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The East African : May 3rd 2015
14 The EastAfrican NEWS MAY 2-8,2015 RIPPLE EFFECT EXPRESSION OF INTEREST CAPITAL MARKETS AUTHORITY OF KENYA – PROCUREMENT OF SPECIALIST HR AND CHANGE MANAGEMENT RESOURCES The Capital Markets Authority of Kenya (“CMA”) and FSD Africa (“FSDA”) are inviting Expressions of Interest from consulting firms to support the implementation of an institutional capacity strengthening programme. The Services will involve the supply of at least two experienced, specialist consultants - a change management expert and a specialist in HR management – into the CMA over an 18 months to two year period to work closely with CMA management as it implements a major programme of Organisational change and skills development. The Consultant will provide strategic and implementation support to CMA and will also build CMA’s capacity to assume full responsibility for taking the change process forward in the future. CAPITAL MARKETS AUTHORITY OF KENYA – PROCUREMENT OF PROJECT MANAGEMENT OFFICE FOR ISLAMIC FINANCE The Capital Markets Authority of Kenya (“CMA”) and FSD Africa (“FSDA”) are inviting Expressions of Interest from consulting firms to support the establishment of a Project Management Office (“PMO”) which will help design and coordinate a range of interventions to enhance Islamic finance markets in Kenya. The Services will involve the supply of specialist consultant(s) into the CMA over at least a two year period to work closely with its management to review and implement the recommendations of a scoping exercise carried out in mid-2014 into how to build Islamic finance markets in Kenya. The PMO will be housed at the CMA and will lead coordination of a cross-financial sector programme which includes regulatory reform, the establishment of a National Shariah Supervisory Board, capacity building and awareness raising. These initiatives will be led by the CMA which is the regulatory body that oversees capital markets in Kenya. These procurements will be managed jointly by CMA and FSDA and the successful bidder will ultimately be contracted by FSDA. EOI should contain: • names, CVs and location of key individuals • an outline of team structure • a short statement of why you believe your firm has the right experience and blend of expertise for this assignment • a short description of anticipated risks and how you would expect to deal with these • confirmation of your firm’s availability to carry out this work, giving details of any prior calls on your firm’s time (It is envisaged that the project will start in late July 2015, with deployment of consultants on site in August) • any other information that you believe should be taken into account in the shortlisting process Please note – a fully costed proposal and/or detailed work plan is not required at this stage. Your EOI should not exceed 3 sides of A4 (font size 11), excluding CVs, company brochures etc. EOIs should be sent to email@example.com under a subject line reading ‘’Expression of interest: Procurement of Specialist HR and Change Management Resources” or Procurement of Project Management Office for Islamic Finance”. Detailed EOI can be obtained from FSD Africa’s website www.fsdafrica.org Expressions of interest must be received by FSD Africa no later than 1200 (EAT), Thursday 4th June, 2015 Tourists at the Severin Sea Lodge in Mombasa. The low number of visitors into the country has seen the sector suffer with hotels closing and workers losing their jobs. Picture: Wachira Mwangi Tourism, agriculture slow Kenya’s economy Tou≥ism ea≥nings fell 7.3 pe≥ cent to about $930 million in 2014, down f≥om $1 billion in 2013 By ALLAN OLINGO The EastAfrican A slump in Kenya’s tourism sector for the third consecutive year is having a ripple effect on the food and accommodation sectors, the annual economic survey has shown. The 2015 Economic Sur- vey published by the Kenya National Bureau of Statistics shows that the accommodation and food services sectors recorded negative growth of varying magnitude as tourism earnings fell 7.3 per cent to about $930 million in 2014, from $1 billion in 2013 as insecurity and travel advisories issued by key source markets continued to bite. Kenya’s Cabinet Secretary for Devolution and Planning Anne Waiguru said that the number of international visitors declined by 11 per cent from 1.52 million in 2013 to 1.35 million in 2014, which is mostly attributable to the security challenges the country has been facing. The drop in international oil prices however came as a blessing to the economy as it jump-started several sectors by reducing the cost of production and input costs. The survey showed that total quantity of petroleum products imported in 2014 increased to 4.5 million tonnes, up from 4 million tonnes the previous year, a 12.5 per cent jump. This also increased the total domestic demand for petroleum products by 5.3 per cent to 3.9 million tonnes. In general, growth slowed down to 5.3 per cent, compared with 5.5 per cent recorded in 2013. This is still a far cry from the Jubilee administration’s promise of 10 per cent annual economic growth. The decline was blamed on poor performance of key sectors such as agriculture, manufacturing and tourism. According to the survey, the agriculture sector in 2014 recorded a growth of 3.5 per cent to bring in $3.53 billion, compared with a growth of 5.2 per cent in 2013, which brought in $3.55 billion. The manufacturing sector also VISITORS registered a 2.2 percentage points decline to grow at 3.4 per cent in 2014 compared with 5.6 per cent the previous year. The sector generated $571 million in 2014. Top performing sectors were building and construction, which expanded by 13.1 per cent; transport, which grew by 13.7 per cent and ICT, which increased by 13.4 per cent last year. Kenya’s construction sector has been growing in recent years buoyed by increased spending on capital infrastructure projects by both the government and the private sector, and private sector investments in real estate development. The increases in the cost of several food and non-food items, which outweighed notable falls in the cost of electricity and petroleum products including petrol, diesel and kerosene, saw the country’s inflation rise to 6.9 per cent in 2014, up from 5.7 per cent in 2013. Biggest growth The transport sector reg- CS Anne Waiguru. Kenya’s Cabinet Secretary for Devolution and Planning (pictured) said that the number of international visitors declined by 11 per cent from 1.52 million in 2013 to 1.35 million in 2014, which is mostly attributable to the security challenges the country has been facing. istered the highest growth of 5.0 per cent in 2014 compared with a growth of 1.22 per cent in 2013. The output value for the road transport sub-sector rose by 15.2 per cent to $6.2 billion in 2014, while the total freight traffic via rail expanded by 24.3 per cent, from 1.2 million tonnes in 2013 to 1.5 million tonnes in 2014. Despite the negative growth, Kenya remains optimistic that in 2015, there will be improvement, with the International Monetary Fund projecting 6.9 per cent growth, while the World Bank projects 6 per cent growth.
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