Author: David Indeje

GTBank Kenya, a subsidiary of the Nigerian Guaranty Trust Bank Plc opened a new branch in Nakuru. The new branch, located at Polo Center, Kenyatta Avenue, raised its network to 9 in addition to those in Nairobi, Nanyuki, Mombasa, and Thika. GTBank Kenya’s Managing Director, Mr. Olabayo Veracruzsaid the opening the branch was a strategic move that will act as a gateway to tap into the vast investment opportunities found in the region. “Opening of the new branch epitomizes the Bank’s growth strategy of spreading its footprint to various regions in the country, bringing accessibility of the Bank’s niche products…

Regional lender KCB Bank has commenced payment of funds to remaining eligible depositors of Imperial Bank Limited (in receivership) (IBLIR) in the current tranche of disbursements. In a statement, KCB said the exercise will see IBLIR depositors get partial access to their bank balances estimated at Ksh.3.2 billion to be paid over a period of four years.  This is equivalent to the total assets acquired by KCB over the period. Currently, 93 percent of eligible depositors have been fully paid. On May 22, 2020, the Central Bank of Kenya (CBK) announced the acquisition of assets valued at KSh3.2 billion and…

This year’s admission is the largest single-year cohort 633 scholars have so far gained admission to global universities under the ELP Equity bank through its Equity Leadership Program (ELP) is offering USD 18,856,327 (Ksh 2 billion) scholarships to 92 scholars to global universities. Making the announcement, Equity says they comprise Wings to Fly alumni beneficiaries as well as those who topped the 2019 Kenya Certificate of Secondary Education. They will join forty-three (43) institutions across five continents in different countries including the United States, Canada, Germany, Hungary, Turkey, Costa Rica, the United Kingdom, United Arab Emirates, Ghana, Mauritius, Rwanda and…

The Kenyan High Court High Court on Thursday allowed Brookhouse School to charge 100 percent of full virtual learning fees for children. The matter relates to a petition from parents seeking to have a 30 percent waiver from the fee schedule issued to them. According to Justice Weldon Korir, it is the market that dictates the cost of a product or service. “It is noted that the studies offered by the school are pegged on an international system of education which had not been suspended at the time the Kenyan schools were closed. The school had a contractual obligation to…

Kenya’s services activity continued to pick up pace in August with output and new orders rising solidly, but continued to contract as firms reported job losses, according to a private survey. “Sentiment improved for the first time since February, but remained relatively weak,” the IHS Markit Services PMI said on Thursday recording a second straight month of growth in the Kenyan private sector, with output and new orders rising as the economy gradually opens up. The Purchasing Managers Index (PMI) fell to 53 in August 2020 from 54.2 in July.  Despite falling from 54.2 in July, the index suggested that…

“Poacher” a Kenyan/British short film directed by Tom Whitworth will debut on Netflix on September 30. “It’s been a 4-year journey and we are enormously proud to announce the launch of ‘Poacher’, our short award-winning Kenyan crime thriller, exclusively available on Netflix from 30th September,” Tom Whitworth wrote. https://twitter.com/kenyafilmcomm/status/1301409213483278338?s=20 The 28-minute short film is based on the human cost of those involved in conservation. Shot in Tsavo National Park, Poacher tells the story of Mutua, a desperate farmer who runs into trouble after he steals a stash of blood ivory from a gang of international terrorists.  The cast in the…