Into Africa: how risk managers can use global programmes as part of their strategy in this fast-changing area

Into Africa: how risk managers can use global programmes as part of their strategy in this fast-changing area

Into Africa: how risk managers can use global programmes as part of their strategy in this fast-changing area

There has been an uptick in protectionism in the insurance markets of many African countries, with regulators imposing measures such as compulsory domestic cessions to state reinsurers, the introduction of minimum net premium retention levels, market capacity sharing and higher capital requirements for reinsurance cessions overseas. Erich Bentz, network partner relationship manager for EMEA and regional director of global programmes…

Kenya gets $200m to help mitigate climate and disaster risks

Kenya gets $200m to help mitigate climate and disaster risks

Kenya gets $200m to help mitigate climate and disaster risks

The World Bank has approved a $200m International Development Association credit to assist Kenya in managing the impacts of climate and disaster risks. The Disaster Risk Management Development Policy Financing with Catastrophe Deferred Drawdown Option (Cat DDO) will provide Kenya with rapid access to funding in the event of a disaster or public health emergency, while supporting key reforms that…

New support for private sector to boost Kenya power

New support for private sector to boost Kenya power

New support for private sector to boost Kenya power

The World Bank has approved a $180m International Development Association guarantee to mobilise private sector financing. It hopes the private sector investment will strengthen the financial position of Kenya Electricity Generation Company Limited and build energy security for all Kenyans. The Bank said the project will “build on Kenya’s gains that have diversified the energy mix and significantly improved electrification…

Kenya struggles for tourism numbers

Kenya struggles for tourism numbers

Kenya struggles for tourism numbers

East Africa is another hugely popular tourism destination but, as Steve Mbogo explains, 
Kenya has been struggling In 2007, Kenya registered a historic number of tourist arrivals of 1.8 million in total – a number the country, sadly, is struggling to reach this year. The 2007 fete was seen as a foundation for the country’s target of at least four…

Kenya open for UK investment

Kenya open for UK investment

Kenya open for UK investment

Political risks should not be deterring UK investors from doing business in Kenya, according to Kenya’s President Uhuru Kenyatta, who has assured UK investors that Kenya is open for business and that the business environment is stable and conducive for investment. Mr Kenyatta said the country had withstood the immense burden of going through two presidential elections within two months in 2017.…

Kenya to boost private sector

Kenya to boost private sector

Kenya to boost private sector

Kenya’s GDP growth is projected to recover to 5.5% in 2018, up from an estimated 4.8% in 2017. According to the World Bank’s 17th Kenya Economic Update (KEU), in the medium term economic activity should gain momentum, steadily rising to 6.1% by 2020. The positive outlook is underpinned by recovering agricultural output (thanks to favourable rains), the easing of political uncertainty…

Kenyan insurer sees surge in income, but profit down

Kenyan insurer sees surge in income, but profit down

Kenyan insurer sees surge in income, but profit down

Britam Holdings Plc reported a 143% hike in total comprehensive income to KES1.9bn in 2017. However, profit before tax dropped to KES865.8m compared to the KES4.2bn reported in 2016. The group’s total income grew by 24% to KES27.8bin, from KES22.4bn in 2016, attributed to a 15% increase in gross earned premium to KES23.3bn and a strong performance in equities. The…

Digital options could cost African jobs

Digital options could cost African jobs

Digital options could cost African jobs

Hiring workers in Kenya could be more expensive than using robots in US factories by 2033, warns the Overseas Development Institute (ODI). A new report, Digitalisation and The Future of Manufacturing in Africa, raises fears that African countries could miss out as manufacturers move back to richer economies due to falling automation costs. In the report, experts warn that African countries…

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