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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

‘I love you plenty!’ Emmy Kosgei’s 62-year-old hubby showers her with love on 40th birthday

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Award-winning gospel artiste Emmy Kosgei has turned 40 years old.

The Taunet Nelel hitmaker is 22 years younger than her Nigerian pastor husband Anselm Madubuko.

The couple is so much in love and while celebrating her birthday, Emmy posted,

HELLO 40! HAPPY BIRTHDAY TO ME! WHAT SHALL I RENDER TO JEHOVAH!! 🔥🔥🔥🔥

Emmy Kosgei

The 62-year-old General Overseer of Revival Assembly Church penned a sweet message to his lifetime partner on her special day.

Happy birthday 🎂 🥳 🎉 my nubian Queen! I love u plenty! Keep increasing on all sides in Jesus love 💘

Emmy Kosgei

Check out birthday wishes from Emmy’s followers

terryannechebet Happiest Birthday my sister!!!! Welcome to the 4th floor!!! ❤️❤️❤️❤️

alicekamande 40 looks fab. Happy birthday Emmy , to many more blessed, fruitful years 🔥

joyceomondi Happy birthday beautiful!! ❤️

njeshqabbz Happy birthday @emmykosgei love the emerald green

mercymasikamuguro Happy birthday Madam Emmy💕

ladybee_254 Happy birthday siz🎂

annisiahgatwiri Happy Birthday Emmy n welcome to 4th floor

84123nk Happy birthday our sister may God bless every gift that he has purt in you and he continues to use you to do the work in Jesus name ❤️❤️

judietamira Happy Birthday jaber life begins at 40 be blessed

By Mpasho.co.ke

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

Kenyan Netflix exec on producing during a pandemic and amplifying Africa’s creative potential

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BY OLIVIA MUNGWANA

Kenyan entertainment veteran and film producer Dorothy Ghettuba who is the head of Netflix’s African Original Programming has said she is keen on  amplifying Africa’s creative potential and producing during this pandemic.

Speaking to CNN in an exclusive interview, Ms. Ghettuba said even as the pandemic is throwing a lot of the plans off-kilter, she is finding good stories in Africa adding that this is the best time to find stories.

“What we are doing is we are betting forward. We haven’t slowed down. It’s been about me speaking to writers, looking at scripts, looking at stories and finding the best stories to tell out there,” she told CNN’s Eleni Giokos in a video interview.

Ms. Ghettuba also said she was happy that during this pandemic period there has been an uptick of  people streaming Netflix  to entertain them when they’re at home.

Asked how Netflix approaching content production during times of lockdown and a health crisis she said: I think this crisis has made everybody pause and now we really have to relook at how we produce. Productions take place in pretty intimate, high-touch environments with hundreds of artists, people and creators all together in close quarters. So for us in the short term, these practices will have to be changed.

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

Ms Ghettuba also said Africa as a continent did not necessarily need to export its talent as they can be great even here in the continent by producing the best shows and having them watched all over the world.

Watch the video interview here

 

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Africa

Kenyan with big heart lines up for Sh10m Global Citizen Awards

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A Kenyan is among the 10 finalists in this year’s Waislitz Global Citizen Awards an award that seeks to celebrate individuals who make extraordinary contributions in the society.

Umra Omar is the founder of Safari Doctors, an organization that delivers primary medical care and health education by boat, air and land to Bajuni and Aweer communities in Lamu, Kenya.

The Waislitz Global Citizen Awards are annual cash prizes totalling Sh25 million ($250,000) that recognise the excellence of individuals in their work to end extreme poverty.

The grand prize is Sh10 million ($100,000) with three additional prizes for Sh5 million ($50,000) each, for a total of four prizes.

The awards are presented by the Waislitz Foundation and Global Citizen.

“Ending extreme poverty is not a choice, it’s an obligation. My hope is that it will inspire many thousands of people around the world to do what they can to improve the living standards of those in dire need,” Chairman and Founder of the Melbourne-based Waislitz Foundation, Alex Waislitz, said.

Raised in Kenya, Omar had earned degrees from two prestigious American schools, completed graduate school and was working full-time in Washington, D.C. But she says cubicle life wasn’t for her; she was longing to return to her native country.

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

Omar said she was compelled to come back because it was her town of origin, but also because she felt the desire to give back.

She had pursued a bachelor’s in neuroscience and psychology before completing her master’s degree in social justice in intercultural relations.

“I was so fortunate, to be given the scholarships and the opportunity I’ve had, being a woman, being from Kenya. You know, when you’ve been given the world, you have the give the world back,” she told Global Citizen in a phone interview.

In addition to the cash prizes, the four winners will be profiled in editorial pieces that will be featured on the Global Citizen platform and social media.

However, due to Covid-19, there will be no award ceremony in 2020.

In 2016, she was nominated for the year’s CNN Hero of the Year, an award that seeks to celebrate individuals who make extraordinary contributions in the society.

You can vote for her here; voting closes on Monday, July 20, 2020.

By NN

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