Battle: Dar es Salaam vs Nairobi

[Geza Ulole]

KCB plans yet another Tanzania buyout bid​

WEDNESDAY JANUARY 26 2022

KCB Group CEO Joshua Oigara. PHOTO | SALATON NJAU | NMG

By ELIZABETH KIVUVA
More by this Author

​

SUMMARY​

• The Nairobi Securities Exchange-listed firm has been looking to scale up its operations in Tanzania where it already runs KCB Bank Tanzania, a fully-owned subsidiary.
• Chief executive Joshua Oigara said the bank will from July be resuming talks on possible acquisition targets in the country that is one of Kenya’s major trading partners in the region.

KCB Group is still open to pursuing another bank buyout in Tanzania after dropping its bid to acquire BancABC Tanzania from London-based Atlas Mara Limited.

The Nairobi Securities Exchange -listed firm has been looking to scale up its operations in Tanzania where it already runs KCB Bank Tanzania, a fully-owned subsidiary.

Chief executive Joshua Oigara said the bank will from July be resuming talks on possible acquisition targets in the country that is one of Kenya’s major trading partners in the region.

“We are always looking for opportunities. So in Tanzania definitely,” Mr Oigara said.

“We had a final conversation with BancABC in December. Our focus largely today is on other countries. Tanzania is something we will come back to perhaps in the second half of this year.”

KCB and Atlas Mara called off the proposed transaction in December, citing regulatory hurdles. The Kenyan banking multinational had sought to make a full buyout of the Tanzanian lender for cash consideration based on the target company’s book value.
https://www.businessdailyafrica.com...completes-acquisition-of-rwandan-bank-3525198

The proposed Tanzanian deal fell apart after KCB successfully acquired a 62.06 percent stake in Rwanda’s Banque Populaire du Rwanda Plc (BPR) in August from Atlas Mara. A consolidation of BPR and KCB Bank Rwanda is set to double the Kenyan multinational’s market share, making it the second largest bank in that country.

Mr Oigara said KCB expects to complete the buyout of BPR’s minority shareholders by June.

“We had offered all the minority shareholders to purchase their shares and that conversation is going on at the moment. By the time we come to June, those willing to sell their shares will be able to and those willing to remain will remain,” he said.

KCB is among the country’s big banks that are expanding aggressively in the region, seeking diversification and growth in neighbouring countries a.

The home-grown lenders, however, still get most of their earnings from the local market but their foreign subsidiaries’ contribution to consolidated earnings has been on the rise.

ekivuva@ke.nationmedia.com

KCB plans yet another Tanzania buyout bid

KCB Group is still open to pursuing another bank buyout in Tanzania after dropping its bid to acquire BancABC Tanzania.

www.businessdailyafrica.com

MY TAKE
let this fail again

 

[IamLee]

An African adventure for a Virgin balloon​

​

Pablo Bustos​

by Virgin
19 January 2022

Richard Branson set multiple world records with his ballooning adventures in the 1980s and 1990s. So when Virgin Balloon Flights were asked to lend a balloon to another ballooning enthusiast to go on the trip of the lifetime, the team knew they had to do what they could to help.

The ballooning enthusiast in question is David Bareford, the father of one of Virgin Balloon Flights’ pilots. He was setting out on an adventure with balloon manufacturer and expedition facilitator Ultramagic to do two things: fly over Mount Kilimanjaro and then be one of the first to fly in the Ngorongoro Conservation Arena in northern Tanzania, crossing the Ngorongoro crater.

Pablo Bustos

David is no stranger to challenging hot air balloon rides, having flown over Kilimanjaro 10 years ago with Ultramagic. He also won the National championships in Saga, Japan, in 1997 and Chatellerault, France, in 2002.

Plus, he took home the bronze medal at the first World Air Games in 1997, and he’s taken part in competitions around the world. If anyone could take on a challenge like this, it was David.

Kilimanjaro challenge​

On the morning of the Kilimanjaro flight, David and the other pilots took off at 5.45am. There had been a rainstorm earlier, but by the time the balloons were due to take off it was dry.

“The launch site was at 5,300 ft amsl (above sea level) and within a couple of hundred feet we had entered cloud,” David said. “We continued our steady ascent, breaking cloud at about 8,500 ft, to be greeted by a clear sky above, the two mountain peaks of Kilimanjaro clearly visible in front of us and the rain clouds behind us.

“We could see most of the early balloons way ahead of us and mostly to the left of the peak but by staying relatively low I found a direction that would allow us to steer towards the crater. We passed close over the peak of Mawenzi and then descended slightly to line ourselves up for the main peak and crater. After just over an hour’s flying and 19 miles from take-off we passed straight over the crater with 1200 ft to spare, lobbing a competition marker into the crater as we passed!”

Pablo Bustos

David continued: “We flew on and at the far side the wind speed was slowing, dropping down to about eight knots and I became concerned that we would not have the duration to fly on to the landing area 15 miles beyond. After another hour and getting slightly nervous we had just reached the rainforest belt with the speed now down to barely five knots. We then heard on the radio from Stefan Zeberli that there were still about 20 knots at 10,000 ft so we started our descent. There was broken cloud below, so we flew on for another 30 minutes by which time the cloud had cleared and we were now well over the landing area on the far side. We initiated a descent virtually coming straight down from 10,000 ft to a stand-up landing near the road at a height of 4,800 ft amsl. We had flown for 50 miles in just over three hours and still had about hundred litres of fuel left.”

Pablo Bustos

When asked how he felt about the whole experience, David said “This was probably one of the best flights I’ve ever done. When I did it 10 years previously, I had regretted not dipping down and really seeing the crater so I was glad I had a chance to go again and really appreciate it.”

​

On to Ngorongoro​

There was no time to stop and celebrate the Kilimanjaro flight as next the team was off to Ngorongoro, a large crater 12 miles in diameter with steep sides. Ultramagic owner Josep Maria Llado had been trying for years to fly in or over the crater and this was the first time the balloons had been given permission.

Pablo Bustos

The team set off for the launch site at 4am, with a strong breeze that looked like it might jeopardise the flight. They were told that although they could fly over the crater, they did not have permission to land in it so would have to fly beyond.

“The wind direction looked as though it would take us over a tall mountain beyond the crater edge to the west which the approaching dawn revealed, covered in cloud. As I prepared, the wind abated slightly allowing the balloon to inflate without problem and we were soon off,” David said. “The wind picked up again and several balloons had difficulty in inflating behind with two managing to drag their pickup vehicles across the launch site. By staying low but above the stipulated 1000 ft over the animals we tracked north-west straight across the crater and the large lake in the centre with great views of elephants, herds of zebra, wildebeest and buffalo.

Pablo Bustos

“After an hour we crossed the crater rim passing over a herd of giraffe and headed out towards a large flat plain close to the road that ran from the crater rim down towards Olduvai Camp. We dropped down towards the plain covering the next 15 miles in only half an hour landing at about 20 knots on very firm but flat scrubland.”

With the flight over Ngorongoro completed, the adventure was over, but we’re sure it’s one that David and his fellow pilots won’t forget anytime soon. He commented: “With the pandemic now into its second year it had made this adventure all the more special and memorable.”

And plans are already afoot for the next adventure. We can’t wait to see where the balloons will float next.

Want to experience the thrill of a balloon ride for yourself? Visit Virgin Balloon Flights to start making your plans.

An African adventure for a Virgin balloon | Virgin

Richard Branson set multiple world records with his ballooning adventures. So when Virgin Balloon Flights were asked to lend a balloon to another ballooning enthusiast to go on the trip of the lifetime, the team knew they had to do what they could to help.

www.virgin.com

MY TAKE
Nimetafuta news za Mahali Mzuri website ya Virgin nimepata zero result yaani nada!

saii ndio una realize Richard Branson hakuwa ?!!🤣🤣🤣 after a whole sherade, na huna aibu hata?

Haya, ulitafuta news ukakosa, so ???!

 

[Chamoto]

Nimesikitishwa sana na uingizwaji wa company ya kigeni kwenye masuala ya kisheria katika majadiliano baina ya serikali na Makampuni ya gas kwenye mradi wa LNG

Lakini mara ya mwisho hawa Watanzania wenzetu ndio walikua wanashughulika na mambo yote ya kisheria kwenye huu mchakato, what happened? 🤔

Economic hitwoman.

 

[KANAIRO]

Oasis pangani

 

[The best 007]

Transaction worth $20M dollars is being done in Eastleigh everyday. I doubt that kama ya Kariako inaezafika $10,000



NAIROBI, Kenya, June 7- A business lull that lasted for 30 days following cessation of movement in and out Eastleigh area in Nairobi is a thing of the past, barely a few hours after President Uhuru Kenyatta said he will not extend the order, that also covered Old Town in Mombasa.

As it were before the lockdown, Eastleigh is now bustling with activities and cash is once again flowing within Kenya’s biggest business hub.

Transactions worth an estimated Sh2 billion take place in Eastleigh daily, according to available data.

Along Eastleigh First Avenue, tens of trucks were on Sunday seen offloading goods while Matatu and Boda Boda operators were back into their usual spots.

The silence that characterized the streets has been replaced by noise from public service vehicle operators, hawkers, and other traders calling for clients.

The streets are once again crowded while shopping malls like Emirates, Bangkok, and Hongkong have all reopened.

Eastleigh is now bustling with activity
“We can now comfortably feed our children now that our businesses are back,” a visibly excited resident only identified as Mohamud told Capital News.

It is hub that Ahmed Ismail, an official within the Eastleigh Business Community said contributes 25 per cent of the city’s Gross Domestic Product (GDP).

“Eastleigh’s stake to the economy cannot be underestimated,” he said.

Most of the residents of the populous estate who spoke to Capital News welcomed President Kenyatta’s decision not to extend the lockdown, saying they can once again do business and earn their daily income.

ADVERTISEMENT. SCROLL TO CONTINUE READING.

They are equally elated by the extension of dusk to dawn curfew time, which will now kick in at 9pm and end at 4am.

“It means we will now have more time to do business and also give our clients enough time to do their shopping,” Meshack Waigwa, a trader in Eastleigh said.

They described the 30 days they were locked from the rest of Nairobi as challenging, saying the government should consider giving financial support to the vulnerable and small businesses owners.

“Officials captured our details a while back and yet we have never received even a coin, yet we hear million of shillings have been spent. Who are the beneficiaries?” George Ole Kina, a matatu conductor within Eastleigh said.

Ole Kina is however happy that he can now earn a living, without waiting for aid from the government.

“I believe business will be back. People will start moving in and out of Eastleigh,” he said.

Notably, most residents have their masks on, to avoid being infected by COVID-19 disease, as they expect back people from other areas, who are largely their clients.

While coronavirus infections in Eastleigh and Old Town have not been fully contained, the President on Saturday said the situation is now better than before.

He urged Kenyans to continue observing precautionary measures issued by the Ministry of Health, to avoid further spread of the disease.

ADVERTISEMENT. SCROLL TO CONTINUE READING.

Since the first case was registered in the country in March, at least 2,600 cases have been recorded, with 83 fatalities while 706 others have since recovered.

7
SHARES
ShareTw

Weka source

Alafu wacha upumbavu wa kulinganisha kkoo na mavi.

 

[nomasana]

KCB plans yet another Tanzania buyout bid​

WEDNESDAY JANUARY 26 2022

KCB Group CEO Joshua Oigara. PHOTO | SALATON NJAU | NMG

By ELIZABETH KIVUVA
More by this Author

​

SUMMARY​

• The Nairobi Securities Exchange-listed firm has been looking to scale up its operations in Tanzania where it already runs KCB Bank Tanzania, a fully-owned subsidiary.
• Chief executive Joshua Oigara said the bank will from July be resuming talks on possible acquisition targets in the country that is one of Kenya’s major trading partners in the region.

KCB Group is still open to pursuing another bank buyout in Tanzania after dropping its bid to acquire BancABC Tanzania from London-based Atlas Mara Limited.

The Nairobi Securities Exchange -listed firm has been looking to scale up its operations in Tanzania where it already runs KCB Bank Tanzania, a fully-owned subsidiary.

Chief executive Joshua Oigara said the bank will from July be resuming talks on possible acquisition targets in the country that is one of Kenya’s major trading partners in the region.

“We are always looking for opportunities. So in Tanzania definitely,” Mr Oigara said.

“We had a final conversation with BancABC in December. Our focus largely today is on other countries. Tanzania is something we will come back to perhaps in the second half of this year.”

KCB and Atlas Mara called off the proposed transaction in December, citing regulatory hurdles. The Kenyan banking multinational had sought to make a full buyout of the Tanzanian lender for cash consideration based on the target company’s book value.
KCB completes acquisition of Rwandan bank

The proposed Tanzanian deal fell apart after KCB successfully acquired a 62.06 percent stake in Rwanda’s Banque Populaire du Rwanda Plc (BPR) in August from Atlas Mara. A consolidation of BPR and KCB Bank Rwanda is set to double the Kenyan multinational’s market share, making it the second largest bank in that country.

Mr Oigara said KCB expects to complete the buyout of BPR’s minority shareholders by June.

“We had offered all the minority shareholders to purchase their shares and that conversation is going on at the moment. By the time we come to June, those willing to sell their shares will be able to and those willing to remain will remain,” he said.

KCB is among the country’s big banks that are expanding aggressively in the region, seeking diversification and growth in neighbouring countries a.

The home-grown lenders, however, still get most of their earnings from the local market but their foreign subsidiaries’ contribution to consolidated earnings has been on the rise.

ekivuva@ke.nationmedia.com

KCB plans yet another Tanzania buyout bid

KCB Group is still open to pursuing another bank buyout in Tanzania after dropping its bid to acquire BancABC Tanzania.

www.businessdailyafrica.com

MY TAKE
let this fail again

my take: eagles don't bother with the opinions of maggots!

 

[IamLee]

Umeme upi? Poverty central 😂😂😂😂😂

Yaani hawa jamaa wanatucheka when there is a physical damage of high power lines causing a power outage in some areas nationwide, whereas their norm is no electricity 🤣🤣😂😂🤣
hawa jamaa hawana umeme 24/7 😅
yaani kuna watu wanakosa power for a whole month??!???

 

[Geza Ulole]

saii ndio una realize Richard Branson hakuwa ?!!🤣🤣🤣 after a whole sherade, na huna aibu hata?

Haya, ulitafuta news ukakosa, so ???!

mimi nimeuliza wapi coverage ya Mt Kunyaland Virgin?

 

[Mgagaa na Upwa]

Nyie wakunya hapa si dubai muelewe Teargas na wenzako

 

[IamLee]

Nyie wakunya hapa si dubai muelewe Teargas na wenzako

🤣🤣🤣🤣🤣🤣 wow who gives a flying …saucer 🤣🤣

 

[komora096]

hii laki na nusu ni mishahara ya mwisho kbsa (kima cha chini) kwa sisi wamiliki (family’s company) wa kampuni za ulinzi kulipa walinzi kisheria..
so hakuna mlinzi anaelipwa chini ya laki na nusu Tanzania nzima kisheria.. sasa kumfumbua macho jamaa ni kuwa walimu sio sawa na walinzi

Hyo laki na nusu hku mshahara wa mboch tena wengi wao watakataa..

 

[komora096]

Laki 6 za Kenya ni $6K
What is so special with $6K dear ?

Hyo inajengwa uswazi estate hapo bongo

 

[IamLee]

Nyie wakunya hapa si dubai muelewe Teargas na wenzako

na huku je?

The tanesco twitter handle is just here to apologize for power outages day in day out 🤣🤣

 

[komora096]

Kwa Tz watu wanaenjoy good salaries kwenye mashirika ya Umma Kama TPDC, Vyuo Vikuu kama UDSM, UDOM, SUA, MZUMBE etc,
Na mashirika mengine ya Umma Kama vile TANESCO, NSSF and other Pension Funds, NHIF, TBS， TRA, TANAPA, NIMRI, TALIRI, DAWASA, NHC, TTCL, MSD, TRC, EWURA, NEMC etc
Kwenye haya mashirika ya serikali a hraduate starts with a basic of 1000$ plus all other benefits, allowances etc and all the opportunities at the workplace,
Kumbuka pia life hapa bongo lipo chini sababu ya serikali kuwajibika,
Means same house you will build in Kunya for a $100K you can build at $50k in Tz

Naona unazunguka sana na wakati bado hujaleta sekata ya kupambanisha

 

[komora096]

Laki 6 za Kenya ni $6K
What is so special with $6K dear ?

Eti nini, sio ajabu huna hyo hela in cash katika account yako benki..

 

[Geza Ulole]

 

[LURIGA]

unajua kila nchi huwa na changa moto zake...etc...ninachosoma hapa ni because of tanzanias negative attitude towards kenya..huwa serikali na media zenu hazitangazi maendeleo ya kenya ila mambo kama njaa etc...just the way western countries like to potray africa...but kwa kiukweli ingekuwa tz media inaonyesha na kutangaza kiukweli maendeleo ya kenya...hapo ungejua sisi ni kina nani....wakati Rais Suluhu alizuru kenya alishangazwa saana na maendeleo aliyojionea...akashinda akisifu uzuri wetu kila alipoanza hotuba zake...tafuta hotuba zake you tube ujioneee... naye baba levo alipokuwa huku juzi alishangazwa sana na maendeleo ya kenya...mimi namjua baba levo alivyo mbishi and very outspoken..yule sio mtu wa kusema eti amfurahishe mtu...lakini alipigwa na butwaaa. Na bila aibu au haya ikambidi akiri ukweli mbele ya redio staion akisikika TZ yote....unadhani kenya ni mchezo ili imshangaze baba levo kiwango hicho??
Wewe hapo huenda hujakuja kenya bado, Na media zenu zina waonyesha mambo negative pekee kuhusu kenya...ndio maana mna nguvu ya kubishana saana bila proof yoyote...Utakapo kuja kenya..hata hiyo moroco unayoitaja hapa utaiona iko chini....
YAANI IMEFIKA KIWANGO NIWAKARIBISHE HUKU KWA BILL YANGU NIWATEMBEZE HUKU KIASI...HALAFU SIWADANGANYI .....HATUTAWAHI JADILIANA TENA KUHUSU MAENDELEO YA EAST AFRICA.....KWA SABABU MTAKIMYA MILELE.....

BABA LEVO KWA MANENO YAKE MWENYEWE...

" MIMI NI MBISHI SANA..LAKINI NAIROBI JAMANI WAMETUZIDI MBALI SANA...YAANI KUIFIKIA...KUIFIKIA ...KUIFIKA LEVEL YA NAIROBI , KWA BONGO, HII DAR ESAALAMA , KUIFIKIA LEVEL YA NAIROBI , TUNAHITAJI MIAKA ISHIRINI NA TANO MBELEE................."

Unamjua huyo baba Levola kwanza wewe? Huyo ni mhuni mmoja tu hapa Bongo ambaye inaonekana Kenya ndio nchi yake ya kwanza kutembelea. So hana exposure sana na outside world. Hakuna maendeleo yoyote hapo Kenya ambayo Tanzania inahitaji miaka 25 ili iweze kuyafikia.

 

[Geza Ulole]

Unamjua huyo baba Levola kwanza wewe? Huyo ni mhuni mmoja tu hapa Bongo ambaye inaonekana Kenya ndio nchi yake ya kwanza kutembelea. So hana exposure sana na outside world. Hakuna maendeleo yoyote hapo Kenya ambayo Tanzania inahitaji miaka 25 ili iweze kuyafikia.

Kunyaland hapo ilipo inahitaji miaka 200 kuondoa njaa!

 

[Ngokongosha]

Jamaa anachoshangaza ni kwamba alikuwa anamsifia sn Magu kipindi cha uongozi wake, leo kabadilika.

Hawa watu huwa wanapenda kumsifia mtu wa upande wao, Angalia hata Zitto kabwe hakosoi watu wa upande wao.

 

[Ngokongosha]

Na bado uko hapa kunadi miradi ya awamu iliyopita, hakuna jambo jipya lililoanzishwa awamu hii hata moja, Watz leo hii tunawatambia Wakenya kwa juhudi za awamu iliyopita kama una kende weka hapa mradi wa awamu ya sita

Awamu ya sita tumefanya mradi mkubwa wa chanjo ya corona 😂