Category Archives: IFC

February 3

Jobs

Oriental commercial bank: (formerly Delphis)
– Branch managers
– Head of finance
– Head of internal audit
– Head of technical services
– Head of treasury, foreign exchange, and international banking
– Deputy general manager
Apply through the executive selection division of HLB Zainash Consulting at consult@ashvir.com by February 7

K-Rep Bank
– bank clerks
– business development officers

KADET: The Kenya agency for development of enterprises & technology (KADET) a world vision international subsidiary
– Audit assistant
– Accounts assistant
Apply to kadetrecruit@wvi.org by February 8

UNDP/GOK: public sector reform/development secretariat
– Program coordinator: transformational leadership ethics and values
– Technical coordinator: information and communications
– Program officer: transformational leadership ethics and values
Apply though inmail.kenya@undp.org by February 6

Caritas
– Finance & Administration officer at Caritas, a Roman Catholic aid agency, who will be based in Nairobi, with frequent travel to Sudan and Somaliland. Apply through jobs@caritas-switzerland.org by 12 February

Millennium Villages Project MVP of the World Agroforestry Centre (ICRAF) – based in Kisumu
– Project Manager
– Operations Manager
– Agricultural Coordinator
– Health Coordinator
– Infrastructure Coordinator
– Community Development Coordinator
– Enterprise Coordinator
Apply via icrafhru@cgiar.org by 15 February.

HLSP
HLSP is an international organisation working to improve world health with opportunities in Nairobi
– Business Manager
– Project Officer

Symphony a leading regional IT company
– channel manager
– sales executive
– products & procurement manager
– admin assistant
– senior accountant
– accounts assistant
– system engineer
apply though hrd@symphony.co.ke by 10 February.

Bank News

– IFC will set up a regional credit reference bureau in Nairobi to serve Kenya Uganda Tanzania Rwanda and Burundi.
– CFC will launch a credit card this year.
– Consolidated Bank has added on ATM’s (Kenswitch networked) in Isiolo, Nyeri and Maua.

Corporate News

Half-year corporate results as at December 31

Mumias Sugar: Six-month revenue increased from 6.39 to 6.92 billion shillings despite selling 5% sell sugar and generating 50% less cash. After tax-profit rose from 567m to 774m and the company will pay an interim dividend of .75 per share (last year was .6) to shareholders on March 27

East African Portland: Turnover at the cement company increased from 2.59m to 3.11 billion shillings and after tax profit increased from 252m to 594m shillings. The company will pay an interim divided of 1.3sh per share on March 31. The company’s performance was assisted by the strong shilling versus the Yen in which the bank is servicing a huge loan.

Unga: Turnover was flat – 3.79 billion shillings ( 3.74b in 04) and after tax profit is still low, but increased from 34 to 73 million in the half year.

Sports
Saturday 04 February
3:30 PM AFCON:: QF 3: Nigeria vs Tunisia
4:15 PM 6 Nations:: Ireland vs Italy
5:30 PM Everton vs Man City & SS6 Birmingham vs Arsenal
6:30 PM 6 Nations:: England vs Wales
7:30 PM AFCON:: QF 4: Cameroon vs Ivory Coast
8:00 PM Man Utd vs Fulham
8:15 PM Indoor GP: Stuttgart, Germany
10:15 PM Real Madrid vs Espanol

Sunday 05 February
4:00 PM Tottenham vs Charlton
5:45 PM 6 Nations:: Scotland vs France
6:30 PM Chelsea vs Liverpool

Monday 06 February
2:00 AM ESPN Superbowl XL: Seattle Seahawks vs. Pittsburgh Steelers
7:15 AM Pakistan vs India 1st ODI

IFC (World Bank) Aid to Kenyan Banks

Barclays to fund SME’s
Th International Finance Corporations (IFC) will provide a loan Barclays Kenya of up to $20 million (Kshs 1.6 billion), the proceeds from the Loan will be used primarily to fund medium sized corporates which are in need of US$-denominated funding, and will free up the Bank’s local currency resources for on-lending to smaller corporates.

I&M Bank to fund trade finance
IFC will provide a loan to Investments and Mortgages Bank (I&M Bank) of up to $5 million to support the bank’s growing SME client base and export-oriented segment in Kenya. IFC will also consider providing I&M with equity of up to $2 million (Kshs.160 million) to shore up the bank’s core capital.

Barclays to fund solar energy projects
Barclays Bank of Kenya plans to offer loans to Savings and Credit Cooperatives (SACCOs), which are members of Kenya Union of Savings and Credit Co-operatives (KUSCCO). SACCOs provide financial services to a large section of the adult population in Kenya, and make loans to individuals who do not save with or borrow from mainstream banking institutions. SACCOs receiving loans under this project will provide “solar loans” to their members to purchase solar home systems to be installed by Solagen Ltd. and other leading Kenyan PV technical service providers. The total amount is estimated at $4,6 million (Kshs 368 million) and will be sourced from the IFC.

Kenya gets its 44th Bank

While donors feel that there are too many banks in this country, Equity is going to take a crack at the big four Banks that dominate the Kenyan banking scene.

Backed by 5 billion in assets and the muscle of IFC, Equity has already applied to the CMA to be listed on the Nairobi Stock Exchange, which should happen by mid 2005.