The Exchange - East Africa's Source for Financial News The Exchange MAY 2017 - FINAL (1) | Page 13

MAY 2017
By Maureen Murori
S
tudents in Aerospace and Aviation
Engineering fields in Kenya and
East Africa at large can now afford
hands-on training in high tech aviation
devices, thanks to a generous donation by
Kenya Airways, GE, and Boeing.
Following the joint donation initiative,
the Technical University of Kenya (TUK),
received a CF6-80A2 engine manufactured
by General Electric (GE) along with used
aircraft parts, aviation maintenance
training books, reading materials, aircraft
manuals, and training aids.
The new development aims to enable
capacity-building in aviation training
schools in the region.
Speaking during the handover ceremony
at TUK, regional sales director for GE
Aviation in Africa Dr. Rajiv Bissessur
noted that the need for skilled aviation
professionals in the region was on the rise
as the industry continued to grow.
“The donated CF6 engine will enable
aeronautical engineering students to
experience hands-on learning with one
of the most popular wide-body aircraft
engines in service today, and increase the
pool of talented aviation experts that will
be needed to service the airlines in Africa
and around the world.”
Kenya
Airways
Strategy
and
Performance
Management
Director
Thomas Omondi said:“Our donation today
further strengthens our commitment
to ensure a stronger foundation of
aeronautical knowledge, skills and more
experience to aviation technicians and
engineers even as they prepare for the
job market. We are extremely happy to
support the next generation of aircraft
maintenance engineers”.
KENYA
TUK Advances Aviation Training
Training grounds for regional aviation
technicians, and engineers
With awell-established and well-equipped
engineering program, TUK could play host
to many who wish to venture or advance
their training in aerospace and aviation.
Air Tanzania Company Limited (ATCL)
has laid out a plan to send pilots and
aircraft engineers for training at the
Ethiopian Airline aviation school in Addis
Ababa.
According to ATCL, sending its staff to
train in Ethiopia will save the company
up to $500 per hour, when compared to the
cost of the same training in Canada and
the United Kingdom.
While there has a been a preliminary
agreement on the training between ATCL
and its counterpart in Ethiopia, ATCL
Managing Director Ladislaus Matindi said
they are now waiting for approval from the
Tanzania Civil Aviation Authority before
sending staff. “It is a requirement for the
aviation services regulator to certify the
training institutes for our experts.”
He added that Ethiopian Airlines has
well-equipped training and maintenance
facilities that will provide the expertise
needed.
According to Mr. Matindi, the training
will be for new pilots and continuing
programs for those already in service.
However, he added that the airline would
continue to send some pilots to Canada
for training on operation of the new
Bombardier aircraft due for delivery
before July this year.
A CF6-80A2 engine manufactured by
General Electric (GE) donated by Kenya
Airways, GE and Boeing to the Aerospace
and Aviation Engineering programme at
Technical University of Kenya (TUK). Photo
Courtesy of TUK
Continuous
collaborations
between
institutions of higher learning and
airlines will not only give students cheaper
training options but also build capacity of
local and regional pilots, technicians and
engineers even as the industry continues
to expand.
Appreciating the kind gesture, Vice
Chancellor Technical University of Kenya
Prof. Francis Aduol hailed the partnership
saying it will provide the practical and
research skills needed by technicians
and engineering students, consequently
increase the university’s competitiveness.
Real Estate Investment Confidence
E
ast Africa has had a shake-down
in confidence with real estate
investments. This has come
against a backdrop of the scams that have
hit the Kenyan market with integrity
issues being the main cause. The middle
income bracket of investors have suffered
the most as they have been the target of
unscrupulous real estate firms. This has
led to a wave of fear as those wronged have
been unable to get resolutions that will
restore their financial losses or recover
their investments. The process to get
redemption is long, tedious and expensive
for them to question whether to invest in
the time and expense to pursue on their
lost investment.
This loss of confidence in the real estate
industry is a cause for alarm for industry
players and the relevant government
oversight bodies and needs to be dealt with
swiftly and with finality. Noting that the
middle income bracket of investors have
been on the forefront of the economic drive
of the region’s economy their confidence
to continue investing is of utmost value.
Before the doctrine of sharing can see the
light of day to ensure wealth growth, the
bedrock it needs to lie on --confidence on
the risk and the security of investments –
must be reinforced.
Most of my clients have been seeking
assurance on how safe their investments
in real estate are. I have assured them that
there is no cause for alarm as the industry
still offers the best investment alternative.
This is based on both returns and risks
as well as potential to fairly grow wealth.
Let me cut it right through to the core and
explain both sides as they equally share
the pains of loss of confidence.
First, the scams have hit the industry at a
time when Kenya,the key economic pillar
of the East African region is at the height of
its electoral process with elections months
away therefore compounding financial
flow issues. The effect is that there is a
13.
slowdown of the investment levels and a
strained financial flow as investors are
holding back. Most international investors
are working with trickle drop cash flows;
the redemption that would bridge this gap
is the middle income investments as it
has become a substantial resource in the
recent times.
The real estate industry has been thriving
on the middle income investors as they
have create