New Bank; Gulf African

Gulf African Bank has been licensed and will become Kenya’s 42nd bank.

While earlier billed as a Sharia only bank, it’s hard to see how that would have been sustainable and it now appears that the bank will also be open to non-Muslims. Mainstream banks like Barclays, KCB, I&M and Dubai already have shariah complaint products.

With a 1.75 billion capital base starts off around 14th largest bank largest bank. It has advertised for top jobs over the last several months with a view to becoming a regional powerhouse backed by its wealthy shareholders.

most from the daily papers this week

– Business analyst sub Saharan Africa – at BAT
– Alliance For A Green Revolution In Africa (AGRA): Director for Market Access Program, Program Officer for Market Access Program. Apply through KPMG
Electoral commission of Kenya : returning officer, assistant returning officers, trainer of trainers (but must be over 35 years for most jobs). D/L is 2/10
– Investment Officer at the IFC – Nairobi Kenya. D/L is 8/18
Kenya Airways: Database Architect, Head Of Corporate Security Services, Manager Materials Planning & Procurement, Team Leader Motor Transport
– Head of IT at the Nairobi stock exchange . Apply through Deloitte at (Ref HIT/09/07) by 28/9
National Museums of Kenya: marketing/PR manager, development manager (resource mobilization). Apply to
Safaricom: M-PESA New Business Sales Officer, M-PESA New Agent Sales Officer, CRM Support analyst, M-PESA Operations Officer
– Agribusiness specialist at USAID Kenya D/L is 21/9
USIU: senior research associate, webmaster. Apply to by 30/9

Real estate
– a 5 storey shopping mall in Eastleigh on sale for 150 million shillings ($2 million) from Lloyd Masika
– Have Man U star Rio Ferdinand as your neighbor by buying into this luxury complex in Uganda
– develop houses for USIU on 45acres in Athi river.

10 thoughts on “New Bank; Gulf African

  1. mwasjd

    So does having Rio Ferdinand as your ‘neighbour’ mean that the house is better, the neighbourhood classier or chances of freebies to Old Trafford higher? I saw that ad on East African and laughed at the creative nature of advertizing.

  2. we~a~do

    On a digression, what is it with name changes at KenCell/Celltel/Zain? I mean, a company that changes it’s name every two years doesn’t instill much confidence in me. This new one is so gross; it’d be interesting to imagine Kenyans saying “call me on my ZAIN line”! It maybe a clincher with Arabs, but I foresee a big flop in most of Africa. May Zain Virjee will become even a bigger celebrity 🙂 What says you?

  3. coldtusker

    we~a~do: Well… I do wish, I get a call from Zain V…
    “Hey its Zain, call me on Zain”

    For her I would call cross-network, cross-anything!

    (She might no be allowed to appear in ads but she would make a great icon/spokesperson for Zain)

  4. Anonymous

    Zain Virjee was an employee of KTN in late 90’s and early this decade but she is currently with the CNN group.

  5. Nelie

    Does sharia banking mean I can get lots of notes without paying interest? How do they make their money?
    On USIU looking for people to develop 45 acres – I highly doubt they would want to house their staff in Athi river – unless they are starting a new campus there – its Daystar.

  6. we~a~do

    lol@CT…I share your sentiments bro. She’s lovely, simple. She must never appear on “Zain” ads, lest I rebel 🙂 But still, what with Celtel and name changes? Kwani kambi imekuwa viatu za kina mama!!

    I want to make a prediction. Kencel/Celtel/Zain/or whatever mutations won’t survive to 2015 in Kenya.

  7. coldtusker

    we~a~do: They have the cash!!! They are expanding across Africa & putting in huge amounts of chumz.

    MTC (Zain owners) replaced all the debt of Kencell/Celtel (K) using their own funds.

    Safaricom is innovative lakini the market is growing for all the players…

    Ultimately, there will be a mega-merger with a global player!

  8. ME

    Bankelele, Kenyan Entrep, Cold Tusker, Kinoo, Maina, Sijui,Mwasjd,Harry …et al,

    Hope you’re all doing well.

    Dont know about you…but i’m really sick of this 8am-5pm rat race … its time to make the big bucks.

    I’m getting ready to form a forum on yahoo/gmail where we can share business ideas as well as contacts/network.

    For those of you who know me (CT, KE, Sijui)…i’m in the US and i have a couple of business ideas i want to throw out and ask for ur opinion.You can do the same.

    Once i set up the forum, I will send out invitations coz this will be an invitation-only forum.

    I will also invite some of my “like-minded” friends as well and you are welcome to do the same…subject to approval.

    Deal or No Deal ?

    (PS: This is a Kenyans-only Forum…..sue me!)

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