Business highlights – August 17 2017 – HF Foundation programme to improve skills in construction sector

Business highlights – August 17 2017 – HF Foundation programme to improve skills in construction sector

HF Foundation programme to improve skills in construction sector:

In a bid to improve the quality of technical skills in the construction industry, the HF Foundation hosted a mentorship forum for 60 artisans as part of the “Army of 1 million artisans” programme.

The programme, which is a partnership with the German Corporation for International Development (GIZ), supports trainees in selected institutions to gain hands-on training in occupations related to the construction sector and facilitates practical internship opportunities.

HF Foundation Board Member Ms. Caroline Armstrong said that the upgrading of technical skills and enhancement of a robust curriculum for technical courses would help bridge the widening technical skills gap in Kenya.

“The programme will ensure competency based education and training which is demand driven and also promotes enterprise culture so as to offer a wide range of employment opportunities to the youth,” said Ms. Armstrong.

Co-op posts marginal dip in net profit:

Co-operative Bank of Kenya has announced a dip in their pre-tax profits from for the first six months of 2017 from Ksh 10.4 billion in the same period last year to Ksh9.3 billion this year.

The lender has however termed the profit as commendable considering the tough operating environment especially with the election jitters and the rate capping law.

Profit after tax for the period was Ksh 6.6 billion compared to Ksh 7.4 billion the previous year.

The Group said it has put in place strategies intended at sustaining long-term profitability, with current challenges in the operating environment being mitigated by the benefits arising from the successful execution of the ‘Soaring Eagle’ Transformation project.

Direct pay online acquires Virtual Card Services:

Direct Pay Online Group (DPO) has finalized its acquisition of Virtual Card Services (VCS) South Africa. This follows the acquisition of VCS Namibia and VCS Botswana.

The new acquisition shores up DPO’s leading position in Southern Africa following its previous acquisitions of PayThru and PayGate.

VCS has over 20 years of experience in developing and implementing credit, debit and smart card processing systems for major card issuers in South Africa.

DPO is now planning to merge both VCS SA and PayThru, which it acquired last month, with PayGate, to create the leading Payments Service Provider in South Africa.


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