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Equity Bank’s James Mwangi named Africa’s 2015 CEO of the year

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Equity Bank boss James Mwangi has been named as the 2015 Africa investor CEO of the Year at the annual business Summit in New York.

The award, announced at the 8th Annual Africa Investor (Ai) CEO Investment Summit recently held in New York is another recognition of Mwangi’s corporate leadership skills and commitment to advance an entrepreneurial agenda for poverty eradication in Africa.

Mwangi beat a strong field of shortlisted Africa business leaders including Safaricom CEO Bob Collymore, Egypt’s Commercial International Bank Chairman and Managing Director Hisham Ezz Al-Arab, Yinka Sanni, CEO Stanbic IBTC Bank, Kenya Commercial Bank CEO Joshua Oigara, Albert Essien, CEO Ecobank, Alan Clark, CEO SABMiller and Mohamed Benchaâboun, CEO Banque Centrale Populaire.

Launched in 2007, and linked to the Africa investor (Ai) Index Series, the Ai Institutional Investment and Capital Market Awards are based around the Ai Index Series and are the only pan-African Awards designed to recognise Africa’s best performing stock exchanges, listed companies, investment banks, research teams, regulators, socially responsible companies and sovereign wealth and pension fund investors. It is a uniquely African capital markets event.

Commenting on the Awards winners, Hubert Danso, CEO and Vice Chairman of Africa investor, said, “Africa investor has long seen the need for a respected platform to provide recognition to Africa’s best and most innovative capital market leaders and institutional investors. We are delighted to be able to say that this year’s winners are our most exciting yet, and are testament to the ever-improving investment climate in Africa.”

Africa investor’s Ai40 Investors’ indices capture the top 40 largest and most liquid publicly-traded stocks across Africa, ranking them by market capitalization and by liquidity, as measured by the average daily value traded in US dollars.

The Ai CEO Investment Summit, held in association with the IFC and the World Bank Group Trade and Competitiveness Global Practice, is an annual CEO business forum designed to facilitate action, to highlight and address project-specific investment climate challenges and to shed light on Africa’s investment success stories.

During the Summit, Africa investor (Ai) hosts the Investment and Business Leader Awards to recognize the achievements of investors, business leaders and institutions improving Africa’s investment climate. The awards are linked to the Africa investor (Ai) Index Series and are the only pan-African Awards designed to recognize Africa’s best performing stock exchanges, listed companies, investment banks, research teams, regulators, socially responsible companies and sovereign wealth and pension fund investors.

Other recognitions during the Awards ceremony included: Most Innovative Capital Markets Regulator awarded to The Capital Markets Authority of Kenya, Most Innovative African Stock Exchange Award, awarded to the Stock Exchange of Mauritius, Best African Investment Bank went to FBN Capital amongst others.

This year’s CEO Investment Summit and Business Leader Awards brought together over 250 of Africa’s most prominent and influential business, government and development finance leaders as well as five African Heads of State.

Common Peugeot problems and solutions

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Peugeot 307 1.6i intermittent starting fault?
Sometimes starts first time, on other occasions all I get is a click, seems to be after a run or whilst the weather is hot?
From the symptoms you describe it would indicate a starter motor fault as the clicking noise is the solenoid engaging

Peugeot 407 Starting/Cutting Out Fault?
Modified TDC sensor and pulley replacement parts available.

FAULT: Turbo failure VEHICLE MAKES: Citroen, Peugeot and Ford (these are the most commonly affected makes, although other makes may also be subject to this fault).
Peugeots affected include:
Peugeot 206 (2004 onwards)
Peugeot 206 cc (2005 onwards)
Peugeot 307 (2004 onwards)
Peugeot 407 (2004 onwards)
Peugeot Partner van (2004 onwards )
ENGINE: 1.6 HDi Turbo

CAUSE OF FAULT:
It is believed that the turbo failure is as a result of the oil and filter renewal intervals being too far apart.

RECTIFYING THE FAULT & RECOMMENDATIONS:
As well as the turbo being renewed it is recommended that the oil feed and return pipes are renewed. It is recommended the oil pick up strainer in the sump is renewed also.

POSSIBLE PREVENTION:
We would recommend the oil and filter to be changed every 6,000 miles (or at least annually) regardless of the age of the vehicle and this should be carried out before and after turbo failure – you should also maintain the manufacturer’s recommended service intervals. Renewing the oil and filter in between services will not invalidate the manufacturer’s warranty on a vehicle 3 years old or less. An oil and filter change is inexpensive and could save you from a costly, inconvenient repair to renew the turbo.

2.0 Hdi Starting Fault?
Engine not turning over or turning over slowly: usually faulty starter motor rather than battery.

Peugeot 207 1.6HDi sport 90 bhp 2007.  It has started to ping an alarm and readout  ‘brake failure – stop’.
If I switch the engine off and re-start this message disappears. However, it comes back every so often?

Do not drive!  Possible ABS or brake fluid level fault.

Seized Diesel Injectors
We are encountering vehicles with faulty diesel injectors more and more.
Increasingly, we are finding that dealers and independent repairers are unable to remove the seized injectors resulting in massive unnecessary repair costs and the inconvenience of the vehicle being off the road for several days.

We have therefore taken action and invested in bespoke equipment to remove them quickly and easily at a fraction of the cost and elimating the need for head removal or engine renewal and we are proud to announce that we are the only garage in the South East to have this equipment.

Peugeot 206 automatic: once a day my snow and ice lights appear in my gear show dial. 
I have to stop turn all off and start engine again to clear, not good when you are in fast lane of M25!
This indicates a fault with the automatic gearbox and the vehicle should not be driven.

Peugeot 307 hdi: headlights come on when indicating?
Possible switch or BSI fault.

Peugeot 307 1.6 2005: clutch screams when depressed and vibrates through clutch pedal. Is this the thrust bearing?
If you depress the pedal to the biting point with the car in neutral and take the clutch pedal an inch below and then an inch above biting point and the noise is present then there is a fault within the clutch.  If, however, the noise comes and go then the fault is within the gearbox.

Automatic Gearbox Fault
Affecting all Peugeot models with AL4 gearbox

Modified electro valve required which will also need re-programming (which we can do). DO NOT LEAVE THIS FAULT as it can cause further problems.

ABS Fault Peugeot 307?
Rear wheel sensors air gap corrosion. Clean and refit usually remedies fault.

Peugeot 206cc roof goes down but won’t come back up? Diagnostic test and possible re-synchronization of roof using manufacturer’s equipment.

207/208cc Convertible Roof Fault
Sometimes the roof may fail to fully open or close fully, especially if it has not been used for a while or if the car battery is not in tip top condition.  This is not necessarily a big job to rectify.  The roof will need to be pulled manually from the closed to open position and the fault cleared from the memory.  This will in most cases remedy the fault as the roof re-calibrates its movements from closed to open.

Peugeot 407 2ltr diesel saloon 2005:  Knocking in steering when turning wheel 90 degrees at very low speeds, ie turning into drive, parking space?
If it is a single knock then it may be a lower swivel which should be checked ASAP. A lighter tap, as opposed to a knock, would indicate an anti-roll bar drop link although this usually can be heard when driving in a straight line over light bumps.  If the noise speeds up with the vehicle on full lock (rhythmic) then this would point to a constant velocity (cv) joint (driveshaft).

Diesel Injection Fault Light
The diesel injection fault light indicates a fault with the high pressure system, ie pressure regulator or injectors.  However, before getting involved with diagnostic tests check the basics first.  Try renewing the fuel filter first before proceeding any further.

Note: Ensure that the fuel filter is regularly changed to prevent this fault.

Peugeot 3008 (2010 plate) 1.6 HDI engine and EGC box:  turbo common fault. 
Tips on preventative measures following replacement of the turbo? The key to avoiding future turbo related problems is frequent oil changes.  I would recommend an engine oil flush and oil change a couple of times in succession to begin with.  After that, I would strongly advise changing the engine oil every 6000 miles or 6 months whichever comes soonest.

2015 Toyota Corolla review

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Toyota’s current 2015 Corolla is isn’t all-out charming, but it’s engaging and interesting in a way the previous-generation Corolla missed.

The Corolla, for decades, has epitomized basic, trouble-free, and relatively comfortable transportation. That ‘no frills’ reputation changed a bit a couple of years ago, when Toyota added some more technology and flair to the Corolla, arguably breaking free of biases that have long pegged it as the blandest of the compact-sedan bunch.

With that redesign, Toyota showed, at last, that the Corolla can be more than a penny-pinching, trouble-free economy sedan. Although the Corolla has been one of the best-selling small sedans in the U.S. market — for decades — the automaker really stepped up its game with the current 2015 Corolla, bringing in the sharper, sportier looks, the quieter cabin, and the in-car technology that today’s small-car shoppers expect.

And what it’s ended up with, in this 2015 Toyota Corolla, is a vehicle that’s more than just thoroughly competent, but actually delightful at times — a model you might choose for reasons other than the bottom line and watching your dollars. Yet one thing the Corolla doesn’t stray away from is its low pricing and high value.

The 2015 Corolla doesn’t blow past any boundaries for what a Corolla should be; but it does shed some of its conservative, bare-bones appearance in favor of something more vivid and aesthetically appealing. The Corolla’s new look is described by the automaker as more athletic, and we won’t argue with that. The core design concept, of ‘Iconic Dynamism,’ might be a little tougher to make sense of, as we see bits and pieces of various other current compact-car models in the overarching design as well as styling details — too many to call it iconic.

The proportions of the 2015 Corolla are what make its design so successful. About three inches longer than the pre-2014 model, the current Corolla offers a longer wheelbase, with the wheels farther out near the corners of the car — elements that together give more visual appeal, with a sportier stance, plus more interior space. Some great details, like LED headlamps and running lamps, finish off the design.

The sporty Corolla S models stand distinct from the rest; they get a blacked-out grille in front with fog lamps flanking a more aggressive airdam; the look of the S is further sharpened by an integrated rear spoiler that visually lifts the tail.

Performance

Performance has almost never been a strength for the Corolla lineup; it’s no surprise that for the shoppers that Toyota aims for with this sedan—those who want low running costs and value for the money—that performance falls after things like interior comforts and safety features. Yet if you choose the right model in the lineup, the 2015 Toyota Corolla is definitely a little more inspired than this model has felt in the past.

The 2015 Toyota Corolla lineup continues to offer two different 1.8-liter four-cylinder engines; and rest assured that with either version, you’ll get approximately the same level of performance and fuel efficiency. L, LE, and S trim Corolla models are powered by a base 1.8-liter four-cylinder engine rated at 132 horsepower and 128 pound-feet of torque.

The LE Eco trim, with its 1.8-liter four-cylinder engine, has Valvematic, which has a broader range of continuously variable valve timing, for better fuel economy as well as a boost in engine output, to 140-horsepower. Valvematic allows valves to ‘float’ when coasting and reduce drag when light on the throttle at higher speeds. At the same time, the system widens the torque curve—although peak torque is actually 2 lb-ft lower, at 126 lb-ft, so despite the higher horsepower don’t expect this model to feel noticeably quicker.

In most Corolla models (LE, S, and LE Eco), there’s a continuously variable transmission (CVT); with it, Toyota has managed to tune in a reassuring, almost linear feel during light and moderate acceleration, while minimizing the ‘drone’ that plagues CVTs used in other small cars. S models get a special version of the CVT that pretends it’s an automatic, with seven simulated gear ratios and steering-wheel paddle-shifters to click through them (and a nice leather-trimmed steering wheel).

Models with the CVT have much-improved highway passing response, and they feel perkier at speed in general compared to the automatic they replace (Toyota says it’s knocked nearly a second off the 0-60 mph time of the four-speed automatic). But they’re no improvement in standing-start performance, where this combination feels lackluster—especially when pointed slightly uphill or loaded with passengers—due to a rather tall starting ratio.

Those who want a manual gearbox aren’t left out either; both the base L and the sporty Corolla S model are offered with a six-speed manual (that’s one ratio more than last year). The throws are a little long and the linkage isn’t sport-sedan precise, but the clutch takeup is light and neat—making it easier than most to drive in stop-and-go traffic. And that base L is the only one that’s still saddled with an old-tech four-speed automatic transmission. It’s not bad, either—just a bit slow when you need a quick burst of passing power, because of the wide steps between its ratios.

The Corolla S (perhaps at odds with its own mission) is the model you should move toward if you enjoy driving; it gets a suspension tune that’s buttoned-down in the way you might normally expect of a sport sedan—with a special Sport button that firms up the steering, and a ride that feels firm yet absorbent and nicely damped. All models get a revised torsion-beam rear suspension that mounts bushings at a slanted position, improving both NVH and rear-end behavior near the handling limit—and S models make the most of that.

Other models in the lineup remain a bit springy and pillowy, with a ride that’s not only a little softer but also a bit busier (counterintuitively) than that of the S on jittery backroads.

Economy

Although there’s no such thing as a hybrid model in the 2015 Toyota Corolla model line, this frugal sedan has the high mileage and low running costs that those considering the Corolla are probably going to expect.

That said, some are going to expect some higher numbers, and for them the Toyota Prius lineup might be a better pick—or, potentially, the Toyota Camry Hybrid.

The LE Eco model is the one for the most mileage-conscious; it adds an Eco Drive Mode button that brings further changes to shift points, throttle response, and accessory operation.

That fuel-economy special of the lineup is the LE Eco. But if those numbers are the top priority, don’t load it up with options; if you get either the Plus or Premium packages, you’ll upgrade to 16-inch alloy wheels (rather than the 15-inch steel wheels), and that’ll knock the 42-mpg highway estimate down to 40 mpg.

Additional notes

The 2015 Toyota Corolla lineup continues to offer two different 1.8-liter four-cylinder engines; and rest assured that with either version, you’ll get approximately the same level of performance and fuel efficiency. L, LE, and S trim Corolla models are powered by a base 1.8-liter four-cylinder engine rated at 132 horsepower and 128 pound-feet of torque. The LE Eco trim, with its 1.8-liter four-cylinder engine, has Valvematic, which has a broader range of continuously variable valve timing, for better fuel economy as well as a boost in engine output, to 140-horsepower. In most Corolla models (LE, S, and LE Eco), there’s a continuously variable transmission (CVT); with it, Toyota has managed to tune in a reassuring, almost linear feel during light and moderate acceleration, while minimizing the ‘drone’ that plagues CVTs used in other small cars. S models get a special version of the CVT that pretends it’s an automatic, with seven simulated gear ratios and steering-wheel paddle-shifters to click through them. The Corolla S (perhaps at odds with its own mission) is the model you should move toward if you enjoy driving; it gets a suspension tune that’s buttoned-down in the way you might normally expect of a sport sedan—with a special Sport button that firms up the steering, and a ride that feels firm yet absorbent and nicely damped. Other models in the lineup remain a bit springy and pillowy.

The Corolla might have been considered mid-size just a few model years ago. With its redesign last year, the Corolla gained nearly four inches in wheelbase, and that almost directly translates to some meaningful increases in back-seat space. Even those six feet tall can now ride behind other six-footers—an almost unhead-of feat among small cars. There were improvements in front-seat comfort, too, with more adjustability and longer cushions than before, or than what you’ll find in some rival models. Trunk space is abundant, too, with a long, flat floor, plus flip-forward rear seatbacks in all models.

Overall, the look and feel of the Corolla’s cabin is more conservative than the contemporary exterior might suggest. Although last year’s redesign brought upscale materials and a two-tier dash design that really helps maximize the sense of space in front, the impression is that the Corolla is aiming less for a sporty compact-car feel and more for a cabin that almost rivals mid-size interiors. A soft-touch material now covers the dash; S models have leather-like Softex bolsters and coarse, contrast-toned seat upholstery, while pinstriped accents are strewn about the cabin on the dashboard and door panels.

The 2015 Toyota Corolla offers an impressive safety set, as well as some (mostly) good crash-test ratings; although it’s missing some of the advanced active-safety technology that’s fast becoming the norm for this class of vehicle. It includes eight standard airbags along with Toyota’s Star Safety system, which includes vehicle stability control, traction control, anti-lock braking system, electronic brake-force distribution, and brake assist.

Across the lineup, Toyota now offers infotainment systems that aren’t just competitive, but among the better systems in this class of affordable car when you consider their interfaces, ease of use, connectivity, and sound. Toyota’s latest Entune system, featuring navigation and apps in some models, lift the automaker’s inexpensive-car cabins out of the dark ages, and they’re widely available in the lineup.

That lineup remains comprised of four 2015 Toyota Corolla trim levels: L, LE, S, and a new LE Eco model. The base L model features standard LED low-beam headlights with LED daytime running lights, in-glass AM/FM antenna, color-keyed outside door handles, color-keyed outside mirrors, 60/40 split fold-down rear seat, power locks, doors, and mirrors, along with air conditioning, Bluetooth, and eight airbags. Equipment on all LE, S, and LE Eco Premium models now for 2015 includes the same so-called Driver Convenience Package, with a moonroof, Smart Key entry, Navigation, Entune Premium Audio, and the App Suite.

Used Toyota Prius 2004-2009 review

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If any car can be called a game changer, it’s certainly the Prius. When we had a look at the Prius hybrid technology, our first thought was “How has nobody thought of that before?” The technology is simple, yet brilliant. The small transmission unit has just a few gears and two small electric motors. However, not only does it take care of gear ratio changing, but it also re-generates electricity and smoothly combines the power of a gasoline engine and electric motor. Thanks to this technology, the Prius is one of the most fuel efficient cars for the last 15 years. It’s also the best-selling hybrid, and is widely available on the used car market. Is the Prius dependable in the long run? How reliable is the hybrid technology? How expensive are the maintenance and repairs? We will try to answer all these questions in this review.

Toyota Prius 2004 interior

Toyota Prius 2004 interior.
Toyota Prius 2004 interior

Toyota Prius 2004 interior.
Toyota Prius 2005 engine

Toyota Prius 2005 engine. Photo: Toyota.

Powertrain: The Prius’s 1.5L gasoline engine is very similar to that of Toyota Yaris, but is modified for hybrid powertrain. The hybrid “transmission” unit contains two electric motors that can work as generators. One electric motor controls the gear ratio and recharges the hybrid battery. The second motor propels the vehicle at low speeds and supplies additional power on acceleration. The second motor is also used to recover energy when braking or coasting. Scroll down to the ‘Resources’ section for more detailed info. The hybrid battery is placed under the trunk floor, see the photo below.

Fuel Economy: The EPA rates the 2004-2009 Prius at 48 MPG city, 45 MPG highway and 46 MPG combined. It’s actually not that difficult to get these numbers in real world conditions. In fact, the best fuel economy we were able to get out of this 2004 Prius is 54.6 MPG combined (4.3 L/100km). On a one-day road trip we easily got 469 miles (755 km) on a 11.9-gallon tank (45 liters). According to the EPA estimate, if you drive 15,000 miles per year, you will spend only around $1,100 on fuel for the whole year. For comparison, the annual estimated fuel cost for the 2008 V6 Ford Escape is $2,350.

Timing belt or chain: The 2004-2009 Prius engine has a maintenace-free timing chain, there is no timing belt.

Handling and ride: The Prius handles well but not sporty. The ride is soft and fairly quiet. Thanks to the torquey electric motor, the Prius is actually quick off the line. You will also appreciate the small turning radius and good all-around visibility.

Toyota Prius energy monitor

Toyota Prius energy monitor.

How the hybrid powertrain works: When you start moving slowly, the car drives on the electric power alone. As you accelerate past 15-20 mph, the gasoline engine kicks in. All this happens very smooth, you just hear the engine start running. When you stop at the red light, the engine shuts off. As you step on the gas, it kicks in again. At first, all this seems a bit weird, but after driving for a few days you don’t even notice it. When you coast or lightly apply brakes, the transmission unit re-generates the energy to charge up the hybrid battery. You can see the power flow on the center display.
Driving the Prius in cold seasons: First, the bad news: the low clearance makes it difficult to drive the Prius in deep snow. The fuel economy suffers too: gas mileage drops to 38-39 MPG combined. Now, the good news: we drove the Prius many times in snowy and icy conditions and it felt pretty stable. It looks like the weight of the hybrid battery over the rear axle adds some stability on slippery roads. It seems that the tail doesn’t spin out as easily as in a typical front-wheel drive car. Another advantage is that it takes only a couple minutes to fill up the Prius at a gas station because of it’s small gas tank.

Toyota Prius cargo bin

Toyota Prius cargo bin.
Toyota Prius hybrid battery

Toyota Prius hybrid battery

Maintenance costs: The Prius is actually not very expensive to maintain. Why? Tires are cheap: $336-$464 per set on TireRack.com. Brakes last much longer than in a regular car because of regenerative braking. There is no alternator and there is only one tiny drive belt that drives the water pump. The belt itself costs less than $20 and takes a few minutes to replace. The Prius engine runs on conventional 5W-30 oil and takes only 3.9 qt. (3.7 liters) of it. Oil changes need to be done every 3,000-5,000 miles, depending on your preference. An air filter costs around $20 and is very easy to change. The cabin filter is also easy to replace (it needs to be replaced every 30,000 miles or more often if driving on dusty roads)

Hybrid system maintenance: The hybrid system doesn’t really need any special maintenance. The 2008 Prius maintenance schedule mentions changing inverter coolant at 100,000 miles and every 50,000 miles thereafter and inspecting the transmission fluid every 30,000 miles. In our 2004 Prius, we changed hybrid transmission fluid at 60,000 miles and it wasn’t even dirty.

Hybrid battery: First of all, according to many sources, the hybrid battery doesn’t fail very often. Even this 2004 Prius still has the original battery. According to the 2008 Prius owner’s warranty information, hybrid battery, hybrid control module and inverter with converter are covered for 8 years or 100,000 miles. The California Emission Control warranty for the hybrid battery goes even further: 10 years or 150,000 miles. Replacing a hybrid battery at a dealership will be quite expensive ($3,500-3,800 parts and labor), but there are plenty of alternatives. For example, we found that a used or remanufactured hybrid battery can be purchased on eBay for around $1,000. Some owners mention replacing separate battery modules (which of course should be done only by a qualified technician observing all safety precautions). The 2004-2009 Prius has 28 individual modules in the battery pack and we found separate modules sold on eBay for $26-$38.

Pros: Fuel economy, spacious cabin, visibility, front headroom, cargo space, large storage bin, low maintenance, takes a very little time to fill up, extra weight on the rear axle keeps it more stable on slippery roads, brakes last longer.

Cons: Lack of driver’s seat height adjustment, interior materials could be better, low clearance.

Common problems: There are several often mentioned problems. In the early 2004-2005 Prius models the Multi Function Display unit may become inoperative. The first symptom is when the display at times doesn’t show the state of charge of the battery and becomes slow to react. The 2004 Prius we used for this review actually starts showing this problem. Thanks to the author of this post for taking time and posting details on the DIU repair. The Toyota solution is to replace the unit, which is quite expensive, although there are remanufactured and used units available on eBay and other sites.
A leaking engine water pump is mentioned often, the repair is not very expensive ($350-$450).
HID headlights seems to be another trouble spot, so if you have a choice, opting for a model without HIDs might not be a bad idea. The first symptom is that HIDs start flickering and work intermittently. Toyota parts are expensive, but alternatives are available. A failed wheel bearing may cause a humming or rumbling noise. Replacement of the wheel bearing may cost $350-$480.

Overall: The Prius is an excellent choice to save money on fuel, especially if you have to drive a lot. There is a small risk of expensive hybrid system repairs, but fuel savings are quite significant. Most Prius owners are quite happy with their cars. One of the questions in the annual Consumer Reports survey is “would you get this car if you had it to do all over again? Guess what, 85 percent of a 5-year old (2008) Prius owners answered “Yes” which is the highest rating among small cars; read more in this CR article. Overall the Prius is very reliable. Aside from that, it’s a very practical car with a spacious interior and plenty of cargo space.

What to look for when buying a used Toyota Prius: The Prius has plenty of electronics and should definitely be avoided if the history report shows that the vehicle has been involved in an accident or flooded in the past. The main question buyers of used hybrid cars have is what is the condition of the hybrid battery. Unfortunately, there is no simple way to test the hybrid battery; even the procedure described in Toyota technical literature for technicians is quite complicated and time-consuming.

Toyota Prius state of charge

Toyota Prius state of charge.

What you can do is to test drive the Prius in all modes: slow on battery power alone, accelerating, coasting and decelerating. The battery state of charge is shown in bars on the center display. As you know, over time any battery loses some of its capacity. A battery with lower capacity will not hold the charge well and will drain faster with use. It’s difficult to tell how good is the Prius battery just by looking at the power flow monitor, but if you test-drive several vehicles, you might be able to see the difference. A battery with lower capacity may drain notably faster under similar conditions. We did a little test with this Prius. We found an empty road and tried to drive it with the A/C off at slow speed (under 15 mph) so it will run on battery power only. The battery state of charge dropped from 6 bars to 4 bars after driving for just under one mile. Beside, that, the Prius needs to be inspected similarly to any other car.

Here’s what to do when crops fail or prices fall

When you run a commodity-based business like farming, it is a sure reality like death and taxes that prices will fluctuate. When prices are high, farmers can make a profit.
When prices fall, farmers are at the whims of buyers. But prices are supposed to fluctuate according to demand, competition, and pests or blight.

There’s a big difference between normal price fluctuations and volatility in the marketplace. What do you do when “normal” fluctuations in price all of a sudden lead to a dramatic drop in prices? Let’s take three scenarios.
First: You have a small farm and 100 per cent of the land is used to cultivate one crop and the price for that crop just fell precipitously. Here is what to think about and do;

1) What forward contracts do you have, at what price, and for how much weight? Call your buyer to be sure it is still intact. Do you have insurance? Call your broker.

2) What loan-servicing requirements do you have? Call your banker or investor immediately and discuss the situation. Remember, you are not the only one affected by this. Their response depends on how many farmers are affected and what that does to the bank’s loan portfolio.

3) Add your voice to the need to access the set aside cash, if there is one, for crop failure and for price support from the county government. If this does not work, go to your national leadership and join with the voice of the national producer’s association for immediate government assistance.

But get back to work and plow what you can and replant with a good, hearty crop or bring the whole crop to harvest and if possible, store a third for later sale when the price rebounds, sell a third at that day’s price, and sell the remainder at a loss or destroy it. Storing grain in a bin, for instance, and waiting for spring prices is “a high-risk, high-reward” scenario.

Second: You have a medium-sized farm and you cultivate three different crops (tea, coffee and maize), and only one has experienced a precipitous price drop. In this case, do all of the things listed above and then, assess whether the price drop is structural, which means you will probably decide that your long-term strategy is to plow under the fields of the crop in question and starting afresh planning the next planting season.

Third: You have a large farm and you are as much a price setter as you are a price taker in the crops you cultivate. You can withstand a longer period of lower prices than small landholders, but you need to re-examine your brand, your customer base, and your expansion opportunities.

Remember, when the price is low, it is easier to expand into new markets with a strong brand name than it is to win over new customers during a price war. You need to manage demand during this time. You need to save your relationship with your key customers. And you need to manage your debt or use this opportunity to restructure your debt.

The single priority you should have is meeting your promise to supply your customers with the brand name they have come to love and equate with quality. If you can afford it, to keep processing capacity full, you might buy from neighbours at an even lower price and sell. You might decide to continue to buy from your neighbours, and replant your own fields with products that have shorter growing seasons and higher per kilo prices.

An example is alfalfa for maize or roses for tea or green grams for sukuma wiki. While the bigger you are, the greater your options, smallholder farmers should always consider diversifying. This option is always available to those interested in managing their risk.

NTV show host Janet Kanini Ikua diagnosed with lung cancer

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NTV’s N-Soko Property Show host Janet Kanini Ikua has been diagnosed with Lung Cancer. Janet Kanini Ikua, who is in India undergoing treatment revealed her diagnosis in a courageous Facebook update on her Fanpage. She has also been undergoing treatment for Deep Vein Thrombosis (DVT).

Below is the statement that Janet Kanini Ikua posted for her hers fans and Kenyans in general, revealing her medical report; Bizna wishes her God’s healing and a quick recovery:

“4 weeks ago I came to India seeking a medical answer – well I found it, and it was not what I expected. At all.

Before I write more, let me explain that my case of Deep Vein Thrombosis is not the typical case. It has gone on for a while so I don’t want anyone who gets it to be anxious that their journey will be the same as mine. Usually, anyone with DVT will go through the initial stages same as mine – a swollen leg, painful foot that makes it difficult to walk, hospitalization to stop the clot growing and return normal blood flow through the leg, plus anti-thrombotic stockings and blood thinner pills for a few months to dissolve the clot and ensure that it doesn’t travel to the danger zone – heart and lungs.Usually within 6 to 12 months DVT disappears though it can recur later, otherwise you can get back to work and life as usual even during treatment.

My case of DVT has turned out to be a symptom of something else, something more. Hence its stubborn refusal to respond to blood thinner pills and my reliance on Clexane injections that should ideally be used for 10 days – instead I have used them for more than 3 months.

So here’s what the latest medical reports say. Lung cancer. Stage 4, meaning it has spread from the primary lung site into lymph nodes.
Clearly my body is staying true to my love for drama and theatrics because a blood clot has also decided to hang out in the heart muscle. Doctors have called it ‘organized’ – yaani it’s fixed in the muscle with little chance of moving so I’m safe from that. We can focus on treating the cancer.

It has taken me weeks to decide to publicly admit that this is the diagnosis. One reason is that it is not advised to give voice to sickness. What you declare is what is. However I realize that discussing this condition over the past 3 and half months has helped people – those with similar symptoms, those with other ailments and those who are affected by caring for the sick. I know that sickness is not my portion, and if by sharing my experience I can help to educate and comfort others, then so be it.

Let me start from my arrival on Thursday 10th September. Coming to an Indian hospital was an excellent decision. These guys do so much medical tourism that they’ve turned it into a well-oiled machine. My husband brought me, and as soon as we walked out of the plane someone received us, helped us through immigration, negotiated the best foreign exchange rate and put us in a taxi straight to hospital. At the hospital door someone else who speaks English picked us, carried our bags and led us to the International Patient lounge where we were quickly registered and hotel confirmed before going to the doctor’s office for our first appointment. And this was another major surprise for us – our doctor is a top Surgical Oncologist, world-reknown, he even invented a surgical procedure that is named after him. And yet he is the most humble man, soft spoken, ready to listen to all concerns and questions; and his consultation fee is 1,000 rupees (kindu 1,600 bob) – far less than the amounts you find in Nairobi. After meeting him we were transported for free to the hotel – patients are entitled to one free pick and drop per day. Next morning I was promptly admitted and prepared for this machine that brings many Kenyans to India – the PET MRI scanner. It uses radiation to get an amazingly accurate picture of the internal workings of the body, so that you scan the entire body at a go. If I had stayed in Nairobi I was going to go in and out of CT scans, MRIs and ultrasounds around my body to discover what’s up, which would have meant a lot of money, time and uncertainty. So on Friday 11th September I was injected with a substance that made me radioactive. I was hot! LOL! smile emoticon Even hubby had to wait an hour before I was safe enough to be around him, and for the next 10 hours I drank loads of water to wash out the radiation. Apparently we don’t have this technology in Kenya because we don’t have nuclear laws that would enable safe handling of the radioactive isotopes. It is amazingly effective so I look forward to the day it comes. Most Indian hospitals have the PET CT scan and the multitudes of patients from across Africa and Europe are testament to their affordable effectiveness. Add to this the nursing care. Despite the language barrier the nurses and medical attendants are able to make patients comfortable and their expertise is unquestionable, because across the globe medical language, drug names and procedures are standard. Service with a smile is what you get here.

This hospital is huge so patients are pushed around in wheelchairs and the attendants make sure that your seat belt is strapped properly first. Though I think one of the attendants secretly wants to be safari rally driver because he sukumad that wheelchair fast…which honestly I enjoyed (I hope this doesn’t reflect on my driving!)

On Saturday the PET MRI scans were back so Doc sent me for an FNAC (Fine Needle something something..) where a very long needle was inserted to the lymph node at the base of my neck just above the shoulder blade. This is the test whose results led me to remember Sunday September 13th as a significant day in my life – the day I was told there is cancer in my body. I won’t bore you with my emotional reaction. At least hubby was by my side and the nurses turned out to be very supportive. Before I left Kenya my friends prayed that I get a medical team who respect and value my Christianity. Prayers were answered because I have been told of God’s compassion and healing by many Indians, which is great comfort.

The next day I was given a local anaesthetic and the lymph nodes on the left side of my neck-shoulder blade were cut into – a lymphatic incision – so as to get a tissue sample. The weird thing is that I was awake throughout the procedure, and they wanted this so that I indicate whether I feel any pain. The local anaesthetic makes it relatively painless, but I could feel the pressure as they tagged at the nodules that were like little balls….straaaanngee feeling. At one point my body was tilted so my head was lower than my entire body….really straaaannnggee feeling. But their operating theatres are well equipped and the personnel know their work. The tissue sample was then sent to the lab for a biopsy to determine whether I have the specific gene that will allow me to be treated with tablets only instead of chemotherapy.

Shock on me when the relatively painless procedure was over and the local anaesthetic started wearing off. OUCH!!! Suffice it to say hubby had to feed me like a baby for a full day coz moving my neck and head hurt. I was discharged to rest in the hotel as we awaited the biopsy results that would determine the way forward with treatment. Now, if you’re planning to travel here don’t stress about accommodation. Hospitals negotiate special rates with hotels. In a 5 star hotel on bed and a huge breakfast with free WiFi you can pay kshs.4,000 per person per night including taxes.Yes. In a 5 star. Special rates are also negotiated for 1 to 4 star hotels and self catering guesthouses, especially if you’re here for long. In the hotel meals are also discounted for patients, and unless you’re going shopping or sightseeing your transport to and from the hospital is sorted. You just need to be careful about prices because most goods and services are quoted excluding taxes. And find out cab rates before you take the ride because some cabbies think of us as rich tourists. I’ll tell you more ‪#‎TalesFromIndia‬ in the coming days.

Sometimes I look at myself in the mirror and wonder how scans can show that I am sick inside, because on the outside I look okay and, other than getting tired occasionally, I feel fine. People I meet say I look and sound fine. To deal with the situation I marvel at the way people react when I finally admit that I’m here for treatment of the C word. Suddenly expressions change and I am offered anything I want…..hmmm I wonder if I should take advantage of that?…. Perhaps ask to stay in the presidential suite… or ask them to buy me silk saris in all my favourite Kamba colours…..?

Chemotherapy begun last week with 22 hours continuous of pre-med drip to control side effects, then the chemo drug, a saline solution, more chemo drug, post-med drip, a one week break with a cocktail of pills and injections, then cycle one ended yesterday. I’m supposed to remain in New Delhi for sometime till the doctors confirm the best drugs that I can come home with to continue chemo. Fortunately hubby returned home two weeks ago to be with our babies because it was hard leaving them without us for so long, and it was heartbreaking watching them say “Come here” whenever we Skyped. frown emoticon My Mum came to replace him and to fuss over me smile emoticon “Kanini drink more water…make sure you eat…are you warm enough..” Hehe it’s interesting to be the baby again.

Has this time in India been easy? Not always. The other day a family with a daughter who’s my daughter’s age sat in front of me and I started crying as I showed the mother my kid’s photos. I do not claim to be the strongest spiritual person however I have learnt, and I’m still learning, to Be Still And Know That He Is God. He is the Lord that healeth me. He is not done with me yet. I remember the blind man in the Bible who Jesus said was not cursed but was born blind so that God’s glory could be seen at work in him, just as it will be seen in me through my testimony. John 9:3 “Neither this man nor his parents sinned,” said Jesus, “but this happened so that the works of God might be displayed in him.”
I remember the woman who touched Jesus cloak after years of bleeding and this faith healed her. I remember Job who was afflicted continuously, just when he thought it couldn’t get any worse, it did. But he held onto his faith and beat the devil’s plans. And so I will stand firm. There is too much evidence of miracles that have happened. God has already shown us favour in ways that might be considered small by some, but which make a big difference when you’re a patient in a foreign land. Medics who respect God and their calling to heal the sick no matter where these sick come from. Housekeepers who give extra water bottles because they know I need excess water to handle the chemo drugs. Restaurant staff who mill around me when I feel faint in the restaurant, to check if I’m okay and get my food sent to my room till I’m strong enough to come down. Taxi drivers who check on me because they became good friends with my hubby who’s a very social and happy guy, and who now treat my Mum very respectfully courtesy of that.

This morning we met a South African who’s here for a conference to discuss improving accessibility of healthcare to the mass African population, not just the rich. And after I told him the reason I’m undergoing treatment, he came to our table and for about an hour he ministered to Mum and I, despite his colleagues calling from the conference. And what he said made so much sense – about how sometimes God allows attacks such as sickness to make a person stop the life they’re living because it is not sustainable, not for their best; this downtime forces them to take time to recharge and re-think their goals and values, reconnect with God for that perfect relationship where we learn to give God genuine time because now we realize that He truly is the one in control. He is the Alpha and Omega. And as we successfully go through this season we begin to live at a higher level of wisdom and righteousness, with the Holy Spirit leading us all the way, all the time. Romans 12:2 “Do not conform to the pattern of this world, but be transformed by the renewing of your mind. Then you will be able to test and approve what God’s will is–his good, pleasing and perfect will.”

Let me leave you with that and go drink more water before Mum says I’ve forgotten to do so smile emoticon

Be blessed.”

Bizna wishes Janet Kanini Ikua a quick recovery, God’s healing, mercies and grace.

Top 10 Richest people in the world right now and their wealth

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This list is billionaire guaranteed!!! Not narrowed to one category, this list contains the richest people of the entire world. This list is purely based off of net worth and only contains individuals with a net worth that exceeds $1 billion. From business tycoons to the entertainment industry, anyone is eligible to make it as long as they have the cash. How many have you heard about?

Richest people in the world

Here’s how much world’s giant companies make per employee

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One of the remarkable aspects of tech companies is just how much revenue some are able to generate with so few employees.

But exactly how much money do companies like Apple or Google or Microsoft make per employee? Here are the 12 tech companies with the highest revenue, ranked by how much they take in per employee:

12. IBM: $244,447 per employee

12. IBM: $244,447 per employee

AP

Revenue: $92,790,000,000

Number of employees: 379,592

11. Panasonic: $275,839 per employee

11. Panasonic: $275,839 per employee

Thomson Reuters

Revenue: $74,970,000,000

Number of employees: 271,789

10. Hitachi: $285,618 per employee

10. Hitachi: $285,618 per employee

Flickr/Joe Haupt

Revenue: $93,180,000,000

Number of employees: 326,240

9. Hewlett-Packard: $369,040 per employee

9. Hewlett-Packard: $369,040 per employee

Rick Wilking/Reuters

Revenue: $111,450,000,000

Number of employees: 302,000

8. Samsung: $385,440 per employee

8. Samsung: $385,440 per employee

YouTube via IndVideos

Revenue: $188,480,000,000

Number of employees: 489,000

8. Samsung: $385,440 per employee

8. Samsung: $385,440 per employee

YouTube via IndVideos

Revenue: $188,480,000,000

Number of employees: 489,000

6. Sony: $571,450 per employee

6. Sony: $571,450 per employee

REUTERS/Toru Hanai

Revenue: $75,260,000,000

Number of employees: 131,700

5. Amazon: $577,482 per employee

5. Amazon: $577,482 per employee

Michael Seto/Business Insider

Revenue: $88,990,000,000

Number of employees: 154,100

4. Microsoft: $732,224 per employee

4. Microsoft: $732,224 per employee

AP

Revenue: $86,830,000,000

Number of employees: 118,584

3. Softbank: $918,449 per employee

3. Softbank: $918,449 per employee

REUTERS/Issei Kato

Revenue: $64,600,000,000

Number of employees: 70,336

2. Google: $1,154,896 per employee

2. Google: $1,154,896 per employee

Getty Images

Revenue: $66,000,000,000

Number of employees: 57,148

1. Apple: $1,865,306 per employee

1. Apple: $1,865,306 per employee

Marcio Jose Sanchez/AP

Revenue: $182,800,000,000

Number of employees: 98,000

Only 4 per cent of Kenyans invest in NSE

Only a paltry four per cent of Kenyans actively invest in the Nairobi stock market according to a new study.

The Oxford Business Group study has blamed the slow uptake of Nairobi Securities Exchange (NSE) products on lack of awareness.

However, the NSE and the Capital Markets Authority (CMA) believe the situation will change soon with the planned equities awareness campaign and roll out of diversified products.

DERIVATIVES MARKET

“There is great demand and appetite for the derivatives market in Kenya, from both investors and market participants,” said NSE Managing Director Mr Geoffrey Odundo.

Mr Odundo added: “Derivatives will not only offer a wider range of investment channels, but also give individuals, corporates and farmers a view of the future prices of currencies, interest rates, minerals and agricultural products. We believe this market will revolutionise Kenya’s capital markets industry.”

According to Mr Jimnah Mbaru, Chairman of Dyer and Blair, more Kenyans are getting involved in the securities market.

“Until recently, about 70 per cent of stock market turnover was generated by foreign investors, but this has since declined to around 60 per cent,” Mr Mbaru said.

MANUFACTURING BASE

While attributing the slow growth of the equities market to the country’s low manufacturing base, Mr Mbaru said Kenya needs to focus on developing its manufacturing and industrial sectors, as these are the prime candidates for long-term capital secured by way of the markets.

“Currently only around 12 per cent of GDP comes from manufacturing. This is not enough to support equity market growth,” said Mr Mbaru.

The NSE and CMA have in the recent past exuded confidence that the introduction of new products and tools aimed at boosting liquidity may help Kenya support growth of its capital markets during a period of broader emerging market volatility.

One such investment vehicle is the exchange-traded funds (ETF) segment, which is due to be launched before the end of the year.

Other initiatives include a new securities settlement platform, expected to go live in the next few months, which will feature functionalities such as same-day trading, settlement services for government securities, and securities lending and borrowing to facilitate short-selling and other investment strategies.

The country also plans to launch a derivatives market in the fourth quarter, which will make the NSE the second bourse in sub-Saharan Africa after Johannesburg to offer such instruments.

Initial offerings on the long-awaited market will focus on agriculture and mineral products, followed by mining and power.

CMA and NSE are also looking to raise the number of companies traded on the bourse by encouraging additional listings on the Growth Enterprise Market Segment (GEMS), an alternative board consisting of small and medium-sized enterprises (SMEs).

Only four companies have listed since GEMS was launched two years ago.

What it took to breed and rear Sh. 1 million bull won by President Uhuru in auction duel with Kidero

At the just concluded Agricultural Society of Kenya (ASK) trade fair at the Jamhuri grounds in Nairobi, President Uhuru Kenyatta bid Sh1.1 million for the winning steer. He beat governor Evans Kidero to the prize bull by Sh200,000.

The two-year old castrated bull christened ‘Champion’, a cross breed of Boran and Simmental species, weighed 560 kilogrammes.

The President donated it to the Nairobi area police. Mr Kidero walked away with the second-placed steer – a 625kg pure Boran breed; he paid Sh950,000.

Apart from their genetic composition and winning ways, the two steers have more in common: they were both bred by the Kenya Seed Company and were reared from birth by the same person.

Jafred Kangala reared the two animals at the seed company’s Elgon Down Farm in Entebbes, Kitale.

The Business Daily met the 58-year-old breeder last Friday at the showground and he explained how the company achieved the feat. The two bulls were earmarked for the competition from birth.

“They were separated and weaned from their mothers at about eight months. This was done specifically for the ASK show,” said Mr Kangala.

The two bulls, commonly known as the East African Boran, have a unique genetic composition from the Zebu, European-Middle East Bos Taurus and African Bos Taurus. This breed is believed to have been there for approximately 2,000 years.

The original hybrid has a hump and a general white colour with dark spots and pigmented black skin but it is also common to see a brown version with dark spots around the neck, the backside and around the hump.

The steers have loose and thick skin with fine short hair that makes them tolerant to drought and heat, the unique qualities that makes them highly favoured by farmers in arid areas.

Mr Kangala, who has worked at the Kenya Seed farm since 1997 explained that at birth, male calves of crossbreed weigh approximately 28 kilogrammes while female ones are three kilogrammes lighter.

Animals earmarked for breeding are fed on sunflower fibre, hay, lucerne, maize crushed together with cobs and sorghum, feeds mixed with molasses and water. These, the breeder said, help them to attain fat content.

Mature cows are medium-sized and weigh between 350 and 400 kilogrammes (live weight) and are respected for great mothering skills.
Developed bulls on the other hand can attain a peak weight of 800kg or higher. Despite their huge mass, such bulls are docile and are easy to handle.

“We normally sprinkle some molasses on their feeds and add an appetiser to make them eat to their fill twice a day before and after grazing. We also give them saltlick, which also helps in fattening,” said Mr Kangala.

“With all that feeding, a bull drinks up to 20 litres a day,” he said, adding that they graze in a five-acre field from 9am and are vaccinated, dewormed and spray-dipped every two months.

The Kenya Seed Company owns about 600 cows in total in Kitale. The main species are hybrids of Boran and Hereford, Boran and Simmental, Simmental and Hereford.

They also rear pure Boran bulls, which Mr Kangala describes as the perfect beef cow.

Fat content

Every year, the company which specialises in researching, developing and marketing agricultural seeds, sells about 60 Borans for beef to local butchers.

The company’s head of sales and marketing Sammy Chepsiror says that besides developing seeds for crop, they also come up with seeds for cattle pasture.

“We want farmers to learn and know the right ways to feed their cows in order to maintain high standards for stock fat. That is what puts us ahead of the pack at the ASK shows,” said Mr Chepsiror.

A bull of about 450kg normally retails at about Sh70,000 at the farm but the prices can go up to Sh285,000, depending on fat content. Besides rearing cattle for beef, Kenya Seed also keeps about 100 cows for milk production, from which they collect approximately 500kgs of the product every day.

Beyond weight

At this year’s agricultural trade fair, the seed firm showcased a total of 24 bulls which weighed an average 220kgs. They were all sold at an average auction price of Sh300,000, said Mr Chepsiror.

Samuel Gathongo, the chairman of the Association of Kenya Auctioneers, said they consider a number of qualities in a winning steer (bull) over and above its weight.

Boran crossbreeds or pure Borans with fewer teeth and are young are preferred by butchers since they have tender meat, he explained.

“Kenyan commercial ranchers have long recognised the Boran cross breed’s prolific qualities and small size compared with other Zebu and composite breeds,” the Boran Cattle Breeders Society says.

“Furthermore, by crossing with an appropriate Bos Taurus sire, any desirable beef or dairy combination can be custom-made. The genetic completeness of the Boran cow simplifies herd structure.”