday March 27, 2015

BDLIFE: EAT OUT

You guide to eating

out duing Easte
Indulge you culinay senses as you enjoy the
long weekend with family and fiends
BY EATOUT EDITOR

or many, Easter weekend extends beyond

the important religious celebrations and
is seen as a good time to enjoy the company of loved ones. Peopleyoung and old, single
or marriedcan be found embarking on short
trips to the coast or enjoying hearty lunches with
family. Whichever way youre choosing to do it, if
you still havent made any plans for the weekend
take a look at this short guide for some exciting
options. Happy Easter!
BEST WESTERN PREMIER NAIROBI
April 3rd: Good Friday brunch and jazz from
11:30 15:30 at Sh3500/- per adult and Sh1750/
- per child between 8 and 12 years, at Pablos.
April 5th: Bulleit Bourbon Easter Sunday Pool
Party from 12:00 22:30 at Mezze on the Deck.
Accommodation specials available. Bookings:
020 292 7000.
CROWNE PLAZA
Kids under 12 years eat and stay free.
Sh15,000/- for 2 adults and 2 kids for 2 nights
including breakfast, Easter brunch, 20 per
cent o spa and free access to fun room. Easter
Brunch at Sh2,000/- per adult also with free access to fun room. Fun room includes egg hunt,
face painting, movie time, dancing and more.
Bookings: 020 274 6000.
NAIROBI SERENA
Family barbecue lunch, live band, Easter egg
hunt and more. Accommodation specials available. Bookings: 020 282 2000/345

OLE SERENI
Big Five Restaurant: April 3rd Seafood
Dinner at Sh4500/- per person, All Day Choma
at Sh3000/- per person on April 4th, and Easter
Brunch Buet with kids activities at Sh3500/per person on April 5th. Eagles Steakhouse:
5-course dinner at Sh4500/- per person every
night from April 3rd to 6th. Bookings: 0732
191 000.
PANARI HOTEL
Red Garnet Restaurant: Good Friday buet
at Sh2800/- per person and lunch on Saturday,
Sunday and Monday at Sh2500/- per person.
Black Gold Caf: special menu at Sh1800/- per
person from Good Friday to Easter Monday. All
lunch oers include 1-hour ice-skating session.
Kids oer: Face masks, face painting and blowouts, unlimited play time at Kids City and 1 hour
ice skating at 1200/- per person. Accommodation
specials available. Bookings: 020 294 6000.

Eagles Steak House at Ole Sereni

Breakfast brunch at Flame Tree Restaurant.

A meal at Pablos at Best Western

ALL PHOTOS

Tamarind Dhow Easter Lunch Cruise:

Sh2800/- per adult and Sh1400/- per child under 12 years, between 13:00 and 15:00 on April
4th, 5th and 6th. Easter Eve Booze Cruise, April
2nd, Sh1500/- per person, includes welcome
drink, dj on board. Special wine and food pairing dinner at Tamarind Restaurant on April 4th.
Accommodation specials available. Bookings:
O41 4471 747.

SANKARA
Easter Family Brunch: Sweet and savoury
delights from traditional favourites to a live
cooking station including unlimited Prosecco
with live music at Sh3500/- per person. Kids 5
12 years at half price. Accommodation specials
available. Bookings: 020 420 8000.
SAROVA PANAFRIC
Indulge in chefs special Easter menu all
through the Easter break. Spend your Thursday evening enjoying their succulent steaks and
discounted drinks, and celebrate Easter Sunday
with the delicious Flame Tree breakfast spread.

TAMARIND MOMBASA

A treat at the Tribe Brunch table.

ALL PHOTOS COURTESY EAT OUT

Accommodation specials available. Bookings:

0709 111 000.

TRIBE HOTEL
3 nights in 2 rooms for 2 adults and 2 kids at
USD 940 (Sh86,480) or 1 night in 2 rooms for
2 adults at USD 250 Sh23,000). Price includes:
In room candy bar, cookie decoration for kids,
Easter egg hunt, arts and crafts, Easter movie
night and Easter Sunday brunch. Bookings:
020 720 0000.

PUB REVIEW

Fish and bee by the lake

BY JACKSON BIKO

o you nd yourself in Kisumu.

Lets say its a Friday. You have
had your meetings and you have
a chance to go for lunch at the hotels
restaurant with other suits where you
will be served by those waiters with
sti uniforms again. You need to ditch
them. Run away from that dull plan.
Who wants to do that tasteless tomato
soap again? Who wants to sit next to
the boss and listen to his drivel again?
Wait, are you the boss? Well, you should
take o all the same. Leave everybody
to breathe normally.
Go to Tilapia Beach. Its next to the
lake. Its open air. Its the breeze from
the hills. This is what you need after
listening to gures. You need fresh air.
Lots and lots of fresh air. It will clear all
the corporate dreg you have fed your

mind. Now order sh. It will be fried

and then stewed. It will be succulent
and tasty because it will be fresh. It will
take 15 minutes before it gets to your
table and when it nally does, you will
be grateful.
Have it with ugali, using your bare
hands. After you are done, wash your
hands, and squeeze some lemon on it
and then sit back and order a very cold
beer. In fact, you might as well have all
the beers you want there.

Riat Hills
Its the perfect place to unwind. Because its unpretentious and the view
is stunning. You will watch planes land
and take o across the lake at Kisumu
International Airport looming behind
the golf club. Framing this are the Riat
Hills, that have now been inhabited by

Beers are only Sh200 a bottle. You might

not be able to get international brands
though. Whiskies are there, but mostly
by the bottle.

TILAPIA
BEACH
HOTEL

Beer: Sh200.

Breezy

Whisky:
Sh4,400.

Tilapia beach hotel Kisumu. COURTESY JACKSON BIKO.

houses, making it look ugly and shiny.
The best part? There will be Rhumba
music blaring from a speaker at the edge
of the establishment. The music is excellent for this kind of a tableau. The
age group agrees. Mostly middle-aged,
mostly little groups of people who want
a relaxed time.

The sh is a bit on the expensive

side, if you ask me. A decent sh for two
will set you back Sh1,600, with accompaniments. That is too expensive for a
place right by the lake, yes, but you are
paying for the view and the music and
there will be no hawkers dangling underwear in your face for Sh200 apiece.

The selection isnt too wide, but

youll nd Johnnie Walker Red and
maybe Black. For as low as Sh4,400
you can get a decent bottle of whisky.
Wine is by the glass, but its wine from
the box, which is something you might
want to avoid altogether, unless you
dont mind a headache.
Dont bother going here at night.
It loses its luster. Gets too breezy. The
lake is too dark and ominous at night.
It just feels spooky.
Nonetheless, its still a great place
to unwind when in Kisumu. You dont
even have to love Rhumba, or sh, or
hills peppered with shiny roofs, all you
have to focus on is the mood of the lake.
It helps with digestion.

Friday March 27, 2015 | BDLIFE

15

BDLIFE: MIND GAMES

QUICK CROSSWORD
ACROSS
1 Pudding(7)
8 Eire(7)
9 Skids (anag.)(5)
10 Emphasise (9)
11 Devon river (3)
12 Indian corn (5)
13 Yawned (5)
14 Pair (5)
16 Criminal group (5)
19 Doves call (3)
20 London street (6,3)
22 Stir up (5)
23 Not prepared (7)
24 Drive back (7)

17

18

SUDOKU

219

WORD WHEEL

511

Insert the missing letter to complete an eight-letter word

reading clockwise or anti-clockwise.

8
9
10
11
12

14

13

15

16

19
20

DOWN
1 Bumper car (6)
2 Method (6)
3 Cherish (8)
4 Smart (6)
5 Orange skin (4)
6 Replace receiver (4,2)
7 Revised (6)
13 Put in coloured
paper (4-4)

0904

21

CODEWORD

22
23
24
17 Genuine (6)
18 Shove (6)
21 Two pages (4)

14 Person from western

Pyrenees (6)
15 Braved (anag.) (6)
16 Victim of suffering (6)

3177

Each number in our Codeword grid represents a different

letter of the alphabet. For example, if 18 represents C,
ll in C every time the gure 18 appears. You have two
letters in the control grid to start you off. Enter them in
the appropriate squares in the main grid, then use your

knowledge of words to work out which letters should go

in the missing squares. As you get the letters, ll in other
squares with the same number in the main grid and control
grid. Check off the list of alphabetical letters as you identify
them. SOLUTION appears in Business Daily on Monday.

TIMES CROSSWORD 24,020

WORD BUILDER

525

How many words of three or more letters, including plurals, can you
make from the ve letters, using each letter only once? No foreign
words or ones beginning with a capital are allowed. Theres at least
one ve-letter word. Good = 16; Excellent = 22; Amazing = 29

ACROSS

disreputable (7)

1 Ornately, it cheers with

star around midwinter,
primarily (9,4)

17 Famous scientist
Newtons left ship circling
island (7)

9 Returning to France, the

leading group of ghting
sailors (5)

19 J udge eyepiece to be
funny (7)

10 The girl will angle for a

provider of pearls? (9)
11 Customs introducing
some charges at border, to
a certain extent (4,2,4)

20 Old vessel found in

Cheddar Gorge (4)
21 Do they make topping
spread on warm kippers?
(10)

12 Shed tears over second

person in charge (4)

24 Hot and cold, the

Spanish get quiet greeting
in Washington (9)

14 River mammal covering

area of Tay is close to
collapse (7)

25 Entertain a timid
person not getting in a
round (5)

16 Flyers having chum,

say, thats attractively

26 Performer who wont

go straight to work (13)

DOWN
1 Campaign he organised
with Tory lm units work
(14)
2 Wild partygoer seen in
ri ht state (5)
3 Cause of food
poisoning? Fish pieces
kept in cellar (10)
4 Note spread which is
wrongly placed on the
table? (7)
5 He wrote half of sermon
about what may separate
the sheep from the goats
(7)
6 Rivers not right its a
stream (4)
7 Surge of feeling raised

by college said to be
matter of opinion (9)
8 Centre built with two
shops internally lit at
night? (14)
13 Informed enthusiast
nding answer to timeless
lie with dif-culty (10)
15 Coming over on
the tube line, get niece
travelling (9)
18 Herb is a source of
minerals used with Goan
cooking (7)
19 Chap getting over
cannabis is more than just
change for the better (7)
22 Give time of day to one
beautiful young woman (5)
23 Son is able to read (4)

TRIO

509

These four words can be completed using the

same three-letter sequence. Can you nd it?

YESTERDAYS SOLUTIONS
SOLUTION FOR TIMES
CROSSWORD 23,534 AT LEFT
YESTERDAYS SUDOKU AT
RIGHT
SOLUTIONS FOR QUICK
CROSSWORD. WORD WHEEL,
CODEWORD, WORD BUILDER
AND TRIO WILL APPEAR IN
BUSINESS DAILY ON MONDAY

16

BDLIFE | Friday March 27, 2015

BDLIFE: WEEKLY PLANNER

WHATS ON THIS WEEK
Art
The Painting-Weekend with Wizzy:
Sandai Homestay and Cottages, March
27th until 29th. A weekend where you
can create beautiful jewellery for friends,
family or yourself.
Paint Me Music!: Creatives Garage,
March 28th. Musiq City presents Paint
Me Music where music meets grafti.
Two African Artistic Geniuses:
Nairobi Gallery, March 29th. You are
invited to a special viewing by: Two
African Artistic Geniuses. Elkana Ongesa
and Expedito Kibbula.
Art Exhibition: Concerning the
Internal: Circle Art Agency, March 26th
- April 9th. Featuring works by Delphine
Buysse, Miriam Syowia Kyambi, Jackie
Karuti, Xavier Verhoest, Souad Abdel
Rasoul and more.
Ink and Smoke on Paper: Red Hill Art
Gallery, until March 29th.
Nairobi County Visual Arts
Exhibition - Manjano: The Village
Market, until March 29th. The exhibition
is a show of paintings, sculptures and
mixed media works from established
artists and students all based in Nairobi.
Celebrating Women With Art:
Creativity Gallery, Nairobi National
Museum, daily until March 31st.
Spirou de main en main by The
Embassy of Belgium: Alliance
Franaise, Nairobi, March 31st, Spirou is
the longest-running and one of the most
iconic European comic magazines.
Longinos Nagila & Fawaz El Said Art
Exhibition and Sale of Works: Karen
Country Club, daily until April 1st.
Nairobi Nocturnes: Kuona Trust, until
April 2nd.
Theatre
Stories Spoken-Literature Forum:
Goethe-Institute, until March 28th.
Brings together upcoming women
writers and literary critics to share and
discuss stories, poems, and current
literary trends with the aim of enhancing
their creativity.
Art by Yasmina Reza: Alliance
Franaise, Nairobi, March 28th.
Translated from French, the play focuses
on the meaning of art and friendship.
Dont Let Me Go: Alliance Franaise,
Nairobi, until April 19th.
Kenya Kona Comic Sundays: Club
Hypnotica, Sundays. Featuring seasoned
comics like Dr. Kingori, Zuleka, YY, Oyoo,
Moch Mpienga, the Badd boys of Kenya
Kona and many more.
Open Mic Nite: The Blues Restaurant,
Hurlingham every Friday.
Auditions for Dreamgirls Musical:
Nairobi Piano Centre, March 28th. We
are looking for male and female actors
who can sing, act and dance.
Dance
Detour Friday Night Dance: Southern
Sun Mayfair, until May 23rd.
Afro-Dance Workshop : The Theatre
Company, Thursdays. Come learn
dances that have African inuence
found in other countries, such as Brazil,
Colombia, Cuba, and Haiti.
Kizomba Nite: Heartz Pub and
Restaurant. Every Saturday.
Zumba Fitness: Sarabi Pool and Supper
Club, Saturdays at Sankara Nairobi.
Capoeira Angola Classes: Y.M.C.A

entertained by a live band, this week

weavers band.
Jazz Nite Tuesdays: K1 Klub House,
every Tuesday. Entertainment by the
greatest jazz maestro in town...Mwai
and the ultimate band.

Movie Premier of the Week

DANNY COLLINS
An aging rock star decides to change his life when
he discovers a 40-year old letter written to him by
John Lennon.
Genre: Drama, Comedy
Cast: Melissa Benoist, Al Pacino, Christopher
Plummer

Kenya - Central Branch, every Monday

and Wednesday.
Hip Hop Dance Classes: ABC
Place, Wednesdays.
Viva Espana Salsa Night: Artcaffe
Restaurant - The Oval. Fridays between
9pm and Midnight.
Contemporary Dance Classes: ABC
Place, Every Monday.
Hip Hop Dance Classes: ABC Place
Wednesday.
Zumba with Magic Mike : The Oshwal
Sports Complex, Wednesdays.
Expositions
India Expo 2015: Kenyatta International
Conference Centre, March 27th.
Auto Bazaar: All About Cars: Thika
Road Mall, 12th April.
Festivals/Craft Fairs
Maasai Market: Fridays at Village
Market, Saturdays & Sundays at High
Court Grounds; Sundays at Yaya Centre,
Wednesdays at Capital Centre, Mombasa
Road.
High Court Grounds Maasai Market:
High Court Grounds, Wednesdays. Taking
place across various locations in Nairobi,
the Maasai Market is vibrant and the
place to get beautiful sculptures, shoes,
jewellery, clothes and a huge selection of
other Kenyan crafts.
The Crafts Market: City Mall,
Hot Event of the
Week
Back Bends & Hip
Openers: The Shine
Center, March 28th. Come
learn safe and easy poses to
open your hips, release tight
hip joints, and open your chest
- all to deepen your back bend
practice.

Nightlife
B.Y.O Wine: Brew Bistro and Lounge,
Tuesdays. B.Y.O Wine and build
your own burger at Brew Bistro &
Lounge every Tuesday from 5pm to
midnight.
Caramel Ladies Night: Caramel
Restaurant & Lounge, Wednesdays.
Whats said at a Ladies Night stays
at a Ladies Night. Join us for the
chicest of evenings. Bubbles &
Signature Cocktails. Are you one of
our #CaramelLadies ?
House Arrest Fridays: Brew
Bistro and Lounge, Fridays.
House Arrest Fridays with
DJ Protg.

Mombasa, Wednesdays & Thursdays.

The Junction Musical Maasai
Market: 3rd oor parking, the Junction,
Thursdays.
Music
Live at the Elephant Featuring
Suzanne Owiyo & Naomi Wachira:
The Elephant. March 27th . We gather to
sing and dance to the enthralling sounds
of Suzanne Owiyo and Naomi Wachira.
Music My World II Concert: Michael
Joseph Centre, March 27th. Gathoni,
Prisca Ojwang and Trina Mungai bring
you Music My World II. Joined by
Shirlyne Mmbone, Kevin Maina, Ythera
and Mayonde.
Jamboree Fest: Kenya Rugby Football
Union (KRFU) Grounds, March 28th.
Imagine-nation is doing it big once
again Nairobi as we set sail with our rst
festival of its kind in a while this 2015.
The GoDownGig: The GoDown Arts
Centre, March 28th. Nyama Choma and
Drinks on Sale.
The Write Flow: PAWA254, March 28th.
Come and watch 20 emcees -10 from
Kibera and 10 from Kariobangi - battle it
out for the top spot.
Ricky Na Maraki:The Divas Edition:
Alliance Franaise, Nairobi, March 31st.
As we continue celebrating our women,
we Ricky Na Maraki would like to invite
you to an evening of afro jazz the Divas
Edition.
Thursday
Nite
Live
featuring Nick Kosovo:
Choices Pub and Restaurant,
April 2nd. We are proud
to feature a return
appearance by Congolese
singer Nick Kosovo.
Every Thursday Live
Band: Sirville Brewery
& Lounge Thursday.
Starting this and every
Thursday, you
will
be

Sports
Lari Marathon 2015: Kereita Forest,
March 28th. The 3rd edition of Lari
Marathon will take place in the heart of
Kereita Forest on Saturday 28th March
2015.
Golf Classes: Royal Nairobi Golf Club,
every Saturday. Kasuku has played
in several Golf Tours including the
European Tour.
New Archery Range: Mamba Village
Centre, Saturdays and Sundays. We
are still at the Purdy Arms Hotel and
Restaurant and we are opening our
newest range at Mamba Village.
Roller Blading: Aga Khan Walk, every
Sunday. Looking for something fun to
do on Sunday afternoon? Learn how to
roller blade! Join us on Sunday evening
from at the Roller blading Rink at Aga
Khan Walk.
Archery Wednesday: East African
Bow Sports Ltd, every Wednesday.
Come by after school or work for an
archery lesson on our oodlit 2D & 3D
archery range.
Hockey Wednesdays: The Panari
Hotel, every Wednesday. Fun ice hockey
games.
Touch Rugby: Public Service Club,
every Wednesday. The Diani Beach
Touch Rugby is an annual tournament
held at one of the most beautiful
beaches in the World - Diani Beach.
Kids Events
Easter Egg Hunt: Little Dinosaurs
Playgroup, March 28th. Easter Egg Hunt
and Egg painting.
Tea Party: The Nairobi Art Centre, until
March 28th , 2am - 4am, Ksh3000, 0727
415678, info@nairobiartcentre.org, http:
//www.nairobiartcentre.org/. Adults and
kids for Tea party.
Easter Eggcitement: The Panari Hotel,
March 30th. Catch the Easter fever at
The Panari Hotel and treat you and the
family to an array of exciting activities.
Easter Avatar Art Workshop:
The Nairobi Art Centre, March 30th
- May 1st, 9am - 3pm, Ksh2200, 0727
415678,
info@nairobiartcentre.org,
http://www.nairobiartcentre.org/. The
workshop is designed to introduce
children to the world of Art & Crafts in
relaxed and informal environment.
MTB-Skills Camp for Children:
German School, March 30th - April 1st.
David Kinjah and his team are going to
teach your child safe riding technique,
balance, descending & ascending,
braking and bunny hopping in a fun and
secure environment.
Bumblebee Soccer Academy:
Public Service Club, Saturdays.
Bumblebee Sports and Fitness is a
sports organization that seeks to
empower children through sports and
developing their sporting abilities.
Its Swim Time: Sankara, daily.
Bring your friends and splash around
during our family swim. Week days
from 10am-2pm and weekends from
9am-4pm.
Food/Wine

Soraiyas 100 Day Wine Challenge :

The Wine Shop, until March 31st . Wine
all you want with Soraiya Ladak at The
Wine Shop this Month.
Ballatines Whisky Dinner: Sankara,
March 28th. Join us for a distinctive
tasting evening of nest blended Scotch
whisky.
Sapori Ditalia (Flavors of Italy):
Italian Institute of Culture, March 28th.
Italian vegetarian cookery lesson with
Liliana Novellino.
Pizza and Peroni Saturdays: Villa
Rosa Kempinski, Saturday. Get this; its
not a one pizza, two pizza go home kind
of thing. This is an all you can eat pizza
affair.
Special Events
Marketers Night Out: Kenyatta
International Conference Centre, March
27th. Marketing Africa Limited invites
you to the rst 2015 Nairobi Marketers
Nite.
Ram Navmi: Nairobi Gymkhana, March
28th. We cordially invite you to celebrate
this auspicious occasion of Ram Navmi.
Mindspeak
Forum:
Hotel
InterContinental, March 28th. Aly-Khan
Satchu Hosts Michael Macharia of Seven
Seas Technologies.
The Chase Foundation Walk 2015:
Ngong Forest Sanctuary, March 28th. As
corporate citizens, we all play a major
role in creating a sustainable future for
the communities we serve.
Les Rendez-Vous de la Francophonie:
Alliance Franaise, Nairobi, until March
31st. Alliance Franaise invites you to
mark this years French Language and
Francophonie fortnight.
Deloitte Career Fair: Kenyatta
University, April 2nd. Join us at our career
fair and hear from deloitte staff on how
they are making an impact that matters
to their careers, clients and the society.
Yoga
Zen Buddhist John Tarrant Public
Teaching: The Shine Center, March
30th. Guided koan meditations,
conversations and explorations about
opening the heart and mind and body.
Beginners Class: The Shine Center,
daily. The beginners classes are
designed for new students, and students
who have not practiced in a while. You
will learn fundamentals such as basic
asana, breathing, and sequencing.
Film
Nairobi Performance Series:March
Edition: Goethe-Institut, March 27th.
The Nairobi Performance Series is a
production platform that aims to support
new productions and cross-disciplinary
working methods.
Cinema Japan: After the Flowers:
Japan Information and Culture Centre,
March 28th. A screening of the movie
After the Flowers. Based on a short
story by noted historical novelist
Fujisawa Shuhei.
License To Kill: Benga House-Kyuna
Crescent, until May 16th. A lm series
inspired by the idea that individuals have
the right to take charge of their life to
improve their community and society for
a better place.

For the most comprehensive

event information in Kenya:
www.kenyabuzz.com
Tel: 0727 288 036

Friday March 27, 2015 | BUSINESS DAILY

SPECIAL ADVERTISING SECTION

PUBLIC RELATIONS SOCIETY OF KENYA

Building public relations performance through continuous training

By EVANS ONGWAE >>> eongwae@ke.nationmedia.com

ublic Relations and Communications

Management is taking on more
prominence as the discipline that is not
only responsible for managing reputations but
a profession that is central to the success of
every organisation.
Propelled
by
the
ever-changing
environment in the political, economic, social
and technological arena, the profession has
evolved from a shoot from the hip style of
management into a strategic management
function that sits at the proverbial head
table.
Gone are the days when the profession
centred on press agentry, spinning and
glamorous cocktails. To impact in this changing
environment, the Public Relations Society of
Kenya (PRSK) continues to champion and
implement diverse but strategic approaches
towards professionalisation of the PR practice
and its practitioners. The only way is up for
the Kenyan PR profession and professionals.

Enhancing the status value

of the practice and the
practitioners
The Continuous Professional Development
(CPD) programme is the denitive

Apex Porter Novelli celebrate their win for the Overall PR Campaign of the year at the
2014 PRSK Gala Awards.
commitment by PRSK to maintain high
levels of competency in the PR practice.
The CPD is not a work in isolation and
is inuenced by the 2012 PRSK baseline
survey that recommended steps required
to ll practitioners skills and capabilities
gaps so as to optimally operate as PR and
communications professionals whatever
the stage of ones career.
To bring this recommendation to life,
the 2013 PRSK members annual general
meeting passed a resolution to adopt
and reinforce the CPD programme as

a minimum professional standard for

membership renewal and accreditation
status, for example APR.
This means that it will not be enough
to pay annual subscriptions to retain
ones membership status with PRSK.
Membership will be as provided by the
PRSK Constitution and the successful
uptake of CPD activities with a member
expected to attain a minimum of 60 CPD
points per year, 40 drawn from education
and training programmes and 20 from any
other activity as may be recommended or

recognised by the society.

The PRSK CPD programme is widely
benchmarked
with
contemporary
associations that are members of the
Global Alliance for Public Relations
and
Communication
Management
(GA). The CPD content also resonates
with traditional and emerging practice
areas that are used globally to measure,
demonstrate and recognise professional
excellence. Structured as a lifelong
learning process, the pilot programme
was launched in quarter one 2014 by the
Ministry for Information, Communications
and Technology (ICT) and PRSK Patron, Dr
Fred Matiangi.
To cap the 2014 CPD season, the society
hosted its two-day annual training summit
in November. Themed Transformative
PR in an interconnected world, the
programme paid attention to the PR
landscape in Kenya; international trends
shaping PR and insights in leading edge
PR practice redening the new global
vision of the communicative organisation
that is rooted in a clear sense of character
and values, a culture of listening, and an
understanding of its responsibility.
The
sessions
featured
leading
practitioners and thought leaders from
the local industry and key note speakers
and guests from Global Alliance for Public
Relations and Communication Management
(GA).

New body for PR consultancy to boost service standards

As a business, the number of
public relations consulting
rms in Kenya has more than
doubled over the past 10
years, directly employing an
estimated 1,000 people.
Given that the rms
represent a growing substantial
amount of communication
budgets of most organisations
across the economic divide,
it is important that this
engagement be managed using
best practice process.
The
year
witnessed
the ocial launch of the
Association of Public Relations
& Communication Management
Firms (APReCoM) the
consultants chapter of Public
Relations Society of Kenya and
the forum that brings together
rms that oer business
solutions in Public Relations
consultancy in Kenya.
In
a
world
where
communication is the hallmark
of simplicity and transparency;
no longer top-down but
rather conversational, the
role of PR rms in supporting
organisations and institutions
ne-tune their communication
approaches
is
critical.
Through APReCoM, quality
standards will be raised,

ethical issues addressed and

professional PR consultancy
practice harmonised through
knowledge sharing.
As rst steps in bringing
order, accountability and most
important promoting of costeective use of resources from
both the consultancy rms
involved and their respective
clients, APReCoM has already
unveiled tools as well as a code
of ethical practice to guide
relationships between clients
and member Firms.
The tools include hiring
a Public Relations Firm and
Working with Your Public
Relations Firm. This in eect
will result in an improved
business environment which
will promote growth of the
industry.
Plans are also underway
to introduce a Consultancy
Management Standard (CMS)
that will no doubt go a long
way in ensuring that the PR
industry becomes a growth
sector that exceeds clients
expectations and adds value
through job creation.
Photos of Mr. Joseph
Tiampati ole Musuni, Principal
Secretary,
Ministry
of
Information, Communications

& Technology (ICT) and

Lawrence
Gikaru,
Chair

APReCoM launching Hiring

a Public Relations Firm and

Working with Your PR Firm

guidelines.

II

BUSINESS DAILY | Friday March 27, 2015

SPECIAL ADVERTISING SECTION

PUBLIC RELATIONS SOCIETY OF KENYA

Kenya picked to host global Public Relations conference

By EVANS ONGWAE >>> eongwae@ke.nationmedia.com

lobal focus will shift to Kenya as

the host of the premier World
Conference in Public Relations
on Emerging Economies (WCPREE) in
November 2015. The event is an initiative
of the Global Alliance for Public Relations
and Communication Management (GA)
in cooperation with the co-host Public
Relations Society of Kenya (PRSK).
Representing 160,000 practitioners and
academics around the world, GA works to
raise world standards in the PR profession,
share knowledge, develop thinking on how
communication can make organisations
and society work better. It is the
confederation of the worlds major PR and
communication management associations
and institutions and enjoys status
recognition by key organisations such as
the United Nations, World Economic Forum
and Organisation for Economic Cooperation
and Development. The cooperation with
PRSK goes back many years since the GA
formation in 2000.
Presenting the hosting rights certicate

CS Ministry of Information and Communication Dr. Fred Matiangi and PS Joseph

Tiampati together with PRSK Chair Jane Gitau and stakeholders from Kenyas PR
fraternity receive the 2015 WCPREE Ocial Hosting Rights Certicate from Global
Alliance for PR and Communication and Management Chair Prof Anne Gregory.
to Kenya on December 1, Prof Anne
Gregory, chairperson of the GA, noted that
there is real need for an understanding that
the developed world has much to learn
from countries such as Kenya, Africa as a
continent and other emerging economies.
The management of communication
and Public Relations is crucial in shaping
the discussions and the realities of the

future. The conference will focus on

some of the key issues aecting emerging
economies such as jobs and growth, health,
sustainability and climate change and will
bring some of the big names and thinkers to
position emerging economies as centres for
hard thinking, innovation and action.
As a pivotal business and tourism
destination in Africa as well as her

capability for economic growth, Kenya

emerged as our chosen WCPREE partner,
said Prof Gregory.
Accepting the hosting rights, Dr Fred
Matiangi, Cabinet secretary Ministry
of Information, Communications and
Technology who is also the PRSK patron
thanked the GA, PRSK and all organisations
that supported the conference bid for their
eorts and the honour they have brought to
Africa, Kenya and the PR profession.
Emphasising the crucial role played
by professional bodies as protectors of
public interest through ethical practice, Dr
Matiangi welcomed the joint cooperation
of the 2015 WCPREE and the opportunity
for Kenya to work together on this
engagement with the communication
community across Africa and indeed the
world to constructively reect on the
principles of the common good.
The bid received numerous endorsements
and support from public and private sector
organisations, among them the Kenya
Tourist Board, Kenyatta International
Convention Centre, Tourism Fund, Postal
Corporation, Kenya Civil Aviation Authority,
Communications Authority of Kenya,
Brand Kenya Board and the Ministry
of Information, Communications and
Technology.

Friday March 27, 2015 | BUSINESS DAILY

III

SPECIAL ADVERTISING SECTION

PUBLIC RELATIONS SOCIETY OF KENYA

PRSK awards a hallmark of excellence

s the saying goes, the

proof of the pudding is
in the tasting! The PRSK
Awards for Excellence remain
the platform to recognise and
celebrate excellent performance
of PR practitioners who have
delivered strategic, creative and
professional
communication
campaigns for their organisations
or clients.
They are open to members
and
non-members
drawn
from
business
enterprises,
associations,
private
and
government bodies as well
as students pursuing PR and
communication. The awards
reect the level of competitive
services oered in the Kenya
PR industry and are aligned with
the Global Alliance Comm Prix
Awards, International Public
Relations Association (IPRA)
Golden World Awards and Sabre
Awards.
The 2014 PRSK Awards for
Excellence themed celebrating
impactful
public
relations
had 12 competitive categories
that included the coveted Overall
PR Campaign of the Year, Media
Relations Campaign, Consumer
Relations Campaign, PR Event
of the Year, Social Responsibility
Campaign, and Public Sector
Campaign, among others. A
total of 59 direct entries were
received across the twelve
categories from organisations
and PR rms that include Athi
Water Services Board, Kenya
Forestry Services, Media Edge
Public Relations, Gina Din Group,
Apex Porter Novelli, Corporate
Talk PR, Ogilvy PR, Levanter
Africa, Impact Africa and IMG
Events, among others.
The Overall PR Campaign of
the year is the show stopper
and ultimate prize in excellence
measurement. It is weighted
and battled for by all the
winning entries. To clinch this
title, the entry must exhibit
outstanding creativity in public
relations as well as campaign
outcomes and/or impact. Apex
Porter Novelli and the European
Union Delegation to Kenya took
home this coveted award with
their campaign European Union
- Kenya Partnership Visibility
Campaign.
The
Media
Relations
Campaign of the Year category
won by Levanter Africa for
the M-Kopa Solar - Building
Category leadership initiative
looked for the best use of
media relationships and how
this captured the imagination of
targeted media.
The
Consumer
Relations
Campaign of the Year category
interrogated the role that
PR played in the strategic
development and implementation
of campaigns, covering projects
undertaken in such areas as
ethical and consumer healthcare,
marketing
communications
(including areas such as personal
nance, fast moving consumer
goods and consumer durables,
and youth marketing).
With the judges looking for the

most eective communications

awareness campaign aimed at
the consumer, methodologies
employed to reach the audience
and impact of the campaign
against set objectives; the
category was won by Apex
Porter Novelli and Vivo Energy
for the Shell FuelSave Campaign.
Apex Porter Novelli also
took home the Public Aairs
Campaign of the Year for their
Agriculture Industry Network
entry. This category looked at
the most eective use of PR to
change or enlist political or public
opinion, utilising either lobbying
or broader grassroots public
aairs tactics including media.
The judges keenly looked for the
long term impact with the target
audience.
The House of Lux Launch by
Unilever East Africa clinched
the coveted PR Event of the Year
category which relates to the
development and communication
of a promotional event or one-o
project in hospitality activities,
publicity events, concentrated
openings,
commemorations,
created events and conferencing.
The judges looked at whether
the use of the activity was
orchestrated by the PR function,
a clear objective for the choice
of medium and its role within
the overall PR strategy and the
eectiveness of the activity.
The World Kidney Day
Awareness
Campaign
by
KCB Foundation, Kenya Renal
Association and Apex Porter
Novelli scooped the Social
Responsibility
Campaign
of the Year. This category
entry portrayed a project
designed around a corporate
social responsibility policy on
community involvement, social,
ethical and reputation issues.
The most creative internal
communication
campaign
was awarded to Unilever East
Africa for the Bright Future
Campaign.
This
campaign
engaged and informed the
organisations human resource;
helping employees understand
the organisations sustainability
priorities and encouraging them
to take action.
The awards are judged by
a panel of industry experts
drawn from PR, education,
media and marketing who
question thoroughly the results
against set objectives. The panel
also evaluates whether the
campaign had a positive impact
on the triple bottom-line of the
organisation based on a fourtier parameter that touches on
research, planning, execution and
evaluation.
The Barclays Kenya Open
campaign by Media Edge Public
Relations won the Sponsorship
Campaign of the Year while
the Digital Media Boot Camp
by Globetrack International
took home the New Media PR
Campaign of the Year.
The Public Sector Campaign
of the Year Award was claimed
by Apex Porter Novelli &
European Union Delegation to

Kenya for the European Union

- Kenya Partnership Visibility
Campaign. This category was
open to government ministries,
departments,
parastatals,
local authorities and other
public sector agencies for the

most eective campaign or

communications programme on
a single topic such as health,
road safety and crime among
others.
Championed by the First Lady
of Kenya Margaret Kenyatta,

The Beyond Zero Campaign by

Impact Africa took home the
Not for Prot category that
recognises the most eective
communication programme or
campaign for or by a charity,
voluntary or not for prot organ
isation. Particular attention was
paid to the cost eectiveness of
the campaign, and in the case
of fundraising activities to the

monies received against set

targets.
Other winners for the evening
included Kenya Wildlife Service
for their annual report in the
Best Corporate Publication and
Samuel Waitathu Kariuki from
United States International
University (USIU) who emerged
as the Young Communicator of
the year.

IV

BUSINESS DAILY | Friday March 27, 2015

SPECIAL ADVERTISING SECTION

Best Practice

in Board Diversity Awards

Board diversity enhances good corporate governance

By MILLICENT MWOLOLO >>> mmwololo@ke.nationmedia.com

ompanies of all sizes and from all

economic sectors are beginning to look
at corporate governance on a broader
scale. There is renewed energy to alter the
composition of their board of directors to
reect the gender and racial diversity of their
customers, employees, and other stakeholders.
This is because companies have realised that
there is increased shareholder value that
comes with not only excellent performance,
but the diversity in their boards composition.
In Kenya the role of all-inclusive boards
cannot be amplied further than the Capital
Markets Act (Cap. 485a), (2014), which
stipulates that: Every Board should consider
whether its size, diversity and demographics
make it eective. Diversity applies to academic
qualications, technical expertise, relevant
industry knowledge, experience, nationality,
age, race and gender. The appointment of
board members should be sensitive to gender
representation and should not be perceived
to represent a single or narrow community
interest
Even though diversifying company boards
comes at a cost, the value that it gives to
companies, customers and shareholders is
immeasurable. A more pronounced benet
is eective decision making. A diverse board
is able to make decisions more eectively by
reducing the risk of groupthink, paying more
attention to managing and controlling risks,
as well as, having a better understanding of
the companys consumers. This is because
that unique inclusiveness of dierent
demographics championing a shared vision
brings in diverse views and dierent angles of
looking at their organisations core business.
This erodes the boardroom groupthink and
restores critical analysis and alternative
problem-solving strategies.
Additionally, the resultant synergy when
a group of people with dierent skills,

backgrounds and experiences approach

problems from a broader range of
perspectives; yields more gains for a
company when questions are raised
and debated more vigorously. Such a
multiple-perspective analysis of problems
can change the boardroom dynamics and
is more likely to be of higher quality than
decisions made under a groupthink
environment.
Diverse boards are also key in
enhancing the nancial performance
of their companies. Past studies have
showed that ethnic and gender diversity
in corporate boards that include women
and minorities is associated with superior
stock performance. This shows that board
diversity is a cause, rather than an eect
of improved nancial performance. This is
because the majority of the shareholding
and customer-base feel represented and
reected when a companys board of
directors is diverse.
Diversied board members are more
likely to possess dierent personal
characteristics, which lead to dissimilar
leadership, thinking, emotional styles and
even risk preferences and behaviours.
Not only may this foster creativity in
delivering solutions to problems, but also
provide a more comprehensive oversight
to the operations of the organisation
through a further enhancement of the
companys sensitivity to a wider range
of possible risks such as reputation and
compliance risks.
Board diversity is reective of a
companys customer base. As a result,
companies seeking to expand or take
a broader perspective of the changing
customer base are nding it vital to
have a very diverse board at the top.
This is because board diversity enhances
the competitiveness of companies as
it reects the diverse experiences and
perspectives of a changing customer
base. Since board of directors provide
strategic direction and long-term vision,
it is crucial they reect this diversity.

In addition to this, a diverse board

will have more representatives of users
and customers of its products in the
boardroom to make informed judgment.
This may be especially important for
consumer-facing industries to have
female directors and for multinational
companies to include foreign nationals
on the board. Dissimilar backgrounds,
experience and social networks in the
boardroom may therefore improve their
understanding of the stakeholders,
provide diverse connections with the
external environment and help address
stakeholders claims in a more responsive
manner.
Diverse board membership also helps
in enhancing employee morale as it
sends out a clear signal that the board
is committed to advancing the rights and
welfare of women and minorities at all
levels. Such demonstrated commitment
to diversity is likely to improve the
attraction and retention of female
and minority workers, boost employee
productivity and morale.
With a diverse board composition a
company is also in a good place to attract
investors. Investors are increasingly using
a variety of nonnancial measurements,
including board diversity, as criteria
in making investment decisions. For
instance, socially responsible investors
routinely use the representation of
women and minorities on a companys
board of directors as a screen for
potential investments.
Board diversity too helps a company
to strengthen its relationship with
stakeholders and to enhance corporate
reputation. In addition to this, growing
media and stakeholder attention on
the issue of board diversity has made it
increasingly important and cost eective
for companies to proactively address the
composition of their boards with regards
to racial and gender diversity. This
has seen such companies benet from
enhanced corporate reputation among

shareholders, customers, employees,

communities and others. It has also led
to reduced exposure to adverse publicity
stemming from high-prole public
campaigns, and reduced costs associated
with the inclusion of shareholder
resolutions related to board diversity in
annual proxy statements.

Board Member Recruitment

Checklist
Technical
expertise
and
experience.
Ability to bring a dierent
leadership perspective, based on
eld of expertise.
Ability to critique issues from
a
high-level
strategic
and
management perspective.

Benets of Diversity
Ability to interrogate issues
eectively.
Avoiding/overcoming GroupThink.
Diversity
brings
dierent
perspectives to the Board.
Brings breadth of technical and
other expertise to a Board.
Ability to share expertise across
dierent countries and industries.
Right skills base for various Board
committees.
Access to Board members
networks.
Ability
to
harness
diverse
experience
when
evaluating
complex capital projects.
Ability to understand dierent
market segments.
Diversity adds to the quality of
decision making.
By virtue of their role as nurturers,
women introduce a human element
into decision making.
Networking and communication
skills, including but not limited
to diplomacy and stakeholder
engagement

Celebrating NSEs most inclusive company boards

By MILLICENT MWOLOLO >>> mmwololo@ke.nationmedia.com

Developed by New Faces New Voices

a pan-African network with scope
in 16 countries, the Best Practice in
Board Diversity Awards recognise those
companies that have demonstrated the
Nairobi Securities Exchange (NSE) priority
diversity attributes. These are namely:
professional mix (Profession, technical
skills, related experience), age diversity
and gender balance. Other attributes that
are considered include: tribe, disability,
culture, backgrounds, religion and race.
Several companies were awarded
in three categories during this years
inaugural Best Practice in Board

Diversity Awards. The categories include:

The Best Overall NSE Listed Companies,
Most Improved for the Year 2014, and Best
Growth Enterprise Market Segment (GEMS).
Amongst the winners in the three categories
was the Best Overall Top 5 Award that saw 10
companies shortlisted. Several of them tied
for the Top 5 position, with two companies
emerging as the best overall.
In partnership with Think Business, various
companies were analysed based on their
disclosed board composition, and ranked
through a decision-making software that
utilises a multi-criteria based algorithm that
captured various diversity attributes and
weighed the top three based on their priority,
followed by age and then gender.

However, several companies did not disclose

their board composition based on the priority
attributes and these were disqualied. It is
hoped that through continuous engagement
of the NSE-listed companies more rms will
enhance their board composition disclosure
so as to further develop the assessment
The Best Practice in Board Diversity
Awards at a glance

3. TPS Serena Ltd

4. Liberty Kenya Holdings Ltd
5. Home Afrika Ltd
6. Kenged Ltd
7. Kenya Power & Lighting Company Ltd
8. Kenya Re-Insurance Corporation Ltd
9. Eveready East Africa
10. Standard Chartered Bank

Best Overall

Most Improved for the Year 2014

Award

Transcentury Ltd, and, British American

Tobacco Kenya Ltd

Top 10 of all NSE-listed companies

1. Transcentury Ltd
2. British American Tobacco Kenya Ltd

Barclays bank of Kenya Ltd

Best Growth Oriented

Segment (GEMS) Award
Home Afrika Ltd

Market

Friday March 27, 2015 | BUSINESS DAILY

SPECIAL ADVERTISING SECTION

Best Practice

in Board Diversity Awards

Barclays recognized for its commitment to diversity and inclusivity
By MILLICENT MWOLOLO >>> mmwololo@ke.nationmedia.com

arclays Bank of Kenya Ltd has given

diversity and inclusivity a whole
new meaning. A deliberate move to
mainstream diversity and inclusivity has seen
the mainstreaming of minority groups across
the ranks from the senior management of to
the sta at the bank.
We have very deliberate programmes
for women, the disabled and various
age-groups in order to provide an
avenue for them to not only climb up
the leadership, but to launch their career
with us, says Hannah Gitau, Chair to the
Diversity & Inclusion Council at Barclay.
The recruitment process at the bank is
multicultural, intergenerational, and age,
colour, religion is not a limiting factor.
Barclays has recruitment programmes
targeting everyone right from graduation.
We want to give young graduates an
avenue to launch their career with us.
Our employees in their early 20s work
comfortably with employees who are in
their 50s, explains Ms. Gitau. In addition
to this, the sta at Barclays are taken
through unconscious bias training so that
as they engage with one another, they are

not limited by personal biases, and this

promotes inclusivity.
Such initiatives have taken a lot of
hard work and investments to implement.
However, all this has not been in vain as
Barclays Bank of Kenya Ltd was recently
recognised with the Most Improved for
the Year 2014 Award at the inaugural Best
Practice in Board Diversity Awards.
This recognition of excellence did not
come by surprise as the journey to the
award shows that Barclays is committed
to the promotion of diversity and inclusivity
in its board, and all the other levels of its
organizational structure. The bank had in
July last year announced the appointment
of three women to their Board of
Directors. The board appointments were
a culmination of a lot of behind the scenes
work which began with the launch of the
Barclays Women Networking Forum (WNF)
in 2010. As a business, we felt that we
needed to increase the number of women
in leadership positions by instituting a
deliberate mentorship programme, Mr.
Francis Okomo-Okello Board Chairman,
Barclays Bank of Kenya said in a
statement.
The appointment brought to ve, the
total number of women in the ten-member
board. Again, the 50 per cent gender
representation makes Barclays board the
most gender diverse of any listed rm

in Kenya. A board audit of listed rms,

conducted last year revealed that of a
total of 467 directors, only 43 are women
out of which only 4 occupy the position of
chairperson. It further emerged that 23
of the 57 listed rms do not have a single
women sitting in their boards.
The WNF programme has seen over
300 women employees at the bank get to
balance their work and handle their duties
as mothers comfortably. For instance the
programme has created lactation rooms for
women in hygienic location where they can
express breast-milk for their babies. This
has been similar to remote breastfeeding.
With such support, they are glad that the
bank is working for them.
Barclays Bank of Kenya Ltd has further
gone ahead to mainstream inclusivity and
diversity at all levels of their business
from their governance structures, human
resources and business practices, as well
as their commercial strategy both at
the local and global levels. This has seen
the bank maintain its relevance with the
demographics that it serves.
To promote diversity in customer
support, the bank has introduced a
queue management system through
which priority services are oered to the
elderly, expectant mothers and people
with disabilities in their banking halls. This
has given a pleasant experience to their

customers with special needs. In addition

to this, all our branches have seen building
infrastructure that is disability-friendly
with wide racks, compatible sanitation
facilities and reserved parking spaces for
people with disabilities, expectant mothers
and the elderly, explains Ms. Gitau.
Ms. Gitau notes that the award sends a
strong message across the banking industry
that companies can be diverse and inclusive
if only they deliberately commit themselves
to it. It is not hard. We are not in those
days when gender was a limiting factor,
she says. She adds that when women, and
people with disabilities are in boardrooms
they bring in unique ways of engaging
in purposeful analytical problem-solving
debates. Likewise, Mr. Francis Okomo-Okello
notes that diversity creates a melting pot of
ideas, which if properly harnessed, is very
important to any business.
When Barclays Bank of Kenya Ltd
started the diversity in inclusivity
programme, only 4 of their employees
were persons with disabilities. Today, that
number has increased signicantly. In
November last year, the bank launched the
inaugural Career Fair where it connected
with 200 people living with disabilities.
We have been able to engage with quite a
number and this has increased our employee
population signicantly, she shares.

VI

BUSINESS DAILY | Friday March 27, 2015

SPECIAL ADVERTISING SECTION

Best Practice

in Board Diversity Awards

Home Afrika scoops Best Practice Board Diversity Award

By MILLICENT MWOLOLO >>> mmwololo@ke.nationmedia.com

enyas leading property developer, Home

Afrika, is well known for mega projects
such as the multi-billion shilling Migaa
satellite city. Migaa and other similar projects
would not be in existence were it not for the
vision, determination and resilience of the
board of Home Afrika.
Its unwavering commitment to innovation
has seen Home Afrika clinch the Best
Practice Board Diversity Award. This
has seen the developer emerge the Best
5th Overall in the 105 Nairobi Securities
Exchange (NSE) listed companies.
Mr Njoroge Nganga, the chief executive,
states that the award is not a surprise to
Home Afrika. The board ensures a diversity
of professionals in dierent elds, age,
gender, and ideas to bring forth an ambitious
resource team, says Mr Nganga.
Being pioneers in the Growth Enterprise
Market Segment (GEMS), the award
recognises Home Afrikas contribution as
an indigenous homegrown company which
in six years managed to convert itself into a
corporate by listing at the NSE in 2013. This
is one of Home Afrikas greatest successes.
Established in 2008, Home Afrika has
been a force to reckon with in the real estate
sector in Kenya and the entire East African
region. The rm started o as an investment
group with 128 shareholders who
contributed equity towards the development
of projects. It took a lot of hard work, many
meetings and consultations as we got down
to implementing our strategy, recalls the
CEO.
The board has helped the rm to
incorporate dierent ideas and embark on
a long term market strategy, he says. That
is why the two awards mean a lot to Home
Afrika. The awards reect all the hard
work, planning, and the strategic thinking
that has gone into the implementation of our
development projects, says Mr Nganga.

Its unwavering
commitment to innovation has
seen Home Afrika clinch the
Best Practice Board Diversity
Award. This has seen the
developer emerge the Best
5th Overall in the 105 Nairobi
Securities Exchange (NSE)
listed companies.

Njoroge Nganga, CEO Home Afrika (left) receives a trophy and a certicate of
Best practice in board diversity award on 17th march 2015. PHOTO CHARLES KAMAU
Home Afrika also developed the
Morningside
Oce
Park
along
Ngong Road, Nairobi. It is a high-end
commercial development that features
serene and secure executive oce
suites and other amenities in a modern
commercial complex. The development
has been very successful in yielding high
returns, notes Mr Nganga.

Migaa, Lakeview and Llango

Home Afrika is home to exceptional
brands such as Migaa, Lakeview and
Llango. Home Afrika acquired Migaa
in Kiambu County in 2011. Migaa, an
integrated golf estate, sits on 774 acres
and is Home Afrikas agship project.
It characterises our ambition, drive
and entrepreneurial spirit, says the
CEO.
Mitini Scapes, Migaas rst real estate
project, is complete and being handed
over to buyers. We want to make
this satellite city a living community
where there is real social and economic
activity, says the CEO. Migaa will
feature retail facilities, hospitals,
schools, sports and hospitality facilities.
The developer has just signed an MoU
with Wadi Degla, an Egyptian company
that specialises in entertainment
infrastructure. Degla will help develop
clubs, sports facilities including and
academies. Degla is expected to break
the ground in the rst half of 2015.
Mr Nganga is optimistic the Migaa
project will be completed in three years.
We have met the challenge and we are
growing from strength to strength, he
says.
Home Afrika is already implementing
its go county strategy. We are

leveraging on the county structure

by working closely with county
governments to put up homes, Mr
Nganga explains.
The Lakeview project in Riat Hills,
Kisumu, is very scenic. It sits on 92
acres of land. The development has
been fully acquired and infrastructure
work is on-going. The developer is
planning for the residential which will
include conferencing and hospitality
facilities.
Llango, in Kwale County, provides a
variety of homes with a spectacular
view of the Indian Ocean.
Unlike other property developers in
the market, Home Afrika has not just
made a name for itself, it has made a
series of rsts in the last eight years.
Home Afrika was the rst company
to be listed on the GEMS market of
NSE. It has been quite an experience.
GEMS has given us a large platform to
showcase ourselves and various options
to raise nances, says the CEO.

Life-long products, higher

rewards
In Kenyas property market Home
Afrika is not your everyday developer.
The rm does not just provide houses,
it provides homes. In addition, Home
Afrika analyses property needs of
various sectors of the economy,
anticipates future needs and strategises
on long-term solutions. The rm is also
very keen on decongestion.
For instance, Migaa has huge
potential for decongesting Nairobi once
completed. So is Lakeview in Kisumu
County.
Home Afrika stands out as a strong

brand at the NSE since it develops and

market a lifelong product which is very
capital intensive. This is very dierent
from fast moving consumer goods. Ours
is very solid and promises high rewards
in the long term. That is why I urge our
shareholders to remain patient and
very expectant, Mr Nganga assures
shareholders. The expected returns
are huge since the value of real estate
investment grows with time.
Listing at NSE saw Home Afrika
become a public company. This has
been very positive as we have derived
a lot of support from capital market
regulators. Most importantly, it has
given us important knowledge on the
equity market and the opportunities
that exist, Mr Nganga says.
Migaa was in 2014 recognised as a
Super Brand in East Africa. We are
very excited to feature among East
Africas strongest brands, he adds.
The recognition speaks well of Migaas
competitiveness in the East Africa
region.

Aordable housing
The Best Practice Board Diversity
Award comes at a time when Home
Afrika is burning the midnight oil to
implement mega development projects,
after which it will embark on building
more aordable homes. This is in
response to the ever increasing housing
demand among the middle income
segment.
We want to maintain our theme
as Home Afrika in delivering dignied
mixed development homes in secure
environments, he explains. We want
to give Kenyans dignied homes and
lifestyles.
This is not the rst time the developer
has clinched an award. The Kenya
Profession of Realtors Association
awarded Home Afrika an award for its
contribution to the real estate sector.
The developer is keen on introducing
new and innovative ways of building
homes and land acquisition.
We will be partnering with
construction technology rms to bring
in market innovation and enhance our
competitiveness, Mr Nganga says.
Pricing is competitive across Home
Afrikas various developments given
the nature of homes that they provide.
Apartments, one to three bedrooms,
cost between Sh5 million and Sh13
million, cottages go for Sh18 million,
bungalows Sh20 million and villas Sh22
million.

Friday March 27, 2015 | BUSINESS DAILY

The Migaa gatehouse and landscaping are part of the first phase of
infrastructure, prioritized to provide a green, safe and secure environment.

Migaa golf course irrigation for the back nine holes ready for the launch in
April 2015.

Ready cottages at Mitini Scapes, Migaa with spacious

verandas, lounge, and en suite bedrooms designed to enjoy
breathtaking views of the landscape and golf course.

VII

Apartments at Mitini Scapes, Migaa offering the very best

in style, elegance and serenity to the first time home buyer,
family or the discerning investor.

Migaa golf course fairways completely grown in and ready for the
launch in April 2015.

Migaa Boundary Wall and electric fence around

the perimeter of the entire development.

For more information contact: 020 2772000 +254 721717153.

www.homeafrika.com www.migaa.com

VIII

BUSINESS DAILY | Friday March 27, 2015

SPECIAL ADVERTISING SECTION

Best Practice

in Board Diversity Awards

BAT Kenya Ltd feted as the most diverse and inclusive company
By MILLICENT MWOLOLO >>> mmwololo@ke.nationmedia.com

t was song and dance when British

American Tobacco Kenya (BAT Kenya)
took pride of place as the overall winner
in the recently concluded Best Practice in
Board Diversity Awards.
BAT Kenya stood out for its commitment
to fostering diversity and has developed
specic diversity plans, aligned to their
business priorities and talent succession
plans. At BAT, progress on diversity
starts from the top and is driven by their
leadership team, says Ms Razeeah Belath,
head of Human Resource at the company.
Ms Belath explains that the diversity
policies and approaches at BAT are built
around the following key principles:
1. Merit-based decisions that narrow
the gap between the current situation
and their diversity aspirations, without
compromising on talent and capabilities.
2. Building a diverse workforce that is
not limited to gender and nationality
diversity.
3. An inclusive culture that tackles
prejudice and promotes understanding.
4. Ensuring a level playing eld where
employees have equal opportunities to
succeed and to advance their careers.

Thus it was not by surprise that BAT

emerged the overall winner in the Best
Practice in Board Diversity Awards. The
company, Ms Belath says is humbled by the
recognition.
This
validates
our
persistent
commitment to developing an inclusive
environment, which values and harnesses
the contributions of people with
dierent backgrounds, experiences and
perspectives, Ms Belath says.
BAT strongly believes that their business
growth and continued success is fueled
by their people. A winning organisation
delivers winning results and as such,
we are committed to creating the right
environment that can nurture a winning
organisation, she asserts.
BAT Kenya is part of the British American
Tobacco Group, the worlds second
largest tobacco company. The cigarette
manufacturer enjoys solid roots in Kenya
having set up operations in the country as
early as 1907. Its core operations include
cigarette manufacturing for the domestic
market and export within the EAC and
Comesa markets of both nished product
(cigarettes) and cut-rag (semi-processed
leaf). We have a signicant interest in
tobacco growing and we have expert
technicians out in the eld who support
over 5,200 directly contracted farmers in

Kenya, explains Ms Belath.

In 2014, BATs contribution to
government revenues in the form of
excise duty, VAT, PAYE and Corporation
tax increased by six per cent to a record
Sh15.4 billion.
There are few companies founded in
1907 that are still going from strength to
strength. We have a rich heritage and, just
as importantly, a bright future, she shares.
BAT Kenya has continued to be one of
the best performing stocks on the Nairobi
Securities Exchange since 1969.
Our successful, well understood
and established strategy has delivered
consistently good returns to shareholders
over the years, Ms Belath says.
BAT Kenya has been continuously
committed to creating value, whilst
operating responsibly. This has made us
receive recognition as the Best Quoted
Company at the NSE, she adds.
BAT Kenya resonates well with tobacco
consumers by bringing to the table
qualities that no other tobacco company
can match in terms of expertise, innovation
and sustainability. The multinational has
continuously leveraged on expertise that
has been developed through decades
of sharing skills and knowledge across
multiple cultures and borders. This has won
the manufacturer an edge in the market

with their understanding of changing

consumer preferences, and the ability to
deliver high-quality tobacco products that
meet their evolving needs.
BATs staying power in the market has
been their excellence at bringing best in
class, dierentiated oers to the market.
This has strengthened their brands in the
market with a balanced portfolio that
is designed to suit dierent tastes and
budgets.
Everything we do is underpinned by
responsibility, productivity and great
people, Ms Belath emphasises.
At their core business strategy is
sustainable people development. BAT Kenya
champions the enthusiasm of their talent
and passionately encourages individuals to
stretch themselves, challenging the status
quo and nding their own limits if they
dare.
Even more, BAT Kenya has a broader
vision to achieve leadership of the global
tobacco industry in the quality that they
oer.
We understand that to be industry
champions we must continue to
demonstrate that we are a responsible
tobacco company with outstanding people,
and exceptional brands that satisfy the
needs of our consumers, Ms Belath
concludes.