HiPipo Money

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Capital Subsidiary Africa Railways lead investors in the Kenya and Uganda railways has completed a transaction that has seen it purchase a 34% equity stake in RVR from Safari Rail Company Limited, a wholly owned subsidiary of Nairobi-listed infrastructure company TransCentury  Limited,

The transaction, which was concluded yesterday, brings Africa Railways’ total ownership of RVR to 85%, up from 51%, following the acquisition of the entire equity stake held by TransCentury Limited (“TransCentury”), a Nairobi-listed infrastructure company.

In January 2014, TransCentury, announced its subsidiary Safari Rail Company Limited (“Safari Rail”), had exercised an option that would result in a change of its shareholding in KU Railways Holdings Limited (“KURH”), this triggered a 60 day deadline under which Citadel either had to either divest its majority shareholding to TransCentury or buy it out. Citadel chose the latter option. 

“We have been part of the RVR story for the past seven years and helped steer the company through some very challenging times, said Zephaniah Gitau Mbugua, the Chairperson of TransCentury Limited. RVR is vital to the economies of Kenya and Uganda and TransCentury remains fully in support of the Company. We wish Citadel Capital and the team at RVR all the best as they continue to see through the turnaround of the railway”.

Since 2010, Citadel Capital and TransCentury have led the replacement of hundreds of kilometers of decrepit track and completed the first phase of the rehabilitation of 500 kilometers of rail that links Kenya with Tororo in Eastern Uganda and Gulu in the north, ending two decades of disuse and inefficiency. The more efficient and dynamic railway is now backed by world-class technology and rehabilitated rolling stock as part of an ongoing reconditioning program. For the first time, the entire network is managed through a state-of-the-art GPS-based control room from the company’s headquarters in Nairobi; moreover, RVR is now moving into a phase that will see it purchase new locomotives, doubling its fleet size in the coming 12 months.

Commenting on the reasons why Citadel capital had and continues to invest in the Railway, Dr Ahmed Heikal the founding Chairman of Citadel Capital said “the citizens and business communities of  Kenya and Uganda have a right to a world-class national railway that serves as an engine of national development and regional integration, We are honored to continue working with our partners in Africa Railways on RVR’s turnaround story,” “RVR is one of the most exciting investments in our portfolio and our most significant investment in East Africa.

Talking about the role its fellow shareholders played in turning around the business so far Karim Sadek, Citadel Capital’s Managing Director for Transportation Investments said TransCentury and Bomi have worked closely with RVR management to help the company make good on its promise to both the governments and people of Kenya and Uganda,” said “Our partnership with TransCentury has been an important part of the progress RVR has made with its turnaround to date; we are open to working closely with the team at TransCentury going forward.” Africa Railways shareholders include leading global institutions including the IFC, African Latin American and Caribbean Fund, LP (ALAC), a private equity fund managed by the IFC Asset Management Company, LLC; Dutch development bank FMO; German development finance institution DEG; FISEA, a vehicle dedicated to investment in Sub-Saharan Africa owned by France’s AgenceFrançaise de Développement and managed by its subsidiary PROPARCO; and the International Finance Corporation (IFC). Heikal concluded: “RVR will continue to provide reliable,  cost-effective transportation solutions to East Africa’s emerging oil, gas and manufacturing industries, among the many other sectors driving growth in this dynamic region. We have so far only scraped the surface of what is possible.” TransCentury first invested in RVR in December 2006, acquiring a 20%  stake in the company and later increased its shareholding to 34% in May 2010. Citadel Capital first acquired a minority stake in RVR in 2010, eventually becoming lead shareholder via Africa Railways.

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British Airways is offering remarkable discount fares to mark its fourth flight per week which commenced today from Entebbe to London Heathrow Terminal 5.

The airline has offered discounted fares from Entebbe to London across its World traveller and World traveller Plus cabin classes where the cheapest ticket for World traveler will cost as low as $144 USD; and World traveller plus $344.

Announcing the development in a press statement today, Faith Chaitezvi British Airways Commercial Manager said, “British Airways is celebrating with all our customers during the launch of the increased flight services between Heathrow’s and Entebbe International Airports from three to four a week. We appreciate our customers’ loyalty and we endeavor to meet their demand as it grows. The booking period for the amazing fares was originally scheduled  between 26 March and 1 April, but because we feel that our customers deserve a world class service which is cost saving too, we have extended this period to 4th April for outbound travel from 26 March to 20th June or 1 September and 20 November 2014”.

British Airways is also maintaining it’s night time departures to improve connections at Terminal 5 to other international destinations including North America, where there is a choice of British Airways or American Airlines flights nearly every hour. 

Prices exclude all taxes and surcharges but may vary slightly on the day of purchase due to exchange rate fluctuations.

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South African Tourism (SAT) hosted their Africa Roadshow, in the form of trade workshops, on the 12^th March 2014 at Serena conference centre.

The purpose of the roadshow is to create a platform wherein the East African travel trade can engage with South African tourism products, establish new relationships as well as maintain the existing ones. The roadshow also serves a platform for the attendees to explore future business deals.

Owned by South African Tourism, the roadshowforms part of their approved 2013/14 business plan and annual marketing calendar. Statistics show that as of June 2013, 8,089 Ugandanshad travelled to South Africa, a 7% increase from the previous year and a factor that highlights the potential for future business growthbetween the two countries.

Various South African products were exhibited with the aim of creating an opportunity to sell relevant stock to the East African market. A minimum of 100 traders per trade workshop were in attendance, with topics ranging from visa processes/ requirements; evolution from traditional to digital e-marketing; to new plans on Africa attracting new trade partners were shared and discussed.

The roadshows started in West Africa, specifically Ghana and Nigeria; and will continue onto Angola and later include the East Africancountries of Uganda, Kenya and Tanzania. These trade roadshows are a great opportunity forthe Uganda travel trade to explore trade linkages with South African Tourism’s trade platforms, like INDABA,as well as to give Ugandans a chance to showcase their products to participating West Africa states.

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“Think of the Lounge as your office away from the office during INDABA” South African Tourism Chief Executive Officer, MrThulaniNzima.

INDABA IS THE single biggest and best opportunity on the African continent for everybody who does business with the African travel and tourism industry.

Based on international trade show best practice, INDABA will this year, for the first time, introduce an exciting new format by launching a new Premium Lounge. INDABA is set to migrate over the next few years from double-storey stands to a beautifully appointed studio configuration.

South African Tourism is directing additional efforts towards the top international travel trade buyers who have expressed or demonstrated their eagerness to make Africa an important and valuable component of their businesses. These influential travel trade buyers have direct responsibility of uncovering products from Africa. The purpose of the new Premium Lounge zone will be to fast-track the focus of INDABA back to deal-making, giving premium exhibitors an area perfectly equipped to accommodate their meetings with buyers.

“Think of the Premium Lounge as your office away from the office,” says South African Tourism Chief Executive Officer, MrThulaniNzima. “We’re locating the lounge in the heart of the International Convention Centre. It will comprise 52 professionally managed office studios that will come equipped with modern furnishings, access to plug points, uncapped high-speed Wi-Fi and regulated branding panels. All these will be designed to make it easy for buyers to find the space of the exhibitor they are scheduled to meet with.”

Exhibitors who make use of the Premium Lounge are guaranteed up to 15 meetings with quality, hosted buyers every day. Entry to this zone will be carefully managed to make sure that only people who (literally) mean business are granted access. Hostesses (one per four studio hubs) will be assigned to assist with refreshment requirements. Optimised, managed diaries will give Premium Lounge exhibitors maximum business value and face-to-face meeting time with the best hosted buyers.

Premium Lounge studios will only be available to exhibitors who have already taken up INDABA stands of at least 18 square metres, and therefore already meet the product exhibitor qualification criteria.

Applications for the 52 studios will be processed on a first-come-first-served basis. South African Tourism anticipates strong demand for the spaces. To manage this, the application will be available only for 72 hours after it goes live online today at midday (GMT+2).

The cost of a Premium Lounge studio is at a premium as benchmarked against global trade show studio rates. However, in the spirit of partnership, recognizing the transition of INDABA in 2014, and to illustrate tangible support of the trade, South African Tourism will be sponsoring the majority of this cost, for this year only. Premium Lounge exhibitors whose applications are successful will only have to pay the cost of R10,000 ex vat.

To apply for a Premium Lounge studio, go to www.indaba-southafrica.co.za and click on the ‘exhibitor’ tab to access the ‘Premium Lounge’ application form. Complete it, submit it, make payment and the space is yours – provided yours is one of the first 52 applications received, evaluated and verified. The website will give you all the info you need.

“It’s that simple,” MrNzima says, “and it’s that easy to secure a beautiful, professionally-equipped space for your INDABA meetings.”

South African Tourism and the Indaba team have reaffirmed their commitment to the trade, to craft a revamped groundbreaking travel trade show for Africa. Indaba seeks to showcase best-in-class travel products throughout Africa that optimise the finest experiences that our beautiful continent can deliver, to captivate discerning international buyers. All African exhibitors and international buyer delegates come to INDABA each year to meet, close deals, network, strengthen relationships and plan future business. South African Tourismis dedicated to creating the best possible sales and marketing environment that results in short-term and long-term business to African suppliers.

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South Africa’s Minister of Tourism, Marthinus van Schalkwyk, today launched ‘Madiba Inspired Tourist Attractions’, a travel map that encourages tourists from around the world to come to South Africa to walk in former President Nelson Mandela’s footsteps.

“The passing of South Africa’s first democratically elected president, Nelson Mandela, in December 2013 sparked a global outpouring of grief. The world paused as we collectively reflected on the life of this phenomenal man, and celebrated what he had achieved, not only for South Africa but for mankind. Most of the places associated with his life’s journey teemed with visitors who dedicated private notes and flowers as tokens of respect and remembrance, as South Africans and indeed the world, tried to come to terms with the loss of the founding father of the nation,” said Minister Marthinus van Schalkwyk.

He was speaking today at an event at the Drakenstein Correctional Centre (formerly Victor Verster Prison) in Cape Town, the last place that Nelson Mandela was held captive before he took his first steps to freedom on 11 February 1990.

“To make it as easy as possible for people to personally experience Mandela’s story, we have developed the ‘Madiba Inspired Tourist Attractions’ map, that encapsulates the key points of his life’s journey,” Van Schalkwyk said.

Developed by South African Tourism in partnership with the Nelson Mandela Centre of Memory, the map highlights tourist sites as well as general places of interest in the four main provinces that defined Mandela’s life. These include: the Eastern Cape, where he was born, grew up and attended Fort Hare University; Gauteng, where he worked as a human rights lawyer and became instrumental in South Africa’s political struggle; KwaZulu-Natal, where he was captured and the Western Cape, where he was imprisoned and ultimately freed.

Since Mandela’s release from prison in February 1990, a number of world-class museums, monuments and precincts have been developed to bring his story to life and to cater for the demand to better understand South Africa’s history. 

The Madiba Inspired Tourist Attractions map includes well-known attractions such as UNESCO World Heritage Site, Robben Island, where Mandela was imprisoned and Mandela’s house on Vilakazi Street in Soweto, the only street in the world to have had two Nobel Peace Prize winners as residents, Nelson Mandela and Desmond Tutu. It also features some of the lesser known attractions such as the Kliptown Open-Air Museum, also in Soweto, which marks the spot where the Freedom Charter was adopted by the Congress of the People. The Nelson Mandela Youth and Heritage Centre in Mandela’s childhood home, Qunu, where he was buried is also featured in the map. Background information, contact details and approximate cover charge information for the various attractions and places of interest are also included.  

“Mandela’s integrity, spirit of hope, reconciliation and love have touched the lives of millions of people. This year we celebrate 20 years of democracy and freedom and we look forward to welcoming many tourists from around the world to share our story and Mandela’s legacy with us. Not only was Nelson Mandela an incredible man and leader, but he is a truly global icon and his name alone put South Africa on the map. Since 1994 visitors from all corners in the globe have come to South Africa to seek out the places that shaped his remarkable life.”

In 1993, the year before Nelson Mandela became South Africa’s first democratically elected president, South Africa had 3.4. million international arrivals. In 2012 South Africa welcomed 13.5 million people to the country, of which close to 9.2 million were tourists (people who spent one or more nights in South Africa).

“The numbers aside though, what has perhaps been our greatest inheritance for tourism is that Mandela has ignited people from all corners of the globe to come and experience South Africa for themselves. It is thanks to his vision and principles that our tourism industry has grown as much as it has since our first democratic elections 20 years ago when he was elected President of South Africa,” adds van Schalkwyk.

“It is also thanks to him that the world now knows South Africa for more than just our incredible wildlife, amazing scenic beauty and excellent value for money. Since 1994 the world has come to realise that what really sets this country apart is Mandela’s people  whose warmth and hospitality leave all who visit touched by Madiba Magic,” the Minister concluded.   

The “Madiba Inspired Tourist Attractions” map has been made available to trade partners in South Africa and around the world to make it as easy as possible to packaging Madiba-inspired itineraries. The map is also available online at www.southafrica.net

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MTN Uganda hosted the third edition of the MTN Monthly Golf Challenge at Kampala Golf Club.

Last month Mukasa Eli turned out the overall winner with a score of 79 points ahead of Jadur Patel who was second runner up. Aggie Konde won the women’s category with a score of 63nett with Ntege Monica following suit with 68 nett in second place.

This month Charles Kareba who also won in Men’s Group B has emerged the overall winner with a clear 68 nett closely followed by Batanda who garnered 70 Net, also emerging as winner in Group C.

Playing in Ladies GoupA, Mbaguta Gloria took the winning cup with 68 Net followed in second place by Kabenge Katy with 69nett.

Kabuye Gerald came first in Men’s Group A with 73 nett followed by MatataOnyango with 74 nett.

General Ivan Koreta came second in Group B with 68 Net that was also led by Charles Kareba.

Men’s Group C was won by David Batandawhile Simba M came in second place with 72 nett.

Men’s Group D   saw Roh DC come first with 71 nett followed by Simba M with 72 nett.

The whole day golfing event at the Kampala Kitante Golf Course attracted high participation from regular Kampala Club Golf member as well as representatives from corporate companies. For the last five years, MTN Uganda has maintained an annual support of 10 monthly mugs, one Mid-Year Mug and a final Mug of Mugs that happens in December.

MTN Uganda’s Account Manager Business Sam Musoke Kasoma who handed out some of the mugs to winners said MTN Uganda’s association with the game of golf is a demonstration of the Company’s commitment for the growth of sports in the country.

“MTN Uganda has consistently supported the sporting fraternity in Uganda and aside from golf; it has sponsored many sports activities over the years including Football, Rugby, Basketball, Volleyball, Table tennis and Golf amongst others. MTN has also continued to invest in supporting sports in Uganda through the MTN Arena in Lugogo, which was refurbished by MTN in 2010 to be the largest and most modern indoor stadium in Uganda.”