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KCB Group Plc Board has elected FCS Dr. Joseph Kinyua, EGH, as the new Chairman of the Group Board with effect from May 26, 2023.

Dr. Kinyua, the immediate former Head of Public Service and Secretary to the Cabinet was appointed to the Board of KCB Group in March 2023. He takes over as Group Chairman from Mr. Andrew Wambari Kairu following Andrew’s retirement having served as Group Chairman for a term of 5 years in line with the Board Charter.

Dr. Kinyua has enjoyed an illustrious career spanning over four decades in public service and has a wealth of experience in public administration, economic planning, and policy direction. He is credited with effectively holding a pivotal role in implementing key government initiatives and reforms, including the liberalization of the banking sector, the foreign exchange market and the trade and capital accounts of the balance of payments, among other initiatives.

Prior to his appointment as the Head of Public Services in 2013, he had served in various senior positions in the government, including as Permanent Secretary to the National Treasury.

The appointment of Dr. Kinyua heralds a new dawn for KCB Group’s Corporate Governance journey as he brings onboard deep financial services expertise and extensive public service management experience.

Dr. Kinyua thanked the Group Board for the appointment saying: “I am grateful for the confidence shown by the members in electing me to serve as Chairman and look forward to working together to propel KCB Group to even greater heights in the Eastern and Central African Region as the bank of choice in providing financial services to our people”

Mr. Wambari said: “It has been an honour to serve the KCB Group. I leave behind a strong, diverse, and competent board that will continue to drive the business to achieve and sustain its strategic objectives and a seamless transition to ensure continuity. I would like to thank all our shareholders, my fellow board colleagues, our employees, regulators, and all partners for the transformative collaboration we have had that has led to the various successes our Group has achieved over the last five years.”

“The election of Dr. Kinyua is a testament to KCB Group’s solid governance practices and adherence to the Board Charter.”

Leading firms in East Africa are set to be honored in a major International SMEs and Mid-sized institutions international award dubbed Pacesetters Awards which is organized by Jubilant Stewards of Africa. This year’s regional awards ceremony shall be held at Weston Hotel in Nairobi host the Kenya Awards ceremony on 30^th June 2023 at Weston Hotel in Nairobi after last year’s awards were held in Serena Hotel Kampala Uganda.  The awards bring together top organizations and entrepreneurs from 10 countries in the Eastern African region.  Pacesetters Award (PSA) is an annual Industry leadership Recognition program organized by Jubilant Stewards of Africa (JSA), a Non-Governmental Organization, to celebrate key industry leaders for their innovation, quality products, and service delivery, job creation, exemplary leadership, growing the economy, and transforming the society. These awards are based on the economic and social impact rather than the balance sheet. Jubilant Stewards of Africa is dedicated to the improvement of living standards, social ethics, dignity, and empowerment of communities. As part of its Corporate Social Investment (CSI), JSA empowers and supports firms and professionals in their quest to better the society and impact lives.

The winners in various categories are carefully selected through a competitive and thorough process involving a public vote and a panel of judges.

This year’s survey started on 2^nd April 2022 and closed on 30^th April 2023. Various institutions showed interest to partner with organizers to ensure the success of this year’s Awards in various countries. In the previous year some of the institutions that partnered with the Jubilant Stewards of Africa included Telecommunication giant Safaricom Plc, Regional Leasing firm Vehicle and Equipment Leasing Ltd (VAELL), United SMES Association of Kenya, Service Cops Ltd Uganda, Quipbank Trust Limited and Nation Media Group.

Jared Oundo, Executive Director of Jubilant Stewards of Africa, said that “Pacesetters Awards considers a range of quantitative and qualitative aspects in order to determine and honor the winners. A novel survey model was initiated in 2020 as per the hyperinflationary environment. The model has since been tested and it demonstrated its functionality, elasticity and robustness. Furthermore, models in various industries such as the financial sector were remodeled in order to enhance their significance to the current environment, enhance quality and increase the objectivity of results.”

A good number of the nominees in the 2023 have been conferred with other awards including the Top KPMG 100 Survey and other international awards. Notable firms that have featured in the Pacesetters Awards East Africa Kenyan Chapter include; Telecommunication giant Safaricom, Solar and Electric vehicle Dealer, Go Electric Ltd, Security Firm – Jeff Hamilton, drink manufacturer Kevian Kenya LTD Afia, Regional Leasing Giant Vehicle and Equipment Leasing Ltd (VAELL),  Service Cops Uganda, Uganda Chefs Union, Digital lender Zenka Digital Ltd, Tala, Ena Coach Bus, City Walk, Tinga rental platform, AVT Insurance Agency, online shopping platform Jiji Kenya, Mwananchi Credit, Clothing Line Amore Kenya, Property Developer Myspace Properties Ltd, EM Prime Land Ltd ,  Certified Homes Ltd and Digital Driving School.

Others include; Mattress maker SuperFoam, EVChaja, Staff Recruitment firm – Brighter Monday, Dakawou Transport Limited, Sarma Enterprises Ltd, Electrical vehicle charging stations network EvChaja, Village HopeCore International, and Nation Media Group Plc.

According to the sources privy to the 2023 East African chapter nominees list, the new entrants include; Westlands Laser Eye Hospital, Rentokil Initial Pest Control firm, Kifaru Properties, Ninia Honey, Digital Advertising firm Simpet Kenya, Sun King lanterns and home Systems Dealer, Madaraka Homes, Eden Bridge Capital Limited, Strathmore University Foundation, Mahiga Homes Fanaka Real Estate, Jambo Freight Limited from Tanzania, Spik and Span Limited Tanzania, Inter- Consult Ltd Tanzania, Brett and Baileys (T) Limited, Raphael Logistics Limited Tanzania among others.

The organizers said that they will be sharing the full shortlist after various nominees have been contacted and standardization is done in a press conference to be held in Nairobi.

According to Mr. Oundo, this year they intend to host the Awards in more African countries, starting with Kenya and then proceed to other countries such as Rwanda later in the year. Having hosted a successful Awards ceremony in Uganda last year. The ceremony shall include a gala dinner in which various high-profile guests and government officials are expected to be present. Jubilant Stewards of Africa shall announce and grant the winners their respective accolades. The guest of honour will be the honourable president of the republic of   Kenya William Ruto. There will be display booths at the event and the slots are limited.

CPA Boniface Aluoch, VAELL Leasing Uganda Country Manager said that they were truly grateful to be recognized as the pacesetters in the leasing industry and they wouldn’t have received the award if it was not for their esteemed customer’s support. They also mentioned that their staffs professionalism and dedication also contributed to them winning the award.

Speaking after receiving the news of being nominated as a Pacesetter in E-commerce, Grace Gikonyo, Head of Public Relations, Jiji Uganda said that the world is changing so is the life of many people and this has brought in the E-commerce way which is now the future of shopping. She said that being awarded for the second time is a huge recognition for them and went ahead and said that they have adapted to dedication, expertise and sheer hard hence improved the satisfaction for both sellers and buyers online.

Super Foam Limited’s Head of Marketing Sanskrati Shetty said they were glad to be recognized as the pacesetters in foam manufacturing and supplying. She went ahead and thanked her entire workforce for ensuring their efforts were recognized as a brand and as an organization. She concluded by thanking Jubilant Steward of Africa by recognizing them as key industry players.

Dr. Mary Boniface, CEO of Jubilant Stewards of Africa in charge of Kenya said that one of the major tasks of their organization is to make society better for everyone by encouraging companies to continue doing their best so that they can continue making the country a better place. She was pleased about last year’s turn up and said she was looking forward to a bigger and better event this year.

Commenting on the Pacesetters Awards East African Chapter, Ms. Dahir Aryan, Programs Executive at United SMES Association said, “We are pleased to partner with Pacesetters Awards organizers and we look forward to honor top entrepreneurs and institutions-, in the East African market for their efforts to better the economy and impacting lives. This will encourage organizations and individuals to go beyond the call of duty in their service to humanity.”

·       This year, three social groups from Nairobi, Kiambu and Makueni beat 52 applicants from various regions across the country to emerge winners, they each walked away with Kes. 1 million.

·      The challenge is a prestigious initiative aimed at promoting the growth and self-reliance of local communities.

LG Electronics has today handed over complete projects to three social groups from Nairobi, Kiambu and Makueni counties seeking to solve their community’s most pressing needs.

The three, Vonde Welfare, Kenya Women and Children Centre, and Little Voice Deep Within emerged as the winners of the highly anticipated LG Electronics Ambassador Challenge for the year 2023, each walking away with Kes 1 million.

The challenge, a prestigious initiative aimed at promoting the growth and self-reliance of local communities attracted 52 applicants from various regions across the country.

Giving his remarks during the handover ceremony, LG Electronics EA Managing Director Dong Won Lee said, through this initiative, LG aims to empower social groups to create sustainable change and foster self-reliance within their respective communities.

“We are thrilled to witness the fruition of the LG Electronics Ambassador Challenge as we hand over the completed projects to Vonde Welfare, Kenya Women and Children Centre, and Little Voice Deep Within. LG believes in the power of technology to transform lives and communities for the better. Through this initiative, we aim to empower these organizations to create sustainable change and foster self-reliance within their respective communities”.

Following the handover, Vonde Welfare received eighty, 5,000-litre water tanks that will offer a quick solution to water challenges facing Makueni residents from the Vonde area in Mbooni Sub-County. Currently, the area is characterized by inadequate rainfalls, hills and a very hot environment. The residents use the seasonal streams down the hills which are 5 kilometers from the village. When they find the water, they carry it on their backs since there are no donkeys or camels in the area.

“We extend our heartfelt thanks to LG Electronics and their commitment to making a tangible difference in our community. These tanks will serve as a lifeline for the residents of Vonde who have been grappling with water scarcity due to inadequate rainfall and a challenging environment. With these tanks, we can offer a quick and convenient solution to the water challenges our community faces. No longer will our villagers have to travel long distances and carry water on their backs. This contribution will significantly improve the quality of life for our residents and bring much-needed relief”. Said James Kalulu Muthoka, Vonde Welfare representative.

The second group, Kenya Women and Children Centre which focuses on elevating the rising cases of Gender-based Violence in the country by educating the public on how to respond and prevent the illness received refrigerators, microwaves, and televisions for use at their already-built facility.

In her keynote speech, Judy Nzioki, Kenya Women and Children Centre representative said they’ll use the well well-equipped facility to provide comprehensive training programs that empower individuals with the knowledge and skills to combat Gender-based Violence effectively.

“Receive our sincere gratitude for your commitment to making a positive impact on the lives of women and children in Kenya. As an organization dedicated to addressing the alarming issue of Gender-based Violence in our country, these resources will significantly enhance our efforts to educate the public on how to respond to and prevent this adversity”. Said Nzioki

Similarly, the Little Voice Deep within social group expressed their gratitude for being part of the finalist, noting that they will use the funds to set up a digital library and accommodate more students, especially during the holiday. Currently, the group has set up their library in the chairman’s house where children meet weekly for studying, dance and other artworks. The beneficiaries are children from Kariobangi slums who either are in school or have graduated from high school and would wish to advance their artistic levels. The group which plays host to over 300 children monthly received curriculum books, revision books, story books, and laptops to help enhance knowledge access.

Speaking during the handover Ceremony, Little Voice Deep Within representative Erick Wiclife Odhiambo said, with this support, the group will provide a dedicated space for learning and artistic advancement, empowering the children from our community to explore their talents and pursue their educational aspirations

“We are incredibly grateful to LG Electronics for selecting Little Voice Deep Within as a finalist and providing us with the funds to set up a digital library. This support will enable us to expand our reach and accommodate more students, particularly during the holidays. With the establishment of a digital library, we can offer an enhanced learning experience and empower these talented young individuals to advance their artistic abilities” said Erick Wiclife Odhiambo.

Over the last 3 years, LG Electronics in partnership with Korea Food for the Hungry International (KFHI) have been instrumental in ensuring the success of the LG Electronics Ambassador Challenge. Their expertise and support have played a crucial role in identifying deserving organizations that align with the goals and values of LG Electronics.

Last year, three groups from Nairobi, Kiambu, and Kajiado counties won the challenge.

MFS Africa, a leading pan-African fintech company, is thrilled to announce that it has been crowned Fintech of the Year at a ceremony held last night, 24 May, in Sharm El Sheikh in Egypt. This prestigious accolade recognises the company’s outstanding contributions to the fintech industry in Africa and beyond through payment solutions that make borders matter less for millions of Africans.

The Fintech of the Year award is a testament to MFS Africa’s dedication to transforming the financial landscape in Africa through its network of networks that connects mobile money providers, banks, fintech, money transfer operators and enterprises, enabling seamless and interoperable transactions that empower individuals and businesses. This recognition reaffirms MFS Africa’s position as a trailblazer in the fintech sector, driving impactful financial inclusion on the continent.

Dare Okoudjou, Founder and CEO of MFS Africa, expressed his gratitude for the recognition, stating, “We are deeply honoured to receive the Fintech of the Year award. This prestigious accolade is a testament to the hard work and dedication of the entire MFS Africa team. We are committed to building payments infrastructure that will last a hundred years and change the ways that Africans transact with each other and the global economy. On behalf of the team, I would like to thank the African Banker Awards for recognising our contributions to the African financial sector.”

The African Banker Awards take place during the annual meetings of the African Development Bank and recognises transformative leadership in the African financial services sector.

Mwananchi Credit, a leading microfinance company specializing in logbook loans, has announced the launch of its #DriveSafe campaign, aimed at addressing the alarming increase in traffic accidents on Kenyan roads. This initiative underscores Mwananchi Credit’s commitment to promoting road safety and upholding its core values of care and diligence.

According to recent statistics by NTSA, traffic accidents have become a significant concern in Kenya, (22,000 people were involved in accidents in 2022 ). This has led to devastating consequences for individuals, families, and the overall society. Mwananchi Credit acknowledges the urgent need for immediate action to mitigate this crisis and protect the lives of Kenyan citizens.

Dennis Mombo, CEO of Mwananchi Credit, expressed his thoughts on the campaign, stating, “At Mwananchi Credit, we have always believed in caring for our customers and the communities we serve. The #DriveSafe campaign is a testament to our unwavering commitment to their well-being. We aim to create awareness about road safety and educate individuals on responsible driving practices, ultimately making our roads safer for everyone.”

The #RoadSafety campaign is designed to engage the public through various educational initiatives, such as road safety workshops, awareness campaigns, and community outreach programs.

Mwananchi Credit recognizes the importance of collaborating with like-minded partners to achieve the shared goal of improving road safety in Kenya.Gitonga Muriithi, General Manager of Mwananchi Credit, emphasized the significance of partnerships in this endeavor, stating, “We believe that collective efforts can have a profound impact on road safety. We are actively seeking collaborations with other organizations, government bodies, and stakeholders who share our vision to create safer roads. Together, we can drive positive change and save lives.”

Mwananchi Credit encourages individuals, organizations, and concerned citizens to join the #DriveSafe campaign and actively participate in promoting road safety. By leveraging its extensive network and resources, Mwananchi Credit aims to make a lasting impact on the road accident rates in Kenya.

The African Economic Research Consortium’s (AERC) plenary session of the 58^th Biannual Research Workshop was held yesterday on a virtual platform, with calls to facilitate continent-wide unity on trade to accelerate the recovery agenda.

Speaking during the conference, Prof. Benedict Okey Oramah, President and Chairman of the Board of Directors, The African Export-Import Bank, noted that even after regional integration agreements and treaties, the African regional trade has not grown substantially as had been expected. Currently, intra-Africa trade stands at 15.4%, and Africa’s share of global Gross Domestic Product (GDP) trade is estimated at 2.6%, despite accounting for 16.3% of the world’s population.

“It is essential for countries to reduce today’s debt burden promptly through economic reform, lowering the cost of financing, and debt restructuring on a case-by-case basis. The international community should also step-up efforts to improve debt restructuring processes, including the G20 Common Framework, to ensure that debt relief is delivered in a timely and efficient manner where it is needed”, he said.

The plenary session also noted some notable progresses in some sub-regions where integration in trade, finance and labor mobility is improving fast and acknowledged that harnessing the full benefits of Africa Continental Free Trade Area (AfCFTA) agreements and strengthening the regional integration and regional trade prospects are new avenues for exploiting the limitless opportunities.

Referencing the need to leverage on education to produce excellent research as a future goal for more focused impact, the AERC Executive Director Prof. Théophile Azomahou, encouraged the need to ensure that research is selective and conducted within respective thematic areas.

“Whilst education is inclusive, research should be trained and taught in a manner that encourages our young and upcoming researchers to be more deliberate in their methods by narrowing down topics to be as thematic as possible. This will help build knowledge in different areas of focus for policy makers and help shape solutions to our everyday problems,” he said.

Some of the notable steps that were discussed as possible solutions for mitigating these multiple shocks were investing in the transformation of African economies to reduce the unhealthy and credit-rating negative correlation between price and commodity price cycles, investing in the development of capital markets , closing infrastructure deficit especially in the power sector  to close the chronic electricity deficit which has been one of the greatest constraints to productivity growth and industrial output as well as increasing relevance and impact of AERC networks in the policy and development arenas, among others.

Other discussions touched on the fact that close to 60% of Africa’s GDP growth is explained by temporal, cyclical factors, but with large variance across countries. The recovery from the shock that is taking shape now runs the risk of being uneven, widening the differences within Africa itself and between Africa, and the rest of the world.

Additionally, in an economic sense, the productivity shocks on agriculture, food security and land productivity due to climate change cannot be taken lightly. There is evidence that points to increasing poverty and inequality induced by climate change and this is beyond the argument of marginal areas. The commitments by international development partners to finance the climate change initiatives are not coming forth as fast as expected to provide a stopgap to resource challenges in Africa. There are areas that can be harnessed with domestic resources, like creating shallow water wells for pastoralists that would minimize conflicts in those marginal areas.

The plenary session featured four presentations by eminent economists including: The Impact of the War in Ukraine on the Recovery and Resilience of African Economies by Dr. Hanan Morsy, Deputy Executive Secretary and Chief Economist, United Nations Economic Commission for Africa (UNECA), Addis Ababa; Development Narratives and the Political Economy of Development in Sub-Saharan Africa by Prof. Stefan Dercon, Director, Center for the Study of African Economies and Blavatnik School of Government, University of Oxford, United Kingdom; Accelerating Climate Action and Sustainable Development in Africa: Meeting the Financing Challenge by Dr. Amar Bhattacharya, Senior Fellow Brookings Institution, Washington DC, USA; and External Shocks and Fiscal Space for Climate-Resilient Development in Sub-Saharan Africa by Prof. Kevin Gallagher, Director, Global Policy Center, Boston University

Other distinguished panelist on the policy roundtable included: Prof. Amanda Guimbeau, University of Oxford and Fellow, Pembroke College, United Kingdom; Dr. Selma Karuaihe, Head and Senior Lecturer, Department of Agricultural Economics, Extension and Rural Development, University of Pretoria, South Africa; Dr. Paul Mpuga, Country Chief Economist, African Development Bank Group, and Prof. Amanda Guimbeau, Département d’économie, Universite de Sherbrooke, Canada.

The concurrent sessions and technical sessions of the workshop will start on Tuesday, 23 May 2023 to Monday, 29 May 2023. They will feature 80 presentations of research proposals, work in progress, final reports, and interim PhD thesis reports.

Research PLUS Africa, a leading research organization committed to promoting equity, diversity, and inclusivity has unveiled a collaborative platform aimed at empowering African researchers and revolutionizing the research landscape in the continent.

Dubbed Research SPRING, the platform will serve as a dynamic vehicle for originating cutting-edge research in Africa. It will foster collaboration and co-creation among all African stakeholders to produce impactful research that will shape the future of the African research and evaluation landscape.

With an agenda driven by Africans for Africans, Research SPRING aims to build a robust local evidence base and curate knowledge products that drive socio-economic growth across the continent.

Research PLUS Africa Founder and CEO Mokeira Masita said “We are thrilled to introduce Research SPRING as a collaborative platform for African researchers. Through this platform, we aim to foster collaboration, co-creation, and knowledge exchange among researchers across the continent. By bringing together diverse stakeholders and empowering African researchers, we believe we can drive significant advancements in research and contribute to socio-economic growth in Africa. Collaboration and co-creation are cornerstones of a thriving connection between research and practice in Africa. They have a catalytic effect on the much-needed adoption of data-driven solutions and interventions that in turn spur on socio-economic development.”

The company which also marked its 10 years since inception, has urged and called upon stakeholders and partners in the Research space to support the strong movement on decolonizing research and evaluations.

“Over the past decade, Research PLUS has recognized the pressing need to address historical biases, power imbalances, and knowledge gaps that have resulted from colonial legacies in research. We recognize that decolonization is an ongoing process, and we are dedicated to continuously learning, unlearning, and taking concrete actions to dismantle colonial structures within the research community. We want to urge everyone in this space to join us in this journey” Mokeira Masita, the Founder and CEO of Research PLUS Africa said.

Over the past decade, Research PLUS Africa has been at the forefront of promoting equitable, inclusive, and locally-driven research in Africa. The organization firmly believes that research and evaluation processes should reflect the diverse perspectives, cultures, and knowledge systems of the African people.

BasiGo has launched a first-of-its-kind, high-power DC Fast charging station for electric buses in Buru Buru. The station has capacity to charge 6 electric buses simultaneously but is projected to support 25 Electric Buses by year’s end. The charging station is the first to be connected to Kenya’s new E-mobility tariff approved by EPRA in March of this year.  The E-mobility tariff provides low-cost power for electric vehicle charging during night-time hours when Kenya currently has a surplus of renewable energy supply.

Speaking at the launch, Jit Bhattacharya , BasiGo CEO said:  “BasiGo is proud to have our Buru Buru charging station be the first connected through the new E-mobility tariff. Every Electric Bus we deploy, and charge replaces the consumption of 20,000 Litres per year of imported diesel, with the consumption of 50 MWh of clean, renewable electricity produced here in Kenya. With the new E-mobility tariff, we can invest in infrastructure like this charging station and enable the rapid growth of the electric vehicle industry in Kenya.”

Speaking at the launch, Dr. (Eng.) Joseph Siror,  KPLC Managing Director and Chief Executive Officer said : Here in Kenya, the transport sector contributes to 67% of all emissions in the energy sector and 12% of national emissions. The sector emissions are projected to rise to 17% in 2030. To combat this trend, the E-mobility sector ought to be supported to grow and take off in the country. Being the biggest economy in the region, an innovation hub, and a clean energy global leader, Kenya stands an unparalleled chance to become the launch pad for the rest of the continent when it comes to the growth of the EV sector.

BasiGo now has 3 charging sites in operation in Embakasi, Kikuyu, and now BuruBuru, with capacity to charge over 20 electric buses. Located on Rabai Road, the Buruburu station will be the home base for Electric Buses operated by OMA Services and Embassava SACCO.

George Muriithi Githinji, Chairman OMA Sacco said: “We are grateful to BasiGo for this partnership and entrusting us with 2 e-buses initially and now we are at 4. This is a transformation to our industry in terms of operations efficiency especially with the Pay as you Drive mode, cost effectiveness and environment friendliness compared to our diesel buses. The facility brings efficiency to our model of operations, because of its proximity and has helped us add additional 8-10 trips in our operations, which translates to revenue of around 22,000 per day.

“Convenient and reliable charging infrastructure is the most critical challenge for electrifying public transport in Kenya. The Buru Buru station is located directly along our customer’s operating routes, making charging convenient and easy for their daily bus operations.  Stations like this represent the future of how public transport will be powered in Kenya, and it is made possible through our close working partnership with Kenya Power and Lighting Company (KPLC),” Jit added.

By the end of 2023, BasiGo charging stations will be made open to the public to charge electric cars and trucks. BasiGo plans to deploy charging Stations like these across Nairobi and eventually across the country, to support the deployment of 1,000 Electric buses to Nairobi bus operators over the next 3 years.