Connect with us

National

Mt Kenya politicians urged to be united ahead of 2022 polls

He further called on Mt Kenya Senators to be cautious on revenue sharing citing that a win for Mt Kenya counties does not mean a win for communities living in the region.

Please Share

Published

on

Subukia parliamentary aspirant Simon Ngugi

Politicians from the Mt Kenya region have been urged to remain united as they strategize on President Uhuru Kenyatta’s succession.

This follows a meeting by leaders from the region convened at a Murang’a hotel by Interior Principal Secretary Karanja Kibicho on the weekend.

Subukia parliamentary aspirant Simon Ngugi urged the politicians not to gamble with the choice they make on Uhuru’s succession saying this will have a major impact on the region’s development.

Ngugi who addressed the press in Nakuru urged the leaders to align the region with a candidate whom they are assured of support once they get elected.

“Any miscalculation might land the region in the opposition thereby denying it the power to lobby for national government projects. Our leaders must be cautious and with our interests at heart,” said Ngugi.

Deputy President William Ruto is among the presidential hopefuls who have managed to make inroads in the Mt Kenya region.

This has, however, come with opposition from a section of Mt Kenya leaders-Kieleweke faction who do not back his presidential bid.

“Ruto remains a formidable force and a candidate with a head start in acceptance across all regions in the country as President Uhuru’s successor,” he said.

Ngugi faulted the leaders who met on Friday for attempting to put conditions on Ruto for the region to back him saying that it was already late.

“Ruto has already won the hearts of Mt Kenya people who do not need coercion to maintain or change their stand. They should be negotiating to have a bigger say in his government should he win the polls,” said Ngugi.

He further called on Mt Kenya Senators to be cautious on revenue sharing citing that a win for Mt Kenya counties does not mean a win for communities living in the region.

“According to 2019 census, Mt Kenya communities have the highest population. It should however be noted that most of them live outside Central Kenya. Disadvantaging other counties will be disadvantaging their own people living outside the region,” said Ngugi.

He urged them to focus on delivering the Jubilee manifesto-Big Four Agenda saying that continued politicking had derailed the dream.

Ngugi noted that a considerable number of Kenyans are yet to get connected to water and electricity despite promises by the government to connect all households before the next general elections.

He singled out Subukia as one of the marginalized areas on development projects under national government despite it being inhabited by communities from the Mt Kenya region.

On this, he urged the legislators to ensure counties such as Nakuru and Laikipia which are inhabited by Mt Kenya communities but fall outside the Mt Kenya region benefit from the national cake.

Please Share
  • Subukia parliamentary aspirant Simon Ngugi addressing the press at a Nakuru hotel on September 23, 2020. Photo: Courtesy.

  • Subukia parliamentary aspirant Simon Ngugi addressing the press on September 23, 2020 at a Nakuru hotel. Photo: Courtesy.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

National

Equity grows loan book by 30% to support customers and keep the economy lights on

While releasing the results for Q3 2020, Dr. James Mwangi, Group Managing Director and CEO said, “We grew our loan book by 30% year on year in order to support our customers who saw opportunities of green shoots and diversification in the COVID-19 environment. Most of the new opportunities we funded were in manufacturing of PPE’s, logistics, online businesses, agro- processing, fast moving consumer goods and agriculture value chains.”

Please Share

Published

on

Equity Group has reported a 30% growth in its loan book from Kshs 348.9 billion in September 2019 to Kshs 453.9 billion as at 30th September 2020.

While releasing the results for Q3 2020, Dr. James Mwangi, Group Managing Director and CEO said, “We grew our loan book by 30% year on year in order to support our customers who saw opportunities of green shoots and diversification in the COVID-19 environment. Most of the new opportunities we funded were in manufacturing of PPE’s, logistics, online businesses, agro- processing, fast moving consumer goods and agriculture value chains.”

Execution of Equity Group’s twin strategy of being defensive and offensive has proven to be effective despite the challenging environment.

Customer deposits registered a 45% growth from Kshs478 billion to Kshs 691 billion driven by 51% growth in Uganda, 21% growth in Kenya and an additional Kshs130 billion from the acquisition of BCDC in DRC.

Loans to customers grew by 30% driven by 37% growth in Uganda, 19% growth by Equity Bank Congo, 15% growth in Rwanda, 15% growth in Kenya and an additional Kshs 48.5 billion from the acquisition of BCDC in DRC.

The growth in capital weighted loan book and capital geared customer deposits was on the back of a 27% growth in shareholders’ funds following withdrawal of Equity Group Holdings’ 2019 dividend payout.

The balance sheet of the Group grew by 38% from Kshs 677.1 billion to reach Kshs 934 billion.

Regional expansion and business diversification efforts have reduced dependence on Kenya for Group performance making the Group truly a regional financial services provider.

Regional subsidiaries now contribute 40% of customer deposits, 39% of Group total assets, 33% of the loan book, 30% of the Group’s revenue and 25% of the Group’s profit before tax.

On the defensive strategy the Group increased its capital base by 27% to Kshs 137.6 billion from Kshs 108.7 billion to fortify the balance sheet.

The Group’s liquidity position strengthened to 55.7% driven by a 61% growth in cash and cash equivalents and a 34% growth in Government securities.

Maintaining its conservative and prudent approach and in recognition of the challenging operating environment, the Group increased its loan book provision eleven-fold from Kshs1.3 billion to Kshs14.3 billion compared to the same period last year, registering a cost of risk of 4.8% up from 0.8% the corresponding period last year.

To further consolidate liquidity, the Group increased its long-term funding by 7% to Kshs 70.7 billion from Kshs 66.3 billion as shareholders funding grew by 27%.

In its defensive strategy, Equity has worked to support the larger society, communities and customers to weather and mitigate the adverse effects of COVID-19, Equity Group boosted government efforts of containing the pandemic by:

(1)   Waiving fees on mobile banking transactions to discourage the use of cash while incentivizing the use of digital channels;

(2)   Utilizing the expertise of Equity Afia medical team to screen body temperature of customers and staff accessing physical premises including bank branches while supporting COVID-19 health education;

(3)   Leading nationwide initiatives to safeguard frontline health workers through the provision of PPEs and mental wellness and psychosocial support training by the Equity Group Foundation at a cost of Kshs1.3 billion.

(4)   Providing loan repayment accommodation and rescheduling for up to 45% of the customers whose cashflows were deemed likely to be negatively impacted by government set COVID-19 containment measures.

(5)   Supporting staff to cope with the challenges associated with COVID-19 while maintaining a conducive working environment to comply with health protocols and offering choice of working from home were possible.

 

Please Share
Continue Reading

National

Teacher Tabichi awarded 2020 Ahimsa Award in UK

He was chosen for this year’s honour for his work in dramatically improving attendance at his school, reducing levels of local violence and even teaching local communities how to grow crops that can resist famine.

Please Share

Published

on

2019 Global Teacher Prize recipient Peter Tabichi

The 2019 Global Teacher Prize recipient Peter Tabichi has been conferred the 2020 Ahimsa Award by the Trustees of the Institute of Jainology in London.

The Institute of Jainlology (IOJ) represents 32 UK-based Jain organisations in government and inter-religious affairs.

This year’s award was announced at the 18th Jain All Party Parliamentary Group (APPG) Ahimsa Day meeting last month. The award celebrates the Jain tenets of Ahimsa or non-violence and compassion.

He was chosen for this year’s honour for his work in dramatically improving attendance at his school, reducing levels of local violence and even teaching local communities how to grow crops that can resist famine.

“He, Teacher Tabichi, personifies peace, love and compassion in his work with both his students and his community and truly represents the message of Ahimsa,” said IOJ Managing Trustee Dr Mehool Sanghrajka.

Dr Mehoollook said the organization looks forward to seeing his ongoing success as well as being a beacon for teachers and community leaders everywhere.

Teacher Tabichi while virtually accepting the award said Jainology is all about non-violence and compassion, is very dear to my heart as a religious man.

Please Share
Continue Reading

COVID-19

Equity Group Foundation,Kenya COVID-19 Fund Board commence distribution of second consignment of PPEs

The consignment includes 266,000 respirator masks, 2.7 million 3- ply surgical masks, 50,000 reinforced disposable gowns, 2 million pairs of nitrile gloves, 60,000 pairs of medical scrubs, 50,000 coveralls with shoe covers, 300,000 head covers, 55,000 face shields, 34,000 pairs of goggles and 200,000 disposable aprons.

Please Share

Published

on

Dr.James Mwangi(Chair Health Committee COVID-19 Fund Board) and Phyllis Wakiaga (Procurement Committee Chair) officially handover PPEs to Mathari National Teaching and Referral Hospital Med Sup Dr.Joseph Jumba at a past function.PHOTO/Courtesy.

Equity Group Foundation and the Kenya COVID-19 Fund Board have commenced the distribution of the second consignment of locally manufactured personal protective equipment (PPE) to public hospitals across all 47 counties.

All final year medical and dental students from 11 universities with medical and dental schools will also benefit.

This is part of its  sustained efforts to protect medics from the COVID-19 virus.

The consignment includes 266,000 respirator masks, 2.7 million 3- ply surgical masks, 50,000 reinforced disposable gowns, 2 million pairs of nitrile gloves, 60,000 pairs of medical scrubs, 50,000 coveralls with shoe covers, 300,000 head covers, 55,000 face shields, 34,000 pairs of goggles and 200,000 disposable aprons.

The consignment worth Ksh 125M will be  distributed to public hospitals.

While the consignment designated for final year medical and dental students is valued at Kshs 10M, bringing the total value of the consignment to Ksh 135M.

A total of 11 universities whose final year  students were recalled to complete their studies, include – University of Nairobi, Moi University, Kenyatta University, Jomo Kenyatta University of Science and Technology, Maseno University, Masinde Muliro University, Egerton University, Kenya Methodist University, Mount Kenya University and Uzima University will benefit from the PPEs.

They will be issued to the final year medical and dental students based on their needs.

Commenting on the exercise, Dr James Mwangi Equity Group Managing Director and CEO, who is also the Chair of the Kenya COVID-19 Fund Board Health Committee noted that both Equity Group Foundation and the Kenya COVID-19 Fund Board remain committed to fulfilling their promise of supporting the medical fraternity serving in public hospitals with  PPEs.

This,he said will safeguard health workers serving on the frontline in mitigating the COVID- 19 pandemic.

“With the escalating numbers of COVID-19 cases, it is critical that we protect our healthcare workers who continue to serve with fortitude. This second round of PPEs will equip even more of our healthcare workers. Now that the finalist medical students have resumed classes and clinical rounds, we felt that they too should be protected as they apply themselves in their last practical lap of training alongside their colleagues at the frontlines,” said Dr Mwangi.

Similar to the establishment of the Hospital Liaison Committees, the medical student associations in the various universities have come together to establish working committees led by students who are part of the Equity Leaders Program.

The working Committees will serve the primary purpose of managing and tracking the use of the PPEs as well as share feedback on the quality of the PPEs.

They will also identify the various needs that they may require support to ensure that they remain safe while serving Kenyans.

The Kenya COVID-19 Fund Board Chair, Jane Karuku reiterated the Fund’s commitment to remain at the forefront in strengthening COVID-19 mitigation measures.

Please Share
Continue Reading

Trending