Data analytics firm IDinsight appoints Frida Njogu as East Africa regional director

KENYA – Data analytics, research, and advisory firm–IDinsight has picked Frida Njogu-Ndongwe as its regional director for East Africa amongst other changes at the regional office.   Frida will oversee IDinsight’s projects, partnerships, and collaborations in East Africa, enabling decision-makers to use high-quality evidence to further their goals of improving lives. Frida is a medical doctor, public health specialist, entrepreneur, and development and management consultant. Prior to IDinsight, she was the director of programmes at the Centre for Health Solutions – Kenya and a consultant at McKinsey & Company’s Africa Delivery Hub. She served most recently…

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IFC appoints Amena Arif as new country manager for East Africa and Malawi

EAST AFRICA – The International Finance Corporation (IFC), a member of the World Bank Group, has announced the appointment of Amena Arif as its new Country Manager for Kenya, Tanzania, Uganda, Rwanda, Burundi, Somalia, and Malawi, with immediate effect. Arif joined IFC in 2012 after building a career in commercial banking with Citibank and ABN AMRO Bank. She led IFC’s debt and equity investment transactions working with financial institutions in Pakistan, Afghanistan, and Lebanon and most recently, Arif served as IFC’s Country Manager for Sri Lanka and the Maldives, based in Colombo. As IFC Country Manager…

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Finland backs TradeMark East Africa with US$13m to boost regional trade

EAST AFRICA – TradeMark East Africa (TMEA) and Finland have signed a three-year agreement to revive and boost trade in the region following a decline caused by Covid-19 restrictions.  The US$13 million fund is aimed at supporting initiatives along the Northern Corridor that stimulate economic activity. The agreement was signed at the Kenya Ports Authority headquarters in Mombasa on by Finnish Ambassador to Kenya Erik Lundberg and TMEA board chairman Erastus Mwencha and witnessed by Dr Kevit Desai, Principal Secretary in Kenya’s Ministry of East Africa Community Affairs. Mr Lundberg…

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Standard Bank hires an advisor to assess its involvement in the East Africa oil pipeline project

EAST AFRICA – Standard Bank of South Africa has hired an independent environmental and social advisor to help assess its involvement in Total’s East African Crude Oil Pipeline that environmental lobby groups have opposed, the lender has said. Approximately 263 civil society organisations from around the world, have urged the chief executives of 25 banks not to participate in loans to fund the construction of the US$3.5 billion East Africa Crude Oil Pipeline. They environmentalist have argued in an open letter that this pipeline would pose immense threats to local…

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Hyundai Construction Equipment makes forays into East Africa with NEFC deal

EAST AFRICA – Hyundai Construction Equipment (HCE), an affiliate of the Hyundai Heavy Industries Group, has signed a distributorship agreement with construction equipment dealer NEFC, a move that is set to accelerate its forays into the East African market including Ethiopia, Djibouti, Somalia, Somaliland, and South Sudan. NEFC, which operates many businesses, such as construction, mining, hospitality, aviation, and aviation, is owned by Mohammed Hussein Al Amoudi, Ethiopian- Saudi billionaire businessman who is said to be one of the richest businessmen in the world. As such, NEFC is considered the most influential construction…

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Kenya gets US$18m for green trade and Covid-19 war from Denmark

KENYA – The government of Kenya has received US$18 million support from Denmark to help promote East Africa regional trade and combat Covid-19 pandemic. The funding will be channelled through TradeMark East Africa (TMEA), which works with governments in the region to reduce trade barriers through automation and setting up of the required infrastructure such as One Stop Border Posts (OSBPs). The Danish funding comes in two financial agreements with US$15 million funding Kenya’s efforts to transition to Green Trade and creating sustainable jobs under the Denmark and Kenya Strategic…

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Retailer Choppies to pay US$12m owed to banks and suppliers as it exits East African market

EAST AFRICA – Botswana-based retailer Choppies Enterprises Ltd is facing a US$12.4 million debt owed to banks and suppliers in Kenya and Tanzania, as the retailer prepares to exit from the region after closing down its operations in March 2020. Botswana Stock Exchange listed retailer which is also cross-listed on the Johannesburg Stock Exchange has discontinued operations in four countries — Kenya, Tanzania, Mozambique, and South Africa. The multinational grocery and general merchandise retailer headquartered in Gaborone, disclosed in its 2020 annual report that in the 2019/2020 financial year, the…

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Allianz SE acquires majority stake in Kenya’s Jubilee Holdings subsidiaries

KENYA – German conglomerate Allianz SE has bought a majority stake in Jubilee Holdings regional general insurance subsidiaries for a total of $100 million making it one of the largest transactions in the industry in recent past. Allianz will acquire controlling stakes of between 51 percent and 66 percent in Jubilee’s short-term or general insurance units in Kenya, Uganda, Tanzania, Burundi and Mauritius. Jubilee Holdings will receive $700 million while the rest will be invested in the operating businesses. As part of the transaction, Allianz’s subsidiary in Kenya (Allianz Insurance Company…

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Scania East Africa appoints Lars Eklund as new Managing Director

KENYA – Scania East Africa has announced the appointment of Lars Eklund as the managing director for East Africa region covering Kenya, Uganda, Tanzania, and Rwanda effective October 1. 2020. Eklund who understand the region equally well having previously been the managing director at Scania Tanzania, takes over from Per Holmstrom who is retiring after 41years of service, 7 of which were as head of East Africa region. During his tenure in Tanzania, he turned around the company significantly growing its revenue by over 150% through the restructuring and implementation…

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Google appoints Agnes Gathaiya as the new county director of East Africa

EAST AFRICA – Google, multinational technology company, has announced the appointment of Agnes Gathaiya as its new country director for its East Africa business. Agnes replaces Charles Mutoro who has segued to another role within Google as the Director, Sub Saharan Africa, Government Affairs & Public Policy. As the country director for East Africa at Google, Agnes will be responsible for managing regional operations for East Africa, developing & executing the organization’s in-country strategy for innovation and growth in line with Google’s regional priorities and mission, vision, and values. Contributing…

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