Author: Wanjiku Njugunah

• KBL Managing Director John Musunga has been appointed the Managing Director and Chief Executive Officer of Guinness Nigeria PLC, a Diageo subsidiary
• Musunga will officially start in the new position from November 1, 2022, taking over from Baker Magunda, who has decided to take early retirement
• Musunga was appointed MD of KBL in March 2021 and has, over the last 19 months, led the business as it recovered from the initial impact of the COVID-19 pandemic and recorded phenomenal growth

Kenya Breweries Limited (KBL) Managing Director John Musunga has been appointed the Managing Director and Chief Executive Officer of Guinness Nigeria PLC, a Diageo subsidiary.

Musunga will officially start in the new position from November 1, 2022, taking over from Baker Magunda, who has decided to take early retirement.

Musunga was appointed MD of KBL in March 2021 and has, over the last 19 months, led the business as it …

• The Capital Markets Authority (CMA) and the Kenya Development Corporation (KDC) have signed a new Memorandum of Understanding (MOU) 
• The MoU will help the two parties to promote greater utilisation of the capital markets through structured financial products by corporates, including SMEs
• It will also establish a partnership through which joint efforts in education, awareness creation, and stakeholder engagements will be executed to improve knowledge levels and uptake of financial products and services

The Capital Markets Authority (CMA) and the Kenya Development Corporation (KDC) have signed a Memorandum of Understanding (MOU) to promote greater utilisation of the capital markets through structured financial products by corporates, including SMEs.

On September 28, 2022, the two parties said that the MOU would establish a partnership through which joint efforts in education, awareness creation, and stakeholder engagements will be executed to improve knowledge levels and uptake of financial products and services.

CMA and KDC …

• Aviation umbrella body Kenya Association of Air Operators (KAAO) has announced the appointment of Engineer Liz Aluvanze as the new CEO
• KAAO said its executive committee had picked Aluvanze to replace its long-serving CEO Col. (Rtd) E.K. Waithaka, who recently went into retirement. Waithaka had been at the company for 25 years
• Prior to her appointment, she worked at the Kenya Civil Aviation Authority (KCAA) and has worked with various airlines, including Kenya Airways and Fastjet

The Kenya Association of Air Operators (KAAO) has announced the appointment of Engineer Liz Aluvanze as the new CEO.

In a statement dated September 26, the company said its executive committee had picked Aluvanze to replace its long-serving CEO Col. (Rtd) E.K. Waithaka who recently went into retirement. Waithaka had been at the company for 25 years.

Commenting on the appointment, KAAO said Aluvanze brings, “a wealth of experience as an Air Transport professional …

• An expert in the tourism industry has urged countries in the East African Community (EAC) to liberalise their airspaces and open up skies to promote the tourism industry in the region
• East African Tourism Platform Chair Fred Odek said the existing restrictive pacts, such as the Bilateral Air Service Agreements, were disrupting the harmonisation of air transport services 
• Odek called upon the partner states to complete the EAC regulations to facilitate the liberalisation of air travel in the region

Countries in the East African Community (EAC) should liberalise their airspaces and open up skies to promote the tourism industry in the region.

Fred Odek, the Chairperson of the East African Tourism Platform (EATF), said the existing restrictive pacts, such as the Bilateral Air Service Agreements (BASAs), were disrupting the harmonisation of air transport services.

Odek called upon the partner states to complete the EAC regulations to facilitate the liberalisation of …

• Kenya Power says it has completed repair works on the 66/11kv EPZ sub-station to boost the stability of electricity supply to EPZ Industries in Athi River, Kitengela and the surrounding areas
• The repair works involved the replacement of faulty switchgear, which diminished the substation’s capacity to serve customers in the area
• Kenya Power said it would commission the substation on Sunday, September 25, following the completion of the repair works

Kenya Power said on Friday, September 23, 2022, that it had completed repair works on the 66/11kv EPZ sub-station to boost the stability of electricity supply to EPZ Industries in Athi River, Kitengela and the surrounding areas.

The company issued a statement saying that the repair works involved the replacement of faulty switchgear, which had diminished the substation’s capacity to serve customers in the area.

Kenya Power said it would hence commission the substation on Sunday, September 25, following the …

• HACO Industries and the University of Nairobi have signed an agreement to collaborate to advance Kenya’s Fourth Industrial Revolution
• The move is part of the company’s wider aim to bridge the gap between industry and academia in the country
• The Collaboration Agreement focuses on building a symbiotic relationship that will enhance both institutions’ research and development capacities 

HACO Industries and the University of Nairobi have signed an agreement to collaborate to advance the Fourth Industrial Revolution as part of the company’s wider aim to bridge the gap between industry and academia in the country.

The Collaboration Agreement focuses on building a symbiotic relationship that will enhance both institutions’ research and development capacities within the context of a highly dynamic and technological manufacturing sector.

It also looks at fostering the co-creation of knowledge that will contribute toward knowledge transfer and increased innovation capacities for university students.

HACO Industries Managing Director Mary-Ann …

• Kenya’s export value increased by 17 per cent in 2021 to hit KSh 666.7 billion (US$ 5.5 billion) compared to KSh 567.4 billion (US$ 4.7 billion) in 2020
• Data from the Kenya Trade Network Agency (KenTrade) Business Intelligence Tool shows that the increase was influenced by earnings from top agricultural products (tea and horticultural products)
• The export volumes increased from 643.7 billion tonnes to 743.7 billion tonnes in 2021 with improved exports in clothing accessories and agricultural products

• Shelter Afrique has extended a USD19.5 million line of credit to Lagos-based real estate firm Mixta Real Estate PLC
• The 7-year facility with a moratorium of 24 months has been structured to co-finance Mixta’s affordable residential projects investments and for debt refinancing
• Of the amount, USD9.75 will be used to co-finance 1,171 affordable housing units comprising the ongoing Beechwood Park project (187 units) and New Marula projects (984 units)

Shelter Afrique has extended a USD19.5 million line of credit to Lagos-based real estate firm Mixta Real Estate PLC.

According to the Pan-African housing development financier, the 7-year facility with a moratorium of 24 months has been structured to co-finance Mixta’s affordable residential projects investments and for debt refinancing.

Of the amount, USD9.75 will be used to co-finance 1,171 affordable housing units comprising the ongoing Beechwood Park project (187 units) and New Marula projects (984 units).

The other USD9.75 will be …

• NSE-listed agribusiness Kakuzi says it has secured pre-shipment approvals from the Kenya Plant Health Inspectorate Service (KEPHIS) for its second fresh avocado shipment to China
• Kakuzi said it would ship several 20-foot container loads to China by sea before the end of this week as demand for quality Kenyan avocado fresh fruits continues to grow
• Kenya is currently China’s only approved African source market for fresh Avocado fruits

Kakuzi Plc has secured pre-shipment approvals from the Kenya Plant Health Inspectorate Service (KEPHIS) for its second fresh avocado shipment to China.

On September 20, 2022, the Kenyan agribusiness firm said it would ship several 20-foot container loads to China by sea before the end of this week as demand for quality Kenyan avocado fresh fruits continues to grow.

Kenya is currently China’s only approved African source market for fresh Avocado fruits. Alongside Kenya, China counts several leading producers, including Mexico, New …

• New data now shows that CIC Asset Management has retained its leading position in unit trusts in Kenya, with a 40.46 per cent market share
• Assets under CIC’s management reached KSh 56.9 billion as of March 2022, which is a 1.14 per cent rise compared to KSh 56.2 billion as of December 2021
• CIC Asset Management Managing Director Stanley Mutuku noted that the economy was on a growth trajectory, which is reflected in the performance

Kenya’s CIC Asset Management has retained its leading position in unit trusts in Kenya, with a 40.46 per cent market share.

Data by the Capital Markets Authority shows that the CIC unit trust scheme market share in the second quarter of 2022 was the largest unit trust scheme in the country.

Assets under CIC’s management reached KSh 56.9 billion as of March 2022, which is a 1.14 per cent rise compared to KSh 56.2 billion …