A few days ago, Haiti’s prime minister Ariel Henry announced his resignation as law and order in the long-suffering and poor Caribbean nation continued to collapse.
Henry is currently stranded in Puerto Rico after being prevented by armed gangs from returning home.
Henry left Haiti in late January to visit Guyana and Kenya, where he signed an agreement on the deployment of a Nairobi-led international security force to help tackle the violence.
He had been interim president since July 2021, after former President Jovenel Moïse’s assassination.
Some Haitians questioned the legitimacy of his unelected government and Henry’s resignation had been one of the main demands of the armed gangs that have in recent weeks taken over the capital, Port-au-Prince, in a wave of violence.
The gangs have attacked the main prison helped thousands of inmates’ escape, and targeted police stations, the capital’s international airport and its port.
Nearly 400,000 people have been displaced in the Haiti capital and women are enduring extreme violence.
Haiti looks set to be one of the few countries in the world where criminal street gangs have seized power.
This is the powder keg into which Kenya is supposed to jump and try to help stabilise the place enough to end the horrific violence and enable the warring political factions (and presumably gangs) to birth a new political settlement.
The planned Kenyan role in Haiti has not got much traction domestically. Many Kenyans think the mission is madness.
A viral video a few weeks ago showed the writer Ngugi wa Thiong’o was in tears, heartbroken at what he saw as Kenya intervening in Haiti as an imperialist running dog.
Many other Africans and Haitians are also opposed to the intervention.
Part of the opposition is not necessarily anti-Haitian but driven by the wider dynamics of Kenyan opposition politics, and a continuation of the necessary and democratic contest against the President William Ruto government.
However, part of the opposition is also a result of a new narrow and mutated ideological vision which, unlike the old pan-Africanism of Kwame Nkrumah and Julius Nyerere, pushes an apolitical version.
It celebrates pan-African culture, scholarship, stories, history, movement, and continental trade, but draws the line when men and women pick up guns.
They have their hearts in the right place and are wonderful people, but they should be ignored.
Several issues have been raised. One is what business Kenya has intervening so far away.
In 1804 Haiti, then a French (African slave) colony known as St. Domingue, declared independence after a heroic struggle.
It became the first free black republic in the world, the first independent state in the Caribbean and the second independent state in the Western Hemisphere after the United States.
Life has not been kind to it. It has been tormented and abused by cruel and corrupt leaders and endured unspeakable violence and extreme poverty for most of the 220 years since.
Can Kenya really solve such an intractable situation? No, it can’t, but it can open a possibility for relief. Enlightened intervention is possible.
The African Union (AU) exhorts us to be pan-Africanist and come to the rescue of the global African family. As some good scholars summed it up, it encourages
“the solidarity of Africans worldwide…based on the belief that unity is vital to economic, social and political progress and aims to ‘unify and uplift’ people of African descent [which Haitians are]. [Pan-Africanist] ideology asserts that the fates of all African peoples and countries are inter-twined…African peoples, both on the continent and in the Diaspora, share not merely a common history, but a common destiny.”
To some, though, that is too much soapy sentimentalism. They want to know where the money, ugali, and beans are.
Not good form, but let us go there. Africa has left this intervention business to, especially, the Western powers and, lately, Gulf States, for too long. Kenyan police will likely be killed, it is the nature of things when guns and grenades are in play.
But Kenya can get a good geopolitical and economic pay-off if it succeeds in Haiti.
Around the world power tables, it will no longer sit at the back. It will not get front-row seats, but second-row is possible.
When President Ruto calls the state houses of the leading power capitals of the world, his call will be picked immediately.
If Malawi’s President Lazarus Chakwera rang the same people, he would be told that they would return his call.
The next thing would be how to “monetise”. There will be reconstruction contracts in Haiti that Kenya could snag. There will be relief food to supply to Haiti’s hungry, displaced by chaos.
Nurses and teachers (if they speak French) could be dispatched. Kenyan banks could get to fund projects.
It sounds crass, but if they don’t, the Americans and French will run away with the deals. This is how the real world works. Too many people can’t handle it – or don’t want to face it. President Ruto shouldn’t be one of them.
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Britam half-year net profit hits Sh2bn on higher investment income
Insurer and financial services provider Britam posted a 22.5 percent jump in net earnings for the half-year ended June 2024, to Sh2 billion, buoyed by increased investment income.
The rise in half-year net profit from Sh1.64 billion posted in a similar period last year came on the back of net investment income rising 2.5 times to Sh13.27 billion from Sh5.3 billion.
“We are confident in the growth and performance trend that Britam has achieved, supported by its subsidiaries in Kenya and the region. Our business is expanding its revenue base while effectively managing costs,” Britam Chief Executive Officer Tom Gitogo said.
“Our customer-centric approach is fueling growth in our customer base and product uptake, particularly through micro-insurance, partnerships, and digital channels.”
The investment income growth was fueled by interest and dividend income rising 34 percent to Sh9.1 billion, which the insurer attributed to growth in revenue and the gains from the realignment of the group’s investment portfolio.
Britam also booked a Sh3.79 billion gain on financial assets at a fair value, compared with a Sh1.8 billion loss posted in a similar period last year.
The increased investment income helped offset the 12.7 percent decline in net insurance service result to Sh2.13 billion in the wake of claims paid out rising at a faster pace than that of premiums received.
Britam said insurance revenue, which is money from written premiums, increased to Sh17.8 billion from Sh16.6 billion, primarily driven by growth in the Kenya insurance business and regional general insurance businesses, which contributed 30 percent of the revenue.
The group has a presence in seven countries in Africa namely Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique, and Malawi.
Britam’s insurance service expense hit Sh13.6 billion from Sh11.3 billion, while net insurance finance expenses rose 2.6 times to Sh12.3 billion during the same period.
“Net insurance finance expenses increased mainly due to growth in interest cost for the deposit administration business driven by better investment performance. This has also been impacted by a decline in the yield curve, which has led to an increase in the insurance contract liabilities. The increase has been offset by a matching increase in fair value gain on assets,” said Britam.
Britam’s growth in profit is in line with that of other Nairobi Securities Exchange-listed insurers, which have seen a rise in profits.
Jubilee Holdings net profit in the six months increased by 22.7 percent to Sh2.5 billion on increased income from insurance, helping the insurer maintain Sh2 per share interim dividend.
CIC Insurance Group posted a 0.64 percent rise in net profit to Sh709.99 million in the same period as net earnings of Liberty Kenya nearly tripled to Sh632 million from Sh213 million, while Sanlam Kenya emerged from a loss to post a Sh282.2 million net profit.
