Blog

Hon. Bishop Margaret Asks Embakasi West and Embakasi South Residents For Support In The Senatorial Seat

0

During her meeting she promised the residents full protection against illegal demolitions of homes and business premises. Wanjiru condemned the water cartels causing water shortage in the city, claims people should not be queuing for water,” we must get rid of water cartels so that people get water supply consistently”.

Bishop Wanjiru highlighted her vision to empower the youths with hands on courses so that they can become important people in the society instead of relying on handouts from politicians.

She was addressing a section of Nairobi residents drawn from Embakasi West and Embakasi South at sweet gardens.

Wanjiru called upon voters to support Kenya Kwanza Presidential Candidate Dr. William Samoei Ruto’ candidature come August 9th.

She asked the people to support her as Nairobi senator come August .

IBL Group acquires Amethis stake in Naivas International

0

IBL Group, the largest conglomerate in Mauritius, is the lead investor of a consortium that
has signed an agreement to acquire a significant minority stake in Naivas International
(Mauritius), with private equity firm Amethis exiting its investment. Naivas International
owns 100% of the shares of Naivas Limited, a leading supermarket chain in Kenya. IBL’s
partners in the consortium are Proparco, a subsidiary of Agence Française de
Développement (AFD) and DEG, a subsidiary of German KfW Group. This agreement is
subject to regulatory approvals.

The investment in Naivas International is the biggest investment in IBL’s history. IBL also
has significant expertise in the retail sector, operating the leading supermarket chain in
Mauritius, Winners.

“This is an exciting partnership by our shareholders that will drive us to the next phase
of growth. We appreciate the immense knowledge and capacity in the retail industry that
IBL brings to the table”, said David Kimani, Managing Director of Naivas. He further
added, “This transaction is testament to the hard work by Naivas’ management and
shareholders of having put in place strong governance and controls, enabling the
business to grow sustainably to become one of the leading retailers in the region.”

“I am proud that our partnership with the shareholders of Naivas International marks IBL
Group’s first investment as part of our expansion in East Africa. This is a symbolic move
for us. This family business created in 1990 is an example of success story that has
continued to grow despite the pandemic thanks to its strong business model. With 84
outlets in 20 cities and towns across Kenya, it has put modern grocery retail within
everyone’s reach. Naivas also contributes to the Kenyan economy, notably by employing
over 8,000 people. IBL Group has expertise in the retail sector with our chain supermarket
Winners – a flagship of the Mauritian economy.” said Arnaud Lagesse, IBL Group CEO.

Andreas von Paleske, Head of Strategy at Naivas commented, “Amethis invested in Naivas
International in 2020, and their strength in partnering with family-owned businesses has led
to a demonstrable step-up in governance and growth. Amethis sale of its stake in Naivas
International represents the successful culmination of their partnership with the business.
We are now thrilled to embark on the next phase this journey and welcome an exciting
partnership with IBL.”

Frank-Astère Ndiyo Butoyi, Investment Director at Amethis, added “We are proud to have
been in the Kenyan retail landscape and supported a very successful Kenyan business who
understands best the Kenyan consumer. As we exit our investment, we wish IBL and the
Naivas International team the best for the future”.

Naivas International and Amethis were advised by Bowmans, Ernst and Young, and
Rothschild & Co. The IBL consortium was advised by Benoit Chambers, Kaplan & Stratton,
and PwC. Terms of the transaction were not disclosed.

FIA Rally Stars Set to shine at the WRC Safari Rally

0

The Four Kenyan FIA Rally Stars, McRae Kimathi, Hamza Anwar, Jeremiah Wahome and Maxine Wahome, have expressed confidence ahead of this year’s WRC Safari Rally that flags off tomorrow at KICC.

The Quartet, sponsored by Safaricom and Kenya Airways, will feature in their new Ford Fiesta Rally 3 cars. This is the second year in a row that the FIA youngsters will be participating in the championship after successfully taking part in last year’s event, which saw Jeremiah Wahome and Hamza Anwar finish in 16th and 25th overall respectively, with McRae retiring at the final stage due to mechanical problems.

JEREMIAH WAHOME,FIA DRIVER

“The shakedown today was very important in terms of preparation for the main event, as we took this opportunity to get a feel of the car and ensure that it is in good condition. The car behaved as I expected as it had no issues. I felt quite excited and confident as I was driving. Hopefully, we can carry that to Kasarani and other stages.  My expectation for this Rally is to improve on performance from last year’s event and, most importantly, to finish the Rally,” said Jeremiah Wahome.

The four drivers are part of the FIA Rally Star programme, a global initiative that seeks to identify, train, and develop talented young drivers between 17-27 years. All the four young drivers sponsored by Safaricom and Kenya Airways will feature in M-Sport Fiesta machines during the Rally.

 This year’s event has drawn 33 entries globally, with the defending champion, Sebastian Ogier, coming to defend his title.

Among other key drivers in this year’s Rally at Naivasha are Katsutsa Takamoto of Japan, Neuville Thiery of Belgium, Tanak Ott of Estonia, and youngster Solberg Olver of Sweden, among other renowned sportsmen.

Kenya inks Pact with the British Chamber of Commerce (BCCK) to enhance business climate

0

Government of Kenya has signed a Memorandum of Understanding (MoU) with the British Chamber of Commerce Kenya to promote Kenya’s business climate reforms agenda
 
BCCK’s Business Integrity Initiative and the Department of Business Reforms and Transformation (DBRT), under the Ministry of East African Community and Regional Development, will establish a joint programme to identify and recommend areas for reform, host public private workshops, and build private sector capacity.

Speaking during the signing of the MoU, Principal Secretary, State Department for East African Community in the Ministry of East African Community and Regional Development Dr Kevit Desai, said that business integrity is the foundation of international trade.

“While corruption is a global issue, it is a concern that has been raised in our discussions with businesses and international investors. This MoU will create a platform to reaffirm Kenya’s commitment to strengthening the business climate. It will also build private sector participation in the digitisation and automation of government services in procurement, revenue collection and cross-border trade,” he said.

The MoU will address some of the findings from the recent BCCK Business Integrity Market Survey, which measures the impact of corruption in the private sector and recommends areas for reform.

The survey found that 66% of the respondent companies in Kenya experience negative impacts on their business from corruption. Of these, 37% of respondent companies report financial impacts through loss of annual earnings or future investment. Annual losses of earnings relating to integrity lapses are valued at 23%, while losses of future investment are valued at 20%.

Recommendations from the private sector include accelerating the digitisation of government service delivery, as well as including more integrity content and programming in industry standards and professional development. Survey respondents also called for extensions on debarment of companies and directors found culpable for integrity lapses 

The UK’s High Commissioner to Kenya, Jane Marriott, said that improving business integrity underpins both the UK-Kenya Strategic Partnership and the building of a prosperous, safer, and healthier Kenya

“The lessons from anti-corruption efforts in the UK, and globally, show the importance of building coalitions across government and civil society, as well as working with reformers to make incremental gains,” she said.

BCCK chairperson, Sonal Sejpal, said the work done by the Chamber to generate evidence-based recommendations for changes to integrity policies and practices, has shown that Kenya has a strong legal framework to combat corruption.
 
“The focus of this MoU is to support the private sector, the Government, and its development partners on enhancing enforcement and implementation,” she said.

The MoU follows a Public Private Dialogue on Integrity hosted by BCCK in Nairobi this month which was funded by the UK – Kenya Anticorruption Programme. It also follows a successful roadshow to the UK, organised by DBRT and the Department for International Trade, where investors were able to see the progress being made in Kenya on business reforms to improve integrity and trade.

KBL Opens new Tembo Outlet at Jomo Kenyatta International Airport

0

 Kenya Breweries Limited through its flagship brand Tusker has today launched the Tembo Bar and Bistro at Jomo Kenyatta International Airport’s (JKIA) that is aimed at refining and elevating hospitality and customer experience within the airport. 

The establishment, a state-of-the-art restaurant and bar, will offer an international fine-dining experience and deliver first class and modern concessions and amenities that will give travelers a unique and memorable experience.

The announcement is part of an ongoing partnership with the Kenya Airports Authority that has seen the parastatal implement an expansion strategy throughout the international aviation hub in the recent past. This launch also comes on the backdrop of an ongoing renovation project at JKIA’s Terminal 1B and 1C that will make operations at the region’s busiest airport more efficient. 

Speaking at the unveiling, Kenya Breweries Managing Director, John Musunga, mentioned: “Kenya Breweries is delighted to announce the launch of the Tembo Bistro and Bar, the first international standard outlet at the airport. This unique outlet will provide travelers with a distinctive fine-dining experience not seen in the region before. 

He added: The outlet opening also supports our ongoing partnership with Kenya Airports Authority. This association is in line with our objective to continuously expand our engagement touchpoints and further our commitment towards nurturing mutually beneficial relationships that deliver joint value and benefit for our customers.”

Tembo Bistro and Bar pays homage to the Elephant and affords appreciation to KBL’s flagship brand Tusker that marked 100 years of existence this year. The connection with the name also lends to the brand’s continued support for wildlife conservation in the country, a big part of the company’s overall sustainability agenda. 

Commenting at the occasion, KAA Managing Director, Alex Gitari, said: “JKIA is a globally respected airport and a pivotal hub for the aviation industry in the region and continent that offers continuous improvement of service standards. The new outlet will aid our endeavor to maintain our position as the premier tourist destination player on the continent. This partnership therefore is part of our strategic expansion agenda as we seek to improve the quality of service, customer experience and enhance JKIA’s standards as the preferred regional aviation centre”

KBL and its flagship brand Tusker have been commemorating the 100-year milestone throughout the year through targeted activities focused are their consumer touchpoints. As part of their centenary celebration the company also committed Kes 100 million to bolster the government’s efforts in addressing wildlife conservation across the country.

FIA WRC Sponsorship Announcement

0

Kenya’s national carrier Kenya Airways (KQ) and Safaricom (NSE: SCOM) have announced an extension of the FIA Rally Stars partnership to support four Kenyan drivers who have been selected for the FIA Rally Star Programme. The four will participate in this year’s Safari Rally that will take place from 23rd to 26th June and is part of the World Rally Championship (WRC).

The four drivers who have been selected for the programme are Jeremy Wahome (23), Hamza Anwar (23), McRae Kimathi (27) and Maxine Wahome (25).

“We are excited to be part of this historic event that is an important part of our country’s sporting calendar. Last year’s event was a huge success and helped advance the talent of three youngsters in motorsport under the FIA Rally Star Programme. This year, we are glad to add Maxine Wahome to the stable of drivers who will get an opportunity to showcase their talents on a global stage. We are also happy to increase our sponsorship amount to KES 25 million for this year’s FIA Rally Star Programme”, said Peter Ndegwa, CEO, Safaricom.

“As Kenya’s national carrier and the Pride of Africa, we take pride in being the official airline partner and more importantly being part of the journey to develop the next generation of competitive rally drivers from Kenya through the “FIA Rally Star” initiative. This year, we have increased our in-kind partnership portfolio to Ksh. 20million a year for the next 3 years. This is not a cash sponsorship. Our support will facilitate the young rally drivers, their support teams and officials to travel to competitions in Africa and Europe over the next 3 years.” said Allan Kilavuka, Group MD and CEO, Kenya Airways.

The FIA Rally Star Programme is a global initiative that aims to identify, train and develop talented young drivers of between 17-27 years. All the four young drivers sponsored by Safaricom, and Kenya Airways will feature in M-Sport Ford Fiesta machines during next week’s Safari Rally event.

Last year, Safaricom and Kenya Airways sponsored Jeremy, McRae and Anwar as they took part FIA-funded programme which organises competitions to identify the most promising rallying talent.

During last year’s Safari Rally, Jeremy and Anwar finished in 16th and 25th positions respectively, with McRae retiring at the final stage due to a mechanical problem. 

A total of 34 drivers led by the current WRC points leader Kalle Rovanpera have been confirmed for the 2022 Safari Rally according to the list released to by the event’s secretariat. Other key drivers who will feature in this year’s rally at Naivasha are Katsutsa Takamoto of Japan, Neuville Thiery of Belgium, Tanak Ott of Estonia and youngster Solberg Olver of Sweden.

Bishop Margaret Wanjiru Promises Employment, Education and Water To Every Needy Family In Nairobi.

0

Speaking in Embakasi Central Constituency, Hon Margaret Wanjiru, faulted the trickle down model saying it has not delivered on the basic necessities of Kenyans.
Hosted by the Embakasi Central MP The Honorable Benjamin Gathiru Bishop Margaret Wanjiru, called upon the electorate to make the wise decision on August 9th and elect the leaders with a proven track record.

“I will improve on the bursary disbursement to make sure the kitty is expanded to ensure timely and equitable distribution of the Bursary. I will keep the Governor on his toes to make sure our children stay in school.”

Wanjiru also cited perennial water problems in Nairobi as one of the focal areas she will address as the incoming Nairobi Senator. “In this Kenya Kwanza Administration, we shall seek a lasting solution to the water problem. Nairobi must be quenched.”

Construction of Markets in order to decongest the existing ones “I hereby -pledge to construct new markets to uplift the residents of Nairobi and empower them economically. The markets will be ultra modern and complete with all the necessary amenities,”

She also reiterated that she is firm on her stance on zero tolerance to corruption and said grabbers of markets their days are numbered.
She called upon leaders to focus on service delivery to wananchi regardless of party affiliation, tribe or religious affiliation.
Wanjiru also cited her commitment to uplift the youths by creating meaningful gainful employment to them. “Most of these youths are highly qualified and we need to empower them based on their God given talents.”

Wanjiru also faulted the Jubilee Government for what she termed as major failures saying it’s time to usher in new leadership impetus.
“As the incoming senator, I will make sure no Nairobian will face demolition of stall, abode or any property whatsoever.”

She called for Unity and called for leaders to shun tribalism more so at a time we are nearing the General Elections.
“Nairobi is a Cosmopolitan County and we must live harmoniously. Let’s utilise tribal diversity for progress but not for retrogression.

FALLOUT IN KENYA KWANZA KAKAMEGA RALLY

0

By EUGINE ONYANGO on 15 June 2022 – 10:20 am

Former Senator, Boni Khalwale, was forced to leave a Kenya Kwanza rally in Kakamega after he clashed publicly with his successor, Cleophas Malala, on Tuesday, June 14.

Trouble emerged after Boni Khalwale requested Kakamega resident to vote whom ever they will prefer in governor seat. In his speech, stated that both candidates are sons of Kakamega and residents should vote for the person they deem fit.

“I want you to know this, I am the son of Luhya land from Kakamega, Malala is also a son of the Luhya community as well as Fernandes. All of us are looking for leadership and out of all these, I am the best, you can vote for me and for the rest you can decide who you want,” Khalwale stated.

however when Malala took the podium he rubbished Khalwale statement and assure him that kakamega is his bedroom and the residents will vote for 100%.

“What is this guy saying? This is my bedroom and if he is eating on both sides, he should tell us. Boni, I want to assure you that these people will vote for you as a Senator and when you come here stop talking about Barasa.

“Are you meeting him at night and that is why you are selling him? This is my bedroom and I intend to get 100 per cent of the votes, unless you want to get 2 per cent, stop speaking about others,” Malala stated.

An altercation ensured forcing Khalwale to leave the rally in a huff despite the two candidates supporting the Kenya Kwanza alliance under the leadership of Deputy President William Ruto.

this confrotation comes barely less than a week ago when ANC leader Musalia Mudavadi urged residents in the Western region to vote for candidates from his party overwhelmingly in the August polls. Khalwale’s utterances are seen as a counter to Mudavadi’s.

Mudavadi added that residents from Sugoi – deputy president Ruto’s backyard will not vote for candidates who are not from UDA party, therefore he pleaded with resident from western vote for canditates from his party ANC and not other parties.

African Countries Making Positive Progress On Tax Transparency

0

The report covers 38 African countries and is a co-production of the Global Forum on Transparency and Exchange of Information for Tax Purposes, the African Union Commission and the African Tax Administration Forum. It measures the impact of the Africa Initiative’s work and details capacity-building activities carried out by the Global Forum and its partners in 2021.

Major achievements in recent years include:

  • 22 African countries are now parties to the multilateral Convention on Mutual Administrative Assistance in Tax Matters, the most comprehensive instrument for all forms of  co-operation to tackle tax evasion, thus considerably expanding their EOI relationships networks (4 135 bilateral relationships in 2021, compared to 913 in 2014).
  • Effective infrastructures for information exchange are being set up, with the majority of countries establishing well-functioning competent authority units within their tax administrations. As a result, the number of countries sending requests for information is increasing (15 in 2021, from 6 in 2014), and the total number of requests sent is growing steadily (+26% in 2021, compared to 2020).
  • 10 African countries have committed to automatic exchange of financial account information (AEOI) by a specific date.
  • 9 African countries collectively reported collecting over EUR 233 million as a direct result of exchange of information on request (EOIR) since 2014. In all, at least EUR 1.2 billion additional revenue (tax, interest and penalties) have been identified in the region since 2009, through voluntary disclosure programmes launched prior to the first automatic exchanges, EOI and offshore investigations.
  • A record of 1 500 African tax officials have been trained to build capacity on the use of EOI instruments in 2021.

New political engagements further reinforced the multilateral efforts to advance tax transparency in 2021: Algeria joined the Global Forum – becoming the 33rd Africa Initiative member – and signed the Yaoundé Declaration. Rwanda also added its voice to this important initiative, which now counts 34 signatories.

“I wish to applaud the members of the Africa Initiative for their commitment and resilience in implementing tax transparency standards during the difficult times occasioned by the COVID-19 pandemic,” said Githii Mburu, Commissioner General of the Kenya Revenue Authority and Chair of the Africa Initiative. “The Tax Transparency in Africa 2022 report is an enlightening testament to the valuable gains made in the fight against tax evasion and illicit financial flows through consistent utilisation of EOI networks and tools.”

While showing swift and positive developments, the report points out uneven progress across the region. Four countries alone accounted for 92% of all requests sent by African countries in 2021; and four from the six countries assessed in the second round of EOIR peer reviews so far were rated partially compliant, showing common difficulties in the implementation of the EOIR standard, which includes advanced beneficial ownership requirements.

“The Global Forum will pursue and intensify its efforts to actively promote the transparency agenda in Africa,” said Zayda Manatta, Head of the Global Forum Secretariat. “We look forward to helping further develop local capacities, for example through our Train the Trainer programme, to achieve more transparent tax systems for the benefit of all African countries and their citizens.”

Launched in 2014, the Africa Initiative seeks to ensure that African countries are equipped to exploit the latest advances in global transparency, to better fight tax evasion and other IFFs and ultimately improve resource mobilisation to sustain their development.

The Kenya Revenue Authority is hosting the 11th meeting of the Africa Initiative from 14 to 16 June 2022 in Nairobi, Kenya. The event will gather high-level representatives and experts from African tax administrations, regional and international organisations, as well as academia and civil society organisations.

IS THIS THE END OF KEROCHE BREWERIES?

0
Keroche Breweries founder Tabitha Karanja

By EUGINE ONYANGO on June 14 2022

Keroche Breweries has been shut down once again after an agreement on how it would offset its tax arrear hit a hard rock.

Keroche Breweries founder, Tabitha Karanja, While addressing the press on Tuesday, June 14,noted that the move has the future of its 400 workers hanging in the balance.

She also noted that if the closure is not stopped, beer worth Ksh350 million could go to waste.”Thousands of innocent hard working Kenyans are undergoing the indignity and injustice of unemployment, poverty and hunger,” Karanja stated.

It is claimed that the company had defaulted on earlier agreement to gradually settle its outstanding tax arrears which it has denied.

“I specifically request once more to be given a moratorium on the enforcement action that shut down our operations, and on the unsustainable payment plan that we agreed to under unbearable pressure.

“I therefore also humbly request for further engagement to consider a way for the company to meet its due obligations without sacrificing it and the livelihoods of countless Kenyan households,” she added

Keroche Breweries has had long-running battles with the Kenya Revenue Authority on tax. In 2015, the company was shutdown for two weeks over a backdated duty of about Sh1 billion for the ready to drink Vienna Ice vodka.

Earlier on in march Keroche Breweries CEO stated they have agreed with the taxman to settle the tax issue immediately when they were given chance of resuming normal operation. Keroche agreed to pay Ksh957 million to the tax authority in a period of 24 months starting January 2022.

In her statement on June 14, Karanja asked for a chance to rebuild the business and save the jobs of her staff before settling the tax arrears.

“I specifically request once more to be given a moratorium on the enforcement action that shut down our operations, and on the unsustainable payment plan that we agreed to under unbearable pressure.

“I therefore also humbly request for further engagement to consider a way for the company to meet its due obligations without sacrificing it and the livelihoods of countless Kenyan households,” she added.

She accused the government of issuing an advisory to 36 banks not to lend Keroche, a move she noted had greatly contributed to her company’s financial woes.

this is another time the company is being shut down, will this be the end oF Keroche Breweries?

WP Twitter Auto Publish Powered By : XYZScripts.com