World bank ranks: Kenya second on logistics

That shows revenues n as long as u haven't broken even on operating costs u will still make loss..
 
Geza Ulole said:
Leta evidence humu unachoongea nachojua mimi KQ made loss on year 2016 though the loss was half of what was made in 2015. End of story..
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You are proving to be the fool you keep calling others!! You need to grow up and stop arguing like a kid! Very noisy but no point, people who resort to insults when people are discussing facts always are fools!!! Don't be one!
 
Edward Wanjala said:
You are proofing to be the fool you keep calling others!! You need to grow up and stop arguing like a kid! Very noisy but no point, people who resort to insults when people are discussing facts always are fools!!! Don't be one!
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Nimeomba evidence ulipelekwa shule kutoa tongotongo ama ujinga. Hamna tusi ukizingatia bado unayo usoni. I noticed u r calling me noisy..seriously🙁?
 
Geza Ulole said:
Nimeomba evidence ulipelekwa shule kutoa tongotongo ama ujinga. Hamna tusi ukizingatia bado unayo usoni. I noticed u r calling me noisy..seriously🙁?
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Yea! A noisy person is one, who talks no sense at all but only resorts to insults when he knows he can't argue with facts. Lousy mind!

About the link, there is a screen short here a few posts back showing the surge in income of KQ this last fiscal year. The green shows +surge while red means -surge
 
Ujinga si tusi..hebu niambie nikuite vp wakati una matongotongo..be fair to urself my friend. That amount of ujinga wasn't necessary
 
Geza Ulole said:
Ujinga si tusi..hebu niambie nikuite vp wakati una matongotongo..be fair to urself my friend. That amount of ujinga wasn't necessary
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You gauge yourself bongolala! No body is interested in your faulty gauges here!
 
KeMzalendo said:
Kq made an operating profit of Ksh 890million. Fact or fiction?
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Some people in here cannot understand this things! Or it might be because it is very painful to know KQ is back on track!!
By Next year KQ will have started stretching its wings far and beyond. 60 More routes including direct flights to Rio in Brazil are in line
 
supposed to be "these things"..
 
Air Tanzania seeks lease of Bombardier jet to bridge the gap



AIR TANZANIA INTENT TO BRIDGE THE GAP TO THE ARRIVAL OF THEIR FIRST BOMBARDIER CS300 JET

(Posted 05th June 2017)



Reports from aviation sources in Johannesburg suggest that Air Tanzania is finalising arrangements to lease a Bombardier CRJ100 jet to allow the revived carrier expand its operations ahead of the delivery of two Bombardier CS300’s, the first such aircraft to operate in Africa. These two jets are due for delivery between late this year and mid next year.
Air Tanzania in the past operated CRJ100 aircraft leased from Kenya but the former management was not capable to sustain any form of viable operation and was removed by the new Tanzanian government under President John Magufuli. Subsequently did the Magufuli administration then purchase two Bombardier Q400NextGen’s and signed orders for another one of this type – there is ongoing speculation that the existing but aged Q300 aircraft may be traded in for another brand new Q400 – two CS300’s and one Boeing B787 Dreamliner.
A source from Dar es Salaam had a few days ago indicated that Air Tanzania intends to fastrack the return to some of the regional routes it had shelved in the past, among them Nairobi and perhaps even Entebbe but was lacking a suitable aircraft to accomplish that.
With the turboprop fleet fully committed for domestic services will the CRJ100 fit the bill to offer a faster aircraft on routes crucial to ATCL’s full return to the market, yet small enough with just 50 seats in an all economy version, to fill with greater ease than a larger jet.
Watch this space for breaking and regular aviation news from the wider Eastern African region.

Air Tanzania seeks lease of Bombardier jet to bridge the gap
 
nomasana said:
Kijana Wacha kujiaibisha......eti unaongea mambo ya leasing bombardier. Hehehe. Upungufu wa akili ni kitu mbaya sana
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Huku KQ inaongelea kuwa guaranteed

Kenya government to guarantee $750 mln in Kenya Airways debt
Tue Jun 6, 2017 10:18am GMT

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By Duncan Miriri

NAIROBI (Reuters) - Kenya will offer $750 million in guarantees to Kenya Airways' existing creditors to help the heavily-indebted carrier secure financing from other sources to complete its recovery, a cabinet document showed on Tuesday.

The guarantees, approved by the cabinet, will cover $525 million owed to the U.S. Exim Bank and the rest to local lenders, said the document seen by Reuters.

The airline, partly-owned by Air France KLM and the Kenyan government, has struggled to return to profit after tourist traffic slumped four years ago following a spate of attacks by Somalia-based Islamist militants.

The government will also convert its existing loans to the carrier into equity, it said. It was not immediately clear how much it has lent the carrier, but a source at the airline said it was a "significant" amount lent over time.

The plan to guarantee the existing debt will be taken to the National Assembly for approval, the government said.

"The guarantees would be in exchange for material concessions to be provided as part of the financial restructuring which would secure future funding for the company," the cabinet document said, without giving details on the concessions.

The government views the airline as a strategic asset, supporting other industries such as tourism and encouraging investments from abroad.

Several international firms have set up their regional headquarters in Nairobi to take advantage of Kenya Airways' extensive route network on the continent.

Kenya Airways ferries 12,000 passengers a day on its fleet of Boeing and Embraer planes to destinations such as Juba and Accra.

At 1012 GMT, Kenya Airways shares were down 1.5 percent at 6.65 shillings.

The government would not provide additional cash as part of the restructuring of the airline, it added.

WERBUNG
The debt owed to the U.S Exim bank is related to the financing of the purchase of the carrier's Boeing planes.

Kenya Airways says the financial restructuring will involve restructuring debt and securing additional capital to help dig itself out of a position of negative equity, and attain a better balance between cash flow and debt repayments.

(Reporting by Duncan Miriri; Editing by Elias Biryabarema and Mark Potter)

© Thomson Reuters 2017 All rights reserved

Kenya government to guarantee $750 mln in Kenya Airways debt | Reuters
 
Cargo firm extends its wings globally
DAILY NEWS Reporter
06 June 2017


TAHAFresh has officially become an official member of the World Cargo Alliance (WCA) network, the world's largest and most powerful network of independent freight forwarders.

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The global firm, WCA has 6,473 member offices in 789 cities and ports in 190 countries around the world. The network now has about eight local companies in Tanzania and 15 in Kenya.

Tanzania Horticultural Association (TAHA) Chief Executive Officer Ms Jacqueline Mkindi said, “This is an opportunity for us to do business. We are now open to receive logistics businesses from customers all over the world and can take goods anywhere in the world.

It is yet another milestone for us this year…the sky is the limit for TAHAFresh growth,” She added, “We would like to thank our customers for continued support and we look forward to keep providing you with quality services,” TAHAFresh, a cargo handling company launched nine years ago, has extended its wings globally as a reputable logistics service provider, it has been reported.

The company also offers road transportation services using its diverse fleet of trucks from dry goods to temperature controlled trucks as well as container carriers which navigate cargo by road throughout Eastern, Central and Southern Africa for both short and long haul transportation.

“We are proud that through our services we are able to connect cargo from Tanzania with the rest of the world and bring the world cargo to Tanzania and the rest of Africa. Commitment and excellence is core in our business,” she said.

TAHA is a business association grouping together all aspects of the horticulture industry in Tanzania. Since its inception in 2004 it has successfully brought together the large scale professional operations and the many growers’ groups and small holders into a single bloc with a single business oriented set of interests.

The advocacy work often supported by BESTDialogue and other partners, have built the capacity of the association to deliver information to members, which in turn has led them to utilise better services offered by TAHAFresh.

Cargo firm extends its wings globally
 
Mkulazi sugar project set to create 100,000 jobs

DAILY NEWS REPORTER 06 JUNE 2017



BUSINESSPREVIOUS ARTICLECargo firm extends its wings globallyNEXT ARTICLETPB records an impressive financial performance

MKULAZI Holding Limited has launched special programme to empower sugarcane outgrowers take active part in the realisation of the NSSF and PPF joint sugar factory in Morogoro Region.

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The Minister of State in the Prime Minister's Office (Policy, Parliamentary Affairs, Labour, Employment, Youth and the Disabled), Ms Jenista Mhagama said that the project will closely involve farmers in Morogoro and Coast Regions creating over 100,000 jobs.

“Apart from the immense benefits to the farmers, the project will provide solutions to the problem of sugar shortage and inflation in the country,” she said after officiating the launch of a special programme which aims at empowering Mkulazi Sugar Project out growers held in Morogoro over the weekend under the coordination of Mkulazi Holding Company which is owned by NSSF and PPF schemes.

She commended the two social security schemes for the bold decision to invest in the industrial sector insisting that the decision was right while calling upon the fund’s members and stakeholders to support the initiative by participating fully in tapping the opportunities resulted from the investment.

For his part the Minister of Industry, Trade and Investment Mr Charles Mwijage, apart from congratulating the schemes for the implementation of the ambitious project he also called upon them to make sure the project involves the investment in dairy sector.

Earlier, speaking during the occasion, The Project’s Board Chairman who is also the NSSF Director General Prof Godius Kahyarara and the PPF Director-General Mr William Erio, assured the government, members and the schemes’ stakeholders that the projects are implemented with the highest level of integrity and transparency in order to bring positive results.

"We want to make sure that the projects are fully implemented without any scam in order to preserve the goodwill of the President and also to ensure that funds from our members do remain in safe hands, '' said Prof Kahyarara Speaking of the response from the farmers regarding the project Mr Erio said the response is great, the matter which alerts them that the availability of raw materials to feed the factory which is significantly expected to be the biggest one in East and Central Africa, with position to churn out 200,000 tonnes of sugar per year assured.

In addition to the construction of the factory in Mkulazi areas, the investment will also involve the construction of another sugar factory at Mbiligili Prison in Morogoro the project is expected to produce more than 250,000 tons of sugar per year, while processing not less than 2,500,000 tones of canes.

Mkulazi sugar project set to create 100,000 jobs
 
Tarime deserves sugarcane factory, says Ms Suluhu

MUGINI JACOB IN TARIME 06 JUNE 2017



VICE-PRESIDENT Samia Suluhu Hassan

HOME NEWSPREVIOUS ARTICLENdesamburo gets befitting send offNEXT ARTICLEBig anti-pollution drive set in motion

IT is high time a sugar factory as well as large scale sugarcane plantation is introduced in Tarime District in Mara Region and offer local employment opportunities to the residents who are mainly the youth.

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The observation was made by the Vice-President, Samia Suluhu Hassan yesterday when she was being taken around in a vast arable land that has been earmarked to build a Sugar Factory and sugarcane plantation in the area by the residents.

She lauded the area residents for setting up such a vast piece of land for the factory and crop, saying it would create thousands of direct and indirect jobs to them. Ms Suluhu said she was happy to see how concerned the residents are supporting such an investment and address poverty in the area.

The Vice President promised to consult the Minister for Lands, Housing and Human Settlements Development, Mr William Lukuvi on how to fast track the transfer of the piece of land as requested by Tarime District Commissioner (DC), Mr Glorious Luoga.

Presiding over the tour, Nile Agro Industries Limited Managing Director Mr Gajendra Patel, who had signed a Memorandum of Understanding (MoU) with Tarime District Council to set up the planned sugar factory, told the Vice President that the investment would cost about 200m US dollars.

He said his Uganda based plant, will create about 5,000 direct jobs and as well as more than 10,000 ones in indirect areas to the locals.

Mr Patel assured Ms Suluhu that they are ready to investment on the factory after also seeing how the land is fertile to support cultivation of sugarcane in the area. Commenting on the factory, Mr Luoga said the District Council and the central government will also benefit a lot from the investment by collecting taxes.

He said about 37,000 hectares of land is required for the whole investment.

Earlier the Vice- President laid a foundation stone to mark the construction of a new Chalk Plant in Tarime town that is being built by Arwa Investment, a local company that is owned by Mr Thobias Raya, a native investor.

She congratulated Mr Raya for the investment saying: “Besides reducing costs of importing pieces of writing chalks, it will create many local job opportunities.” Mr Raya promised the Vice President that they will be through with the construction by early next month this year, and immediately start related production.

Ms Suluhu started a three-day working tour in Mara Region after she graced commemorations of the World Environment Day in Butiama on Sunday.


Tarime deserves sugarcane factory, says Ms Suluhu
 
Mr Geza you sshouldn't be celebrating about that, Its actually a blessing in disguise.. I case you dint get the background :

1st Point. Kenya airways owes GOK a great amount of money.... Now GoK has agreed to swap that debt into equity, which means after that is done, GoK would automatically increase its shares and voting rights in KQ.

2nd point, KQ as an independent company took loans, Now it owes US Exim bank $525Million for part of the 8 boeing 787 Dreamliners it recieved which it had already paid like another $600M already.... KQ also owes local Kenyan lenders $225Million.....
With KQ making loses consecutive financial years, it meant if there was any operating profit bieng made, it all went to paying loans... Non of these lenders were willing to renegotiate the loan repayment model because KQ din't have any security.... What has happened now, is GoK(with a good country credit rating) has agreed to guarantee this loans amounting to $750Million, this means that GoK has extended its shield to cover KQ, Now KQ has the power to renegotiate how they are going to pay back the loans, for example, if KQ were bieng forced by US exim bank to pay $50Million a year or roughly $5Million a month for a period of 5 years or a period of 60 Months, KQ can now that its been guaranteed by GoK can renegotiate to pay back the same loan at lets say $20Mliion (Or even 10 Million) a year or $1.6Million a month over a period of 25 Years or 30 years.....
This will give room for KQ to operate without loan sharks breathing down their necks every-time KQ makes alittle money somewhere, KQ wont have to sell some of its old aircraft, or lease any aircraft, Or sell of Land it was given by GoK but its not using inorder to create liquidity to pay back loans, from now going foward KQ wont have to worry about any of that, it will be much easier for them to start making profits
 
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