Continental Re celebrates ten years in Kenya

Continental Re celebrates ten years in Kenya

Continental Re celebrates ten years in Kenya

Pan-African reinsurance company Continental Reinsurance has marked its ten-year anniversary in Kenya by calling on industry stakeholders to work together to increase insurance penetration on the continent. Dr Femi Oyetunji, group managing director, Continental Reinsurance, said: “We should not focus on competing as industry stakeholders but complementing each other and building a better insurance market. By building partnerships, relationships and…

Kenya set for economic growth

Kenya set for economic growth

Kenya set for economic growth

Kenya’s real gross domestic product (GDP) growth is projected to rise to 5.7% in 2018 – up from 4.9% in 2017 – and continue to increase steadily to 5.8% in 2019 and 6.0% in 2020, according to the World Bank. In its 18th Kenya Economic Update, the bank attributes the rebound to a recovery in agriculture, steady pickup in industrial activity and…

$907m lost by Kenyan government through mis-invoicing

$907m lost by Kenyan government through mis-invoicing

$907m lost by Kenyan government through mis-invoicing

Analysis of trade mis-invoicing in Kenya in 2013 shows that the potential loss of revenue to the government was $907m for the year. The figures come from a report by Global Financial Integrity (GFI), which says to put this figure (the most recent available) in context, this amount represents 8% of total annual government revenue as reported to the International…

Major training scheme for Kenyan farmers from Nestlé expands

Major training scheme for Kenyan farmers from Nestlé expands

Major training scheme for Kenyan farmers from Nestlé expands

Food and beverage company Nestlé is to expand its training scheme for Kenyan farmers after successfully reaching more than 40,000 coffee producers. The support to farmers is geared towards increasing the productivity and quality of the coffee beans as well as encouraging more women and youth to participate in farming of the crop. Through its global Nescafé Plan programme, which…

International speakers lining up for Nairobi

International speakers lining up for Nairobi

International speakers lining up for Nairobi

Mikir Shah, CEO of Axa Africa, will be among a growing list of international speakers taking part in our upcoming Risk Frontiers East Africa seminar. To be held in Nairobi next week at the Southern Sun Mayfair Nairobi, the conference will cover political risks, the insurance gap, the skills gap and other key themes. Mr Shah will be taking part…

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…

1 2 3 10