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KEBS
Business

KEBS Lists Cooking Oils Which are Safe for Consumption

by Kwabe Ben September 27, 2022
written by Kwabe Ben

The Kenya Bureau of Standards (KEBS) has further addressed the issue of banned cooking oils urging that the edible oils and fats in the market are safe for use except for specific batches it had listed on its recall list.

KEBS had earlier on called for a suspension of the sale of 10 edible oils brands citing standards of non-compliance as a result of sampling from various shops in the country which brought confusion among consumers.

KEBS has now put out a list of the specific batches that were suspended from the market despite the batch owners defending their production lines as having followed the guidelines of production.

Of the banned products, Bidco was ordered to recall Bahari Fry batch number 107921 and Olive Gold batch 105948.

Pwani Oil on the other hand was to recall Fresh Fri batch FF1L17487D, Fresh Fri with Garlic Oil batch number FF500175260, Fry Mate (8941D), and Salit (SS1L17472D).

The other batches that were recalled were Kapa Oil refineries’ Postman (0210322B), Rina (0340522B), and Tilly (152222A).

Menengai’s Oil Top Fry batch number OL4A3 MF9.25.05.22 was also among the 10 brands that were recalled by KEBS in the letter addressed to the Retail Traders Association of Kenya.

KEBS said the above-mentioned oils and cooking fat brands failed to meet requirements of the Standards Act and were therefore unfit for human consumption.

“We wish to reassure the public that whatever else that is in the market from the respective brands is safe and there is no cause for alarm,” stated KEBS.

September 27, 2022 0 comment
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Equity Bank recognized as Best Bank in SME Financing by SFI Catalyst Awards
BusinessNews

Equity Bank Recognized As Best Bank In SME Financing by SFI Catalyst Awards

by Ndungu Brian September 27, 2022
written by Ndungu Brian

Equity Bank Kenya has been recognized by the Kenya Bankers Association (KBA) at the 2021 SFI Catalyst Awards for its efforts in championing sustainable finance initiatives in support of the region’s economic recovery and resilience.

The Bank whose business model is hinged on its social and economic engines clinched top position in the Best Bank in COVID-19 Response and Best Bank in SME Financing award categories and first runners-up in the Best Overall Bank after bagging 7 awards out of the possible 8 categories.

Besides the three categories, Equity also took the 2nd runners-up place in four award categories namely; Best Bank in Sustainable Finance, Best Bank in Financing a Commercial Client, Best Bank in Promoting Gender Inclusivity and Most Innovative Bank following a close review and evaluation by a select panel of judges drawn from cross-functional sectors of the economy.

The SFI Catalyst Awards were established by the KBA to celebrate and recognize member banks that continue to make significant strides towards enhancing bank practice, leadership and innovation thus impacting its customers and stakeholders environmentally, socially and from a governance perspective.

Equity Bank recognized as Best Bank in SME Financing by SFI Catalyst Awards

Equity Bank Kenya Sector Head Pamoja Banking, Benignas Muema (3rd left), Equity Bank Lavington Supreme Business Growth and Development Manager, Florence Muthama (3rd right) and Equity Group Foundation Manager Energy and Environment, Anne Kitelesi (right) receive the Best Bank in Financing a Commercial Client 2nd runners-up certificate and trophy from WWF-Kenya Head of Conservation Programmes, Jackson Kiplagat (2nd left). Looking on is Kenya Bankers Association, CEO Dr. Habil Olaka (left) and Capital Markets Authority Manager Issuer Governance Edwin Ongera (2nd right). Equity ranked 2nd best overall in this year’s award schedule garnering top positions in 7 award categories.

Equity Bank Kenya’s Managing Director, Moses Ndirangu, Director of Corporate Banking said, “The recognition by the Kenya Bankers Association is timely and validates how doing good has a direct influence on doing well. We are humbled that Equity’s defensive and offensive strategy has paid off and continues to get local, regional and global recognition.”

Also speaking at the award ceremony, Kenya Bankers Association CEO Dr. Habil Olaka said, “The annual ceremony has become a hallmark event celebrating banks that have put the economy and environment at the center of their businesses. As the banking community, we need to work beyond financial gain and look at socio-economic responsibilities away from the focus on profitability.”

In support of the COVID-19 response, Equity Group invested Kshs 1.7 billion to support government and community efforts in fighting the pandemic. This included the provision of PPEs to frontline health workers in 116 Public and Mission Hospitals who also benefitted from psychosocial support.

Additionally, the Bank restructured loans and offered loan repayment moratoriums to its customers enabling them to restructure, retool and repurpose. A move that played a critical role in cushioning businesses that were operating in a tough economic environment. Equity accommodated and rescheduled up to 45% of its loan book and waived Kes 1.2 billion in rescheduling fees with an additional focus on lending to its customers during the COVID-19 period, resulting in a 30% growth in the overall loan book.

September 27, 2022 0 comment
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Mastercard sets GUINNESS WORLD RECORDS for the ‘Highest Altitude Game of Football (Soccer) on a Parabolic Flight
AfricaAwards & RecognitionNews

Mastercard Sets Guinness World Record For The Highest Altitude Game of Football On A Parabolic Flight

by Ndungu Brian September 27, 2022
written by Ndungu Brian

Mastercard has set a GUINNESS WORLD RECORDS™ title for the ‘Highest Altitude Game of Football (Soccer) on a Parabolic Flight’ alongside football legend Luis Figo and a diverse team of football heroes from across the Middle East, Europe, and Latin America.

The first-of-its-kind football game was played at an altitude of 20,230 ft (6166.1 m) in zero gravity conditions, taking the game to a place where no match has gone before.

Through this campaign, Mastercard is celebrating the world’s love for football by taking fans’ passion for the beautiful game to unprecedented heights.

The out-of-this-world game between two four-player teams was played on 20 August 2022. Football legend Luis Figo was on board with seven other players selected to earn their place on the historic flight. The record was presented by an Official Adjudicator from GUINNESS WORLD RECORDS™ and verified by two witnesses as Figo effortlessly dribbled the ball across a 75-square meter football field specially set inside the aircraft.

Mastercard sets GUINNESS WORLD RECORDS for the ‘Highest Altitude Game of Football (Soccer) on a Parabolic Flight

Mastercard sets GUINNESS WORLD RECORDS for the ‘Highest Altitude Game of Football (Soccer) on a Parabolic Flight

“As a long-standing partner of the UEFA Champions League since 1994, Mastercard is committed to supporting the game at every level by connecting people to their passions and providing Priceless moments to fans across the globe. We are thrilled to have set a GUINNESS WORLD RECORDS™ title for the highest altitude game of football on a parabolic flight alongside legend Luís Figo and our seven everyday heroes,” said Beatrice Cornacchia, Senior Vice President, Marketing and Communications, EEMEA, Mastercard.

Luis Figo, a Mastercard ambassador, has been part of several Priceless surprises around the world, captivating audiences with his experiences as a top player. Figo, the 2000 Ballon d’Or recipient, played for some of Europe’s best clubs including Sporting CP, Barcelona, Real Madrid and Inter Milan, winning 127 caps for the Portugal national team.

“Football transcends boundaries and unites people around the world. I have played in stadiums where the electric atmosphere sparks emotions that cuts across cultures and nationalities; this was the exact same experience I had playing this beautiful game at 20,000 feet above the ground with a group of fearless football fanatics taking their passion for the sport to unprecedented heights,” remarked Figo.

“Football continues to be a sport enjoyed in every corner of the world. At Guinness World Records™, we meet people with different backgrounds every day. By declaring this new achievement Officially Amazing™, we hope it will contribute to bringing communities together through the shared love of the sport and the excitement of seeing incredible records being broken,” said Shaddy Gaad, Senior Marketing Manager – Guinness World Records™.

Mastercard sets GUINNESS WORLD RECORDS for the ‘Highest Altitude Game of Football (Soccer) on a Parabolic Flight

Mastercard sets GUINNESS WORLD RECORDS for the ‘Highest Altitude Game of Football (Soccer) on a Parabolic Flight

Mastercard has a rich history of connecting people to their passions, their enthusiasm for sport, and bringing them once-in-a-lifetime experiences.

During Expo 2020 Dubai, Mastercard hosted its Priceless Surprises series to connect guests to their passions at the global event. Among its hero activities, the company presented football enthusiasts with a unique opportunity to meet Luis Figo as well as a chance to see the UEFA Champions League Trophy, bringing football fans closer to the sports icon.

Mastercard partners with a range of organizations across sports, music, fashion, arts and entertainment around the world. Mastercard’s partnership with UEFA Champions League dates back to 1994 and the brand has been an active supporter of women’s football for more than 25 years.

 

September 27, 2022 0 comment
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Dating Tips

Best dating sites for over 50

by Wanjiku Mbugua September 26, 2022
written by Wanjiku Mbugua

Many local newspapers had online personals in the mid 1990s but were bought out by these big dating sites. From some of the comments it really shows how desperate dating sites are for money that they even advertise in comment sections. You have a much better chance going to local events and you will probably spend less than what you would spend on an online dating site.

Other apps have indicated that they might actually move closer to Facebook. For example, Bumble, founded by a former Tinder executive, said they had already reached out to Facebook regarding how to collaborate. And, “One thing everyone seems to agree on is that Facebook’s effectively endorsing online dating will be a huge legitimization event for the industry,” says Jefferies Internet analyst Brent Thill. According to Amanda Bradford, chief executive of The League, an elite dating app, “Facebook is validating that dating is a high-tech industry with really interesting and hard problems to solve. Still, Facebook could face some obstacles in building enough separation between the dating service and the legacy social network; some users might not like having both activities live on one app.

After giving him some time to cope with his cat passing away, he made plans to see her again and she was thrilled. He canceled the date last minute again because he said his grandma had died. Although this seemed too tragic to be true, she gave him the benefit of the doubt that he was telling the truth. Additionally, if someone is giving you a checklist right away of all of the things they want in a future partner, this may be a red flag for some controlling behaviors. It’s one thing if they express their non-negotiables but it’s another thing entirely if they are listing required traits. If you feel like someone is already trying to change things about you to suit their needs, that’s not okay. How someone initiates a conversation with you will say a lot about how they view you as a person and how they might treat you as a partner.

Online dating users are more likely to describe their overall experience with using dating sites or apps in positive, rather than negative, terms. Some 57% of Americans who have ever used a dating site or app say their own personal experiences with these platforms have been very or somewhat positive. Still, about four-in-ten online daters (42%) describe their personal experience with dating sites or apps as at least somewhat negative. Happily, there are some dating services that are looking to overcome the vanity. For example, Hinge matches people based on personality and preferences and lets you create a more interesting and rounded profile to draw people in. One of the few dating sites designed for affairs, Ashley Madison connects users for discreet encounters.

Basically all a guy like you has to do is instantly grab her attention in a memorable way with both your profile and your messages, then spend the least amount of time possible convincing her to meet you in person. For those who are hesitant to enter the online dating world for reasons related to safety or awkward conversation lulls, Double aims to take the pressure off with Double dates as opposed to one-on-one.

State things that are really important to you and be done with it. Connor turned an attempt at small talk into a rant about “gold-digging whores,” and the dating app was not having it. Matt- But what about when you said you would meet me in real life and we would lose our virginity together. One Love educates young people about healthy and unhealthy relationships, empowering them to identify and avoid abuse and learn how to love better. If you are going somewhere that serves alcoholic beverages, most bartenders are using secret codes to help customers signal, privately, when they need help if they’re getting harassed or feeling unsafe on a bad date.

With no financial requirement, free sites will naturally attract a greater proportion of people who are not really committed to finding a genuine relationship. Memberships you gain additional features such as being able to send more messages and receiving event discounts.

September 26, 2022 0 comment
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Huawei
Business

Huawei Inks Deal With Absa to Boost Digital Banking

by Kwabe Ben September 26, 2022
written by Kwabe Ben

Chinese telecoms giant Huawei on Friday partners with Absa Bank Kenya to promote digital banking services in the country as they ensure financial services are aligned with evolving needs of a young clientele base.

Through a partnership with Absa Bank Kenya, Huawei technologies will support the establishment of a cutting-edge platform to power the bank’s corporate digital transformation, said the Chinese technology firm in a statement.

“The partnership involves establishing a software-defined wide area network (SD-WAN), hailed as the next generation technology and service designed to connect the bank’s branches, and promote smart branch upgrades by constructing a powerful network based on cost-effectiveness, agility, flexibility, scalability, security, and compliance,” read the statement.

It noted that Absa’s 83 branches countrywide alongside 212 Automated Teller Machines (ATMs), and internet and mobile banking services will benefit from the digital platform.

The Huawei, Absa Bank Kenya partnership is anchored on the bank’s digital transformation process that includes creating a cloud-based network between its headquarters and branches to facilitate service expansion.

Moses Okudi, the Absa Bank Kenya Chief Information Officer (CIO), said that a robust digital infrastructure will be critical to quality service delivery in a rapidly evolving financial services landscape.

“We strive to offer our customers a real-time, seamless digital experience to enable them to bank and transact seamlessly at the convenience of wherever they are,” said Okudi.

Technical teams from Huawei and Absa Bank Kenya have already conducted in-depth discussions and surveys to ensure the rollout of the bank’s digital transformation strategy was devoid of hitches.

By transitioning to digital and intelligent customer care services, the bank will sustain the momentum that peaked at the height of the Covid-19 pandemic when cashless transactions became the norm.

September 26, 2022 0 comment
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Liz Aluvanze appointed as Kenya Association of Air Operators CEO
BusinessNewsWomen in Business

Liz Aluvanze Appointed As Kenya Association of Air Operators CEO

by Ndungu Brian September 26, 2022
written by Ndungu Brian

Kenya Association of Air Operators (KAAO) has appointed Engineer Liz Aluvanze as the CEO following the retirement of Col. (Rtd) E. K. Waithaka who held the position for 25 years.

KAAO is a national umbrella body whose role is to promote, foster, enhance, and protect the interests of those engaged in the Aviation Industry and allied businesses.

Liz Aluvanze brings a wealth of experience as an air transport professional with knowledge and skills in Air Transport Strategic Management, Engineering, Regulatory Policy and Air Law, Client Relationship Management and Contract Negotiations.

Liz is an Air Transport Master’s graduate of Cranfield University and holds a (BEng) in Aerospace Engineering from Manchester.

Prior to her appointment she worked at the Kenya Civil Aviation Authority (KCAA) and has worked with various airlines including Kenya Airways and Fastjet.

“The Executive Committee appreciates the leadership and expertise the association received from outgoing CEO Col. (Rtd) E. K. Waithaka, and we wish him the best in his future endeavors. Col (Rtd) has had an illustrious career and his experience and expertise will continue to be a great resource to the association including the management, staff and the air transport industry,” said Mr. Mbuvi Ngunze,  Chairman of KAAO.

“The Executive Committee welcomes Liz Aluvanze into her new role and we look forward to tapping from her knowledge and skills as we work towards a new chapter for the association and its membership towards creating a safe, secure, sustainable and vibrant air transport system,” he added.

The Kenya Association of Air Operators (KAAO) was created in 1965 to promote and enhance a safe, efficient and sustainable national aviation industry.

September 26, 2022 0 comment
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KCB recognized as best bank in sustainable finance by Kenya Bankers Association
Awards & RecognitionBusiness

KCB Recognized As Best Bank In Sustainable Finance

by Ndungu Brian September 26, 2022
written by Ndungu Brian

KCB has been named the Best Bank in Sustainable Finance by the Kenya Bankers Association (KBA), in recognition of its efforts in creating a more sustainable business enterprise environment through its deliberate socio-economic interventions.

The Bank also emerged second Runners-Up in the category of Best Bank Response to the Covid-19 pandemic.

The awards spearheaded by KBA under its Sustainable Finance Initiative (SFI) Catalyst Awards recognizes financial sector players for their commendable progress in creating long-term value by funding initiatives designed to mitigate the negative impacts of climate change, build a resilience socio-economic environment, and help build a more sustainable future for humanity.

The award comes at a time when institutions are being called upon to embrace sustainable practices by adopting the UN Sustainable Development Goals (SDGs) as a guide to assist in the attainment of reduced global net human-caused emissions of carbon dioxide by about 45 percent by 2030.

To align, the Group has adopted 9 of global goals, to ensure it creates the most impact on the environment, society, and economy. These are tracked through various key performance indicators that are championed by various businesses within the organization.

“We are privileged and honored to be the top mover of the Sustainability Agenda. The win reinforces our commitment to building a brand that is not only focused on profits alone but on the customers and the communities we serve. At KCB, we acknowledge that we are in a decade of action that requires us to fast track our ambitions in achieving sustainable development by 2030.” said KCB Group CEO Paul Russo.

In line with the Groups that adopted SDG 13 –Climate Action, we are aware of the effects our operations may have on the environment and life on earth. We are therefore stepping up our climate finance initiatives with strategic partnerships. These have been established through meaningful collaborations with the International Finance Corporation (IFC) and Global Climate Fund (GCF) to finance green economies that will aid in the mitigation and adaptation effects of climate change.

KCB Group has been accelerating sustainable finance not only in Kenya but also across the region, consequently accelerating the transition to a low-carbon resilient.

September 26, 2022 0 comment
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itel Donates a Bunch of Educational Materials to Meru Primary School
EducationNews

iTel Donates Educational Materials To Meru Primary School

by Ndungu Brian September 23, 2022
written by Ndungu Brian

Phone maker iTel has donated 30 bookshelves, 1000 textbooks, 20 whiteboards, and educational materials such as stationaries, school bags, tablets, notebooks, and other writing materials to Meru Primary School, Meru, through its Love Always On CSR Initiative.

iTel is dedicated to making sure consumers enjoy a better life and with a proven track record of selflessly donating to schools and low-income communities around the country, itel believes strongly that children are the future of society and should be treated with care and love. It, therefore, comes as no surprise that they support the education of children and have donated items to aid their learning efforts – said the company in a statement

“We have always had a soft spot for children at itel. And with our Love Always On CSR initiative, we are especially dedicated to creating opportunities for them and supporting their dreams,” says Qi. Peng, itel’s Marketing Manager. “We plan to donate more libraries and educational items to schools around the country because we believe this is what we should as a brand.”

The teachers and parents were also all smiles and could not believe the magnitude of itel’s gesture of care and love. “This is beyond what we expected. For itel to do something like this for three schools in one day, we are thankful,” says one of the children’s teachers.

itel believes it is raising the bar on what brands should be and should do for society at large.

September 23, 2022 0 comment
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Kisumu Governor hosts county heads from Five Nyanza Counties to discuss development agenda
Editors choiceNewsSpecial reports

Kisumu Governor Hosts County Heads From Nyanza Counties To Discuss Development Agenda

by Ndungu Brian September 22, 2022
written by Ndungu Brian

H.E. Prof. Anyang’ Nyongo’ on Thursday hosted county heads and representatives from the Five Nyanza Counties bordering Lake Victoria under the auspices of Port City Kisumu.

The meeting focussed primarily on the Lakefront regeneration initiatives to spur economic growth and development in the region

Kisumu Governor Prof. Anyang’ Nyongo’ presents The Kisumu Handbook ‘Soaring With The Eagles’ produced by the East African Business Times

The meeting was set to discuss the development agenda in the lake region, focusing on the five neighbouring counties. As a special purpose vehicle, the Kisumu Lakefront Development Corporation is in the process of engaging partners to help spur the growth of Blue economy in the region.

In attendance were Governor Gladys Wanga of Homabay County and Migori Deputy Governor Joseph Gimunta Mahiri.

September 22, 2022 0 comment
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KCB shareholders approve the acquisition of Trust Merchant Bank SA in DRC
BusinessEast AfricaNews

KCB Shareholders Approve Acquisition Of TMB Bank In DRC

by Ndungu Brian September 22, 2022
written by Ndungu Brian

KCB Group Plc shareholders have approved the proposed acquisition of the DRC-based lender Trust Merchant Bank SA (TMB) during an Extra Ordinary General Meeting in Nairobi.

In August 2022, KCB Group Plc entered into a definitive agreement with shareholders of TMB to acquire the Bank.

Under the terms of the transaction, KCB will acquire 85% of the shares in TMB while the existing shareholders will continue to hold the balance for not less than 2 years after which KCB will have the right to acquire their shares.

TMB, a public company limited by shares, is one of DRC’s largest banks, with US$1.5 billion in total assets.

TMB has a strong offering in Retail, SME, Corporate, and Digital banking channels. It has 109 branches and numerous agency banking outlets spread across DRC. With an insurance subsidiary called Affrissur SA, the transaction will provide a good platform for KCB to diversify its offerings in the region.

The acquisition is part of KCB’s ongoing strategy to expand its regional participation, accelerate growth and maintain sustainable long-term regional success while investing in and maximizing the returns from its existing businesses.

This will give KCB the opportunity to conduct business in the DRC market, the newest member of the East African Community.

“The shareholders’ nod is a major milestone for us to accelerate the acquisition process which will allow us to scale up our balance sheet, revenue streams and contribute positively to KCB’s growth and diversification objectives.” Said KCB Group Chairman Wambari Kairu.

“In turn, KCB will be able to rapidly establish its presence within DRC by leveraging TMB’s 18-year operational history and vast branch network. In addition, the transaction will position KCB strongly with the resultant effect being enhancing its ability to compete with other financial service providers strongly and effectively in DRC and regionally. This will have long-term benefits for shareholders, customers and employees enabling KCB to realize its long-term vision and mission.” He added.

The transaction is expected to close before the end of the year, subject to regulatory approvals and other customary closing conditions. This acquisition is aligned with the Group’s strategic focus of scaling its regional presence.

Once completed, TMB will complement KCB Group’s footprint with an asset base of KShs. 1.5 trillion (US$ 12.6 billion) and is expected to strengthen the Group’s retail and corporate banking franchises.

September 22, 2022 0 comment
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