BY VICTOR ADAR They say that trade finance is all of domestic and international trade transactions, and that such a transaction requires not only a seller of goods and services but also a buyer. As always the case, agents such as banks can facilitate these transactions by way of financing the trade. Credit Bank PLC is one financial institution that has for the last two years focused on creating trade finance solutions for businesses and especially Small and Medium Enterprises (SMEs). Stating variously that its vision is “to be the most respected financial institution in our target market”, the Bank’s…
Author: NBM CORRESPONDENT
Banking performance for first half of the year paints a bright picture for KCB Group, which has retained its top position since 2016, as the most attractive bank in Kenya according to Cytonn Investments Report. This is attributed to a strong franchise and intrinsic value scores. The franchise score measures the broad and comprehensive business strength of a bank across 13 different metrics, while the intrinsic score measures the investment return potential. Housing Finance Group though, ranked lowest overall, ranking last in the franchise value score. Ian Kagiri, an investment analyst at Cytonn Investments said that the Kenyan banking sector…
BY KOSTA KIOLEOGLOU Over the last 18 months, many people believed that the only reason the real estate market was slowing down was the election period and the wait and see attitude of buyers and investors. A year has passed since, it is also nine months since the ‘hand shake’, which officially marked the end of the election period and reality is presenting a different version of the story. This might not be the one that desperate property investors would like to hear but it seems that it is the one that applies. Real estate market in Kenya is not…
The Next Einstein Forum (NEF), an initiative of the African Institute for Mathematical Sciences (AIMS) in partnership with Robert Bosch Stiftung, announced last month the beginning of NEF Africa Science Week in 35 African countries throughout the months of October and December 2018. NEF Africa Science Week are led by NEF Ambassadors, local science and technology champions, together with support of local academic, public and private sector stakeholders and sponsors, who organize three to seven days of events in their countries to promote Science, Technology, Engineering and Mathematics (STEM). “Last year, we had Africa Science Week in 13 countries. We’ve…
In May this year, Polycarp Igathe raised a storm when he resigned as Nairobi Deputy Governor barely six months into office saying he had failed to gain the much-needed trust from Governor Mike Mbuvi. Polycarp is now managing director of tier one lender Equity Bank Kenya. Having joined the bank just five months ago, as the chief operating officer, Mr Igathe is proof that quitting a job can be cool after all – his came after a short stint in politics. He was named in a process where the financial institution is separating the management of its subsidiaries from the…
Despite an economic slowdown, most African countries are reported to have a positive economic outlook. This is according to Institute of Chartered Accountants in England and Wales’ (ICAEW) latest report; Economic Insight: Africa Q3 2018 launched last month by the accountancy body The report, produced by partner and forecaster Oxford Economics, provides a snapshot of the region’s economic performance including East Africa, West and Central Africa, Franc Zone, Northern Africa, Southern Africa. East Africa, the report says, continues to be the continent’s best performing region with a GDP forecast at 6.3%. This positive outlook is due to the region’s economic…
BY VICTOR ADAR In the midst of harsh business environment, only individuals who out think will put their businesses on the right path. One Goodie Odhiambo is proof that it is never business as usual. Ms Goodie is behind Goodie’s Limited, a company established in 2009 mainly to provide sustainable employment for craft artisans by developing the production and design of quality Kenyan handcrafts. A year after her company was birthed, which might seem such a long time, she has been procuring products directly from handcrafters, over 150 talented artisans, who create stunning works that are mostly sold locally. She…
Capital Markets Authority (CMA) University Challenge 2018 has been launched. The inter-varsity competition whose objective is to promote capital market knowledge commenced late last month and will run through to December 31 when the finals will be held. “As much as there are great prizes to be won, the real objective is to inculcate a culture of savings and investments amongst the youth,” said Mr Paul Muthaura, CEO CMA during the launch. A total of 37 local universities have confirmed participation that will see close to 6015 students compete for the grand prize of Sh150, 000 worth of portfolios of…
A new player has joined the online retail industry in Kenya to tap the growing numbers of shoppers turning to the Internet to buy various items. Hashmart Kenya, which specializes in electronics, is positioning itself to give established players in this segment a run for their money. The company is owned by a consortium of local investors led by Mansoor Hussein, a veteran retailer and wholesaler of electronic products in the offline market. Hashmart, which was started in 2017 but just been officially launched, has focused on niche premium brands which include electronics and accessories as well as lifestyle collections. Mr…
ICT Cabinet Secretary Joe Mucheru last month officially launched the 2018 Connected ICT Innovation Awards, which will see young Kenyan innovators feted during the Connected Kenya Summit that will be held at the Bomas of Kenya from 22nd – 24th October. The awards celebrate Kenyan entrepreneurs that have created new ICT solutions. Over 45 ICT products and services have been awarded since the inaugural awards which were held at the Connected Kenya Summit in 2011. “Our focus for Connected 2018 is the Big 4 Agenda. Technology has a significant role to play in the Big 4 and I look forward to seeing…