Jamii Bora Bank Limited (JBBL), a fast growing SME focused bank, has received a Sh600 million equity investment from Chicago based private equity fund Equator Capital Partners LLC, under its ShoreCap II fund.

The investment will see ShoreCapII become a significant shareholder of the bank with a sha…

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The Capital Markets Authority (CMA) has received recognition for being the Most Innovative Capital Markets Regulator in Africa for 2016.

The award was conferred by International Finance Magazine, a quarterly magazine circulated in over 185 countries worldwide.

The awards, which were launched in 2012, are designed to promote and recognize innovation in the financial services sector with special focus on improving business performance.

CMA Chief Executive Officer Paul Muthaura said the award was a recognition of the efforts by CMA to position Kenya’s capital markets as an investment destination of choice for domestic, regional and international fund flows.…

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Over the past eight years, the Kenya Medical Supplies Authority (KEMSA) has been on a focused transformation journey. Once vilified as the epitome of everything wrong with public entities, today KEMSA stands tall as an example that strategic leadership with a clear focus can bring change. From a crucified parastatal, today the authority is among the most celebrated public companies.

“There was a time when we used to depend on the exchequer for funding. Today we have 100 per cent attained self-sustaining status,” says Dr John Munyu, KEMSA Chief Executive Officer.…

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The Eastern and Southern African Trade and Development Bank, commonly known as PTA Bank, has changed its official brand name to TDB (Trade and Development Bank).

The leading regional multilateral development finance institution (DFI), which has been in operation for just over three decades, has also announced that it will continue to increase financing for priority sectors such as infrastructure, manufacturing, industry and agribusiness across the 20 member states it operates in over the next five years.…

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On Thursday, July 28, 2016, the National Assembly passed the Banking (Amendment) Bill, 2015. The bill seeks to cap lending rates at four per cent above the Central Bank Rate (CBR) and to also set a minimum interest rate for deposits in interest-earning accounts at 70 per cent of the CBR.

This has put the National Assembly on a collision course with banks, which will inevitably result in even more suffering by the majority of the population. A safer path must be found that assures the population a larger share in the benefits of a vibrant financial sector and also allows banks to continue developing the sector.…

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Kenyan importers will be expected to procure marine insurance locally come January 1 2017 when Section 20 of the Insurance Act Cap 487 of the Insurance Act comes into force.

The regulation becomes effective as a result of Treasury’s directive for its full implementation to secure more revenue for the government that is currently being repatriated to overseas insurance companies.

Importers and the insurance industry are making efforts to prepare for the implementation by engaging on issues that importers have for a long time used as justification of taking oversees insurance.…

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Weetabix East Africa Limited has become the first food manufacturer in Kenya to be certified and accredited by the Kenya Nutritionists and Dietitians Institute (KNDI).

This is in compliance with the amended KNDI Act of 2015. The accreditation is the second step in a three part process that saw Weetabix undergo a stringent assessment of its factory and processes to ensure that they were up to standard.

“We are honoured to be the first food manufacturer in Kenya to be KNDI certified and accredited. This is a testimony of our every day culture of adhering to the strictest of global manufacturing standards,” said Weetabix Chief Executive Officer Ashan Manji.…

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Credit information sharing (CIS) is not just about monitoring loans default, re-payment patterns or even malpractices but also about ensuring efficient transmission of depositors’ funds to borrowers and particularly Small and Medium enterprises (SMEs). This is often referred to as financial intermediation, and helps the country’s financial services sector to provide higher returns to depositors and better terms to low-risk customers. Financial intermediation also helps in efficient capital reallocation from sectors with surplus funds to those with capital shortfalls.…

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Regional financial services provider Equity Group is targeting to increase the use of its mobile banking platform Equitel by small businesses, the lion’s share of the lenders customer base.

Equity Group Chief Executive Officer Dr James Mwangi said that the SME sector is a key market segment for Equitel and now accounts for 72 per cent of the Sh275 billion loan book.

Dr Mwangi said that through Equitel, the bank will increase financial literacy amongst entrepreneurs in the micro and small enterprises sector. The plan will be rolled out in partnership with the Equity Group Foundation…

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Nestlé recognizes the important role communities play in the long-term success of the company not only in Kenya, but globally. Thus for the company, focusing on rural development is key because the overall well-being of farmers, rural communities, small entrepreneurs and suppliers is intrinsic to its long term goals.

Equatorial African Region Corporate Communications Manager Judy Mwangi says that Nestlé has adopted the approach of creating shared value (CSV) to build a business capable of delivering superior shareholder value and helping people improve their nutrition, health and wellness.…

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A new set of building and construction occupational standards that will improve the quality of training and bridge the skills gap among artisans has been launched.
The occupational standards being the foundation for training artisans is designed to facilitate collaboration between the industry and Technical and Vocational Education and Training (TVET) Institutions so as to match the skills of trained artisans to meet market demands.

The Occupational Standards for the Building and Construction Industry has been developed in consultation with both public and private sector players including the National Construction Authority (NCA).…

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Corporate News

Jamii Bora Bank secures Sh600 million equity Finan...

Jamii Bora Bank Limited (JBBL), a fast growing SME focused bank, has received a Sh600 million equity [ ... ]

CMA ranked most innovative Regulator

The Capital Markets Authority (CMA) has received recognition for being the Most Innovative Capital M [ ... ]

PTA Bank rebrands, commits to increase funding for...

The Eastern and Southern African Trade and Development Bank, commonly known as PTA Bank, has changed [ ... ]

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