FUSION CAPITAL D-REIT OFFER OPENS AT SH23 A UNIT, SEEKS TO RAISE SH2.3 B

Minimum holding put at Sh5 million in funds drive for Meru property project

Luke Kinoti, Fusion Capital Group CEO

The public offer for the Fusion Capital D-REIT (Development Real Estate Investment Trust) opened today with some 100 million units going on sale at Sh23 each.

Investors in the Fusion Capital D-REIT, the first of its kind in the Kenyan market, will be required to invest in a minimum holding of five million shillings. This means that the offer is open to “professional investors” only.

The Sh2.3 billion offer opened at 08h00 this morning and will close at 17h00 on July 15^th, 2016. Applications for subscription will then go through an allotment process with a subsequent listing of units on the Nairobi Securities Exchange (NSE) on July 28. The overall total project size is Sh 3.7 billion.

Cash raised through the offer will be used to develop Greenwood City, an upscale, high potential development in Meru, Meru County which comprises a shopping mall, an upscale office block and apartments. The project was conceptualized to provide first-class shopping and executive residential accommodation for a growing and vibrant middle class and Grade A office space for firms doing business in the region.

A D-REIT is a tax-efficient, listed collective investment instrument that allows investors to pull capital to develop large scale real estate units. Investors benefit from capital appreciation during the listing and construction window. The units in the REIT are traded on the NSE like any other listed security. Investors can also realize capital gains on exit through sale of the property. In the case of Greenwood City, the asset will be sold at a yield in September next year. The D-REIT is a closed-ended fund, which means investors can only exit through the secondary market at the NSE.

Commenting on the offer, Luke Kinoti, Fusion Capital Group CEO, said: “We are delighted to be the first to give other investors a chance to access development returns in Kenya by investing in property development through a D-REIT. We bring to the table the requisite experience in property development to deliver on this promise.”  

The Fusion Capital D-REIT would give investors a chance to invest in Kenya’s growing property market through a tax efficient, strictly regulated and listed asset class. Listing would help in price discovery and engender liquidity, while giving investors a window to exit and enter. The other advantage is that the project is already off the ground, with at least 38 per cent of the project (Sh868 million) pre-funded.

Commending Fusion Capital for the fete, NSE Chief Executive Mr. Geoffrey Odundo said, “This is another opportunity for our investors to diversify their portfolio, Coming barely six months after we launched the first REIT in the market, we are confident that the new instrument will go a long way in quenching the thirst for Real Estate Investment in this market.”

“Since devolution, the real estate industry has been steadily growing with continuous opportunities in new projects in various counties,” explained Mr Kinoti.

Buoyed by sustained demand for residential, commercial and other stock, Kenya’s property market has been on an upward trajectory for over a decade now; a major driver of economic growth and contributor to the country’s Gross Domestic Product (GDP). Data from the Central Bank of Kenya shows that the Construction sector has remained a major driver of real GDP growth. The Construction sector is credited with the highest growth rate during Q3 of 2015 at 14.1 per cent.

LG PAVING THE WAY FOR INNOVATIVE TECHNOLOGY

The rapid growth of technology over the years has significantly brought an enhancement in the way we live and grow with together with our surrounding. 200 years ago, one couldn’t picture how technology would have a major impact on our day to day lives from using the elevator to turning on a light bulb.

Although technology is a double edged sword, rapid advancement in healthcare technology has brought about the improvement in healthcare and living.  This has been brought about by developing smart, consumer-centric solutions that apply the latest innovations to solve real-world health problems, such as the use of Skype that helps doctors improve medical attention for those living in remote areas.

With such innovative ideas on the rise, LG has definitely been one of the few companies that have been on the fore front in creating eco-friendly and consumer friendly products as seen below.

The introduction of washing machines as a replacement for manual labor gave us a helping hand in cutting back time and takes care of the hard work that comes with it such as; better smelling clothes and more hygienic clothes as compared to hand washed clothes. The LG Twin Wash brings advancement from the common washing machines in that it can be able to simultaneously wash multiple loads with different settings and saves users time and money with LG’s Inverter Direct Drive Motor which is backed up by a ten year warranty.

With no doubt, one main aim of LG’s goals is having consumer focused products. The LG Styler is tailored to meet consumers’ needs, by having steam cleaning functions available. This is great for families and especially children as it the machine is able to eliminate bacteria from children’s toys, blankets and clothes which promotes health in the home.

 Food safety is of the utmost importance when considering health in the home.  For instance, LG’s microwaves ensures that food and health are in line together by using linear power control between 200 to 1200 watts to evenly cook or defrost all the way through. It also ensures it locks in nutrients helping users prepare healthier dishes.

Moreover, a healthy kitchen not only has the best cooking options but also food storage solutions. LG’s refrigerators are designed to keep users food safe and more organized. The Door-in-Door feature allows one to open selected compartments to grab what one requires greatly reducing cold air loss and keep food fresher for longer.

 Vacuuming of the house should be done at least once a week and as often as possible in some areas for effective cleaning. Despite this, one isn’t able to undertake such functions due to various commitments.  Able to run complex cleaning routines independent of user supervision, the HOM-BOT Turbo+ is able to undertake vacuuming functions without any supervision through use of a smartphone-compatible augmented reality interface.

This brings about health boosting solutions without one being in presence and saves on time. More to it, the Turbo+ is able to use its cameras to enhance security by employing its cameras which relay live video to the users’ smartphone bringing about smart monitoring of your home.

Redhouse Group Launches Digital Marketing Mentorship Program

Eugene Omolo, General Manager for Redhouse Digital speaking during #RedNerds Launch

Integrated Marketing and Communication powerhouse, Redhouse Group, has kicked-off a mentorship initiative to deepen digital communications skills across its     100-plus talent force through monthly digital boot camps, dubbed #RedNerds. Redhouse Group is tapping specialist resource from its vast global Omnicom network, to which it is affiliated.
Redhouse Group represents network agencies - TBWA, BBDO, Digital Arts Network (DAN) and Ketchum in Kenya and East Africa. Speaking at the RedNerds launch, Eugene Omolo, General Manager for Redhouse Digital said the mentorship initiative is spurred by the reality that today’s communication campaigns are driven by online influence working in perfect collaboration with offline influence.
“The evolution of technology over the last two decades has drastically changed the way brands and businesses execute their communication. The most effective campaigns integrate the best of traditional and online channels and influencers to deliver holistic story-telling strategies. Increasingly, consumers have unfettered access and interaction with products and brands and their information via digital channels and devices, demanding the adaptation of digital to support all traditional campaigns.
This initiative will also encourage the Redhouse Group community to nurture skills that will enable them grow as digital professionals and influencers in both the online and offline sphere. “The influencers will work hand in hand with creative and content experts in this specialty with a goal of growing them and their influence in social media  activity” added Eugene.
There are over 4 million social media users in Kenya with Facebook commanding the largest share estimated at 3.8 million, followed by Twitter at 1.7 million users. Kenya, emerged 4th in Africa in a ranking of countries whose citizens tweeted most in 2015, with 76 million geo-located tweets.
Statistics from Cisco Systems – a worldwide leader in IT, estimates that global mobile data traffic grew by 74 percent in 2015. However, growth rates varied widely by region, with Middle East and Africa having the highest growth rate (117 percent) followed by Asia Pacific (83 percent), Latin America (73 percent), and Central and Eastern Europe (71 percent).

LG GOES 360 DEGREES TO SUPPORT HERITAGE CONSERVATION THIS WORLD ENVIRONMENT DAY

Eiffel Tower 360

LG Electronics (LG) is adding wider perspective to its sustainability credentials this World Environment Day (WED), using immersive 360-degree video to highlight the importance of protecting UNESCO World Heritage Sites (https://youtu.be/6JTdq9D4tVk). Employing the versatility of the LG 360 CAM, the two minute 360-degree video depicts famous landmarks in a new light and serves as a call-to-action for viewers to play a more active role in protecting the valuable heritage around them.

World Environment Day on Sunday, June 5 is the United Nations’ most important day for encouraging worldwide awareness and action for the protection of our environment. LG employees across the world will also participate in various volunteer activities today to show solidarity with the goals of UN World Environment Day since 2010.

Great Wall 360

The immersive power of 360-degree video takes viewers beyond the limitations of their devices and provides an exciting glimpse into the future of interactive content. Featuring key landmarks such as the Statue of Liberty, Eiffel Tower, Red Square, Great Wall of China, Sydney Opera House, and Seoul Changdeok Palace, the video aligns with the growing demand on social media for VR content. Immersive 360-degree images and videos on leading social media platforms are expanding at an exponential rate. Facebook reported that over 20,000 360-degree videos have been uploaded since the format was first supported, with hundreds more being added each day.

Each site was captured in 360 by LG employees using the 360 CAM. The LG 360 CAM features two 13 MP cameras which combine to capture images and videos from all directions. The camera’s small size and light weight make it extremely portable, while its long-lasting 1,200 mAh battery gives users the ability to shoot up to 70 minutes of video between charges. The LG 360 CAM gives consumers a vital tool for pushing creative boundaries forward and capturing fuller, richer content.

Red Square 360

“The United Nations’ World Environment Day represents a time to come together and protect what matters most,” said Lee Choong-hak, executive vice president and head of LG’s Business Support Office. “By using these advanced tools to capture the world’s most famous heritage sites from a new angle, we seek to inspire today’s citizens to protect these wonderful treasures for generations to come.”

Bamburi targets lower end of the market with Sh500,000 home solution

Bamburi cement has launched an affordable product aimed at delivering access to quality and affordable housing to the middle and lower end of the market.

The Home construction product, targeting lower to middle earners, will range from Sh500,000 to Sh5.2million. The solution is for residential homes-bungalows, maisonettes and incremental houses.

The product will also see customers access among other benefits, construction funding, architectural drawings, bill of quantities, technical assistance and construction advice.

The product is part of Bamburi cement’s affordable housing initiative dubbed Maskani developed to address the huge need for housing in Kenya. The annual housing deficit in Kenya is estimated at about 200,000 units.

“Maskani offers a seamless end-to-end building solution to our customers including on-site technical advice and tests using our mobile laboratory,” said Bruno Pescheux Bamburi cement Managing Director.

Maskani was introduced last year as part of a pilot ahead of formal launch.

“Currently, the Maskani initiative is being carried out in Nairobi and its environs to enable us gather as much understanding as possible with a plan to progressively expand into other towns in the second half of 2016,” added Mr. Pescheux.

They will also be linked to Bamburi’s countrywide network of reliable and convenient retailers of building materials.

The company’s decision is informed by the fact that most home builders have limited knowledge of the construction process and rely on personal networks or masons for advice.

The high rate of population growth (2.7%) and urbanization (4.4%) is driving the increased need for housing and infrastructure. According to the World Bank, 46% of the Kenyan population lives below the poverty line. This justifies the need for affordable housing initiatives.

In general, Bamburi’s affordable housing initiative covers housing finance, mass housing and alternative building systems like stabilized soil blocks.

Through the initiative, the company is looking to develop partnerships with various financial institutions including commercial banks, micro-finance institutions and SACCOs to provide construction finance to individuals.

“We are also looking to partner with developers and small/medium size contractors to roll-out mass housing projects,” concluded Pescheux.

Sixty Two Year Old Farmer Wins 20 Million Betway Jackpot

BETWAY Jackpot Winner Joseph Onyera Agumba with BETWAY Country Manager Ms. Wanja Gikonyo

Joseph Agumba, a 62 year old farmer from Kisumu County, has been enjoying the thrills of sports betting since Betway launched in Kenya late last year. His excitement hit fever pitch as he recently bagged a staggering KSh20 million in one of Betway’s Jackpots.

An elated Agumba, flanked by his loving family, received his Jackpot cheque from Betway at his home in Kisumu County.

By correctly predicting the outcomes of 13 football matches listed by Betway last week, Agumba joins a growing list of Jackpot winners in Kenya.

“I’ve been betting with Betway for a while and despite getting close a couple of times, I never really expected to win. To me, the Jackpot is the pinnacle,” he said.

Presenting the cheque to Agumba, newly appointed Betway country manager for Kenya Wanja Gikonyo said, “Betway believes that Joseph Agumba’s life will be transformed in tandem with the company’s goal of improving people’s lives. Beyond his win, we will provide him with a financial advisor to offer specialist advice on how to manage the money.”

Agumba, excited with his winnings, is now able to focus on future prospects. He plans to use the money to develop one of his plots in Kisumu City and also open up a business to meet the needs of his community. Furthermore, a large share of his winnings will go to ensuring that his children receive the best possible education.

Since its launch in late 2015, Betway Kenya has doubled its subscriber base, growing in leaps and bounds as it looks to make the dreams of sports betting fans a reality.

Betway appoints Kenya Country Manager

Ms. Wanja Gikonyo Betway Kenya Country Manager

Leading international bookmaker Betway, has announced the appointment of their new Country Manager for Kenya, Wanja Gikonyo.

Ms. Gikonyo will take the lead with the responsibility of setting up and driving Betway’s sports betting operations throughout Kenya as well as ensuring the growth of the company as a whole.

Her experience in such roles is well founded. Prior to taking up her new position, Ms. Gikonyo worked for mobile aggregation and content services company, Integrat where she worked as Country Manager for Kenya since 2008.

With over 15 years’ experience in the telecommunications industry at a managerial level, she is well suited to the task at hand. Her prior appointments include positions in AccessKenya as Business Development and Regional Affairs Manager, Adwest Communications Limited as Marketing Manager and Denwa Communications Pty (SA) as Program Manager VOIP.

Commenting on the appointment, Betway global CEO Richard Akitt is quoted in saying, “Wanja brings valuable know-how to Betway and will be an asset to the management team. Her vast experience will be invaluable as we look to continue investing in the development of a vibrant and responsible betting industry in Kenya.”

She studied at University of Maryland, College Park, MD Robert H. Smith School of Business and received an MBA in International Finance. She also holds a Bachelor of Science (BSc) degree from James Madison University, Harrisonburg, Virginia, USA.

On her new position Ms. Gikonyo had this to say, “I am excited to be taking on this role; it presents a good opportunity for me to contribute to the uplifting of sport in Kenya. From my position I can have a positive social impact all the way down to grassroots levels, all while providing an exciting platform to customers across the country to bet for their favorite sports leagues and teams from anywhere, at any time.

Sports betting has become a very popular activity in Kenya. This can be attributed to the rise of mobile networks and the increasing access to technology that people now have, allowing them to bet online.

According to Kenya Economic Survey 2016 the number of licensed Internet Service Providers (ISPs) increased by 24.9 per cent from 177 in 2014 to 221 in 2015. Estimated internet users also expanded by 35.9 per cent to 35.6 million users over the same period. Total wireless internet subscriptions increased by 45.4 per cent to 23.8 million with the terrestrial mobile data subscribers having the largest share.