Firm is cranking up the TV industry with eye-searing new lines
Tullah Stephen
At 27, Jean-Jacques Maikere (JJ) is the managing director for Jumia-marketplace in Kenya formerly known as Kaymu. Popularly referred to as JJ by his peers, Maikere is a prototype for the modern entrepreneur. He earned his Bachelor’s Degree in Business Engineering from Solvay Brussels School. At 25, he founded Kaymu an online marketplace in Angola. Today he heads Jumia marketplace in Kenya. We sat down with him to share more about himself
WHAT WAS YOUR FIRST JOB?
JJ: My first job was a client executive at intern at Thomson Reuters in London. My role was to mainly advice clients from the Buyside, Sellside as well as the quoted companies. I would analyze the financial data and conduct perception studies on behalf of the quoted companies. It was perhaps one of my exciting but challenging times in my life.
HOW OLD WERE YOU THEN?
JJ: Uhm…I was about 24
AS THE MD JUMIA MARKET PLACE WHAT WOULD YOUR IDEAL DAY WOULD BE LIKE?
JJ: Normally I wake up early. At 5 am, be at the office by 7:30 am. My day begins by going through reports from the previous day. I then check on my team and how they are doing in terms of attaining their targets. I spend the rest of the time my day is spent in between meetings. In the evenings you will catch me with my team at Jumia Mjini (Jumia-Marketplaces offline pickup point in the CBD)
SO WHO TAUGHT YOU TO BE A BOSS?
JJ: I started aggressively during my days in the financial sector. At that time I had a really good boss-Christine Hawey. She is one amazing person I must say. She was patient with me and always gave me honest feedback regarding my work. This gave me room to grow in my career. I learned so much from her in terms of handling various situations in the work place. She was godsend.
WHAT IS THAT ONE ATTRIBUTE WOULD YOU SAY HAVE LEARNED FROM HER?
JJ:Positivism without a doubt. She cultivated an optimistic mind into me. I credit her for that.
HOW WOULD YOU DESCRIBE YOUR STYLE OF LEADERSHIP?
JJ: I think I am the type that is relaxed but strict. Most people don’t think I am strict but if I saw something that is not right I will tell you straight.
WHAT KIND OF EMPLOYEES DO YOU HIRE?
JJ: I look for people who can thrive in a smart, hardworking and collaborative environment. People who are team players who want to work to help solve the numerous challenges our clients face.
HOW DO YOU THINK YOUR EMPLOYEES DESCRIBE YOU?
JJ:Hahaa I really don’t know. I don’t think I would like to know really. Hahaha no one likes their boss…I guess.
WHY?
JJ:Sometimes it hurts especially when it is negative. Not that I am worried that my current team would say anything bad….. I just don’t want to know. When I will be far away…feel free to send me a link to an article on what they think of me (laughs)
ASSUMING THERE IS ONLY ONE JOB, LEAVE ASIDE JUMIA FOR A SECOND, YOU COULD APPLY FOR AT THIS STAGE OF YOUR CAREER, WHERE WOULD YOU APPLY AND WHY?
JJ: I would probably apply for Chief Executive Officers job at Google Inc. I am a big fan of what they do there. There is so much learning considering what the company has done over the years. Its an amazing place to work i guess.
IF YOU COULD CHOOSE A DIFFERENT CAREER FROM WHAT YOU CURRENTLY ARE WHAT WOULD BE YOUR CHOICE?
JJ: Oh maan..That is interesting; I would probably be a chef. I love to cook (Chuckles) I would make a great chef I guess.
WHAT IS THE BEST ADVICE YOU HAVE EVER BEEN GIVEN?
JJ:This is a bit strange, but it was an advice given by mum. She told me if I wanted to be happy in life, then I got to have three basic principles which I refer to as 3R. Respect for yourself, be Responsible and lastly Respect others. These are the principles that guide me today.
WHAT ARE YOU REALLY INTO OUTSIDE OF WORK?
JJ: I like to cook and travel. I have been to over eight countries in the world so far.
FAVORITE COUNTRY YOU HAVE VISITED OR STAYED IN OUT OF THE EIGHT?
JJ: That is a tricky one; I would probably say Mozambique because it is so close to the beach. But so far I would say Kenya is the best (Laughs) apart from the cold July/August weather which is taking a toll on me.
DID ANY OF THOSE COUNTRIES SURPRISE YOU?
JJ: Yes….. Angola.
Angola is like an island in the middle of Africa. Everyone speaks Portuguese despite the country being surrounded by francophone and Anglophone countries. It also has one of the expensive cities in the world. I had wonderful times there.
LETS SAY YOU ARE PACKING A BAG THAT ONLY HOLDS 3 THINGS. WHAT ARE THEY?
JJ: uhhm!.. my laptop, a smart phone and power bank. Those are the things that define me and today’s world
WHAT KIND OF PEOPLE DO YOU DISLIKE?
JJ: People who have issues with themselves and use it as an excuse to be mean to other people. They forget everyone has their own problems.
IF YOU COULD HAVE LUNCH WITH ONE PERSON, WHO WOULD IT BE?
JJ: hahaa that is a tricky one. I would mention someone but I am afraid that the guy wouldn’t pay the bill. But I will say Malcolm X. I am a real fan of him and what he did. I would also pick Mahatma Gandhi I am a fan as well but I doubt whether he would go for Nyama choma with me. I do enjoy nyama choma you know.
IF YOU HAD A CHANCE, WHO WOULD YOU TRADE PLACES OR CAREERS FOR A WEEK WITH?
JJ: I would say Romelu Lukaku, Belgian professional footballer who plays for
Premier League side Everton and the Belgium national team unfortunately I can’t run as fast as he does. Bob Collymore’s (Safaricom CEO) job would be interesting as well. …..On a second thought I think I would trade places with Jack Ma, the Chinese business magnate and philanthropist who is also the founder and executive chairman of Alibaba Group.
WOULD YOU RATHER BE LUCKY OR SMART?
JJ: That is simple. I would be smart or intelligent. Being smart or intelligent is permanent. If you combine intelligence with persistence, experience and a good attitude you will be better off. I think luck is random
HOW DO YOU DEAL WITH FAILURE?
JJ: Personally, I accept it. I try to understand where the problem could have been then try and find solutions.
WHAT IS YOUR GREATEST FEAR?
JJ: Missing out on opportunities perhaps why I try to grab every opportunity that comes my way.
By Tullah Stephen
KCB group on Thursday, reported a 14 per cent surge in its half-year pretax profits to KSh 15.1 billion. The bank attributed the result to increased lending as well as tight cost management during the period in review.
The group’s total asset declined by 1 per cent to KSh560 billion from KSh567 billion reported in the first half of the year. The group also reported a 2 per cent decline in customer deposits to KSh433 billion down from KSh443. the group’s CEO Mr Joshua Oigara, attributed the decline in both the total assets and customer deposits to the devaluation of the South Sudan pound.
Net loans also saw an 8 per cent increase to KSh321 billion to KSh347 billion in the period under review. The net interest, the revenue generated from the bank’s assets and the expenses and paying out its liabilities, also jumped by 16 per cent to KSh22.5 billion from 19.4 in the same period last year.
The Group’s Non Performing Loans (NPLs) grew 36 per cent during the six months in review, said Mr Oigara, adding that the management was pursuing more sustained recovery efforts to reverse the downward trend. The bank reported that the 2016 NPL increase was driven by three key accounts which included two in Construction and on being a Government body. According to Central Bank of Kenya, non performing ratios deteriorated to 6.8 per cent at the end of 2015, form 5.6 per cent as a result of delays in payment to suppliers and contractors.
KCB Group’s total expenses were up by 6 per cent in line with inflation, bringing the Cost to Income Ratio down from 48.6 per cent last year to 47.9 per cent.
The financials also show that total liabilities at KShs 469 Billion decreased by 4 per cent from 488 billion the previous year. The group’s equity decreased by 1 per cent due to a drop in customer deposits and depreciation of the South Sudan Pound while shareholders’ funds are up 16 per cent due to a higher profitability during the period. The group also saw its borrowed funds declined by 21 per cent due to repayment of debt.
The group also announced the postponement of its rights issue as a result of what it termed as strong projected cash flow for the full year. The group intends to raise KSh10 billion from the rights issue.
The Bank, also said the Group CEO, continues to deepen its investment in technology innovations to drive its digital banking agenda. Last week, the Bank refreshed its mobile banking application to enhance its capabilities and guarantee tighter security features.
By Tullah Stephen
East African Breweries Limited (EABL), on Thursday announced a seven per cent increase in profit for the full year ended in June 2016. The beer maker recorded a KSh10.3 billion profit up from 9.5 billion in the same period last year.
In a statement released by EABL, performance was buoyed by the growing consumption of low-end beer and spirit category. EABL products segments experienced growth with emerging beer category which includes brands such as Senator in Kenya, Ngule and Pilsner in Uganda and Tanzania respectively saw 112 per cent growth. Mainstream spirits grew by 22 per cent. The increase in senator beer volumes in Kenya saw the firm’s cash flow from operating activities increase to 32 per cent to KSh27.9 billion
Net sales were recorded at KSh64.3 billion from 64.4 billion shillings in 2015. The flat performance according to the out-going group MD, Charles Ireland was as a result of a decline in its South Sudan business as well as negative foreign exchange in the country. “The collapse of the South Sudanese market has contributed to the decline in the mainstream segment primarily due to the Tusker Lager brand which was and still is a key brand in that market.” EABL’s volumes in South Sudan fell by 60 per cent. South Sudan market accounted for eight per cent of the total revenue with Tusker Lager brand the most popular in the country.
The company made gross earnings of KSh32.2 billion however, expenses and punitive taxes ate into the brewer’s margin. For every KSh100 the company made in profit, the company retained KSh32. Net capital expenditure (CAPEX) spend for the period was Ksh5 billion, covering investment to increase capacity, efficiency and safety as well as returnables in order to meet increased demand for EABL products across the region. Total group net borrowings also decreased by 17 per cent to Ksh25 billion.
The shareholders also approved a final dividend of KSh5.50 per share. The 2016 annual dividend remains unchanged from last year’s KSh7.50 per share. During the same year, EABL also paid a special dividend of KSh4.50 per share.