Browsing: Diamond Trust Bank

• Kenya’s tech industry regulator says Kenyan startups have the potential to drive up to 70 percent of Kenya’s digital transformation.
• However, latest data shows about eight out of 10 Kenyan startups tend to close shop within the first three years of operation.
• Communications Authority CEO Ezra Chiloba says by forming strategic partnerships, startups can receive valuable insights and support for growth.

Despite a majority of Kenyan startups failing to reach three years into operation since launch, stakeholders in the sector maintain that they are key to the country’s digital transition.

According to Ezra Chiloba, the CEO of industry regulator the Communications Authority, startups have the potential to drive up to 70 percent of Kenya’s digital transformation. However, many of them face significant obstacles such as funding and compliance constraints, leading to a high rate of closure within the first year.

Chiloba highlighted that around 80 percent of startups tend …

Diamond Trust Bank and Simba Corporation have signed a partnership to enable Small and Medium Enterprises category acquire new Fuso trucks.

The vehicles will be made available with 100 per cent financing under the bank’s motor vehicle financing scheme dubbed ‘Beba Leo’.

The SMEs will be financed to acquire FUSO trucks with a flexible repayment period that enables customers to gradually pay for them without disrupting their cash flow or working capital.

Approval from DTB

Simba Corporation is the largest and sole representative for the distribution and service for a range Fuso trucks including the new FUSO FI and the popular Fuso Canter.

Kennedy Nyakomitta, General Manager in charge of Asset Finance at DTB, said the scheme was developed in a way that would allow the customer to cater to their most pressing needs without any capital outlay.

“This partnership cements our commitment to grow the SME sector.  Our decision …

Nairobi headquartered Diamond Trust Bank has announced the appointment of Mr. Linus Gitahi as its Chairperson. The appointment which was announced to the DTB shareholders at the Nairobi Securities Exchange (NSE) listed firm’s Annual General Meeting of 23 May 2019, is geared at accelerating growth and corporate governance reforms.

The appointment, will also provide corporate governance leadership for DTB which is banking on technological transformation programmes to transform its subsidiaries into premier digital banking and payments solution providers for an increasingly discerning and technology-driven customer base.

With the appointment, Mr. Gitahi who has been serving as a Director on the DTB Board has taken over the mantle from outgoing Chairperson Mr. Abdul Samji who has served for the last nine years.

The appointment of Mr. Gitahi will provide further impetus to the realization of the DTB Vision 2020 strategy which seeks to position DTB Group banks as the leading players …