IMF’s MD Christine Lagarde Visit to Kenya: Dispatches from Mindspeak Forum

Mindspeak Poster

I attended the Mindspeak forum on Monday, January 6 2014 where the key guest was the IMF MD Christine Lagarde. Ms Lagarde was in the country for a three day working visit.

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), will visit Kenya from January 5–8, 2014, to meet with policymakers and other representatives of Kenyan society. – IMF Press Release No. 14/01 January 2,2014

Notable things picked from this session is despite the look east policy adopted by Kenya plus the perceived thawing of relations brought about by the ICC case the country has been engaging the IMF. To date Kenya has received almost $ 1 B from the time IMF. The monies we necessitated by a rapid decline in the value of Kenya Shilling to the dollar in the year 2012. The country applied for IMF short term lending which was approved and disbursement of these funds was divided into three tranches. The last which was approved by the BoD of IMF just before Lagarde jetted in.

Other insights gain from the MD speech was the health of Kenyan Economy. As pointed out –

‘Indeed, Kenya’s economic gains over the past few years have been nothing short of remarkable. Coming on the heels of a delicate political transition, growth remains robust—at more than 5 percent in 2013. And a set of bold economic reforms have laid the foundations to lift the economy to middle-income status within the next decade—if Kenya maintains the reform momentum.’ - Christine Lagarde

This is essentially important given Kenya will be launching a Eurobond either at the end of this month or in February 2014. The assurances from the IMF will certainly go a long way in making the bond issue a success.

The other aspects which were addressed by the speech were the growth prospects for SSA tagged together with the risks to look out for. In her off the cuff remarks Ms Lagarde mention with the recovery of Western markets capital is expected to flow back from emerging markets to the developed markets as the returns there become more meaningful.

‘Overall, we expect Sub-Saharan Africa to enjoy continued robust growth—which our projections in October place at 5 percent in 2013 and close to 6 percent in 2014. But this outlook is not without risks. Policymakers must remain vigilant to threats from slower demand in emerging market economies, unfavorable changes in commodity prices, or higher financing costs.’ - Christine Lagarde

On the quest of Middle Income Status by Kenya m/s Lagarde offered a roadmap in her three C’s namely;

1. Completing fiscal devolution; 
2. Closing infrastructure gaps; and 
3. Continuing regional

The full speech by m/s Lagarde can be accessed here

China, Japan and South Korea in East Africa...

In the recent past there have been a number of events cultural or otherwise in Nairobi by three Asian countries namely; China, Japan and South Korea. 

Whereas China has been very active in the recent past given the Africa onslaught clearly laid out in FOCAC. Other Asian countries seem to be following suit with Japan normally a quiet actor in Kenya staging a number of public events which we're choreographed to mark 50 years of diplomatic relationship with Kenya. One of this events which I attended was the Japanese Drum Festival particulars below;

Japanese Drum ‘Taiko’ Concert: To mark 50th Anniversary of Diplomatic Relations, Sept. 17 & 18 2013 @ National TheatreDates: September 17 & 18, 2013
Venue: Kenya National Theatre
Time: Gates Open 5.30 pm for 6 pm
Entry: Free
Occasion: To mark Japan-Kenya 50th Anniversary of Diplomatic Relations

During this occasion the new Japanese ambassador to Kenya gave his speech in presence of the Sports, Arts & Culture Cabinet Secretary Hassan Wario and outlined the mutual relations Japan has enjoyed with Kenya. In his speech the ambassador conveyed the sentiments of current Prime Minister Shinzo Abe. Embassy staff indicated a number of events at the cultural centre housed within the embassy and a concert at Carnivore. This marks a stack pattern of Japan activities in Nairobi and this can also be viewed also with the summit the Vice President William Ruto attended earlier in the year

South Korea on the other hand has an exhibition running at the National Museum and I was present during the opening where the South Korean Amb. was in attendance and from the government side was a director from the Ministry of Foreign Affairs. I was surprised to say the least to know that Kenya has a sizeable community of South Koreans living in Kenya. In fact their company Samsung has been making tremendous inroads in the smart phone market. Now days, Samsung phones have become a symbol for middle class Kenyan.

Details of the Exhibition

Eunju's Love & Harmony of Kenya

Opening: September 28, 2013 at 2 pm
Venue: National Museum
Exhibition: Runs Until October 24, 2013 Venue: Ecology Gallery, Nairobi National Museum Entry: Museum Rates Apply

The other notable observation was the appointment of Rufftone [Kenyan gospel musician] as South Korean public diplomat. Then, of course there is the GBS TV which is owned by the Koreans and has been airing Korean Pop Music targeted to young stars.  

Questions am Contending With...

• Is America checking China Influence in Africa by Using Japan & South Korea?
• Are we witnessing a resilient Japan under the stewardship of PM Abe [checking the influence of China in the continent]. I contend that Japan was seeking to Challenge China way earlier but the earthquake affected that. Now that the crisis back home is over then we should expect a more proactive actor in Africa.
• Will this overtures change Kenyan Foreign Policy

A Visual of Politician’s Salaries & Income Inequalities

Info-graph/Visual currently doing the rounds in the social media and micro-blogging site twitter. You will notice Kenya leads in this regards and this info is of no surprise to us. However, the way the info is presented drives the point home. 

Visual Courtesy of Visualizing Impact

A Visual of Politician’s Salaries & Income Inequalities ǀ Courtesy of Visualizing Impact 

D-Day: Deputy President William Ruto and Journalist Joshua Sang at the International Criminal Court

Khan, Sang and DP William Ruto. Photo Courtesy of DPPS

Ruto and Sang Case
Press Conference September 9, 2013 at The Hague


Pre Trial Reads

1. Reporting Kenya. - ICC Prosecutor, Defence Gear Up for Kenya Trial by Simon Jennings. 
2. Daily Maverick. - Analysis: Ruto and Kenyatta are still one step ahead of the ICC by Simon Alison
3. Daily Nation. FULL COVERAGE: Ruto, Sang stand trial at The Hague
4. Financial Times. - ICC under scrutiny as Kenya’s deputy president faces trial by Katrina Manson
5. Washington Post. - International Criminal Court tries Kenya deputy president Ruto for post-election violence by AP
6. RFI. - Phil Clark: "The ICC has a certain political naivete" by Olivier Rogez
7. New York Times. - Justice for Kenyan by Kofi Annan

'One concrete outcome was the Waki commission, a national inquiry into the postelection violence. It concluded that the violence was not just spontaneous, but, in at least some areas, a result of planning and organization, often with the involvement of politicians and businessmen. This was not surprising — politicians hungry for power have long exploited Kenya’s ethnic divisions with impunity.' – Kofi Annan 

Trial Watchers Kenya
The Open Society Foundation funded ICC Kenya Monitor is a good resource to track the Ruto and Sang Case.

The other site to check one's in a while is the africog site

Download OSF briefing paper of the trial here

[Event] Nairobi Forum & Oxfam Meeting: Remittance Transfers to Somalia, Sept. 11 2013 @ KICC

Date: Wednesday 11 September 2013
Venue: KICC – Aberdares Room
Time: 10am – 12pm
Entry: STRICTLY Prior Registration

Context

Every year, Somali migrants around the world send approximately $1.3 billion to friends and families at home, dwarfing humanitarian aid to Somalia. Individual transfers are usually less than $300, and often as little as $35. Families depend on the money for basic costs such as food, water, education and healthcare, and to cope with new crises.
A recent report by the UN Food and Agricultural Organisation shows that up to 40 percent of families receive some form of remittance, and that the money is integral to their survival. However, banks and regulators are in danger of inadvertently undermining this financial lifeline and driving it underground, as interpretation of UK and USA money laundering and counter terrorism legislation becomes tighter. Banks in the West are closing down the accounts of money transfer operators, thereby threatening to cut the lifeline to hundreds of thousands of Somali families.

This meeting will examine the impact of the decision by UK and US Banks to discontinue their services to the Somali remittance companies and explore challenges raised by the international remittance sector.

This post was originally posted in NairobiNow

Thought Provoking Read: Africa's Big Brother Lives in Beijing by John Reed

John Reed in an investigative piece on Foreign Policy contends that China might actually be spying on Africa. One of the question he possess is Is Huawei wiring Africa for surveillance? 

"Generally, most of the employees operating these systems are Chinese and the arrangements usually include delegating maintenance and decisions about future updates to Huawei as well, thus ensuring the Chinese firm's control of the basic technological architecture's foundation, evolution, and operations,"  - Chris Demchak, co-director of the Center for Cyber Conflict Studies at the U.S. Naval War College

Looking at this from a Kenyan perspective and given the happening on the ground this might actually be true. If you look at Safaricom the biggest player in telecommunications you will notice that it has close relationship with Huawei. One of the goals of Safaricom Ltd is to offer it's services to anyone and that means getting in agreements with Huawei which offers affordable phones to the base of pyramids. This agreements between Huawei and Safaricom usually extend to other areas apart from the hand-set market.

Also, sometime back I happened to have gone to an official launch at Kenya Broadcasting Corporation headquarters and I noticed most of the equipments and renovations of the state broadcaster were installed by the Chinese. This was during Kibaki administration who found a win win situation with the Chinese government. 

When one also looks at the Chinese Consulate in Kenya one will notice that they have a substantially huge complex which is next to Hurlingham plus another office dealing with trrade matters along Ngong Road. Certainly if the all countries snoop on each other but Chinese seem to be on the look out for new trade deals for their companies.

Also, looking at the Chinese benevolence in providing the African Union with a state of the art new headquarters in Ethiopia. This is the same building John Kerry the American Secretary of State marvelled upon in his first visit to AU headquarters. 

The Chinese certainly seem to have done their homework on the continent and now they unlike Americans do not need an African Drone Programme! 

Art: Backlash on Kenya’s Performance at 55th Venice Biennial Continues..

Backlash on Kenya's de-tasteful performance at Venice continues this time on a well written post in the blogosphere. I like his assertion below; 

The presence of a national pavilion, especially for countries participating for the first time, signifies a confidence; a newfound progressiveness and cultural involvement by governments, which demonstrates to the world the brilliance of contemporary artists available within the nation’s borders. It also goes to demonstrate a society with a heightened creative capacity, one that continuously speaks to itself and possesses a cultural consciousness that the government continuously supports. - cryptic paradoxes

You can read the whole article here 

Great Presentation on Kenya: Why Kenya is the Next Tech Capital

Below is an excellent presentation by Sofia Zab on Why Kenya is the next Silicon Savannah

Why Kenya is the Next Tech Capital: 2013 Sector Trends Online Social Mobile from Sofia Zab

Documentary: Uhuru Kenyatta's Road to Statehouse

Elections Watch 2013: International Media bent on Reporting on Doom for Kenya

Tweet of the Week: President Obama Message to Kenyan's

Twitter was the new tool that was used by Candidates Mitt Romney and Barack Obama as they campaigned for office in the 2012 US elections. It was instrumental in sending out messages to supporters, conceding defeat and announcing the win.

The US administration has moved on with this trend when on February 5, 2013 the white house tweeted the below tweet.

President Obama's message to the people of Kenya on their upcoming elections: on.wh.gov/992xRVU Watch: on.wh.gov/aZLBKal
— The White House (@whitehouse) February 5, 2013

And as fate would have it it looks likely that the 4th president of Kenya will be on twitter. If he will continue to use that medium after the win is another thing all together. The two leading contenders for presidency have a presence on twitter going by the handles;

@RailaOdinga and

@UKenyatta

In fact one of the candidates went as far as to tweet this;

I welcome the statement made by The US president @barackobama. I personally & we as #CORD are in complete agreement with it.
— Raila Odinga (@RailaOdinga) February 6, 2013

Africa Features Nowhere in President Obama’s Second Term Agenda

President Barack Obama's second term inauguration is taking place on Monday January 21, 2013. This marks the start of his second and last term in office. This being so a number of think tanks have prepared a set of briefs outlining what the president should strive to achieve in his second term in office. One glaring thing about most of these briefs is Africa is nowhere in their Agenda. At-least from the very top.
Which raises the question. Should the US and Europe for that matter have problems with countries that bet on Africa?

Have a look at the Brooking Institution: Big Bets and Black Swans-Crises & Opportunities for President Obama in his Second Term

Download the report here

Peace Procession/Protest: State Funeral, Jan. 16 2013 @ Uhuru Park’s Freedom Corner to Parliament Buildings

State Burial 

PichaMtaani are inviting Kenyans from all walks of life on Wednesday, 16th January 2013 at 10am, at Uhuru Park’s Freedom Corner to give the members of parliament the golden handshake they deserve.

Parliament officially closes on Tuesday 15th and the following day we shall deliver 221 coffins one for each outgoing Member of Parliament. 

The non violent, peace procession will be from Uhuru Park to parliament with thousands of Kenyans anti-vulture flags while carrying the coffins .

This protest will signify the end of five years of impunity by the 10th parliament. The protest will also be a reminder to the leaders that Kenyans are ready for a peaceful ballot revolution.

Last week members of parliament secretly passed a controversial KShs 9.3 million golden handshake. The MPs also approved that each of them gets an armed bodyguard, a diplomatic passport for the retiree and his wife and unlimited access to the executive lounge for Very Important Person in all the airports within Kenya.

President Kibaki declined to assent to the Retirement Benefits bill enacted by the National Assembly on Thursday 10th January 2013. We are holding our leaders responsible for their actions hence the coffins symbolising death to impunity & bad leadership. 

Visit the event page on Facebook 

You can tweet about it and spread the word. Hash tag #state burial #statefuneral

We want to encourage Kenyans to take proactive action in the advent of the bad leadership.

Mavulture Graffiti in City Street  [Photo by Andre Epstein]

This is your chance to join other Kenyans in speaking out against impunity and organize to vote for change. See you on Wednesday. 

Presentation by Chris Taggart Co-Founder of Open Corporates on: Holding Companies & their Directors to Account - An Open Data Solution

Imagine a situation where you could search company director’s names and find out which companies they sit on across the world. Well imagine no more. In today’s globally interconnected world where companies have more financial muscle than some governments it is ideal to know these things.

I was therefore happy to sit and listen to Chris Taggart of OpenCorporates.com make his presentation at 88 mph on his initiative to build an open access database with basic information on every corporate entity in the world which can then be remixed and combined with other data, such as government contracts.

What was happening before Open Corporates?

Journalist and researchers had to do manual investigation to track even the most basic facts about a company, such as whether it exists, and who owns it. 

What I took home from this Presentation

Taggard’s presentation opened my eyes on how interconnected companies are in this day and age and how they are using this to their advantage. Some of the things companies are doing are;

·         Registering in multiple countries therefore becoming more complex resulting to their operations becoming even more opaque.  This enables tax avoidance.

·         Colluding with weak governments. This is because ministers of government usually make deals with global businessmen. Open Corporates can help check on some of this incidences.

The other take away of the evening was how to use powerful data-driven tools and open access databases to mine company information from across the world. Though some of this tools one is able to get basic company information and with background data or other sources of information, such as government contracts or regulatory filings, one can gather new insights.

Opportunities that exist on Open Corporates Portal

Some of the opportunities that arose from this presentation are;

·         How Kenyan Hacks can use this portal to check on elected or government officials and interests they may have on companies

·         In an election year. Hacks can check on interests different politicians have across the world and use this for meaningful engagement.

·         Africa is currently having a massive Chinese confluence. Most of these Chinese Companies usually register companies in these countries. If made open, this data can help us understand the Chinese companies and shed light to money flow between Asia and Africa.

Bottom line is that Open Corporates can help check on corruption and make our societies more transparent.

Problems

Kenya though a signatory of Open Data is yet to release the company registry data. I learnt that monies to this effect we’re allocated by World Bank. What remains is how soon this information will be made public. 

Attention Kenyan Bloggers: Are you Spinning Hate Speech?

If you are a blogger and you are spinning hate speech then know iHub research is trolling the blogosphere checking out for  instances of hate speech. The research is not exclusive to blogs only BUT also extends to social media platforms [Facebook and Twitter] through their Umati [crowds] project. So now you know.

Mulika MPigs: The MP’s who voted for the retirement Package

The economist visualization of legislatures pay around the world

Kenyan are angry with their members of Parliament and rightly so.. Our MP’s are taking us for fools by one having a remuneration package beats what MPs in the developed world are paid. In one of their audacious moves they moved and passed unto themselves a gratuity or retirement package.

So naturally a ‘few’ emails have been going round and the one that caught my eye was this;

Is your MP among these bandits who voted for the villainous bill?

This email goes on to name all the MP’s who voted to pass this package. Their names are listed below

1. Abdalla Amina Ali.
2. Abdi Nasir.
3.  Abdul Bahari.
4. Abu Mohamed Chiaba.
5. Adan Keynan Wehliye.
6. Alex Muthengi Mburi Mwiru.
7.  Andrew Calist Mwatela.
8. Asman Abongotum Kamama.
9. Atanas Manyala Keya.
10. Bare Aden Duale.
11. Barnabas Muturi C. Mwangi
12. Beth Wambui Mugo.
13. Bifwoli, Wakoli Sylvester.
14. Boni Khalwale (Dr.)
15. Cecily Mutitu Mbarire.
16. Charles Cheruiyot Keter.
17. Clement Muchiri.
18. Daniel Mutua Muoki.
19. David Njuguna Kiburi. 
20. Elijah Kiptarbei Lagat. 
21. Emilio MureithiKathuri. 
22. Empraim Mwangi Maina. 
23. Erastus Kihara Mureithi. 
24. Esther Murugi Mathenge. 
25.  Ethuro, David Ethuro. 
26. Eugene Ludovic Wamalwa.
27. Francis Chachu. 
28. Francis S. K. Baya 
29. Frankilin Mithika Linturi. 
30. Githae Robinson Njeru. 
31.  Githu Muigai (Prof.) Attorney General Ex-Officio. 
32.  Hellen Jepkemoi Sambili. 
33. Hussein Mohamed Abdikadir. 
34. Hussein Tarry Sasura. 
35. Ibrabim Elmi Mohamed. 
36. Isaac Kiprono Rutto. 
37. Isaac Mulatya Muoki. 
38. Jackson Kiplagat Kiptanui. 
39. James G. Kwanya
40. Jamleck Irungu Kamau. 
41. Japhet M. Kareke Mbiuki 
42.  Jeremiah Ngayu Kioni. 
43.  John Michael Njenga Mututho. 
44. Johnson Nduya Muthama.
45. Joseph Nganga Kiuna. 
46. Josephat Nanok Koli. 
47. Joshua Serem Kutuny.
48. Kilimo, Linah Jebi. 
49. Kilonzo Charles Mutavi. 
50. Kiunjuri, Festus Mwangi. 
51. Kuti, Mohammed. Abdi 
52. Lee Maiyani Kinyanjui. 
53. Lenny Maxwell Kivuti. 
54. Lewis Nguyai. 
55. Mahamud Muhumed Sirat. 
56. Maitha Gideon Mungáro. 
57. Manson Nyamweya. 
58. Mbau, Elias Peter. 
59. Mohamed Hussein Ali. 
60. Mohamed,Muhamud. 
61. Moses K. Lessone 
62. Moses Somoine ole Sakuda. 
63. Mungatana, Danson. 
64. Munya Peter Gatirau. 
65. Musila, David. 
66. Mutava Musyimi. 
67. Mwalimu Masudi Mwahima. 
68. Mwiria, Valerian Kilemi.
69. Ndambuki, Gideon Musyoka. 
70. Ndiritu Muriithi. 
71. Nemesyus Warugongo. 
72. Ntoitha M"Mithiaru. 
73. Peter L.N. Kiilu 
74. Peter Mungai Mwathi. 
75. Peter Njoroge Baiya. 
76. Peter Njuguna Gitau. 
77. Richard Momoima Onyonka. 
78. Robert Onsare Monda. 
79. Samuel Kazungu Kambi. 
80. Shaban, Naomi Namsi. 
81. Silas Muriuki Ruteere. 
82. Tirus Nyinge Ngahu. 
83. Wavinya Ndeti. 
84. William C. Kipkiror
85. Yakub Mohammad
86. Yusuf Hassan

The good news is that the president refused to ascent to this piece of legislation. But that is NOT the end of it because it still has to go back to parliament and should 2/3 of the MP's voted for it. Then it becomes law and the MP's get to retire with tax payers money.

Book Launch: South Sudan - from revolution to independence, Oct. 19 2012 @ British Institute In Eastern Africa

Book Cover: South Sudan - from revolution to independence

Date: Friday October 19, 2012
Venue: at the British Institute In Eastern Africa

Location: Laikipia Road, Kileleshwa.

Time: 6 - 8pm

Entry: Prior Reservation [seminars@biea.ac.uk]

In July 2011 the Republic of South Sudan achieved independence, concluding what had been Africa’s longest running civil war. The process leading to independence was driven by the Sudan Peoples’ Liberation Movement, a primarily Southern rebel force and political movement intent on bringing about the reformed unity of the whole Sudan. A story of transformation and of victory against the odds, this book reviews South Sudan’s modern history as a contested region and assesses the political, social and security dynamics that will shape its immediate future as Africa’s newest independent state.

About the Author

Matthew LeRiche is a Fellow in Managing Humanitarianism at LSE. He will be launching his book in Kenya which will be prefaced by a few words on the importance of South Sudan to both academicians and practitioners followed by an exposition of the book.

An interlocutory session with the audience will follow thereafter and copies of the book will be available for sale.

Opinion: The selection of three fellows for 1beat Program is evidence of #Kenya’s rising status as a cultural hub

One Beat Festival

What happens when you bring musicians from different continents in one country for a tour and residency program? Well, you have yourself smart power and that is what the United States of America has been up to of late. This is through the 1beat program that brought together 32 fellows from 21 countries to the US for tours and residency program.

What is 1beat?

OneBeat 2012 from Found Sound Nation on Vimeo.

OneBeatSM is an international music exchange that celebrates musical collaboration and social engagement through innovative people-to-people diplomacy. From September 10 – October 7, a group of exceptional young musicians from around the world will collaboratively write, record, produce, and perform original music in venues ranging from concert halls to city parks to rock clubs.  In addition to creating new work, OneBeat Fellows will partner with community organizations, schools, and socially-engaged local musicians to offer workshops, performances, and public dialogues.

Which Musicians Represented Kenya

Kenya is a bastion of sports especially track races and marathons but what is now emerging is that Kenya is also rising as a cultural hub. This is evident in selection of three Kenyan musicians out of eight who represented Africa. The musicians who represented Kenya are;

1. Nina Ogot: http://www.1beat.org/artists/nina-ogot/
2. Muthoni the Drummer Queen: http://www.1beat.org/artists/muthoni-ndonga/ and
3. Kato Change: http://www.1beat.org/artists/kato-change/

Other countries represented are Democratic Republic of Congo (with two musicians), Nigeria, Mozambique and Senegal each with one representative.

Check the photos and updates from 1Beat tour on their Facebook page

This post was first published on NairobiNow

Karim Sadek MD Citadel Capital at #Mindspeak on Sept. 29 2012 @ Intercontinental Hotel

Mr. Karim Sadek gave a very insightful presentation at Mindspeak which touched on Citadel Capital activities in this region.

In his candid presentation ‘the role of private sector in accelerating development’ he opened Citadel Capital up to the public. This is the story of Citadel Capital in figures

• It has $ 9.5 Billion in investments under control as of end year 2011
• $ 940 Million in Principal investments
• Operates in 15 industries: from Agriculture, Financial Services to energy distribution
• Has 19 specific funds as per end year 2011

Sadek also espoused Citadel capital track record and their business model. However, what was most insightful we’re his observations on African investment climate. From his position, managing a capital fund, he was of the view that of late Africa has been attracting substantial interest from the rest of the world. However, writing of Cheques for Sub Saharan Africa outside oil and gas is still lacking.

Egypt before and after the revolution

Since Citadel is head office is in Cairo we got a business 101 on Egypt. Kenya Association of Manufacturers (KAM) has been in the news complaining of imports from Egypt which are substantially cheaper than Kenyan products because of power/energy subsidies. Well the good news for KAM is the regime of subsidies is coming to an end in Egypt.

The other interesting piece of information from Sadek was insights before the Arab spring. Citadel Capital was two weeks to finalizing a deal for a stake in Egyptian Refining Company before lady liberation came calling. Also, the change in attitudes and perceptions in Egypt, this days young people have no respect for authority. The other interesting insight was the East Africa compared to Egypt had better industrial relations. Egypt is now in the initial process of coming up with an independent workers union.

Citadel’s interest in Kenya

Citadel interest in Kenya came through an opportunity that presented itself in Rift Valley Railways [RVR] which won a 25 year concession on Kenya-Uganda Railway. After the turbulent times RVR has been through it seems with the entry of citadel capital the century old railway is up to some good times ahead.

The Preposition

Citadel capital together with its partners came up with a $ 300 Million preposition to turn around the railway in the next five years. Under the three point turn around based on;

1. Upgrade of operationn
2. Rehabilitation of existing assets
3. Additional of new assets [2014 onwards

Some of the Partners in this Turn around Endeavour

Prominent names stand out in this deal which means this is a success story in the making. These institutions underwriting the success of our railway are;

• African Development Bank
• KfW Entwicklungsbank (Germany)
• International Finance Corporation
• FMO (Dutch)
• Equity Bank (Kenya)
• ICF Debt Pool
• BIO (Belgium)

This here might be the next success story in Kenya if Citadel Capital can hack it.

Tech/Video: Why Kenyans do it better by Alexander Oswald

Listening to Alexander Oswald presentation at TEDxVienna titled Why Kenyans do it better one gets an impression that we are doing some things right. Well... apart from tourism. The part where he talks about beach boys.