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Daily Nation : February 11th 2014
30 | BUSINESS REVOCATION | Stay orders given hours after he had been presented at the firm’s headquarters Drama as court halts naming of Lay as cement firm chairman Ex-chief Karbolo’s appointment had been revoked by the President on Friday BY LILIAN OCHIENG’ firstname.lastname@example.org B oardroom wrangles at the East Africa Portland cement Company took a new twist yes- terday after the government presented Mr William Bill Lay as the firm’s new chairman hours before the High court suspended the appointment. In what becomes the latest con- troversy surrounding presidential appointments, the High Court suspended the controversial appointment of Mr Lay pending the determination of a case filed by the outgoing chairman, Mr Mark Kitaanyu ole Karbolo. “…That the gazette Notice No.821 of the 7th of February, 2014 appointing Mr William Lay as director and chairman of (East Africa Portland Cement) the petitioner herein be and is hereby forthwith stayed pending the hearing and determination of this application,” the High Court ruled. The stay orders were given just hours after Industrialisation principal secretary Wilson Songa presented Mr Lay as the new EAPCC chairman at the company’s headquarters in Athi River. In a Gazette notice released Fri- day, President Kenyatta revoked the chairmanship of Mr Karbolo and appointed Mr Lay to the listed cement manufacturer’s board up to November 7. 52 The total stake that the government and the National Social Security Fund own in the cement manufacturer SALATON NJAU | NATION Mr William Lay (left) and Industrialisation and Enterprise Development Principal Secretary Wilson Songa address the press shortly after Mr Lay was named the new chairman of East Africa Portland Cement Company at the firm’s offices in Athi River yesterday. “I, Uhuru Kenyatta, President and Commander in Chief of the Kenya Defence Forces appoint William Lay to be the chairman and director of the East African Portland Cement Company Limited, up to November 7, 2014 with effect from January 22, 2014 and revoke the appointment of Mark Kitaanyu ole Karbolo,” the President said in the notice. Presenting Mr Lay, Mr Songa said the government, which together with the National Social Security Fund own 52 per cent of the cement manufacturer, had appointed Mr Lay to streamline operations at the company that has been the subject of boardroom wars for some months. “We are looking forward to a pro- ductive period under Mr Lay as chair of the board. We encourage Portland cement to be as competitive as any other and not to have one company take the largest share of the market,” said Mr Songa. However, the court later restrained Mr Lay from taking office and ordered that the current chairman — Mr Karbolo — remains the company’s helm until the High Court determines the case. “…Mr William lay be and is hereby forthwith stopped from attempting in furtherance of the gazette notice No.821 of 7th February 2014 from assuming office either as a director or chairman of the East Africa Portland Cement pending the hearing of the determination,” the court said. Lobby calls for increased funding to agriculture BY NATION CORRESPONDENT A farmers’ lobby wants county governments to raise their budgetary allocations to agriculture to fight the perennial problem of food shortage in some parts of the country. Speaking in Nairobi a day after the Treasury released Sh88 billion for development expenditure, the Kenya National Farmers Federation chief executive, Dr John Mutunga, called on the devolved units to make farming a priority in their spending. “There are still many problems facing agriculture in this country including poor allocation of resources. The entire sector needs to be re-looked at if we have to improve the plight of farmers and lift them from abject poverty,” Dr Mutunga said yesterday. The organisation asked county governments to work closely with farmers in order to understand the problems facing them at the grassroots level. Funding agriculture has been a matter of national debate for years with experts warning that limited allocations have affected the country’s economic growth. Dr Mutunga said devolved funds in the past, such as the Constituency Development Fund, were hardly used for farming, limiting Kenya’s effort to address food insecurity. The Jubilee Government promised to increase funding to agriculture in the national budget in efforts to ensure adequate food stocks. Since the beginning of the year, the Ministry of Devolution and Planning has provided relief food, which has included 6,900 bags of maize, 24,500 of beans, 53,100 of rice, 5,800 cartons of cooking oil and 4,020 bales of nutritious meal for children. This, experts say, is a situation that can be avoided if more investments are made into the agriculture sector. DAILY NATION Tuesday February 11, 2014 LOOMING HARD TIMES Toyota says is will shut down its operations in Australia spelling massive job losses. Page 32 BRIEFLY HOUSING Safaricom sacco in bid to raise Sh1bn Safaricom Investment Co- operative (SIC) plans to raise Sh1 billion, which it will channel towards building houses for members and non-members. The cooperative, an investment vehicle spearheaded by the mobile phone firm’s employees, has over the last three years focused on the real estate sector. To mobilise the capital, the company plans to recruit more members. The cooperative said it will also target county governments with its upcoming projects. TOURISM Kenya woos visitors from Middle East Kenya is wooing tourists from the Middle East in an ongoing effort to expand source markets. The Kenya Tourist Board (KTB) is currently visiting Kuwait, Dubai, Abu Dhabi and Qatar trying to convince tour agents in the region to sell Kenya as a destination of choice. “KTB is meeting over 200 travel agents in these cities to interest them to sell Kenya,” read part of a statement issued yesterday. The board is following up on an agreement made last year when Kenya and Kuwait signed a pact to increase the flow of tourists from the Middle Eastern country. ELECTION Kenyan to head social security firms’ body Laptrust chief executive Hosea Kili has been elected to head a regional umbrella body for social security firms. He was chosen chairman of the East and Central Africa Social Security Association (Ecassa), which draws membership from Kenya, Uganda, Rwanda, Tanzania, Burundi and Zambia. Upon his election, Mr Kili vowed to focus Ecassa’s activities on innovation in social protection in order to increase inclusivity in the sector. FINANCE CFC Stanbic in new money banking mode CFC Stanbic Bank has launched a service that will allow traders to send payments made via mobile money service M-Pesa directly to their bank accounts. “The payments are then settled into their bank accounts immediately or on demand without the need to physically go into a branch to deposit cash or fill any forms,” said CFC Stanbic in a statement yesterday. The service is called Till2Bank.
February 10th 2014
February 12th 2014