IFC funds D-Trust diversification: Diamond Trust Bank will get a $45 million (Kshs. 3.2 billion) loan from the Investment Finance Corporation this year: a subordinated loan of $15 million; and $30 million for housing finance, on lending to SMEs, consumer financing, education/student loans, health-care, and agribusiness financing. (Note: I own shares in Diamond Trust)
Super Barclays: Barclays Kenya is the first bank to announce ‘its profits for 2007. They are up about 7% from the subdued profit of Kshs. 7 billion ($100 million), but the profits of Barclays makes in African Countries mean that the units are too expensive for Absa
From the Blogs
– Local TV leader KTN follows NTV by expanding into Uganda
– Just how free is free secondary education?
– Inflation update: One common item I missed in inflation tracker is Chips (French fries). They are a popular Nairobi meal that’s cheap, and filling, often goes well with a ¼ chicken from Kenchic. But the price of chips has shot up in the post election period – from 20- 30 shillings ($0.4) for a pack/plate, to abut Kshs. 50 – 60 ($0.85) at the same Kenchic joints. The price of cooking oil has also gone up by about 30 – 40% in supermarkets – which may be contribute, as would the availability of potatoes which were produced in clash-hit areas.