East African Cables Ltd

CEO Appointment

 

The Board of East African Cables Limited is pleased to announce the appointment of Peter Arina as the new Chief Executive Officer. He succeeds the current CEO, George Mwangi, who is set to leave the company on 30th September, 2015.


Mr. Arina has previously worked with Safaricom Limited, where his last two assignments were as Chief Commercial Officer and General Manager, Consumer Business. In this latter role he was involved in creating and designing of the new Consumer Business Unit into a robust, competitive and financially successful commercial organization. He was responsible for the company Consumer Business principally Voice, Messaging and Mobile Data. He also played a pivotal role in the commercial and national rollout launch of M-pesa payment platform in the broad retail merchants.


Mr. Arina started his career 1989 with Unilever Kenya in Nairobi, initially as Brand Manager and later a Customer Development Director. During his career with Unilever Kenya, he developed and implemented the Key Distributor system, led the sales team in achieving the agreed results in terms of retail distribution, volume targets and market share.


Mr. Arina has a degree in Bachelor of Commerce from the University of Nairobi. While in Unilever, he took training programmes in customer development, marketing, branding, advertising and management.


The Board is confident that with this appointment, the Company has both leadership and the staff to build on its existing strengths and develop in the new directions that will ensure future sustainability and growth.


By Order of the Board
Chairman
28th September 2015

 

ABOUT EAST AFRICAN CABLES
East African Cables is a leading manufacturer of electrical cables and conductors in East and Central Africa, the company was incorporated in 1966 and is listed on the Nairobi Securities Exchange with its head office in Nairobi’s Industrial Area. It comprises of
two manufacturing facilities in Nairobi, Kenya and one facility in Dar es Salaam, Tanzania. The company manufactures Copper Cables and Conductors for domestic application as well as industrial power applications and Aluminium Conductors and Cables used for power transmission and distribution. East African Cables products are targeted towards the retail market, the minor and turnkey contractor projects and the utility market. Recently, the company’s copper factory has been undergoing a major facelift that will see an increase in its production capacity to serve the market better.

For more details contact
East African Cables, Marketing Office This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Factory Upgrade – Press Release

To View or Download The Factory Upgrade – Press Release click here

EAC partners with Jamii Bora Bank

October 23, 2014

JOINT PRESS RELEASE : Jamii Bora Bank and East African Cables


JAMII BORA BANK TO FINANCE EAST AFRICAN CABLES CUSTOMERS.


Kenya’s fastest growing bank, Jamii Bora Bank Limited, and leading regional cables manufacturer, East African Cables Limited, today signed a memorandum of understanding that will see the bank provide pre and post-delivery credit facilities to cable customers supplying to Government tenders, utilities (REA, KPLC) and projects especially those that fall under the government’s 30% initiative to the Youth, Women and Persons with Disability.
According to the memorandum which was signed by the Chief Executive of Jamii Bora Bank (JBBL), Sam Kimani, and the Chief Operating Officer of East African Cables Limited (EACL), John Mugo, EACL will deliver the finished products to the cable customers on condition that JBBL issues a letter of undertaking to pay for the cost of the cables directly to the manufacturer. “This is part of our trade finance offering whose key objective is to ensure availability of working capital to businesses in order to ease the financial burden on small and medium enterprises. Suppliers and distributors of cables are an important target market for us as they operate with limited financial resources,” said Kimani.

JBBL will issue the letter of undertaking upon delivery of products and on confirmation and acceptance of the goods by the buying entity. “This partnership will enable our customers to grow their businesses in a consistent manner even as they await payment from their end-buyers by utilising working capital financing from Jamii Bora Bank,” said Mugo.
Further, the MOU requires EACL to open an account at JBBL into which proceeds of the transactions shall be deposited. “This will make it easier for us to pay EACL monies accruing from the sale of cables to distributors and suppliers under this arrangement,” added Kimani.
JBBL will also provide post-delivery lending covering working capital for a period of 90 days pending payment from buyers. There will also be LPO/Contract financing for a maximum of 120 days. “This credit facilities will be subject to regulatory guidelines and our own due diligence and lending policy,” said Kimani. The arrangement comes into effect immediately. --Ends—

ABOUT JAMII BORA BANK

Jamii Bora is Kenya’s fastest growing Bank, with a dedicated customer base of over 300,000 and 34 outlets countrywide. Since December 2010, the Bank’s core capital has grown stand at KShs1.4 billion, and has plans to increase that by a further KShs1 billion 2015 to support growth.

In a move to diversify funding and stabilise its balance sheet the Bank successfully issued a Corporate Bond offer via private placement of KShs1 billion 5-year tenure bond, priced at 13.3% per annum which was oversubscribed by 2%. This also enabled the Bank to finance its continued penetration into the micro enterprise & housing sector and the underserved SME market with new products and services.

ABOUT EAST AFRICAN CABLES

East African Cables (EAC) is a leading electrical cables and conductors manufacturer in East and Central Africa. Incorporated in 1966, EAC is quoted in the Nairobi Securities Exchange with its head office in Nairobi’s Industrial Area. The company has 2 manufacturing facilities in Nairobi,Kenya and one in Dar-es-Salaam, Tanzania.

Products manufactured by East African Cables include low voltage Copper electrical cables for domestic and industrial use, Aluminium conductors and cables for power transmission and distribution. EAC has consistently kept with technological advancement being the first in the region to start manufacturing Aerial Bundled Conductors (ABC), Halogen Free Fire Retardant Cables (HFFR) as well as insulating cables using Cross Linked Polyenthylene (XLPE).

For More information kindly contact:
JAMII BORA BANK
Name: Pauline Osoro
Designation: Marketing and Public Relations Department
Telephone: +254 721 847739
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Website: www.jamiiborabank.co.ke

EAST AFRICAN CABLES
Name: Phyllis Gachau
Designation: Group Marketing Manager
Telephone: +254 721555544/ +254 710555544
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Website: www.eacables.com

Accreditation Press Release

East African Cables unveils a domestic electrical technician’s accreditation programme

… geared at guaranteeing professional domestic wiring services to avert risks

 

Nairobi, 23/06… Regional cables and conductors manufacturer East African Cables has rolled out a countrywide campaign to accredit electricians in a move aimed at weeding out unscrupulous players in the construction industry.

Dubbed the EAC Fundi Shupavu Campaign, the ongoing initiative has seen East African Cables and its countywide distributor network register over 600 ERC licensed electricians countrywide, that will be accredited by EAC to provide electrical services to the building and construction industry.

In the on- going campaign, East African Cables is targeting domestic electricians who have already been licensed by the ERC and have five years working experience as an electrician.

Speaking when he announced plans to unveil the programme, East African Cables Group CEO Mr. George Mwangi explained that domestic electricians who qualify for the partnership will be required to register at any of the East African Cables Customer Service outlets in Nairobi, Kitengela, Rongai, Kiambu, Nakuru, Thika, Nyeri, Eldoret, Mombasa and Kisumu.

The building industry, Mr. Mwangi noted had been infiltrated by uncertified and unqualified electricians who are offering substandard electrical services, putting the lives of the end users at risk.

Upon purchasing East African Cables products, customers will be referred to accredited electricians within their regions to professionally install the cables.

“At East African Cables, we are now embarking on a long-term initiative to empower cable installers with skills to enable them undertake quality installations that primarily guarantee safety and value for money,” Mwangi explained.

And added: “the commencement of this training and accreditation program signifies our commitment to ensuring professional cabling applications for specific uses to avoid unnecessary risk and losses.”

By training and registering electricians, East African Cables is also taking a strategic step to ensure that the construction industry continue to tap into a pool of trained domestic electrical technicians.

Besides the training, fundis across the country will also receive training on the range of domestic wires available and their ideal applications.

The East African Cables Boss explained that local cabling systems installers and apprentice wiring technicians are expected to gain considerable experience on the suitable applications of both specialised and domestic cables.

The cables boss also urged Kenyans to insist on using qualified and certified electricians for their construction needs.

 


 

Note to Editors

East African Cables was incorporated in 1966 and is one of the more experienced cable manufacturers in Africa with close to four decades of experience in cable production. A public limited company listed on the Nairobi Stock Exchange with its head office in Nairobi’s Industrial Area, East African Cables is the premier cables manufacturer in East and Central Africa. It comprises of two manufacturing facilities in Nairobi, Kenya and one facility in Dar es Salaam, Tanzania. While the Nairobi factory was commissioned in 1966, the Dar facility was commissioned in 1977 and joined the East African Cables family on October 27 2005.
Products manufactured by East African Cables include copper electrical cables and conductors for domestic as well as industrial applications and the company has over the years continually supplied the construction industry with quality products. The next range of manufactured products is the aluminium conductors and cables used for power distribution transmission over national gridlines.

E. A. Cables supplies a range of other cables including; Telecommunication cables, data cables, LAN cables, fiber optic cables and related accessories.

2011 Half Year Results

East African Cables profits re-bound

…as sales in the regional market grow and Tanzania subsidiary recovers


14/7…Regional operating cables and conductors manufacturer, East African Cables has announced a more than 946% growth on its profit before tax in its just released half year trading results.
In a classical validation of the firm’s return to profitability strategy announced earlier in the year, East African Cables efforts to grow its distribution channels through accredited dealers throughout the region appears to be paying off.


The strategy which also focused on revitalizing the firm’s operations at its Tanzanian subsidiary has also registered positive recovery for the Dar es Salaam based arm which had earlier registered a huge loss. The strategy has served to tremendously raise the firm’s local and export sales affording the firm a turnover of more than Kshs 2.3 billion representing a 29% growth up from Kshs 1.8billion posted within the same period last year.


Speaking when he announced the results, East African Cables Group CEO Mr. George Mwangi, confirmed that the turnaround adopted by the firm is firmly on course, managing to earn Kshs 249million profit before tax up from Kshs 23million registered during the same period last year. We acknowledge that customers are seeking for more value and the winners of tomorrow must be dynamic and responsive to market trends. Investing in customer relations and building strong partnerships with stakeholders with strong emphasis on a more environmentally and socially responsive business remains our priority,” Mwangi said.


With an operating profit jump of Kshs 317million up from Kshs 238million, Mwangi attributed the firm’s growth to increased sales in the regional markets and the recovery of the firm’s Tanzania operations. During the same period last year, East African Cables had suffered an after tax loss of Kshs 56Million which has now been turned around to a Kshs 172million profit. “Despite the prevailing economic challenges in the region, we expect to maintain the current positive business trend,” Mwangi said. Earlier in the year during the firm’s investor briefing, East African Cables had outlined plans to further increase its market with expanded capacity and a mix of new products and market forays within and beyond the East Africa region.


In a first for a sub-Saharan cables manufacturer, East African Cables has already commenced production of aerial bundled conductors (ABC) which are much safer and more environmentally friendly for power transmission. In addition, East African Cables has introduced crosslink polyethylene cables (XLPE) which have the ability to carry more current for the same size of cable compared to PVC cables and have better strength at high temperatures.  The company has also commenced manufacture of Halogen Free Flame Retardant (HFFR) cables which is a first for any cable manufacturer in the region.
Besides the new products, East African Cables has moved to entrench its market footprint in key East, Central and horn of Africa countries including Burundi, Eastern DRC and Southern Sudan this year alongside its operations in Kenya, Tanzania, Uganda and Rwanda. The additional capacity commissioned positions the company to take advantage of demand in these markets.

Ends


Click Here To View/Download The EAC Half Year Results for 2011


Note to Editors


East African Cables was incorporated in 1966 and is one of the more experienced cable manufacturers in Africa with close to four decades of experience in cable production.  A public limited company listed on the Nairobi Stock Exchange with its head office in Nairobi’s Industrial Area, East African Cables is the premier cables manufacturer in East and Central Africa. It comprises of two manufacturing facilities in Nairobi, Kenya and one facility in Dar es Salaam, Tanzania. While the Nairobi factory was commissioned in 1966, the Dar facility was commissioned in 1977 and joined the East African Cables family on October 27 2005.
Products manufactured by East African Cables include copper electrical cables and conductors for domestic as well as industrial applications and the company has over the years continually supplied the construction industry with quality products. The next range of manufactured products is the aluminium conductors and cables used for power distribution transmission over national gridlines.
E. A. Cables supplies a range of other cables including; Telecommunication cables, data cables, LAN cables, fiber optic cables and related accessories.

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