It’s that time of the month again.
Stanchart Top Bank
Market Intelligence published their eighth annual banking survey this week, and ranked Standard Chartered as the top bank in Kenya, followed by Barclays and surprisingly coming third was Equity Bank no. Other rankings are Citibank 9th, KCB 25, National Bank 26, and Co-operative Bank at number 30.
The Economist took its bi-monthly look at Kenya and notes that the prosecution of anti-corruption cases will continue to fail as long as they are handled by the Attorney General’s office – and that Parliament should transfer these powers to the Anti-Corruption Commission.
Both the Daily Nation and the East African Standard condemned the Privatisation Bill passed last week in Parliament, because it handed the entire privatisation process over to a “Gang of Eleven” – political appointees handpicked by the president and the Minister for Finance and who are not subject to approval of the Parliament . Earlier drafts of the Bill had provided for the involvement of bodies such as the Law Society of Kenya, the Institute of Certified Public Accountants of Kenya and the Federation of Kenya Employers in the privatisation process.
Elsewhere, India has abandoned plans to privatise a dozen profitable state-owned companies.
Airport Hotel booming
The new Panari Hotel is doing roaring business from airline passengers and crews. Because of its location on Mombasa Road, about halfway between Nairobi city and JKIA , hotel guests rarely have to worry about traffic jams on their way to the airport for their flights. It is also quite convenient for Wilson Airport passengers.
The Kenya Planters Coffee Union (KPCU) has re-opened a debt moratorium window 1st September to December 31st 2005. This will extend debt relief to farmers by giving them a chance to repay principal amount (no interest will be charged) from 31st December 1991 to 31st December 2001 with all interest payments forgiven.. However, this is not likely to fly as coffee farmers are asking the government for complete, 100% debt forgiveness including principal.
Saturday 20 August
12:30 – 15:00 MNET/SS1 Tri-Nations:: Australia vs SA,
13:00 – 14:15 SS2 Formula One: Turkish Qualifying,
14:10 – 17:00 SS3 FA Premiership:: Man Utd vs Aston Villa,
14:15 – 16:30 SS2 Scottish:: Rangers vs Celtic,
17:00 – 19:15 SS3 FA Premiership:: Liverpool vs Sunderland,
17:00 – 19:15 SS6 FA Premiership:: Newcastle vs West Ham,
19:15 – 21:30 SS3/CSN FA Premiership:: Birmingham vs Man City,
22:45 – 01:00 SS7 Spanish Super Cup: Barcelona vs Real Betis,
Sunday 21 August
14:30 – 17:00 SS2 Formula One: Turkish Main Race,
15:00 – 17:45 SS3 FA Premiership:: Bolton vs Everton,
17:45 – 20:15 SS3 FA Premiership:: Chelsea vs Arsenal,
18:00 – 21:00 SS1 IAAF GP: GP – Sheffield,