IMF on Kenya
The International Monetary Fund (IMF) will only support drought operations in Kenya until their next review of country operations at the end of April.

Report corruption online
At the new Kenya Anti Corruption Commission KACC website. The launch was graced by Parliament Speaker, Francis Ole Kaparo, whose office is not so not so enthusiastic about websites.

Barclays improves
Barclays has joined the growing list of progressive banks by installing an ATM that accepts cash & cheque deposits at its Queensway House Branch. Many more are sure to follow.

More 2005 banks
I&M (No. 10). Loans and customer deposits increased by over 3 billion to 11b and 14.8b respectively. The Bank also increased its share capital by 500m during year.

Housing Finance (No. 14) reduced government securities from 1,346m to 796m while loans were flat at 6.5b. Profit before tax was also the same at around 100m.

Baroda (No. 15) loans increased from 2.7b to 3.4b while customer deposits also increased from 7.1b to 8b. However paying higher interest on customer deposits resulted in profit before tax dipping from 274m to 238m.

Bank of India (No. 17) Loans increased by 700m, deposits by 800m, and profit before tax increased from 73m to 80m.

Fina (No. 19) which has a significant Rwanda operation bounced back from a 2004 loss of 51m to a 2005 profit of 95m largely from reduced provision for bad debts.

Giro (No. 21) which was acquired in September by the State Bank of India went from an 04 profit of 14m to a loss of 6m in 2005 largely due to increased operating expenses.

Southern Credit (No. 26) the credit card powerhouse increased deposits by 500m to 3.6b. But paying higher interest on deposits and increased operating expenses halved profits from 61m to 31m.

Victoria (No. 27) customer deposits and placements were each up by 500m to 5.58b and 1.56b respectively. While fee income was flat, profit before tax increased from 45m to 124m largely from increased interest income.

Habib (No. 32) bank (not to be confused with the other Habib AG Zurich) posted a reduced profit of 21m, down from 94m, owing to increased interest on deposits and provision for bad debts.

Consolidated (No. 33) reduced their ’04 loss from 90m to 13m in 2005. While staff costs increased from 150m to 195m, they were able to contain other operating expenses.

Fidelity (No. 37) improved from a ’04 profit of 1m to a 23m in 2005 owing to increased fee and commission income and reduced provisions for bad debts.

Paramount Universal (No. 39) loans increased from 758m to 892m and profit also went up from 12 to 16m.

Other Developments

Tax war
Between the United Business Association and the Kenya Revenue Authority over the issue of electronic tax registers

Tourism
The 2006 tourism expo targeting the low season kicks off at the Sarit Center on March 31.

Solar for tourists: Mombasa beach hotel is seeking a solar-based water heating system (deadline is April 28).

Jobs

British American tobacco
– Accounts assistants
– Trainee technical operators
Apply by April 12 to hr_batkenya@bat.com

CFC Bank
– Communications/network engineer
– Database administrator
– Software engineer
Apply to the senior manager HR P O Box 72833-00200 Nairobi by April 10

East African Breweries
– Demand planning manager
– Field logistic coordinators
Apply by April 12 to hrrecruitment@eabl.com

East African Standard
– Head of ICT services
– Head of HR services
Apply to pa-gceo@eastandard.net by April 10

Research & development manager at an investment bank. Apply to fke@wananchi.com by April 12.

Manager customs & excise at Pricewaterhousecoopers. apply to recruitment.ke@ke.pwc.com by April 13

Various jobs at the Kenya Meat Commission which plans to resume operations in June ’06.
– Apply to the Federation of Kenya employers at fke@wananchi.com for production manager, quality control manager livestock manager, internal auditor, HR & admin manager and finance manager positions.
– Former employees under 55 years who were in following departments – technicians, production, machine operators meat cutters, and packers are invited to apply to kenyameatcom@africaonline.com.