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FEP President admits all is not well in the company, promises to act

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BY BMJ MURIITHI

The president and CEO of Fountain Enterprises Programme (FEP) Holdings, Dr John Kithaka, has – for the first time – openly admitted that the company has been going through difficult financial times in the last three years.

In a statement dated October 23rd, 2018 and sent to media houses, Dr  Kithaka makes reference to the incessant media reports, which have been quoting the company’s 2016/2017 financial report.

In the statement, Kithaka says the company is well aware of the disappointment emanating from a section of its investors due to unmet expectations. He however promises the investors that his team is “pursuing corrective measures that will see us fully regain our footing.”

Recently, audit firm PKF Kenya raised queries on the financial health of Diaspora backed investment firm  after its fiscal results for 2017 indicated that its liabilities exceeded its assets by Sh339 million.

According to the company’s 2017 annual report released a fortnight ago, FEP incurred a net loss of Sh649 million in the year ended December 31 and had Sh3 billion accumulated losses against its current Sh2.5 billion net assets.

In recent years, the company has been battling allegations of misappropriation of funds which may have tainted its image with some of its former members – mainly from the Diaspora – even filing petitions in court. Below is the full statement from FEP Chairman/CEO John Kithaka:

READ ALSO:   VIDEOS: Amb Githae lauds Kenya USA Diaspora Sacco for "contributing over Sh 300M to Kenyan economy"

Africa

Uhuru names Amb. Martin Kimani new envoy to NY as he moves to cement his legacy in foreign affairs

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President Uhuru Kenyatta has either moved or nominated envoys to fill 12 positions globally. In the new line-up, Uhuru  has settled on a member of the Building Bridges Initiative (BBI) taskforce Amb Martin Kimani as the new Kenya’s Permanent Representative to the United Nations who will be based in New York.

The position fell vacant when Amb Lazarus Amayo moved to Washington DC as the envoy to US.

But who is Ambassador Martin Kimani? He was the Director of Kenya’s National Counter Terrorism Centre and Special Envoy CVE, and once served as the Permanent Representative and Head of Mission to the United Nations at Nairobi and the UN Environment Programme (UNEP).

Kimani holds an MA and PhD in War Studies from King’s College of the University of London and is a Fellow of the African Leadership Initiative and the Aspen Global Leadership Program.

He was also the 2013 Distinguished African Visiting Fellow at the South African Institute of International Affairs.

Learn more here:

 

Kenyatta has also nominated three former IEBC commissioners for deputy head of mission positions in the latest appointments.

Connie Maina, Paul Kurgat and Margaret Mwanchanya have been picked as deputy heads of mission in the latest changes made by the Head of State.

READ ALSO:   VIDEOS: Amb Githae lauds Kenya USA Diaspora Sacco for "contributing over Sh 300M to Kenyan economy"

The list of nominees features 25 people who are expected to fill up the positions of high commissioner, permanent representative, ambassadors and deputy heads of missions.

According to an Executive Order signed by Head of Public Service Joseph Kinyua, and released on Thursday evening; the group will join the country’s foreign service in various capacities.

The order states partly, “His Excellency the President has on this fifteenth day of October 2020, caused nominations and appointments to the senior ranks of the public service for persons to serve the nation as Ambassadors, High Commissioners and Permanent Representatives in Kenya’s Embassies/High Commissions/Missions abroad. The persons who by dint of the Presidential action will join our nation’s esteemed foreign service…”

Former IEBC vice chair Consolata Nkatha has been picked as the deputy head of mission in Rome, Italy. Her colleagues, Paul Kurgat and Margaret Mwanchanya will occupy similar positions in Moscow (Russia) and Islamabad (Pakistan) respectively.

Below is the list of individuals nominated for the positions of deputy heads of missions:

In the order, Amb John Tipis who headed the Directorate of the African Union heads to Canberra as Kenya’s High Commissioner to Australia. Immaculate Wambua has been picked as Kenya’s High Commissioner to Canada, and she will be based in Ottawa. Closing the list is Amb Catherine Mwangi who will be Kenya’s High Commissioner to South Africa. She will be based in Pretoria.

READ ALSO:   Concern as FEP liabilities exceed assets by Sh339 Million

 

In the list of appointments are 12 people who have been picked for ambassadorial positions. They include Amb Jean Kamau (Addis Ababa, Ethiopia), Linday Kiptiness (Bangkok, Thailand), Amb Tom Amolo (Berlin, Germany), Amb Lemarron Kaanto (Brasilia, Brazil), Amb Daniel Wambura (Bujumbura, Burundi), Stella Munyi (Harare, Zimbabwe), Maj. Gen. (Rtd.) Samuel Nandwa (Juba, South Sudan), Maj. Gen. (Rtd.) Ngewa Mukala ) Khartoum, Sudan), Amb Benson Ogutu (Moscow, Russia), Joshua Gatimu (Tehran, Iran), Amb Tabu Irina (Tokyo, Japan) and Amb Jean Kimani (UNHABITAT).

Resignation from IEBC

The three former IEBC officials announced resigned from the commission on April 16, 2018, claiming that their boss Wafula Chebukati was incapable of running the IEBC affairs.

“For far too long and way too many times, the commission chair has failed to be the steady and stable hand that steers the ship in difficult times and gives direction when needed,” the trio said in a statement.

They added: “Instead under Chebukati’s leadership, the commission boardroom has become a venue for peddling misinformation, grounds for brewing mistrust and a space for scrambling and chasing individual glory and credit”.

But on August 12, 2018, Justice Wilfrida Okwany ruled that the commissioners did not legally tender their resignation and were still adjudged to be in office. The court ruled that the trio ought to have resigned in writing rather than in the press conference.

READ ALSO:   FEP: FBI now invited to probe Firm that "used the Bible to promised investors the moon but delivered false hope"

“As I have already found in this judgement, the issue of the alleged resignation of the four commissioners was a matter that was neither here nor there and was not proved by any tangible evidence,” said Okwany.

-Standardmedia.co.ke

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Africa

Kenyan entrepreneur among top 10 finalists of Jack Ma Foundation competition

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Kenyan entrepreneur Chebet Lesan is among the 10 finalists of Africa’s Business Heroes, a competition organized by the Jack Ma Foundation to identify and recognize the continent’s top entrepreneurs.

Chebet is the founder of Bright Green Renewable Energy, a social enterprise that turns urban waste into clean burning charcoal for households, schools, farmers, hospitals and many others.

She is now among the 10 finalists who will pitch at the competition’s grand finale in November for a chance to win a share of a US$1.5 million prize pool.

Speaking to Nairobi News, Chebet said being among the top 10 is a humbling experience for her as they were up against strong competition.

For Chebet and the team at Bright Green Renewable Energy, a win in the competition will be a win for more than 800 million people in Africa who cannot access clean energy.

“It will mean that the problem we are solving of energy poverty across Africa, that the voices of 800 million people in Africa who still don’t have access to clean cooking fuel have been heard and are going to get the support they need to be able to improve their situation,” Chebet said.

For Chebet to win, As Kenyans you can support her by sharing your first Ugali experience using the hashtag #ugaliyanguyakwanza

READ ALSO:   Hope for Diaspora investors as FEP Group bounces back, posts Sh106 million profit

https://twitter.com/lesanerick/status/1316076593492701185

The finalists were chosen from a pool of more than 22,000 applications across all 54 African states and key sectors, including agriculture, fashion, education, financial services, healthcare and renewable energy.

The top 10, an even split of female and male entrepreneurs whose average age is 34, represent eight African countries: Kenya, Cameroon, Côte d’Ivoire, Ghana, Nigeria, Senegal, Uganda and Zimbabwe.

On November 13 and 14, Africa’s Business Heroes will host its Grand Finale and winners of the 2020 ABH prize will be announced on November 14.

During the online Grand Finale pitch, the top ten heroes will present their business ventures, as well as their vision and leadership profile, to the finale judging panel that includes Jack Ma, Founder of the Jack Ma Foundation and the Alibaba Group, Ibukun Awosika – Chairman of First Bank of Nigeria and Founder/CEO of The Chair Centre Group, Strive Masiyiwa – Founder and Executive Chairman of Econet Group and Joe Tsai – Executive Vice Chairman of the Alibaba Group.

All of this will be part of ABH brand-new business entertainment televised show due to air in five episodes from November 21-December 19 across Africa.

BY NN

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Africa

Is IT consulting all about coding?

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BY BOB MWITI

Are you out there with very good education but struggling with a low-paying Job?. Are you maybe trying to figure out which career to venture into for you to get a good pay?. Probably you have thought about IT, but you have that belief that you may not be a good fit. Is that you?.. Well you are not alone!! Majority of smart Africans in the US struggle with low paying Jobs because they have limiting beliefs!

From my own experiences, when you talk about IT consulting, most people think that you have to be a good programmer to be successful. Well, that is far from the truth. I personally can’t write even one single line of code and yet I have been a very successful IT consultant.

A while back I was interviewed at a technology segment on Voice Of America, where I gave my view about IT and the opportunities that are abundant in that space. Please watch the video below.

 

 

 

A Little Bit About Me!

I am a former international student in USA and I am a senior IT consultant in the areas of Oracle EBS Financials and Robotics Process Automation (RPA) here in USA. I am the programs director of Appstec America – A consulting company based in Tampa, Florida, USA.

READ ALSO:   FEP: FBI now invited to probe Firm that "used the Bible to promised investors the moon but delivered false hope"

I’ve been blessed to have learned a lot in my career as an IT consultant. My life has truly changed, and I’ve made it my mission to give back and serve others beyond myself. Whether that be helping you to relocate to USA as an international student, train you as an IT consultant, help you start and build your own online business, creating your financial freedom, motivating you to pursue your goals and dreams, to being more productive, to inspiring you to constantly improve yourself.

My mission is to get you to wake up to the unlimited potential within you and achieve what you’re truly capable of through my various self-development training programs.On the internet, I openly and passionately share my life experiences and all of the very best concepts, strategies, tools, and resources that I continue to discover that have made a measurable difference to my life, and will do for you as well.

Keep your dream alive and never give up! To learn about my company’s amazing programs, please go to;

www.appstecamerica.com or www.successwithbobmwiti.com

Contact me at;
success@successwithbobmwiti.com
info@appstecamerica.com
+1 813-573-5619 ext 402

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