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Winning big contracts cements firm’s reputation

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Dalbit Petroleum staff
Dalbit Petroleum staff in a past school event, which was part of giving back to the community. FILE PHOTO | NMG 

Energy solutions services provider, Dalbit South Sudan, announced last week that after a competitive bidding process, it had won two petroleum products supply contracts amounting to approximately $7.9 million (Sh797m) with the World Food Programme (WFP).

This is a huge milestone for the company, which can now take advantage of the award to win other big contracts.

Dalbit South Sudan’s new supply contracts are in Gulu, Northern Uganda and Goma, in the Eastern part of the Democratic Republic of Congo valued at $ 6.8 million and $1.1 million, respectively and it will see the company supply jet fuel to the WFP bases.

The WFP is a humanitarian agency that delivers food assistance to more than 80m people every year in over 80 countries, therefore, it needs fuel to power its air transport in order to visit all these countries.

“Dalbit is excited that we have secured the contract to supply WFP as it goes hand in hand with our commitment to fuelling regional growth across the economic and social development fronts,” said John Paul Ogondi Dalbit International South Sudan Country Business Manager.

The company operates four depots in Juba, Rumbek, Wau and Bor with a storage capacity of more than six million litres for Gasoil and Jet-A14. Its fuel products are transshipped through Kenya and Uganda to reach South Sudan.

In Gulu, the firm has completed the construction of a new operating depot with a capacity to hold more than 720,000 litres of Jet A1 products. It is also building a depot in Goma to facilitate the smooth execution of the tender. The operations will include a compact refueling bowser configured to serve various types of aircraft.

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By clinching and successfully executing such high-profile supply contracts, Dalbit could set the stage for more big business going its way. When a company executes a contract effectively, it builds a good reputation in the market, which enables it to win more contracts.

“In the corporate world, a number of contracts are won through referrals which a good testament on the work delivered to previous clients. However, winning a contract through a competitive bid process means all eyes in the industry are on the company to see if it will deliver and if it does, it gives it an advantage when trying to win a new client,” said Stella Kimani, a brand strategist.

Indeed, an example of a company that has won several contracts due to its ability to deliver good service is CrowdTwist, a US company that deals with patented multichannel loyalty and engagement solutions.

One of its biggest contracts was in 2014 for the television singing programme, X Factor in the US.

The program heads were looking for ways to engage viewers before, during and after the show thus it employed the services of CrowdTwist to increase social media activity and drive up downloads of the show’s mobile application.

Using the CrowdTwist platform, it provided its viewers with reward programs when they signed up such that they would earn points depending on how they interacted with the show including visiting the website, watching the pre-show, voting online for the contestants and downloading the app among other interactions.

This resulted in 250,000 consumers sign us, 187,500 mobile app downloads and more than 125,000 of them interacted with the show on social media weekly. The platform drove and measured the effectiveness of almost 10m social media impressions across platforms.

With these results, it has since won contracts with beverage company Pepsi, food and drink company, Nestle as well as fashion design house, Steve Madden among other companies, for the same services.

“The hardest deal to win is the first one but once a company converts a prospect into a client, it gives an immediate form of confidence and is a form of social proof that the company can handle its contracts. This will then lead to the company winning it next big client, past behaviour is the best indicator of future behaviour,” said Irving Fain Co-Founder, in a 2014 interview with Forbes Magazine.

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World Bank pushes G-20 to extend debt relief to 2021

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World Bank Group President David Malpass has urged the Group of 20 rich countries to extend the time frame of the Debt Service Suspension Initiative(DSSI) through the end of 2021, calling it one of the key factors in strengthening global recovery.

“I urge you to extend the time frame of the DSSI through the end of 2021 and commit to giving the initiative as broad a scope as possible,” said Malpass.

He made these remarks at last week’s virtual G20 Finance Ministers and Central Bank Governors Meeting.

The World Bank Chief said the COVID-19 pandemic has triggered the deepest global recession in decades and what may turn out to be one of the most unequal in terms of impact.

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People in developing countries are particularly hard hit by capital outflows, declines in remittances, the collapse of informal labor markets, and social safety nets that are much less robust than in the advanced economies.

For the poorest countries, poverty is rising rapidly, median incomes are falling and growth is deeply negative.

Debt burdens, already unsustainable for many countries, are rising to crisis levels.

“The situation in developing countries is increasingly desperate. Time is short. We need to take action quickly on debt suspension, debt reduction, debt resolution mechanisms and debt transparency,” said Malpass.

ALSO READ:Global Economy Plunges into Worst Recession – World Bank

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Kenya’s Central Bank Drafts New Laws to Regulate Non-Bank Digital Loans

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The Central Bank of Kenya (CBK) will regulate interest rates charged on mobile loans by digital lending platforms if amendments on the Central bank of Kenya Act pass to law. The amendments will require digital lenders to seek approval from CBK before launching new products or changing interest rates on loans among other charges, just like commercial banks.

“The principal objective of this bill is to amend the Central bank of Kenya Act to regulate the conduct of providers of digital financial products and services,” reads a notice on the bill. “CBK will have an obligation of ensuring that there is fair and non-discriminatory marketplace access to credit.”

According to Business Daily, the legislation will also enable the Central Bank to monitor non-performing loans, capping the limit at not twice the amount of the defaulted loan while protecting consumers from predatory lending by digital loan platforms.

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Tighter Reins on Platforms for Mobile Loans

The legislation will boost efforts to protect customers, building upon a previous gazette notice that blocked lenders from blacklisting non-performing loans below Ksh 1000. The CBK also withdrew submissions of unregulated mobile loan platforms into Credit Reference Bureau. The withdrawal came after complaints of misuse over data in the Credit Information Sharing (CIS) System available for lenders.

Last year, Kenya had over 49 platforms providing mobile loans, taking advantage of regulation gaps to charge obscene rates as high as 150% a year. While most platforms allow borrowers to prepay within a month, creditors still pay the full amount plus interest.

Amendments in the CBK Act will help shield consumers from high-interest rates as well as offer transparency on terms of digital loans.

SEE ALSO: Central Bank Unveils Measures to Tame Unregulated Digital Lenders

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Scope Markets Kenya customers to have instant access to global financial markets

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NAIROBI, Kenya, Jul 20 – Clients trading through the Scope Markets Kenya trading platform will get instant access to global financial markets and wider investment options. 

This follows the launch of a new Scope Markets app, available on both the Google PlayStore and IOS Apple Store.

The Scope Markets app offers clients over 500 investment opportunities across global financial markets.

The Scope Markets app has a brand new user interface that is very user friendly, following feedback from customers.

The application offers real-time quotes; newsfeeds; research facilities, and a chat feature which enables a customer to make direct contact with the Customer Service Team during trading days (Monday to Friday).

The platform also offers an enhanced client interface including catering for those who trade at night.

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The client will get instant access to several asset classes in the global financial markets including; Single Stocks CFDs (US, UK, EU) such as Facebook, Amazon, Apple, Netflix and Google, BP, Carrefour;  Indices (Nasdaq, FTSE UK), Metals (Gold, Silver); Currencies (60+ Pairs), Commodities (Oil, Natural Gas).

The launch is part of Scope Markets Kenya strategy of enriching the customer experience while offering clients access to global trading opportunities.

Scope Markets Kenya CEO, Kevin Ng’ang’a observed, “the Sope Markets app is very easy to use especially when executing trades. Customers are at the heart of everything we do. We designed the Scope Markets app with the customer experience in mind as we seek to respond to feedback from our customers.”

He added that enhancing the client experience builds upon the robust trading platform, Meta Trader 5, unveiled in 2019, enabling Scope Markets Kenya to broaden the asset classes available on the trading platform.

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