CfC Stanbic Holdings shareholders approve rights issue

Nairobi: December 19^th 2011: Shareholders of CfC Stanbic Holdings Limited have approved a  Rights Issue at an Extraordinary General Meeting held in Nairobi on 19^th December 2011.  

Shareholders also voted to raise the firm’s authorized share capital from KES 1,368,421,055.00 to KES 2,368,421,055.00.  The authorized share capital of KES. 2,368,421,055.00 is divided into four hundred and seventy three million six hundred and eighty four thousand two hundred and eleven (473,684,211) ordinary shares of Kenya shillings five (KES 5.00) each, by the creation of two hundred  million (200,000,000) new ordinary shares of Kenya Shillings five (KES 5.00) each.

Effectively, the move paves way for the Board to make formal applications to the Capital Markets Authority and the Nairobi Securities Exchange for the Rights Issue which is targeted for the second quarter of 2012.

Confirming shareholders nod to the transaction CfC Stanbic Holdings Chairman Mr. Fred Ojiambo said: “We are very pleased that our shareholders have approved the Rights Issue which can now proceed in accordance with the Capital Markets Authority and the Nairobi Securities Exchange regulations. We regard this resolution as a demonstration of confidence by our shareholders in the strategic course that we set for the Group.”

The Managing Director of CfC Stanbic Holdings, Mr. Kitili Mbathi said the Rights Issue would strengthen the Group’s capital position, and support the continued growth of the business in the future.

“In the past few years we have laid a strong foundation for the Group’s future and as the impressive results as at 30^th September demonstrate, we have been successful in implementing our strategy.  We believe that there are great opportunities for growth and it is critical that we have sufficient capital to take advantage of these opportunities” Mr. Mbathi added.

At the Extraordinary General Meeting, shareholders also approved the amendment of the Articles of Association to reflect the new capital structure.

Finding a Credible Translation Agency Online

A friend has just inquired on where he could get a suitable translation and interpretation agency.That inquiry has led me to find out that doing so through a search online may not just yield the best results.Well its true that a simple search will yield dozens of results, but the question often is are they credible,will they yield the intended result?and who really has the time to sift through agencies through trial and error?

As a client often we have different needs and technical requirements when it comes to translation or interpretation .It seems easy to just use Google translate but in practice i have found out that different online translation services translate the same literary work differently with ambiguous meaning and obviously there is no proof reading for such web portals so you cannot completely rely on that. I would recommend Rosetta Worldwide translation services .

Although based in London they have a Worlwide appeal due to several reasons.First they cater to clients according to the technical nature of the services required e.g is it medical, legal, financial or some other technical language then they have the necessary expertise to meet up with that requirement.Their proof readers are also aided by the most sophisticated translation memory and data mining tools. Rosetta are prompt with delivery, have textual consistency and are affordable.

For full details you can visit their website and find out if they just suit your bill.

Emirates to boost Kenya- France tie

Airline to add five more flights to Paris by end of 2012

Nairobi– 13^th December 2011 – Emirates, one of the fastest growing airlines in the world, will add an additional five weekly flights to Paris by the end of 2012. The increase in flights is in direct response to strong passenger demand on the route.

Effective 25th March, the current double-daily Charles de Gaulle service will be supplemented by an additional four frequencies, increasing to five extra weekly flights in the winter 2012 schedule.

Making the announcement in Nairobi, Emirates Regional Manager for East Africa Essa Sulaiman Ahmad said:  “Demand to and from France, particularly from business travellers, is such that a third frequency has always been an objective for Emirates. With these additional services, we will help to satisfy that demand, while providing more opportunities for travel between Nairobi and Paris through our Dubai hub.” 

The announcement comes as good news as Kenya seeks to strengthen trade and social ties with France. Kenya is France’s first economic partner in East Africa and trade between the two countries are expected to grow.

According to the Kenya’s Ministry of Trade, trade between Kenya and France reached nearly €240 million during the first three quarters of 2011. According to the Quai d'Orsay, France imported Kenyan products, mainly food, tea, coffee and tropical fruits, to the tune of nearly €70 million and exported to Kenya pharmaceutical formulation products, cables and equipment worth €170 million. 

“The additional flights will also boost our cargo capacity to France and to other countries within the European Union, which is the main export markets for cut flowers from Kenya. France is one of the main European markets in addition to Germany, Netherlands, United Kingdom, Sweden, Italy, and Switzerland,” said Mr Ahmad.

On social front, Kenya has also signed an agreement of co-operation with France where the two countries are expected to promote co-production of films that focus on common interest and favour involvement of individuals and companies whose activities are linked to the film industry. The deal also allows for cross participation of national works in festivals and cinema events organised in both countries and ensure that the parties contribute to the collection of film materials that enhance national film collections of the two countries.

France became part of the Emirates’ route network in 1992 and now two gateways are served; Paris and Nice. The additional five frequencies, taking the total number of Emirates’ weekly flights to Paris to 19, will be operated with a 777-300ER. The aircraft offers eight First Class Private Suites, 42 lie-flat beds in Business Class and a spacious cabin in Economy Class with 310 seats.

The four extra flights from March will operate on a Monday, Wednesday, Friday and Sunday. The new EK 071 will depart Dubai at 0355hrs and arrive in the French capital at 0905hrs. The return flight, EK072, leaves Paris at 1110hrs to land in Dubai at 1940hrs. Effective 30 October 2012, EK071 and EK 072 will also operate on a Tuesday.

Throughout all cabin classes, passengers can enjoy the latest version of the airline’s multi award-winning ice entertainment system, which brings over 1,200 channels of movies, TV shows and music, including French language content. 

Going For Holiday-Not Mombasa Again !...Discover Egypt

The Holiday season is here! Kenyans are busy planning on where to go for most the options are rather limited -its either upcountry to the Rural Homes or Mombasa! But that can change and it need not be so expensive at it.How about discovering Egypt ...yes and cheaply at it!

Without doubt Egypt and its rich history of being the first ancient civilization and the pharaohs offers tons of sites and interesting places to visit.Now that's Education,Enlightenment and Enjoyment in one package!



Some of the most popular and scenic destinations most frequented in Egypt include:

• Sharm el Sheikh, 
• Hurghada,
• Luxor, 
• Cairo

But the question often is how do you get a reliable travel agent to do the bookings for you and ensure that you not only get value for your money but also trust worthy services? that need not be a bother i have just discovered a website that can assist you do all that online...just go to  http://www.cheapholidays.com/egypt/  and get your Egyptian Adventure of a lifetime on ! Mombasa is just so yesteryear's and the reality is Egypt is affordable.

Cairo in Twilight is so beautiful....thats for sure!

  Challenge yourself this year and go to Egypt....it will be a trip of a lifetime ! Enjoy

Kelly Rowland Interview @TW Steel's party at The Box -Soho

Courtesy of Bespoke & Banter: Kelly Rowland and TW Steel unveiled global star, Kelly Rowland, as a worldwide ambassador -- with TW Steel Kelly Rowland Special Edition timepieces to follow in 2012. In this interview Kelly Talks about her time on 2011 XFactor.

A global star since the age of 16, Kelly Rowland -- a stand-out judge on the UK's X-Factor and
Grammy Award winner, grew up in the spotlight as a member of Destiny's Child -- one of the most
successful groups of all time. Her powerful voice a key ingredient in the group's awe-inspiring list
of chart-toppers, which include four No.1 singles in the US and more than 80 million records sold
worldwide -- Kelly has now blossomed into a stunningly unique solo artist.

Here is the video: