Corporate Good News from Africa

  • CA taps insider to succeed Wangusi:

The Communications Authority of Kenya (CA) has replaced long serving Director-General Francis Wangusi in defiance of a court order stopping his ouster.CA chairman Ngene Kariuki Thursday announced that the Director of Legal services, Mercy Wanjau, will hold the corner office in acting capacity until the authority chooses a substantive head. Mr. Kariuki said Mr. Wangusi had been at the organisation for more than 15 years. “As you may recall, Mr. Wangusi assumed office in August 2012, having served in an acting capacity in the previous year. He has had a unique opportunity and honour of serving at the helm of the Authority for two terms and several more years as a head of department at CA,” Mr. Kariuki said. Mr. Wangusi’s term ended yesterday but a court order obtained by activist Okiya Omtatah had voided the board that would have appointed his replacement.

  • CBA posts flat half year earnings at Sh2.36 billion:

Commercial Bank of Africa (CBA) has posted a 2.87 percent jump in net profit in the half-year ended June, boosted by higher interest income. The lender made a net profit of Sh2.36 billion in the period, compared to Sh2.29 billion in the same period last year. Its total interest income jumped 1.85 percent to Sh9.81 billion as non-interest income dropped 1.85 percent to Sh5.2 billion. CBA’S loan book expanded by Sh6.89 billion or 5.7 percent to Sh120.2 billion in the period from Sh113.79 billion the year before. Provisions for bad loans went down by 82.2 percent to Sh285.5 million from Sh1.61 billion last year, highlighting improving asset quality. The bank’s volume of gross non-performing loans rose by 6.83 percent, which is the equivalent of Sh778.1 million to Sh12.16 billion during the period under review, from the Sh11.39 billion it reported last year.

  • Cameroon encouraging the business climate:

Cameroon encourages investors to explore areas of growth. Cameroon is rich in natural resources including oil, gas, agriculture, production and processing among others. The country whose North-West and South-West regions remain shaken by insecurity invites partners to come invest in promising and income-generating areas such as crude oil, which remain one of the sectors still spared by the crisis. We interviewed Ekoko Mukete, Vice-President of the Cameroon Chamber of Commerce, on the institution’s work to encourage the business climate in Cameroon.

  • Africa- Japan : the 7th TICAD in sight:

The 7th Tokyo International Conference on Africa’s development begins next Tuesday, an event focusing on future relations between Africa and Yokohama. Education, development, public and private sectors… These are some of the topics to be discussed in Yokohama at the 7th Tokyo International Summit on African development. TICAD 7 will come back to ’‘The Nairobi Declaration’‘, adopted in 2016, which highlighted the idea of’ the promotion of resilient health systems for quality of life”, such as one of its priority areas on the continent. Africa which is considered as the continent that suffers the most from infectious and other diseases, is a real obstacle to its development.

Note:
Kindly note that the above mentioned news have been extracted and googled thru the various local news papers from African continent
BDH Recruitment Services, is an Executive Search firm, we mainly focus on recruiting for mid an senior management roles from our clients in Africa, Asia, Middle East and Oceanic belt, We specialise in recruiting for local as well as expatriate staff for clients
If you have any immediate roles to work, kindly email us your requirement on info@bdhrs.net
More about us on www.bdhrs.net

Corporate Good News from Africa

  • Female Entrepreneurs lobby launches in Kenya:

The Commonwealth Businesswomen’s Network (CBW), a lobby bringing together female entrepreneurs from 54 member States, Tuesday launched its local chapter as it looks to further empower women economically across the region. The Kenya office comes two years after CBW Africa was launched at the end of 2017 as a strategic regional partner to Commonwealth business women working towards empowerment and leadership. “It is what is called the Commonwealth Advantage. It is exciting to see CBW Kenya Chapter launched. The network will support women and help them grow their businesses for the country’s prosperity,” said CBW-Kenya Director Dr Josephine Ojiambo. CBW is recognized by the 54 official Commonwealth governments across five continents. To kick start operations of the local chapter, CBW-K will host an event on 18th September 2019 in Nairobi that will include an exhibition show casing positive contributions in women empowerment programmer within the CBW – K network.

  • Adopt policies that can help in jobs creation:

The International Youth Day that was marked on August 12 was preceded by a national youth week. This was an opportune time to celebrate the youth’s contribution to nation-building besides reflecting on the challenges facing them. The Constitution prescribes a youth as a person aged between 15 to 35 years. and they account for 32 percent of the total population. In the year 2003, the Narc administration introduced affirmative policy strategies to enhance youth capacities and abilities and probably expedite the realization of Sustainable Development Goals (SDGs)Meanwhile, thousands of youths fresh from colleges join the job market yearly, but only a few get absorbed in spite of their qualifications. Ironically, the Federation of Kenya Employers has expressed concern about the human capital churned out by our institutions of learning, regarding lack of appropriate skills and expertise required in the market. Establishment of a ministry purposely handling youth affairs was a starting point in youth empowerment and a platform for the advancement of targeted affirmative actions.

  • Treasury ups domestic debt target to Sh300 billion:

The Treasury has raised the domestic borrowing target for the current financial year that started in July by Sh16.8 billion, hinting at a possible shortfall in projected tax revenue. Acting Treasury Secretary Ukur Yatani has in a gazette notice increased to Sh300.31 billion the fresh debt to be borrowed from domestic investors, which is 5.9 percent more than the Sh283.5 billion read in the June 13 Budget Statement by then Treasury CS Henry Rotich. The Treasury is facing a lower debt repayment burden this fiscal year with domestic maturities projected at about Sh122.58 billion, 44.37 percent less than the Sh220.4 billion that matured in the year ended June 2019.”It is currently not yet clear what drove the upward adjustment,” Standard Investment Bank (SIB) said in a note sent out to investors Tuesday. The government ordinarily raises its borrowing targets to plug shortfalls in tax receipts.

Note:
Kindly note that the above mentioned news have been extracted and googled thru the various local news papers from African continent
BDH Recruitment Services, is an Executive Search firm, we mainly focus on recruiting for mid an senior management roles from our clients in Africa, Asia, Middle East and Oceanic belt, We specialise in recruiting for local as well as expatriate staff for clients
If you have any immediate roles to work, kindly email us your requirement on info@bdhrs.net
More about us on www.bdhrs.net

Corporate Good News from Africa

  • Kenyans buy 45 VW comfort line units from DT Dobie:

Car dealer DT Dobie, the franchise holder of German car maker Volkswagen, says it has sold 45 units of the new locally assembled Polo Vivo Comfort line as the firm ramps up efforts to expand its portfolio of Kenya-produced motor vehicles. The auto dealer started producing the new 1600cc Comfort line model in April. It is priced at Sh1.69 million after its predecessor 1400cc Polo Vivo, which has so far sold about 280 units since start of its assembly in 2016.“In the beginning we sold about five Polo Vivo in a week but the demand has grown steadily since then and we are getting orders of about 25 of this model in a week. This goes to show that locals are willing to spend on new cars when they understand the benefits of the new over the mitumba (second-hand),” said DT Dobie Director of Sales and Marketing Alexander Helfritz. Last week it unveiled its locally assembled van, Caddy Combi.

  • State set to recruit interns on monthly pay of Sh25000:

The Public Service Commission (PSC) will next month start the hiring of interns that will be paid Sh25,000 monthly. Commission chairman Stephen Kirogo told the National Assembly Committee on National Cohesion that the PSC is drafting a policy to guide the recruitment. The PSC targets to hire 3,000 interns who are expected to be posted to various stations by mid-September. “We start the recruitment in August and qualified individuals will be required to apply directly to the commission,” said Mr. Kirogo. Parliament revised the PSC budget for the year starting July to include a Sh1 billion allocation to facilitate the hiring of interns.

  • State vows to keep off Collymore succession:

The government has made a U-turn on the succession race at Safaricom , saying it will work with whoever the Telco’s board chooses to replace the late Bob Collymore. The move is a departure from Kenyan officials’ position in the past that he should be succeeded by a local, a development that led to a delayed announcement of his replacement, according to a Reuters report at the time. “Their (Safaricom) board will decide who they will have as the new CEO. There is no say from the government on who becomes CEO, once they (Safaricom) decides, then we will carry on with that person,” said ICT Secretary Joe Mucheru last week. Safaricom, which is Kenya’s most profitable company, is seeking a successor to Mr. Collymore who succumbed to cancer this month, just months after he agreed to stay on for an additional year to August 2020 in what was seen as a move to allow the government and Vodafone to negotiate an agreement.

  • Naivasha, Konsa City named special zones:

The Government has designated 9,000 acres of land in Naivasha, Mombasa and Machakos as special economic zones (SEZs) as it steps up efforts to boost manufacturing. Trade and Industrialization Cabinet Secretary Peter Munya gazetted the zones Friday meaning they enjoy special tax and infrastructure that facilitate a wide range of activities such as storage, export and re-export. “The Cabinet Secretary for Industry, Trade and Co-operatives on recommendation of Special Economic Zones Authority, declares all that land being title No. L.R. No. 8396/56, measuring 404.7 hectares (1,000 acres) in Mai-Mahiu area within Nakuru County to be a Special Economic Zone,” said Mr. Munya.

Note:
Kindly note that the above mentioned news have been extracted and googled thru the various local news papers from African continent
BDH Recruitment Services, is an Executive Search firm, we mainly focus on recruiting for mid an senior management roles from our clients in Africa, Asia, Middle East and Oceanic belt, We specialise in recruiting for local as well as expatriate staff for clients
If you have any immediate roles to work, kindly email us your requirement on info@bdhrs.net
More about us on www.bdhrs.net