Connect with us

Business

JKIA ranked 2nd fastest growing cargo airport in the world

Published

on

Loading...

https://www.capitalfm.co.ke/
The JKIA an emerging force and destination in the air cargo industry/FILE

, NAIROBI, Kenya, Sep 19 – Jomo Kenyatta International Airport is the 2nd fastest growing airport in the word cargo ranking.

This has been revealed in the Airports Council International (ACI) latest World Airport Traffic Report, which highlights top airports for passengers, cargo and aircraft movements and showcases the world’s fastest-growing airports for 2018.

JKIA was ranked 2nd in the ‘Fastest Growing Airports (Handing over 250,000 metric tons of air cargo)’ category, after handling over 342,000 metric tons of air cargo in 2018, a 25% growth from the what was reported in the year 2017.

JKIA has recently witnessed a significant boost in air cargo traffic to and from Europe, Asia, America, and most recently China and Australia.

This is what has culminated in JKIA being an emerging force and destination in the air cargo industry.

Through deliberate planning and embracing public and private sector participation, the airport has registered a steady transformation in the way air cargo is managed.

In the last few years, JKIA has seen the entry of several modern transit sheds, increasing its annual overall cargo to 1.2 million tons. Michell Cotts, a leading cargo, and logistics company is currently constructing its new shed at JKIA, once complete, the new development is expected to inject an additional annual capacity of 150,000 metric tons at the airport.

Loading...

Astral Aviation, a cargo airline operating from JKIA has in the last year acquired three Boeing 747-400 cargo aircraft to boost its freight capacity and expand its network.

“This award validates our ongoing efforts in improving facilities at the JKIA Cargo area. I would like to congratulate all our stakeholders for their collective and ongoing efforts in making this possible.”Andersen noted. “This is an exciting time for Kenya, the face of cargo is changing, and we are positioning JKIA as the premier cargo distribution center for online commerce companies in the region,” he added.

Comments

comments

Loading...
Continue Reading

Business

Equity Group Takes Over KSh2.1 Billion EA Cables Loan

Published

on

Loading...

Equity Group Holding has taken over KSh 2.1 billion East Africa cables loan. EA Cables 2018 financial report reveals a huge debt portfolio amounting to KSh3.55 billion owed to several lenders; Standard Chartered Bank Kenya $25.6 million, Standard Chartered Bank Tanzania $5.32 million, Ecobank Kenya $1.61 million, State Bank of Mauritius $2.85 million, and Credit Bank Kenya ltd $38,200.

The East African reports that Equity Group will refinance EA cables existing debt over a longer period thus reducing the monthly principal loan repayments. The transaction will allow EA cables to plow back cash flows into the business to return it to a strong financial footing.

READ ALSO: TransCentury to Delay Publishing Financial Reports.

Equity Bank will take over and restructure loans over a 10-year tenure. The gross loans acquired by Equity bank amounted to $20.46 million.

EA cables had delayed the release of the financial reports for the year ended 31 December 2019 citing debt restructuring negotiations. The savings from this transaction will be captured in the financial reports for the year 2019 expected to be released on July 31.

Loading...

RELATED

Debt Negotiations Delay Release of EA Cables Results

SBM Bank Withdraws EA Cables Liquidation Petition

Transcentury Intends to Delist from NSE

Comments

comments

Loading...
Continue Reading

Business

NSE appoints Kiprono Kittony as board chair following the resignation of Samuel Kimani

Published

on

Loading...

NAIROBI, Kenya, Jul 13 Nairobi Securities Exchange has appointed Kiprono Kittony as the board chair effective immediately.

Kittony replaces Samuel Kimani who resigned on July 13 after serving as the chairman of the NSE board since 2012.

“After a thorough process, the board of directors has appointed Kittony as the next chairman of the NSE,” NSE announced.

“Kittony takes over from Samuel Kimani who stepped down as chair of board on July 13, 2020 after holding the position for four years, he remains on the board as an independent non-independent director for one more year,”  reads NSE’s statement.

At the same time, NSE said Bob Karina will continue to serve as the Vice-Chairman of the Board for the next year.

In one of his social media accounts, Kittony thanked the board for having elected him to the position of chairmanship.

“I appreciate the confidence of the board of the NSE upon my election as Chairman this morning,” Kittony tweeted.

Kittony has been serving as a non-executive NSE board member in 2018.

Loading...

He also served as Kenya National Chamber of Commerce President for two terms since 2012 before he passed on the baton to the current President Richard Ngatia.

Advertisement. Scroll to continue reading.

He is a well-known personality in business leadership circles in Kenya as he also chairs the board of Radio Africa Group and the Chief Executive Officer Capital Realtime Limited.

Kittony also serves as the chair of the Credit Reference Bureau Kenya Limited, AAR insurance Limited, Mtech Limited.

He also serves on the Business Advocacy Fund board and also sits on the advisory council of the International fund for Health in Africa.

Comments

comments

Loading...
Continue Reading

Business

Safaricom, UNESCO and Eneza Education partner for Digital Mentorship Programme

Published

on

Loading...

NAIROBI, Kenya, Jul 13Safaricom has partnered with UNESCO, and Eneza Education to implement a digital mentorship programme for high school students interested in Science, Technology, Engineering and Mathematics (STEM).

The program involves working with role models and mentors to provide students with information on STEM subjects to enable them make informed career choices. Learners will get a chance to engage with tutors through programmes on local TV and community radio stations as well as through SMS via the short code 40291.

“We are implementing lessons picked during this COVID-19 pandemic to partner with other organisations to provide meaningful solutions for our customers via alternative channels. For this digital programme we are using our partnership with Eneza’s Shupavu 291 solution to give students access to mentors and information on STEM subjects via SMS”, said Peter Ndegwa, CEO, Safaricom.

Over 40 radio stations and a local TV channel will air the live shows during which students will be encouraged to send questions via SMS to 40291. The mentors and facilitators of the show will then send responses to each question as they engage the learners. The programme will run for the next 11 weeks.

“We are happy to be part of this project leveraging our existing Ask a Teacher platform on Shupavu 291 to adapt the mentorship solution. We believe that this will keep students connected to STEM in the face of this global pandemic irrespective of their gender and socio-economic backgrounds,” said Wambura Kimunyu., CEO, Eneza Education.

Loading...

“Through this project we hope learners will be able to nurture interest in STEM through the linkage between them and the role models in the STEM profession, through online interaction and the continual access to mentorship services. During this period of containment UNESCO has partnered with the Ministry of Education, the Kenya National Commission for UNESCO, the National Commission for Science Technology and Innovation (NACOSTI) and Safaricom to provide students with information on STEM Education and life and survival skills to enable then overcome gender stereotypes about STEM careers, hence developing interest in science related subjects while learning from home,” said Ann Therese Ndong-Jatta, Regional Director, UNESCO.

Statistics show that only 22 percent of all students who are enrolled in Kenyan universities are in STEM fields despite a large number of related programmes on offer and the critical role they play in development.

Comments

comments

Loading...
Continue Reading
Advertisement
Loading...
Advertisement
Loading...

Trending