Old Mutual acquires Ghana’s Provident Life Assurance Company

Old Mutual today announces that its acquisition of a majority stake in Ghana’s Provident Life
Assurance Company has become unconditional.

The deal has been approved by the Financial Services Board (FSB) o
f South Africa and the National
Insurance Commission (NIC) of Ghana.

Ralph Mupita, CEO of Old Mutual Emerging Markets, commented: “With distribution in four cities in
Ghana – Accra, Kumasi, Takoradi and Tema – Provident Life Assurance Company provides excellent
opportunities for Old Mutual, giving impetus to our expansion strategy in West Africa.”

Kenya Airways to fly new Boeing 777-300ER direct to Guangzhou, China

From November 19, 2013 the airline will begin flying its new aircraft non-stop three times a week between Nairobi and Guangzhou – China’s third largest city and a key hub of the country’s southern region. The Boeing 777-300ER aircraft is expected to be delivered in mid-October and will commence revenue service in mid-November.   At the moment, Kenya Airways flies to Guangzhou via Bangkok, daily.

Kenya Airways’ Group Managing Director and Chief Executive Officer, Dr.  Titus Naikuni, said that the new direct flights to Guangzhou would facilitate interaction between the two regions by opening up Africa to China through its robust connections from Nairobi. The airline flies to over 40 destinations in Africa.

“China has emerged as a key trading partner for Africa. Our direct flights to Guangzhou seek to build on this relationship in order to make a contribution towards sustainable development of Africa, which is in line with our core purpose as a company,” Dr. Naikuni added.

The direct flights will be operated on Mondays, Wednesdays and Fridays departing from Nairobi just after midnight while   maintaining the current flights to Guangzhou via Bangkok of four times a week.   Together with code-share partner, China Southern, whose hub is Guangzhou, Kenya Airways will be able to service most parts of China. China Southern is the biggest carrier in Asia.    

The introduction of the direct flights to Guangzhou comes only days after Kenya’s President Uhuru Kenyatta concluded a state visit in China during which the two countries signed financing deals to the tune of about KSh425 billion.

In 2012, the value of trade between China and Africa was estimated at US$200 billion. Besides trade, the interaction between China and Africa has been mainly through foreign direct investment and infrastructural development assistance. A study conducted by the African Development Bank (AfDB) in 2011 indicated that Chinese finance will be a significant source of capital for African countries.

Meanwhile, Kenya Airways has made changes on its flights to Hong Kong. From October 2, 2013, the airline will only fly to Hong Kong via Bangkok three times a week, discontinuing the previous service through Dubai in the United Arab Emirates. KQ will in effect maintain daily frequencies to Bangkok from Mid-November.

Alexander Forbes members can now use their pension as mortgage security

A retirement benefits and financial services company, Alexander Forbes has launched a mortgage facility through their multi-employer retirement fund, the Alexander Forbes Retirement Fund.

While addressing the media during their Annual General Meeting, the fund’s Chairperson Ms. Lucy Kambuni shared the driving motivation behind the launch of the mortgage facility as the need to improve the utility of benefits in the retirement fund for the overall betterment of its members’ lives, over and above providing for retirement benefits in old age.

Mr. James Olubayi, the Group Chief Executive Officer and a Trustee of the umbrella retirement fund said that the mortgage facility would enable the members of the retirement fund to utilize up to 60% of their accumulated benefit under the Fund as a security for purposes of securing a mortgage. He added that to date, housing needs of Kenyans by far outstrip the supply and there was now an opportunity for members of the retirement fund to leverage off their existing savings to secure a home, without risking their long term financial security in retirement.

The Divisional Head of Umbrella & Retail Solutions at Alexander Forbes, Ms. Angela Okinda who heads the management of the Fund noted that the launch of the mortgage facility was a great milestone. “For the everyday Kenyan, mobilization of capital to undertake the purchase of a property is quite an uphill task,” Ms Okinda said. The high cost of living with daily consumptive needs competing for the same disposable income as savings and investment, the latter usually loses, she argued. “We want to change the lives of our 22,000 members by making a meaningful impact to their long term well being,” Ms Okinda added. She said the facility will be one of the ways through which more Kenyans can have a permanent shelter and a title deed.

The Alexander Forbes Retirement Fund (AFRF), one of a kind was the first multi-employer umbrella retirement fund in East Africa. Established seven years ago, the fund has experienced tremendous growth with assets worth Kes 10 billion making it a faster growth path in the retirement industry. Currently it is providing retirement and other related benefits such as ill-health early retirement, immigration as well as insured death in service and disability benefits to its 22,000 members and an estimated 300,000 beneficiaries.

So far the fund has about 90 employers participating in it. Ms. Okinda mainly attributed this growth to the fact that the umbrella fund provides a simple, practical, cost effective solution to employers who are seeking a professionally managed fund for their employees.

Mr. John Okondo, a trustee said the Fund will continue to devise various strategies that benefit members to better plan their personal and retirement finances.

Members of the Fund can now apply to utilise up to 60% of their mortgage (or the value of the house, whichever is lower) as a security. This implies that the house is the primary charge and the pension is a secondary charge. In the event of default, the financial institution would first dispose of the house to meet the outstanding obligation. It is only if the proceeds from the same of the house are not sufficient, then the consideration of recover from pension can be pursued.

OMO launches Omo Extra Fresh, alongside a new promotion

Women groups from across the country have a chance to walk away with up to Ksh 75,000 in cash prizes, courtesy of the newly launched OMO Extra Fresh, a variant of the popular OMO detergent..

In line with the detergent’s strategy of creating better life for its consumers, OMO Extra Fresh, which was launched in June, has been engaging women all over the country through their investment groups that are popularly known as ‘chamas’. . .

Ms. Kendi Kilonzo, Unilever’s Regional Category Manager said: “The OMO team appreciates that women are at the heart of what we do. It is therefore important to us that we go to where they are and share in their efforts to create better lives for themselves.”

For each 145 gram packet of OMO Extra Fresh bought, consumers will stand a chance to win cash prizes by sending an SMS to the number 22702. The more SMSs sent the higher the chances a group has of winning.

The leading women group from each region will get Ksh 75,000 while the second runners up will walk away Ksh 50,000. The group that comes in third will get a cash prize of Ksh 25,000. The participating regions include Eldoret, Nairobi, Nyeri, Embu and Mombasa.

Individual consumers also stand to win. All top collectors of the packs in each region walk away with a cash prize of Ksh 1,000.

Through continuous research and development, the OMO detergent has gotten better with time, reducing the time, physical effort and amount of water needed to wash clothes by hand.

“We brought together the power of our laundry detergent with the softness of a fabric softener to enable Kenyan mothers to save time and money as they do not have to buy fabric conditioner separately,” Ms. Kilonzo explained.

Kenya Airways introduces daily direct morning and evening flights to Kigali, Bujumbura

Image of hilly Kigali - Wikipedia

Kenya Airways has introduced new direct flights from its Nairobi hub to Kigali in Rwanda and Bujumbura in Burundi as it consolidates its presence in the East African market.

The twice daily direct flights, in the mornings and evenings, to each of the two East African cities are in addition to the existing round flight from Nairobi, passing through Kigali and Bujumbura and back every day.

In the mornings, the new direct flight to Kigali will depart Nairobi at 0745 hours Kenyan time every day; while at 0905 hours Rwandan time, it will set off for the return flight. In the evenings, it will leave Nairobi at 1700 hours Kenyan time for Kigali, departing Kigali at 1820 hours Rwandan time.

The direct flights to Bujumbura will leave Nairobi at 0810 hours Kenyan time every morning; while the return flight will depart at 0940 hours Burundian time. The evening flight will leave Nairobi at 1730 hours Kenyan time, returning from Bujumbura at 1900 hours.

Kenya Airways’ Group Managing Director and Chief Executive Officer, Titus Naikuni, said that the new service aims at enhancing convenient    travel and trade amongst East African countries following the implementation of the common market protocol that paved way for free movement of people, goods and services within the region.

“These twice a day direct flights from Nairobi to Kigali and Bujumbura tie in with our plans to fly to every African capital by 2016 as we seek to contribute to the sustainable development of Africa,” Dr Naikuni added.

The new direct flights to Kigali and Bujumbura add to Kenya Airways’ current combined night flight that serves  the two cities. Every Monday, Wednesday, Friday and Sunday, the flight departs  from Nairobi at 2350 hours (Kenyan time) for Kigali, leaves Kigali for  Bujumbura at 0105 (Rwandan time) and arrives back in Nairobi at 0520 hours (Kenyan time). On Tuesday, Thursday and Saturday, the flight leaves Nairobi for Bujumbura at 2350 hours (Kenyan time), leaves   Bujumbura for Kigali   at 0125 hours (Burundian time) and arrives back in Nairobi at 0525 hours (Kenyan time) from Kigali.

Within East Africa, apart from Kigali and Bujumbura, Kenya Airways also flies to Dar-Es-Salaam, Entebbe and   Kilimanjaro

Lewa Wildlife Conservancy added to the World Heritage List

Lewa Wildlife Conservancy  (Image: Lewa Wildlife Conservancy Facebook page)

The Mount Kenya –Lewa wildlife conservancy is to be listed as one of the world heritage sites, a positive global recognition that will boost Kenya’s tourist attractions.

The United Nations Educational, Scientific and Cultural Organization (UNESCO) has announced that conservancy, will be added as an extension to Mount Kenya National Park which was designated a World Heritage Site in 1997.

Lewa and Ngare Ndare Forest Reserve were inscribed as an extension to the Mount Kenya World Heritage Site towards end of June following Kenya’s proposal to expand the boundary of the world heritage site.

The World Heritage status is a prestigious recognition for places of outstanding universal value to humanity. Lewa and Ngare Ndare were considered for their outstanding beauty and their varied and impressive ecosystems and biodiversity.

The expansion and extension of the criteria for listing will enhance the protection of the property as a world heritage site and improve the conservation status of the mountain.

The Kenya Tourism Board  (KTB) Managing Director, Muriithi Ndegwa applauded the achievement which he termed as  a confirmation of the Kenya’s amazing landscape that has continued to attract many tourists to the country.

“It is also an assurance to the world that Kenya is keen on sustainable tourism and community involvement in tourism activities and we shall endeavor to do even more” says the Managing Director

It was on the slopes of Mount Kenya that the duke of Cambridge Prince William proposed to his wife now the duchess of Cambridge Kate Middleton.

The two sites are connected to Mt Kenya via the pioneering elephant corridor that serves as a route for landscape connectivity and will join other Kenyan ecological and cultural treasures such as Fort Jesus, the Kenya Lake System in the Great Rift Valley and Lamu Old Town, Kenya and other global sites like the Pyramids of Egypt, the Great Barrier Reef, the Galápagos Islands, the Taj Mahal, the Grand Canyon and the Acropolis.

Lewa Wildlife Conservancy was founded in 1983, when David and Delia Craig set aside 5,000 acres of their cattle ranch and converted it into a rhino sanctuary. Today, the sanctuary encompasses some 60,000 acres.  It is home to 10 percent of Kenya’s black rhino population and 14 percent of its white rhino population, not to mention the world’s largest population of Grevy’s zebras.

Lewa’s mission is not only to conserve wildlife, but also to alleviate poverty in the local community, which is why the conservancy also engages in community healthcare, water management, micro-lending and other social programs.

The conservancy recently held its annual fundraising marathon that took place on the 29^th of June drawing 1,200 runners from around the globe.

Ngare Ndare, Maa for "goats’ water, is a gazetted forest used to promote peace and co-existence among the different communities in the area - the Meru, Maasai, Borana and Kikuyu. The forest is maintained primarily by the local communities as the Ngare Ndare Forest Trust, under the supervision of Kenya Forest Service (KFS).

Being an extension of the Mt. Kenya forest, it has a variety of indigenous plants and is a migratory corridor for elephants and other wild animals to and from Mt. Kenya.

It is also favoured as a sanctuary by animals such as the elephant, rhino and buffalo, where they reside to give birth, nurse their injuries, recuperate or die. 

Kenya Airways Launches Direct Flights to Abu Dhabi

(Image: http://www.aldaracademies.com)

Kenya Airways has officially launched its three-times-a-week direct flights to Abu Dhabi in the United Arab Emirates.

Abu Dhabi, which is the airline’s 61^st destination, becomes the second city in the United Arab Emirates that the airline flies to, after Dubai that it already flies to ten times in a week.

Speaking when he presided over the official launch of the inaugural flight at the Jomo Kenyatta International Airport (JKIA) the Cabinet Secretary for Transport and Infrastructure, Eng. Michael Kamau, noted that the ongoing works to upgrade, expand and modernize the airport would enable it to effectively play its role as a major hub in the region.

“As government, we are committed to finalizing these works on the airport so that we can facilitate Kenya Airways operations and contribute to the region’s development,” Eng. Kamau added.

Kenya Airways’ Chief Executive Officer and Group Managing Director Titus Naikuni said that the airline had decided to commence flights to build on its existing relationship with Etihad Airways, with which it has already signed a codeshare agreement.

“The way the aviation business works is that it helps when you have a relationship with someone in a destination where you are flying to,” Dr Naikuni stated.

Under the codeshare deal, Kenya Airways places its KQ code on Etihad Airways’ service between Nairobi and Abu Dhabi, and onwards to destinations on Etihad’s global network, providing passengers with connections over Abu Dhabi to destinations across North Asia, South East Asia, the Indian sub-continent and Australia. In return, Etihad Airways will now place its EY code on Kenya Airways flights from Abu Dhabi to Nairobi, and onwards to destinations across the Kenya Airways network in Africa.

The launch was also attended by the United Arab Emirates’ and Minister Plenipotentiary, His Excellency Hassan Issa Al Hosani; Managing Director of the Kenya Airports Authority Eng Stephen Gichuki; Kenya Airways’ Chairman Evanson Mwaniki and the airline’s senior management.

Kenya Airways will be flying to Abu Dhabi, a cosmopolitan centre of business and a tourist attraction, which is also the capital of the United Arab Emirates and gateway to the Emirate of Abu Dhabi, every Mondays, Wednesdays and Fridays.