On 30th November, ABC Capital client, Nairobi Business Ventures Limited has listed an additional 415 Million shares completing its restructuring process and the onboarding of a new investor, Delta International (FZE).
Following the restructuring, Nairobi Business Ventures (NBV) will now focus on manufacturing, importing, and selling raw materials used by cement and steel processors and other companies in the infrastructure sector.
NBV says that with the infrastructure set to grow on the continent, there are opportunities to supply companies making end products such as cement and steel.
“Africa is the future of economic opportunities and NBV is committed to join the race with its contribution. We want to part of the Big Four agenda of the Kenyan Government also and our main focused sectors of activity shall be infrastructure,” said NBV Chairman Haresh Soni at firm’s bell ringing ceremony.
NBV has listed 415 million new shares on the Nairobi Securities Exchange (NSE) following a Ksh83 million investment by Dubai-based Delta International FZE in early November. The transaction advisers for the deal were ABC Capital, who was represented at the listing event by Group MD, ABC Bank and Group, Shamaz Savani.
Commenting on the restructuring, the NSE Chairman, Mr. Kiprono Kittony noted, the restructuring marks an important milestone for Nairobi Business Ventures Limited. The capital injection as well as the new business focus will play a significant role in reviving business operations as well as renew investor’s confidence in the prospects and future of the business”.
The investment also resulted in NBV getting a new board of directors.
NBV was first established as a leather products retail chain operating under the brand name “K Shoe” but has made the strategic decision to exit the retail businesses, which is facing numerous challenges. Instead NBV will enter venture into trade and the manufacturing of sustainable products used by companies in the infrastructure sector.
For many years, ABC Bank has provided educational sponsorship for vulnerable children at all academic levels. The Bank sponsored Mactarion Mwende, an orphan, who has been staying at Kayole Girls Street Children Rehabilitation Home to join Jaramogi Oginga Odinga University of Science and Technology. Mactarion has been admitted to University to pursue her Bachelor of Science degree in Community Health. On 11th November, our sponsored student Mactarion Mwende reported to Jaramogi Oginga Odinga University of Science and Technology to pursue her higher education.
We are proud of what she has achieved so far and we wish her the best as she embarks on this new journey.
ABC Bank sponsored the Fortune Sacco Football Club with Branded T-shirts, caps, training bibs and soccer boots. The Bank staff presented the team representatives with the football gear on 4th October in Kirinyaga. This was part of the Bank’s CSR initiatives and was also aimed at strengthening our business ties. The Bank has been partners with Fortune Sacco since 2014 to provide cheque clearing solutions for the sacco members.
Fortune FC is a football team based in Kirinyaga, Kenya that focuses on uplifting our community through football. It is in the National Super League that then leads to promotion into the Kenya Premier League.
ABC Bank trounced the large pack of entries in this year’s Think Business Awards to emerge 2nd Runners Up in the Best Bank in Product Marketing category during the Think Business Awards event. The Bank was recognized for its efforts in marketing the ABC Global product that is targeted at their diaspora customers. The event was hosted online on Thursday, 23rd July and was themed ‘Responsible Banking in a New Era’.
The Think Business Awards event is aimed at encouraging innovation, prudence and stability in the banking sector by recognizing, awarding and celebrating exemplary performance in the sector. Over the years, ABC Bank has been recognized in various categories and scooped several awards.
We’re honored that our marketing efforts are being recognized by industry experts. This award signifies the strength of our business, the efforts of our staff and most importantly, the continued support from our customers.
“Reading gives us someplace to go when we have to stay where we are,” said Mason Cooley.
On Saturday 25th June, part of our ABC Bank team visited Kayole Children’s Home to deliver story books. The children were really excited to get so many storybooks that will keep them occupied with something constructive while they are home due to the Corona pandemic. It was a fun-filled day as the kids had fun and interacted with the Bank staff.
Merab Kivuti is the definition of beating the odds. Growing up in Kayole Children’s Home did not deter her from pursuing her dreams. She did not allow her circumstances to determine her destiny. She studied hard, passed her KCSE, and was admitted to Moi University. ABC Bank sponsored her with an education scholarship and she is now in her first year studying Tourism.
With the Universities closed due to the Corona pandemic, classes are now online for students. Merab needed a laptop to keep up with the classes and to help her keep up her grades. ABC Bank staff led by the Friends of Kayole (FOK) group teamed up to buy her a laptop for her studies and she was presented with the laptop yesterday at our Head Office.
They say charity begins at home. This is what our staff believe in. On 26th June, ABC Bank staff gifted their support staff in the Head Office and Branches with packages to support them and their families during this tough Covid-19 pandemic times.
The support team has been at the forefront of ensuring that we are keeping safe during this period by ensuring our touchpoints are disinfected and clean. We appreciate our essential workers for their efforts and good work.
As part of ABC Bank’s culture of giving back to the community and our customers, we have been conducting various initiatives targeting various stakeholders and partners in supporting the Government and community to curb the spread of the Covid19 Virus.
The Bank is committed to making a difference through interventions such as the provision of face masks, hand sanitizers and the donation of food for families affected by the pandemic. Recently, we donated facemasks to our customers and partners for distribution to the vulnerable groups they work with.
We are also supporting efforts by the Government of Kenya to flatten the curve by contributing to the National COVID-19 Fund. The Bank has made a donation of Kes 1 million to the National COVID-19 Fund that is working with charities and community organizations to support vulnerable groups, especially in informal settlements.
ABC Bank joined our customer, MyCredit, in supporting a food donation drive that is distributing foodstuff in Kibera and Mukuru slums. MyCredit has partnered with GreenCard, a Community Based Organisation, that is working with the Government of Kenya to distribute hand sanitizers and foodstuffs in informal settlements as part of the efforts to curb the spread of Covid19.
The Bank joined the cause to buy foodstuff that will feed 3,000 families and go a long way in putting a meal on the table for the families that have been adversely affected by the pandemic.
Women are the fabric that holds families and communities together. Globally women weave and mend the social, economic, cultural and political fabric through their contributions and achievements. This year’s theme was #EachforEqual which means, collectively, each of us can bring change by creating a gender-equal world.
As ABC Bank, we continue to strive to be #EachforEqual. On Monday, 9th March, our branch staff marked International Women’s Day by celebrating our lady customers, who have made our ABC Bank family thrive through their business support. The ladies were pleasantly surprised and were thankful for the recognition and appreciation.
It’s said that love makes the world go round. Well, it might be true as we helped spread the love from our diaspora customers and cross oceans and continents to their loved ones back home. On 14th February, Valentines day, we showed our diaspora customers how special they are to us by delivering surprise Valentine gifts to their loved ones on their behalf.
“Hallo, valentine hamper delivered nicely and in surprise, Thank you, my team. You are the best bank; it’s nice working with you. Good day and happy valentines to all of you back at home again. The recipient was very happy. I am a happy client,” said one of the customers.
It was a love-filled day and the bank staff were glad to bring smiles to people’s faces and remind them that they are always in their loved ones’ hearts.
ABC Bank has been supporting our customer, the Catholic church, in various initiatives such as sponsoring the Mater Heart Run and other church events. The Bank supported the Catholic Diocese of Eldoret during the installation ceremony of the new Bishop Rt. Rev. Dominic Kimengich on Saturday 1st February 2020 at Mother of Apostles Seminary Grounds – Eldoret. Our ABC Eldoret Branch staff and Adelaide Khamasi attended the event and presented the new bishop with a gift.
The Internet Banking campaign is scheduled to run from 6th January to 29th February 2020.
Online Banking is a fast, easy and convenient way of transferring money. It allows you to make transactions such as; Mobile transfers (from account to Mpesa), Internal transfer (from one ABC Bank account to another), RTGS (transfer of funds to other local banks), International funds transfer as well as make Tax payments
Throughout this period, winners will be selected at random for transactions done either through Internet Banking or the ABC Mobile App.
Start transacting now! Loads of prizes to be won
Click here for Terms & Conditions
Our ABC Bank Diaspora team will be on tour in the USA from 3rd January to 9th March. The team will meet up with various Kenyan groups in an effort to reach more Kenyans living in the diaspora.
This is the fourth visit to USA since 2017. The team will take this opportunity to reinforce relations with its customers there, as well as forge new ones. The tour is part of the Bank’s plan for Diaspora engagement and partnership-building to leverage the business opportunities that the Diaspora Community can benefit from.
ABC Bank prides itself in providing distinguished financial service to Kenyans in the Diaspora, focusing not on remittances only, but on investments as well. The Bank also offers professional investment advice to customers to enable them to make informed investment decisions and enlighten them on the best investment opportunities available in Kenya.
The Tour Itinerary
|Date||State & Activity|
|January 3rd – 13th||Oklahoma, Tulsa, Edmond, Norman – Meeting Investment Groups|
|January 17th – 21st||Dallas, Texas – Meeting KNADS Sacco and Meet & Greet|
|January 27th – Feb 3rd||Austin, Houston Texas – Meet several Investment Groups|
|February 13th – 17th||Wichita, Kansas – Meeting with engineers working for Aircraft Manufacturers|
|March 6th – 9th||Meetings in Kansas and Missouri|
For more information contact
Joseph Waithaka – +254 701 303 731
or firstname.lastname@example.org or email@example.com
ABC Bank was feted with the Finance and Investments – Winner award during the 2019 Champions of Governance (CoG) awards organized by the Institute of Certified Secretaries held at the Sarova Panafric in Nairobi.
The awards affirm the Bank’s commitment in implementing and complying with principles of good governance of responsibility, accountability, fairness and transparency. The awards seek to embed good governance practices that transform institutions and inspire professionals in order to be the premier centre of excellence in governance promotion and development in Africa.
Asante sana for making us champions.
On 6th November, the Kenya banking sector, under the umbrella body of the Kenya Bankers Association (KBA), unveiled a credit platform for Small and Medium-sized Enterprises (SMEs) called Stawi. Stawi was unveiled at the sector’s inaugural Inua Biashara Day by His Excellency President Uhuru Kenyatta.
ABC Bank participated in the inaugural Inua Biashara Day that was held at Safari Park Hotel themed “Promoting innovative finance for MSMEs”. We displayed some of the products of the SME customers we have been supporting to grow their business in different industries.
“Today, our efforts have borne fruit and I am confident we are going to restart this powerful engine of our economy. I take this opportunity to thank and also welcome our development partners to join us in finding solutions to grow our MSMEs,” President Uhuru Kenyatta said while launching the product.
The platform, christened Stawi, is an unsecured digital credit scheme which is meant to improve access to credit for MSMEs, through offering unsecured loans from between KSh30,000 to KSh250,000 with repayment periods of 1 month to 12 months, at an interest rate of nine percent per year.
Speaking during the launch, the Kenya Bankers Association (KBA) chairman Joshua Oigara said that Inua Biashara Day is a continuation of a concerted effort by the banking industry to provide solutions that support the growth and development of MSMEs with the view to ensure that Kenya’s home-grown companies remain strong and thriving entities. It is for this reason that our theme this year is “promoting innovative finance for MSMEs.
The loans are designed to accommodate MSMEs, which have for a long time been unable to access affordable credit because of their high risk nature due to lack of collateral or business plans needed to convince lenders of their creditworthiness.