Friday the 13th, and almost a year after Equity Bank listed on the NSE should have capped off a great week for Equity Bank – except for some MP’s in Parliament and anonymous letter circulating on the web. More on possible impact on share price and a great defense of the Equity’s significance to the country’s business and investment scene – but BDAfrica should probably mention that their CEO is an Equity director, in the same way CNN anchors mention their connection to Time Warner each time they report on the company.
– Equity is usually the first bank to announce quarterly results and we can expect more great numbers in the weeks ahead for June 2007.
– Alongside shareholder Britak, Equity will take up a 24.9% stake in Housing Finance. But the banking Act discourages banks owning shares in other banks (merging is ok, shareholding is not)
– Going international, Equity is poised to expand again, opening branches in Rwanda and Uganda
– Equity bank customers will also be able to access their funds at Nakumatt stores starting next week
More bank happenings
ABC joins the flat fee account race with a Kisima account (priced at 495 shillings)
Barclays has partnered with Nakumatt stores to launch a credit card. Barclays also has a branch on River Road I hear – a sight to see!
What can the Central Bank do about the strengthening shilling? With appreciating currencies, see what India did to help their exporters and Uganda did to curb currency speculators.
Consolidated bank has introduced solid loop product for businesses pursuing contracts/tenders/LPO’s
EADB has a line of credit from EXIM India to finance importation of eligible goods from India into Kenya, Uganda or Tanzania
Family finance aka Equity Blue opens a branch in Kapsabet
CDC opts out of the Housing Finance rights issueleaving the door open for Equity Bank and Britak
KCB now opens branches every Saturday from 9 to 12. The days of banks only opening on the first & last Saturday of the month is now history, with most now open every Saturday with longer hours, even on Sundays.
As the Telkom privatization kicks off, will several banks opt to get paid or sit back and convert their debt into Safaricom shares?
other economic developments
– Tata chemical (majority own of Magadi soda) plans to build another soda ash factory at Lake Natron, Tanzania- a move being opposed by conservation groups
– A new School of the Nations in Kitisuru
– Lake Naivasha resort and spa
– The government plans to set up a radioactive waste processing facility on Karen!
– The National social security fund plans to complete an 11 storey parking complex on Ngong road. It’s about time someone did something to ease the parking shortage esp. for upper hill workers
Jobs – most from the daily papers this week
Chief financial officer at the Africa trade insurance agency . D/L is 22/7
Kenya capital markets authority: mangers [finance, corporate communication], assistant managers [financial analysis, enforcement,] officers [compliance (2), legal, surveillance, research] accountant, MIS systems analyst. Details at online and D/L is 25/7
Action research officer at decentralized financial services firstname.lastname@example.org by
Join the East African development bank Young processionals program. Apply to
email@example.com by 23/7
Business relationship manager at Equity bank. Apply to firstname.lastname@example.org by 20/7
First community bank: Financial controller, Managers (trade finance, internal audit, human resources, brand development, e-banking & cards, legal) Branch managers (Nairobi, Mombasa) Relationship managers (corporate banking), corporate credit analysts, retail credit analysts. Apply to email@example.com by 25/7
HLB Ashvir: partners or senior managers. Apply to firstname.lastname@example.org
Assistance credit manager at housing finance. Apply to email@example.com by 20/7
Kencall: trainee managers, head of HR, transcribers (50) and other positions. Apply online.
Apply online for project planner at Kenya airways
Kenya ICT board: Marketing manager, financial management specialist, procurement specialists. Apply through Deloitte at firstname.lastname@example.org by 27/7
Apply online for Financial analysts Kenya shares
Programme Manager for the Global Water Operators Partnership Alliance of UN-HABITAT . D/L is 4/8
General Manager at UUNET. Apply to email@example.com by 20/7
Independent financial adviser at Winton investments. Apply to firstname.lastname@example.org
CEO of the Youth enterprise development fund. Apply through Manpower associates by 25/7
– CMC aviation requires captains and first officers for dash 5 and dash 8
– Jetlink looking for captains and first officer for dc-9 aircraft