Anglo Currency

One year ago today, The Sunday Standard
reported on an attempt to swing the contract to print Kenya’s currency towards French firm, FranÁois-Charles Oberthur Fiduciaire, which had previously been sub-contracted by Anglo Leasing to print "new generation passports" for the Kenya government. Eventually, De La Rue retained the contract, which they have held since independence.

Airbus to Kenya Airways?

Airbus have set their sights on re-capturing some aircraft orders from Kenya Airways.

The Boeing – Kenya Airways (KQ) partnership has been very successful especially with Boeing’s highly-rated 777 and it looks unlikely that airbus will break the Boeing strange-hold on KQ's fleet. Still, the airline industry is a continuously evolving one and airline order decisions can be determined be whoever can come up with the most creative financing offer.

Boeing has already selected KQ’s main rival - Ethiopian Airlines to be the launch African airline for it’s new 787 aircraft. Airbus can counter that move by buying up KQ’s older Boeing 767 aircraft from the airline and selling Kenya Airways their new all-new A350 instead at heavily discounted prices - as their African launch customer.

Other news
CMC: (distributors of new Volkswagen, ford, land rover, others) The company's turnover increased from 6 to 6.81 billion shillings and after tax profit increased from 263m to 340 million shillings (7.0 EPS). The company will pay a dividend of 1.5 shillings after the AGM to be held Connaught House in industrial area on February 24 at 11 a.m. (Shareholders register closes on Jan 31)

A Baumann: AGM will be held at the Bomas of Kenya on Saturday February 11.

Serena: Kenya Commericla Bank will set up help desks at its branches to assist Serena shareholders in regard to the share swap offer.

Foreign Aid to Africa
- The European Union will set up its own trust fund to disburse aid to Africa without reference to the World Bank which is currently led by U.S. neo-conservative Paul Wolfowitz.
- The US plans to re-deploy diplomats from Europe and send them to developing countries.

Opportunities

Scholarships
Ford foundation international fellowship program will be giving out 16 fellowships to Kenyans (among 47 to East Africans) for studies in any part of the world. Ford will finance tuition, health insurance, subsistence, travel and other costs towards up to 3 years of formal post gradate study. Forms and details can be obtained from this site and the deadline for applications is March 1.

Agriculture
For ranchers: To combat the loss of livestock from the on-going drought, the Ministry of Agriculture and the Agricultural Finance Corporation have launched a livestock- off-take program which targets private ranch owners with surplus land capacity to purchase animals from drought-hit areas. Apply through info@agrifinance.org.

For mid-size farms: A horticultural exporter is seeking farmers in Rift Valley and Central provinces with at least 40 acres of land, year round supply of water, adequate labour, and who are willing to implement EUREPGAP requirements - who will then grow French beans or snow peas for exports . Apply to DNA/615 P O Box 49010-00100 Nairobi by 28 February.

beer distribution
East African Breweries is seeking distributors of its senator keg brand. Applicants must have a pick-up, retail outlet, PIN & VAT registration and be prepared to invest 600,000 shillings in the business. Apply to the head of group procurement EABL P O Box 30161 Nairobi by January 30.

Jobs
Accountant at the Kenya Horticultural Development Program/USAID Applicants should be fully qualified accountants with 5 years experience in budget preparation and financial management, preferably having prior accounts experience with USAID-funded projects. Apply to angela@fintrac.com by February 24.

British American Asset Managers
- Portfolio Manager: applicants must have business degree, professional qualification e.g. CFA and have worked in investment management for 3 years.
- Manager – Intermediary Development: applicants must have business degree with a marketing qualification and 3 years experience in financial services.
- Financial Planning Manager (7 positions): applicants should have business degree, 3 years experience in financial industry e. g banking, insurance, stock broking or fund management.
Apply to baam@baam.co.ke by February 3.

KLSA - Pannell Kerr Forster
- Audit managers: applicants should have a degree with accounting qualification (e.g. CPA, ACCA, ACA) and five years experience at audit firm, providing audit services to different companies as well as posses good knowledge of ISA and IFRS
- Tax Manager: applicant should have degree with accounting qualification (e.g. CPA, ACCA, ACA) and five years experience at a tax consulting firm.
Apply to pkfnbi@klsa.net by 15 February.

KADET Microfinance (a World Vision subsidiary)
- Head of Operations: applicants should have advanced business degree, 10 years experience in banking or micro finance, - at least 5 of which at senior level and be aged 30 – 45 years.
- Human Resource & Administration Manager: applicant should have a business degree with HR specialization and 4 years HR and admin experience at large corporation (age 28 – 45)
- Executive Assistant to CEO: applicants should have university degree, 3 years PA experience and be aged 28 – 35 years.
Apply to kadetrecruit@wvi.org by January 27.

Procurement Specialist to the Government of Kenya micro, small and medium enterprises competitiveness project. Applicants should have 8 years relevant experience, a commerce or business degree with good knowledge of GoK and World Bank procurement procedures and be members of the chartered institute of purchases and supplies (MCIPS). Apply to info@msmekenya.org by 10 February.

Airline: Precision Air (Tanzania) is hiring 10 flight attendants. Apply to pwrecruit@precisionairtz.com.

Gambling: The Panari Center is seeking dealers, inspectors and pit bosses to work at its casino.

Progressive Banking

progressive ATM's
One way of beating the long queues and over-the-counter fees at banks is by operating an account at a bank whose ATM’s enable customers to perform all the basic bank transactions – (i) make withdrawals, (ii) check balances (iii) place deposits and (iv) make transfers – at ATM’s, preferably at no extra charge.



These Bank ATM’s allow deposits
- CFC
- Diamond Trust
- Equity Bank
- National Bank of Kenya
- NIC aka MOVE
- Standard Bank (Stanbic)
- Standard Chartered

ATM’s don’t accept deposits
- Barclays
- Co-operative Bank
- Kenya Commercial Bank
- Kenswitch network (EABS, CBA, Consolidated, I&M, Transnational, others)
- Pesa Point network (various banks)

Schools' footnotes
- In January, some of the most popular/in demand people to know are school headteachers, teachers, members of school’s board of governors and other educationists – who are all called upon by thousands of parents seeking to place their children in coveted and affordable schools.



- Also, girls in Kenya have a huge advantage over boys after sucessfully completing their primary school education. This is because high schools for girls have for many years received an inordinate amount of support (financial, buildings, other) compared to high schools for boys. As a result, girls who pass their standard 8 exams have many more national and quality high schools to choose from compared to boys.

Tuju Da Vinci

No credit?

It seems former communications minister Raphael Tuju forgot/neglected to gazette the merry-go-round appointments of Sammy Kirui (CCK Director General to Telkom Kenya MD) and John Waweru (Telkom Kenya MD to CCK DG). Their appointments have now been sambazed in by the new information and communications minister, Mutahi Kagwe, seven months later.

What’s the word


I am finally reading the Da Vinci Code, by Dan Brown, which appears on most peoples favourite book lists. So far it’s a great story and I am now around the part that takes place in a Swiss bank vault in Paris and has a mysterious funds transfer from the Vatican Bank.

The story reminded me of a book I read many years ago – The Word, by Irving Wallace, which was about the search for a mysterious scroll purported to be a first hand account of the life of Jesus Christ(including his missing years age 12 - 30) that was written by his brother James.

Shares, veges and boxing

Share-woe-lder

The number of complaints about stockbrokers continue to pile up, and while they are not serious enough to warrant official complaints to the CMA (E-mail: compliance@nse.co.ke), they cause great distress to shareholders. some examples; buy/sell orders are not executed on time, orders are forgotten, cheques are not processed on time, shares are sold without orders, shares are not immobilized for months, shareholders are not told about what/when to buy/sell shares etc. Even if one were to switch accounts and join one of the better brokers, the treatment would not be better.

I have found that the best way to avoid some of this frustrations is to insist on having a personal account manager at the stockbrokers' office – who will handle all your personal share matters – one who you can call/e-mail about orders, payments, settlements, share advice etc. Otherwise shareholder frustrations will continue....

veg-inflation

yuck
On Friday I want to have the usual fried fish lunch at my favourite eating house, only to be served cabbage instead of the usual greens along with the meal. I haven’t liked cabbage since high school where I had endured four years of bland servings of it, and when I talked to the owner, she agreed with me completely – cabbage sucks! But it’s all she can afford now that the price of sukuma wiki (greens) has shot up from 300 to about 2,000 shillings a sack, while green leaves now go for around 25 shillings a bunch, up from 5 a few months ago. And while the price of cabbage has also gone up, it will continue to be served until the drought and supply of green vegetable situation in Nairobi changes - hopefully in the near future.

needs an air ticket

Congestina Achieng is an inspiring fighter, who talks tough and backs up her talk accurately with her fists. But I fear that, like many other Kenyan athletes, bad/poor management is going to curtial her promising career. Her decisions to take part in “world championship fights” here in Nairobi that are arranged by her management, while being an enjoyable treat to her fans, are not the best way for her to set up her dream title match against Laila Ali. There's no way Laila Ali will come to fight in Nairobi - where boxing matches are delayed for hours over fees, where managers fleece fans and boxers, where venues and opponents are changed at the last minute, and where fans throw debris into the ring to celebrate a knockdown. If Congestina truly wants to cement her reputation as a world champion, she needs to fly to to Asia, Europe, South America and eventually the USA - to take on their best fighters and champions, and knock them out.

Others bits
- Safaricom has introduced Bamba50 – a 50 shilling credit voucher, matching Celtel's lowest credit voucher.
- High Point Hotel in Lower (upper) Hill (owned by Joe Wanjui) is expanding to take advantage of the resurgent business in the sector.
- Hunting of animals could soon resume in Kenya according to wildlife officials. (Also a pro-hunting opinion piece)