Actis Welcome Nakumatt Holdings To Garden City

Atul Shah - CEO & Founder Nakumatt  Chain Of Supermarket outlets

Actis, the pan-emerging markets private equity firm, will welcome retail chain Nakumatt Holdings to Garden City after signing heads of terms. Nakumatt joins South African retail giant Game as the mall’s second major anchor tenant. Garden City is a Grade-A mixed used scheme incorporating residential, leisure and office space with a 500,000 square foot shopping mall alongside Nairobi’s Thika Road.  

Leasing agent Knight Frank is working with top local and foreign brands to fill the 120 remaining stores in what will become East Africa’s largest retail centre. They are focused on bringing new fashion brands to the Kenyan market and discussions are ongoing with a number of South African retail groups. Speaking during the signing ceremony, Actis Managing Director for East Africa Mr. Michael Turner said: “We are delighted to welcome Nakumatt to Garden City: its involvement demonstrates confidence in this development and our vision to establish the premier retail centre in East Africa. It reaffirms Actis’s ability to attract the best brands to its real estate developments, helping to expand Kenya’s retail base.”

Nakumatt Managing Director, Mr. Atul Shah said the new store fits with the strategy of increasing Nakumatt’s footprint in strategic locations to help boost revenues. He said: “We are excited about the opportunity to serve our customers once again in this area as we continue to expand our services and promote our brand across the region. We welcome the development of the retail mall within Garden City as this is an area that has been massively underserved by retail services and is now set to benefit from the arrival of many renowned international and local brands.”

Garden City will integrate best practice in engineering, construction, landscape architecture, and community facilities. The project will include over 15 catering units, a cinema, an exhibition hall, an events arena, and a children’s play area within a 3-acre central park. Construction is expected to begin in the second quarter of 2013 and to be completed in time for Christmas 2014. A residential scheme, including 420 apartments and townhouses, will be developed following the launch of the retail centre.

NSSF integration of new Information Technology solution

Social security provider, National Social Security Fund (NSSF) has stepped up its corporate transformation efforts with the  integration of a new Information Technology solution to boost its organizational efficiency.

As part of NSSF’s strategic efforts to streamline its operations, the Fund has activated a new Kshs 300 million SAP Enterprise Resource Planning (ERP) solution to facilitate real time management across its core business functions. Speaking in Nairobi, NSSF Managing Trustee Mr. Tom Odongo confirmed that the new SAP ERP has been activated at the fund’s head office and is progressively being rolled out across its branch network countrywide.

Among other benefits, the new ERP system is expected to play a key role in the realization of NSSF’s pledge to reduce its member benefits payout turnaround time less than five working days. The new SAP ERP platform while providing an overall picture on the Fund’s performance, Odongo said will significantly help in raising integrity and plugging organizational leakages.

The new system he added will also play a key role in helping cut the Fund’s administrative costs as it gears up for its corporate conversion into a Social Security (Pension) or (social insurance) Scheme. Coming hot on the Fund’s recent re-branding exercise, Odongo confirmed that NSSF will continue to pursue a variety of business process improvements to complement its new brand.

With the activation of the new SAP ERP system, NSSF now will manage to efficiently deal with business challenges in areas such as Finance, Human Resource Management and its core Operational functions such as Tenant Purchase Scheme Management, members funds management, projects and fleet management.

“NSSF is a Fund valued at more than Kshs 116 billion and cannot afford to continue operating using inefficient and sometime obsolete accounting information systems,” Odongo explained. He added: “by migrating from our manual systems to an enterprise wide ERP system, we are now making a historical shift from the inefficient NSSF of yesteryear to a modern NSSF which provides value to its members through centralised modern IT systems.”

Among other benefits, the new SAP ERP system will allow NSSF to track its costs and monitor operations to produce real time financial statements that can be presented to government, banks or other stakeholders.

The system will also ensure that budget allocations are strictly maintained and business transactions are managed according to the allocated budget.

Within the human resource framework, NSSF staff will enjoy a range of benefits including online access to their payslips that now reduces the need to print out such documents for the 1600 workforce strong fund.

Incorporating a Real Estate Management feature, the new ERP system also provides NSSF with a platform to manage all its Real estate property including investment property by tracking rented office space as well as houses under the Tenant Purchase Scheme.  

Mr. Odongo also thanked His Excellency the President and Commander in Chief of the Defence Forces of the Republic of Kenya Hon. Mwai Kibaki for awarding him an honour of Elder of the Order of the Burning Spear (EBS) on Jamhuri Day, 12th December 2012.

Toyota Kenya Limited unveils Ksh2.5million sponsorship for Kenya Open Golf

Leading motor distributor Toyota Kenya Limited (TKL) has unveiled a Kshs 2.5million sponsorship package to the Kenya Open Golf Limited (KOGL) for the administration of this year’s Barclays Kenya Open tournament scheduled to begin on 14^th February 2013. Additionally, the firm presented a Toyota Prado TXL valued at USD 98,000 as an award for the first professional player to obtain a hole in one at the 5th hole, of the celebrated golf tournament.
Toyota who have been a sponsor of the prestigious Golf Tournament for the last four years were pleased to re-affirm their commitment, a sentiment shared by Dennis Awori, Chairman of Toyota Kenya while handing over the sponsorship cheque;
“Toyota is pleased to be associated with the golf tournament for the last four years. Through our contribution to this tournament we hope to raise the profile of Golf in Kenya, a task that can only be achieved through continued support of KOGL in their efforts to deliver a world class championship.” Mr. Awori said.
The Director of KOGL, Ms Kathleen Kihanya on receiving this sponsorship said, “We are proud to have Toyota Kenya on board with this sponsorship. The success of Barclay's Kenya Open would not be achieved without the support received from the large local base of corporate sponsors. We hope to see one of our local players not only leave the Karen Club with the Championship, but hopefully he will do so in a brand new Toyota Prado TXL.”
With two weeks to tee off, the tournament has reached the penultimate stage of planning, with organizers and tournament officials putting on the final touches on what promises to be a grueling and competitive Barclays Kenya Open 2013. This year, the tournament will once again attract players from around the globe; with competitors expected from the East Africa region, Africa, Europe, the Americas and Asia.
Most notably, the Tournament has seen a shift to the Karen Country Club one of the oldest Golf clubs in the country, from the Muthaiga Golf Club which had been home to the annual Golf Tournament. Aside from the rich history, Karen also plays host to one of the finest and spectacular Golf courses on the continent, a fact that will make for truly exciting Golf.

Family Bank goes live on PesaPoint network countrywide

 - as bank becomes 5^th in Kenya to fully share ATM infrastructure

PesaPoint has today announced that Family Bank’s services have gone live across its over 1000 ATMs and agent banking outlets across the country. Effectively, the bank’s customers will now be able to access their cash at a PesaPoint ATM nearby and PesaPoint branded ATMs and agents countrywide.

PesaPoint also announced that Family Bank’s own ATMs had been opened up for sharing and for use by all PesaPoint partner bank customers, following completion of a project to hook the bank onto the new PesaPoint Interconnect engine. This development also now opens the bank’s infrastructure for use by any cardholder in Kenya, a move that will boost the bank’s non-interest revenue.

 “I am delighted to announce that we at Family Bank have successfully opened up our ATMs for use by all cardholders in Kenya through the PesaPoint Interconnect engine,” said CEO, Peter Munyiri. “Customers from other banks will be able to use our ATMs while our customers can also access services at all PesaPoint ATMs, PesaPoint Agents countrywide and at all other ATMs belonging to banks that have a ‘PesaPoint available here’ logo on them,” he added.  Family Bank’s 120 ATMS will also be available to serve cardholders from all 30 PesaPoint partner banks.

Bernard Matthewman-Chief Executive Officer of the Paynet Group which PesaPoint belongs to- praised the decision by Family Bank in tapping the power of PesaPoint and opening up its ATMs to serve all cardholders in Kenya as “strategy in the right direction” that will provide immediate benefits to the bank.  “It will contribute to further growth of the bank’s non-interest revenue. We are happy to welcome Family Bank to the rapidly growing PesaPoint Interconnect network,” he said.

The PesaPoint network will further give the shared ATMs power to perform Mobile Money ATM Withdrawal transactions for M-PESA customers through agent number 555 555.

Family Bank becomes the 5^th Kenyan bank in Kenya, after KCB, DTB, NIC and CfC Stanbic to wholly share its ATM infrastructure through the new PesaPoint Interconnect engine and deliver what Mr. Munyiri called “borderless ATM services”. “We want to lead the way for other banks in giving Kenyans ATM and cash access points that serve any customer regardless which bank issued their cards and at reasonable fees,” he said.

Mr Munyiri noted that Kenyans have been paying heavily each time they use ATMs belonging to other banks as their transaction were routed through costly international card networks noting that sharing Family Bank’s ATMs would help correct this. “The PesaPoint Interconnect engine is a local financial network that is enabling the interconnectedness of ATMs and agents, thereby helping deliver low cost transactions at the ATMs for cardholders from other banks, who will use our ATMs.”

Infrastructure sharing to benefit Kenyan cardholder

Kenya Bankers Association has recently been calling on banks to share their ATM infrastructure to increase convenience to Kenyans, noting that ATMs piled together at shopping malls around the city were proving unprofitable.

“Installing multiple ATMs from different banks side by side at a single location as we often see in local shopping malls is becoming self defeating as the volumes become spread over too many acquiring points, raising the effective cost per transaction. On the other hand, interconnecting infrastructure allows placement of ATMs and Agents in more strategic ways and leads to overall efficiency,” says Bernard Matthewman.

Mr. Matthewman and Mr. Munyiri urged more banks in Kenya to open up their ATM infrastructure for sharing, noting that this at the end benefits the customer.  “Banks are realizing that a go-it-alone strategy is not paying the right levels of dividend. Those with large investments in infrastructure can leverage this by opening access to the national card base and those that have a few do not have to invest further to attempt to catch up,” Mr Matthewman said.

Anyone who holds a card issued by about 30 PesaPoint partner banks in Kenya can use any ATM that has a PesaPoint logo on it, while only incurring PesaPoint transaction fees as set by their own bank, he said.

Bernard Matthewman, CEO of the Paynet Group which PesaPoint belongs to, exchange documents during the signing of a deal that enable Family Bank issue its customers with EMV Visa chip and PIN cards. 

In the recent past, Family Bank has been making strategic investments in technology and innovation, overhauling its core banking system, redesigning ATM infrastructure and enabling Mobile and Internet banking, as it positions itself to serve an increased customer base and support planned regional expansion. A mid to long term goal of listing a competitive Family Bank at  the Nairobi Securities Exchange (NSE) have seen it reorganize its shareholding and float 40 million shares in a successful rights issue, raising Ksh 1.3 Billion shilling from existing pool of shareholders to finance the  positioning strategy.

Paynet Group’s card processing, channel management and PesaPoint payment infrastructure are relied upon by more than 40 banks and financial institutions in the East Africa region. Paynet Group composes of Paynet, Electronic Financial Technologies Limited (EFT) and PesaPoint. 

PesaPoint Kenya’s largest third party ATM network accepts all major cards globally thanks to acquiring and issuing agreements with Visa®, MasterCard®, Japan Card (JCB®), Senator®, American Express® among other members of the international card associations. In 2007, the electronic-banking services company developed the first Mobile Money ATM Withdrawal interface for M-Pesa, that was approved by Vodafone assigned the agent number 555 555, effectively launching the first card-less ATM mobile money withdrawal service in the world. The service has now been integrated in the new PesaPoint Interconnect engine for inter-bank ATM sharing in Kenya, and is enabling the availability of M-Pesa and other mobile money services on other banks’ ATMs networks.

PesaPoint new infrastructure sharing engine, PesaPoint Interconnect, leverages on existing agreements with banks and international card companies and Paynet Group’s payments switch to enable banks to open up their ATMs to serve all cardholders regardless of who the card issuer is and at low fees determined by cardholders banks. 

MasterCard and Equity Bank Announce Partnership to Introduce PayPass™ Enabled Debit and Prepaid Cards in Kenya

Partnership to increase financial inclusion and boost EMV migration efforts in the region

MasterCard and Equity Bank of Kenya today announced an agreement at a signing ceremony in Nairobi to issue five-million MasterCard-branded debit and prepaid cards.  This program empowers African consumers to use electronic payments which provide a safe and secure way to pay versus cash and other forms of payment.

As a result of the partnership, MasterCard debit and prepaid cards with chip-enabled technology will be issued, first into the Kenyan market and then extended into Uganda, Tanzania, Rwanda, and South Sudan, signaling the largest rollout of EMV payment cards in sub-Saharan Africa to date. The cards will also introduce MasterCard PayPass™ with the first ever installation of PayPass enabled point of sale terminals across the region. 

The suite of products that will be made available in the East African region will include Mobile Point of Sale (MPOS) technology which allows merchants to receive payments via low cost add-ons linked to secure applications on their mobile devices (such as a smart phone or tablet). This technology will extend the security and convenience of electronic payments to merchants and their customers who previously depended on cash to transact.

“MasterCard is committed to extending financial inclusion across East Africa and the rest of the continent, introducing the unbanked and under-banked to the benefits of electronic payments”, said Ajay Banga, MasterCard President and CEO. “Our vision of a world beyond cash is only achievable through collaborations with industry stakeholders, such as the Equity Bank partnership.

“Working together with governments, financial institutions, merchants and businesses, together we will be able to help modernize the payment industry and assist East Africa reach its full potential as a financial power-house competing on a global platform,” Banga concluded.

According to the Finscope Rwanda 2012 survey, financial exclusion in Kenya, Uganda, Tanzania and Rwanda stands at 33%, 30%, 56% and 28.1% respectively, indicating the opportunity for both Equity Bank and MasterCard to extend financial inclusion to those previously not exposed to the benefits of electronic payment solutions.

Dr. James Mwangi, Group CEO, Equity Bank commented, “In line with our vision of championing the social economic prosperity of our people, we will continue to execute strategic partnerships that will broaden financial access and deepen inclusion in the region. Our commitment is to continue innovating financial products and services that give our customers the freedom of modern banking while supporting their social economic dreams. We will continue to align our financial intermediation with national strategies in every market we operate. The partnership with MasterCard will help to solidify our position as one of the leading banks in East Africa.” He added, “We have chosen MasterCard as our partner due to the fact that we have a shared vision of an East Africa that is more financially inclusive for all its citizens and less dependent on cash.  Cardholders will be able to use their MasterCard PayPass debit or prepaid cards at any location that accepts MasterCard worldwide,” Dr. Mwangi concluded.  Globally, PayPass is present in 48 countries and accepted at nearly 550,000 merchant locations.Equity Bank’s investment in a robust IT platform continues to pay dividends as the Bank ventures into strategic partnerships such as this with a view to becoming a one stop shop for financial services in the region.  The Bank runs on a Global Robust State of the Art Information Technology Computer System supported by Infosys, HP, Oracle and Microsoft.  The multi-currency, multi-company, multi- country system has a capacity of 35 million accounts and a processing speed of 300,000 transactions per minute.  This system is supported by Way4, an online Card Management System which has multi-institution and multi-currency transaction processing capability and has the ability to handle over 60 million cards with speed performance of 180,000 transactions per minute.

The Bank operates on the EMV (Europay-MasterCard-VISA) technology in its Automated Teller Machines (ATMs) outlets and point of sales (POS) as well as at Equity agency locations. The Robust System is backed by a comprehensive Business Continuity and Disaster Recovery System.

 “We shall continue to strengthen our business model through innovation, enhanced use of technology and automation for a better customer experience,” said Dr. Mwangi.

The partnership between MasterCard and Equity Bank is part of the payments solutions provider’s goal of  increasing its business in the region by providing added value to more customers, while at the same time encouraging the uptake of cashless transactions in the region as envisioned in its pursuit of a cashless global economy.

Summit to highlight enterprise mobility as an increasing trend in South Africa's ICT sector

The 4th annual IT Leaders Africa Summit will be held in South Africa's city of gold, Johannesburg from 14 to 15 March 2013. The summit is hosted and produced by international business-to-business conferencing company, Kinetic Events. The IT Leaders Summit series is hosted in strategic locations all over the world including Johannesburg, Dubai, Ghana, Cape Town and Nairobi. The series hosts over 150 CIOs and senior IT executives representing leading companies from the respective regions.

South Africa, Republic of, Jan, 2013 - Enterprise mobility enables the enterprise workforce to gain instant access to corporate information through mobile applications anywhere and at any time. Enterprises are fundamentally changing the way they operate business processes, and in order to remain competitive, organisations are forced to make enterprise applications easily accessible through mobile devices. South Africa is known as one of the fastest growing mobile communications markets in the world and telecommunications is one of the fastest growing sectors within South Africa's economy. Driven by the rapid growth in mobile and broadband connectivity in recent years, South Africa boasts a network that is reportedly 99.9% digital.

According to a recently released report reveals the target of 30% growth of mobile application deployments per year. Devices for the enterprise have continued to greatly impact the contemporary business world through new technologies and services that could potentially improve productivity and communication in the industry. Improved mobile productivity resulting from improved mobile access to enterprise software and information could result in a greater ROI for the enterprise investing in mobile communications, resulting in the enterprise seeing overall improved sales and communication.

With the enterprise allowing employees access to mobile, instant communication and access to corporate information, enterprise mobility vastly improves productivity through providing the information as and when it is required. The continual increase of companies moving to the mobile applications to further improve work productivity, it's essential to evolve your enterprise into the next generation of technological advancements available to the industry.

The majority of enterprises are looking to mobility for cost savings, responding to employee demand. The next generation in enterprise computing has arrived, and the industry-wide focus is on mobile-centric solutions. Locally, about 60% of South Africans experience the Internet on a mobile device. The increase in mobility in our personal lives is a concept that organisations must embrace to experience the full calibre of benefits to the business. Enterprise mobility will have the ability to provide instant access to information through mobile applications, anywhere, anytime.

The IT Leaders Africa Summit is set to address issues and challenges associated with BYOD security, enabling IT to provide detailed security requirements for each individual personal device used in the workplace and connected to the corporate network. Solutions and tactics to be discussed will include configured networks with passwords prohibiting certain applications from being installed on the device or requiring all data on the device to be encrypted. Other BYOD security policy initiatives to be addressed will also include possibly limiting activities that employees are allowed to perform on these devices at the work place.

The propagation of mobile technology is fundamentally changing the way corporate do business, engage with the world around them and communicate. The evolution of the mobile practice in internet technology has led to the IT restructuring and the introduction of bring your own device (BYOD) networks within the enterprise. The summit will address inherent security and infrastructural issues and challenges that these networks pose to South African and African businesses and business practices, and what the effects on the growth of business applications and mobile business will have on traditional industries including finance, banking and retail.

The IT Leaders Africa Summit provides an exclusive business-to-business platform to share, network and engage in a focused interactive environment with IT industry peers, senior executives, government officials, senior decision makers, IT leaders and international guests. The summit aims to address information technology and communications challenges, operational excellence, and technological advancements impacting the enterprise with strategic guidance and actionable tactics. Africa's IT industry will discover efficient methods to deliver IT projects and services, resulting in business growth and innovation, and successfully leveraging existing resources and investments.

Ericsson appoints new head of sub-Saharan Africa region

·         Effective April 1, 2013, Fredrik Jejdling is appointed Head of Region sub-Saharan Africa. Jejdling will remain member of the Global Leadership Team (GLT).

·         Fredrik is currently Head of Region India, a successor to Fredrik in his current role will be announced separately.

      ·         Fredrik succeeds Lars Lindén who has been part of successfully extending Ericsson’s footprint in Sub-Saharan region

Ericsson has today announced the appointment of Fredrik Jejdling as Head of the Sub-Saharan Africa Region with effect from April 1, 2013. Ericsson President and CEO Hans Vestberg said: “Under Fredrik’s leadership Ericsson has extended its strong position as the partner of choice for operators set to capture market opportunities as India continues its strong mobile data development.  Sub-Saharan Africa is now facing similar exciting developments and Fredrik will bring his broad experience to further develop Ericsson’s offering and support to the region. 

Prior to taking on the role as Head of Region India in June 2011, Fredrik held several key positions in Ericsson including Head of Engagement Practices with responsibility for customer engagements within the region India (from August 2010 till end of May 2011). Between April 2008 and July 2010, Jejdling was Head of Sales & Finance, Business Unit Global Services 

Fredrik succeeds Lars Lindén who has been part of extending Ericsson’s footprint in the region. 

Hans Vestberg said: “With a vast experience and strong business acumen Lars has been instrumental in the work to extend Ericsson’s footprint in the region. During the past years Ericsson has for instance taken the world’s largest multi-country managed services deal, been part of introducing LTE to several key markets in Africa as well as signing the first multi-country m-commerce deal. A successor to Fredrik in his current role as Head of Region India will be announced separately. Lars Lindéns new role will also be announced separately.

Nokia Asha 205 Dual SIM now available in East Africa

Latest Asha device comes with a dedicated Facebook and exclusive multimedia sharing feature, Slam

 Nokia today announced that the Nokia Asha 205 Dual SIM, is now available for purchase in East Africa. Nokia’s most affordable QWERTY phone is the newest addition to the Asha range and is the only Nokia device to feature a dedicated Facebook button, making it perfect for highly social consumers who want the fastest access to their Facebook profile. Combined with eBuddy Chat, Twitter and support for popular email accounts such as Gmail, the Nokia Asha 205 Dual SIM is designed to ensure that people are never more than a few clicks away from their social networks.

This latest addition to the Asha range is available in a range of eye-catching colours such as Orange, Cyan and Magenta* at selected retail outlets across Kenya, Uganda and Tanzania. Estimated retail prices: 

Kenya – KSH 5,499

Uganda – UGX 215,000

Tanzania – TSH 120,000

The Nokia Asha 205 Dual SIM is also one of the first devices to feature Nokia’s exclusive Slam feature. Slam allows consumers to share multimedia content like photos and videos with nearby friends almost instantly. Slam works with most Bluetooth-enabled mobile phones without the need to pair devices, and without the recipient needing to also have Slam**. In just a few clicks, people can ‘Slam’ their content to another device faster than with Bluetooth alone and without consuming Internet data.

“The Nokia Asha 205 with QWERTY keyboard and dedicated Facebook button is perfect for the vibrant youth market in East Africa,” says Bruce Howe, General Manager for Nokia East Africa. “Recent reports from Social Bakers indicate that there are now almost 3.3 Million Facebook users in Kenya, Uganda and Tanzania, and the majority of these are between the ages of 18-24. In Kenya alone, Facebook users grew by over 30% in the last 6 months, highlighting the importance of making Facebook access seamless”.

Other key features of the Nokia Asha 205 Dual SIM include:

·         eBuddy screen notifications that keep users up-to-the-minute on new conversations

·         A comprehensive mobile entertainment package, including 40 free EA Games available for download, along with tens of thousands of other apps available from the Nokia Store

·         Nokia’s exclusive Easy Swap technology that enables consumers to change SIM cards without having to turn off the device

·         The Nokia Asha 205 Dual SIM phone remembers the settings of up to five SIM cards making it easy to switch between making calls or using the Internet

·         Great standby time: up to 25 days

The new device takes full advantage of the Nokia Xpress Internet platform, which uses Nokia's cloud technology to reduce data consumption by up to 90%, helping consumers enjoy more affordable Internet access. It also features Nokia Nearby, a web app that helps consumers discover points of interest such as restaurants, shopping and ATM close to their location.

*Phone colours may vary by country

**’Slam’ currently not compatible with iOS and Windows Phone devices

Thika Greens golf estate reap more than twice investment capital

Plot and home owners at Thika Greens are reaping over 30 per cent in capital appreciation and eyeing a constant 20 per cent annual growth in returns driven by the surge of both buyers and investors interested to gain from the completed Thika Superhighway and the estate’s lifestyle offering. The estate’s results outstrip the national averages in real estate returns, and give hope for the rise of the sector after slow growth following high interest rates, a weak shilling and the forthcoming Kenyan general elections.

 “Some of the serviced plots sold six months ago are now worth 1.5 times their buying prices and we expect the return to rise rapidly as the project infrastructure and golf-course is completed before the end of the first quarter 2013,” said Mr. Charles Kibiru, Co-founder and CEO, Thika Greens Limited.

The developer observed that the close to double capital value has also been driven by increased interest in affordable luxury living and the unique lifestyle integrated in Thika’s first golf city.

Thika Greens golf city houses an 18-hole championship golf course, private members’ clubhouse that is also open to non-residents, five and three star hotels, an office park, a world class shopping mall, community centre, retirement village, schools, a hospital and a police station.

In June 2012, the annual Wealth Report published by Citi Private Bank and global real estate managers Knight Frank, reported that luxury homes in Nairobi and the Kenyan coast were the best-performing prime residential property markets in the world.

Compared to other well-known global locales, Nairobi and the Kenyan coastal towns experienced the highest rise in property prices in 2011 globally. According to Knight Frank’s tracking Prime International Residential Index (PIRI), out of the 71 best prime residential property locations surveyed, Nairobi recorded the highest growth with a 25 per cent increase for high-end residential properties. The Kenyan coastal resort towns came second with a 20 per cent increase.

This makes Thika Greens a world leader based on its current track in capital appreciation.

“Thika Greens has generated high interest from local investors, first home owners and Kenyans in the diaspora and this is driving our sales” said Mr. Kibiru. “This demand is leading to the appreciation and our very first buyers are the biggest beneficiaries.”

In three years, the development, in three phases, has recorded unique progress, running ahead of its original schedule, with 960 plots in phase one now sold out, 45 per cent of phase two sold and 60 per cent of phase three sold.

 “We offer home buyers a serene, luxurious and secure environment as we help actualise the social pillar of Vision 2030 to decongest Nairobi city and other urban centres,” said Mr. Kibiru.

Other real estate developments incorporating world class golf courses around the globe have continued to prove that this lifestyle is attractive to buyers, earning high premiums. In the US, golf properties are three times as valuable as the average home, while in the UK, golf homes cost a premium of 56 per cent more.

 “Eighty per cent of people buying the plots are not golf players but assert that their buying decision was primarily influenced by the existence of a championship Golf Course that considerably improves the value of their purchase,” said Mr. Kibiru. “With this growing interest we promise continued appreciations of over 50 per cent in three years 

“I bought my plot with inbuilt infrastructure like roads, water piping and  security systems two years ago and it’s now worth 1.5 times the buying price,” said Steven Njoroge, buyer at Thika Greens. “This means that after constructing, the property itself is set to be worth more than two times my initial capital investment.”

The development is expected to deliver up to 4,000 new homes in a fast growing locality within Thika Municipality and result in value creation of close to Sh60 billion thus providing a significant boost to the local economy.

Sales of the development began in 2009, with the focus in the last 2 years on infrastructure and amenities that are now catalyzing home constructions on the site. Some 34km of water piping and 22km of road have already been completed in phase 1 alone, while 68 per cent of roads have already been constructed in phase 2.

 “Thirty-two self-build houses are currently under construction and our architects are already working with even more plot owners, most of whom are set to begin building. We expect by the end of 2013, 300 constructions will be ongoing,” said Mr. Kibiru.

The shaping of its 307-acre, 18-hole championship golf course has been completed and the grass planted on holes 1,2, 8,9 & 10 and 1 will be making the first grass cut any time. ‘The first 9 holes have been fully planted and will be ready for play by April 2013. The club house will also be ready for use,” said Mr. Kibiru.

Thika Greens development is a controlled development along Thika Super Highway that aims to develop three unique gated residential communities. It was incorporated on 29th December 2008, on some 1,706 acres of land in the outskirt of Nairobi, but within the 100km radius of Nairobi’s metropolitan boundary.

Nakumatt unveils private label to boost local industries

…branded as ‘Blue Label’ to reflect quality, value and reliability

Regional retailer Nakumatt Holdings has extended a much-needed lifeline for local consumer products manufacturers’ with the launch of a range of retail products under its private label.

The products, which will be progressively introduced on Nakumatt Shelves and branded as Nakumatt Blue Label, are geared at providing the retailer’s shoppers with a range of quality, value for money products.

Benchmarked, against leading brands in the respective categories, all Nakumatt Blue Label products are priced fairly to provide more value for money to shoppers. The products are distinctively branded with an iconic blue band to reflect Nakumatt’s commitment to deliver quality and reliable products.

The range of products developed following a 12 month Research and Development (R&D) process by the retailer are manufactured in full compliance to local quality standards as outlined by the Kenya Bureau of Standards (KEBS).

Already, Nakumatt Blue Label products including: Household Cleaners (Bleach, Scouring Powder, Disinfectants, Window and tile cleaners), Sugar, Wheat flour (home baking, self-raising, whole meal and Atta), maize flour and selected grains are now available on Nakumatt shelves regionally.

Nakumatt Holdings, Managing Director Mr Atul Shah, speaking when he confirmed the introduction of the Nakumatt Blue Label range of products, said that the firm’s Kshs 200million venture into private label brands would be driven through a contract-manufacturing model.

The manufacturers retained by Nakumatt have been selected from a panel of Industrialists with proven experience in contract manufacturing for multinational and local Fast Moving Consumer Goods (FMCG) marketers.

Riding on a 'Trusted Quality at Real Value' brand promise, Shah explained that Nakumatt has fast tracked the launch of its private label products as part of a commitment to support local industrialization efforts while providing a lifeline for local manufacturers.

“As a regional retailer, we have in the last few years watched helplessly as local manufacturers’ are driven out of business through rising imports of hitherto locally produced goods due to the overall high cost of production for most multinationals locally,” Shah explained.

In addition, “In the spirit of aligning our corporate goals to Vision 2030 ideals, we are keen to develop a wide range of Nakumatt Blue Label products locally manufactured and benchmarked against global standards.”

The Nakumatt Team Leader further assured that the firm will strictly monitor adherence to quality standards and proper manufacturing processes using local and international quality audit firms.

Compared to industrial giants such as Egypt and South Africa, Kenyan leading multinational manufacturers have been forced to cut their local production preferring to import finished products due to the high cost of local production.

The move by multinational firms to suspend local manufacturing has in turn occasioned job losses and stagnated industrial growth.

However, with the launch of Nakumatt Blue Label products, Nakumatt Holdings is strategically reaching out to local small and large manufacturers providing them with an alternative opportunity to manufacture and retail quality products under its brand name.

“At Nakumatt, we consider this to be a win-win opportunity for local manufactures to raise their production capacities while extending quality, value for money products to our discerning customers,” shah pointed out.

In coming months, Nakumatt also plans to unveil a line of spring water, ready to eat snacks, detergents and spices among many other products under its Nakumatt Blue Label brand.

Nakumatt, is also in talks with a number of Ugandan, Rwandan and Tanzanian manufacturers to provide a regional manufacturing and retail platform for products’ from the East Africa region including Rwandan coffee.

Nakumatt, Shah further disclosed will also be venturing into specialty cosmetic sales and lifestyle sales for global brands such as Revlon, Skechers and Clarks footwear.

Globally, leading retailers are increasingly venturing into private label sales that account for more than 20% of their retail sales as value-seeking consumers increasingly continue to cast their brand preference nets wider.

International retailers such as Wal-Mart and Tesco are estimated to be stocking about 40% and 50% of private brands in their respective stores.

 

  Nakumatt Mega Branch Manager Sammy Mulei (left) and Nakumatt Holdings Group Business Development Manager Neel Shah inspecting a pack of Nakumatt Blue Label Cowpeas. Nakumatt Holdings has embarked on a pilot project to introduce the range of Nakumatt Blue Label products as part of a strategy to develop a comprehensive range of private label products.

Money & Markets - Kenya: Verifying Back-End Calls from Android Apps | Andro...

Money & Markets - Kenya: Verifying Back-End Calls from Android Apps | Andro...: Verifying Back-End Calls from Android Apps | Android Developers Blog

Verifying Back-End Calls from Android Apps | Android Developers Blog

Verifying Back-End Calls from Android Apps | Android Developers Blog