Blog entries from: Bankelele

Nairobi writer on Banking, Finance, Technology, and Investments

1 to 8 of 8

June 7 2014

From Bankelele Sat Jun 7 2014, 15:08:00

Excerpts from the prospectus for the 'Eurobond' being floated by the Kenya Government.

Advisors: Include two Kenyan law firms (Kaplan & Stratton, Anjarwalla & Khanna) and 3 UK ones. Citibank are the registrars and paying agents and lead managers are Barclays, JP MOrgan, QNB, Stanchart and Dyer & Blair is a co-manager. The prospectus notes that while no person has a material interest in the offer, the advisers may perform banking transactions with the Kenya government.

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May 14 2014

From Bankelele Wed May 14 2014, 03:43:00

The 2014 Africa Awards for Entrepreneurship will have five awards to celebrate entrepreneurs at different stages of the entrepreneurial life cycle; lifetime achievement, transformational business, outstanding mature business, outstanding growing business and outstanding social entrepreneur.

@APO_Source has had a scholarship for an African journalist to to attend the 2014 annual meetings of the African Development Bank.

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May 6 2014

From Bankelele Tue May 6 2014, 10:32:00

This week, we get a look at the payslips of two Kenyan members of Parliament (MP); One from the Nairobi Senator, Gideon Mbuvi Sonko, and the other from National assembly representative for Homa Bay, Peter Kaluma. While they earn roughly the same amount, they differ because one does not need his salary, while the other says he can't live on his salary (and stretch himself further).

Kaluma: Peter Kaluma released his payslip to support his position before a court case, in which he was asked to increase his monetary support for a child, which he said he could not do - as he took home zero in net salary.

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April 28 2014

From Bankelele Mon Apr 28 2014, 16:39:00

Ranked by assets (and placing in 2012)

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April 27 2014

From Bankelele Sun Apr 27 2014, 09:22:00

A visit to a Huduma centre showed that a shared building or hall where different banks serve their customers may be the future of the bank branch.

Despite new mobile, ATM, and internet channels, customers still need to come into bank halls quite a bit, as seen by the queues at beginning and end of each month. A lot of this is because customers need to bring and and remit payments that end up going to other banks either via direct deposit, cheques, or RTGS. Does the money need to physically move? No But the customers do, going from building to building to do single transactions at many banks.

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April 9 2014

From Bankelele Wed Apr 9 2014, 15:18:00

Arguably, the President was probably wrong when he said during a TV interview on the one year anniversary of his government, that their biggest achievement was free maternal health care.

A better answer was probably their introduction of Huduma (swahili for service) Centres in the country. Huduma Centres, which are at two post offices in downtown Nairobi, are offices where citizens can access a whole range of government services that they would previously have to visit a dozen different offices over several days to complete.

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April 6 2014

From Bankelele Sun Apr 6 2014, 13:58:00

On April 5, Kenya Airways (KQ), received, The Great Rift Valley - their first Boeing 787-8 Dreamliner aircraft in Nairobi.

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March 27 2014

From Bankelele Thu Mar 27 2014, 04:12:00

Monday this saw the signing of final agreements for the financing of the Lake Turkana Wind Power - LTWP project. This was the completion of a long, 9 year process that began with a fishing on trip on Lake Turkana, that yielded no fish, but a lot of wind on boat trip.

The signing of finance deals worth 498 million euros (~ Kshs. 60 billion), will go towards LTWP which at Kshs. 75 billion is arguably both, the largest single wind power plant in Africa and, the largest single private investment in Kenya.

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