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.

UNAUDITED QUARTERLY FINANCIAL STATEMENTS AND OTHER DISCLOSURES AS AT 30TH SEPTEMBER 2020

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 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.