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Nation to Launch Eight Tourism Sites Development Under ‘Dine for Generation’

Prime Minister Abiy Ahmed disclosed that the development of eight tourism sites in different parts of the country will be launched soon under ‘Dine for Generation’ initiative.

Responding to questions raised by a member of parliament this morning, Prime Minister recalled that the government of Ethiopia has made tremendous achievements on the ‘Dine for Sheger’ and ‘Dine for Nation’ initiative.

Recall the construction of three projects being underway at Wonchi, Gorgora and Koysha, respectively, in Oromia, Amhara and Southern Nations, Nationalities and Peoples (SNNP) regional states under ‘Dine for Nation’ initiative.

The 3rd flagship ‘Dine For Generation’ initiative, will be launched at Geralta, in Tigray, Hayk, in Amhara, Jimma, Oromia, as well as Arbaminch, in SNNP, and in Afar and Somali regions, while two other private investments will be launched in Beninshangul Gumuz and in South West Region, Abiy stated.

The premier added that so far, five billion birr has been collected for the projects in less than a month.

Abiy pointed out that the projects will greatly stimulate Ethiopia’s tourism activity, enabling citizens to benefit more from the sector.

He called on Ethiopians to support for the success of the projects.

Source: Ethiopian News Agency

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The Financial Sector Showing Healthy Growth, Says PM Abiy

The performance of the financial sector in Ethiopia has been showing positive growth over the past six months, Prime Minister Abiy Ahmed stated.

Presenting his government six month performance report to the House of Peoples’ Representative today, the premier stated that the total loans provided by banks over the past six months has reached 172 billion Birr.

The banks have also collected a total of 311 billion Birr during the stated period showing a 100 percent growth compared to same period last year, he said.

According to him, 90 percent of the total loan was extended to the private sector in the country which is very important as it expedites the ongoing development efforts of the nation.

The agricultural sector projects have received some 92 billion Birr loan during the stated period which shows a 29 percent increment compared to the same period last year, the PM added.

The loan provided to the agriculture sector is very encouraging though it has to be further strengthened in the future, he stressed.

Abiy also said that the financial sector has provided 39 billion Birr loans to Small and medium enterprises which is 36 percent bigger than the previous year same period.

The financial support provided to the small and medium enterprises will pave ways to creating more jobs to the citizens, the PM added.

The overall situation of financial sector in Ethiopia is health and showing encouraging growth. However, more caution is required for the financial sector as the sector at the global level has suddenly been showing failure, the Prime Minister pointed out.

However, the premier stressed the need to take more cautions on the overall situation of the financial sector by taking lesson from the failure of western banks.

In this regard, he urged the National Bank of Ethiopia and Finance Ministry to properly carry out their oversight activities as the health banks play key role in the national economy of the country.

Source: Ethiopian News Agency

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Some 40 Million Quintals of Wheat Under Harvest: PM Abiy Ahmed

Some 40 million quintals of additional wheat is being harvested in the Summer Wheat production activities across Ethiopia, Prime Minster, Abiy Ahmed said.

Responding to questions raised during the 11th regular session of the House of People’s Representative today, the premier said over a million hectares of land was covered by wheat seed.

During the main season the nation has produced bumper wheat production more than expected, he said.

The ongoing harvest will significantly increase the wheat produce in the market and also to export, the prime minister added.

According to him, due to the bumper harvest, for the first time Ethiopia didn’t import wheat from abroad.

It is to be recalled that PM Abiy himself has presided over the national wheat export launch program last month.

Source: Ethiopian News Agency

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KRA Gains More From Gaming And Betting Collections

Kenya Revenue Authority (KRA) today conducted a sensitisation forum on betting tax which aims to provide detailed insights and create awareness on betting tax, its impact on revenue mobilisation, integration with betting firms and compliance. The KRA’s Chief Manager Domestic Taxes Department Miriam Sila stated that the Betting Control and Licensing Board (BCLB) regulates the betting and gaming sector while working with other multi agencies to check on compliance of the companies. She disclosed that there are over one hundred and seventy firms licensed to operate in the country. ‘There are over fifty licensed Casinos in Kenya, most of which are in major cities. Blackjack, Roulette and Poker are among the most popular table games in Kenya,’ added Sila. Sila stated that the betting companies are required to register for tax through the iTax system which is a fully integrated and automated web-based system. The system allows taxpayers to register for various tax obligations and update their PIN registration details, file returns for various tax obligations, make status enquires with real-time monitoring of their ledger/account income and apply for waiver of penalties and interests. ‘The taxman boasts a gross turnover of Ksh50 billion. KRA has linked its systems with sixteen sports gaming firms and hopes to additionally merge with 20 more companies which will be equivalent to a 96 percent stake in the market,’ stated Sila. Sila affirmed that betting companies now remit taxes daily and are allocated to account managers who follow up on the payment by logging in each companies Payment Registration Number (PRN). She revealed that in the financial year 2021/2022, the taxman collected Sh21 billion, the highest amount recorded yet since the collection of betting and gaming tax. The Chief Manager said that KRA has estimated a target collection of Sh24 billion and that so far, the firm has collected Ksh15. 8 billion from betting, lottery and gaming. Sila added that Gaming is popular among the youth thus the proceeds received from withholding taxes are paid to sports, arts and social development fund which fund activities undertaken by youths. She noted that there are various challenges in the industry including coordination with BCLB whose work is still manual, balancing tax collection and protection of the youth through harmful gambling activities and lobbying power from the sector players to change laws. Sila said the industry has come up with strategies to ensure compliance within such as conducting tax payer engagement to educate them on any new tax laws, liaising closely with internal departments for intelligence gathering and data sharing from the regulator (BCLB) and other agencies to enhance motoring.

Source: Kenya News Agency

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Nakuru Ready To Host World Safari Rally Championships

Nakuru Governor Susan Kihika has assured that the county was fully prepared to host the World Rally Championship (WRC) Safari Rally that is coming to the country for the third time in a row. Governor Kihika said the county was ready to play its role in boosting domestic tourism, more so at a time when the country is recovering from economic aftershocks of the Covid-19 pandemic, adding that this year’s event was historical as it also marks 70 years since the WRC was first launched in the country. ‘The WRC is part of our heritage and we are ready to hold a memorable Safari Rally this year,’ Ms Kihika said. Last year the county signed a pact to keep the event in the World Rally Championship calendar until 2026. This year it is scheduled between June 22 and June 25. While noting that her administration was committed to promoting sports tourism Ms Kihika observed that Nakuru was once the spiritual home of sports and Langa Langa circuit, which she said was famous for bike and single-seater car races while the Rift Valley Motorsports Club at Solai and Mai Mahiu circuits still host kart racing, predominantly for young people. The fame of sports in Nakuru, Kihika noted, extends beyond motorsport with Nakuru Boxing Club said to have produced legends like Philip Waruinge, 1972 Olympics Silver Medallist and first Kenyan to turn professional, his brother Sammy Mbogua and 1978 World Amateur Boxing Championships winner Steve Muchoki. The Governor hailed the organizers of the Safari Rally for the selection of spectators’ stages which she said will help showcase to local and international visitors’ spectacular sites where they could also get to sample Naivasha’s hospitality and experience the Kenya safari as they troop to different spectator points. In a speech delivered on her behalf by County Executive Committee Member (CECM) in charge of Trade, Tourism and Cooperatives Mr Stephen Kuria, the Governor underscored the importance of the approved rallying routes, saying the rally drivers will have a great experience driving in the wild and sometimes having to stop to give way to wild animals. She said the county government will continue to upgrade the necessary infrastructure to enhance visitors’ experience along all the rally routes. The tourism CECM revealed that besides the WRC the county was set to host the Love Festival in September in Naivasha adding that hospitality industry stakeholders should leverage on the two events, expected to attract thousands of international and local visitors to boost the industry. CECM Kuria said Kenya is privileged and proud to host this event which is one of the Only 13 such world events that take place on the globe and will be watched by over two billion people worldwide which is incredible branding for the country. ‘We want to give a Kenyan flavour to this international event by introducing hustler bazaars to help Kenyans interact with the rally drivers as they make some money by selling Kenyan products.’ Mr Kuria said the County was working with the national Government in setting up special points for streaming the rally live throughout the country to help every Kenyan have a piece of the rally. The CECM was satisfied at the service venue in Naivasha and said they were working with the Transport Ministry to ensure traffic on the rally routes will be managed better than last year and observed that they had learnt vital lessons from last year’s event. Nakuru County Tourism Association Chairman David Mwangi noted that hosting of events of WRC Safari Rally calibre was a source of direct investment as well as a source of additional income for tourism. He said that direct investments in Naivasha will be accrued from hotels, leisure, fuel consumption, transport facilities, temporary employment and much more. Mr Mwangi pointed out that many hotels were still under construction in Naivasha at present as investors target more domestic and international tourists after the world governing body, FIA, extended the hosting of the WRC status event in Kenya to 2026. The organizers of the World Rally Championships (WRC) Safari Rally are expected to spend Sh5 billion on the event, with businesses set to reap big as drivers and more fans flock toNaivasha, in Nakuru County. Veteran Kenyan rally drivers such as Carl Tundo who is the chair of the organizing committee, Phenius Kimanthi who is also the chair of the Kenya motorsport Association and famous female rally drivers Pauline Sheghu will also be taking part in this year`s event. The Safari Rally was first held in 1953, as the East African Coronation Safari in Kenya, Uganda and Tanganyika as a celebration of the coronation of Queen Elizabeth II. In 1960 it was renamed the East African Safari Rally and kept that name until 1974, when it became the Kenya Safari Rally. It then evolved to the current modern-day WRC. Safari is currently the most popular event on the WRC calendar alongside the 1000 Lakes of Finland and Monte Carlo.

Source: Kenya News Agency

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KALRO Unveils Improved Chicken Breeds

The Kenya Agricultural and Livestock Research Organization (KALRO) has unveiled a superior indigenous chicken breed that is highly resistant to common diseases. The new KALRO improved KC3 breed is an upgrade of KC1 and KC2 chicken whose research over two decades ago indicated that it had the tolerant capacity when cross bred with other genetically improved varieties to produce economically positive results. Preliminary results indicated that the new improved indigenous chicken was expected to boost egg production with the ability to lay between 220-280 eggs per annually compared to about 80-100 eggs that wwas the case before the upgrade. KALRO Director- General Dr. Eliud Kireger told journalist at Kakamega that the high demand for one day old chicks in the country was a challenge forcing the institution to diversify outlets in other counties to bridge the deficit. In a speech read on his behalf by the KALRO Director in charge of livestock systems Dr. Samwel Mbuku, the Director General said a new 2000 bird capacity breeding and multiplication was established at the Kakamega centre to meet the national daily demand of over 2 million one day old chicks. He said an additional 19,000-egg capacity hatchery, with a capacity to supply at least 34,000-day-old chicks’ montly, up from 3,000 was put in place to boost production. ‘Currently, our annual production of day-old chicks stands at 600,000 compared to a national demand of over 2 million chicks per year’ he said. ‘We are proud to have a new 2000 bird capacity breeding and multiplication house constructed at a cost of 5 million shillings with joint funding from the European Union and the Government of Kenya through Climate Smart Agricultural Productivity Project (AgriFI CS)’ added Dr. Kireger. The Principal Secretary State Department for Livestock Harry Kimutai said Poultry is one of the most important enterprises in rural poor households’ food and nutrition security. ‘Apart from poultry meat, 1,716 million eggs from poultry are also produced annually valued at 10.3billion shillings’. ‘The industry has fairly well-developed inputs and services provision along the value chain’ he added. The PS, in a speech read on his behalf by director of administration in the ministry Joseph Chepchieng, however, expressed concern over importation of raw eggs from neighbouring countries blaming it on underdeveloped markets and unstructured marketing systems that impact negatively on the industry leading to its underperformance. ‘Indigenous chicken is an integral part of rural farming systems where it provides food and nutrition security as well as income to resource-poor smallholders, where options for generating income are limited’ he said. The PS hailed KALRO for conducting research on the development of technologies, innovations, and management practises to improve productivity of indigenous chicken. KALRO poultry researcher Dr. Anne Wachira said in response to the unique consumer demands in the Western region for a brown improved chicken, they introduced a brown variant, the KC3, as opposed to black KC 1 ‘This brown variant has similar production characteristics to KC1 and KC2, with the main difference being the colour of the bird following concerns by farmers inWestern and other regions about the colour’ she added KALRO’s Non-Ruminant Research Centres in Kakamega and Naivasha are selling day old chicks at Sh100 while a tray of 30 fertile eggs go for Sh1000. Breeding cocks are sold at sh1200. Speaking at the function, the KALRO National Project Coordinator George Keya said the organisation has received a total funding of 800 million shillings, with 650 million shillings and 150 million from European Union (EU) and Kenya Government to undertake various researches across all the KALRO institutes across the country.

Source: Kenya News Agency

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Wood Mackenzie appoints new Chief Financial Officer

Simon Crowe, formerly of ERM, brings sustainability and energy industry experience

Headshot of Simon Crowe

Headshot of Simon Crowe, CFO at Wood Mackenzie.

LONDON and HOUSTON and SINGAPORE, March 27, 2023 (GLOBE NEWSWIRE) — Wood Mackenzie, a portfolio company of Veritas Capital, has appointed Simon Crowe to its global executive leadership team as Chief Financial Officer (CFO), effective 27th March.

Simon brings a wealth of experience in private and public companies in the US, Europe and Asia. He joins Wood Mackenzie after nearly five years as CFO of ERM, the world’s largest Sustainability and Environmental Consultancy where he played a key role in their rapid growth, diversification, and successful investment from KKR.

Commenting on Simon’s appointment, Mark Brinin, CEO of Wood Mackenzie said: “Simon is a commercially minded CFO, with a breadth of international experience, having worked with private equity backed ERM and companies listed on New York, London and European stock exchanges. He has strong financial management and strategic leadership skills. Simon’s diverse background in environmental consulting and global energy markets brings deep knowledge of our end markets. His considerable experience will benefit the future success of Wood Mackenzie. We are delighted that he has chosen to join us.”

“He is well qualified to help the team build on its decades of leadership and innovation in the energy industry. It is an exciting time to join Wood Mackenzie as the company is well positioned to expand and enhance the critical insights provided to its growing customer base across the entire energy and renewables value chain,” Brinin added.

Simon Crowe, CFO, commented: “I am really excited about joining the Wood Mackenzie team. The global energy, renewables and commodity markets are in transition to net zero and Wood Mackenzie has a new strategic partner in Veritas Capital. The world will be increasingly reliant on the critical insights, data and knowledge that Wood Mackenzie’s research and consulting teams have developed over the last 50 years. I am looking forward to working with a first-class global team and helping to drive the growth agenda.”

EDITOR’S NOTES
View the full Wood Mackenzie executive leadership team here.
Read the press release announcing Veritas Capital’s acquisition of Wood Mackenzie in February here.

For further information please contact Wood Mackenzie’s media relations team:
Sonia Kerr
+44 330 174 7267
Sonia.kerr@woodmac.com

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About Wood Mackenzie
Wood Mackenzie is a trusted source of commercial intelligence for the world’s natural resources sector. We empower customers to make better strategic decisions, providing objective analysis and advice on assets, companies and markets. For more information, visit: www.woodmac.com or follow us on Twitter @WoodMackenzie
WOOD MACKENZIE is a trademark of Wood Mackenzie Limited and is the subject of trademark registrations and/or applications in the European Community, the USA, and other countries around the world.

About Veritas Capital 
Veritas is a longstanding technology investor with over $40 billion of assets under management and a focus on companies operating at the intersection of technology and government. The firm invests in companies that provide critical products, software, and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. Leveraging technology to make a positive impact across vitally important areas, such as healthcare, education, and national security, is core to the firm. Veritas is a proud steward of national assets, improving the quality of healthcare while reducing cost, advancing our educational system, and protecting our nation and allies. For more information, visit www.veritascapital.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dc6a85fd-6cd6-4b57-b37d-ca7c25a9ea5b

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