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IFC announces Sh500m loan to Equity Bank to support Kenyan SMEs during COVID-19

The loan, which will ultimately support hundreds of Kenyan businesses in the manufacturing, health, trade, transport, and consumer goods sectors, is part of IFC’s global $8 billion fast-track COVID-19 facility, announced in March and designed to help businesses maintain operations and jobs during—and after— the COVID-19 crisis.

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Equity Centre.PHOTO/Courtesy.

International Finance Corporation(IFC), a member of the World Bank Group, has announced a Sh500 million loan to Equity Bank Kenya to help it increase working capital and trade-related lending to its small and medium-sized enterprise (SME) clients, especially those facing COVID-19 related challenges.

The loan, which will ultimately support hundreds of Kenyan businesses in the manufacturing, health, trade, transport, and consumer goods sectors, is part of IFC’s global $8 billion fast-track COVID-19 facility, announced in March and designed to help businesses maintain operations and jobs during—and after— the COVID-19 crisis.

Dr. James Mwangi, Equity Group CEO, said, “IFC’s loan, part of our business continuity management plan, will help Equity Bank extend much-needed support to our clients, particularly to SMEs in sectors hit hard by COVID-19. We have purposed to support and walk with them so that they can survive during this crisis, recover, and thrive after it. I call on customers looking to seize emerging opportunities in the health and medical sector to manufacture personal protective equipment (PPE) or support the logistics of the entire ecosystems and value chain to take advantage of the Sh500 million facility.”

Manuel Moses, IFC Country Manager for Kenya, said, “IFC’s longstanding partnership with Equity Bank underscores our commitment to Kenya’s financial sector and wider economy, especially during these difficult economic times. Keeping businesses solvent and protecting jobs are essential parts of IFC’s response to the unprecedented challenges of COVID-19.”

The COVID-19 pandemic has disrupted trade and value chains in Kenya, across Africa, and around the world, affecting commodity prices, reducing foreign financing flows, and collapsing tourism revenues.

Smaller businesses are the life blood of Kenya’s economy, accounting for about 81 percent of employment.

IFC’s portfolio in Kenya stood at $884 million as of June 30, 2020, with investments supporting growth and jobs in the financial, manufacturing, agribusiness, services, infrastructure, and other sectors.

IFC has reiterated commitment to scaling investment and advisory support in Kenya, especially within the context of Kenya’s Big Four Agenda of manufacturing, affordable housing, affordable healthcare, and food security.

 

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Nakuru

Governor Kihika mourns Lawyer Kiplenge

Governor Kihika said Kiplenge will be remembered as a soft-spoken but sharp lawyer who diligently undertook his assignments.

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Juma Kiplenge

Nakuru Governor Susan Kihika has sent a message of condolence to the family, friends and relatives of advocate, Juma Kiplenge.

In her message, Governor Kihika said Kiplenge will be remembered as a soft-spoken but sharp lawyer who diligently undertook his assignments.

“His passing on has robbed Nakuru of a son who purposed to right wrongs and conscientiously represented his clients,” she stated in her message.

She added that the firebrand lawyer will especially be remembered for his role in advocating for the rights of the marginalized Ogiek community.

Juma passed away on Friday, October 7, 2022, while undergoing treatment at a hospital in Nairobi following a short illness.

The body has since been transferred to Umash Funeral Home in Nakuru awaiting burial on Friday, October 14.

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List of newly elected MCAs in Nakuru County

The following are the Nakuru County elected MCAs following the 9th August General elections. The United Democratic Alliance party (UDA) got the most number of seats at 39

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The new County Asssembly of Nakuru chambers

The following are the Nakuru County elected MCAs following the 9th August General elections. The United Democratic Alliance party (UDA) got the most number of seats at 39. The Jubilee party managed 6 seats, while the Safina party won 1 seat. Seven of the MCAs were elected as independent candidates. Out of the 55 elected MCAs, 8 are women.

Naivasha Constituency MCAs 2022

  1. Maiella – Gituku Jane Wanjiru (UDA)
  2. 2. Naivasha East – Stanley Karanja (UDA)
  3. 3. Maai Mahiu – Eliud Kamau Chege (UDA)
  4. 4. Biashara – Elijah Mwaura (UDA)
  5. 5. Viwandani – Mwangi Muraya (UDA)
  6. 6. Lakeview – Alex Mbugua (UDA)
  7. 7. Hellsgate – Virginia Gichanga (Jubilee)
  8. 8. Ol’Karia – Peter Wanjala Palang’a (ODM)

Gilgil Constituency MCAs 2022

  1. 9. Gilgil – Rose Njoroge (UDA)
  2. 10. Malewa – Francis Mungai Kuria (UDA)
  3. 11. Eburru Baruk – Michael Gathanwa (UDA)
  4. 12. Elementaita – George Nene (Safina)
  5. 13. Morendat – Peter Njoroge (UDA)

Subukia Constituency MCAs 2022

  1. 14. Subukia – Isabella Makori (UDA)
  2. 15. Waseges – Elijah Murage (Independent)
  3. 16. Kabazi – George Talam (UDA)

Bahati Constituency MCAs 2022

  1. 17. Bahati – Grace Mwathi (UDA)
  2. 18. Kabatini – Leah Ng’ang’a (Independent)
  3. 19. Kiamaina – Paul Waweru Warege (Ka Wambui) (UDA)
  4. 20. Dundori – James Gathuita Mwangi (UDA)
  5. 21. Lanet Umoja -Mwangi Ngarama (UDA)

Nakuru Town East Constituency MCAs 2022

  1. 22. Nakuru East – Anthony Kamau (UDA)
  2. 23. Menengai – Wilson Mwangi (Jubilee)
  3. 24. Flamingo – David Kihumba Muraya (Independent)
  4. 25. Biashara – Fadhili Msuri (UDA)
  5. 26. Kivumbini – Neto Sakwa Alukutsa (Independent)

Nakuru Town West Constituency MCAs 2022

  1. 27. Rhoda – John Macharia (UDA)
  2. 28. London – Benard Gattuso (Jubilee)
  3. 29. Barut – Ben Kirui (UDA)
  4. 30. Kapkures – Robert Ruto (UDA)
  5. 31. Kaptembwa – Peter Kanjwang’ (ODM)
  6. 32. Shabaab – Macharia Wathiai (UDA)

Rongai Constituency MCAs 2022

  1. 33.Solai – Nixon Morogo (Independent)
  2. 34. Soin – Ellibas Naburuki (Degualle) (UDA)
  3. 35. Mosop – Dr. Alex Lang’at (UDA)
  4. 36. Menengai West – Isaac Kiptisya Rottok (UDA)
  5. 37. Visoi – Hellen Chemutai (UDA)

Njoro Constituency MCAs 2022

  1. 38. Njoro – Hezy Ndung’u (Independent)
  2. 39. Nessuit – Samuel Tonui (UDA)
  3. 40. Mauche – Moses Koros (UDA)
  4. 41. Mau Narok – Cyrus Dida (UDA)
  5. 42. Kihingo – Simon Kamau Karanja (Jubilee)
  6. 43. Lare – Phillip Wanjohi (Jubilee)

Molo Constituency MCAs 2022

  1. 44. Molo – Joseph Ngware (UDA)
  2. 45. Marioshoni – Ben Lang’at (UDA)
  3. 46. Elburgon – David Njuguna (Independent)
  4. 47. Turi – John Mwangi Macharia (Jubilee)

Kuresoi South Constituency MCAs 2022

  1. 48. Keringet – William Mutai (UDA)
  2. 49. Tinet – Paul Lang’at Alvin (Drilit) (UDA)
  3. 51. Kiptangich – Rose Mutai (UDA)
  4. 52. Amalo – Robert Lang’at (UDA)

Kuresoi North Constituency UDA MCA nominees

  1. 53. Sirikwa – Emmanuel Lang’at (UDA)
  2. 54. Kamara – Joseph Kipng’etich (Chemutwet) (UDA)
  3. 55. Kiptororo – Alex Bor (Kipyek) (UDA)

 

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Nakuru to host World Bee Day celebrations

The Apimondia Regional Commission (ARC) President, Mr David Mukomana, in a statement, said the three-day program will include technical tours to see beekeeping within Nakuru County and any other areas, exhibitions, seminars and the actual celebrations.

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Bees on a honey comb

Nakuru City will this year host the Regional World Bee Day (WBD) celebrations from the 18th – to the 20th of May 2022.

The yearly event is commemorated to raise awareness about the importance of bees and other pollinators for humanity in food security, global hunger eradication, and environmental and biodiversity conservation.

Under the theme; “Bee engaged: Celebrating the contribution of bees to the environment, food security and income generation to mankind.”

The forum will share knowledge from across the world, and draw the attention of the public and decision-makers to the importance of protecting bees as well as halting the further loss of biodiversity and degradation of ecosystems following the Paris Agreement.

FAO estimates that bees contribute to the pollination of food worth between $ 235 and $ 580 billion every year and that their decline continues to strain food systems.

Intensive farming practices, excessive use of agrochemicals, habitat loss, and adverse effects of climate among other issues have been identified as key hindrances causing the depopulation of bees and loss of colonies.

With such challenges, there is a need to come up with solutions that are resistive to the increasing bee population globally.

According to FAO, Kenya ranks third in Africa after Tanzania which is the largest producer of honey and produces approximately 31,405 tonnes annually while Angola ranks second producing about 23,500 tonnes annually.

As of 2020, Kenya’s production of honey was at 17,801 tonnes, up from 13,877 tonnes the previous year, this is a change of 28.28%.

Speaking during a past apiculture stakeholders’ workshop, State Department for Livestock Production Principal Secretary, Mr Harry Kimtai, expressed concern that new pests and farm pesticides have hit colonies hard.

“We’re collaborating with devolved units to halt the alarming depletion of bee colonies. Bee colony multiplication initiatives include capacity building, beekeeping equipment distribution, and bee bulking,” revealed PS Kimtai.

Despite the potential of honey production and the benefits of apicultural activity, very little income accrues from the activity.

The government in its progress, in the Big Four Agenda on 100% food and nutrition security, is committed to enhancing honey production from 25,000 tonnes to 38,000 tonnes by the year 2022.

Beekeeping offers an alternative source of livelihood and protects biodiversity and should ideally be established away from human interaction with enough bee forage and all-year-round availability of water to provide favourable conditions for beekeeping.

Nakuru County Executive Committee Member for Agriculture, Livestock and Fisheries, Dr Immaculate Maina, says that, ‘’bees have become increasingly endangered with one million species facing extinction. Thus, beekeeping should be embraced as an alternative environmentally friendly income-earning enterprise.”

‘’We hope that by hosting this event, we will be able to proactively assist in the opening up of our county by giving marketing opportunities and investment prospects in the apiculture industry,” Dr Maina noted.

“We also anticipate important topics discussed during the three-day forum, such as the role of women in the sector as those most affected by climate change, solutions to save our bee species from extinction, and how we can continue to rely on pollinators to save us from the current climate crisis,” she concluded.

Acting CEO of the Apiculture Platform of Kenya (APK), Mr Frederick Otieno Odera, says that beekeeping has significant potential in Africa to improve rural incomes and diversify livelihoods.

“We hope the commemoration of the National World Bee Day will showcase new technologies and sustainable measures from across the world in the apiculture industry and provide sustainable solutions to save our bees in the current climate crisis,” said Otieno.

The Apimondia Regional Commission (ARC) President, Mr David Mukomana, in a statement, said the three-day program will include technical tours to see beekeeping within Nakuru County and any other areas, exhibitions, seminars and the actual celebrations.

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