US Oracle set to generate new jobs in Kenya

Published on Tuesday, 25 July 2017 11:53

Software firm Oracle says it is adding undisclosed number of new jobs in Kenya as it continues aggressive plans to grow its cloud computing business locally.

The ongoing hiring is set to create 1,000 new postings in Europe, Middle East and Africa (EMEA).

The firm did not however break down the job allocation per country but said they are anchored in plans to deepen penetration of its services locally.

“Our cloud business is growing at incredible rates, so now is the right time to bring in a new generation of talent to our company,” said Tino Scholman, VP of Oracle Cloud in EMEA.

“We are looking to hire relationship-focused people who are self-motivated and smart, who thrive on business transformation for our customers and love delivering great results.”

Cloud adoption in Kenya in 2017 is estimated at $1.8 billion (about Sh186.8 billion).

Oracle now operates in 13 dedicated offices across Africa. These include two each in Nigeria, Egypt and SA and single offices in Algeria, Kenya, Ghana, Ivory Coast, Senegal, Morocco and Mauritius.

Applications for the new roles are already open under a campaign called ‘Change Happens Here’.

Oracle said it is looking for graduate-level candidates from diverse backgrounds and profiles with two to six years of work experience.

“They should be in human resources, marketing, recruitment, finance, supply chain or sales roles”.

Source: Business Daily Newspaper.

35 saccos sign up to offer interest-free house loans

Published on Friday, 21 July 2017 09:48

A group of 35 savings and credit co-operative societies (saccos) has unveiled a housing loans plan in which their members will get interest-free mortgages.

The scheme dubbed Africa Tenancy Purchase Initiative will see credit union members pay an upfront deposit of 10 per cent of the cost of a unit and then pay the balance in “rent” instalments for up to 20 years.

The unions, including Kimisitu Sacco, Safaricom Sacco, Habitat Housing Co-operative, and Nation Sacco, have a pipeline of five projects under the tenant purchase scheme comprising high-rise apartment blocks within the Nairobi metropolis.

Up to 5,000 members are expected to benefit in the next two years, a number that is projected to rise as more saccos join the scheme.

“With more than 90 per cent of Kenyans being tenants, this scheme converts their rent payments to make them homeowners. You just pay the deposit and the balance as rent. There is no interest rate,” said Mr David Ndegwa, a real estate developer and member of the scheme’s steering committee.

“We have critically analysed the consumer behaviour and the dynamics around how much a typical Kenyan in urban areas pays for rent and structured an affordable rent-and-purchase mechanism,” he said in an interview.

Saccos are banking on the tenant purchase scheme to tap into the lucrative property market by offering cheaper mortgages to low-income earners, who have largely been shunned by commercial banks.

The International Finance Corporation — the World Bank’s private sector lending arm — will offer partial credit guarantee for the housing projects, while Co-operative Bank and Shelter Afrique will provide short-term financing to develop the units, said Mr Ndegwa.

State backing

Upcoming projects include Sh2 billion Sunset Boulevard phase two located in Athi River, Sh800 million Komarock Wendani Heights, Sh6 billion Karen Heights, Sh6 billion Art Stone in Juja comprising 400 apartments, and Sh22 billion Habitat Heights in Athi River made up of 5,200 units.

For example, a sacco member who wants to buy a Sh3.8 million two-bedroom apartment at Sunset Boulevard — whose construction begins next month — will pay Sh380,000 as down payment, and the remainder in monthly rent instalments of between Sh15,000 and Sh25,000.

It would take 14 years to clear the balance, assuming monthly pay of Sh20,000. The project is also backed by UN-Habitat and the State department for housing and urban development.

Credit unions turned to setting up their own rent-to-own scheme following the State’s pussyfooting on plans to set up a special kitty where saccos would draw cheap cash for onward lending to members as mortgages.

“We are working with our development partners to put in place a mortgage liquidity facility, which will provide long-term funding to financial institutions, to enable them provide longer tenure mortgages,” Treasury CS Henry Rotich said in June.

Source: Daily Nation

Swiss global firm buys Kenyan flowers and vegetables exporter

Published on Friday, 21 July 2017 09:42

Swiss logistics firm Kuehne + Nagel (K+N) has acquired Kenya-based forwarder specialising in the export of flowers and vegetables to multiple destinations for an undisclosed amount.

K+N said the acquisition of Trillvane Ltd Kenya, a perishables specialist, will enable it strengthen its position in perishables’ operations between Kenya and Europe, especially to the UK.

The move, which is subject to regulatory approval, is set to boost Kenya’s long-running bid to sidestep middlemen in favour of direct export of fresh produce.
“With its 130 employees Trillvane is specialised in the export of flowers and vegetables. Its location at the Jomo Kenyatta International Airport in Nairobi provides easy and quick access to all major airlines allowing for later cut-offs and shorter transit times leading to both cost savings and optimal handling of temperature sensitive goods,” the firm said in a statement.
The Swiss firm has also bought Los Angeles-based Commodity Forwarders, adding 150,000 tonnes of perishables capacity to Kuehne’s network.

“The two acquisitions mark another important step in our global perishable logistics strategy,” said Yngve Ruud, member of the management board of Kuehne + Nagel International AG, responsible for airfreight logistics.

“These two transactions further strengthen and expand our fresh chain network connecting key production countries to major consumer markets.”

Source: Business Daily

Kenyan education start-up gets Canadian investor funding

Published on Thursday, 20 July 2017 09:08

A Kenyan education technology startup, M-Shule has secured cash investment worth $40,000 (Sh4.15 million) from Canadian investor Engineers Without Borders (EWB).

M-Shule uses an SMS and web-based education management platform that applies artificial intelligence to complement learning in schools.

“We are excited and thrilled to work with EWB Ventures as a partner and investor, given their deep expertise, commitment to ongoing support, and shared focus on groundbreaking and sustainable change,” said founder Claire Mongeau in a statement.

The app is designed to handle 144 million primary school pupils across Sub-Saharan Africa and was launched in January this year in Nairobi.

This is the eighth such investment that EWB has made through its arm EWB Ventures, in sub-Saharan African start-ups. “What we love about M-Shule’s platform is that its holistic and unifying approach arms stakeholders in the primary school ecosystem with data-driven tools critical for improving the quality of education for all students,” said Nicky Khaki, EWB Ventures managing director.

M-Shule intends to expand into East Africa by 2019 and throughout sub-Saharan Africa and South Asia in subsequent years.

Another Kenyan innovation that targets learners is BRCK Kio Kit is a technology solution that makes it possible for children to experience digital-enabled classroom learning.

Source: Business Daily Newspapers.