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
About the authorPaul VegasShare the loveHave your say Aston Villa boss Smith confident Grealish will find formby Paul Vegasa month agoSend to a friendShare the loveAston Villa manager Dean Smith has backed Jack Grealish to find some form.The midfielder and Villa captain has struggled to play at his highest level so far this season.”There will be more to come from Jack. He wants to get better. You end up sometimes dragging him off the training ground because he wants to get better. It’s a massive plus in his favour,” he said.”Jack’s a football person. He will train all day and go and find a room somewhere and fall asleep. Then he’ll wake up and go and do a gym session, that’s how he is.”He’s that sort of character – I’m surprised his girlfriend is still with him! He’ll go back home and he’ll be watching football as well. He’s a football nut.”Jack and John McGinn were probably our most influential players last season and to expect them to be as influential in the Premier League is asking a little bit too much straightaway. But they are getting better and better, that’s for sure.”What we want Jack to do is to be running at opposition players and hurting them like he did against Crystal Palace.”
Inter Milan striker Alexis Sanchez cuts ties with Man Utd palsby Paul Vegasa month agoSend to a friendShare the loveAlexis Sanchez has cut ties with his former Manchester United teammates.Sanchez has had a promising start to life at Inter Milan, where he’s on-loan, scoring twice on Saturday however he was sent off shortly after in their win over Sampdoria. Insiders at Manchester United have revealed Alexis Sanchez’s role in the changing room was rather minimal, and that is reflected with his lack of activity in the WhatsApp group.The source told The Sun: “It’s as if he was never here.”New Roma signing Chris Smalling is however said to be involved in the chat, while he is out on loan in Italy. About the authorPaul VegasShare the loveHave your say
About the authorCarlos VolcanoShare the loveHave your say AC Milan director of sport Massara: No need to temper ambitionsby Carlos Volcano5 days agoSend to a friendShare the loveAC Milan director of sport Ricky Massara insists there’s no need to temper ambitions.Massara was speaking before their draw with Lecce.“The objective is to improve. “We want to be ambitious, as we are Milan, but there are many strong teams and we don’t feel that we are below them,” Massara told Sky Sport Italia.“There is a very long road ahead and our ambition is to be competitive for a Champions League place.”
The Ministry of Education, is strategically repositioning the Jamaican Foundation for Life-Long Learning as the central agency for adult education in the country.Portfolio Minister, Hon. Rev. Ronald Thwaites gave this indication during a reception at the Terra Nova Hotel in Kingston on Wednesday, September 11, to formally introduce the new Executive Director of the foundation, Merris Murray.“Its role is going to be far more comprehensive than has been conceived in the past and it needs to occupy a place of prominence in the minds of all of our people who must turn to the foundation for expanding their education at any time of their lives,” he stated.Rev. Thwaites said that of particular focus is that some 140,000 youth are unemployed partially because they are not sufficiently educated; and are not certified to occupy jobs that are available or will become available.He noted that equipping people with levels of literacy and numeracy to enable them to seize opportunities for further education or to become productive citizens is paramount to the national development agenda.“Advancing education at whatever level and stage of life, is in fact the most important investment that one can make in one’s individual future and national success,” Mr. Thwaites said.He noted that the JFLL’s flagship programme – the High School Diploma Equivalent, will give many people who did not complete their secondary education the opportunity to do so.“This is a platform from which beneficiaries can re-launch their career goals. Jamaica has to offer its citizens second chances, in order for all of us to succeed,” he said.Rev. Thwaites said the JFLL will need to collaborate with various agencies, in and outside of the education sector to effectively carry out its mandate. “It is anticipated that the delivery of the High School Diploma Equivalent Programme will be done in collaboration with agencies such as the HEART Trust NTA and the Jamaica Library Service whose island wide network computer facilities are most appropriate,” he said.Congratulating the new Executive Director on her appointment, Rev. Thwaites said “her wide experience in the education sector as well as her involvement in small business facilitation makes her most suitable for this appointment.”The JFLL began as JAMAL Foundation in 1973.It operates 29 Adult Education Centres (AEC) with 100 volunteer AECs across Jamaica, and partners with other agencies and programmes to change lives by offering educational opportunities for all persons of all ages. Story Highlights Of particular focus are the 140,000 unemployed youth Its role is going to be far more comprehensive than has been conceived in the past Equipping people with levels of literacy and numeracy to enable them to seize opportunities for further education
zoom Canada-based ferry owner and operator BC Ferries will send its newest vessel, Salish Orca, to conduct a series of sea trials as part of operational training and to verify the interface with docks at the company’s terminals.Over the next month, Salish Orca, the first of the company’s three liquefied natural gas (LNG)-powered Salish Class newbuildings, will conduct dock trials at ports in the Southern Gulf Islands, Sunshine Coast, Departure Bay, Duke Point, Horseshoe Bay and Swartz Bay.The tests are a part of the vessel’s commissioning process scheduled to start on February 10 at Long Harbour, Salt Spring Island.As part of BC Ferries’ commissioning process for any new class of vessel, ships conduct dock trials at a variety of locations for potential future deployment purposes, corporate planning and contingency scenarios.“Passengers will be able to have a sneak peak of the ship from shore over the next four weeks, and we look forward to welcoming the public on board when we host official open houses,” Mark Collins, BC Ferries’ Vice President of Strategic Planning and Customer Engagement, said.Salish Orca will enter service on the Powell River – Comox route in the spring, replacing the Queen of Burnaby.Salish Orca’s sister ships, Salish Eagle and Salish Raven, are expected to arrive in British Columbia this spring and will start service in the Southern Gulf Islands later this year, according to BC Ferries.
TORONTO – Jim Cuddy shared the stage with fellow Canadian music star Gord Downie several times over their long careers, but it was a performance last February that was perhaps the most poignant.Cuddy and his band Blue Rodeo were performing at Toronto’s Massey Hall with opening act the Sadies when they invited Downie onstage at the last minute to perform the hit “Lost Together” as an encore.It had been nearly a year since Downie announced his diagnosis with an incurable form of brain cancer, but the singer-songwriter had shown herculean strength with a series of musical projects, a cross-country tour, and passionate advocacy on behalf of Indigenous Peoples. He was suffering from memory loss and didn’t know the lyrics to “Lost Together” but he seemed undaunted and full of life onstage.Cuddy never thought it would end up being Downie’s last public performance. He died Tuesday night at age 53.“I knew that he had a terminal illness but I guess I just thought Gord would be the one to at least stretch the limit,” an emotional Cuddy said during a phone interview.“I just didn’t realize the end was so near.”The encore performance, which is posted on YouTube, came on a night when there were three “iconic Gords” in the audience, said Cuddy. The others were actor Gordon Pinsent and musician Gordon Lightfoot.Travis Good of the Sadies invited Downie onstage and he obliged, wearing the outfit that became one of his signature looks in the final chapter of his life — a Canadian tuxedo of sorts with a tuque, jean jacket, hoodie and jeans.Holding a piece of paper with the lyrics to “Lost Together,” Downie sang along with the musicians for a bit before crumpling up the cheat sheet and taking in the audience.“He was standing beside me for a while and he was talking to me and he was just saying the most complimentary and loving things,” said Cuddy.“It was so sweet and I just said, ‘No, I’ll guide you, don’t worry. I know you don’t know the song.’”As it turned out, Cuddy forgot to guide him. But Downie charged on, improvising and even doing a little air guitar.“Gord was present and he knew what was going on,” said Cuddy. “He didn’t really know the song and he participated in this way that only an incredibly innate and gifted performer could.“He just suddenly walked to the mic during the piano solo and started to do this beautiful incantation and we were all stunned by how powerful it was.“It was very valiant to be up there.”After the show they had a “general celebration,” said Cuddy, noting fans were thrilled to see Downie there.“I think we were quite aware that it was a historic night,” said Cuddy. “Not that it was the end of anything but that it was a gathering of very close friends that had made their way in music and it was very beautiful.”Cuddy considered Downie a friend and felt they shared a special connection in the music scene. Both Blue Rodeo and the Hip had parallel success, becoming stars in Canada but not south of the border.“I have always used Gord as an example of why Canadian music is unique,” said Toronto-based Cuddy.“People always ask bands like the Hip, ourselves, ‘Why are you popular in Canada and not popular in the States?’ And I realized, because we’re different.”Downie was “incredibly important” to the Canadian music scene, Cuddy said, noting “he was an extremely good singer” who gave a unique expression to songs including “Ahead by a Century” and “Courage.”He was also “super funny,” he said, pointing to a showcase the two bands did along with the Eagles in Newfoundland.The Eagles were slated to perform last, after the Hip, and their manager Irving Azoff “was at the side of the stage gesturing to Gord to shorten his set.”“I was at the side of the stage just totally offended, like, ‘What are you doing?’” said Cuddy. “And Gord was laughing and laughing, spinning around, doing his show. It was just an amazing show.“Afterwards I said to him, ‘Didn’t that piss you off?’ He said, ‘I never thought in my life I’d have Irving Azoff telling me to shorten my set. It was awesome.’“I thought, ‘That’s so Gord, to see the humour in a messed up situation.’”
NEW YORK, N.Y. – Women made up just 18 per cent of all the directors, writers, producers, executive producers, editors and cinematographers who worked on the top 250 American films released last year, according to a new study.The 20th annual “Celluloid Ceiling” study on the behind-the-camera employment of women was released Monday by San Diego State University’s Center for the Study of Women in Television and Film. The results show virtually no change in the last 20 years for women in Hollywood. In 1998, the same calculation of behind-the-scenes jobs for women was 17 per cent.The study found that in last year’s top 250 films, 25 per cent of producers were women, 11 per cent of directors were women and just 4 per cent of cinematographers were women.“The film industry has utterly failed to address the continuing underemployment of women behind the scenes,” said Martha M. Lauzen, the study’s author. “This negligence has produced a toxic culture that supported the recent sexual harassment scandals and truncates so many women’s careers.”Last week, a study published by the University of Southern California Annenberg found that among the top 100 films at the box office, the percentage of female directors rose from 4.2 per cent in 2016 to 7.3 per cent in 2017. But that number was still less than the 8 per cent in 2008.As they have in the past, the studies give statistical evidence to the widespread alarm about gender equality in Hollywood. More than 300 women in entertainment recently formed the initiative Time’s Up to push for equal female representation among executives and to help sexual harassment victims defend themselves.