Category Archives: Finance

African Economic Conference: Video and audio recording of the online press conference of the Chief Economist of the African Development Bank held on Sunday at 14:00 GMT

From: News Release – African Press Organization (APO)

ADDIS ABABA, Ethiopia, November 2, 2014/ — The Chief Economist and Vice-President of the African Development Bank has held an online press conference on Sunday at 14:00 GMT during the 9th edition of the African Economic Conference (

VIDEO recording of the online press conference of the Chief Economist and Vice-President of the African Development Bank:

AUDIO recording of the online press conference of the Chief Economist and Vice-President of the African Development Bank:

Distributed by APO (African Press Organization) on behalf of the African Development Bank (AfDB).


African Development Bank (AfDB)

Africa: Illicit Financial Flows (ADF Issue Paper) 2014

From: Yona Maro

Financing developmental efforts in Africa has proved to be costly in the past, compelling the continent to rely on external sources known as overseas development assistance. This type of assistance is often unevenly distributed, unsustainable, and in some cases, damaging to the national economies in the long run. Lessons learned from the Millennium Development Goals have prompted a fresh wave of thinking towards a post-2015 transformative developmental framework designed to ensure self-reliance for Africa. However, a structural transformation agenda will require an adequate, predictable, sustainable and integrated financing mechanism geared towards financing developmental goals (Abugre and Ndomo, 2014). Also, the continent must embark on reforms to capture currently unexplored or poorly managed resources. This includes curtailing illicit financial flows and rather transforming those funds into a powerful tool for enhancing domestic resource mobilization, as a way of furthering the continent’s development.

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To: Jaluo Karjaluo <>

By Dickens Wasonga.

Jaramogi Oginga Odinga University of science and Technology has signed and MOU with Jam ii Bora bank to construct 2000 student hostel to ease congestion currently facing the university.

The bank has set a side 2 billion shillings to finance the project that will be implemented in two phases through a lone arrangement which will see those who own land near the main campus in Bondo benefit.

Speaking during the ceremony the university’s VC Prof Stephen Agong said currently only 2000 students are able to be accommodated at the main campus while about 3000 others are accommodated outside the university.

He said the move will improve the safety of the students if they are within the hostels near the facility and whose management the university is involved in.

He said the financing of the project will not only be a boost to the institution but also to the locals whom he encouraged to take advantage of the offer.

The VC said they were talking with the bank to also consider mortgage financing of additional hostels in its expanded campuses of Miyandhe in Central Sakwa, Kapiyo in Maranda, and Achego.

Those who have land neighboring the Bondo campus will be expected to raise ten per cent of the low cost but modern hostels through the loan whose recovery will take 12 years.

Prof Agong asked Siaya county government to ensure the roads were improved as well as provision of water supply within the area.

” Bondo is set to be to be a university town whose growth will be guided by the growth of the university. staff accommodation is also a challenge to the university.There is no descent houses for them.”he added

Area MP Gideon Ochanda urged the community not to fear borrowing loans to invest adding that long time planning would help them grow academically.

” There is no way you can invest and expand your business without borrowing.That is how most businesses have grown” said Ochanda.


From: joachim omolo ouko

Rentia from Netherlands writes: “Joachim, just now I read on in County Kisumu: People complain about high bill electricity”. Thank you Rentia for raising this issue- Yes, Kisumu is nightmare when it comes to irregularly hiking electricity bills. Obambo Primary School account number 2768333-01 was just reconnected about 5:34 hours Kenyan time.

We are not even sure whether this connection will last a month before they disconnect us again. This is despite the fact that between August to September we have been forced to pay over Ksh 17, 869. This is real nightmare.

Apart from Daily Nation you have quoted, residents in Kisumu are up in arms against high electricity charges which, they say, have doubled since July. Click here for more reading Residents complain of high power bills – Daily Nation Mobile. No one can explain exactly why Kisumu County had to hike power in such a ruthless manner.

According to the link, Mrs Loice Ogana, who pays a bill of between Sh3, 000 to Sh5,000, has been slapped with charges amounting to Sh16,658. And Ms Martha Mukulu, who has been paying Sh900, now has a bill of Sh6,000. Leave alone Ksh 40, 000 bill that was sent to a widow in Guest House in Awasi.

Consumers Federation of Kenya Secretary General Stephen Mutoro has confirmed receiving the complaints even as KP’s commercial boss Sellah Mdeda defended the rates and asked affected customers to report to their office for a review. To review is completely a waste of time.


Business feature By Leo Oder Omolo in Homa-Bay Town.

Rongo MP Dalmas Otieno has come under the scathing criticism by the residents of Homa-Bay county for allegedly gross interference and trying to sabotage the planned multi billion white sugar Mill in the region

The resident are up in arms against the MP’s alleged maneuvers and canvassing against the Ministry of Agriculture and the Kenya Sugar Board recent approval of a the license for the establishment of the new sugar mill in parts of Rangwe constituency in Homa-BAY County

The residents of both Homa-BAY, Migori and Kisii Counties which stands to benefit a great deal from the planned sugar mill have vowed to petition President Uhuru Kenyatta to plead with him to intervene and ensure that the investors for the project are issued with the license as soon as possible.

The new white sugar mill ‘output when fully operational is expected to be 3000 metric tone of made sugar per day. Its construction cost is estimated to be around Kshs 4.6 billion. The new factory will offer job opportunities for close to 2,500 workers on direct employment while similar number of farmers will also benefit from their sugar cane products as out growers in the region covering Homa-Bay, Kisii and Migori counties.

The criticism of the Rongo MP Dalmas Otieno has come as the result of the recent visit by the Cabinet Secretary for Agriculture Felix Kosgei. The CS toured the region on July 6th. Kosgei was accompanied by the CEO of the Kenya Sugar Board Rosemary MKOK, Rngqwe MP George Oner two representatives of Homa-Bay and Migori County governments and a large number of cane farmers from Rongo,Rangwe and Southern Kisii regions. Kisi regions.

The CS led the group on a visit to the site of the proposed new sugar mill at Aoch Muga in south Gem location, Rangwe constituency in Homa-Bay county. ALso present at the public BARAZA WHICH WAS Addressed by the CS Kosgei were the representatives of the investors the entrepreneurs from Kisumu.

Kosegei disclosed at the meeting that application for the new mill would be approved. The CS said this after listening with his own ears what the residents, especially the potential out growers.

Kosgei advised the residents of the affected areas to shun politics and redouble their efforts in growing more sugar cane, and that he was satisfied that the people were yawning for the new mill to start its production the soonest.

The CSe promised that he wold write a letter of approval to the relevant authority when he get back to his Nairobi office.

However, following the publication of of news about the planned new sugar mill in the local media, the Rongo MP Dalmas Otieno is alleged to have started an aggressive canvassing with the higher echelon snd government offices and allegedly trying hard to sabotage the project under the pretext that he should be the one who should be given a license for establishing the new sugar mill in the area.

His is one song which the Rongo MP has been singing for the last 15 years, but he has never come forward with a tangible plan and a written application for the same. A source at the Nairobi offices of the KENYA sugar Board confided to this writer that their office has not received any application from Dalmas Otieno nor have received from any from any company Associated with him.

DALMAS Otieno IS CURRENTLY FACING LEAN TIME HAVIG RECENTLY DISAGREED WITH EH odm leader Raila Odinga might find it an up-hill task to initiate any sugar mill project even in his own Rongo constituency.

According to the ODM chairman in the Migori County branch Eng. Phillip Makabong’o

The Homa-Bay ‘s proposed new sugar mil has received the blessing of both Homa-Bay governor Cyprian Awiti and the Migori governor Ok0t Obado. And when operational, the mill will receive and crush 90 per cent of its row sugar cane from within Homa-Bay County with small percentage of raw materials from Migori and Southern Kisii farmers per cent from with the same percentage from out growers cane farmers from Southern Kisiii regions.

How can he come out full blast trying to stop this noble and important project which is aimed at empowering the community economically?

The MP had earlier announced for the formation of a new political movement called Kalausi, which has so far failed to take off from the ground.

Eng Makabong’o declared that Otieno is no longer ODM and the process to have him kicked out of Parliament is under way He termed the alleged MP’S interference in the proposed sugar mill project twould be a political suicide for him.



By Our Investigative Reporter

The Anglican Church sponsored Maseno School for the Deaf school is presently in a severe deplorable state and if checks and balances are not put in place then the multi0million institution might go to the dogs.

This is as a result of ineptness, negligence and total lack of concern and care for the once prestigious institution which are attracted students and pupils from the entire East Africa Community.

The Principal of the Institution is said to lack basic communication and managerial skills as well lack of respect for the employees who have all a long been behind the success of the said institution.

Efforts by the Ministry of Medical Services through their Public Health division to streamline systems within the institution has been met with a lot of corruption as the Principal is said to have pocketed all his critics.

The school infrastructure is in a very deplorable state as the main sewer within the institution has busted dropping all the wastes to the students dormitories and the deaf and blind children who can’t talk as well as see nor hear live in such a pathetic state and at times they drop food on the floor flowing with human faces and pick and eat the same.

The staff have no protective clothing and are forced to clean the sewer discharges with their bare hands, the institutions kitchen has no firewood throughout and the staff are forced to fell trees and use it in its green state which makes the children only to have only one meal in a day yet the parents and the government which are also donors within the institution are not informed notwithstanding the tendering of the same annually.

The said deaf and blind children are forced to cross over the ever busy Siriba road to fetch water from the stream a kilometer away.

On learning these the staff held a meeting after the pathetic situation had resulted into the children going on strike and presented the Principal with a proposed both long and short time for the immediate curbing of the school’s situation.

Rather than acting on the emergency stop gap measure on the situation, the Principal opted to randomly threaten those whom he perceived were behind the said document.

The teachers are presently demoralized and it’s a matter of time they down their tools demanding the removal of the current the Principal who is said to be related to a leading clergy of the church which sponsors the institution.

Besides sealing the vices through money obtained from the institutions coffers which he uses to dish to everybody who attempts to question his misconduct.

The Kisumu County education Office has so far been petitioned to reign in and restore sanity within the institution.

Contacted for comment the school’s Principal a Mr.Ngwaara told this writer that he should direct those questions to Bishop Mwai Abiero whom he says is well positioned to comment on such saying he is mere a figure head and all procurement issues is handled by the Bishop’s office.

“The car which was meant for the school is also being used by the Bishop’s son who is, please talk to him he will answer all your queries, even me I know the institution is in a pathetic state, but what do I do” he added

African wealthy individuals invited to invest in the USA and obtain US Green Card

From: Yona Maro


ArKay Beverages Inc. is Inviting African Wealthy Individuals to Invest in the USA and Obtain their US Green Card

If you are a foreigner investor and eligible, ArKay will help to get your US residence for you and your family

NEW YORK, July 17, 2014/ — ArKay Beverages Inc. (, the world’s first maker of alcohol free liquors, is inviting African wealthy individuals to invest in the USA in a new concept of ArKay Non Alcoholic Bar & Lounge that will serve food and non-alcoholic cocktails during the day and transform itself in a fun place at night.

“The reason behind ArKay expansion into “the non-alcoholic bar and lounge market” is obvious,
peoples want to have fun without having to drink liquor, with ArKay the party never stops!”, said Sylvie Grattagliano, President of ArKay Beverages.

According to the company, ArKay non-alcoholic bar & lounge will be serving up an assortment of high end coffee, sandwiches, salads, and even, croissant burgers. Not to mention, over 100 non-alcoholic cocktails .

ArKay non-alcohol bar and club will be very successful because ArKay is unique concept in its kind, ArKay anticipate opening hundreds of locations in the USA and overseas where consumers are trying to get away from liquors and still want to have fun.

The typical size of an ArKay N/A Bar and Club will be 250 square meters or 2,800 square feet, the cost to build and equip the unit is approximately one million dollars and the projected ROI should be 8 % yearly.

Investing in ArKay Beverages is an excellent opportunity for foreign investors for the following reasons:

– ArKay will take care of all permits.

– ArKay will take care of finding the best location.

– ArKay will train you and your team.

– ArKay is not a franchise, there is no fee or key money required to open ArKay N/A bar.

– ArKay is the world first alcohol free liquor company.

– ArKay has no competition.

– ArKay is inviting African investors to be part of this project.

If you are a foreigner investor and eligible, ArKay will help to get your US residence for you and your family. A minimum investment of USD 1 million is required. If you are interested in opening your own ArKay N/A bar and club.

This is not an offer to buy company stock or a franchise. All ArKay Non-alcoholic bars and boutique will be independently owned.

Terms and Condition may apply and change at any time.

For more information click on this link: , and/or please contact us:

Distributed by APO (African Press Organization) on behalf of ArKay Beverages Inc.


Sylvie Grattagliano
ArKay Beverages Inc.
401 East Las Olas Blvd.
Suite #1400.
Fort Lauderdale, FL 33301 – USA

Tel + 1 954 536 8413


Yona Fares Maro

Institut d’études de sécurité – SA



A Federal High Court sitting in Nigeria’s Federal Capital Territory, Abuja this afternoon granted an order of mandamus compelling the Economic and Financial Crimes Commission-EFCC to explain why it must not release the information requested by a Civil Society Coalition under the Freedom of Information Act.

Federal High Court 2, Abuja, presided over by Justice Kasarati granted the leave as sought by the plaintiff- Media Initiative against Injustice, Violence and Corruption-MIIVOC to issue an order of mandamus against the anti-corruption Agency.

Reacting to the Court decision, Counsel to MIIVOC, Barrister Obasi Agu expressed satisfaction with what he described as judicial uprightness and expressed confidence that justice shall prevail.

“The implication of today’s court pronouncement is that the Court has issued an order, compelling the EFCC to explain to the Court why it must not make the information requested by my client available to him. The Commission has about fourteen days to respond.”

Adding his voice, MIIVOC Executive Director, Walter Duru expressed confidence in the ability of the judiciary to deliver justice, reiterating the coalition’s commitment to making anti-Corruption agencies in the country accountable.

He decried what he described as the absence of transparency and accountability in the operations of anti-corruption agencies in the country and reiterated his coalition’s commitment to righting the wrongs in the system.

It would be recalled that a Coalition of Civil Society Organisations under the aegis of Media Initiative against Injustice, Violence and Corruption-MIIVOC dragged the Economic and Financial Crimes Commission-EFCC to Court over its refusal to respond to a request made under the Freedom of Information Act.

The matter filed in Federal High Court, Abuja, with Suit number: FHC/ABJ/CS/265/13 between the Incorporated Trustees of Media Initiative against Injustice, Violence and Corruption as plaintiff and the Executive Chairman, Economic and Financial Crimes Commission-EFCC-defendant, prays the Court to compel the defendant to make available the information sought by the Plaintiff in accordance with section 4 of the Freedom of Information Act, 2011.

The matter seeks four reliefs, among which is “a declaration by the Court that the denial of assess by the respondents to make available to the applicant the information sought, without explanation amounts to a violation of the applicant’s right to information enshrined in the Freedom of Information Act 2011, section 4”

MIIVOC had through a letter dated 27th January, 2014, invoked the Freedom of information act via a request for information bothering on credibility, finances and Police presence in the Commission, a copy of which he displayed.

According to the FOI request, signed by the Organisation’s Programme and Publicity Director, Philip Inyang, copy of which is acknowledged by the EFCC, MIIVOC made a 7-point demand that centered on the controversies surrounding the Commission’s financial state, alleged dominance of the Commission by the Police and other credibility issues.

“We refer to the August 5, 2013 publication on Daily Sun Newspapers and the Punch newspaper of August 2nd, 2013 which reported that there are about 700 Policemen working in the EFCC, majority of whom are top management Staff. In another report in the Nigerian, an online newspaper, it was alleged that most heads of Units, Departments and zones in the Commission are headed by Policemen, irrespective of qualifications, federal character and background. In response to the Vanguard Newspapers publication of January 21st, 2013, the EFCC Spokesman denied the predominant presence of Policemen in the Commission, without explaining what the 700 policemen are doing in EFCC and how 700 policemen, out of less than 1,200 EFCC staff is not a predominant figure in an organization that was created more than ten years ago. He also failed to address the issues raised in the report by the Senate where EFCC was alleged to be spending funds meant for the recruitment of new staff and payment of benefits to its core officials to Police.”

“On ThisDay newspaper of 17th December, 2013, the Commission was quoted as being broke and having less than N2m in her accounts. In another statement credited to the Commission’s Spokesman, Wilson Uwajuren and published on Vanguard and Guardian newspapers of 19th December, 2013, the Commission was reported to have somersaulted, claiming that it was not broke.”

“To sustain the credibility of this Commission among Nigerians and at the international level, a more robust and convincing response is expected from the Commission in situations such as this, considering the series of controversies that have trailed the Commission’s activities and operations lately.”

“It is the need for this credibility and in view of the right of Nigerians to know, that we most respectfully invoke Sections 1, 2 (3)(V), 2(3)(Vi) of the 2011 Freedom of Information Act to request for the following: Details of all Police officers posted to EFCC, their qualifications, ranks, and duties as well as dates of secondment to EFCC; Details of police officers that are in charge of operations, sections and units of EFCC; Details of senior officers of EFCC occupying Directorate positions and the number that are supposed to be in Directorate positions if not for the police officers; The volume and value of EFCC funds (INCLUDING NON-APPROPRIATED FUNDS) that go to the Police, Ministry of Trade and Investment Special Control Unit Department, Training of staff, number of officials of EFCC trained (and other officials who are not EFCC officials) and how much was saved from EFCC budget in 2013 given all the international funding and support it obtained in 2012/2013.

Other requests are: Details of support and funding from the international community in 2013, especially, funds from: GIABA/ECOWAS and World Bank; Details of EFCC officials trained by international agencies in 2013 and how much was saved in the budget of EFCC because of this support and the actual financial statement of the Commission, as at December 31st, 2013.

Media Initiative against Injustice, Violence and Corruption (MIIVOC) is a coalition of communication, civil society and human rights activists and groups with interest in the war against injustice, Violence, immorality and corruption, as well as the protection of human rights, from a communication perspective. It is believed to be working with a coalition of over twenty different non-governmental Organisations in the Project.

Among the NGOs in the Coalition are: Network on Police Reforms in Nigeria-NOPRIN; International Association of Criminal Justice Practitioners-IACJP; Foundation for Environmental Rights, Advocacy and Development- FENRAD; Citizens Centre for Integrated Development and Social Rights-CCIDSOR, Center for Zero Violence Advocacy-CEZVA; Media Initiative Against Injustice, Violence and Corruption; Initiative for Reorientation for Peace-building –I-REP, among others.

Philip Inyang
Director, Publicity


WRITES our investigative Reporter

It has emerged that the super-conman who is reported to have swindled the SIAYAGOVERNOR Cornell RASANGA amoth and the headmistress of a Girls High SCHOOL in Rarieda once landed at the school’s compound in a helicopter in the comp0any of two white accomplices to impress the school management how important and how genuine he was with his fake ICT UN agency funded ICT project.

THe fake ICT project coordinator and fake investor once flew in an helicopter and landed in the school with two Whiteman whom he claimed had come from the donor and UN agency just to intimidate the school management and impress upon them how important person he was. His two white companions did not talk or utter any word. The man using the presumed name as Prof. Ngugi addressed the students’ teachers at the school assembly. However, his two white companion did not speak. The group were lavishly entertained with executive meal and alcohol beverage at the school’s expense.

The Headmistress of St Mary’s Lwak Girls HIGH school took the man into confidence and even allocated him a temporary building for his accommodation and even allowed him the use of the school’s facilities such as stationery, rubber stamps and even access to cheque book as if he was not a member of the staff.

The fake investor late while using the school stationery sent out LPOs to suppliers in Kisumu City made some orders for computers. and other equipment worth millions of shilling and he mysteriously disappeared into thin air;

At the same time it emerged that the Siaya governor who gave the man the introduction letter to the school had followed it with a cautionary note and asked the Headmistress to analyze the man and his big claims before entering into any serious business deals. The man according o those who interacted with him was too talkative and talks big things, whiCh appeared to be fdar away from the truth. but the head school teacher ignored the advice from the governor’s office.

The suppliers who were duped to believe the man thought they were in for roaring and booming business and rushed in their supplies. Some of the laptops ended up being distributed to girl-friends of the on man and not all were given to schools as originally planned, and the matter sounded like an American Hollywood movies.

The suppliers have now moved to auctioneers and sought for their assistance in recovering the millions of shillings worth of supplies the made to the school. The invoices and delivery notes were dully signed by the headmistress jointly with the fake investor who turned out to be a super-con man and put the head of one og the prestigious Roman Catholic Mission’s sponsored girls High school in NYANZA REGION.



The Migori County governor Zachary Okoth Obado has come unde scathing criticism for his recent claims that the Nyatike multi-billion shilling irrigation scheme project has been abandoned alleging that the money meant for the project has been embezzled.

These remarks which were made over the weekend in Nyatike has provoked angry reaction from the area MP Edick Omondi Anyanga who dismissed the governor’s utterances as having come out of the tots ignorancy.

He explained that the project is being undertaken by the Central government and is not the project of the Migori County government project, therefore governor governor Obado has no business visiting there.

Anyanga explained that the project in lower Kuja river is estimated to cost about KSHS 4.5 billion and is to be implemented in three phases. The phase one of the project which has cost The government KSHS 700 million and has already been implemented and the contractors have already keft th site.

Anyanga has confirm that he has invited the CS to visit the project the coming Sunday and invite all the stakeholders to be there and see for themselves the amount of work already put on the ground.

A cross section of interviewed Nyatike residents felt that Obado reckless utterances about this multi-billion shillings project amounted to gross interference..He should stop poking his nose to this project, which has nothing to do with he County government in MIgoriI. The Migori County government has squandered millions of tax-payer’s money on some not very viable projects, but the governor has never initiated not even one viable economic project in Nyatike constituency and as suh he should keep off.,said one resident enard ocholla.


Kenya and Tanzania struck off list of countries tracked for money laundering

From: Abdalah Hamis

Kenya and Tanzania have been removed from a global watch list of countries not doing enough to tackle money laundering, a downgrade expected to increase the region’s appeal among global investors.

The exit of the two countries from the list leaves Uganda as the only country from the region viewed by the international community as not doing enough to shield its financial sector from acting as a conduit for cleaning and transferring illegally acquired cash.

The Financial Action Task Force (FATF), a global anti-money laundering agency that sets standards for countries, says while Kenya and Tanzania had taken steps to step up local legal and regulatory frameworks, Uganda has made little progress in sealing these loopholes, citing the country’s failure to establish a legal and regulatory framework to curb the practice.

“Uganda should continue to work on implementing its action plan to address these deficiencies, including by adequately criminalising terrorist financing… establishing and implementing an adequate legal framework for identifying, tracing and freezing terrorist assets,” said the FATF in a statement.

Under rules established by the FATF, member countries are required to put in place laws and institutions that enable them to track suspicious monetary movements through establishing a financial intelligence unit.

It was their failure to set up these laws and institutions that pushed the agency to place Kenya and Tanzania on the list – alongside Iran and North Korea, which have already been slapped with economic sanctions for their appearance on the list.

READ: EA still exposed to channels for transfer of illicit funds

The two countries had been placed on the list by FATF over what the organisation said were delays in enacting laws to tackle the crime as well as failure to establish a local agency to track suspicious monetary transactions.

“The FATF welcomes Tanzania’s significant progress in improving its anti-money laundering regime and notes that Tanzania has established the legal and regulatory framework needed to meet its commitments in its action plan regarding the strategic deficiencies that the FATF had identified in October 2010. Tanzania is therefore no longer subject to FATF’s monitoring process,” said the FATF.

Appearing on the list and the subsequent effects, like economic sanctions, can have devastating effects on economies.

For example, the US has banned its citizens and companies from any business dealings with individuals and corporates from Iran and North Korea, in effect locking them out of the global financial sector and denying them billions of dollars in potential investment and trade inflows.

For a country like Kenya that aims to build a financial hub in Nairobi, being locked out of the global financial market could mean attracting inflows into the country would be virtually impossible.

“To be placed on the grey list means that to do business with Kenyan financial institutions foreign financial institutions will have to be very careful in their financial relations with Kenya. They have to enforce enhanced due diligence in order to do business at all and depending on the jurisdiction, they may not be able engage in the business at all,” said Jan Beens, project coordinator at AML/CFT Kenya.

Again, it would also mean these countries would not be in a position to borrow from the international markets through such avenues as the Eurobond. Kenya last month issued a $2 billion Eurobond while Tanzania plans a similar listing later on this year.

The UN as well as key global powers such as the US have been pushing countries that have weak anti-money laundering laws to enact or strengthen existing legislation to limit abuse of the financial system by criminals and terrorist groups.


From: Charles Banda

A recent statement from the Governor of the Bank of Zambia on the challenges facing the Zambian economy, especially the Kwacha.


June 10, 2014

The Bank of Zambia wishes to take this opportunity to update the public on recent developments in the foreign exchange market and the measures that have been taken to stabilize the recent instability in the Kwacha. As a result of additional measures implemented on May 30, 2014, the exchange rate has shown signs of stability over the past week.

Let me first of all state that Zambia’s economic fundamentals remain sound.

It is our view that the rate of depreciation of Kwacha witnessed over the past few months is not consistent with economic fundamentals.

Early this year, the Central Statistics Office revised the GDP numbers for the year 2010, to take into account the changes in the economy since 1994.

Based on these revised GDP numbers, in 2013 the economy registered growth of 6.7%. It is anticipated that growth will remain above 6% in 2014 and even higher over the medium term.

As we have indicated before, the prospects for the mining, agriculture, construction, manufacturing and tourism sectors are all bright. We expect these sectors to continue being strong drivers of growth and this is being supported by the strong investment in the transport and energy infrastructure that the Government is currently undertaking.

Our mandate at the Bank of Zambia is to achieve price and financial system stability. For the year 2014, our inflation objective is to attain an end-year inflation target of 6.5%. From the beginning of the year, inflation has generally been on an upward trend with the annual inflation rate rising from 7.1% in December 2013 to 7.8% in May 2014.

Factors contributing to these inflationary pressures include the depreciation in the exchange rate from the third quarter of 2013, higher food prices during the lean period between October 2013 and March 2014 prior to the crop harvest and the increase in fuel prices. More recently, the announcement that electricity prices are likely to be raised, will also add to inflationary pressures.

Having said this, we are confident that the increased investment in the electricity sector supported by economic tariff rates will bring the benefit of higher exports and more stable power supply, which ultimately will support export diversification, exchange rate stability, greater productivity in industry and lower inflation.

We are all aware that inflation is a corrosive influence on any economy and mostly hurts the poorest. The depreciation of the exchange rate is a strong driver of inflationary pressures and is, therefore a threat to the achievement of our inflation objective.

Some of the factors that have contributed to the depreciation in the exchange rate include but are not restricted to: a noticeable reduction in the supply of dollars to the market, particularly from the mining sector, which accounts for the bulk of foreign exchange supply. Over the first
quarter of 2014, we also noticed deterioration in the current account balance to a deficit of US $260.7 million from a surplus of US $28.7 million in the fourth quarter of 2013. The deterioration was largely accounted for by higher service payments.

Over the fourth quarter of 2013 and into the first quarter of 2014, there has also been a significant build-up of liquidity. This liquidity has supported demand for foreign exchange – and has ultimately led to the measures taken to tighten monetary policy. Developments in the international financial markets have also impacted on the Kwacha, as the strengthening of the dollar has led to a corresponding weakness in the Kwacha through financial flows.

It is because of the importance we attach to maintaining low inflation, that the Bank of Zambia has taken strong measures to address the rising inflation trend and the instability in the foreign exchange market by significantly tightening monetary policy.

In March 2014, the Monetary Policy Committee raised the BoZ policy rate by 50 basis points to 10.25%. The statutory reserve ratio was also increased to 14.0% from 8.0%, to help address the
high liquidity levels in the market. In April, we announced a further increase in the policy rate to 12.0%.

On May 30, 2014, the Bank of Zambia took further measures to tighten monetary policy by increasing the rate on the overnight lending facility to 10 percentage points above the policy rate from 6 percentage points. Further, the Bank has widened the application of statutory reserves to include Government deposits and Vostro accounts held by foreign financial institutions. The Bank of Zambia will also now require Banks to comply with statutory reserve requirements on a daily basis and not on an average basis as was previously the case.

In addition to these measures the Bank of Zambia has also intervened in the foreign exchange market to improve supply of foreign exchange. This is in line with its policy of managing volatility in the exchange rate, rather than targeting a specific level of the exchange rate.

With the measures we have taken, we have seen some stabilisation in the exchange rate over the past few days. We will remain alert to ensure that we achieve our objective of a flexible and market-determined exchange rate that reflects market fundamentals and promotes macroeconomic stability.

In addition to measures taken to tighten monetary policy, we have also had in-depth discussions with stakeholders in the financial sector. These discussions have focused on the foreign exchange market in general and the operations of the interbank market in particular. It is clear that working with the banking sector, there is a need to improve the efficiency of the foreign exchange market by eliminating the structural rigidities that have emerged. Some of these rigidities include the concentration of sources of supply, and the lower sales of foreign exchange, particularly by the mining sector.

The Bank of Zambia will continue to address the key structural constraints in the financial sector. We are confident that efforts to develop our financial markets and make the interbank foreign exchange market more efficient, coupled with the continued strong growth in non-traditional exports, will promote a diversified supply of foreign exchange and help achieve greater resilience in the foreign exchange market.

In conclusion, we wish to assure the general public that the Bank of Zambia and the Government are committed to maintaining macroeconomic stability and ensuring that the year of our golden jubilee becomes a stepping stone towards inclusive growth.

BOZ Governor

(Source: Bank of Zambia)

There are too many holes, as usual, in Gondwe’s statements. We will leave to others to explore. But it is striking that Gondwe appears to believe the tightening measures are responsible for the relative stability of the Kwacha we have seen over the last week.

In fact the simple reason the Kwacha has stabilised is because GRZ has asked the IMF to provide a bailout programme which will ultimately lead to austerity measures and downward management of the government budget deficit. In other words GRZ appears to have concluded that it needs policy credibility but handing over some degree of control over its fiscal plan to an external foreign body that the wider investor community is likely to have confidence in. It is an extraordinary admission of its ineptitude, but one which appears to be temporarily working.

The consequence is that the market now, for the moment, appears to believe that fiscal consolidation will now take place e.g. wages will continue to be frozen, no significant reckless spending will occur, etc. Whether President Sata will toll the IMF line is anybody’s guess. The way the government is currently organised is quite chaotic with no central intellectual centre.

There also increasing political fractures within PF, and with the possibility of an election looming, and more pressure for pre-2016 spending, it should soon become clearer that IMF programme will hardly provide the silver bullet needed to restore confidence. Much more needs to be done to on the politics.

Gondwe of course is the man in the middle. And an obvious challenge he is facing is that because he has never taken Economics 101. So he does not even realise that MARKET FUNDAMENTALS is actually a broad term in economics which includes not only the things he has mentioned such as inflation and interest rates, but also the state of the government’s budget deficit and the level of business and investor confidence.

One suspects that once the facts concerning Zambia have been absolved by all the relevant players in the next two or three weeks the downward trajectory of the Kwacha will resume. This has always been the pattern over the last three years.

By the way, it is interesting the economic growth projection now been downgraded! It was 7% in the 2014 budget. We are now talking about 6%. That is definitely the wrong direction. Zambia needs at least double digit growth to reduce poverty.

Africa Progress Report: Kofi Annan and other Panel Members to launch 2014 Africa Progress Report – Grain, Fish, Money

From: News Release – African Press Organization (APO)
From: News Release – African Press Organization (APO)

Kofi Annan and other Panel Members to launch 2014 Africa Progress Report – Grain, Fish, Money

The Africa Progress Panel will release its annual Africa Progress Report at the World Economic Forum on Africa held in Abuja, Nigeria

ABUJA, Nigeria, April 29, 2014/ — On Thursday, May 8th 2014, the Africa Progress Panel ( will release its annual Africa Progress Report – Grain, Fish, Money – Financing Africa’s Green and Blue revolutions, at the World Economic Forum on Africa held in Abuja, Nigeria.


Chaired by former UN Secretary-General, Kofi Annan, last year’s report Equity in Extractives – Stewarding Africa’s Natural Resources for all, made headlines with its analysis of the oil, gas, and minerals industries in Africa.

This year’s report will argue that Africa can and must unleash green and blue revolutions in its agriculture and fisheries. It will highlight the opportunities for Africa of the world’s growing demand for food and the critical importance of agriculture and fisheries for two thirds of people in Africa engaged in these sectors. The report will also recommend related policies, including policies to scale-up Africa’s infrastructure and extend its financial services. The report will also outline the urgent need to stop the plunder of Africa’s timber and fisheries.

The following Panel Members and Members of the Secretariat will be attending WEF on Africa to outline findings shared in the report.

• Kofi Annan, Chair, Africa Progress Panel, and former UN Secretary-General

• Olusegun Obasanjo, Member, Africa Progress Panel, and former President of Nigeria

• Peter Eigen, Member, Africa Progress Panel, Founder of Transparency International, and Founding Chair and Special Representative of the Extractive Industries Transparency Initiative (EITI)

• Bob Geldof, Member, Africa Progress Panel, Musician, Businessman, Founder and Chair of Band Aid, Live Aid and live8, Co-Founder of DATA and ONE Advisor and Advocate

• Caroline Kende-Robb, Executive Director, Africa Progress Panel

• Max Bankole Jarrett, Deputy Executive Director, Africa Progress Panel

Note to editor:

• Caroline Kende-Robb and Max Bankole will both be available for telephonic interviews from Tuesday 29 April until Friday 2 May, in build-up to WEF on Africa and the content expected to be shared during the official introduction of the 2014 report. There is limited interview slots available and email confirmation is required.

• Additional interviews with the panel outline above will be made available during WEF and can be arranged beforehand, again there are limited slots with each panel member and media will accommodated on a first come first served basis.

• The embargoed insights release and 2014 APP report will be sent out on Wednesday 7 May 2014.

Distributed by APO (African Press Organization) on behalf of the Africa Progress Panel (APP).

For further information, please contact:
Hill+Knowlton Strategies (d) +27 11 463 2198
Victoria Williams (m) +27 72 452 1772

Geraldine Trennery (m) +27 82 677 5201

About the Africa Progress Panel

Chaired by Kofi Annan, former Secretary-General of the United Nations, the ten-member Africa Progress Panel ( advocates at the highest levels for equitable and sustainable development in Africa. The Panel releases its flagship publication, the Africa Progress Report, every year in May.

Africa Progress Panel (APP)

AU: The Big African Currency Question A Must Read

From: Juma Mzuri

By: Horace Campbell

When the Constitutive Act of the African Union was written to implement the Sirte Declaration, there were three financial institutions that were established to facilitate inter-African trade.

These were: the African Investment Bank (AIB), the African Monetary Fund (AMF) and the African Central Bank (ACB). It was agreed that it would be necessary to establish a single common currency in Africa in order to speed economic integration.

The planning for the African Monetary Fund and for the African Central Bank was supposed to be a phased process alongside the process of the full unification of Africa, leading towards the Union Government of Africa.

When the Constitutive Act was written, there was no sense among the leaders of Africa that the capitalist crisis would bring down governments in Europe, spawn a Eurozone crisis along with the current currency war that is being waged against the poorer nations.

Since the start of 2014 the world has witnessed a new battle ground as currency speculators put the reserves of poorer countries under pressure. The attacks on the currencies of societies such as Argentina, Brazil, Indonesia, South Africa, Turkey, India, and others have reached the front pages of international news beyond the financial pages.

What is clear is the predators on Wall Street are now attacking the currencies of the exploited world and nations with the smallest reserves have to dig into their reserves to fend off currency speculators as we are continuing to see the exchange rates of Africa under pressure.

What is less clear in many countries in Africa and other parts of the Developing World, though, is the ways in which this currency war is inextricably linked to the volatility of Wall Street. Neo-liberal interpretations of the world allow policymakers to promote prescriptions that exacerbate capital flight from Africa. The belief in markets is one myth that has suborned technicians in Africa to continue to support the political and military power of the USA. The assertion that the United States has a comparative advantage as an originator of high value quality financial assets can now be dismissed as the justification for supporting the military power of the USA.

It is within this context that it is urgent that Africa begins to work toward a single currency.

One of the prior steps would be to establish the African Currency unit with strict benchmarks for the integration of Africa towards the adoption of a single currency.

Without the establishment of the African Central Bank that functions under democratic control, and a credible African currency the drain of resources will continue. The amount of documented evidence is well known. Research from the African Development Bank (AfDB) revealed in May 2013 that in the three decades from 1980 to 2009, African countries lost up to $1.4trillion in illicit financial flows, known as capital flight. These figures from the African Development Bank are repeating the scholarly findings of James K. Boyce and Léonce Ndikumana that has been around for about twenty years.

One of the most urgent political matters for the progressive forces is to end the capital flight from Africa and the seizure of African resources for external forces in alliance with African militarists. Capital flight from Africa ensures that there are no resources for infrastructure, for social development and programs and to provide for the needs of the majority of the African peoples.

Progressives and those working for the full unification of Africa should be promoting the process of establishing a common currency in Africa so that Africans no longer keep their foreign currency reserves in the US dollar, Euro or the pound sterling.

Africans can learn a lot from what is being done in the ASEAN societies where the first step of monetary integration has been placed on the table in the form of the Chiang Mai Initiative. This Initiative has laid the basis for a number of ventures such as bilateral swaps to protect the societies of East Asia from the Wall Street foreign exchange traders and to enhance regional trade. The planning for the Asian Currency Unit is following the lines of creating a firewall in Asia to protect the societies from the currency wars being waged by currency traders.

Within Asean states bilateral pacts to swap and repurchase central-bank reserves have prevented the kind of raiding that went on at the time of the Asian financial crisis 1997-1998. These societies in Asia do not agree politically and have many differences but they are all agreed to establish various initiatives to ensure that their societies are not bullied by the IMF or the World Bank. Moreover, they have learnt the harsh lessons from 1997 when George Soros and other derivative traders undermined their currencies.

The establishment of the Asian Monetary Fund and the Asian Bond Fund have been supported to escape the surveillance and strictures of the International Monetary Fund. Thus, the Asian Bond Market, the Asian Monetary Fund and the Chiang Mai Initiative are all steps on the road towards the single currency in Asia. In order to seal this pathway, they have now launched the Regional Comprehensive Economic Partnership (RCEP) which is to be concluded by 2015.

In short, the citizens of Asia are now waiting for the collapse of the dollar to disengage from the International Monetary Fund and the raiding of currencies by Wall Street Traders.

Despite the clear planning for Free Trade Areas in Asia, the levels of integration in Africa at the level of the people are in many ways more advanced than Asia.

Traders in differing parts of Africa, especially women traders from West Africa, have demonstrated a certain ease in traversing the continent and doing business. The customs and immigration laws across Africa continue to hinder the free flow of goods, services and people. International capital and international capitalist can move freely across the lines drawn in Africa as borders, but the so called leaders continue to try to enforce laws that prevent the freedom of movement while they and their family illicitly export needed reserves from Africa.

The majority of African governments keep their reserves in dollars. Their membership of the IMF dictates the terms of their financial engagement with the international capitalist system. The US devalues the dollar by printing US$65 billion every month. Africans are losing in a number of ways but two are most blatant.

First, many African states keep their reserves in dollars and these are devalued under the Quantitative Easing of the USA dollar which permits the Federal Reserve of the USA to simply offload dollars on the world. In the past three years the US government has been printing over a trillion dollars every year.

Second, foreign exchange reserves have to be used as a shock absorber during times of volatility when Central Banks have to use their reserves to buffer their currencies against sharp decline by buying even more US dollars to support their currency. Another hidden side of the super exploitation of Africa emerges in the form of those central banks that are hedging against the dollar. Many of the oil producing states of the Middle East are hoarding gold because of the currency wars and the devaluation of the dollar.

These societies support front persons in Africa that abet the flow of gold and diamonds out of Africa.

Tanzania: Revealed: Robbery at Barclays branch was faked

From: Fakhi Karume

Last week’s “robbery” at Barclays Bank’s Kinondoni branch, where armed gangsters reportedly grabbed Sh300 million, was faked, The Citizen can authoritatively report.

Impeccable sources close to the ongoing investigation into the incident confided in The Citizen that the “raid” by three men was planned and executed to cover up the theft of tens of millions of shillings that had previously taken place at the branch.

Some employees at the branch are said to have colluded with rogue police officers to fake a robbery in an attempt to hide the truth about the theft. The workers, including a senior official at the branch, are among those being held for questioning.

According to our inquiries, detectives are also looking for a police officer from Oyster Bay Police Station, who disappeared as investigators zeroed in on him.

The officer vanished after learning that one of the suspects had told detectives about the stage-managed “raid” and the role of the fugitive.

Yesterday, Dar es Salaam police boss Suleiman Kova declined to give details about the progress of the investigation, saying he would do so today at a news conference.

Asked about the whereabouts of the fugitive police officer, Mr Kova said: “We are still gathering and receiving more information and will give a comprehensive statement at a media briefing later.”

Earlier, Kinondoni Regional Police Commander Camillius Wambura told The Citizen that briefings on the incident would henceforth be provided by Mr Kova.

Contacted for comment yesterday, Barclays head of Marketing and Communications Neema-Rose Singo told The Citizen that she had nothing to say as it was a public holiday.

According to eyewitnesses, the “robbery” took place at around 9.30am last Tuesday and involved three men, who had arrived at the bank on a motorcycle. One remained outside while his accomplices entered the branch and walked out a few minutes later with a big bag that was purportedly stuffed with hundreds of millions of shillings.

The three men jumped on their motorcycle and sped away. Police arrived at the scene about 20 minutes later.

No shot was fired and the casual manner of the “robbers” raised eyebrows.

A day after the incident, some employees at the bank and several other people were arrested and their mobile phones confiscated by police as part of the investigation.

The source said the suspects were questioned separately in the presence of Mr Wambura and other senior police officers.

According to the source, drama unfolded when one of the bank’s employees volunteered to spill the beans as soon as he entered the interrogation room.

“He pleaded with investigators not to be too hard on him as he was ready to reveal the truth.

“At that juncture, one of the police officers (name withheld) asked to be allowed to leave the room, saying he was not feeling well.

“As soon as the officer had left, the Barclays employee said the officer who had just gone out knew everything about the plot,” the source said.

The employee told investigators that a huge amount of money had already been stolen at the branch and the “robbery” was a way of covering up the theft. He said the police officer in question knew everything beforehand.

Noticing that the officer was taking too long to return to the interrogation room, his boss telephoned him, only to be told by the officer that he had gone home because he was not feeling well.

When his bosses decided to trace him to his home, the officer was nowhere to be seen, and the gun he was carrying was found abandoned at a corner of the police building.

Last week, Ms Singo said the bank and its employees would cooperate with police in their endeavour to get to the bottom of the incident. The branch re-opened a day after the “raid”.

Police are under the spotlight again after a gang raided the Kariakoo branch of Habib Bank and reportedly made off with Sh1 billion last August.

Police have yet to arrest a suspect after what Mr Kova said was an incident that had all the hallmarks of an inside job.

The casual manner of the “robbers”, who nonchalantly strolled in and out of the bank in broad daylight without bothering to hide their identities, has fuelled complicity theories.

Some 48 hours later, police still seemed to have no idea who they were.–Robbery-at-Barclays-branch-was-faked/-/1840392/2288192/-/tdpfxkz/-/index.html

Africa: EnergyNet recognised by British Prime Minister and H.M. Queen Elizabeth II in Birthday Honours

From: News Release – African Press Organization (APO)

EnergyNet recognised by British Prime Minister and H.M. Queen Elizabeth II in Birthday Honours

EnergyNet organises a global portfolio of investment meetings, conferences and infrastructure events focused specifically on the power and industrial sectors across Africa

LONDON, United-Kingdom, April 22, 2014/ — EnergyNet ( is delighted to announce that on the advice of the British Prime Minister, the Rt Hon David Cameron, Her Majesty Queen Elizabeth II will present EnergyNet Ltd. the Queens Award for Enterprise: International Trade, the UK’s highest accolade for business success.


This award has been made in recognition of EnergyNet’s international success over the last three years uniting public and private sector leaders under one common goal; to increase investment success in Africa’s power sector, promoting economic development and job creation.

Simon Gosling, MD, EnergyNet says – “Over the past few years we have been witness to a political landscape that has shifted dramatically, where Ministers from Nigeria, Kenya, Mozambique, Tanzania, Ethiopia, Ghana, Cameroon, South Africa and beyond have had to adapt to meet the needs of both ‘the people’ demanding increased access to energy and also the international investors that will help to deliver that energy.

As a reflection of this, EnergyNet’s portfolio has grown whilst remaining committed to our highly focused industry demographic, building strategic alliances with key businesses that are shaping the investment landscape across Africa, including; Norton Rose Fulbright, Aggreko, KenGen, APR Energy, GE, Schneider Electric, IIPELP, Copperbelt Energy Corp, TANESCO, National Treasury South Africa, CADFund, Globeleq, Symbion Power, Standard Bank, Standard Chartered Bank, OPIC, USAID, MCC, IFC, AFC, World Bank and AfDB.

It is these leaders who are laying the foundations for future generations and that are the champions for tomorrow’s success. However, it is the entrepreneurs of tomorrow that will create the biggest transformation. They will have the opportunity to squander what today’s industrialists build or to take continent forward to a 23rd century where Africa is King.

To support those entrepreneurs and industrialists of tomorrow we have established the ‘EnergyNet Student Engagement Initiative’ bringing legal, finance and engineering students to our international forums to promote capacity building and their own awareness of ‘Africa’s industrial potential’. It will also enable them to gain a deeper insight into the nuances of doing international business across all foreign continents which for us as a content provider is hugely important for the development of international trade for Africa.

It is an exceptional honour to have one’s achievements recognised. It is a reflection of our partners that have consistently supported EnergyNet and our values over the years and that have invested heavily (beyond just financial investment) ‘turning the lights on in this incredible continent’.

Inspiration comes in many forms, today we have been inspired to do more and to be better, but equally important, we have been inspired to remain resolute in our business strategy, linking the impact of power generation to job creation.”

Distributed by APO (African Press Organization) on behalf of EnergyNet Ltd.

For more information please contact:

Amy Offord, Senior Marketing Executive
EnergyNet Ltd.
T: +44 20 7384 8068

About EnergyNet:

Who we are:

EnergyNet Ltd. ( organises a global portfolio of investment meetings, conferences and infrastructure events focused specifically on the power and industrial sectors across Africa.

Proven to engage the decision makers and technical directors behind Africa’s most exciting economies, EnergyNet places economic development at the heart of industrial solutions, helping to generate a more stable and viable investment option for your organisation in Africa. We challenge the way your business does business in Africa; the information we provide isn’t available on the internet and isn’t out of a dusty old textbook.

Whilst EnergyNet is an Africa focused team of researchers and experienced power conference professionals, we are owned and supported globally by the UK’s largest conference and exhibitions organisation, Clarion Events. With vast resources and over 500 people covering defence, energy and utilities in Brazil, Germany, London, New York, San Francisco, South Africa, Turkey, Abu Dhabi and Singapore, EnergyNet Ltd and Clarion Events are committed to providing global insights and local partnerships.

What we do:

Knowledge, passion, detailed research and commercial thinking drive our daily activities so that our content is always ahead of the curve and our speakers are relevant and at the cutting edge of sector developments. We need to be proud of what we deliver.

Trust and confidence shape our relationships and we appreciate that we often represent major corporations and their brands. globally. The responsibility of caring for each of our clients’ brands is something that we take very seriously.

Most importantly, we listen to stakeholders from both the public and private sectors so that we can react better to the changing investment climates around the world.

EnergyNet delivers local strategies, local content and local insights for global businesses.

How can Energynet support your P&L and help limit your risk:

EnergyNet works with governments, energy and infrastructure ministries and national utilities across Africa. We work with our partners to understand their strategic needs and bring together solution providers to support those goals.

We focus on core industry providers including private power developers, investment banks and DFIs, Lawyers, credible consultants, EPCs and immediate power providers to support contract delivery and project success.

It’s not so much about the ‘global’ economies as the ‘local’ economies:

We understand what it takes to work in challenging environment to generate, transmit and distribute power, and how easily millions of dollars are wasted because of changing politics, out of date industry data or simply cultural nuances. We will support your business development by connecting you with stakeholders that provide you direction and technical insight and will work directly with you to answer the most pressing questions challenging your business.

By attending one of the EnergyNet Forum’s or Powering Africa: Series’, you’ll only meet people relevant to major power and industrial projects, including; national and local government, industrial cluster and free trade zones, major power users such mining, ports and international shipping companies as well as the legal, finance and technical solution providers behind many of Africa’s power projects.

EnergyNet has proved over the last 15yrs that by remaining focused, you can build a network that can find solutions in the most challenging of environments – “It’s all about what you know and who you know!”

EnergyNet Ltd.

Africa: FY 2014 Funding Opportunity Announcement for NGO Programs Benefiting Refugees in Chad and Cameroon

From: U.S. Department of State
Bureau of Population, Refugees, and Migration
April 16, 2014

Funding Opportunity Number: PRM-PRMOAPAF-14-014

Catalog of Federal Domestic Assistance (CFDA) number:
19.517 – Overseas Refugee Assistance Programs for Africa

Announcement issuance date: Wednesday, April 16, 2014

Proposal submission deadline: Friday, May, 16, 2014 at 12:00 p.m. noon EDT. Proposals submitted after this deadline will not be considered.

**ADVISORY: All applicants must submit proposals through the website PRM strongly recommends submitting your proposal early to allow time to address any difficulties that may arise.**

If you are new to PRM funding, the registration process can be complicated. We urge you to refer to PRM’s General NGO Guidelines “New to PRM Funding” section for information and resources to help ensure that the application process runs smoothly. PRM also strongly encourages organizations that have received funding from PRM in the past to read this section as a refresher.

Proposed program start dates: August 1, 2014-September 15, 2014

Eligible Applicants: (1) Nonprofits having a 501(c)(3) status with IRS, other than institutions of higher education; (2) Nonprofits without 501(c)(3) status with IRS, other than institutions of higher education; and (3) International Organizations. International multilateral organizations, such as United Nations agencies, should not submit proposals through in response to this Funding Opportunity Announcement. Multilateral organizations that are seeking funding for programs relevant to this announcement should contact the PRM Program Officer (as listed below) on or before the closing date of the funding announcement.

Duration of Activity: 12 to 24 months

Program plans from 12 to 24 months will be considered. Applicants may submit multi-year proposals with activities and budgets that do not exceed 24 months from the proposed start date. Actual awards will not exceed 12 months in duration and activities and budgets submitted in year one can be revised/updated each year. Continued funding after the initial 12- month award requires the submission of a noncompeting continuation application and will be contingent upon available funding, strong performance, and continuing need. In funding a project one year, PRM makes no representations that it will continue to fund the project in successive years and encourages applicants to seek a wide array of donors to ensure long-term funding possibilities. Please see Multi-Year Funding section below for additional information.

Current Funding Priorities for refugees in Chad and Cameroon:

PRM will prioritize funding for proposed NGO activities that best meet the Bureau’s priorities for refugees in Chad and Cameroon as identified below.

(a) Proposed activities should primarily support Sudanese refugees residing in the 13 camps in eastern Chad; Central African refugees in the five camps in southern Chad or in UNHCR-designated host communities; or Central African refugees residing in eastern Cameroon. Because of PRM’s mandate to provide protection, assistance, and sustainable solutions for refugees and victims of conflict, PRM will consider funding only those projects that include a target beneficiary base of at least 50% refugees.

(b) Proposals must focus on the following sectors:

Health (including reproductive health)
Water, Sanitation, and Hygiene (WASH)
Prevention of and Response to Gender-based Violence
Psychosocial Support
Child Protection, to include secondary education for Sudanese refugees

Country Specific Instructions

(1) Chad

Proposals should focus on Sudanese refugees in the 13 camps in eastern Chad and/or Central African refugees in the nine camps or UNHCR-designated host communities in southern Chad.
Proposals may include work in the following areas: Primary health care, including reproductive health; secondary education; prevention of and response to gender-based violence; WASH; and livelihoods.
Proposals should include a well-developed plan for training and building the capacity of local staff and service providers as well as building refugee self-sufficiency.
Proposal should include a transition plan for long term sustainability of programming.

(2) Cameroon

Proposals should focus on new Central African refugees residing in eastern Cameroon. Proposals may include work in the following: prevention of and response to gender-based violence.

(c) PRM Standardized Indicator Initiative:

Health: Proposals focusing on health in camp based settings must include a minimum of one of the four following indicators and should try to include as many of the other indicators as are relevant:

Number of consultations/clinician/day (Target: Fewer than 50 patients per clinician per day).
Measles vaccination rate for children under five (Target: 95% coverage).
Percentage of deliveries attended by a skilled birth attendant in a health care facility (Target: 100%).
Percentage of reporting rape survivors given post-exposure prophylaxis (PEP) with 72 hours (Target: 100%).

NGO proposals seeking to fund service provision may include the following indicators as appropriate:

Primary Care: number and percentage of beneficiary patients, by sex and age, receiving primary health care assistance.
Emergency Care: number and percentage of beneficiary patients, by sex and age, receiving care for trauma or sudden illness.

Proposals should include custom health indicators in addition to the relevant standardized indicator(s).

Key Resources – Health

Sphere Handbook:
UNHCR Health Guidelines, Policies, and Strategies:
OFDA NGO Guidance (pages 96-110):

Livelihoods: Proposals focusing on livelihoods in camp-based settings must include a minimum of one of the three following indicators and should try to include as many of the other indicators as are relevant:

Camp-Based Settings:

Number of project beneficiaries, disaggregated by gender and population (refugee, national) receiving training on appropriate skills as determined by market and livelihood assessments. This may include language and skills training, entrepreneurship building, financial literacy, business support services, job placement and apprenticeship schemes, and/or legal aid.
Number and percentage of program participants, disaggregated by gender and population (refugee, national) reporting higher household income level by end of project period as compared to the pre-project baseline assessment.
(Temporary Employment) Number of beneficiaries, disaggregated by gender and population (refugee, national) participating in cash or food for work programs.

Proposals should include custom livelihoods indicators in addition to the relevant standardized indicator(s).

Key Resources – Livelihoods

USAID/OFDA Guidelines for Proposals, October 2012 (pgs. 82-96)
Women’s Refugee Commission, Preventing Gender Based Violence, Building Livelihoods: Guidance and Tools for Improved Programming
Minimum Economic Recovery Standards, 2nd ed. Washington, DC, USA: The SEEP Network, 2010.
Emergency Market Mapping and Analysis Toolkit. (EMMA) Practical Action Publishing. 2010. (In French as of 2011.)
Local Economic Recovery in Post-Conflict: Guidelines. Geneva: ILO, 2010.—ed_emp/documents/instructionalmaterial/wcms_141270.pdf

(d) Proposals must have a concrete implementation plan with well-conceived objectives and indicators that are specific, measurable, achievable, relevant and reliable, time-bound, and trackable (SMART), have established baselines, and include at least one outcome or impact indicator per objective; objectives should be clearly linked to the sectors.

(e) Proposals must adhere to relevant international standards for humanitarian assistance. See PRM’s General NGO Guidelines for a complete list of sector-specific standards including new guidance on proposals for projects in urban areas.

(f) PRM strongly encourages programs that target the needs of vulnerable and underserved groups among the beneficiary population (women; children; lesbian, gay, bisexual, transgender, or intersex (LGBTI) individuals; older persons; the sick; persons with disabilities; and other minorities) and can demonstrate what steps have been taken to meet the specific and unique protection and assistance needs of these vulnerable groups effectively. NOTE: PRM partners must now complete a gender analysis (see PRM proposal template, section 3a) that briefly analyzes (1) gender dynamics within the target population (i.e., roles, power dynamics, and different needs of men and women, girls and boys); (2) associated risks and implementation challenges for the project posed by those dynamics; and (3) how program activities will mitigate these protection risks and be made accessible to vulnerable groups (particularly women and girls). A gender analysis is a requirement prior to PRM making a final funding award.

(g) PRM will accept proposals from any NGO working in the above mentioned sectors although, given budgetary constraints, priority will be given to proposals from organizations that can demonstrate:

a working relationship with UNHCR, current UNHCR funding, and/or a letter of support from UNHCR for the proposed activities and/or overall country program (this letter should highlight the gap in services the proposed program is designed to address);
a proven track record in providing proposed assistance both in the sector and specified location;
evidence of coordination with international organizations (IOs) and other NGOs working in the same area or sector as well as – where possible – local authorities;
a strong transition plan, where feasible, involving local capacity-building;
where applicable, adherence to PRM’s Principles for Refugee Protection in Urban Areas available online at
a budget that demonstrates co-funding by non-U.S. government sources.

Funding Limits: Project proposals must not be less than $250,000 and not more than $2.5 million or they will be disqualified. As stated in PRM’s General NGO Guidelines, PRM looks favorably on cost-sharing efforts and seeks to support projects with a diverse donor base and/or resources from the submitting organization.

Proposal Submission Requirements: Proposals must be submitted via (not via If you are new to PRM funding, the registration process can be complicated. We urge you to refer to PRM’s General NGO Guidelines “New to PRM Funding” section for information and resources to help ensure that the application process runs smoothly. PRM also strongly encourages organizations that have received funding from PRM in the past to read this section as a refresher. Applicants may also refer to the “Applicant Resources” page on for complete details on requirements (

Please note the following highlights:

Do not wait until the last minute to submit your application on Organizations not registered with should register well in advance of the deadline as it can take up to two weeks to finalize registration (sometimes longer for non-U.S. based NGOs to get the required registration numbers). To register with, organizations must first receive a DUNS number and register with the System for Award Management (SAM) at which can take weeks and sometimes months. We recommend that organizations, particularly first-time applicants, submit applications via no later than one week before the deadline to avoid last-minute technical difficulties that could result in an application not being considered. PRM partners must maintain an active SAM registration with current information at all times during which they have an active federal award or an application under consideration by PRM or any federal agency.
Applications must be submitted under the authority of the Authorized Organization Representative (AOR) at the applicant organization. Having proposals submitted by agency headquarters helps to avoid possible technical problems.
If you encounter technical difficulties with please contact the Help Desk at or by calling 1-800-518-4726. Applicants who are unable to submit applications via due to technical difficulties and who have reported the problem to the help desk, received a case number, and had a service request opened to research the problem, should contact the relevant PRM Program Officer to determine whether an alternative method of submission is appropriate.
Pursuant to U.S. Code, Title 218, Section 1001, stated on OMB Standard Form 424 (SF-424), the Department of State is authorized to consolidate the certifications and assurances required by Federal law or regulations for its federal assistance programs. The list of certifications and assurances can be found at:

Proposal Content, Formatting and Template: This announcement is designed to accompany PRM’s General NGO Guidelines, which contain additional administrative information on proposal content and formatting, and explain in detail PRM’s NGO funding strategy and priorities. Please use both the General NGO Guidelines and this announcement to ensure that your proposal submission is in full compliance with PRM requirements and that the proposed activities are in line with PRM’s priorities. Proposal submissions that do not meet all of the requirements outlined in these guidelines will not be considered.

PRM strongly recommends using the proposal and budget templates that are available upon email request from PRM’s NGO Coordinator. Please send an email, with the phrase “PRM NGO Templates” in the subject line, to PRM’s NGO Coordinator. Single-year proposals using PRM’s templates must be no more than 20 pages in length (Times New Roman 12 point font, one inch margins on all sides). If the applicant does not use PRM’s recommended templates, proposals must not exceed 15 pages in length. Organizations may choose to attach work plans, activity calendars, and/or logical frameworks as addendums/appendices to the proposal. These attachments do not count toward the page limit total however annexes cannot be relied upon as a key source of program information. The proposal narrative must be able to stand on its own in the application process.

To be considered for PRM funding, organizations must submit a complete application package including:

Proposal reflecting objectives and indicators for each year of the program period.
Budget and budget narrative for each year of the program period.
Signed completed SF-424.

In addition, proposal submissions to PRM should include the following information:

Focus on outcome or impact indicators as much as possible. At a minimum, each objective should have one outcome or impact indicator. Wherever possible, baselines should be established before the start of the project.
To increase PRM’s ability to track the impact of PRM funding, include specific information on locations of projects and beneficiaries (GPS coordinates if possible).
Proposals should outline how the NGO will acknowledge PRM funding. If an organization believes that publicly acknowledging the receipt of USG funding for a particular PRM-funded project could potentially endanger the lives of the beneficiaries and/or the organization staff, invite suspicion about the organization’s motives, or alienate the organization from the population it is trying to help, it must provide a brief explanation in its proposal as to why it should be exempted from this requirement.
The budget should include a specific breakdown of funds being provided by UNHCR, other USG agencies, other donors, and your own organization. PRM strongly encourages multilateral support for humanitarian programs.
In FY 2014, PRM is asking applicants whose proposals address gender-based violence (GBV) through their projects to estimate the total cost of these activities as a separate line item in their proposed budgets. PRM’s budget template document has been updated to reflect this new requirement.
Gender analysis (See above. Required before an award can be made).
Copy of the organization’s Code of Conduct (required before an award can be made).
Copy of the organization’s Security Plan (required before an award can be made).
Proposals and budgets should include details of any sub-agreements associated with the program.
Most recent Negotiated Indirect Cost Rate Agreement (NICRA), if applicable.
NGOs that have not received PRM funding since the U.S. government fiscal year ending September 30, 2004 must be prepared to demonstrate that they meet the financial and accounting requirements of the U.S. government by submitting copies of 1) the most recent external financial audit, 2) proof of non-profit tax status including under IRS 501 (c)(3), as applicable, 3) a Data Universal Numbering System (DUNS) number, and 4) an Employer ID (EIN)/Federal Tax Identification number.
Organizations that received PRM funding in FY 2013 for activities that are being proposed for funding under this announcement must include the most recent quarterly progress report against indicators outlined in the cooperative agreement. If an organization’s last quarterly report was submitted more than six weeks prior to the submission of a proposal in response to this funding announcement, the organization must include, with its most recent quarterly report, updates that show any significant progress made on objectives since the last report.

Multi-Year Funding: Applicants proposing multi-year programs should adhere to the following guidance:

Applicants may submit proposals that include multi-year strategies presented in 12-month cycles for a period not to exceed 24 months from the proposed start date. Fully developed programs with detailed budgets, objectives and indicators are required for each year of activities. These can be updated yearly upon submission of continuation applications. Applicants should note that they may use PRM’s recommended multi-year proposal template for this application, which is different from the single year template. Multi-year funding applicants may also use PRM’s standard budget template and should submit a separate budget sheet for each project year. Multi-year proposals using PRM’s templates must be no more than 30 pages in length (Times New Roman 12 point font, one inch margins on all sides). If the applicant does not use PRM’s recommended templates, proposals must not exceed 25 pages in length. Organizations may choose to attach work plans, activity calendars, and/or logical frameworks as addendums/appendices to the proposal. These attachments do not count toward the page limit total.

Multi-year applications selected for funding by PRM will be funded in 12- month increments based on the proposal submitted in the initial application as approved by PRM. Continued funding after the initial 12- month award requires the submission of a noncompeting continuation application and will be contingent upon available funding, strong performance, and continuing need. Continuation applications must be submitted by the organization no later than 90 days before the proposed start date of the new award (e.g., if the next project period is to begin on September 1, submit your application by June 1). Continuation applications are submitted in lieu of responding to PRM’s published call for proposals for those activities. Late continuation applications will jeopardize continued funding.

Organizations can request multi-year funding and continuation application templates by emailing PRM’s NGO Coordinator with the phrase “PRM NGO Templates” in the subject line.

Reports and Reporting Requirements:

Program reporting: PRM requires quarterly and final program reports describing and analyzing the results of activities undertaken during the validity period of the agreement. It is highly suggested that NGOs receiving PRM funding use the PRM recommended program report template. To request this template, send an email with the phrase “PRM NGO Templates” in the subject line to PRM’s NGO Coordinator.

Financial Reports: Financial reports are required within thirty (30) days following the end of each calendar year quarter during the validity period of the agreement; a final financial report covering the entire period of the agreement is required within ninety (90) days after the expiration date of the agreement.

For more details regarding reporting requirements please see PRM’s General NGO Guidelines.

Proposal Review Process: PRM will conduct a formal competitive review of all proposals submitted in response to this funding announcement. A review panel will evaluate submissions based on the above-referenced proposal evaluation criteria and PRM priorities in the context of available funding.

PRM may request revised proposals and/or budgets based on feedback from the panel. PRM will provide formal notifications to NGOs of final decisions taken by Bureau management.

Branding and Marking Strategy: Unless exceptions have been approved by the designated bureau Authorizing Official as described in the proposal templates that are available upon email request from PRM’s NGO Coordinator, at a minimum, the following provision will be included whenever assistance is awarded:

As a condition of receipt of this assistance award, all materials produced pursuant to the award, including training materials, materials for recipients or materials to communicate or promote with foreign audiences a program, event, project, or some other activity under this agreement, including but not limited to invitations to events, press materials, event backdrops, podium signs, etc. must be marked appropriately with the standard U.S. flag in a size and prominence equal to (or greater than) any other logo or identity. Subrecipients and subsequent tier sub-award agreements are subject to the marking requirements and the recipient shall include a provision in the subrecipient agreement indicating that the standard, rectangular U.S. flag is a requirement. In the event the recipient does not comply with the marking requirements as established in the approved assistance agreement, the Grants Officer Representative and the Grants Officer must initiate corrective action.

PRM Points of Contact: Should NGOs have technical questions related to this announcement, they should contact the PRM staff listed below prior to proposal submission. Please note that responses to technical questions from PRM do not indicate a commitment to fund the program discussed.

PRM Program Officer: Kristen Frost,, (202) 453-9383, Washington, D.C.

Regional Refugee Coordinator: Mary Eileen Earl,, (235) 22-51-70-09 ext. 4323, U.S. Embassy, N’Djamena.

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ICC orders Kenya to report on Uhuru wealth

From: maina ndiritu

I have a feeling this matter is going to drag the presidents case , Bensouda seems to believe that her case maybe strengthened by such financial details … but her strengthening does not in any way point to information in the financial records but the elongation of the trial , I can assure you the main contest of the day will be whether the financial details are true or not and as long as she can prolong the case perhaps over a period of two years …. in her books and those of her co-conspirators she will be confident that she did her best irrespective of the inevitable outcome


reports Leo Odera Omolo

THERE were circuses and near physical combat on Tuesday this week when a group of local land foreign investors toured the facility for the purpose of making assessment about its viability ahead of its privatization ,which is scheduled in two months time.

The investors were accompanied by the officials from NEMA, but they were confronted at the gate cf the facility by rowdy goons masquerading as local farmers and stakeholders who threatened to beat them up forcing the group to cut short and call off their mission.

It has since been established that a cartel of wealthy Kisumu based Indians with the vested interest in Miwani Sugar Mills had held a secret night meeting the with the goons previous night at undisclosed venue within Miwani and instructed the youth not to allow any other groups of potential investors to access the facility.

Mi9wani sugar Mills the oldest sugar factory in Kenya which was the first to be established in the country in 1927 by an Australian white settler farmer is currently closed. It went burst in 2001 and was placed under the joint official protective official receivership together with the Muhoroni Sugar MILLS by the government which is the sole shareholder.

The goons acting at the behest of their invisible hirer masters insisting that there should be no visit to the facility before it was advertised for privatization and were adamant not to allow any such visit. They also threatened to burn down the vehicles that conveyed the investors to the facility unless the owners made a quick about-turn.

Businessmen intending to make their bid for Miwani Sugar Mills are said to be very much scared after getting the information about the expected cut-throat competition involving the hiring of criminal thugs. \they have expressed the fear that unless the government moves much faster with speed and advertise when it plan to off-load its shares as all the five public owned sugar factories in Western Kenya the possibility of the exercise being sabotaged by the interested parties cannot be ruled out.

All the previous attempt to have Miwani sold to private entrepreneurs have always hit the snag. The attempts were followed with series of court cases filed on flimsy grounds deliberately to have the exercise time barred. When the cases were finally over and determined, some unnamed officials at the lands Ministry corruptly and deliberately withheld the facility’s land title deeds pre-empting the transactions.

The major source of all the commotions is the 10,000 hectares Miwani nucleus estate farm, which some wealthy cartel of RICH Indians tycoon based in Miwani and Kisumu have focused their attention and hell-bent grab through the hook or crook. These cartels of crooks have been putting all sorts of barriers on the path of Miwani Sugar Mll’s privatization, while its owner which is the government seemed to be toothless bull=dog on the issue.

The carcasses which erupted at the facility is the clear indication that something fishy is going on, which calls for the government action.



By Our Reporter

A section of luo Members of Parliament are up in arms against Kisumu County police and the Provincial Administration for having “hidden and failed” to invite them to Deputy President William Ruto’s function last week in Kisumu and missing the generous handout from the DP.

Ruto who was being hosted by the Seventh Day Adventist Church in Kisumu towards the the construction of their Western Kenya Headquarters caught many by surprise whewn he landed directly at the venue with a chopper after seeing off President Uhuru Kenyatta at Kisumu’s International who flew to Rwanda after they had flown in from Nairobi then headed to Funyula.

Surprisingly none of the luo Members of Parliament nor any Senator attended the function save only for Homa Bay Governor Cyprian Otieno Awiti and the host Jack Ranguma.

The MPs who were in various functions within and out of their constituencies were said to be making ranting calls to their men on the ground demanding to know if they could catch up with Ruto.

However Ruto took only thirty minutes to raise over kshs 20 million and left for Nairobi as most of the MPs were on their way to his function not to contribute towards the harambee but to see him with a view of “milking him”.

“My boss was disappointed as we were making our way from Kericho to Kisumu only for us to reach Kaitui and see the DP chopper heading to Nairobi, he was on his private errands and had hoped to get some little money from the DP” lamented one aide of luo MP.

Ruto had earlier been accompanied by his youthful MPs who gave generously during the function.

One MP called a senior police officer within the County and threatened him with a transfer if that is how they will be handling them in regard to both the Presidential and the DP tour.

“How can they hide such a visit from me yet I am an MP within this area, either they did it intentionally or they had firm instructions to keep us in the dark “said another MP.

Another one is said to have called a Provincial Administrator within the county crying to him why he was never told of such a visit.

“Bwana Governor, you know how generous that man usually is, surely what wrong did I do to you to hide such a visit from me, imagine I have been trying to see him for the last four months in his Nairobi office in vain over money’ said another.

But a section of the area Police and the provincial administration have told off the MPs saying there mandate doesn’t extend to telling the legislatures who is to visit the county.

“They are with them in Nairobi, they can be going to to the said offices and look for the itineraries of anyone senior in the government who is to visit their constituencies, ours is coordination and security provision” said a senior police officer within the county who never wanted his identity revealed.

Later most of the MPs were seen physically going to leading hotels within Kisumu town with a view of “being lucky” to see any senior government officer who could have spent a night in Kisumu