Bonfire Travelers To Receive Free Travel Insurance From Britam Insurance
BusinessInsurance

Bonfire Travelers To Receive Free Travel Insurance From Britam Insurance

by Ndungu Brian
written by Ndungu Brian

Tour and travel company Bonfire Adventures has inked a deal with Britam Insurance to provide Bonfire travelers will free travel insurance.

In the deal, all domestic travelers will be insured against accidental injuries, illnesses, and death during their travel. Deaths caused by an accident will see beneficiaries paid Sh100,000. A similar amount will be paid in case of a permanent disability. Additionally, customers are covered with up to Sh40,000 for medical expenses.

“This cover is a value add to our customers and aligns with our commitment to give customers memorable experiences. This partnership is also timely as we approach the holiday season,” said Bonfire’s Chief Executive Officer Simon Kabu.

Travelers can also opt into an enhanced package for Sh600, which covers evacuation and hospitalization during their trip.

Enhanced cover benefits include Sh100,000 for death and Sh100,000 for permanent disability arising from an accident during the trip. Additional benefits include Sh100,000 for inpatient medical treatment and Sh40,000 for emergency medical evaluation during the trip.

“We want to ensure that Kenyans have peace of mind when creating memories with their loved ones; both individually and collectively,” said Evah Kimani, Britam’s Director for Partnerships and Digital, while announcing the partnership.

Britam and Bonfire also have plans to introduce travel insurance coverage for international travel as well.

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BankingBusinessNews

NBK ‘StartUp & Chill’ Mentorship Program To Pair Startups With Mentors & Advisors

by Ndungu Brian
written by Ndungu Brian

National Bank of Kenya (NBK), Growth Match Africa and UK Kenya Tech Hub have partnered in a mentorship program dubbed “StartUp & Chill” to pair startups with strong mentors and advisors that have significant domain, technical or business expertise in their respective field of business to help them realize growth.

Speaking at the 2nd edition of the Start Up & Chill event, Mr. Fred Kioko the Head of Change and Integration at NBK noted that the board advisory program will ensure that the startups gain technical know-how to build their operational capacity and therefore set themselves on a growth trajectory.

“This strategic partnership will enable startups in various sectors to remove growth barriers by providing tools to identify gaps and growth areas in their businesses and therefore, scale up. With the advisors that we have, we are hoping that by the time we are done, the signed startups will be well equipped and empowered to adequately offer their services efficiently,” said Mr. Kioko.

The program involves matching advisors with startups. The advisor profiles created by Growth Match are shared with the startups who choose which advisors they want to work with for long-term partnership based on the need in areas including sales and marketing, product development, Finance & Funding as well as Standard Operating Procedures.  The program ensures budding entrepreneurs are oriented toward sustainability, bankability and growth.

“We at Growth Match Africa are thrilled to see this initiative come to life. This business model benefits both the advisor and the startup and will disrupt the ecosystem, said Yobdar Bakri.

The UK Kenya Tech Hub Country Director, Sheena Raikundalia noted that they are excited to support the program. “It’s a win for both startups and advisors.  Startups get access to talented experts in Kenya and advisors to see what innovators are doing, and how they will disrupt and create Kenya’s future jobs.”

According to a Forbes 2019 report, 90% of startups fail due to poor management, leadership and internal processes. The program therefore seeks to prepare, nurture and grow startups to grow, be competitive and take full advantage of available markets.

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Climate Change

COP27 Addresses Water Scarcity as Crisis Loom by 2025

by Kwabe Ben
written by Kwabe Ben

Water is essential for the livelihoods not only of humanity but also for animals as well as plants to thrive in the environment, the World Health Organization has stated that by 2025, half of the world’s population will be living in water-stressed areas, and issues related to water are intrinsically linked to climate change.

COP27 Water Day provided a forum to address this with a focus on sustainable water resource management.  

The day started with the inauguration of the AWARe initiative, in partnership with the World Meteorological Organization (WMO).

The initiative will foster political efforts, practical action, knowledge sharing, and field capacity development to place adaptive water management systems at the heart of the climate change adaptation agenda, establishing a pan-African hub for water.  

“With water use increasing every year and 70% of the world’s freshwater used for agriculture, according to the World Bank, the stresses of climate change are felt more and more. Climate change systems are becoming increasingly vital and initiatives like AWARe will provide for transformational collaboration across the continent,” said COP27 President H.E. Sameh Shoukry.

 

Success stories from Africa highlighting how water systems have been successfully adapted in the face of severe climate change were highlighted which included smart irrigation, flood protection, and rainfall harvesting.

 

Attendees examined how best to go beyond these accomplishments and scale their resilience in the short term to face worsening climatic conditions. Among the points of discussion were public-private partnerships, sustainable financing, and increased community engagement.  

Over the course of the day, sessions highlighted the way forward on adaptation and climate-resilient agriculture. These included: 

  • Freshwater-use Decoupling and Water Security exploring the potential for frameworks and technology to enable resilience building to drive water security  
  • River Basin Scale Adaptation and its Co-benefits and the Risk of Maladaptation looked at mobilizing the global effort to improve water management, increasing collaborative efforts in water adaptation and the challenges of maladaptation   
  • Floods and Droughts focused on the need to have people protected by early warning systems to save lives and livelihoods. 
  • Water Mitigation looked at how best to preserve water resources in the face of climatic pressures and ensure access to safe drinking water. 

 

The focus on water at COP27 brought together diverse voices from policymakers, scientists, researchers, civil society, and government, who shared ideas and success stories related to addressing issues of water scarcity. 

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Expect More Rains In the course of the week- Met Department
Environment

Expect More Rains In Course Of The week- Met Department

by Ndungu Brian
written by Ndungu Brian

The Meteorological Department has announced that the rainfall being experienced in most parts of the country will continue through the week.

In an update issued on Tuesday, the weatherman said spatial distribution is likely to continue being poor in Coast, South-eastern lowlands, North-eastern and North-western regions of the country.

“Isolated storms are likely to occur in some parts of the Highlands West of the Rift Valley, the Lake Victoria Basin, the Central and South Rift Valley,” said the Met department.

At the same time, the Highlands East of the Rift Valley, the South-eastern Lowlands, the coast and North-eastern Kenya regions will also experience isolated storms.

Previously, the Met department had predicted below-average to no rainfall in October, November, and December which have long been wet seasons in the past.

“The Climate Outlook for the October-November-December (OND) 2022 Short Rains season indicates that most parts of the country are likely to experience depressed rainfall with higher probabilities over the eastern sector. There is a good chance that most of the country will experience drier-than-average conditions,” noted the Met department in September.

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"Expect More Rains In the course of the week
Business

Smirnoff brings Flavour with Edge Fiesta to Kisumu City  

by Kwabe Ben
written by Kwabe Ben

Kisumu: Kenya Breweries Limited (KBL), under the Smirnoff Ready, To Drink (RTD) brand, treated tens of thousands of music and fashion fans to an electrifying weekend of top acts.

The fourth iteration of the Smirnoff Unleash your Edge Fiesta delighted attendees with top-tier performances from the region's top hip-hop artists, including Khaligraph Jones, Wakadinali, Odongo Swagg, and Nexter artist Kamwana.

Starting from 2 pm, the crowd was entertained by Kaneda, DJ Grauchi, Amapiano DJ Karaoski, MC Gudah Man and DJ Ves Vester. Fashion icons At Odds kept the crowd glam with edgy streetwear fashion expressive of the brand’s ambition.

Brigid Wambua, brand manager for KBL Smirnoff, stated during the event that " Flavour with Edge is Smirnoff’s way of celebrating people and their edginess, through edutainment events, while letting Smirnoff RTD consumers discover the alternative to ordinary by creating flavor drinking experiences that are effortless, yet mischievous and distinctive."

The Campaign is a follow-up to the Unleash your Edge Campaign that was introduced earlier this year through its string of Flavour with Edge Fiesta events. It is aimed at Generation Z, which is all about good vibes, music, and fashion.

Customers only needed to purchase a bottle of Smirnoff Vodka Flavours, a six-pack of Guarana, or a bag of Black Ice from retailers like ke.thebar.com, Glovo, Chupa Chap, Naivas, and Quickmart to receive a ticket. Smirnoff RTD has a delicious and energizing flavor that can give events more intensity (variety and new experiences).

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BusinessEast Africa

ITC & EABC Launch Digital Platform To Boost Small Business Competion In E.A

by Ndungu Brian
written by Ndungu Brian

The East African Business Council (EABC) and the International Trade Centre (ITC) have launched an online platform designed to boost the competitive edge of East African small businesses.

The platform provides small businesses in the region with an avenue to support their recovery, build resilience and drive growth using digital technologies.

The platform My East African Soko or Myeasoko is developed by EABC in partnership with ITC’s 5-year corporate program One Trade Africa. Traders and service providers from across the region can interact on the platform’s web portal or mobile application to access business information, market their products online, attract international buyers and expand their trade opportunities.

Additional services available on the platform include an integrated e-marketplace, business listings portal and SME training academy. Small businesses will also have access to the required information to support their cross-border trade initiatives, this includes AfCFTA trade documents and procedures for pre-selected shipments of goods to any of the countries identifies under the Guided Trade Initiative.

Several high-level officials attended the event including EABC Executive Director John Bosco Kalisa; ITC Executive Director Pamela Coke-Hamilton; EABC Board Director Mr. Kake Dhariwal, Arusha Regional Commissioner Hon. John Mongella, MP of East African Legislative Assembly Hon. Pamela Maassay, Members of East African Women in Business Platform, British Business Group Arusha Chapter and Tanzania Association of Horticulture, YouLead Africa and Mr. Steve Machage, Lead Expert, One Trade Africa- ITC.

The launch of Myeasoko reinforces ITC’s keen focus to leverage the trend in digitization and collaborate with key business support organizations to support African women and youth entrepreneurs in broadening their opportunities through intra-African trade.

“My East African Soko will re-introduce small businesses into global marketplaces, enable them to join regional value chains and give them an opportunity to scale up” said Ms. Pamela Coke-Hamilton.

The new platform is a welcome tool for East African small businesses having borne the brunt of the COVID-19 crisis and facing the impact of the conflict in Ukraine which has compromised a tentative recovery and disrupted global supply chains.

During the event’s opening, EABC Executive Director John Bosco Kalisa emphasized “EABC has leveraged digital technologies and has developed  www.myeasoko.com to support the EAC’s economic recovery, build resilience and drive future growth for SMEs especially youth and women,” Mr. John Bosco Kalisa.

He stated SMEs provide goods and services that are better adapted to local markets; stimulate innovation; entrepreneurship, sustain economic growth and account for 60% of jobs in the EAC.

The Chief Guest, Hon. John Mongella, Arusha Regional Commissioner reiterated the Government of the United Republic of Tanzania’s pledge to provide a conducive environment for SMEs and large businesses to thrive and trade beyond Tanzania’s borders, under the leadership of H.E. President Samia Suluhu Hassan. Hon. Mongella further urged  SMEs to showcase their products and access the EAC and African markets via www.myeasoko.com.

Hon. Pamela Maassay, MP of the East African Legislative Assembly said the Assembly is steadfast to unlock barriers to intra-EAC trade and ease business through enacting bills and policies.

As part of the e-commerce services available the platform has integrated a mobile app notification system to ensure continued interaction between small businesses and EABC for efficient last-mile delivery.

The platform is also enabled to accept online payments, track product delivery, and provide 24hr customer support through an integrated chat support system and social media. Areas with low internet coverage will be able to access the platform using a mobile android application currently available for download.

The platform’s launch was a featured highlight during the regional EAC business gathering themed “Embracing New Trading Trends Amidst Global Shocks: Business Rebound & Building Back Better.”

Other industry captains at the unveiling ceremony of www.myeasoko.com  were Mr. Vincent Lasway from Kibo Palace Hotel and Doreen Wilfred Tarimo from HighLife Spirit and Managers from Tanzania Breweries Limited.

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Opinion

by By Alex Kanyi
written by By Alex Kanyi

Failure by counties to collect revenue equals a great loss for the country

The Commission of Revenue Allocation estimates that the internal revenue potential of counties in Kenya is KES216bn against the average of KES31bn which they net yearly. This essentially means that counties are missing out on an estimated KES185bn in internal revenue collections every year.

This massive gap in revenue for our counties can be blamed on several issues from corruption through to outdated and archaic manual systems and processes and mismanagement. But first, it is important to understand where the line between country and county is drawn from a revenue perspective.

Income tax, value added tax, excise duties and customs duties are revenues that are collected by the national government. At a county level, these revenue streams include property, entertainment, and other sources of revenue where the Parliament has given counties permission to collect those taxes.

Failure to maximise on the counties’ vast revenue potential has forced counties to rely on equitable revenue sent by the National Treasury.  This trend is worrying considering that there have been persistent complaints around simple things like access to medicine in our healthcare facilities.

The support that comes from our national government is simply not enough. The major reason for this comes down to one thing… money. The money that comes to the county government is disbursed late, so we are inundated with complaints from the council of governors, including one recently in which the governors were asking for the government to release the allocation to counties.

The truth is, even though the counties are entitled to KES370bn, which typically arrives late, they could do better to mobilise their internal revenue and reduce reliance on the national government. Inevitably, without proper funding, counties are not able to achieve whatever goals and ambitions they have set out which means that the governors also fail to deliver on their promises to the people.

Among the reasons for failure to collect as much revenue is over reliance on manual revenue collection. Manual systems are prone to abuse and people can easily collect cash which is not reported as part of the Counties’ revenue. Further, manual systems are hard to audit so it not easy to nab unscrupulous county employees.

Automating revenue collection has been routed as one of the solutions. The solution can work best with goodwill from governors. The governors should also build a culture of accountability and transparency in the revenue collection cycle.  Further, the governors should conduct regular audits to check their progress on revenue collection and seal loopholes.

In addition to automating systems, there is a need for collaboration with the Commission of Revenue Allocation to structurally educate counties and their leaders on proper revenue reporting procedures. Currently, there is a mismatch in how counties categorise and report their revenues.

Separately, we need to have professionals assisting governors to run the counties. Members of the County Executive Committee should bring in their expertise to run a county in the same way we have experts assisting to run reputable listed companies. Not to say that we should not have politically driven appointments but there should be more focus on professionals with some political exposure.

Devolution remains to be the best gift that the new Constitution gave to Kenyans. One can only imagine what counties would do if they only collected revenue at a rate that is near the KES216bn potential.

The revenue potential gap needs to be closed and if we do not do it soon, Kenya as a united and functional spearhead of Africa will be unable to meet its true potential.

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AgribusinessClimate Change

Over 350 million family farmers warn of global food security

by Kwabe Ben
written by Kwabe Ben

Organizations representing more than 350 million family farmers and producers published an open letter to world leaders today, warning that global food security is at risk unless governments boost adaptation finance for small-scale production and promote a shift to more diverse, low-input agriculture.

The UN Climate Summit (COP27) begins in Egypt today with 90 heads of state meeting to discuss food security and climate finance.

Over 70 networks and organizations representing farmers, fishers, pastoralists, and forest producers have signed the letter including the World Rural Forum which represents 35 million family farmers across five continents, the Alliance for Food Sovereignty in Africa which represents 200 million small-scale producers on the continent, the Asian Farmers’ Association for Sustainable Development with 13 million members, and Coordinadora de Mujeres Líderes Territoriales de Mesoamérica in Latin America. National organizations from Jordan to the UK and India have also signed.

“The producers in our networks feed millions of people and support hundreds of thousands of jobs but they have reached a breaking point. There needs to be a massive boost in climate finance to ensure small-scale producers have the information, resources and training necessary to continue feeding the world for generations to come,” said Elizabeth Nsimadala, President of Eastern Africa Farmers Federation, which represents 25 million food producers and is a signatory to the letter 

The letter warns that the ‘global food system is ill-equipped to deal with the impacts of climate change, even if we limit global heating to 1.5C’ and says ‘building a food system that can feed the world on a hot planet’ must be a priority for COP27.

“$611 billion is spent subsidising food production every year – much of it on industrial, chemical-intensive agriculture that is harmful to people and the environment. This can’t continue. Leaders must listen to farmers and put their political weight and financial muscle behind a shift to more diverse, sustainable and empowering food production – especially agroecological farming, fishing, forestry, herding and pastoralism,”said Ma Estrella Penunia, Secretary General of the Asian Farmers’ Association for Sustainable Rural Development which represents 13 million farmers across Asia.

Small-scale producers are critical for global food security, producing as much as 80% of the food consumed in regions such as Asia and Sub-Saharan Africa. Yet they accounted for only 1.7% of climate finance flows in 2018– just $10 billion compared to the estimated $240 billion a year needed to help them adapt to climate change.Progress on finance is key to success at COP27.

At the Glasgow climate summit in 2021 wealthy nations agreed to double overall funding for adaptation to $40 billion a year by 2025 –still only a fraction of what is required.

“Food and agriculture have been sidelined in climate negotiations and the concerns of small-holder producers ignored. Small-scale family farmers need a seat at the table and a say in the decisions that affect us – from secure access to land and tenure, to accessing finance – if we are to rebuild our broken food system,” said Laura Laura Lorenzo, Director of the World Rural Forum.

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Jiji Users Set to Reap Big this Black Friday Season
Business

Jiji Users To Reap Big This Black Friday Season

by Ndungu Brian
written by Ndungu Brian

 Jiji Kenya has today announced Black Friday offers for both the buyers and sellers on their platform. 

Sellers who purchase the Premium Prices ranging from one month to one year during this month will enjoy up to 20% discount for each of the packages.

The platform also has a Black Friday landing page where sellers have posted products with slashed prices and major discounts in different categories, such as cars, electronics, property, fashion, mobile phones and tablets.

A Mastercard study on consumer spending has revealed that nearly four out of five (79%) surveyed consumers in Kenya are shopping more online since the onset of the COVID-19 pandemic.

An overwhelming 92% of consumers in Kenya said they had paid for data top-ups online, 67% for clothing and over 56% said they had bought computers and other equipment. And, with fewer opportunities to browse in the mall or on the high street, online shopping apps have emerged as the main platforms for finding the most attractive products and offers. In fact, 80% of typical in-store bargain hunters said they spend hours searching different sites to find the best deals.

“This month is a shopping season for most buyers and we want to make it as easy as possible for buyers to cross everything off their shopping list from the products our sellers have on the platform. That’s why we introduced the Black Friday offers for both our sellers and buyers.  This will feature savings throughout the season,” said Maksym Golubev, East Africa Regional Manager, Jiji Kenya. “Our expanded Black Friday Sale is to help both buyers and sellers get the maximum benefit during this shopping season.”

Jiji’s Black Friday is quite different from the popular e-commerce sites. They have a system that automatically selects all sellers who have reduced the prices of their products. The system then calculates the accurate percentage discounts of those products, which are then displayed on the Jiji Black Friday landing page. The offers include hundreds of markdowns on accurately discounted products, across the major categories.

The sellers on Jiji have much to crow about after the new introduction of 20% discounts for the Premium Services ranging from; Premium, VIP, VIP Gold, Diamond (Lite and Pro-max) and Enterprise (Lite, Standard, Pro-max, Gold). Premium Services are promotion tools for the sellers which help to advertise the items as much as possible in the particular category, to sell all the goods faster and get in several times more clients.

“We guarantee shoppers the best prices that are verified and proven to be actual discounts. This gives us authenticity, in an industry that is corrupted with “fake deals” to buyers. This distinctly online event will present many opportunities for brands and retailers. Many sellers, who were previously operating offline are on Jiji Kenya, as we have over five million active ads, We, therefore, believe that our Black Friday approach is set to reap the very big rewards.” Grace Gikonyo, Head of PR, Jiji Kenya.

“Although the discounts won’t be around forever, the sale is a great opportunity for sellers to invest in long-term Premium Services as they save big and reap big from the buyers who will take advantage of their discounted products before the sale wraps up in November, 30th”

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BusinessClimate Change

Volkswagen Assures to Go Green By 2030 In Africa

by Kwabe Ben
written by Kwabe Ben

Volkswagen is exploring opportunities of manufacturing electric vehicles (EVs) in Africa by 2030.

The manufacturing of EVs in Africa is dependent on factors such as the method of generating electricity, the stability of the power grid, availability of charging infrastructure and customer interest.

 

Martina Biene, Chairperson and Managing Director of Volkswagen Group South Africa (VWSA) commented, “We believe that Africa has the potential to leapfrog from internal combustion engines (ICEs) into EVs due to a growing young population who are embracing the need for carbon-neutral mobility. Africa is blessed with natural resources for renewable energy such as sun and wind. These could be used to power the EVs as well as provide energy at home. The potential for sustainable mobility on the African continent is immense.”

 

Chris Ndala, DT Dobie Managing Director said, ‘‘At a time when there is a growing global concern about climate change which is the greatest existential challenge of our times, Volkswagen’s plans to introduce EVs in Africa is a welcomed change. The local assembly of four Volkswagen models at KVM, in Thika makes Kenya the second country in Africa after South Africa where Volkswagen established operations.’’

 

During her visit to Kenya this week, as part of the business delegation which accompanied South African President Cyril Ramaphosa on his state visit to the country, she met with the representatives of Kenya Association of Manufacturers (KAM), to discuss Volkswagen’s investment and challenges faced by the automotive industry in Kenya.

 

She reiterated Volkswagen commitment to Kenya, “We will continue working with key partners to develop the local automotive industry. With the right policies and partnerships, Kenya has the potential to be the major automotive market and a hub for other markets in the East Africa region,” she noted.

 

“To further enhance the growth of the new passenger car market and move into a higher degree of localization of parts, the demand for new cars needs to be increased. One such issue is the importation of used cars, which remains a dominant presence in the automotive industry in many African countries, but which is stagnating the sale of new vehicles.”

 

Bien opined that automotive manufacturers may be reluctant to invest in a country where imported used cars are still the primary source of mobility. Volkswagen is satisfied with the progress Kenya has made to industrialize its automotive industry but more should still be done to address this issue. She emphasized to KAM the importance of a speedy implementation of the automotive policy to attract other major automotive brands to invest in Kenya.

 

Kenya holds special significance for Volkswagen; not only is it the first country Biene has visited since she took up her position on 1 November.The Volkswagen brand currently has assembly facilities in Kenya, Rwanda and Ghana, but the facility in Thika, Kenya was the first of these investments in 2016.

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