On 24th December, ABC Bank staff visited Kayole Children’s Home to deliver the Bank’s Christmas gift to the children. ABC Bank has been supporting the Children’s Home for many years and as per our Christmas tradition, we wrapped the year sharing the Christmas spirit of love and sharing with a Christmas blessing to the children including 2 goats because Christmas is not complete without ‘mbuzi’.
ABC Insurance Brokers has announced a partnership with Prudential Insurance to offer their customers the ABC Kwaheri Plan, a life insurance cover payable in the event of death to cater for burial expenses. This product is unique in its scope of coverage, allowing policy holders to cover up to 10 family members including parents-in-law. The policy is affordable starting from as little as Kshs 2,500 per year. This product is designed to be convenient and affordable so that the insured member can enjoy peace of mind during these uncertain times.
ABC Kwaheri Plan is part of a unique bouquet of affordable, accessible insurance products offered by the brokerage firm. ABC Insurance Brokers is part of the ABC Bank & Group which has a keen focus on diaspora banking to ensure that they offer their diaspora customers a bouquet of services that meet all their financial needs ranging from savings, investments, insurance among others. The Kwaheri Plan caters for unforeseen bumps in the road of life e.g. death of family members in Kenya or the repatriation of a loved one who passes on outside the country. Being in the diaspora especially and having to plan to travel on a whim, might make a difficult situation more overwhelming with the additional costs.
“ABC Bank & Group aspires to be a one stop shop for all our customers’ financial needs to give a holistic customer experience banking with us. We are proud to partner with Prudential to offer our customers a life cover that will ensure they have peace of mind especially during turbulent times such as we are in now, facing the Covid pandemic. The ABC Kwaheri Plan is a unique solution offering an affordable insurance cover and access to professional insurance advisory,” said ABC Bank Group Managing Director, Shamaz Savani.
“Prudential is delighted to partner with ABC Bank to provide insurance solutions which help customers get the most out of life and provide peace of mind during these uncertain times,” said Prudential Kenya CEO, Raxit Soni.
The ABC Kwaheri Insurance Plan is a great additional offer for any customer who would like to secure their loved ones future.
On the 16th of December, the Bank donated old newspapers to (TCF) to go towards the support of people living with spinal cord injury.
The Cluster Foundation (TCF) is a hub of hope for the persons with spinal cord injury, also known as paraplegics. Established in 2008 with the objective of restoring hope and rekindling zest in the lives of paraplegics, TCF has been the main beneficiary of the Bank’s old newspapers since year 2012.
The organization has so far served over 280 Spinally Injured Person (SIP) in 10 counties.
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.