Category: BUSINESS

  • Akiba na Mrembo Program a Game Changer

    Akiba na Mrembo Program a Game Changer

    “Bahati Member of Parliament The Honorable Irene Njoki aka Mrembo na Kazi has continued to implement her Akiba na Mrembo Program,” she notes.

    “Financial mobilization is one of the pillars under the AKIBA NA MREMBO EMPOWERMENT PROGRAM. Groups are trained and guided on how to access government affirmative funds.

    Today, Bahati Mp Hon Irene Njoki paid a courtesy call to Youth Fund CEO Mr. Josiah Moriasi to discuss on the possible partnership between her office and the Youth Fund office so that Bahati youths can be trained and facilitated to access and benefit from Youth Fund’s interest-free loans.

    Youth Fund offers a variety of loans to individuals and groups in the youth bracket. Hon Irene Njoki is calling upon bahati youths to take advantage of these interest-free loans with flexible repayment terms to grow their own SMEs and in return create more employment for themselves and for their fellow youths.

  • Bottneuro uses Samsung Technology to provide Bottneuros digital diagnostic solutions for the Diagnosis and Treatment of Alzheimer’s Disease

    Bottneuro uses Samsung Technology to provide Bottneuros digital diagnostic solutions for the Diagnosis and Treatment of Alzheimer’s Disease

    With medical technology continuing to evolve and offer the latest solutions and treatments to patients, Samsung Electronics Switzerland has been aiding the advancement by developing its products.

    Samsung collaborated with Bottneuro AG, a Swiss MedTech startup dedicated to improving the diagnosis and treatment of Alzheimer’s disease and to bring an innovative and enhanced diagnostic and treatment solution to patients. Bottneuro AG has chosen Samsung Galaxy Tab S8+ Enterprise Edition hardware to store and record therapy data in the Bottneuro Solution.

    Powerful Therapy through Innovative Technologies

    Bottneuro AG’s technology identifies areas of the brain affected by the disease through 3D magnetic resonance imaging (MRI) and positron emission tomography (PET) imaging data. Once identified, these regions can be targeted and electronically stimulated with Miamind® neurostimulator technology. The Galaxy Tab S8+ Enterprise Edition simplifies handling the Bottneuro solution via a graphical interface.

    Patients who suffer from dementia often experience reduced cognitive function in the early stages of the disease, making the need for finding a device that is easy to operate and understand imperative for Bottneuro AG. With its intuitive interface and usability, the Galaxy Tab S8+ provided the optimal hardware for the Bottneuro solution.

    “We were looking for a simple and reliable solution for our application. We found it with the Galaxy Tab S8+ 5G Enterprise Edition and Samsung is giving us great support in the development,” said Julius Klaas, CTO of Bottneuro AG.

    Seamless Solutions in a Single Galaxy Tablet

    The Galaxy Tab S8+ 5G Enterprise Edition offers a plethora of features and capabilities. It comes with a high-resolution Super AMOLED display providing brilliant clarity for both patients and healthcare providers and offers reliable long-lasting battery life.

    The Miamind® neurostimulator is also directly powered by the Galaxy Tab S8+ 5G Enterprise Edition, and once treatment is complete, the Galaxy Tab S8+ automatically transmits diagnostic and treatment information contained within the Bottneuro solution to Bottneuro AG via 5G data connectivity, allowing patients to stay in the comfort of their home. Additionally, the Galaxy Tab S8+ 5G Enterprise Edition can be individually configured through Samsung Knox, keeping sensitive data and medical records private and protected.

    Partnerships for the Future

    Groundbreaking innovations such as these would not be possible without partnerships, and Samsung is proud to have been supporting and working with Bottneuro AG since its founding in 2021.

    “We are pleased to offer Bottneuro AG a reliable, safe and simple solution with Samsung Knox and to support their novel therapy approach,” added Daniele Casella, Head of MX B2B Mobile at Samsung Switzerland.

    The effectiveness of Bottneuro AG’s new therapeutic treatment will be tested in several clinical studies this year. While the treatment is not commercially available yet, Bottneuro AG and Samsung remain optimistic about the progress that can be made to treat Alzheimer’s disease.

    For more information on Bottneuro AG and Samsung’s partnership, visit Samsung Newsroom Switzerlandwww.bottneuro.com or www.miamind.com.

  • Why Your First Electronic Car Might Be Chinese

    Why Your First Electronic Car Might Be Chinese

    Your next Electric Vehicle (EV) is likely to be Chinese if not Asian for various reasons. In recent years, the EVs industry across the Asia-Pacific region has really developed. This is decorated by the region accounting for the largest share of battery electric vehicle (BEV) sales worldwide. Additionally, statistics have been showing higher growth than its western competitors with its EV sales. Sales of BEVs in the region have increased significantly in the past decade. Moreover, it was projected that China had the highest number of EVs in use and was forecasted to continue to produce the biggest volume of electric vehicles in the Asia-Pacific region in 2023. Together with Japan and South Korea, the three East Asian countries are industry leaders in the field of electro-mobility across the world.

    It is worth noting that China is clearly taking the lead in the global Electric Vehicles development by motivating the public and private sectors, making its consumers show a faster pace to adopt electric vehicles compared to other countries globally. China got it right with phones and that is why the majority of citizens from this part of the world are using Chinese phones and for sure without an iota of doubt, they have once gotten it right with EVs. Various surveys done by various researchers clearly show that Chinese automakers are making inroads after spending years preparing to meet the growing demand for electric vehicles and the batteries that power them. Automakers globally are partnering with Chinese battery makers to power their EV fleets. Various Electric Vehicle dealers such as East Africa’s Go Electric Limited through its brand dubbed Utu have partnered with various Chinese automakers as they are of higher quality and affordable. Just like most citizens currently in our region are preferring Chinese phones to other phones available in the market because of their affordability and user-friendliness. Against the same backdrop, the world is preferring Chinese EVs because the electric auto manufacturers from this Asian Tiger economy are able to develop cost-effective advantages and localization strategies that have made them penetrate the market with ease.

    Approximately a quarter of all cars newly manufactured in China are now EVs or plug-in hybrid vehicles, meaning that the country is ahead of its peers in Europe and well ahead of the US in the adoption of these technologies. Half the world’s EVs are sold in China. And this is largely driven by government mandates and incentives. For more than a decade, the Chinese government has subsidized EVs buying. The value of these subsidies has fallen over time, and they are due to end by 2023, but there are still plenty of reasons why buying an electric car is a financial no-brainer. Countries such as Japan didn’t give EVs much-needed attention and they will have to play a second fiddle as China leads the way hence your next EV is likely to be Chinese.

    Europe’s automakers are already losing market share to China due to a lack of competitive electric vehicles, and they risk doing so at home too, where Chinese carmakers already account for 5% of the EV market. Chinese- manufactured automobiles are of far higher eminence than those other countries tried to impose on European consumers over a decade and a half ago. China’s auto exports rose over 50% in the first nine months of last year, shipping out over 2 million vehicles. This isn’t just western automakers using China as an export hub; homegrown brands are also finding their footing on the world stage. And demand is being led by Europe, the birthplace of the automobile, where a supply-chain crunch, energy crisis and war in Ukraine continue to hamstring manufacturers.

    In the last few decades, China has made huge progress in science and technology. This is due to key drivers behind this upward trend include; a high level of spending on research, and development and the high number of patent applications made by Chinese companies and institutions. From the Chinese economic development, national security, and environmental protection, it is certain that China’s electric vehicle market will be a core sector of the automotive industry.

    The country’s central government has invested heavily over the past decade to spur growth in the new energy vehicle (NEV) industry, leveraging a mix of policy, tax incentives and consumer subsidies. As of 2020, EVs must account for 12 percent of production for any company that manufactures or imports more than 30,000 vehicles in China (up from a 10 percent requirement the previous year). The government has also deeply subsidized consumers’ EV purchases with more than $14.8 billion since 2009, providing up to $3,600 for battery electric vehicles (BEVs) with more than 400 km range, though those rebates were first halved, then eliminated by 2021.

    Despite the fact that western automakers overcame the competitive challenge from Japanese and Korean manufacturers in the past, the challenge is bigger this time because EVs are a new technology and China is years ahead in batteries and associated supply chains. The European Union reached a deal to ban sales of combustion-engine cars from 2035; so the continent’s manufacturers are stuck between a rock and a hard place.

    China will continue to lead the EV space because it is the world’s major manufacturer of batteries since they are one of the core components of electric automobiles that makes them self-sufficient, as the world’s largest vehicle market, and plays a special role globally. This is an indication that China is ready to remain ahead of its peers as far as expanding its EV production, and thus accelerate the time to reach electric vehicle cost parity.

    From the aspects of Chinese economic development, national security, and environmental protection, it is certain that China’s electric vehicle market will be a core sector of the automotive industry and this is why when you are buying your next Electric vehicle you will consider a Chinese model.

    The writer, Ms. Eve Maina, is the Managing Director of Go Electric Ltd an Electric Vehicle (EV) dealer that provides e-mobility solutions to the African market.

  • Psychosocial Support For Victims launched in Nairobi

    Psychosocial Support For Victims launched in Nairobi

    By John Kariuki

    There is Relief for victims in the Criminal Justice System as International Jurists Mission and stakeholders launched psychosocial support for victims and witnesses.

    Benson shamala the executive director of IJM observes:

    “It is also worth noting that victims and survivors of crime are better placed to pursue justice if their mental well being is taken care of.

    From our casework experience of over 20 years, we can attest that survivors and witnesses who get counselled and are handled sensitively in the system are in a better position to be great witnesses in court and provide the correct testimony, thus aiding the court to come to just conclusions and judgments.

    Victims of crime see justice as an integral part of their healing process, yet their expectations of justice are often not met.

    Victims and witnesses are often confronted with many hurdles along the way as they seek justice for example:

    • The complexities of the legal process,

    • Trauma that they suffered as a result of the crime.

    • Delay in concluding the case.

    • Threat to their life and those of their loved ones

    • Economic challenge which makes it difficult to attend court regularly.

    • Psychological stress of having unfinished business

    All these factors makes it hard for them to want to pursue justice and especially so if their experience while they follow their case isn’t friendly and one that retraumatize them.

    The call we are making today is for sensitive handling of survivors and witnesses in our criminal justice system. By the criminal justice system we mean from the moment the violation happens, to investigations and the court process.

    Victims and witnesses need a a criminal justice system that is cognizant of the trauma that they have suffered.”

  • We must Rise Against Sodomic Spirit, Bishop Kieru Pleads

    We must Rise Against Sodomic Spirit, Bishop Kieru Pleads

    By John Kariuki Waithaka.

    Kenya Assemblies of God Nyahururu District Bishop Simon Kieru has called upon Kenyans to join efforts in rebuking and Condemning the spirit of sodomy, homosexuality and lesbianism.

    His sentiments comes at a time when Kenyans are yet to come to terms with how the highest court on the land, the supreme court, okeyed the association of LGBTQ.

    Bishop Kieru believes that such is a devilic spirit which is on the prowl, seeking the ruin of souls.

    “Kenya is a Godly Nation. It’s God who has enabled us to be where we are today. We therefore must stand in solidarity and in unison, with an amplified voice stand to oppose the shocking and rampant cases of homosexuality and lesbianism.” He noted.

    On Monday a 30-year-old man who has been masquerading as a pastor was arraigned in Thika law court for allegedly sodomizing a 21-year-old man on different dates between 2020 and 2021.

    Simon Nderitu Mwangi was charged with two sexual offences of rape and sexually harassing the complainant on the different dates at Ndarasha village in Juja constituency.

    Appearing before Chief Magistrate Stella Atambo, Nderitu denied the first count but pleaded guilty to the second one.

    Nderitu shocked the court when he narrated to the magistrate how he is addicted to homosexuality and that he is not attracted to the female gender.

  • How to Start and Sustain a Car-Hire Business–Expert

    How to Start and Sustain a Car-Hire Business–Expert

    By Maurice Momanyi.

    Many Kenyans wish to engage in different types of income generating activities but do not know where to start and how to maintain them.

    For instance, for those who desire to establish and sustain a thriving car hire business, here is free advice from an expert.

    According to Christopher Isura, founder and Managing Director of Isura Car Hire and Tours Ltd, the secret to survival in this kind of business can be summarized in four important approaches.

    He cites a lean staff, discipline, good working relationship with competitors and rigorous vetting of clients to avoid cases of fraud.

    The aforementioned four factors, according to Isura, are intertwined, explaining that it is easier to influence discipline in small staff than in a larger one, while building good working relations with rival service providers is capable of earning more customers by referrals in cases where competitors don’t have the required vehicles.

    Isura further confides that fraud thrives through a larger human network, hence discouraging it by a lean team.

    The youthful businessman controls about forty vehicles some surrendered by business partners, whoare largely close relatives, to enhance trust.

    “We work with competitors in different parts of the country where we regularly get referrals from them when they are approached by clients who can’t find preferred vehicles,” says Chris.

    He informed this writer that he developed enthusiasm for cars from an early age, intimating that hestarted as a broker of the car hire service back in 2013 after quitting a journalism career before his passion drove him to register his own company using his little savings supported by family members and bank loans.

    Isura Car Hire offers self-driven cars of different makes as well as chauffeur-driven luxury vehicles like Toyota TX, Toyota V8, Toyota Prado, Mazda and Mercedes Benz among others.

    Self-driven hire cars cost ranges from Ksh15,000 to Ksh30,000 depending on the model and distancecovered, among other factors.

    “We prefer to use our few chauffeurs on rotational basis because of the experience they have in defensive driving,” said Isura.

    They also offer VIP drives from entry airports to different offices 24 hours a day. Special occasions like weddings, anniversaries and graduation ceremonies are also covered.

    He says vetting of walk-in clients is one of the most challenging experiences in the business, saying they were forced to be going to clients’ residences to guard off incidents of disappearance, which can deal a big blow to such a business.

    “We hope to diversify to car sales and are looking forward to becoming a one-stop shop for all car hire, tours and sales services in the country,” says Isura.

    Contacted for comment on this kind of business, Transport and Infrastructure Cabinet Secretary Kipchumba Murkomen affirms that the car hire sub-sector is critical in complementing public transport and enhancing trust and efficiency between operators and their clients. “Yes we can’t ignore this very important division of public transport because it helps build trust and enhance customer safety,” said Murkomen on phone.

  • Tala moneymarch2023 report: appetite for digital credit surges as Inflation pushes Kenyans to borrow more

    Tala moneymarch2023 report: appetite for digital credit surges as Inflation pushes Kenyans to borrow more

    Compared to 2022, incidences of those using more than three digital lenders have increased, while 4 in every 10 consumers (42%) remain loyal to one digital lender.

    Nairobi, Kenya, Monday 13th March 2023- Half of the Kenyan consumers are borrowing more compared to six months ago with incidences of those using more than three digital lenders on the rise. According to Tala’s 2023 MoneyMarch “State of the Economy”

    The report is attributed to fewer full-time jobs and declined alternative sources of income forcing consumers to borrow in order to pay for living expenses in the face of growing inflation.

    Borrowing for business purposes remained the top reason for taking a loan as 67% of respondents indicated that they borrowed to meet business expenses and add the stock. Compared to 2022, this was a slight drop from last year’s 78% as Kenyans shift focus to meeting basic needs such as school fees, utility bills, medical care, rent, and public transport amid the soaring cost of living.

    “Compared to 2022, Kenyans are cutting down on spending and saving more in a bid to curb the impact of increasing inflation in their daily lives. More generally, we are also seeing Kenyans borrowing more, and it is fascinating to note that over the last six months, consumers have channeled more of their loans to their savings such as ‘Chama’ contributions.

    It appears that customers are borrowing from digital lenders to help keep pace with their group contributions, underlying the need for access to affordable credit for continued financial independence during challenging economic times ” said Teddy Kahiro, Senior User Research manager at Tala while presenting findings to media and industry stakeholders.

    While speaking on spending habits, Teddy said that the report presented a unique perspective on what respondents were spending. They revealed that they spent 25% of their earnings in savings with chamas, saccos, or fixed deposit accounts, 22% on personal expenses, 23% on utility bills, and a distant 15% on emergencies.

    On financial literacy, over half of the surveyed customers who said that they were experiencing increased expenditures over the last six months, want more guidance on creating a budget to manage expenses. “This is a contrast from last year where consumers wanted guidance on how to start/grow businesses and save effectively” noted Mr. Kahiro.

    “The hypothesis here could be that people are holding onto money rather than investing it in a new business amidst the ongoing economic crunch” concluded Teddy.

    “Empowering our customers with education on how to manage their finances has always been a key objective for Tala. We believe financial resilience among the underserved and underbanked Kenyan majority can be enormously boosted by helping them understand how money works in everyday life,” said Munyi Nthigah Tala’s General.

    Manager during the media event, which also marked the start of the company’s annual financial literacy campaign christened Tala MoneyMarch.

    “Financial literacy is the only way to help our customers build pathways to a more sustainable and secure financial future,” he emphasized.

  • Unleash the Power of Redmi 12C – A Great Entry Level Device at an Unbeatable  Value!

    Unleash the Power of Redmi 12C – A Great Entry Level Device at an Unbeatable Value!

    50MP AI dual camera, Immersive 6.71” HD+ display, Fingerprint, 5000mAh long lasting battery, and a Powerful MediaTek Helio G85 from Ksh. 13,999 Entry level device with incredible affordability and outstanding performance.

     Xiaomi today announced the official launch of Redmi 12C, a great entry level device with 6.71″ HD+ display, 50MP AI dual camera (rear) + 5MP (front camera), 5000mAh (typ) high-capacity battery, 10W fast charging and MediaTek Helio G85, Octa-core processor, up to 2.0GHz.

     

    With the launch of Redmi 12C, Xiaomi raises the bar for the segment by making exceptional performance available at a highly affordable price, making it a top-of-the-line contender in its bracket.

     

    Ready for Every Photograph: Any Scenario, Any Time

    Equipped with a 50MP main camera, Redmi 12C offers greater details and greater light capturing capabilities, allowing you to record memorable moments in any light conditions so you never miss a thing. From taking backlit shots to capturing night scenes, the powerful HDR and Night Mode capabilities allow for clear shots even in challenging light conditions.

     

    New Level of Design: More Colorful, More Distinctive

    Redmi 12C is designed to stand out from the competition with its immersive display and unique design. Featuring a large 6.71″ HD+ display, Redmi 12C brings your favorite movies and games to life. The vibrant screen also enables a better viewing experience for your daily navigation and reading with its sleek 20.6:9 aspect ratio. In addition, the reading mode feature of the device ensures the protection of your eyes, and is especially helpful when bingeing on content. Redmi 12C comes in a unibody build, with flat edge and a curved back, the stylish striped and ribbed design makes the device more recognizable and slip-resistant while improving its overall aesthetics and grip feel. All you have to do is choose a color that suits your lifestyle: Graphic Gray, Ocean Blue, or Mint Green

     

    Unlock Your Device Effortlessly, Quickly, and Securely

    The Redmi 12C boasts a rear fingerprint sensor that seamlessly integrates into its sleek design, providing quick, hassle-free, and secure access to your device, which ensures the confidentiality of your sensitive data and privacy is maintained. This feature is highly valued by our customers as it offers both convenience and security, setting it apart from its competitors, such as Samsung A04, which does not come with a fingerprint sensor, despite its high price.

     

    Enjoy your phone for longer, On a Single Charge

    With a large 5000mAh battery, Redmi12C allows you to enjoy your phone for longer. On a single charge, you can enjoy 20hours of video playback, or 13 hours of non-stop gaming. And when you’re not using it, it has a superb standby time of 21 days. Redmi 12C easily powers through an entire day, so you no longer need to worry about bringing a charger with you wherever you go.

     

    Powerful Performance: Much Stronger, Much Smoother

    Powered by MediaTek Helio G85 processor, Redmi 12C delivers best-in-class performance and smooth experience in gaming, imaging, or everyday use.

     

    With up to 6+5GB extended RAM and 1TB storage extension, Redmi 12C offers quick and responsive feedback when opening apps, as well as satisfying your needs to store more of your favourite videos, photos, music and games.

     

    Keeping things going, the large 5,000mAh battery of Redmi 12C easily provides enough power to last you a full day of calling, gaming and video playback.

     

    Redmi 12C will be available in Kenya from the 13th March 2023 in all Xiaomi Stores, Retail partner stores & Jumia. It will come in three variants;

     

    3GB+32GB at Kshs 13,999

    3GB + 64GB at Kshs 14,999

    4GB + 128GB at Kshs 17,299

     

     

  • STANBIC HOLDINGS PLC REPORTS KES 9.1 BILLION PROFIT IN 2022 AND A 55% DIVIDEND PAYOUT

    STANBIC HOLDINGS PLC REPORTS KES 9.1 BILLION PROFIT IN 2022 AND A 55% DIVIDEND PAYOUT

    • Profitability grew by 26% bolstered by double digit growth in revenue and customer loans, increased operational efficiencies and judicious risk management.
    • Newly appointed Chief Executive signals a new business growth strategy phase.

    Stanbic Holdings Plc has announced a KES 9.1 billion after-tax profit for its financial year ended 31 December 2022.

    The listed financial services provider, a member of Standard Bank – the leading African Financial Services Group – attributed the 26% after-tax profit growth to strong revenue and balance sheet growth.

    Stanbic Kenya and South Sudan’s Chief Executive, Mr. Joshua Oigara said the firm’s strategic plan formulated and adopted three years ago continues to facilitate growth and organizational resilience. He noted that the strategic plan founded on digital innovations for service delivery, enhanced consumer experience and increased operating efficiencies had translated to an accelerated balance sheet growth.

    “Despite the uncertain and challenging operating environment last year, the business delivered strong results, thanks to focused execution across our strategic plan. The plan is anchored on catalytic growth pillars such as customer service excellence and technology integration to boost operating efficiencies. We can see the payoff whilst providing a good launchpad for the next three-year strategy to be unveiled later this year,” Oigara said.

    Buoyed by a diversified portfolio of corporate, commercial, investment and retail banking financial solutions, the lender posted a 28% revenue growth to close at KES 32 billion in the period under review. Customer deposits increased by 12% to stand at KES 272 billion, while loan and advances to customers were up 27% to close at KES 236 billion, highlighting the Bank’s commitment to supporting economic growth and development.

    Shareholders at the Nairobi Securities Exchange (NSE) listed firm will, subject to approval at the next Annual General Meeting, enjoy KES 4.98 billion in dividends, being 55% of the 2022 profit after tax and representing a 40% increase in total dividend payment from previous year’s KES 3.56 billion.

    Stanbic Holdings Chief Financial and Value Officer Mr. Dennis Musau noted that the significant progress on its strategic plan and requisite measures made by the Bank over time have cumulatively contributed to its strong growth momentum.

    “Over time, we have made investments to drive faster customer acquisition, efficient and convenient service and internal operational efficiency. The outcome of these efforts is evident in our Cost to Income ratio which reduced from 50.9% in 2021 to 46.7% in 2022, boosting our Return on Equity to 15.3%, up from 13.3% in 2021.” said Mr. Musau.

    “Along the same grain of customer focused investments, as the East African region continues to thrive as one of the fastest growing regions on the continent, Stanbic launched borderless banking in 2022 which enables customers to transact seamlessly and real-time across Kenya, Uganda, Tanzania and South Sudan. To date, this platform has facilitated more than USD 800M worth of transactions across the countries and contributed non-funded revenue to the bank” Musau added.

    Stanbic has been intentional in its focus on diversity and inclusion, with a specific focus on women. Through the Dare to Aspire Dare to Achieve (DADA) platform, the Bank has committed KES 20 billion (approximately USD 185 million) to finance women. Since its launch 3 years ago, the platform has attracted more than 53,000 new to bank ‘Dadas’ and disbursed loans amounting to KES 7.7B.

    Stanbic has consistently funded Micro, Small and Medium Enterprises (MSMEs). As at end of December 2022, the Bank issued a cumulative of KES 33 billion to these entities under its Business and Commercial Banking business segment. In addition, through the Stanbic Foundation and strategic partners, the Bank disbursed KES 76 million in grants and catalytic funding to over 400 MSMEs in the country.

    The Bank continues to change and transform the community through their Social, Economic and Environment (SEE) initiatives aligned to the United Nation Sustainable Development Goals (UNSDGs). Stanbic Bank’s SEE initiatives are championed by the Stanbic Kenya Foundation and are focused on economic empowerment, financial inclusion, promotion of education and health. The Foundation’s Accelerate Program has been instrumental in positioning Kenyan businesses for success by addressing digital skills gaps, boosting entrepreneurship and enhancing employability of beneficiaries through digital literacy and upskilling, career development, and access to grant funding and job markets. The milestones achieved have been as a result of working together with partners in the development, public and private sectors.

    As a trusted financial institution, the Bank’s contribution has been recognized through various awards such as Kenya’s Best Investment Bank, Best Trade Finance Bank, KEPSA Gender Mainstreaming Award (The Women on Boards Network, 2022), Financial Leadership Award Winner (Women Business Awards 2022) and Overall winner of the Financial Reporting Awards (FIRE Awards, 2022).

    In December 2022, Stanbic Board of Directors appointed Mr. Joshua Oigara as Chief Executive of Stanbic Bank Kenya, and South Sudan, following the retirement of Mr. Charles Mudiwa, after two decades of illustrious service to the Standard Bank Group. Mr. Oigara’s leadership will be instrumental in driving growth and development of the Bank, as he steers its growth momentum, investment in digital transformation, and contribution to the prosperity of the communities it serves.

  • LG Empowers Social Groups in Nairobi And Makueni To Promote Growth And Self-Reliance Of Local Communities

    LG Empowers Social Groups in Nairobi And Makueni To Promote Growth And Self-Reliance Of Local Communities

    ·         The empowerment is courtesy of the 3rd edition of LGs Ambassador Challenge which will see three finalists walk away with Ksh.1,000,000 million that will go towards solving social issues in the communities in which they reside.

    ·         This year’s challenge was part of LG’s overarching vision that sees various aspects of society working together to achieve a better life for all

    Three social groups based in Nairobi, and Makueni counties have emerged as the 2023 winners of the LG Electronics Ambassador Challenge that seeks to promote the growth and self-reliance of local communities.

    The three, Vonde Welfare, Kenya Women and Children Centre, and Little Voice Deep Within, emerged winners beating 52 applicants from across the country analyzed based on necessity, effectiveness, efficiency, concreteness and Manageability. This follows a rigorous application and selection process that kicked off in January this year in partnership with Korea Food For the Hungry International (KFHI)

    The three will each receive Ksh.1,000,000 million which is the main prize that will go towards solving social issues in the communities in which they reside.

    Giving his remarks, LG Electronics EA Managing Director, Lee Dong Won said, “Communities thrive when their members are empowered to take control of their growth and development. The success of the LG Ambassador’s challenge in promoting the growth and self-reliance of local communities is a testament to the power of innovation and collaboration. Congratulations to the winners for their inspiring solutions and to all participants for their dedication to building stronger, more resilient communities. It is my plea to all of us, that we continue to support and invest in initiatives that empower local communities to take charge of their destiny.”

    Of the three groups, Vonde Welfare seeks to offer solutions to water challenges facing Makueni residents from Vonde area in Mbooni Sub-County. Most of the affected residents are single mothers, school-going children and women whose husbands work far away from the area in such of greener pastures. The area is on top of a hill hence the water table is very low causing residents to walk kilometres away in such of water.

    “Through this capital, we intend to mitigate the challenge of scarcity of water in the area during dry seasons to at least 50-80 families, reduce the workload of fetching water from a long distance thus creating more time for attending to family chores and looking for support to feed families by mothers who are most affected in more than 60 families and finally increase the concentration of children by more than 200 in schools which has been a major challenge in the area since most of them spend time looking for water. We are elated to be a finalist and we look forward to making a difference”. Said James Kalulu Muthoka, Vonde Welfare representative.

    On the other hand, the Kenya Women and Children Centre based in Nairobi aim to use the funds to assist in reducing the raising cases of Gender-based Violence in the country by educating the public on how to respond and prevent the illness. “This will be done through capacity building, Economic empowerment, training, clinical, Psychosocial shelter and legal assistance in our facility in what we have dubbed as a one-stop centre”. Said Judy Nzioki, Kenya Women and Children Centre representative.

    As part of their solutions agenda, the social group seeks to leverage the capital to safeguard and protect the rights and well-being of communities through GBV prevention to 400,000 direct beneficiaries, reduce the risk of GBV reoccurrence by 40 per cent through economic empowerment and safe shelter, and finally improve access to GBV services (medical, psychosocial care and legal access) by at least 20 per cent of the number of GBV survivors.

    The third group Little Voice Deep Within based in Kariobangi South, Nairobi seeks to empower vulnerable children through environmentally friendly interventions. Currently, the group manages a small community library where vulnerable children from the vicinity with neither access to reading materials nor a place to be able to read are welcomed every Saturday to both borrow a book as well as read.

    In his submission, the group’s representative, Erick Wiclife Odhiambo said, “Our dream is to expand our community library model across other informal settlement and resource-limited contexts. We seek not only to nurture and revive a reading culture but also to create a child-friendly safe space within which the little voice deep within will be awakened, that little voice deep within that always tells you to do good. We also seek to nurture the nascent talents of targeted children by empowering them with environmentally friendly skills in arts and creativity train thus contributing not only to their integral development but an improved awareness of caring for mother earth. Some of the skills include knitting, weaving, perspective drawing, form drawing and handcrafting”.

    The group intends to use part of the funds to set up a digital library and accommodate more students, especially during the holiday season.

    The three groups are expected to execute their ideas in three months once they are awarded. To ensure due diligence, a follow-up will be made by the Programme manager and key partner of the challenge, KFHI.

    To bring the solutions to life, KFHI will plan, support, and implement customized project progress and monitoring according to the location of the project screening, project community selection, and the characteristics of the selected teams (including organization, operation, and capabilities) through the competition.