Financial Journal – (10/03/2009 )
	Homeboyz break the ice in bottled water industry
	In what is perhaps the most unlikely story of brand building and corporate buyouts, Homeboyz Entertainment will on March 16 officially become a major player in the multimillion shilling bottled water industry. That a company better known for producing music programmes for radio and TV, among other things, splashed out a cool Sh100 million for a water bottling firm, still baffles many. But for the Rabar brothers — Alph, Mike and John — it is a journey that began six years ago, when they launched a music programme, H2O on KTN television. … Read More
How far is Africa from a single currency?
The goal of a single African currency has long been seen as a pillar of African unity, a symbol of integration and a precursor to an area in which the free movement of goods, persons, services and capital is ensured. However, experts are cautioning that while it is okay to dream big, there is need to be wary of potential failure if implemented too hastily and the harm it would cause, not only for Africa’s global image but also the people. … Read more
You are not safe from crisis, Africa Re warns insurers
The insurance industry is headed for turbulent times as reinsurance firms mull over increasing premiums to cushion against losses. The direct consequence is that it will cost more to buy insurance covers, because the cost that will be passed to policy buyers. … Read more
Zain bets on ringing at more rural homes
Mobile operator Zain Kenya will make a strategic shift in its communication programmes to target rural communities. The strategy is aimed at increasing coverage in rural areas, where mobile telephony penetration is still low compared to urban areas. Only 20 per cent of people in rural Kenya have cell phones, compared to 60 per cent in urban areas, making the regions a ripe market for growth. … Read more
World Bank to grant Rwanda Sh14 billion
The World Bank has said it would donate an extra $172 million (Sh15 billion) to Rwanda by June, to deflect knock-on effects of the financial crisis in advanced economies. Johannes Zutt, Rwanda’s World Bank country director, said most developing countries had been spared from “first order effects” of the global credit crunch. … Read more
Bottled water firms face govt regulation
The perception that tap water cannot be consumed without prior treatment, and frequent dry taps, has seen the tremendous growth of the bottled water industry to transcending social classes. Today, bottled water is no longer a preserve of the rich. This growth has also seen an increase in competition and has compelled water bottlers to increase their budgetary allocation for marketing. The market is now being inundated with trendy bottles and ‘no-spill’ sports caps. … Read more
K. Railways battles for ownership of prime land
A tussle has broken out over the ownership of a vast and prime piece of land, earmarked to host a proposed golfing, hotel, entertainment and shopping complex in Nairobi. The dispute, which could derail the Sh24 billion-planned investment, follows conflicting claims to the property by the Kenya Railways Corporation (KRC) and the Kenya Railways Golf Club (KRGC). … Read more
Homeboyz: The making of a legend
Homeboyz Entertainment has grown from a simple deejaying unit created in the mid nineties when it was worth just tens of thousands of shillings, to an entertainment and lifestyle empire. The total shilling value of the company’s business arms is not clear, but is estimated in the hundreds of thousands, having grown in size and capitalisation over the last 15 years. … Read more
What went wrong at the bourse?
Two years ago, Nairobi Stock Exchange market was a very nice place to be. Whichever of the main financial assets you bought; equities or bonds you were going to make quite a lot of money. A simple “buy to hold” strategy worked rather well. At the time, of course, every investor was too sure that capital gains would be quite as strong as they subsequently proved to be. … Read more
Hotels turn to locals as foreign arrivals dip
Strapped of much-needed capital after a dip in international tourist arrivals hoteliers are now using special packages to woo domestic tourists. Statistics by the Consumer Insight Africa once showed that one out of every ten Kenyans goes on a high spending domestic holiday. … Read more
Managing growth after business re-engineering
An interesting point arises from last week’s article on managing challenges like the current global recession and still maintain business momentum. A hit locally and a myriad more from The Standard readers abroad raise an interesting point: we have redesigned our corporate culture -and this is attested to by frequent business process audits- but we still do not seem to hit the rock. … Read more
Uphold ethical business practice or risk national destruction
Exam cheating is still doing the rounds. The Sh7.6 billion Triton fuel scandal is not about to go away as yet. Even the national maize scandal is not behind us either. All these bring to mind a very recent discussion at the British Council Leadership Forum, which was about business ethics. … Read more
EAC yet to start talks on trade agreement
East African Community (EAC) partner states are yet to start negotiations on trade in services with the European Union (EU), four months to the deadline set to sign a final trade agreement. Under the ongoing Economic Partnership Agreements (EPAs) negotiations between the EU and the African, Caribbean and Pacific (ACP) countries, the two parties are expected to agree on how to trade in services by the end of July. … Read more
Comesa to launch secure money transfer
Trade within the Common Market for East and Central Africa (Comesa) region will become easier as the trading bloc considers a new money transfer system. Comesa Clearing House Executive Secretary, Dr Kambo Mweyana said the bloc will launch the single Regional Payment and Settlement System (REPSS) by the end of May, this year. He said the system will reduce the time, and taxation investors incur while routing money transfers in the region through US and western European banks. … Read more
Board’s onerous task of selling Brand Kenya
Not many people knew Mary Kimonye when she took over the helm as the Chief Executive Officer (CEO) at the Brand Kenya Board (BKB), last year. The parastatal is charged with marketing the country’s image locally and abroad. The former University of Nairobi Professor’s first year as CEO of the board has put her directly in the public eye and has been far from easy. … Read more
Bob Mathews: Tracing root of brokerage problem
The fate of the troubled Bob Mathews Stockbrokers hangs in the balance as the firm struggles to shore up its eroded balance sheet and comply with the Capital Markets Authority (CMA) requirements. The broker faces a threat of being permanently locked out from the Nairobi Stock Exchange (NSE) for failing to honour financial obligations to its clients. … Read more

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