5 July 2013 South African financial services group Old Mutual is expanding its African operations with the acquisition of a controlling stake in micro-finance company Faulu Kenya. The deal, which makes up a portion of the R5-billion the company has set aside for African growth, is expected to reach completion by the end of 2013, dependent on regulatory approvals and the finalisation of legal agreements. Old Mutual Kenya comprises part of the long-term savings and investment business of the Old Mutual Group, which is listed on the Johannesburg and London Stock Exchanges. It was selected after a two-year process that saw Faulu engage with over 20 potential financial partners and narrow it down to six local and international institutional investors. “The exercise entailed a rigorous vetting process to pick the best suited partner in line with Faulu’s commitment to being a financial bridge to success for Kenyans,” Faulu managing director, John Mwara, said in a statement on Thursday. Faulu was established as a loan scheme in Nairobi in 1991 and expanded into a micro-financing firm. It was the first micro-finance institution to be licensed to mobilise deposits from the public by the Central Bank of Kenya in 2009. It now has over 100 service outlets, including 31 banking branches in 44 of the 47 counties in Kenya with over 400 000 active customers. “This deal confirms Old Mutual Kenya’s commitment to availing affordable insurance products to millions of Kenyans through strategic partners like Faulu, whose fast expanding branch network creates an excellent distribution channel,” said Old Mutual Kenya CEO, Tavaziva Madzinga. “I am delighted that we have agreed this partnership with Faulu,” Old Mutual Emerging Markets chief executive officer, Ralph Mupita. “We continue to see further opportunities for the development of our business across East Africa.” SAinfo reporter
Trending Articles PLAY LIST 00:50Trending Articles00:50Trending Articles01:48NBA: Kawhi, George seek more for Clippers than beating Lakers01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games Kammuri turning to super typhoon less likely but possible — Pagasa Then Irving was in the spotlight again as the centerpiece of a league-shaking trade that sent him to the rival Boston Celtics in exchange for a package that included Isaiah Thomas and Jae Crowder.Now detached from the partnership he created with LeBron James, Irving enters the 2017-18 season as one jewel of the Celtics’ offseason overhaul, along with Gordon Hayward, who signed as a free agent.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutOnly four players remain from Boston’s roster from a year ago, when it outfought Cleveland for the East’s top seed, only to fall to the Cavs in five games in the Eastern Conference finals.Along with Al Horford, the Celtics have a brand new “Big Three” as they continue their pursuit of the Cavs. While Irving maintains his departure from Cleveland wasn’t about James, he now has exactly what he says he wanted: the leadership role in building a championship team. LATEST STORIES Still, he downplayed the idea that this season is more important than any other during his six-year career.“Every moment in my life is pretty important,” Irving said. “I wouldn’t say that it’s the most important. I would say it’s probably the most interesting.”Here are some things to watch for with the Celtics this season:EARLY REMATCHOne of the byproducts of the deal that brought in Irving was that president of basketball operations Danny Ainge had to part with Thomas, who had become not only a two-time All-Star, but the team’s emotional leader as well.A hip injury he suffered in the playoffs won’t allow Thomas to be on the floor when his new Cavaliers team hosts the Celtics in both team’s season opener on Oct. 17.But it will make for an interesting on-court reunion for Irving and James.REUNITEDADVERTISEMENT When Hayward entered free agency, Boston was thought to be high on the list to land him because of his previous association with coach Brad Stevens.Stevens was Hayward’s college coach at Butler, and the pair came within a missed last-second shot by Hayward of winning a national championship.While Hayward said the ultimate decision to leave Utah for Boston was basketball-driven, he said the connection he had with Stevens was a factor.“I always had a dream to play in the NBA, but he was the first person to tell me that I could get there some day,” Hayward said.After growing into a first-time All-Star with the Jazz, he now will have the chance to play a key role again in a “position-less” system that promises to utilize Hayward’s skills as a scorer and passer.TRIMMER SMARTGuard Marcus Smart will look a little different on the court this season after shedding 20 pounds in theoffseason.He said he struggled with back pain during the latter part of last season at 240 pounds and made it a priority to change his diet and slim down.One thing that won’t change, Smart said, is how he plays the game. His physique has changed, along with many of the players around him. But the goals are the same, even has he prepares to take on a new role as one the Celtics’ veterans. Smart, Horford, Terry Rozier and Jaylen Brown are the only returning players from last year’s roster.“Marcus is a critical part of our team,” Stevens said. “I think ultimately we want our identity to be a team that gets better every day. And I think his mindset, his competitive spirit, his toughness, his will — all of those things make teams better.” Nonong Araneta re-elected as PFF president LOOK: Loisa Andalio, Ronnie Alonte unwind in Amanpulo for 3rd anniversary Boston Celtics’ Kyrie Irving, left, and Gordon Hayward look on from the bench during the first quarter of a preseason NBA basketball game against the Philadelphia 76ers in Boston, Monday, Oct. 9, 2017. (AP Photo/Winslow Townson)BOSTON — Kyrie Irving turned the NBA world upside down multiple times this summer.It happened the first time after news leaked out that he had asked the Cleveland Cavaliers front office to trade him from the team he helped lead to a championship in 2016.ADVERTISEMENT MOST READ View comments UP ends slump, sends UST reeling to eighth straight loss Typhoon Kammuri accelerates, gains strength en route to PH Fire hits houses in Mandaluyong City BSP sees higher prices in November, but expects stronger peso, low rice costs to put up fight Brace for potentially devastating typhoon approaching PH – NDRRMC Don’t miss out on the latest news and information. Read Next Frontrow holds fun run to raise funds for young cancer patients
Published on SHARE August 17, 2017 Barcelona sporting manager Pep Segura has said the club are “close” to signing Liverpool’s Philippe Coutinho and Ousmane Dembele from Borussia Dortmund.Speaking after Wednesday’s 2–0 defeat to Real Madrid in the second leg of the Spanish Super Cup gave their arch rivals a 5–1 aggregate victory, Segura said Barcelona were discussing terms with the attacking duo.“We are close to Coutinho and Dembele, we are discussing their conditions but we do not know when they will be sealed,” Segura told Spanish television station TV3, adding, “We hope they will be Barcelona players this season.”Barcelona, who said on Monday they had agreed a deal to sign Brazilian midfielder Paulinho for 40 million euros ($47.19 million), are looking to fill the void left by Neymar after his world record 222 million euros transfer to Paris St-Germain.According to reports in British media, Coutinho has submitted a transfer request after Liverpool rejected a second bid worth 100 million euros from the La Liga club.Barcelona’s other reported target, Dembele, has been suspended by Borussia Dortmund after the 20 year-old France international skipped training amid speculation of a possible move to Spain.An initial Barca offer was rejected by Dortmund, with club bosses saying it was too low. German media have estimated the price of a move at more than 100 million euros.Barcelona are clearly in need of reinforcements after being outclassed in the Super Cup. After losing 3–1 at home on Sunday, Wednesday’s 2–0 defeat came at the hands of a Madrid side minus Cristiano Ronaldo, Gareth Bale and Isco. SHARE SHARE EMAIL COMMENTS COMMENT
It’s June 2018. Australia are in England for 5 ODIs and a one-off T20I against the hosts. This is just a couple of months after their horrendous Test series loss in South Africa , a series which was headlined by 3 players being banned from the game. The events of Newlands clearly had a big impact on the Australian side as they were blanked out by England in all the 6 matches.Cut to an year later. It’s the World Cup, and Australia are defending their title, having won the tournament 5 times already. After their comprehensive 86-run victory over New Zealand on Saturday, the defending champions find themselves on the top of the World Cup points table and have already secured a semi-final berth. The successful returns of banned duo Steven Smith and David Warner notwithstanding, there has been an unstoppable force which is responsible for the change in team’s fortunes – Mitchell Starc.Starc took his 2nd 5-wicket haul in World Cup 2019 against New Zealand, taking his tournament tally to 24. If you add his 22 scalps from the 2015 edition, Starc with 46 wickets now lies 6th in the all-time list of highest wicket-takers in World Cup history. That’s a surreal feat for a player who has just featured in 2 World Cups.Top 5 wicket-takers in World Cup history (matches in brackets):Glenn McGrath – 71(39)Muttiah Muralitharan – 68(40)Wasim Akram – 55(38)Lasith Malinga – 52(27)Chaminda Vaas – 49(31)Mitchell Starc – 46(16)Starc now has his compatriot Glenn McGrath’s World Cup record of most wickets in a single edition (26 wickets in 2007), firmly in sights and the luxury of a possible 3 more matches this year to surpass it. But the bowler himself has the bigger picture in mind.advertisementAt the post-match press conference, when asked about what overtaking McGrath would mean for him, Starc replied: “Not much if we don’t win the World Cup.” But the kind of success Australia are enjoying at the moment, one shouldn’t be surprised if Starc overtaking McGrath coincides with a 6th World Cup glory for his side.A few months ago, Starc was not even part of the side when Australia started their ODI resurgence while securing a 3-2 ODI series win in India. Starc was still nursing niggles when Australia next blanked Pakistan 5-0 in UAE.”From all reports, it’s been a fantastic feel around the group in the UAE and India,” Starc said after the New Zealand game, “and to play some fantastic cricket heading into that April break, was probably the momentum that the group was after heading into this tournament.”Now with another World Cup title in his sights and a chance to break the record of arguably the best fast bowler ever, Starc can only be expected to up the ante in the semi-final. Opposition batsmen beware, an unstoppable force is coming.Also Read | World Cup 2019: Australia seal top 2 finish after thrashing New Zealand at Lord’sAlso Read | World Cup 2019: Aaron Finch hails Alex Carey, Usman Khawaja after Australia beat New Zealand
About the authorCarlos VolcanoShare the loveHave your say Barca coach Valverde confirms Messi close to full fitnessby Carlos Volcano8 days agoSend to a friendShare the loveBarcelona travel to Eibar with Lionel Messi moving towards full fitness.Barca coach Ernesto Valverde confirmed Messi was close to a return to being 100 per cent after an injury-ravaged start to the campaign.He said, “He is in the process of being 100 percent fit.”The other day he played 90 minutes and scored, that always reassures the strikers,” he told the press.”He has to go slowly to find reach top form. He only has one full game under his belt.”We hope he can give us much more in the coming matches.”
zoom Starting from spring 2018, America Cruise Terminal will become a new location for cruise ships in Sweden as the present cruise terminal at Frihamnen needs to be relocated. According to the Port of Gothenburg, 2017 will be the final season in which cruise vessels can dock at Frihamnen due to the fact that the area will form part of a major urban development scheme with the construction of homes and offices, forcing the terminal to find a new location.The new central cruise terminal will be located at Stigbergskajen in Masthugget. The quay and part of the terminal building, Amerikaskjulet, are currently being restored.“It is an old quay – the first quay in Gothenburg for oceangoing traffic – and it is in considerable need of repair and renovation. We are working flat out to have the work completed before the first call in 2018,” Jill Söderwall, Vice President Cruise at Gothenburg Port Authority, said.The maximum length for vessels calling at America Cruise Terminal will be 225 meters – 25 meters longer than the current maximum length at Frihamnen. The Port of Gothenburg revealed that seventeen ships are already scheduled to call at the new terminal.Around half of the ships that call each year sail under the Älvsborg Bridge and dock centrally. The largest vessels will continue to dock at the terminal at Arendal, according to the port.Amerikaskjulet was constructed in 1912 and operated as a passenger terminal until 1975.Over 100 years ago, the first Swedish American Line vessel sailed for the USA from Stigbergskajen in Gothenburg. The same quay is now being resurrected as a cruise reception center under the name America Cruise Terminal.
Williams says he’ll wait to see “physical progress on the ground” before he commits to them.The Federal Court of Appeal last week reversed a cabinet decision to allow Trans Mountain construction to go ahead.A U.S. federal judge earlier ordered the U.S. State Department to conduct a more thorough review of the Keystone XL oil pipeline’s proposed pathway after Nebraska state regulators changed the route.Williams says that as a Canadian he found the delays “troubling” but not relevant to the company in the next three to five years.Suncor is officially opening its Fort Hills oilsands mine on Monday as it works to add 10 percent to its production output this year and again in 2019.It has been ramping up production and beat its guidance by delivering Suncor’s share at 71,000 barrels per day, at lower than forecast cash operating costs. Suncor owns a 43.11 percent interest in the open-pit and shovel mine, Total has 24.58 percent and Teck 21.31 percent. NEW YORK, N.Y. – The head of Suncor Energy Inc. says Canada’s largest oil and gas producer won’t move ahead with additional crude production expansions until there’s physical progress on getting pipelines approved.Chief executive Steve Williams told a Barclays investor conference in New York that recent judicial rulings affecting Keystone XL and Trans Mountain pipeline don’t have any short-term impacts on Suncor’s ability to get its product to market.But he says further production expansions won’t be approved next year and into 2020 until there is more clarity on the fate of pipelines.
GRANDE PRAIRIE, A.B. – Grande Prairie RCMP are seeking the public’s assistance in locating 33-year-old Patrick Decque.According to the RCMP, Decque was last seen in Grande Prairie on May 22, 2019.Decque is described as: CaucasianBlack hairBrown eyes6’0” / 230 lbsLast seen wearing a grey suitThere is a concern for Decque’s well-being.If you have any information regarding Decque’s whereabouts, you are being asked to contact the Grande Prairie RCMP at 780-830-5701 or CrimeStoppers at 1-800-222-TIPS.
New Delhi: Delhi Chief Minister Arvind Kejriwal alleged on Saturday that the Modi government allowed economic offenders Nirav Modi and Vijay Mallya to flee the country, and wondered whether this was the prime minister’s “patriotism”. “Why did Modi government make the two flee country. Is this the patriotism of Modi ji?” Kejriwal tweeted in Hindi.The Aam Aadmi Party (AAP) chief was reacting to a tweet saying Mallya and Nirav Modi have met several times in the past to discuss evading extradition to India. Also Read – Bangla Sahib Gurudwara bans use of all types of plastic itemsThere was a fresh focus on the fugitive diamantaire Nirav Modi after a British daily Saturday reported that the accused in the USD 2-billion Punjab National Bank (PNB) scam has been living in a swanky 8-million pound apartment in London’s West End and is now involved in a new diamond business. Sources in the Enforcement Directorate (ED) said on Saturday the United Kingdom’s home secretary has recently referred India’s request for extraditing Nirav Modi to a court for initiating legal proceedings.
Darjeeling: The coalition of regional parties in Darjeeling Hills and the exercise to field a consensus candidate fizzled out with the constituents deciding to go their own ways. Even Congress and Left Front have fielded their own candidates.The Gorkha National Liberation Front (GNLF) has decided to form an alliance with the Bimal Gurung faction of the Gorkha Janmukti Morcha. The coalition will be supporting the BJP candidate from the Darjeeling constituency. Also Read – Bengal family worships Muslim girl as Goddess Durga in Kumari PujaInterestingly, the bigwigs of the Bimal Gurung faction of the GJM, namely Gurung and Roshan Giri, are absconding. In a joint press conference in Delhi on Monday, the GNLF-GJM (Bimal faction) pledged their support to the BJP. “This has been done in the greater interest of the Gorkhas and to defeat anti-Gorkha forces,” stated Niraj Zimba, spokesperson, GNLF. The coalition feels that the BJP alone can fulfill the aspiration of the Gorkhas. When questioned on the public demand for local candidates for the Darjeeling constituency, Binu Sundas of the GJM (Bimal faction) said: “We had thought of this but had to compromise.” The BJP has not yet announced the names of candidates. Also Read – Bengal civic volunteer dies in road mishap on national highwayWhen questioned on the GNLF-GJM (Bimal faction) coalition, Binay Tamang, president of the GJM said: “The GNLF does not have any base in the Hills. The leaders of the other party are absconding. How will the coalition matter?” Meanwhile Shanker Malakar, the sitting MLA of Matigara-Naxalbari, has been fielded by the Congress for the Darjeeling constituency. The name of Saman Pathak was declared by the Left Front on Tuesday as their candidate for Darjeeling.