The Financial Times newspaper notes that peace in Sudan could mean that the massive humanitarian operations that have sustained Lokichoggio for almost 20 years will move on to Rumbek, Sudan.

Compe for KQ
From November, KLM Royal Dutch Airline will start direct flights from Entebbe to Amsterdam – a decision that was prompted by Uganda’s booming economy, stability, and growing demand for passenger services.

Debt relief
The municipal council of Nakuru has announced a debt waiver of all interest and penalties for a period of one month ending November 25th for defaulters to pay their outstanding rates. Also, the Nairobi city council has extended a similar waiver on its controversial land rates provided that those who have taken the council to court, also settle court charges incurred by the council.

Uchumi Loss
Uchumi announced a 1.22 billion shilling loss for the year (ended June 30 2005) which was almost twice as bad as the 699 million loss in 2004. Net sales reduced from 9 billion to 5.2b, but the company was able to reduce both its cost of sales, from 6.8b to 4.4b and operating costs from 2 to 1.8b. The company will use the 1.2 billion shillings raised from the recent rights issue to improve stocks, refurbish stores and carry out marketing activities.

New cement factory
East African Portland Cement Company has announced plans to build an $11 million factory without raising money from the capital markets. This same strategy of expanding while using financing from business proceeds is one of the factors that contributed to the problems at Uchumi.

Jobs

Audit & risk advisory services manager: At KPMG International who will provide corporate finance and transaction advisory services to corporate clients in the Eastern Africa region and will administer and manage a diverse portfolio of clients, billing and collecting from them for assignments and projects undertaken. – The actual position will be consumer & industrial markets manager within the audit and risk advisory service department. Applicants should be college graduates (w/honours) with an accepted professional qualification (CPA, ACCA, CPA), 4 years audit or related experience, knowledge of accounting standards, IFRS, business factors and sector development, and who have excellent communication, team and IT skills. Apply by Nov 8 to the human resource manager at esd@kpmg.co.ke

Chief internal auditor Ref .CIA 10/05: At the New Kenya Co-operative Creameries – who will ensure that organizations operations are in compliance with company rules and regulations, produce timely internal audit reports, liaise with external auditors and review bus process to ensure efficiency and effectiveness. Applicants should be university graduates who are also fully qualified accountants – CPA (K) or equivalent, and have held similar positions for 3 years, preferably in a manufacturing organization. They should also have excellent IT, operational, people communication, audit and planning skills. Apply to the human resource manger, New KCC, P O Box 30131-00100 Nairobi by November 10.

Commercial project manager: finance & business administration: At Siemens ltd who will be in charge of project administration (defining processes, local & foreign purchasing and supervision of suppliers & subcontractors), accounting, reporting (deal with banking, accounting & taxation) as well as controlling and logistics management matters. Applicants should have an MBA, business administration experience, an entrepreneurial flair and 3 – 5 years experience in project management with an international company. Apply to the human resource manager, Siemens Ltd, P O Box 50861-00200 Nairobi by November 9.

Accountants: At the KEMRI/CGMRC Welcome Trust research programme who will prepare accounting and financial management information to control programme expenditure at Kilifi, Mombasa. Applicants should have a business degree, at least CPA part II, preferably with some experience in government or NGO accounting and familiarity with PASTEL software. Email applications by November 10 to ssolomon@kilifi.mimicom.net for interviews in late November.

Audit managers: Chege Muchunguzi Mwangi & Company, Certified Public Accountants are seeking to hire an (i) audit manager and (ii) assistant audit manager. Applicants must be university graduates (accounts/finance) with CPA or ACCA and at least 5 years hands on experience. They must also be proficient in IAS and IFRS and be over 30 years old. E-mail applications to cezam@czmkenya.com by November 7.

Training opportunity

A three-month course in investment banking will be offered by Dyer & Blair Investment Bank – beginning on November 7th at their offices with classes running from 5:30 to 8:30 PM. Students will learn investment banking, securities valuation, macroeconomic analysis, financial accounting, marketing, sales & customer care in securities industry, and forecasting of interest rates.

Those wishing to enroll should have bachelor’s degrees or professional qualifications (e.g. CFA/ CPA/CPS/AKIB/ACIB), and have a keen interest in financial markets. They should send in their application letters, with CV’s, to training@dyerandblair.com by October 29th – and only those shortlisted via a first come, first served and merit basis will be contacted. Costs are Kshs. 100,000 ($1,370) per trainee and successful students may be considered for employment by Dyer & Blair after the course.