Author: staff reporter

Jeremiah Chunge Cofounder, Chief Technology and HR Officer at Etica Capital Limited

by Ben Kioko

Etica Capital Limited (ECL) is a wealth-tech company looking to revolutionize wealth management for retail investors through technology, by creating a platform that instills confidence in the investing public that breeds transparency, innovation and financial inclusion with as little as Ksh 100.

The Company aims at creating unique and innovative products that will aid in the
deepening of the capital markets in Kenya.
To offer attractive risk adjusted investment returns and financial flexibility to the clients. This is all done by considering democratizing investments through technology.

“We started the Etica Capital Company in July 2021 and did our submissions together with co-founders to the Capital Market Authority as the industry regulator for Licencing. From there, we decided to do technology deployment, for we wanted a wealth tech company to be technology driven. Developed our own in-house cloud network in order to fit our customization. From that, it is easy to develop our Mobile App, APIs and IOS.” Said Jeremiah Chunge Cofounder, Chief Technology and HR Officer at Etica Capital Limited.

Etica Unit Trust Fund comprises four sub-funds, highlighted below, which enable the client access to diverse regulated products that suit their needs. The fund’s governance is as below;

Money Market fund targets investors with a short-term investment horizon and offers them an opportunity to get attractive returns at the same time protecting their capital and offering liquidity. The fund primarily invests in short-term money market instruments.

Etica Fixed Income Fund invests in a diversified portfolio of fixed income securities such as government bonds, bank deposits and other fixed income instruments, with the aims of offering attractive returns by outperforming the income yield available on money market instruments and fixed deposit accounts and at the same time.

Etica Sharia Fund targets investors who are
looking for an investment opportunity that
follow the Islam principals of investing. The
fund holds a diversified portfolio of shariah-compliant investments and aims to
offer investors regular income.

Etica wealth fund targets sophisticated investors who have a medium-term investments horizon and allows clients to participate in a well-diversified portfolio that is able to offer attractive returns, by
investing in a wide range of securities including but not limited to treasury securities and corporate instruments.
Etica wealth fund is able to offer competitive
returns, above returns available in money
market instruments.The fund is compounded on a daily basis hence investors’ funds grow fast.
The fund is regulated by the Capital
Markets Authority and has oversight from
the Trustee to protect investors.

Combined industry track record (Tech +investments) include;

Successfully developed the 1st mobile based money market fund called MALI in partnership with Safaricom M- PESA with minimum investment amount of KES 100.
Successfully championed the 1st CMA sandbox project dubbed MALI (formerly Wekeza) and successfully exited with approval to launch. We also advised the regulator with recommendations in regulatory guidelines for digital-based investment channels.
100 percent cloud migration of Genghis Capital Investment bank’s technology infrastructure in 1 day successfully,
Won various Technology Awards 2018, 2019, 2020, as well as numerous appearances in events as thought leaders from 2018 –to-date.
Developed the most interactive mobile based application dubbed G-kuze that enables retail clients to digitally onboard, trade, and redeem any of the listed NSE stocks as well as invest in money market fund.
Guided UK’s Financial Conduct Authority (FCA) on CMA sandbox experience, areas of improvement, and engagements for implementation at the other regulators whom they were consulting with, namely CBK, RBA and IRA in Kenya. We also held a meeting at RBA to advise them on how to implement the sandbox process and it’s advantages in innovation and sector deepening.

Technology Investment;
Successfully managed investments portfolio size of over KES 150Bn across different licensed brands.
Set up and commissioned Asset Management division in 3 different organizations.

Management team at Etica Capital Ltd include;
Maurice W. Oduor who is the Chief Executive Officer
With 14 Years of Experience with a
Bachelor of Business Administration at
Maseno University, CFA level 3, ICIFA, CISI.

Name: Kenneth W. Maina
Title: Portfolio Manager
Years of Experience: over 10 years
Qualifications: BSc. Agricultural Economics- Moi
University, CPA K, CISI.

Name: Alice N. Kamau
Title: Risk & Compliance Officer
Years of Experience: over 5 years
Qualifications: BSc Mechanical Engineering – UON,
Diploma in Business &IT- Strathmore University, CISI.

Name: Jeremiah M. Chunge
Title: Chief Technology & HR Officer
Years of Experience: Over 16 Years
Qualifications: BSc – Information Science – Moi
University, Various Certifications in IT, HR and
Strategic Marketing

Name: Samuel M. Muia
Title: Head of Distribution & Business Development
Years of experience: Over 16 years
Qualifications: Bcom. Finance –CUEA, CPA II, CISI

Name: Alice T. Chege
Title: Head of Finance
Years of Experience: Over 7 years
Qualifications: Bcom. Finance – Kenyatta University, CPA K, Masters of Finance.

Martin mwarangu KTDA Group General Manager ICT

by Eric Ogott

Kenya Tea Development Agency Limited (KTDA) technology division led by Martin Mwarangu, was awarded as the Most Innovative Company and a Gold Mark of Recognition received at the CIO100 Awards held in Diani, Ukunda on November 24.

The award recognizes the innovative deployment of technology across the tea value chain for the benefit of tea farmers. The team presented three novel technology solutions – the use of the SAP ERP solution, enhancement in the Electronic Weighing System (EWS) and the recently launched KTDA Farmers App.

Martin has over 18 years of organizational and strategic leadership expertise gained in private and public sector organizations across the manufacturing, financial, and technology spheres.

He is an expert in formulating technology strategies and providing key insights and leadership in organizational digital transformation journeys, responsible for implementation of various industry solutions that meet the needs of various lines of business, guarantee quality service delivery to stakeholders, and enhance operational efficiencies.
He has received various recognitions for contributions in the technology space.

At KTDA, Martin has  been responsible for implementing SAP ERP and several other technologies that have led to huge costs reductions, enhanced business process efficiencies that have increased shareholder value and profits, put in controls that have enhanced business  governance.

The innovations have led to;
Improved customer experience and overall transparency, Inventory, stocks and assets traceability, Continued improved returns to the farmer by over 44 percent between 2021 to date, Improved governance structures along the tea value chain, Reduced greenleaf falsification cases by 50 percent and Reduced operational costs by over 30 percent.

KTDA ICT team members led by Group General Manager Martin Mwarangu (centre) display the award for Most Innovative Company and a Gold Mark of Recognition received at the CIO100 Awards held in Diani, Ukunda on November 24.

The solutions are geared towards improving efficiency across the tea chain, enhance customer experience and deliver better value for farmers and other stakeholders.

Going into the future, Martin is optimistic that the journey shall continue as KTDA aims to anchor technology around its business.

The Principal Secretary State Department for Technical, Vocational Education and Training Dr. Esther Thaara Muoria  today  presided over TVET Curriculum Development, Assessment and Certification Council (TVET CDACC) CEO handing over at TVET CDACC offices

BY ROBERT NJOYA

Today as we welcome the incoming CEO of TVET CDACC, it marks the beginning of a bright future in the TVET sector in Kenya. This moment symbolizes growth, progress and continuous pursuit of excellence .The Kenya Kwanza Government is angling towards industrialization and its banking on the TVET sector to spur industrialization in Kenya.

The occassion witnessed the outgoing CEO Mr. Joseph Njau hand over the mantle to Prof. Kisilu Kitainge Who will be the New CEO TVET CDACC. As the incoming CEO Prof. Kisilu Kitainge comes takes the mantle, I want to inform you that you have a big responsibility ahead of you.

In the realm of technical and vocational education and training, one name stands out as a beacon of progress and excellence: the Technical and Vocational Education and Training Curriculum Development, Assessment and Certification Council (TVET CDACC). This government organization in Kenya is unwavering in its dedication to enhancing the quality and relevance of technical and vocational education and training. With a laser focus on Competency-Based Education and Training (CBET), TVET CDACC has made remarkable strides in driving CBET implementation throughout the country.

It is through their tireless efforts that Kenya’s workforce is being equipped with the skills and knowledge necessary to thrive in today’s rapidly evolving world.The journey towards CBET implementation has not been an easy one, but TVET CDACC has overcome every obstacle with determination and resilience. One of the most notable milestones achieved by this esteemed organization is the development of 446 National Occupational Standards (NOS). These standards serve as benchmarks for assessing the competency levels of individuals in various technical and vocational fields.

By setting these standards, TVET CDACC ensures that the skills acquired by students are aligned with industry requirements, thus enhancing their employability and enabling them to contribute meaningfully to the economy.But the development of NOS is just one aspect of TVET CDACC’s groundbreaking work in CBET implementation.

In conclusion, They have also played a pivotal role in curriculum development, crafting programs that are not only comprehensive but also responsive to the needs of both students and employers. By working closely with industry experts, TVET CDACC has been able to create curricula that strike the perfect balance between theoretical knowledge and practical skills. This holistic approach to education ensures that graduates are well-prepared to meet the demands of the job market, making them highly sought after by employers.

Mr. Cosmas Mutava, Chairman Protective Security Industry Association.

By Benard Mulwa

The Association of Protective Security industry has challenged the government to operationalize the security wages Council, this comes as the Association disagreed with media reports express by the CEO of Private Security Regulatory Authority in the recent past.

Speaking to journalists in Nairobi today, the Chairman of the Association Mr. Cosmas Mutava, said the Association appreciate paying the security guards in accordance with the law as set out by the ministry of Labour, however it is not the mandate of Private Security Regulatory Authority to set up the minimum wage and the Association feel that the Authority is usurping the role of the ministry of labour.   

“It is expected the statement appearing in the media was a decision of the Private Security Regulatory Authority board and not one from the CEO of Private Security Regulatory Authority as individual” Cosmas Mutava statement reads in part.

The Chairman of the Association Mr. Cosmas Mutava said “we request Private Security Regulatory Authority to supply us with the list of accredited Schools where over 1.2 million security guards will be trained”.   

From Left: Capital Markets Authority CEO, Wycliffe Shamiah and Zimele Asset Management Chairman, David Ndii officially launch the Zimele ChamaManager platform

By Benard Mulwa

Chamas will now get a relief from the administrative processes and record keeping by the introduction of a digital investment platform, this comes as the Capital Market Authority (CMA) launches Zimele ChamaManager today.

Zimele ChamaManager is a product which focuses on how to mainstream Chamas and assists the retail investors by bringing them closer to where they get financial service and help them on how to invest the funds better for returns.

The platform comes with efficiency, flexibility, and transparency as all members of a chama will have access to the web-based platform. They will be able to access the chama’s account statement as well as their individual statements and will even get an alert anytime a transaction is initiated from the chama account.

Unveiling Zimele ChamaManager, Asset Management Joint CEO Isaac Njuguna said “In our 25 years of service, financial inclusion has always been at the core of our strategy. As a company, we have always endeavored to not only give our customers access to practical savings solutions at modest entry levels but also provide them with innovative products that are tailored to meet their savings and investment needs”.

The launch coincides with Zimele Asset Management’s 25th-anniversary celebration officiated by CMA Chief Executive Officer Wycliffe Shamiah who commended the company for spearheading innovative investment solutions that are geared towards financial inclusion. 

A Chama can open a Zimele savings plan account and manage it on the Zimele ChamaManager platform. Once the account is opened, a member can contribute to their account via mobile money or bank transfers. The signatories are able to initiate withdrawals to members or make payments when the Chama makes a purchase or investment are sent to a recipient’s mobile phone wallet or bank account.

“Our role as CMA involves not only regulating but also facilitating the development of the capital markets. Today, we come together to applaud Zimele’s remarkable 25-year journey of development. Consistent performance and commitment to excellence. Amidst the tough operating domestic and global macro-economic environment, Kenya’s capital markets has remained stable. Assets under management for collective investment schemes have grown steadily over the last six years by KES. 265 per cent from KES. 56.6 million in March 2018 to KES. 206.7 billion as of September 2023. Similarly, Zimele’s asset under management has grown tremendously by 220 per cent from KES. 895 million in March 2018 to KES. 2.9 billion as of September 2023. This is proof of Zimele’s remarkable efforts and outstanding growth,” said CMA CEO Wycliffe Shamiah.

Sale of Online vapes and the quality:

 Vaping, the act of inhaling vapor produced by an electronic cigarette or similar device, has a relatively short history compared to traditional tobacco smoking. Early 20th Century: The concept of vaping can be traced back to the early 20th century when inventors like Joseph Robinson and Herbert Gilbert patented devices that aimed to produce flavored vapor instead of smoke. However, these early attempts didn’t gain much popularity.

 Sale of vapes to underage children involves a combination of legal regulations, age verification measures, and educational efforts. Here are some steps that can be taken. Legal Regulations: Enforce and strengthen existing laws that restrict the sale of vapes to minors. This might include age restrictions, licensing requirements for online vape retailers, and penalties for non-compliance. Age Verification, implement robust age verification systems on websites and online marketplaces that sell vapes. This can include using age verification software, requiring photo ID uploads, or integrating with government databases to confirm the buyer’s age. Restricted Shipping: Collaborate with shipping companies to ensure they don’t deliver vaping products to underage individuals. Implement a system where couriers check the age of the recipient upon delivery. Education: Launch public awareness campaigns to educate parents, teachers, and young people about the dangers of vaping and the legal restrictions in place. Encourage open discussions on the topic, Industry Cooperation: Work with vaping product manufacturers and online platforms to encourage responsible marketing and sales practices. Encourage self-regulation within the industry.

Penalties and Enforcement: Enforce strict penalties for retailers who sell to minors online, and regularly monitor and crack down on illegal online sales. Community Involvement: Involve communities and parents in the effort to prevent underage vaping by promoting local initiatives and support groups. Technology Solutions: Explore the use of advanced age verification technologies, such as biometric authentication, to enhance the accuracy of online age checks.

Preventing the online sale of vapes to underage children is a multi-faceted challenge that requires cooperation from various stakeholders, including governments, online retailers, and the community. Legal Regulations: Enforce and strengthen existing laws that restrict the sale of vapes to minors. This might include age restrictions, licensing requirements for online vape retailers, and penalties for non-compliance.

Tips on quality vapes:

How do I know if my vape is original?

Packaging/labels – Vape devices have very strict guidelines that determine what is on the box. All disposable vapes that contain nicotine will have a nicotine warning on the packet. Also, look for clear easy-to-read text, serial numbers and clear expiry dates.

What are the symptoms of fake vaping?

Symptoms Of A Fake Vaping Product

Bleeding gums, mouth sores and bad breath are also potential side effects of using counterfeit vape products. Popcorn lungs – Some harmful products in counterfeit vape products can cause damage to the smallest airways of your lungs.

Can you taste a fake vape?

A fake device will likely have a highly distorted taste that’ll be much more bitter and rugged than what a genuine product should taste like.

Written and compiled by vapezafrica- Kenya.

By Steve Sabai

Former President of the Kenya National Chamber of Commerce (KNCCI) Richard Ngatia has been appointed as the new president of the East African Chamber of Commerce, Industry, and Agriculture (EACCIA).

Ngatia replaces Toufiq S. Turky, whose tenure came to an end earlier this month.

Ngatia is also the chairman of the General Assembly of the Great Lakes Region Private Sector Forum, a position he attained in 2019.

The business mogul will lead the EACCIA which serves as the apex chamber for all the countries that compose the East African Community (EAC) member states.

Ngatia, an astute businessman, took over the leadership of the Kenyan Chamber just before the world plunged into the Covid-19 pandemic that affected the economic status of the business sector in the country but amid the turmoil, managed to steer the KNCCI into unprecedented successes.

Through his leadership, Kenya was able to craft many partnerships with foreign countries in the area of corporations like an expansion the availability of jobs for Kenyans abroad as well as leveraging the local business strategy even as businesses faced the harsh economic times.

“I am happy to pass on the baton to Ngatia so that he can facilitate the creation of an atmosphere in which our regional chamber can contribute effectively and efficiently in realising the objective of a trade-led regional integration of East Africa in order to further strengthen our unity,” Tukey said after handing over the baton to Ngatia.

Ngatia serves in the World Chambers Federation (WCF) after he was appointed to the world body for a two-and-a-half-year term effective January 1, 2023.

Ngatia is the first Kenyan to sit on the council of the powerful lobby for trade chambers with his appointment seen as a major boost to local businesses.

During his tenure as KNCCI President, Kenya was able to embark on an aggressive campaign to open more market opportunities abroad and deepen trade ties with traditional allies.

The WFC is a global lobby that draws members from over 100 countries worldwide and only 20 personalities are elected to sit on the WCF council.

From Left: Hon. Jimmy Angwenyi, the Chief Justice, Marther Koome and Rev. David Lebarleyia at the Supreme Court buildings in Nairobi today.

By Benard Mulwa

The Chief Justice and President of the Supreme Court Marther Koome has today challenged the National Heroes Council to work towards coming up with ways and avenues through which Kenya can pay homage to their courage, their sacrifices, and the indomitable spirit that has shaped the identity of our beloved nation, Kenya.

This comes as the Chief Justice presided over the swearing in ceremony of Hon. Jimmy Angwenyi Ondieki as the Chairman of the National Heroes Council and Rev. David Lebarleyia as a member of the Council today at the Supreme Court.

The appointment of Hon. Jimmy Angwenyi and Rev. David Lebarleyia was meant to persuade the National Heroes Council to ensure that the stories of our heroes continue to inspire, motivate and drive us a nation towards a future that’s vibrant and promising as the heroes themselves.

“we trust in your abilities to promote the goals that informed the establishment of the National Heroes Council, which is to celebrate our heroes in a manner befitting their contributions, and to inspire future generations to emulate their spirit,” the Chief Justice speech reads in part.

Hon. Jimmy Angwenyi will serve for a period of three years effective from 13^th of October 2023 and Rev. David Lebarleyia appointment is effective from 27^th October and will serve for three years as well.  

The National Heroes Council is a State Corporation established under the State Corporation Act Cap 446 and by the Kenya Heroes Act No 5 of 2014. The mandate of the Council is to establish criteria for the identification, selection and honoring of national heroes.

Specific functions of the Council include, formulating and implementing policy relating to national heroes, identifying and recommending national heroes; establishing and overseeing the management of the national heroes square, design and creation of appropriate commemorative items for purpose of honoring national heroes.

Other functions include administering State assistance to national heroes where necessary; enforcing sanctions and penalties in respect to disgraced national heroes, and carrying out studies, research and evaluations of the national honours system and other systems in other jurisdictions.

Additionally, the Council is mandated to conduct and facilitate civic education and awareness on issues relating to national heroes.

Heroes are identified, selected and declared from categories highlighted in the Kenya Heroes Act of 2014. These categories include the liberation struggle, spiritual leadership, indigenous knowledge, cultural values and practices, arts, sports, scholarship professionalism, research, peacemaking, statesmanship, entrepreneurship and industry, philanthropy, human rights, national cohesion and integration and environmental conservation.

The Chief Justice and President of the Supreme Court Marther Koome asked the Chairman Hon. Jimmy Angwenyi and Rev. David Lebarleyia as they discharge their role, always to bear it in mind that the position that they assume today is more than just a title or rank. It is a promise to our nation, a promise to uphold the ideals of our heroes, a promise to remember their sacrifices, and above all, a promise to ensure that their stories continue to shape the trajectory of our nation.

“Let us always remember that through their acts of bravery, integrity, and resilience, our heroes have made immense contribution to various facets and spheres that make the fabric of our nation. They are our touchstones, and our lodestars, guiding our progress and reminding us of the ideals upon which our nation is built,” the Chief Justice said adding that “Let us always remember that through their acts of bravery, integrity, and resilience, our heroes have made immense contribution to various facets and spheres that make the fabric of our nation. They are our touchstones, and our lodestars, guiding our progress and reminding us of the ideals upon which our nation is built,”.    

By Dianah mukui

Today day Nairobi hospital conducted a free training on safe maternal and childcare dubbed ” The 2023 Mommy and baby fair” to mother’s

The training has provided mother’s golden opportunity to acquire knowledge about pregnancy, options in labour and childbirth, immunization, nutrition for mother’s and myths sorrounding pregnancy and delivery

Speaking during the free training on safe maternal and childcare The Nairobi Hospital chief executive officer James Nyamongo noted that family health education is critical in improving healthy living among the population and ending preventable maternal and perinatal deaths

“The Nairobi Hospital has organised 2023 Mommy and baby fair to raise awareness levels among the public on matters pregnancy, labour and childbirth” said Chief executive officer James Nyamongo

The Nairobi Hospital chief executive officer James Nyamongo highlighted Mommy and baby fair is an open forum that is free to all

“This year’s Mommy and baby Fair is unique ,it is not only going to be a fun-filled interactive session on pregnancy , labour and childbirth but also one where children will be attended to by specialist” added Nyamongo

He further noted the importance of pregnant women receiving quality antenatal care and preconception.

By Maurice Momanyi

Kenyan small and medium enterprises have been advised to take advantage of the forthcoming 23^rd MSME Exhibition and Trade Fair which will be held in Bujumbura, Burundi next month, to grow their businesses.

Speaking during the unveiling of the national organizing committee for the said Trade Fair to be held from 5th to 15th December 2023, Co-operatives and Micro-Small and Medium Enterprises (MSMEs) Development Cabinet Secretary Simon Chelugui said the Expo would help them expand their reach into new markets, share new technologies, and strengthen regional integration.

Citing the EAC’s expanded market size of 300 million people and an estimated GDP of US$250 billion resulting from the recent entry of the Democratic Republic of Congo (DRC) into the bloc, CS Chelugui noted that it adds significant impetus to the push to increase Intra-EAC trade.

Noting that the EAC region now stretches from the Indian Ocean to the Atlantic Ocean, making it competitive and easy to access the larger African Continental Free Trade Area (AfCFTA), Chelugui said this is a rich market for Kenyan MSMEs products and services, adding that it would enhance competitiveness at the industry and enterprise level through the exploitation of opportunities for production at scale, continental market access, and better reallocation of resources.

“Burundi is a virgin market with immense unexploited opportunities and I encourage Kenyan MSMEs to take advantage of the excellent relations between the two countries to establish a foothold and exploit the emerging opportunities in terms of trade and investment. Possible areas of investment and market penetration include agro-processing, education, health, finance and banking, energy, light manufacturing, and construction,” Chelui said adding that Burundi is also a regional hub and entry point to Eastern DRC and the hinterland of the greater Central Africa region, thus an indicator of a potentially vast market that Kenyan exports can fully exploit.

This year’s trade fair, Chelugui said, serves to give exceptional commercial prospects for showcasing regional brands of both goods and services, providing further momentum to the EAC integration process.

The theme of this year’s Expo, “Connecting East Africa MSMEs to enhance Intra-EAC Trade,” resonates well with Kenya’s push for ‘Buy Kenya Build Kenya’ while also capturing the developmental aspirations of the EAC region as it adds impetus to member countries’ industrial initiatives and recognizes the important role that the development of domestic capabilities plays in the development of the regional economies.

“The theme equally resonates with the East African Industrialization Strategy target to increase intra-regional manufacturing of exports relative to total manufactured imports in the region to at least 25 per cent by 2032. Indeed, with our economies just emerging from the shocks caused by the recent global outbreak of the Covid-19 pandemic; it is therefore imperative that the business recovery trajectory is maintained by way of harnessing local sourcing and deepening the value chain frameworks among other strategies,” Chelugui noted.  By deepening the value chain frameworks, he added, Kenyan industries and organizations will definitely identify and group their own business functions into strategic primary and secondary activities; understand linkages and dependencies between different activities and areas in the business, and understand core competencies and areas of improvement.

The Expo will present an opportunity for over 300 Kenyan MSMEs to further understand the emerging market dynamics and business practices to facilitate business linkages for increased trade.

“It will not only avail a forum for showcasing what Kenya has to offer to the regional market but also play a leading role in facilitating trade and business exchanges among participating countries while at the same time offering an exciting platform for launching new and improved technologies targeting both the local and regional markets I would encourage the participating Kenyan entrepreneurs to take full advantage of the opportunities offered by the platform to share and learn from each other, create new business links, launch new products and services, and undertake test marketing as well as enhance the brand and corporate image of products and enterprises from the EAC region,” he said.

On his part, chairman of the Kenya National Chamber of Commerce and Industry (KNCCI) James Mureu hailed the Expo as one that plays a pivotal role in not only Kenya’s, but also the region’s economic growth.

Micro and Small Enterprises Authority (MSEA) Chief Executive Henry Rithaa Mwenda, whose body is mandated to spearhead and co-ordinate Kenya’s participation in this trade fair, reaffirmed that he will ensure participating MSMEs are fairly selected from across the 47 counties to ensure a successful event and fruitful business engagements and outcomes.

Over 1500 participating MSMEs are expected at the 10-day event, not only to showcase their products and innovative services, but also exhibit and share experiences on some of their life-changing innovations and creativity that helped them to navigate the current economic strains amidst stringent standard operating procedures (SOPs).

Ends