Standard Chartered named Best Foreign bank in Kenya

Standard Chartered Bank Kenyan Limited, a subsidiary of Standard Chartered Bank PLC, has been named the Best Foreign Bank in Kenya for the year 2012 in the annual EMEA Finance magazine awards.

The bank won the accolade for its client focus and steady management, continued profitability, delivery of credit to the retail and wholesale markets, and supporting local and transnational corporations do business.

Standard Chartered Bank Kenya, Chief Executive Officer Richard Etemesi, said that this recognition was an excellent reflection of the Bank’s strategy of sticking to the basics of banking and delivering on its promise to customers, shareholders, regulators and the community.

“I am delighted that we have won this prestigious award. This is a tribute to the hard work and dedication of our teams across the country and the region. Standard Chartered uniquely combines international expertise and capabilities with deep-rooted local experience, enabling us to deliver market-leading solutions to our customers and clients across Africa. This award demonstrates our huge contribution to the sustainable development of the financial markets in Africa,” he said.

 

Etemesi said that the bank had over the last few years,  pursued a focused agenda.

“We set ourselves ambitious performance goals and have consistently delivered against them. We are therefore very excited by this recognition from EMEA Finance magazine as it is a testament of our dedication to offer unmatched banking services in Kenya.

 

Our focus to doing business in Kenya has always been to build a sustainable business through ethical businesses practices. We had a record year in 2011 and an even better first half performance in 2012, with record growth in income and revenue. Our business held steady against a macro-economic environment that is increasingly challenged,” said Etemesi.

 

Set against a macro-economic environment that is increasingly challenged, Standard Chartered Bank  continued to deliver consistent good returns to its shareholders as a result of a right strategy, a distinctive culture and a strong brand.

 

“We are focused on delivering for our shareholders, supporting our customers and clients, and making a positive impact on the communities in which we live and work. We are well positioned in some of the fastest-growing segments of our economy. As a Bank, we will continue to benefit from our deep client relationships, our network and a well-capitalized balance sheet,” added Etemesi.

 

Standard Chartered Bank PLC was also named the Best Foreign bank in Ghana, Tanzania, and Zimbabwe and was voted the best overall bank in Uganda for the fourth year.

The prestigious EMEA Finance magazine awards are globally recognized accolades which celebrate and recognize exemplary performances in the financial sector.

 

 

 

 

TOSHIBA REPOSITIONS ITS KENYAN STRATEGY

 

…Japanese company eyes larger share of East African market with Kenya as hub 

 

Toshiba, a world leader and innovator in pioneering business computing solutions and digital consumer products, has reinforced its commitment to the Kenyan market through a fresh outlook involving regional representation and increased market presence in the Kenyan market and the East African region at large.

Based in Nairobi, the company intends to further extend its market share as it eyes increased consumer awareness of its products, understanding of the brand and acceptance of one of the leading electronics appliances manufacturer with a rich successful history having been established in 1875.

Briefing journalists and bloggers, Regional Manager Mr. Erick Njuguna said the new marketing strategy will put emphasis on managing relationships for the brands corporate clients, distributors, resellers as well as customers and potential customers.

“The business model will largely remain the same where our appointed distributors who include Mitsumi, Red Dot and the recently appointed Mustek will remain key point of sale contacts. However, we will henceforth  focus more on building and maintaining relationships that promise unrivalled product quality and service delivery,” added Mr. Njuguna.

Already, the strategy has resulted in market activity the company having recently appointed Mustek as a specialist corporate distributor for its R-series and Z-series range of notebook computers.

Toshiba’s R-series of notebooks offer up to 10 hours of battery life for a full day at the office, and they are extremely thin and light as they are manufactured using high-strength composite materials while the Portege Z-series is Toshiba’s super-thin ultrabook that offers high performance power in a lightweight design. The range is as the top of Toshiba’s product offering and provides the ultimate solution for high-flying executives on the go. 

The company is looking at positioning itself as an ICT powerhouse as the country works towards achieving its Vision 2030 goals.

Mr. Njuguna said Toshiba is putting a lot of emphasis on customer care which is part of the company’s overall strategy ensuring customers have a hassle-free time while using their products.

“On-Site warranties offered in the whole East Africa. However, we want to make it better for Toshiba customers – we are currently investigating if a full service centre can be done in East Africa, where they also hold parts on site,” said Mr. Njuguna.

High quality video shooting with excellent zoom capability has never been easier with the launch of the new SD Handycam® camcorder from Sony – the DCR-SX22.

Experiences closer than ever

This latest offering from Sony turns precious moments into lasting memories, with the DCR-SX22 boasting an impressive feature set including a high quality Sony 60x optical zoom lens. With such high-performance zooming capabilities, the latest Handycam® is perfect to capture subjects a distance away such as birds and wildlife, and is perfect for recording the most exhilarating events be it in sports or at intimate family occasions.

Magnify your experience further with the new 70x extended zoom feature. Thanks to a more effective use of the image sensor area, the 60x optical zoom range will become a 70x zoom lens, making that far-to-reach object or subject all the more closer. Different from conventional digital zoom technology, there is almost no visible image degradation thanks to an advanced image processing algorithm, allowing for expansive shooting capabilities from wide to telephoto.

Quality video recording for everyone

With the new SD Handycam® - DCR-SX22 Sony focusses on ensuring your special moments are just like, or even better than you remember them. The DCR-SX22 is not your average camcorder. It is your assurance that whatever you choose to shoot comes out better than a standard video; it comes out as a work of art.

In addition to SteadyShot image stabilisation which easily enables one to capture smooth footage, Intelligent Auto makes the shooting of beautiful images and videos a breeze. Automatic recognition of up to 18 different combinations of scenes and adjustment of the camera settings accordingly make using this new Handycam® a hassle-free experience even for first timers.

To enhance user convenience Face Detection technology automatically detects up to eight faces in a scene, optimising exposure for quality results. Just because you are shooting in the dark does not mean you have to contend with substandard footage. With the integrated LED video light, your subject will be illuminated with a bright and energy efficient LED light, good for up to 1.5 metres – allowing for the seamless capture of videos even in dark environments.

The DCR-SX22 represents Sony’s commitment to helping users easily preserve their most intimate memories for eternity. The DCR-SX22 is currently available in Kenya in Anisuma showrooms and other leading electronics retailers.

 

Reprieve for Cancer Patients as Pharmaceutical Firm Drastically Slashes cost of Medication

Global pharmaceutical firm Pfizer International has announced a 60 per cent drop in the cost of cancer medication in a fresh drive to combat escalating prevalence of the disease.

The price drop will apply to drugs manufactured by the company for treatment of cancer as well as pharmaceutical equipment such as machinery and other testing kits involved.

The company has also donated $200,000 through various non-governmental organizations towards fighting the scourge in Kenya.

The drastic drop in cost of medication is widely expected to translate into increased access to cancer treatment especially among middle and low income households.

While commenting on the development, Pfizer Country Manager for Nigeria and East Africa Region Dr. Enrico Liggeri said the company was also enhancing partnerships with various non-governmental organizations to ensure increased access to medication especially among developing countries.

In Kenya, the company is has partnered with AMPATH in a number of programmes towards this cause.

“Our commitment is to make cancer treatment more accessible. We are doing this through partnerships with various governments, non-governmental organizations and other health sector stakeholders,” said Enrico.

Kenya has in the recent times witnessed rising cases of cancer related deaths some involving high profile members of the society.

The official attributed the rising cases of cancer to poor dietary habits especially those involving solid fats, smoking and lack of physical exercise.

He lauded the Kenyan government for its commitment in preventing cancer adding that this commitment must be matched with long term policy documentation on how the country plans to combat cancer going forward.

According to Prof. Othieno Abinya, an Oncologist and the Kenyatta National Hospital, access to cancer medication in the country is on a steady increase and the latest price drop by Pfizer will go a long way towards this.

“As a country, we do not have sufficient infrastructure to handle the high prevalence of the disease. However in the recent time, concerted efforts by the government and business entities like Pfizer have seen substantial ease of access,” said Dr. Abinya.

He advised that the government moves to decentralize cancer centres from Nairobi to the counties to increase access to medication.

Both Ministers handling health portfolios in Kenya, Prof. Anyang Nyong’o of Medical Services and Beth Mugo of Public Health are Cancer survivors, a situation Dr. Abinyo says could herald a lot of government goodwill in fighting the disease.

Both Dr. Liggeri and Dr. Abinyo advised Kenyans to go for cancer testing reiterating that early detection accounts to over 70 per cent of success in treatment.

“Most cancer cases especially those involving cervix, breast, skin and throat are treatable on early detection. It only becomes a challenge when one goes for treatment long after the disease has spread to unmanageable levels,” said Dr. Abinya.

 

LG OPENS GAME WORLD FOR CONVENIENT ACCESS TO WIDE RANGE OF SMART TV GAMES

LG Electronics (LG) today announced the launch of its new Smart TV game portal, Game World. Anticipating a new era of downloadable casual 3D games, LG developed Game World exclusively for its CINEMA 3D Smart TV lineup. The portal provides a user-friendly way to search, purchase, and play game apps – in both 2D and 3D – through an intuitive interface. Many of the games can be played with LG’s Magic Remote or with any third-party game pad.

“Game World is a wonderful source of games – especially 3D games – which are suitable for everyone,” said Havis Kwon, President and CEO of LG Home Entertainment Company. “Many popular titles will be available along with games developed exclusively for LG CINEMA 3D Smart TVs. By making the most of the capabilities of LG 3D TVs, Game World will allow us to push the boundaries of 3D gaming and expand the market.”

A simplified user experience begins with the main menu, which prominently displays a menu bar listing four categories – Featured, Top Chart, New and Genre – for quick access to the contents. The Featured category comprises some of the hottest games available, including games recommended by LG. Top Chart offers the most popular paid as well as freeware games. The New link lists the most recent games available in Game World while the Genre option gives access to game titles in the following categories: action, adventure, arcade, puzzle, RPG, shooter, simulation, sports, and strategy.

The main menu of Game World also provides a tutorial, with manuals and instructions for playing with a Magic Remote or a game pad. The My Games section links users to all previously purchased games and displays a list of the most frequently played games, making it easy to find the next big hit. The titles available on Game World will consist mainly of family-friendly titles, with most titles being compatible with LG Magic Remote’s gestures and movement capabilities and many also playable in 3D.

Game World will be launched globally in the second half of this year.

Epson to offer support services for its products…

 

Epson East Africa Regional Sales Manager Mukesh Bector (right) shows customers how the Epson L800 printer works during a past event.

Printing and Imaging Solutions Company, Epson is partnering with two local distributors to offer support services to its line of products in Kenya.

The company will work in conjunction with Crescent Technologies and Sai Office Supplies to provide post purchase customer service to its growing customer base in the local market. In this partnership, customers will benefit from Crescent’s newly established service centre in Nairobi’s Westlands and the revamped Sai Office Supplies repair centre in Industrial Area.

The two service centres will provide a full-range of after-sales customer support services, including trouble-shooting, diagnosis and repair. The company is keen to enhance customer experience as it shifts focus towards producing products tailored towards meeting the needs of the African market.

Epson has been aggressively increasing its business presence in the region with introduction of new products since the setting up of the regional hub in Kenya early this year. The company is targeting a 30 percent growth in Africa which is being driven by developing dedicating products for the African market and developing new markets. 

Commenting on the partnership with local distributors, Epson Regional Sales Manager Mukesh Bector said the move was in line with the company’s continuing efforts to bring its products and services closer to customers and ultimately enhance their experience with the Epson brand.  

“This partnership is in line with our continuing efforts to bring our products and services closer to our customers and ultimately enhance their experience. The service centre concept makes it easier for our customers to access professional support services. Our strategic partnership with our retail partners is crucial in the success of this initiative, enhancing our ability to deliver premium-quality services and helping ensure optimum customer satisfaction, which is an integral part of Epson's brand promise,” he said. 

Mukesh said the company had assembled a dedicated team of highly trained engineers who have been deployed at the two service centres to provide free professional advice to customers and conduct on-the-spot repair or replacement services.

Sai Office Supplies Technical Service Manager Dilip Shukla said the service centre is well equipped to handle any repairs and that customers with products under warranty will get free service while those whose warranty has expired will be charged a small fee.

“Our well trained service engineers will ensure that Epson customers coming to the centre receive excellent post purchase service,” he said. 

To take advantage of the services at the Epson Express Service Centre, customers need only bring the printing device with ink cartridges installed, the proof of purchase and warranty details.

NEW HOUSING MORTGAGE PRODUCT TO BOOST HOME OWNERSHIP

Britam has launched a new product targeted at housing mortgage lenders that will see home ownership in Kenya rise significantly in the coming years.

The product, Collateral Replacement Indemnity, allows lenders the opportunity to provide 100 per cent housing loans to their clients.

Speaking during the launch, Britam Group Managing Director Benson Wairegi, said the CRI product will secure the equivalent of the required deposit as against losses incurred from defaulters of sale of mortgaged properties.

 “Many borrowers struggle to come up with the required 30 per cent deposit to secure a mortgage plan. This puts the lender at risk of losses in the event the agreement is defaulted. The CRI product will ensure that the lender is cushioned against such losses,” said Wairegi.

The CRI product allows the lender to remain in an equivalent risk exposure, as it would have with a cash deposit, but enables access to mortgage finance to buyers with affordability, while growing its mortgage advances book.

The Collateral Replacement Indemnity product comes at a time when mortgage uptake in Kenya experienced a significant drop due to increased interest rates as well as inaccessibility to the required deposit by borrowers.

Wairegi said that the CRI product was targeted at borrowers in the middle to lower income mortgage market and borrowers with the affordability to pay a home loan but do not have the deposit required.

“We are making home ownership possible for those who ordinarily would have difficulty acquiring a mortgage plan. We had a vision to provide reprieve from challenges that come along with renting housing properties, “said Wairegi.

The growing economy and consequent rapid urbanization has increased demand for housing in Kenya pushing up the mortgage market from approximately 7,600 homes in 2006 to 20,000 homes in 2012.

Experts have projected that in the coming decades, the interest rates subjected to loans by mortgage lenders will reduce and interest in mortgaged housing facilities will increase, resulting to more demand by borrowers.

South Africa beats BRICS for business expansion ease

 

Business expansion faces fewer constraints in South Africa than in the rival high-growth BRIC economies of Brazil, Russia, India and China, according to a new survey.

The quarterly Grant Thornton International Business Report (IBR), which surveys over 12,000 listed and privately held businesses in 40 economies annually, revealed that while 35% of BRIC businesses experienced shortages in terms of the quantities of orders being placed, this was only the case for 18% of those surveyed in South Africa.

Similarly, 34% of BRIC respondents felt constrained by the prohibitive cost of finance, compared to 17% in South Africa. 29% of businesses in the BRIC nations cited the shortage of access to long-term finance as a barrier to growth compared to 13% in South Africa.
Globally, 22% of business executives experienced difficulty in accessing long-term financing and high costs of finance.

"The South African economy has been insulated from much of the global market turbulence due, in part, to the country’s top ranked audit and accounting standards, a sound banking system, and well-regulated stock exchange," says David Campbell, CEO of Grant Thornton Johannesburg.
Campbell adds that South African businesses should view this local strength as an opportunity to make progress through long-term investments in research and development (R&D) and equipment that will place companies at an advantage once the developed world moves out of this recessionary period.

The IBR research reveals that businesses in the emerging markets lead the way in investing for long-term growth. 45% of businesses in the BRIC countries plan to increase investment in research and development over the next year, compared to just 18% of businesses in the G7. Similarly, 47% of BRIC businesses plan to increase investment in plant & machinery over the next 12 months, compared to 37% in the G7.
He says that regardless of this opportunity, South Africa’s growth will continue to lag behind BRIC nations unless the endemic skills shortage is properly addressed.

Despite South Africa’s relative advantage in some areas, the survey once again identified the lack of a skilled workforce and overregulation and red tape as the two biggest blockages for economic growth in Q2 of 2012.

38% of South African executives said that the skills shortage affected their business (36% BRIC), while 37% believe that overregulation and red tape were hindering growth (36% BRIC). The survey revealed that both South Africa and the BRIC nations are more exposed to these constraints than the rest of the world (Global: 27%).

"With 25% unemployment and a modest 3% projection for growth, there is no ambiguity around the severity of our skills shortage," says Campbell.
Grant Thornton South Africa employs 824 people in offices in the major commercial centres of Cape Town, Durban, East London, Johannesburg, Nelspruit, Port Elizabeth and Pretoria. South Africa is also a major force in the sub-Saharan Africa network, with member firms in Botswana, Guinea, Kenya, Mauritius, Mozambique, Namibia, Senegal, Uganda, Zambia and Zimbabwe.