29 October, 2012

Inside Story Premiere : A Kenyan Movie on HIV/Aids

 On Thursday 25th October, 2012 Discovery Channel Global Education Partnership’s  premiere'd the Inside Story Movie at  the Kenya Film Festival.The full feature-length film, Inside Story, brings together an all-star, pan-African cast in a compelling story of football, young love, and a twist of science has a two-fold mission: entertaining audiences while also educating them about HIV/AIDS.

Directed by RolieNikiwe (TshaTsha, The Lab, Intersexions) and filmed in Kenya and South Africa, Inside Storystars Kevin Ndege Mamboleo (Changing Times) as Kalu, a gifted footballer who moves from rural Kenya to urban Johannesburg to follow his dream and support his family. His path becomes more challenging when he falls in love with the coach’s daughter, Ify (Kendra Etufunwa), and subsequently finds out he is HIV-positive. Mamboleo and Etufunwa (Jacob’s Cross) are joined by international stars including Hakeem Kae-Kazim (Pirates of the Caribbean: At World's End, Hotel Rwanda, 24) as Kalu’s mentor and tough-as-nails coach, FanaMokoena (Blood Diamond, Hotel Rwanda) as the ruthless team owner, and Regina-Re as Kalu’s mother, Miriam.

Produced by Curious Pictures South Africa (now Quizzical Pictures) with the support of the U.S. President’s Emergency Plan for AIDS Relief (PEPFAR), the U.S. Agency for International Development (USAID), Chevron, Discovery Communications, Access Bank, the South African Department of Trade and Industry,SEACOM and the Joint United Nations Programme on HIV/AIDS (UNAIDS), Inside Story reaches across class and educational boundaries through a compelling story of sports, love and ill fates. The film, which has been selected for 12 international film festivals to date, won Special Jury Recognition at the 2012 Pan African Film Festival and was honored with the Zuku Award for Best African Film at the 2012 Zanzibar International Film Festival.

Inside Story will be available to audiences across sub-Saharan Africa later this year and early 2013 through theatrical, broadcast, online and grassroots platforms. 

This movie is bound to be a thriller and to inspire conversations especially among the teenage and young adult population in Kenya who are at high risk of contracting the disease due to to a notable trend and  heightened risk of engaging in casual sex. Its definitely a must watch movie for everyone who cares not only about their own lives but also of the larger community. If you watch it , please share your thoughts on as many platforms and social forums as you may be able to .

Twitter: @ThePowerofTV and #InsideStory

15 October, 2012

The Mo-Ibrahim Index of African Governance (IIAG)

2012 Ibrahim Index of African Governance (IIAG) confirms overall positive trends in governance on the continent, but reveals unfavourable shifts in some of Africa’s regional powerhouses

15 October,2012-The sixth Ibrahim Index of African Governance (IIAG), published today, reveals that governance in Africa has improved since 2000. In the last 12 years, at the continental level, there have been improvements in 11 out the 14 sub-categories of the IIAG. The largest improvements are shown in the sub-categories of Health, Rural Sector, and Gender, with all indicators showing improvements since 2000. At indicator level, of the 88 indicators included in the IIAG, the largest improvements appear in Cross-Border Tensions, Core International Human Rights Conventions, Legislation on Violence against Women, Ratio of External Debt Service to Exports, Digital Connectivity and Anti-Retroviral Treatment Provision.

Unfavourable shifts in in Africa’s regional powerhouses:

However, while governance continues to improve in many countries, some of Africa’s regional powerhouses – Egypt, Kenya, Nigeria and South Africa – have shown unfavourable governance performance since 2006. Over the past six years, all four countries have declined in two of the four main IIAG categories – Safety & Rule of Law and Participation & Human Rights. Each of these four countries deteriorated the most in the Participation sub-category, which assesses the extent to which citizens have the freedom to participate in the political process. South Africa and Kenya have also registered declines in Sustainable Economic Opportunity. And Nigeria, West Africa’s powerhouse, has for the first time this year fallen into the bottom ten governance performers on the continent.

Abdoulie Janneh, former Executive Secretary of the UN Economic Commission for Africa and Board Member of the Mo Ibrahim Foundation said: “Given the vast natural and human resources of these four regional powers, these governance results are a concern. Each of these countries plays a key role in the economic and political landscape of the continent. To continue to optimally play this role requires a sustained commitment to balanced and equitable governance.”

Mixed regional trends:

While West, Central and Southern Africa are slowly improving their overall governance scores, both North Africa and East Africa have registered declines. East Africa has now been overtaken by West Africa in the category of Sustainable Economic Opportunity. Two of the anchor countries of East Africa – Kenya and Uganda – have demonstrated deteriorations in Sustainable Economic Opportunity, dragging down the regional trends.

The importance of ‘balance’:

Overall, since 2006, the strongest continental performances are registered in the categories of Sustainable Economic Opportunity and Human Development, where there have been improvements in all sub-categories. Meanwhile, the categories of Safety & Rule of Law and Participation & Human Rights have registered declines, mainly due to regressions in three sub-categories: Rule of Law, Personal Safety and Rights.

This imbalance of governance performance between the four main categories of the IIAG was highlighted in the previous two editions of the IIAG, when Egypt, Libya and Tunisia stood out as cases in point. This characteristic, which appears across the continent, remains a concern.

Over the last six years, almost half (21) of the 52 African countries register increased imbalance between the four categories. The 2012 IIAG shows that five of the six most imbalanced countries belong to North Africa: Algeria, Egypt, Libya, Morocco and Tunisia. Not only does North Africa remain the most imbalanced region in Africa, it has also experienced the greatest regional governance deterioration since 2006. Contrary to the other four regions, North Africa is the only one that has deteriorated in the sub-categories of National Security, Public Management and Infrastructure.

Mo Ibrahim, Chair of the Mo Ibrahim Foundation said: “It is encouraging to note that the Millennium Development Goals have contributed to the improvement of all 52 countries in the Human Development category since 2000. But the post-MDG framework now has the potential to make similar improvements across the full package of goods and services that all citizens have the right to expect, and that governments have the responsibility to deliver.”

General improvements in gender, but West Africa lags behind:

In all regions, the highest sub-category score in the Participation & Human Rights category was achieved in Gender. The notable exception is West Africa, which receives its lowest sub-category score in Gender. West Africa is underperforming in this core governance dimension in comparison to other Participation & Human Rights sub-categories.

Mary Robinson, former President of Ireland and Board Member of the Mo Ibrahim Foundation said: “Gender equality is a fundamental governance issue, as captured by the IIAG. It is not only a question of human rights. Africa’s women have the capacity to bring about remarkable change and therefore equity and equality between men and women is in the strategic interests of African leaders and governments.”

Success stories…..and some failures

Over the last six years, Tanzania has climbed up the IIAG’s rankings, making it into the top ten for the first time. Angola, Liberia and Togo have left the IIAG’s group of the ten worst performers. They have been replaced by Eritrea, Guinea Bissau and Nigeria.

From 2000 to 2011, seven countries demonstrated a significant improvement in their overall governance score: Liberia, Angola, Sierra Leone, Rwanda, Congo, Democratic Republic of Congo and Zambia. One country, Madagascar, has significantly declined.

Significant improvements at category level have been registered in Safety & Rule of Law by Liberia and Sierra Leone, in Participation & Human Rights by Angola, Guinea and Liberia, in Sustainable Economic Opportunity by Angola, Liberia, Mauritius and Sierra Leone, and in Human Development by Niger. Significant deteriorations have been registered in Safety & Rule of Law by Libya and Madagascar and in Participation & Human Rights by Madagascar.

Statistical autonomy:

The Mo Ibrahim Foundation continues to advocate addressing the paucity of African data and the importance of statistical autonomy within African countries.

Mo Ibrahim said: “Good governance is about harnessing a country’s resources to achieve the results any citizen living in the 21st century has a right to expect. One of Africa’s biggest leadership and governance challenges going forward is to master its own robust statistical system. Political sovereignty begins with data autonomy.”

02 October, 2012

Standard Chartered Bank launches Rights Issue

Nairobi 2nd October 2012 Standard Chartered Bank Kenya Limited, a subsidiary of Standard Chartered Bank PLC, today launched its second Rights Issue which seeks to raise Ksh3.2 billion in additional capital, following approvals by the bank’s shareholders, the Capital Markets Authority (CMA) and the Nairobi Stock Exchange (NSE).

The subscription price for the banks Rights Issue, which opens on October 9th, 2012 and closes on October 26, 2012, will be Kshs.145 per ordinary share.

Speaking at the launch, Standard Chartered Bank Kenya Limited Chairman Mr. Wilfred Kiboro said: “Our shareholders have been very supportive in our strategic plans and other similar transactions as the one we are currently undertaking. Our 2010 Right Issue was hugely oversubscribed as a sign of confidence and faith in our strategic direction in the bank shown by our shareholders to date. We are confident that this year’s Right Issue will be equally successful.”

Standard Chartered Bank PLC, which owns 74% of the Kenyan subsidiary, is expected to take up its full rights with about Ksh. 832 million expected from the remaining retail, institutional and international shareholders.

The Bank’s Chief Executive Officer Richard Etemesi said the moneys realised from the Rights Issue will provide additional capital to enable the bank support its strategy as well as ensure that the Bank is in a sound position to meet any impending regulatory changes that may include increases in banks statutory capital requirements.

“The Rights issue safeguards our ability to pursue the attractive opportunities we see for growth like the increasing demand for loans and advances while also strengthening our capital ratios. We believe this approach will create clear long-term value for our shareholders, and underpin the financial strength of the Bank,” said Mr. Etemesi.

Etemesi said that the bank had over the last few years, pursued a focused agenda and continued to deliver consistent good returns to its shareholders against a challenging macro-economic environment.

“As a Bank, we continue to benefit from our deep client relationships, our network and a well-capitalized balance sheet. We set ourselves ambitious performance goals and have consistently delivered against them. We had a record year in 2011 and an even better first half performance in 2012, with record growth in income and revenue,” said Etemesi.

The Bank will offer, by way of rights 22,082,856 new shares at KShs145 each payable in full upon acceptance not later than 3.00 p.m. on 26th October 2012. The Rights Issue will be on the basis of one new share for every thirteen (13) existing shares held by each shareholder. The procedures for acceptance, payment, or renunciation of the Rights are contained in the Information Memorandum which has been mailed to all shareholders.

The New Shares will, when fully paid, rank equally in all respects with the existing shares with regard to voting, dividends, liquidation proceeds and pre-emption in future capital increases.

The Bank’s advisors for the Issue are; Standard Chartered Securities Kenya Limited - Lead Transaction Advisor, Standard Investment Bank - Lead Sponsoring stockbroker, Standard Chartered Bank - receiving bank while Mboya Wangong’u & Waiyaki Advocates are the Legal Advisors.

The reporting Accountant is KPMG and Custody & Registrars Services Limited will act as the Share Registrar. Image Registrars are the Data Processors for the Rights issue, while Hill + Knowlton Strategies and McCann Kenya Advertising will handle the public relations and advertising respectively.

01 October, 2012

Standard Chartered named Best Foreign bank in Kenya

September 28, NAIROBI: 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.


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