Category Archives: news

BHM 2014 Launch

ABC Bank launches 2014 edition of Baringo Half Marathon- 25th September, 2014

The ABC Bank Baringo Half Marathon 2014 edition will take place on 1st November. The race, themed ‘Developing Athletic Talent’ is an exciting strategy that seeks to nurture and promote young sporting talent.

Speaking at the launch event, Baringo County Governor, H.E. Benjamin Cheboi emphasized the importance of nurturing upcoming athletes through locally sponsored initiatives such as the ABC Bank Baringo Half Marathon.

“My government is equally committed to supporting not only athletics but other sports as well, as a way of encouraging our youth to pursue sports as a viable career option.” Governor Cheboi said.

This initiative provides an opportunity for every athlete to perform at their best through continued practice and race opportunities through which they can gauge their performance levels. The organizers have this year involved and worked closely with the Baringo County Government and other local leaders to enhance community participation and ownership of the event.

“Besides being a lucrative source of income, sports keeps the youth constructively engaged, thus keeping them away from destructive or unlawful activities. It is also a useful vehicle for bringing people together hence contributing to society building and promoting peaceful co-existence among different communities,” he reiterated.

Moreover, Governor Cheboi noted that increased awareness and uptake of athletics and distance running will continue to increase entries and sponsorships, and promote socio-economic growth in the county of Baringo and beyond.

The Paul Tergat Foundation Chairman and Patron of the Baringo Half Marathon, Mr. Paul Tergat called on both elite and budding athletes to register for the marathon to battle it out for the attractive prizes on offer. The upcoming athletes will have the opportunity to have their talent identified, and possibly picked for the athletes’ development program.

A key highlight of this year’s event is the introduction of a schools-only category in which participants will compete in the 6 kilometer cross-country race.

“A school is free to register as many teams as possible.  This will give our young people in schools from across the country an opportunity to showcase their athletic talent as the cross country season kicks off,” he noted.

He thanked the county government, local leaders and area residents for supporting the marathon, and appealed for more support for such initiatives such as the marathon, which also attracts and promotes sports tourism.

“This is why sports by far remain as the most effective platform for social and economic transformation. We must embrace and invest in it,” he added.

ABC Bank Group Managing Director, Mr. Shamaz Savani said the half marathon also seeks to boost the image of the sport to upcoming talent and the general public.

“As the title sponsor, we have increased the sponsorship kitty to Ksh. 10 million from Ksh. 5 million last year. This kitty will be used to host the marathon as well as run the athletes’ development program following the marathon. Additionally, we have increased the total prize purse to Ksh. 3 million with the first prize being 300,000 shillings each for men and women in the 21 km category. We have introduced a Schools Category, which will be the key highlight of the marathon, with prizes for both schools and winning students,” he said.

During last year’s ABC Bank Baringo Half Marathon, the organizers identified a batch of 12 upcoming athletes to join the athletes’ development program sponsored by the bank. They have undergone intensive professional training in reputable training camps to prepare for not only the Baringo Half marathon but also for other local and international races. They have also received life skills training in key areas such as personal finance and investments, handling media and public speaking, anti-doping policies and managing sponsorship contracts.

Alfred Barkach, one of the ABC Bank-sponsored athletes, won the 10,000 metres race at the recently concluded East African Secondary Schools Games held in Dar es Salaam, Tanzania. His success is testament to the fact that nurturing talent will produce more champions for this country.

Some of the mentors who have offered a helping hand to the budding athletes through the athletes’ development program include: world marathon record holder Wilson Kipsang, former Olympic 800 meters champion Wilfred Bungei and US-based Kenyan distance runner Betsy Saina.

International athletes from Ethiopia and other East African countries have also been invited to headline the event and to increase the participation bracket beyond the country’s national borders as a model of building and nurturing talent.

‘’We have once again invited athletes from Ethiopia and other East African Countries to headline the event. Besides increasing the stature of the event, their presence here will also enhance its competitiveness. In return, we will be reciprocating with athletes from our half marathon participating in the Great Ethiopian Run later in November’’, noted Mr. Shamaz.

Kisumu golf day

ABC Bank hosts inaugural Kisumu golf day- 20th September, 2014

Golfers in Kisumu flocked to the Nyanza Club with their caddies in tow, for the ABC Bank-sponsored golf tournament. Dubbed ‘Swing into Action’ the tournament was part of the bank’s ongoing customer engagement plans.

It was the first time the tournament was hosted in Kisumu. Earlier in April, we had hosted a similar tourney in Eldoret. Our main objective is to use these tournaments to interact with, and listen to our customers as well as meet new ones. We will continue to host such events across the country.

KU

ABC Bank partners with Kenyatta University to support young innovators- 16th September 2014

ABC Bank joined hands with Kenyatta University by donating Ksh. 250,000 to support inventive students to realize their entrepreneurial potential. The university, through its Chandaria Business Innovation Incubation Centre, nurtures students with innovative ideas to transform them to viable enterprises.

Speaking when he presented the cheque to Kenyatta University Vice Chancellor, Professor Olive Mugenda, ABC Bank’s General Manager, Group Business Development, Peter Kinyanjui underscored the importance of partnerships between corporates and institutions of higher learning, saying this would spur the improvement of educational standards in the country.

On her part, Professor Mugenda hailed ABC Bank for being the first bank to support the incubation program.

The donation is part of ABC Bank’s CSR strategy to help the youth to discover and develop their talent. The Innovation Incubation Centre recently organized an investors’ confidence to give students under the program an opportunity to show case their ideas and to link them with potential investors.

Postbank partnership

ABC Bank and Postbank to provide cheque clearing solution – 24th June 2014.

Over two million Postbank customers can now access cheque books and process cheque payments through ABC Bank following the signing of a deal between the two banks.

The new solution will be available through the Postbank Cheque Account, which will enable Postbank customers obtain cheque books and process their cheques through ABC Bank’s clearing house. This will not only provide these customers with an important payment instrument that will help streamline their business transactions but will also help Postbank introduce the culture of savings to other market segments.

“The launch of this solution means much more to us than just a new product; it means a new solution, more opportunities and more possibilities for us and for Postbank. Postbank customers will now have the added benefit of getting cheques books, an important tool in business transactions”, said Postbank MD Dr Nyambura Koigi.

Postbank has not been issuing cheque books because it was established as a savings bank. However, through the partnership with ABC Bank it can now offer cheque clearing solution as an additional service to its customers.

ABC Bank has also launched an agency banking channel with Postbank as its agent in a bid to deepen its reach and enhance ease of access to services to its customers countrywide. The partnership will allow ABC Bank customers across the country to withdraw and deposit cash to their ABC Bank accounts through Postbank 99 outlets countrywide.

“This partnership is crucial for ABC Bank as it is key in the strategic direction we have been pursuing for the last couple of years. It reinforces our determination to increase and improve our channels to provide more touch points for our customers to access our services”, said Mr. Savani, adding that the partnership is part of the bank’s growth and expansion plans.

ABC Bank will utilize 99 of Postbank’s outlets across the country to offer its customers normal banking services such as cash deposits and withdrawals, and balance enquiry. In addition, the deal will enable ABC Bank reach new customers and increase product penetration and uptake.

About ABC Bank ABC Bank is a locally incorporated bank which has carved a special niche in providing focused services and solutions for mid to large size corporate firms, facilitating its business customers through innovative business solutions and emphasizing its main strengths in asset finance, trade finance and international/local remittance solutions. In addition to these markets, the bank has introduced a variety of personal banking solutions that have created an all rounded platform for individuals to transact with the bank.

Kerussu

ABC Bank supports rural saccos -26th May 2014

ABC Bank has sponsored the Annual Conference for the Kenya Rural Savings & Credit Co-operative Societies Union Ltd (KERUSSU).

Kerussu is the umbrella cooperative organisation for rural Saccos. It brings together 53 rural Saccos with a membership of over 1.5 million where the members’ key source of income is tea, coffee and horticulture.

The bank continues to support and empower SACCOs for them to deliver more services to customers. We see SACCOs as partners and not as competitors.

Golden Hands

ABC Bank eyes strategic partnerships to expand regionally- 26th May 2014

26th, May 2014: ABC Bank Group MD Shamaz Savani featured in a special pull out-in the Business Daily- profiling chief executives who have turned around the performance of their organizations and market segments.

Click here to read the full article…

African Banking Corporation (ABC) Group is eyeing more strategic partnerships to cement its leadership position in supporting SMEs in the region. The Group is also banking on such partnerships to deliver more new products, quicker and at lower prices. This has made collaborative business arrangements a winning formula for ABC Bank whose success story is formed in part by several such agreements.

”For instance, in 2012 we partnered with the European Investment Bank to enable us to lend to our customers for longer tenures and at better rates,” Mr. Savani discloses.

Click here to read the full article…

Banking Awards 2014

ABC Bank is 2nd best bank in Internet Banking- 30th April 2014

ABC Bank has added another feather to its cap by emerging 2nd in the Best Bank in Internet Banking in this year’s Think Business Banking Awards.

“This award is especially meaningful for the Bank, as it is a validation of the strategic direction we chose two years ago. It reinforces our resolve to increase and improve our channels to provide more touch points for our customers to access our services.” says ABC Bank Group Managing Director Shamaz Savani.

Savani adds: we understand that online banking is no longer the future of banking; it is the way to bank. This win demonstrates our commitment to excellence and innovation to align ourselves with emerging trends in service delivery in line with our culture of professionalism and customer-centricity,”

ABC Bank this year upgraded its Internet Banking platform to 2nd Level Authentication to assure customers security of their accounts and online transactions. 2nd Level Authentication is currently the most secure online banking system available in the market, is user friendly, and offers increased functionality to customers, including allowing them to carry out transactions in real time.

The 2nd Level Authentication is an enhanced security feature for internet banking to protect clients from any possible fraudulent activities on the web. A customer will now be required to key in a Transaction Authentication Number (TAN) before carrying out any Payment/Transfer instructions online.

To sustain business competitiveness, it is imperative to shift from the traditional approach of bricks-and-mortar into a clicks-and-mortar, added Savani, noting that adoption of technology has now become an essential measure of efficiency and success of any business.

Through its free-of-charge internet banking, ABC Bank customers can now access their accounts and perform online transactions without visiting a banking hall, making it very easy and convenient for customers to manage their bank accounts.

ABC Bank-sponsored students visit- 28th April 2014

Two students sponsored by ABC Bank, Walter Okombo (St. Mary’s School Yala) and Marygoretti Atieno (Moi Girls High School – Eldoret) visited the bank in April to meet and greet their sponsor as well as receive guidance and mentorship from the bank staff.

The two form three students were taken on a tour of the bank and met various employees who spent time advising them on career choices and life skills. Their visit culminated with a meeting with the Group Managing Director Shamaz Savani. S

hamaz advised the two to be all-round while at the same time giving special attention to their studies. The students expressed their gratitude to the bank sponsoring them, and for the exposure they got during the visit.

They also declared their commitment to excel in their studies as their ultimate show of gratitude to the bank. The bank has fully sponsored the two for their school fees and upkeep as part of it’s corporate social responsibility.

DAL showcases posh homes in Juja- 26th April 2014

Developing Afrika Ltd (DAL) held its open day on Saturday, 26th April 2014 to show case their new houses in Juja South Estate. DAL used the opportunity to get interested buyers to book for the houses in phase one of the project, which are nearly complete. ABC Bank is the mortgage finance partner for the project.

Speaking during the well attended open day, DAL CEO Patricia Githu said they intend to put up 257 units in two phases. Phase one of the development comprises of 112 units: 70 two bedroom apartments, three bedroom penthouses, three and four bedroom town houses. The gated community complex sits on a 30 acre piece of land situated half way between Nairobi and Thika town. Sitting on an eighth of an acre, each unit has a spacious servant quarter and a state-of-the-art waste management system (bio-digester) that automatically recycles all household liquid waste.

Once complete, the housing complex will have a commercial centre, a school, swimming pool, club house and borehole as an alternative water source. Patricia said about 54 percent of the Juja South Estate project had been sold out, and that DAL intends to roll out other projects faster to take advantage of the ever-rising housing demand in the country. The location provides a wide panoramic view across the expansive plain stretch of land overlooking the Kilimambogo Hills on the East and Ngong Hills at a distance on the West.

This offers a spectacular view of sunrise and a breathtaking sun downer. The environment is simply serene and welcoming, away from the hustle and bustle of the city, and enjoys a soothing fresh air breeze all day, ideal for both working and relaxation. The estate is easily accessible via the Eastern bypass from Mombasa Road and JKIA, as well as the Thika Superhighway from both Nairobi and Thika Besides real estate, DAL also has interests in project and property management, leasing, joint ventures and trade finance.

ABC-Iten

ABC Bank gives budding athletes Kes 0.5 million-6th April 2014

Budding athletes in Iten received a boost from ABC Bank in support of their training. This is part of the bank’s community relations strategy that is expected to nurture more young talented sportsmen and women in various disciplines to become world champions.

‘We are committed to supporting young talent in athletics and other sports disciplines so that this country continues to produce world champions” said ABC Bank Group CEO Sridhar Natarajan when presented the cheque to the Paul Tergat Foundation. The athletes were picked for intense training in various training camps in Iten after they posted impressive performances in the ABCBank-sponsored Baringo Half Marathon last year.