1. Yes it’s Wednesday
2. this is the final post for 2008
3. Happy New Year
4. Welcome first time readers searching online for primary school exam (KCPE) results. This is a blog on finance and investment issues in Kenya mainly
5. stories you may have missed in December 2008
– National Oil Corporation NOCK will borrow $65 million from French Bank PNB Paribas
– Triton Petrol (now under receivership) has left several local and international banks exposed to bad loans. They were also partners of Reliance (India) in the second national Operator contract
– From January 2009 Kenyans can buy government bonds and bills for just Kshs. 100,000 (~$1,300) through the Central bank of Kenya. The next bill auctions are on 5th January for bills while bond are on 26th January. one must open a CDS account with the CBK (currently they hold 4,222 accounts that trade in GoK securities) more details here
– The CBK also released a report on commercial banks readiness and compliances with Basel II requirements
– New branches Banks opening new branches in December were National bank of Kenya (Kakamega, Eldoret airport, Embu, Ongata rongai), Bank of Baroda (Nakuru) and CFC Stanbic (Kisumu, Westlands – Westgate)
– Dyer & Blair Investment Bank will arrange a fund raising plan for TransCentury, one of Kenya’s leading Private Equity firms
– Standard Chartered expected to roll out a mobile banking platform in 2009 in Kenya for funds transfer, utility payments etc. (already operational in Uganda)
– Uchumi made a payment to debenture holders in December, can it re-list at the Nairobi stock exchange in 2009?
– Co-Op Bank shares began trading at the NSE – but mini bounce on day one was not sustainable
from the blogs
– Kshs. 2.5 billion worth of Equity shares trade hands in a surprisingtrade yesterday
– NIC Kenya’s leader in asset finance, but more retail and corporate has ventured into Tanzania acquiring 51% of S&F Bank – more here
– Want to buy goods online, but you don’t have a credit card – read up on Afripay – a local company that offers that service in Nairobi
– Why is it so hard for foreign (German) companies to invest in Tanzania?
– While Pirate terrorize the east African Coastline, what should be Kenya’s flagship navy vessel is rotting away in Europe.