Browsing: East Africa

The service guarantees security and in-call stability, Telkom says

Telkom has introduced a new cloud-based fixed voice service dubbed “Omniconnect”, allowing SMEs and corporates to outsource for robust and secure cutting-edge technology.

Telkom Hosted PBX service will deliver a world-class end-to-end software and hardware system, powered by global technology company Avaya.

Besides making and receiving calls, the service will also offer other features such as conference calls and the ability to integrate with email and the mobile phone.

The subscription-based service will eliminate the need for businesses to make heavy initial capital investment to acquire and maintain the fixed telephone system; nor will they have to host the same on their premises.

Businesses can also flexibly upgrade or scale down the service, in line with changing needs and technology trends.

Telkom Enterprise MD Kris Senanu, said: “This solution will free corporates and SMEs to focus on their core businesses, without …

2018 profits dropped to US$6.1 million from US$18.8 million in 2017

Cement manufacturers-Bamburi Cement has expressed concerns over the Uganda-Rwanda border row, warning it could derail its earnings.

This comes amid a drop in net profit for the year 2018, reported at Ksh614 million (US$6.1 million) down from Ksh1.9 billion (US$18.8 million) in 2017.

“The difficulties experienced in the Uganda-Rwanda border have significantly impacted exports to Rwanda from Uganda and the Group hopes this matter is resolved expeditiously,” the company said in its financial statement signed by Chairman John Simba and Group Managing Director Seddiq Hassani.

The Nairobi Securities Exchange (NSE) listed firm has however reported a 3.7 per cent jump in turnover, from Ksh36 billion (US$3.6 billion) in 2017 to Ksh37.2 billion (US$3.7 billion) in 2018 as cement volumes grew by nine per cent.

“The Group achieved this growth despite a market decline of five per cent in Kenya, …

Coverage of retirement schemes in Kenya remains below 50%

Majority of Kenyans securing their old age by saving under retirement schemes are still exposed to tough times during sunset years, a survey has revealed.

The study by pension fund administrator Zamara Group has revealed that though pension’s legislation in the country has improved the governance and operations of the retirement funds, it has done little to improve the coverage and adequacy of retirement benefits to individuals.

Coverage of retirement schemes in Kenya has remained relatively low with less than 50 per cent of the formal sector covered and coverage of the much larger informal sector virtually non-existent.

According to Zamara Group CEO Sundeep Raichura, even those who are saving under retirement schemes have insufficient coverage to provide an adequate income when they retire.

The study which covered 65,000 retirement scheme members, spread across more than 200 retirement funds in the …