Thursday, April 20, 2006

A dollar a day Part II

Banks want my google $
Trying to find a bank that will process my ad sense $100 cheque (worth approx 7,100 shillings) at a reasonable price. So far the outlook is mixed with several banks offering to collect my Citibank cheque for between 1500 and 3,500 shillings! So am now looking at the smaller banks which may be cheaper or asking google to alter my payment method so that I can retain at least 90% of my blog earnings.

New Bank
Kenya’s next bank will be Family Finance Building Society and it will operate as Family Bank Ltd after June 2006.

More SMS Banking
KCB is the latest bank to introduce SMS banking. KCB connect will offer 13 different transactions via mobile phone including mini-statements, account balances, cheque book requests, stop payment instructions and airtime top up for 25 shillings per transaction.

Better late than never
Two weeks after the Marsabit air crash, the Kenya Civil Aviation Authority has announced a tender for the supply, installation and commissioning of an air traffic craft control tower complex for Lokichoggio which is one of the busiest small aircraft airports in Kenya. Deadline for applications is June 8.

Leave Safaricom alone
Safaricom has asked companies to stop making enquiries and applications for their lucrative dealership business licences until after April 2007.

Reality check
The Nation’s new Thursday personal finance magazine has a
bar tracker feature today showing that for a Kenyan who consumes 25 bottles of beer a week (IMHO low) this all adds up to spending 130,000 shillings a year.

Africa Business has published its rankings of the 1,000 largest companies in Africa. The list is dominated by South Africa, Northern African, mining and oil companies and the largest Kenya Company , East African Breweries, is ranked at number 76 - with a market value of $1.22 billion.


Kagz said...

All the best in trying to cash your ad sense check (US English)...& not cheque:)

KCB-sh 25 per transaction??? Isn't that a rip off???

Glad to hear Safcom has put a hold to the dealerships. Many dealers were complaining that the market was getting flooded & profit margins were getting even slimmer.

To beat this, some dealers resulted in unfair business practices which Safcom were not able to control.

kritik said...

hi banks...
might you have the entire list (or link) of top 1000 companies in africa?

simbafizzle said...

how deep is the relationship between Citibank (Kenya) and its parent company?

The banking charges are ridiculous.

bankelele said...

Kagz: all sms bank products are pricey - coop, prime, except at some flat fee banks where it is included

kritik: don't have the list but I know the kenyan co's on it

simbafizzle: I believe it's a 100% subsidiary of Citibank. I have not talked to them about my cheques, since they are not a retail bank anymore

Ntwiga said...

Try talking to CBA about your deposit. You will have to open a US $ account and they should then process it for you for free.

The minimum deposit should be about Kshs 5000 which means that the check should just about cover it.

Ntwiga said...

By the way, Citibank N.A, the Kenyan arm of CitiBank is 100% foreign.

Jay said...

130,000 k??!! I may have to get new hobbies.

bankelele said...

Ntwiga: CBA a bit expensive for mwananchi, going by the rates they charge corporations. Thanks for the info on Citibank, who also only handle corporates

Ms K: Yes, it does add up to that
much - enough to finance a few holidays (but I'd be miserable for the other 50 weeks while saving up)


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