Friday, July 29, 2005

Local corporate briefs

New newspaper
Royal Media Services launched The Leader a new weekly newspaper today (July 29). The first issue doesn’t really break any news, but has analysis of events that have been in the news this week such as the constitutional referendum, KACC investigation of the Kenya Navy ship (has an interview with Justice Ringera), the split in LDP and debt relief for Kenya.

The first issue has some major advertisers, who are extensions on their radio stations such as British American Tobacco, CFC Bank, Kenya Revenue Authority, Keroche, and the Windsor Country Club. The paper joins the Royal Media stable which also includes: Citizen TV (the people’s channel), Radio Citizen Tosha, Ramofi FM (kar chuny jaluo), iNooro FM (muugi ni mutaare), Mulembe FM (omwoyo kwa baluhya) and YFM (live it, love it). It retails for 40 shillings and can be e-mailed here.

Bank IPO preparations
Equity Bank will be fresh capital through a listing at the Nairobi Stock Exchange by November, and this week, the Bank’s MD talked to the Standard to dispel anxiety that that it could the next big bang in the financial sector.

New ADB president
Rwanda's Finance Minister Donald Kaberuka was elected as the new President of the African Development Bank Group (ADB) during the extraordinary Meeting of ADB Governors held in Tunis. The Rwandan Minister faced fierce competition from a Nigerian candidate.

Postbank gets new MD
Mrs Nyambura Koigi is the new Kenya Post Office Savings Bank (Postbank) Managing Director. Prior to the appointment, she was the company’s Director of Operations and has been the acting MD for almost a year. Nyambura, who holds a Masters degree in Business Administration from the University of Nairobi, has over 23 years experience in banking. Last month, Nyambura said Postbank would pursue its dream of converting into a full-fledged commercial bank, but the bank’s ambitious conversion plan has met stiff resistance from the World Bank.

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