ThreatLocker® Raises $115M Series D to Continue Delivering Zero Trust Endpoint Security to More Organizations

Round led by global growth equity firm General Atlantic, along with StepStone Group and the D. E. Shaw group, to accelerate product innovation and increase reach of Zero Trust endpoint security to organizations globally.

ORLANDO, Fla., April 24, 2024 (GLOBE NEWSWIRE) — ThreatLocker®, a global cybersecurity leader that offers a Zero Trust endpoint security solution, today announced it has raised $115M in Series D funding led by existing investor General Atlantic, a leading global growth equity firm, with participation from other major investors StepStone Group and the D. E. Shaw group. With the new investment, ThreatLocker® will continue to focus on driving product innovation to bring the power of Zero Trust security to more organizations and accelerating the company’s global expansion.

ThreatLocker® provides organizations with the ability to protect their IT operations with an effective Zero Trust approach to cybersecurity. The product suite provides enterprise-level server and endpoint security by blocking untrusted software, including ransomware, scripts and libraries, and exploits of known and unknown application vulnerabilities through Default Deny Application Control, Ringfencing™, Storage Control, Privileged Access Management, Network Access Control, as well as its new Endpoint Detection & Response (EDR) and Managed Detection & Response (MDR) solutions. ThreatLocker® believes that its customers should have complete control over their network and devices, know what is trying to infiltrate their stack, and not live in fear of the next cyberattack. With a powerful security tool suite designed to enable organizations to easily and directly control exactly what applications run on their endpoints, ThreatLocker® customers can rest assured knowing that their businesses are protected using the Zero Trust model framework that protects them from various cyber threats, including unknown malware, ransomware, and exploits for known and unknown vulnerabilities.

ThreatLocker® CEO Danny Jenkins commented, “ThreatLocker has made a huge impact in the industry in driving a least-privilege approach forward over the last few years and has introduced new EDR and MDR products within a single cybersecurity platform for our customers. We believe this new injection of capital will enable us to continue to develop Zero Trust products and grow ThreatLocker’s market presence. We are very excited to be partnering again with General Atlantic, as well as with new investors, StepStone Group & the D. E. Shaw group, and look forward to leveraging their teams’ deep experience in bringing products to market and scaling technologically-disruptive businesses.”

To add to this, ThreatLocker® COO Sami Jenkins commented, “We are thrilled to extend our partnerships with General Atlantic and look forward to working with StepStone and the D. E. Shaw group.” 

The new investment follows another year of growth as ThreatLocker® doubled its revenue and added 50% to its workforce. Today, ThreatLocker® has thousands of partners and protects over 50,000 organizations. Serving companies who are serious about security, ThreatLocker® partners with Enterprises and Managed Service Providers (and MSSPs), including many financial institutions, healthcare organizations, and airlines such as Emirates and JetBlue Airways.

Gary Reiner, Operating Partner at General Atlantic, continued, “ThreatLocker effectively takes the guesswork out of threat detection with its Zero Trust approach. As companies of all sizes increasingly focus on filling in gaps in their security stacks, Zero Trust is becoming a necessity – and we view ThreatLocker as an emerging leader in this paradigm shift. We are thrilled to further our partnership with the team to accelerate ThreatLocker’s growth as an endpoint security disruptor.”

About ThreatLocker® 
ThreatLocker® is a global cybersecurity leader, providing enterprise-level Zero Trust cybersecurity tools to improve the security of servers and endpoints. Founded in 2017 by Danny Jenkins, Sami Jenkins, and John Carolan, ThreatLocker® now serves thousands of organizations globally and is headquartered in Orlando, Florida, USA. For more information, visit: https://www.threatlocker.com/

About General Atlantic
General Atlantic is a leading global growth investor with more than four decades of experience providing capital and strategic support for over 520 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector-specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic has approximately $84 billion in assets under management inclusive of all products as of March 31, 2024, and more than 300 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, San Francisco, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit: www.generalatlantic.com.

About The D. E. Shaw Group
The D. E. Shaw group is a global investment and technology development firm with more than $60 billion in investment capital as of March 1, 2024, and offices in North America, Europe, and Asia. Since our founding in 1988, our firm has earned a reputation for successful investing based on innovation, careful risk management, and the quality and depth of our staff. We have a significant presence in the world’s capital markets, investing in a wide range of companies and financial instruments in both developed and developing economies. For more information, visit www.deshaw.com.

Media Contacts

ThreatLocker®
Spencer Ford
(689) 217-4246
spencer.ford@threatlocker.com

General Atlantic
Emily Japlon & Sara Widmann
media@generalatlantic.com

The D. E. Shaw group
media-inquiries@deshaw.com

Spencer Ford
ThreatLocker Inc.
+16892174246
spencer.ford@threatlocker.com

GlobeNewswire Distribution ID 9104839

EMGA décroche un financement de 15 millions de dollars US pour Banco Improsa au Costa Rica

LONDRES, 24 avr. 2024 (GLOBE NEWSWIRE) — En partenariat avec Banco Improsa, Emerging Markets Global Advisory LLP, ci-après « EMGA », annonce avoir obtenu l’ouverture d’une ligne de crédit à hauteur de 15 millions de dollars auprès de l’Agence japonaise de coopération internationale (ou JICA pour Japan International Cooperation Agency).

« Malgré la complexité du contexte macroéconomique mondial, nous nous réjouissons d’appuyer une fois de plus la vision durable de Banco Improsa pour soutenir les PME au Costa Rica et de mener à bien ce financement. » observe Sajeev Chakkalakal, Responsable de la branche Investissement et directeur général d’EMGA.

Félix Alpizar Lobo, Directeur général de Banco Improsa, commente la transaction en ces termes : « Ce financement confirme notre engagement en faveur du renforcement des PME au Costa Rica, et Banco Improsa est fière de partager l’objectif de la JICA en contribuant à la croissance économique et sociale des pays en voie de développement. »

Jeremy Dobson, directeur général d’EMGA, ajoute que « La solide gestion et la bonne santé financière de Banco Improsa ont joué un rôle clé pour aider l’équipe de la branche Investissement d’EMGA à obtenir ce financement. Ce soutien de la JICA contribuera à renforcer davantage la capacité de Banco Improsa à faire progresser son portefeuille de prêts dédiés aux PME. »

JICA

L’Agence japonaise de coopération internationale est une agence gouvernementale qui fournit une part majeure de l’aide publique au développement pour le compte du gouvernement japonais. Elle est chargée de soutenir la croissance économique et sociale dans les pays en voie de développement et de promouvoir la coopération internationale.

EMERGING MARKETS GLOBAL ADVISORY LLP (EMGA)

Implantée à Londres et à New York, EMGA vient en aide aux établissements financiers et aux entreprises en quête de nouveaux capitaux d’emprunt ou de capitaux propres. Son équipe multinationale compte des décennies d’expérience dans la réalisation de transactions pour le compte de ses clients sur les marchés émergents et les économies frontières de tous les pays du monde, y compris au Costa Rica qui reste un marché clé. EMGA continue d’élargir son rayonnement géographique et d’étoffer son offre de services en capitalisant sur son expérience reconnue dans la formation de capital et les prestations de conseil stratégique étendues à divers cycles économiques. Elle assied ainsi sa position prédominante sur le marché de banque d’investissement de niche ciblée sur les marchés émergents.

BANCO IMPROSA

Forte de plus de 37 ans d’expérience, Banco Improsa est une banque commerciale dont le modèle relationnel d’affaires et l’assise sur les marchés de niche convergent vers une spécialisation visant la fourniture de solutions et de services de financement aux petites et moyennes entreprises (ou PME), entre autres. Elle fait partie des premières banques privées du Costa Rica à proposer des services non financiers à ses clients et propose des conseils et un appui aux PME de longue date. Le principal facteur de réussite de Banco Improsa réside dans son engagement à respecter des normes élevées de service, en toute agilité et flexibilité, qui alliées à sa gamme de solutions financières personnalisées, lui a permis d’atteindre une franche position sur ce secteur.

Banco Improsa est une filiale du Grupo Financiero Improsa (ou GFI).

Coordonnées :
info@emergingmarketsglobaladvisory.com

GlobeNewswire Distribution ID 1000946462

A EMGA obtém financiamento de US$ 15 milhões para o Banco Improsa na Costa Rica

LONDRES, April 23, 2024 (GLOBE NEWSWIRE) — A Emerging Markets Global Advisory LLP (EMGA), em parceria com o Banco Improsa, anuncia que obteve uma linha de crédito de US$ 15 milhões da Japan International Cooperation Agency (JICA).

Sajeev Chakkalakal, chefe de banco de investimento e diretor administrativo da EMGA, afirmou: “Apesar de um ambiente macroeconômico global complicado, temos o prazer de mais uma vez facilitar a visão contínua do Banco Improsa de apoiar as PMEs na Costa Rica e concluir essa solução de financiamento.”

Ao comentar a transação, Felix Alpizar Lobo, gerente geral do Banco Improsa, disse: “Esse financiamento reitera nosso compromisso de fortalecer o segmento de PMEs na Costa Rica. O Banco Improsa orgulha-se de compartilhar o objetivo da JICA que é contribuir para o crescimento econômico e social dos países em desenvolvimento.”

Jeremy Dobson, diretor administrativo da EMGA, acrescentou: “A sólida gestão e a posição financeira saudável do Banco Improsa foram fatores fundamentais para ajudar a equipe do banco de investimentos da EMGA a garantir esse financiamento, e essa linha de crédito da JICA reforçará ainda mais a capacidade do Banco Improsa de aumentar sua principal carteira de empréstimos para PMEs.”

JICA

A Japan International Cooperation Agency é uma agência governamental que fornece a maior parte da Assistência Oficial ao Desenvolvimento para o governo do Japão. Ela foi criada para ajudar no crescimento econômico e social dos países em desenvolvimento e na promoção da cooperação internacional.

EMERGING MARKETS GLOBAL ADVISORY LLP (EMGA)

A EMGA, com filiais em Londres e Nova York, auxilia instituições financeiras e empresas que buscam novos capitais de dívida ou acionários. A equipe multinacional da EMGA combina décadas da experiência necessária para concluir transações em nome de seus clientes nos mercados emergentes e economias de fronteira do mundo, incluindo a Costa Rica, que continua sendo um mercado importante. Com um histórico comprovado em formação de capital e consultoria estratégica ao longo de diversos ciclos econômicos, a EMGA continua expandindo seu alcance geográfico e sua oferta de serviços, solidificando sua posição no mercado como um dos bancos de investimento de nicho mais proeminentes do setor voltado para mercados emergentes.

BANCO IMPROSA

É um banco comercial com mais de 37 anos de experiência, cujo modelo de negócios relacional e o foco em nichos de mercado são voltados para o fornecimento de soluções e serviços de financiamento para pequenas e médias empresas (PMEs), entre outros. O Banco Improsa foi um dos primeiros bancos privados da Costa Rica a prestar serviços não financeiros a seus clientes e conta com um longo histórico de aconselhamento e apoio a PMEs. O principal fator de sucesso do Banco Improsa é seu compromisso com elevados padrões de atendimento ágil e flexível, o que, aliado à oferta de soluções financeiras personalizadas, lhe conferiu uma sólida posição nesses segmentos.

O Banco Improsa é uma empresa subsidiária do Grupo Financiero Improsa (GFI).

Informações de contato
info@emergingmarketsglobaladvisory.com

GlobeNewswire Distribution ID 1000946462

UK businesses must prioritise payment technology to build customer loyalty and stay competitive: New research from Lloyds Bank and FreedomPay

London, United Kingdom, April 23, 2024 (GLOBE NEWSWIRE) —
  • Less than a third (27%) of businesses are confident they offer seamless payments experiences.
  • Almost two-thirds of businesses (59%) across Retail, Food & Beverages and Hospitality believe a good checkout experience offers the same competitive advantage as having the best products.
  • Customer preference is the factor most likely to influence businesses’ investment in payment technologies.

New research from Lloyds Bank and FreedomPay highlights the importance of UK businesses investing in new payment technology.

Two-thirds (59%) of UK Retail, Food & Beverage (F&B) and Hospitality companies were found to already put payments at the heart of their customer experience strategy, reflecting the growing importance of payment options to customers.

For retail-focused businesses, 59% believe that a good checkout experience is essential to building customer loyalty, with respondents believing it is as much a competitive advantage as having the best products.

Meanwhile, 57% of retailers said that a poor payment experience could have a detrimental effect on their business, pushing customers to competitors who offer a better experience.

The findings come as payment infrastructure is increasingly viewed as a critical part of customers’ shopping experience. As high inflation takes its toll on both independent venues and enterprise chains, this research demonstrates the need for businesses to prioritise customer satisfaction and build brand loyalty.

A Chip Off the Old Block

However, despite understanding the importance of providing a good payment experience for customers, making this a reality appears to be a challenge for many businesses.

Half of all business surveyed (49%) said they had not invested in payment solution updates at all, and only 27% of respondents felt confident in their omnichannel payment experience offering.

This disparity highlights that businesses have a lot of room for growth, as investment in new payment technology could lead to significantly enhanced customer experiences and result in increased sales.

Data leads to better customer engagement

Other findings highlighted how businesses are using data, with many understanding that payments data can help them to make more informed decisions. 80% of respondents said they are using payments data to learn more about their customers to tailor services and products for them, which can be crucial to maintaining customer engagement and driving brand loyalty.

FreedomPay’s President Chris Kronenthal said:
“What is evident from our research is that brands must focus on payments innovation now more than ever. Understanding what customers expect and want from a payment experience is fundamental to ensuring that customers keep coming back. Choosing the right payments partner can support strategic business decisions and streamline checkout to help to deliver a personalised, seamless, and data-driven experience any time, any place.”

Melinda Roylett, Managing Director, Lloyds Bank Merchant Services said:
“The way we pay has undergone rapid shifts in the past few years. Accelerated by the pandemic, technological advancements and innovative ways of using open banking have led to the increasing adoption of contactless, digital wallet solutions and embedded finance options such as Buy Now, Pay Later. Consumers now have more choice than ever. This means that businesses also need to think about how they use the payment experience at checkout to build business growth.”

We hope you enjoy the full Report at lloydsbank.com/paymentsinsight

ABOUT FREEDOMPAY

FreedomPay’s Next Level Commerce™ platform transforms existing payment systems and processes from legacy to leading edge. As the premier choice for many of the largest companies across the globe in retail, hospitality, lodging, gaming, sports and entertainment, foodservice, education, healthcare and financial services, FreedomPay’s technology has been purposely built to deliver rock solid performance in the highly complex environment of global commerce. The company maintains a world-class security environment and was first to earn the coveted validation by the PCI Security Standards Council against Point-to-Point Encryption (P2PE/EMV) standard in North America. FreedomPay’s robust solutions across payments, security, identity, and data analytics are available in-store, online and on-mobile and are supported by rapid API adoption. The award winning FreedomPay Commerce Platform operates on a single, unified technology stack across multiple continents allowing enterprises to deliver an innovative Next Level experience on a global scale. www.freedompay.com

ABOUT LLOYDS BANKING GROUP

  • Lloyds Banking Group is a leading UK based financial services group providing a wide range of banking and financial services, focused on personal and commercial customers.
  • We are proud to be by the side of British business, supporting more than 1 million UK businesses with leading digital and relationship banking services, as they start up, grow, thrive and trade internationally.
  • As part of the Group, Lloyds Bank Cardnet Merchant Services offers leading end-to-end payment acceptance solutions. We help businesses from all parts of the UK, and across all different sectors and sizes, giving them the support they need to take payments online, in store, or over the phone at any time.
  • For more information on how we help businesses to receive payments please visit: www.lloydsbank.com/cardnet

Attachments

Adam Charles, Media Relations
Lloyds Bank
0207 356 2374
Adam.charles@lloydsbanking.com

Hill & Knowlton for FreedomPay
freedompayUK@hillandknowlton.com

GlobeNewswire Distribution ID 9104694

Communication Authority Cracks Down On PSVs Offering Illegal Courier Services


Public Service Vehicles (PSV) and e-commerce companies operating courier services without a license from the Communications Authority of Kenya have been warned that action will be taken against them.

This is after CAK Director General David Mugonyi issued a notice stating that operating courier services without the necessary license from the Communication Authority is a violation of the law.

‘The Authority has noticed that several unauthorised public service vehicle (PSV) Saccos and e-commerce platforms are providing courier services without the necessary license from the Authority.’

‘Any person that is found to be in violation of the provisions outlined in Section 49 of the Kenya Information and Communications Act, 1998, is guilty of an offence and may face penalties or fines amounting to Sh300,000 or imprisonment for a maximum of one year or both upon being convicted,’ stated Mr Mugonyi.

Mugonyi advised the public to only use postal and courier services from licensed operators in order to guarantee the
security of their belongings, adding that the approach would also help the public minimise additional risks associated with using unauthorised service providers.

He further instructed the public to verify the legitimacy of courier service providers by asking to see a valid compliance certificate issued by the authority.

‘Consumers can enjoy a secure and reliable service experience by choosing to support authorised operators, which in turn provides access to prescribed complaint resolution and compensation mechanisms,’ he said.

Mugonyi further stated that the Authority’s website provides a detailed list of licensed courier providers as well as information on the courier market structure and license administration framework.

He further noted that obtaining the necessary license from the authority and consistently following regulatory guidelines were crucial for operators to ensure compliance.

The move comes after CAK published a gazette notice in early April issuing a seven-day operating notice to six post
al courier companies, revealing that they would revoke the license upon lapse of the notice.

The courier operators are at risk of shutting down, despite providing services to major towns like Nairobi, Kiambu, Mombasa, Kakamega, Kisumu and Eldoret.

As of June 2021, there were 289 licensed courier operators, an increase from 263 in June 2019. Additionally, the number of private courier outlets grew from 788 in the financial year 2019-2020 to 901 in 2020-2021.

Source: Kenya News Agency

Kenyan Coffee Nets More Than Sh1 Billion During This Week’s Auction


Coffee farmers allied to various cooperative societies have earned Sh1.058 billion in Tuesday’s auction at the Nairobi Coffee Exchange (NCE).

The amount was higher compared to Sh802 million that was realised last week from 19,804 bags that were auctioned.

During this week’s auction, 26,449 bags sourced from 1,081 cooperative societies across the country were traded.

In the auction a total of 5,056 bags of grade AA were sold fetching Sh247.6 million from local and international buyers. 10,377 bags of grade AB earned farmers Sh433.98 million.

Alliance Berries Ltd led the other coffee agents by selling 7,546 bags for Sh328.764 million followed by Kirinyaga Slopes Ltd which sold 7,371 bags of coffee for Sh264.58 million.

New Kenya Planters Cooperative Union (NKPCU) emerged third-best seller by selling 4,739 bags for Sh212.89 million.

Among the bags sold by NKPCU, 1,248 bags were of grade AA which fetched Sh64.301 million.

Among coffee factories that made remarkable sales include the Konyu factory in Kiriny
aga which sold 43 bags of grade AA earning Sh8.169 million.

Guama and Gaturiri factories which traded their coffee through Alliance Berries Ltd sold a total of 81 bags of grade AA earning Sh7.577 million.

The Karatina coffee factory through Alliance Berries Limited also sold another consignment of 133 bags of AA each at Sh60,702 per bag.

NCE acting Chief Executive Officer Lisper Ndungu said in the past few weeks, Kenyan coffee has continued to attract lucrative prices.

She said 19 local and international buyers have been attracted by Kenyan coffee adding the buyers are very interested in the quality of coffee offered in the auction.

Four factories including Konyu, Guama, Gaturiri and Karatina, Ms Ndungu said, presented high-quality coffee that fetched better prices.

The CEO who spoke to KNA via phone said other factories whose coffee fetched above Sh53, 000 per bag include Ndaroini, Kagumo, Iyego and Mukengeria.

In the coffee buyers’ category, Ms Ndung’u detailed that Ibero Kenya bought 5,960 bags for
Sh264.58 million, followed by C. Dorman Ltd which bought 4,308 bags at Sh222.27 million.

‘Other buyers were Kenyacof 5,622 bags for Sh213.66 million, Louis Dreyfus 5,511 bags for Sh198.89 million, Jowam coffee traders bought 1,163 bags for Sh42.9 million,’ said the NCE official.

Kigumo MP Joseph Munyoro in a rejoinder lauded the government’s efforts to revive the coffee sector saying farmers are earning better income from the crop.

He encouraged the farmers to adopt best practices to produce high-quality coffee which fetches better prices.

Chairman of Kenya Coffee Producers Association Peter Gikonyo said the coffee auction was stable following delivery of coffee by aggressive marketing agents.

He said his organisation is encouraging farmers to sell their coffee through renowned marketing agents noting that the NCE trading platform is doing well in terms of attracting best buyers.

Source: Kenya News Agency

Sotik Man Sets Up Football League To Foster Border Peace, Nurture Talents


A man from Rongena-Manaret Ward in Sotik Sub County has initiated a football league geared towards fostering peaceful coexistence between Bomet and Nyamira counties.

Geoffrey Ngetich came up with a league known as Silatee Cup which draws football teams from Tembwo, Manaret and Rongena locations.

Ngetich said the objective of the competition is to bring about peace between the said counties, which have for a long time been marred with conflict resulting from cattle rustling.

He said the league was also meant to nurture talents among the youth who would otherwise remain undiscovered.

‘During holidays, most of our youths remain idle and engage in wayward behaviours, and that is why we want to engage them in football to avoid the same,’ he said.

‘So far, we have three teams going into their finals on Thursday and we urge all members of the public to turn up in large numbers to motivate the competing teams.’

Ngetich further urged the County Government of Bomet to renovate fields and form football clubs in or
der to foster sporting talents in the county.

Source: Kenya News Agency

Legendary Snake ‘Omieri’ To Grace Fiesta Celebrations


The County government of Kisumu has arranged to showcase the remains of the legendary snake popularly known as Omieri during this year’s fiesta celebration.

This was revealed by the Kisumu County Executive Committee Member for Tourism and Commerce Mrs. Faridah Salim

‘As we marvel at the exhibition of the legendary snake Omieri let us remember the ancient tale and wisdom it embodies connecting us to our folklore and environmental heritage for Omieri reminds us of the delicate balance between humans and nature urging us to be mindful stewards of our surroundings,’ Salim pointed out.

This happens even as residents of Nyakach sub county which is believed to be the original home of the legendary snake, led by Mzee Yano Ogongo are now demanding that the remains of the legendary snake Omieri be returned to its ancestral home of Nyakach from Nairobi where it currently is, saying it was whisked to Nairobi without the consent of the local community through public participation forums.

‘And after the death of Omieri
it was taken to Nairobi against the wishes of the locals where it still is, but we want it back because it is our daughter who should be in her motherland and not wandering anywhere else like Nairobi,’ lamented Mzee Ogongo.

Source: Kenya News Agency

KNUT Intervenes In ECDE Teachers’ Pay Review


The Kenya National Union of Teachers has asked the Early Childhood and Development Education teachers to put on hold the planned signing of new salary deal with the County Bomet Government.

Led by Bomet KNUT Executive Secretary Desmond Langat following a meeting with the ECDE teachers in the county, the union has questioned the credibility of the reviewed salaries, citing disparities in the teachers’ paychecks.

Langat said the area county government did not follow the Salaries and Renumeration Commission guidelines resulting in disparities in salaries as compared to other counties.

He accused junior education officials of frustrating efforts by the County Assembly Speaker Cosmas Korir and the Governor Prof Hillary Barchok to look into the plight of the ECDE teachers.

He said a recent round table meeting with the Speaker of Bomet County Assembly indicated support and willingness to put an end to the endless tussle between the county government and the teachers.

The unionist said it was saddening to have l
ost one of the ECDE teachers at Chesoen Ward who had gone without salary for months saying it is alleged she died as a result of depression-related complications.

Langat asked the teachers not to append their signatures to the vague salary review, which was not negotiated, before they were enlightened on the same.

He urged the teachers to stand firm and not be intimidated by county education officers, who have more often than not used threats of dismissal as they fought for their rights.

Source: Kenya News Agency

KPA, KPC To Accelerate The Penetration Of LPG


The Kenya Ports Authority (KPA) and Kenya Pipeline Company (KPC) have vowed to work together to facilitate the penetration of liquefied petroleum gas (LPG) in every nook and cranny of the country in line with the government’s commitment.

KPA Managing Director (MD) Capt. William Ruto said during the signing of a Service Level Agreement (SLA) between the two state corporations that they will use Kipevu Oil Terminal 2 (KOT 2) in the offloading of LPG.

‘The facility is capable of handling four ships at any given time. All products can be offloaded simultaneously in this facility which also reduces the cost of doing business and in terms of demurrages, this country has been paying a lot of demurrages,’ said Capt. Ruto.

KOT 2, he added can offload up to 8000 metric tonnes per hour. The facility serves landlocked countries, and 50 percent of petroleum products are from landlocked countries. Private firms can connect to KOT2 through a common user interface.

KPC MD Joe Sang said, in partnership with the private se
ctor they will construct a four-kilometre pipeline from the common manifold to the Kenya Petroleum Refineries Limited’s (377-acre) land in Changamwe.

‘The pipeline will have a 24-inch-diameter pipe to the bulk import facility with a capacity of 30,000 metric tonnes that will be set up in partnership with the private sector,’ stated MD Sang.

KPC has developed a master plan to establish KPRL as a trading hub for the region. ‘We want to serve close to 12 countries in the larger East African region from Ethiopia down to South Africa,’ said Sang.

In line with the government’s promise to increase the accessibility of LPG. KPC is targeting five million homes to access subsidised LPG by 2027.

‘Most of our households cannot afford. The price of the six kilogrammes of LPG is close to Sh2500 including the cylinder and the gas itself. We want to see a reduction so that it is affordable not only for Kenya but also for the region,’ stated the KPC MD.

KPC will also set up storage facilities in the hinterlands to suppor
t accessibility to LPG.

The MD further revealed that on average 15,000 Kenyans die as a result of health-related complications brought about by the use of unsafe cooking habits.

To improve tree cover, KPC in partnership with the Kenya Forest Service targets to plant five million trees in line with the presidential green agenda.

In Jomvu Creek, KPC has so far planted 440,000 trees. ‘Our ambition is to be able to do 500,000 every year for the next ten years,’ said Sang.

KPC Chairman Faith Boinett said the KOT 2 will enable KPC to open KPRL to bunkering and penetration into the region.

‘There is a conversation between Uganda and Kenya to have a pipeline all the way to DRC, with this we will be able to have short turnaround time in terms of pushing the products efficiently and be able to meet the demands of the market,’ she said.

Source: Kenya News Agency