Author: Kang'ethe Njoroge

• Higher prices of raw materials and energy have forced the construction costs to sky rocket in Africa.
• Business interruption/supply chain disruption and natural catastrophes rank as the top risks for the construction and engineering sector, followed by the energy crisis according to Allianz Risk Barometer respondents for this industry.
• According to the report, higher prices of raw materials and energy have forced the construction costs to sky rocket.

Business interruption and supply chain disruption and natural catastrophes rank as the top risks for the construction and engineering sector, followed by the energy crisis according to Allianz Risk Barometer respondents.

According to the report, higher prices of raw materials and energy have forced the construction costs to sky rocket in Africa.

“Larger values are a risk for companies. Construction costs are soaring because of the higher prices on energy and raw materials. Replacement is costing more and taking longer. Materials can …

• Amazon Web Services has partnered with Kenya’s  Information Communication Technology (ICT) Authority to upskill 10,000 students using AWS Academy.
• Beginning in June 2023, students can enrol in a ready-to-teach cloud computing curriculum that prepares them to pursue industry recognized certifications and in-demand jobs.
• The curriculum also helps educators stay at the forefront of AWS Cloud innovation so that they can equip students with the skills they need to get hired in one of the fastest-growing industries.

Amazon Web Services, Inc. (AWS), an Amazon company, has partnered with Kenya’s  Information Communication Technology (ICT) Authority, to upskill 10,000 students using AWS Academy. AWS Academy is an AWS program that empowers higher education institutions to prepare students for industry-recognized certifications and careers in the cloud.

Beginning in June 2023, students can enroll in ready-to-teach cloud computing curriculum that prepares them to pursue industry recognized certifications and in-demand jobs. The curriculum also helps educators …

• Nissan Africa has announced changes in leadership aimed at unlocking the potential of the African market.
• The new leadership structure  will take effect from  April 1, 2023,to drive the company’s mid-term plan.
• Sherief Eldessouky has been appointed Managing Director of Nissan Africa replacing Mike Whitfield.

Nissan Africa has announced changes in leadership aimed at unlocking the potential of the African market. The new leadership structure will take effect from April 1, 2023, to drive the company’s mid-term plan.

Sherief Eldessouky has been appointed Managing Director of Nissan Africa replacing Mike Whitfield, who will now become the Group Strategic Advisor for Policies, Political Affairs and External Relations.

Eldessouky, who previously combined the twin roles of being Nissan Egypt country director and driving the transformation of Nissan Africa, has spent his life in the automotive industry in a career that has taken him from his native Egypt to Brazil, China, Korea, the …

• STIHL East Africa has launched a tree pruning device in the East African  market, as the firm seeks to increase Agriculture Mechanisation in the region. 
• STIHL East Africa Sales Manager John Wachira says the move is aimed at increasing productivity and quality of tea in the market as the region is among the largest tea producers in the world. 
• Kenya is the third largest tea producer in the world and holds the leading spot in global tea exports followed by Uganda, Malawi, Rwanda, Tanzania, and Zimbabwe, which all contribute importantly to global trade. 

STIHL East Africa has launched a tree pruning device in the East African  market, as the firm seeks to increase Agriculture Mechanization in the region. 

Sales Manager John Wachira says the move is aimed at increasing productivity and quality of tea in the market as the region is among the largest tea producers in the world. 

Kenya …

• HF Group has posted $1.9 million in the 2022 full year results from a loss of $5 million recorded in 2021 representing a 939 percent increase. 
• Management attributes the turnaround to improved performance by the Group’s banking subsidiary, HFC.
• The group’s  performance reflects the relentless focus they have put on their business transformation strategy.

HF Group has posted a profit of $1.9 million in the 2022 full year results from a loss of $5 million recorded in 2021, representing a 939 percent increase. 

Management attributes the turnaround to improved performance by the Group’s banking subsidiary, HFC, whose profit after tax grew by 147 per cent to $1.2 million from a loss of $2.8 million in 2021.

Net interest income grew by 18 percent to $16 million from $13.8 million same period 2021 while non-funded income grew by 63 percent to $6.6 million compared to reported $4 million the same period …

• Britam Holdings PLC Group has reported a 192 percent increase in profit before tax of $22 million for the financial year ended 31 December 2022 compared to a profit before tax of $7.6 million reported in the financial year ended 31 December 2021.
• Management attributes the improved performance to a growth top line revenue as well as operating efficiency and cost management initiatives.
• The Group remains focused on the improvement of operating efficiency. 

Britam Holdings PLC Group has reported a 192 percent increase in profit before tax of $22 million for the financial year ended 31 December 2022 compared to a profit before tax of $7.6 million reported in the financial year ended 31 December 2021.

Management attributes the improved performance to a growth top line revenue as well as operating efficiency and cost management initiatives. 

“This together with improved dividend and interest income helped cushion the significant fair value …

• Kenya has the potential to sequester, reduce, or avoid ~30 metric tons of carbon dioxide equivalent per year and mobilize up to $600 million annually.  
• From 2016 to 2021, Kenya issued ~26 Mt CO2e of carbon offsets, more than any other African country and approximately 20 per cent of total African credits. 
• The Government has set up a technical working committee to support the implementation of Article 6 of the Paris Agreement to leverage the carbon market.

Kenya has the potential to sequester, reduce, or avoid ~30 metric tons of carbon dioxide equivalent per year and  mobilize up to $600 million annually from regulatory compliance and voluntary carbon market (VCM) projects by 2030 using an average price of $20 per ton.

This is according to the latest Kenya Private Sector Alliance (KEPSA) report dubbed “Change the Story: Developing a Local Carbon Market in Kenya”. The report describes the current …

• Bamburi Cement has signed a partnership with real estate firm AMG Realtors in a bid to support diaspora landowners to build their homes in a transparent construction process in Kenya.
• Due to the integrity issues that home-builders face in Kenya, Bamburi has entered this partnership through its Maskani Initiative to provide end-to-end technical advice.
• The initiative will bring together a network of legitimate and reputable built environment professionals, building materials suppliers, and contractors to offer a custom construction solution.

Bamburi Cement has signed a partnership with real estate firm AMG Realtors, in a bid to support diaspora landowners to build their homes in a transparent construction process in Kenya.

Due to the integrity issues that home-builders face, Bamburi has entered this partnership through its Maskani Initiative to provide end-to-end construction technical advice and building solutions to diaspora customers who have purchased land locally and seek to further develop their property, …

• Kenya could soon be exporting Avocado to Malaysia as it seeks to finalise import requirements for Avocado to Malaysia. 
• Kenya’s High Commissioner to Malaysia Francis Muhoro said he has written to the Kenya Plant Health Inspectorate.
• The move comes after it began exporting Avocado to China in 2022 cementing its place as the continent’s leading exporter of the fruit and the sixth largest globally. 

Kenya is in the final stages of a process that will see the country export avocados to Malaysia.  

Speaking during the Kenya – Malaysia Business Forum held in Nairobi, Kenya’s High Commissioner to Malaysia Francis Muhoro said he has written to the Kenya Plant Health Inspectorate- KEPHIS, seeking to finalize import requirements for Avocado to Malaysia. 

The move comes after it began exporting avocados to China in 2022 cementing its place as the continent’s leading exporter of the fruit and the sixth largest globally. 

Data from …

• Small and Medium enterprises (SMEs) are the backbone of the world economy, accounting for most businesses across nearly every region.
• In Africa, SMEs provide an estimated 80 percent of jobs across the continent, representing an important driver of economic growth.
• Credit constraints are a serious challenge for SMEs. Without reliable sources of working capital, SMEs are unable to make investments needed for growth, leading to stagnation.

According to the World Bank, Small and Medium enterprises (SMEs) are the backbone of the world economy, accounting for most businesses across nearly every region. In Africa, SMEs provide an estimated 80 percent of jobs across the continent, representing an important driver of economic growth.

The global lender says Sub-Saharan Africa alone has 44 million Micro, Small and Medium Enterprises (MSMEs) , almost all of which are micro.

“For these businesses to grow, create more jobs, and generate economic growth, they need access to …