Monthly Archives: January 2006

Progressive Banking

Progressive ATM’s
One way of beating the long queues and over-the-counter fees at banks is by operating an account at a bank whose ATM’s enable customers to perform all the basic bank transactions – (i) make withdrawals, (ii) check balances (iii) place deposits and (iv) make transfers – at ATM’s, preferably at no extra charge.

These Bank ATM’s allow deposits
– CFC
– Diamond Trust
– Equity Bank
– National Bank of Kenya
– NIC aka MOVE
– Standard Bank (Stanbic)
– Standard Chartered

ATM’s don’t accept deposits
– Barclays
– Co-operative Bank
– Kenya Commercial Bank
– Kenswitch network (EABS, CBA, Consolidated, I&M, Transnational, others)
– Pesa Point network (various banks)

Schools’ footnotes
– In January, some of the most popular/in demand people to know are school headteachers, teachers, members of school’s board of governors and other educationists – who are all called upon by thousands of parents seeking to place their children in coveted and affordable schools.

– Also, girls in Kenya have a huge advantage over boys after sucessfully completing their primary school education. This is because high schools for girls have for many years received an inordinate amount of support (financial, buildings, other) compared to high schools for boys. As a result, girls who pass their standard 8 exams have many more national and quality high schools to choose from compared to boys.

Tuju Da Vinci

No credit?

It seems former communications minister Raphael Tuju forgot/neglected to gazette the merry-go-round appointments of Sammy Kirui (CCK Director-General to Telkom Kenya MD) and John Waweru (Telkom Kenya MD to CCK DG). Their appointments have now been sambazed in by the new information and communications minister, Mutahi Kagwe, seven months later.

What’s the word

I am finally reading the Da Vinci Code, by Dan Brown, which appears on most peoples favourite book lists. So far it’s a great story and I am now around the part that takes place in a Swiss bank vault in Paris and has a mysterious funds transfer from the Vatican Bank.

The story reminded me of a book I read many years ago – The Word, by Irving Wallace, which was about the search for a mysterious scroll purported to be a first-hand account of the life of Jesus Christ (including his missing years from age 12 – 30) that was written by his brother James.

Shares, veges and boxing

Share-woe-lder

The number of complaints about stockbrokers continue to pile up, and while they are not serious enough to warrant official complaints to the CMA (E-mail: compliance@nse.co.ke), they cause great distress to shareholders. some examples; buy/sell orders are not executed on time, orders are forgotten, cheques are not processed on time, shares are sold without orders, shares are not immobilized for months, shareholders are not told about what/when to buy/sell shares etc. Even if one were to switch accounts and join one of the better brokers, the treatment would not be better.

I have found that the best way to avoid some of these frustrations is to insist on having a personal account manager at the stockbrokers’ office – who will handle all your personal share matters – one who you can call/e-mail about orders, payments, settlements, share advice etc. Otherwise shareholder frustrations will continue….

veg-inflation

yuck


On Friday I want to have the usual fried fish lunch at my favourite eating house, only to be served cabbage instead of the usual greens along with the meal. I haven’t liked cabbage since high school where I had endured four years of bland servings of it, and when I talked to the owner, she agreed with me completely – cabbage sucks! But it’s all she can afford now that the price of sukuma wiki (greens) has shot up from 300 to about 2,000 shillings a sack, while green leaves now go for around 25 shillings a bunch, up from 5 a few months ago. And while the price of cabbage has also gone up, it will continue to be served until the drought and supply of green vegetable situation in Nairobi changes – hopefully in the near future.

needs an air ticket



Congestina Achieng is an inspiring fighter, who talks tough and backs up her talk accurately with her fists. But I fear that, like many other Kenyan athletes, bad/poor management is going to curtial her promising career. Her decisions to take part in “world championship fights” here in Nairobi that are arranged by her management, while being an enjoyable treat to her fans, are not the best way for her to set up her dream title match against Laila Ali. There’s no way Laila Ali will come to fight in Nairobi – where boxing matches are delayed for hours over fees, where managers fleece fans and boxers, where venues and opponents are changed at the last minute, and where fans throw debris into the ring to celebrate a knockdown. If Congestina truly wants to cement her reputation as a world champion, she needs to fly to to Asia, Europe, South America and eventually the USA – to take on their best fighters and champions, and knock them out.

Others bits

  • Safaricom has introduced Bamba50 – a 50 shilling credit voucher, matching Celtel’s lowest credit voucher.
  • High Point Hotel in Lower (upper) Hill (owned by Joe Wanjui) is expanding to take advantage of the resurgent business in the sector.
  • Hunting of animals could soon resume in Kenya according to wildlife officials. (Also a pro-hunting opinion piece)

Positive side of Friday the 13th

Bank Jobs

Consolidated Bank
– Head of operations: applicants must have 8 years banking experience with at least 4 at senior management level, in addition to possessing a business degree and professional banking qualification.
– Branch manager: applicant to have business degree and at least 5 years banking experience.
Apply to the head of human resources P O Box 51133-00200 Nairobi by January 31.

EABS Bank
– Chief financial officer: applicants must be qualified CPA who is members of ICPAK and with 3 to 5 years banking experience.
– Chief internal auditor: applicants must be qualified CPA who are members of ICPAK and with 3 to 5 years banking experience.
– Head of ICT: applicants should have an IS degree, 3 – 5 years banking experience and extensive experience with Equinox software.
Apply to the executive director – development, EABS Bank P O Box 47499-00100 Nairobi by January 31.

K-Rep Bank
– senior finance manager: applicants to have master’s business degree and be age 32 – 40. Also be certified financial analysts with CPA (k) or ACCA and with 8 years experience at a financial institution or bank, 3 at senior level.
– branch managers: applicants must be graduates, aged 32 – 40 with at least 5 years banking experience, 2 at senior level.
– advances manager: applicants to have business degree, be age 30 – 35 and with five year advance or loans experience or 2 as a manger. Apply to jobs2006jan@k-repbank.com by January 17.

World Bank
– Education specialist: Applicants must have 10 years experience in education or human development.
– Executive assistant to the country director: Applicants must have 7 years relevant experience.
Apply to the country director, WB – Kenya, P. O. Box 30577-00100 Nairobi by January 31.

Other Jobs

Celtel
– Oracle financial systems analyst & support coordinator – ref FIN-SYS-01/06: applicants must have accounts degree with ACCA/CPA/CIMA certification, plus IT qualification and two years experience in computerized accounting.
– Systems & procedures coordinator – ref FIN-SYS-02/06: applicants must have accounts degree with ACCA/CPA/CIMA qualification plus IT qualification and two years experience in ERP environment.
– Procurement manager ref FIN-PRO-03/06: applicants to have business degree, 5 years procurement experience and members of the chartered institute of purchases and supplies.
Apply to the human resource director Celtel Kenya at hr@ke.celtel.com by January 20

– World Vision
Grants manager: applicants to have business degree with certificate in grants management and at least 3 years relevant experience preferably with USAID grants. Apply to recruit_Kenya@wvi.org by 20 January.

Opportunities

Investment
Zimele asset management is a co-operative with blue-chip management that allows investors to invest in equity, offshore, or money market portfolios for as little as 5,000 shillings – unlike other investment funds whose minumum investment amounts are usually over 100,000 shillings.

Scholarships
– The African Studies Centre, Oxford University, is offering a single full scholarship for the academic year 2006-7 for study on the MSc in African Studies. Details can be obtained by email from african.studies@sant.ox.ac.uk and the deadline for applications is 15 February.

– The Palmhouse Foundation finances secondary education for deserving students who have have gained admission to one of the 17 national schools and who have no other means of getting funds for fees. Kennya Commercial Bank supports the foundation.

– The Jomo Kenyatta foundation is also offering limited scholarships that will finance the high school education of orphaned or destitute children who apply by 30 January. Enquiries can be directed to sales@jomokenyattaf.com

Medical
AAR Health Services is seeking to establish franchises for out patient services in Thika, Eldoret, Meru, and Nyeri. Applicants should be doctors with 7 years practicing experience who own or lease secure premises in town centres on the ground floor with ample parking in these towns. They must be able to pay a fee of 500,000 if approved and be prepared to start operations immediately thereafter. Apply to the general manager AAR Health P O Box 41766-00100 Nairobi by 30th January.

Sports
Saturday 14 January
7:30 a.m. Pakistan vs. India 1st Test Day 2
3: 15 p.m. Man City vs. Man Utd
5:45 p.m. Liverpool vs. Tottenham & Portsmouth vs. Everton & Arsenal vs. Boro
8 p.m. Blackburn vs. Bolton
11:45 p.m. Valencia vs. Osasuna

Sunday 15 January
6 a.m. Australia vs. SA 2nd ODI
7: 30 a.m. Pakistan vs. India 1st Test Day 3
4 p.m. Wigan Athletic vs. West Brom
7 p.m. Sunderland vs. Chelsea
10:45 p.m. Real Madrid vs. Sevilla

Next
16/1 Australian Open starts
20/1 Africa Cup of Nations starts
22/1 Man Utd vs. Liverpool

Excess & jobs

Frivolous bank charge
Two weeks ago I wrote about the hour it took to deposit money into a Standard Chartered bank – with most of the delay being caused as tellers had to count out thousand of shilling notes by hand. And in a follow up today, the bank charged me 180 shillings ($2.45). For what? The wasted hour I spent there?

Jobs
NMB Tanzania
At the National Micro finance Bank of Tanzania
– Manager treasury MT/05
– Zonal manager ZM/05
– Manager, public relations MPR/05
– Manager, employee relations MER/05
Apply through KPMG Kenya’s executive selection division esd@kpmg.co.ke by January 26.

independent financial advisors
At inter alliance international, one of the largest independent stockbrokers in the world and who are licensed as financial advisors in Kenyan and Uganda where they are expanding their offices, in addition to opening a new branch in Tanzania. Apply at africa@recruitsoffshore.com.

Tax auditors
At the Kenya Revenue Authority. Applicants must have a business degree, qualification in taxation, be members of ICPAK and have at least 3 years audit experience, preferably computer systems-related. Apply to the senior deputy commissioner, human resources, KRA P O Box 48240-00100 Nairobi by 27th January.