Browsing: Standard Chartered Bank

• The latest Nairobi Securities Exchange monthly Barometer shows month-on-month growth comparing January this year and December last year, with prospects looking much better after a bear run last year.
• Market capitalisation increased by 0.08 per cent in January to $9.11 billion from $9.05 billion in December 2023.
• The NSE 20 and NSE 25 Share Index recorded increases in activity of 0.89 per cent and 1.32 per cent, respectively, while the All-Share Index experienced a 0.08 per cent increase.

Nairobi Securities Exchange showing recovery signs

Kenya’s capital market is showing a sign of recovery this year, with the Nairobi Securities Exchange (NSE) recording a gain in January, albeit minimal, as large stocks pay investors.

This is despite interest rates in advanced economies remaining high into 2024, a trend that has seen foreign investors focus on home markets, mainly the United States.

The latest NSE monthly Barometer shows month-on-month growth comparing January …

• Kenya-DRC and Tanzania-DRC Corridors have been identified as the key links that will drive East Africa trade.
• Within the Southern Africa region, higher integration will drive its share of total intra-Africa exports to a third by 2035.
• The MENA Region and the Middle East-East Africa corridors will also be substantial, with combined trade volume expected to reach almost USD200 billion by 2035.

Increased infrastructure interconnectivity by the African states has been identified as the key driver that will lead to success of the African Continental Free Trade Area (AfCFTA). Kenya-DRC and Tanzania-DRC Corridors have been identified as the key links that will drive East Africa trade.

This comes after members after some member states expressed concern that the African trade system has failed to grow beyond the estimated 14–15 per cent over the last three to four years.

However, prospects are now positive that intra-Africa trade will grow 3.9 per …

In the category of banks with the best case study, Standard Chartered Bank of Kenya took first place, followed by Absa Bank in second place and I&M Bank in third place, in the category of banks with the most nuanced case study in bank operations.

Through productivity programmes and the effective use of operational resources and energy like paper, water, and waste management, including electronic waste, the lenders were recognised in this category for their dedication and investment in ensuring the optimised management of both financial resources and natural capital.

KWFT won Promoting gender inclusivity

In a category that evaluated lenders’ efforts in encouraging women to be formally included in the financial services sector, creating opportunities for female employees to take leadership positions, and empowering female entrepreneurs,

KWFT was named the best bank for promoting gender inclusivity in the industry. Position two went to SBM Bank, and position three went …

• Standard Chartered Bank has found that health and fitness, retirement planning and leaving a family legacy have been on the minds of future-focused, affluent individuals worldwide, including Africa, for some time
• The top three goals the report uncovered were improving personal health at 44 per cent of those who set goals and setting aside more money for their children’s futures at 39 per cent
• The pandemic has also caused many affluent consumers to lose confidence in their financial management, making them increasingly averse to risk

A new survey by Standard Chartered Bank has found that health and fitness, retirement planning and leaving a family legacy have been on the minds of future-focused, affluent individuals worldwide, including Africa, for some time.

According to the bank’s Wealth Expectancy Report, these priorities have evolved into new goals, prompting changes to how they manage their finances amid the ongoing global pandemic.

The 20-minute online …

In a related story, Standard Chartered Bank has scooped the 2022 Best Trade Finance Provider in Kenya award for its trade innovation in product capabilities and stellar focus on client-centricity.

The bank was awarded for first-class services and products that aptly addressed key client challenges brought about by the pandemic.

The editorial review board of Global Finance selected the best trade finance providers based on entries from banks and other providers, as well as input from industry analysts, corporate executives, and technology experts. Criteria for choosing the winners included transaction volumes, global coverage, customer service, competitive pricing, and innovative technologies.…

Many investors are targeting the sector which has helped expand financial inclusion in Sub Saharan Africa.…

Uganda’s Standard Chartered Bank organized a Manufacturers’ Business Forum for over 150 manufacturers’ and various stakeholders with the purpose of providing a platform for market players to share progressive insights, network and best practices.

The forum was under the theme“Practices for Sustainable Business Growth”.

It brought together experts and leading manufacturing businesses to talk about current trends affecting Uganda’s business growth and share the latest research on important and policy-relevant topics.

Standard Chartered Bank clients got an opportunity to engage, learn, network and are empowered to expand their operating environment.

The Standard Chartered Bank Africa Strategist, Eva Wanjiku Otieno, presented the Macroeconomic & Global Geopolitical Outlook.

She emphasized on Uganda’s mixed growth outlook which is supported by public investment in infrastructure. However, she said that the business prospects would be affected by the delay of the Final Investment Decision (FID) and upcoming elections.

Also Read: Uganda 7% projected growth too

Tanzania will subject the SGR to its first formal testing in May after the completion of the construction of the first phase in April.…

Uganda’s Umeme has secured a $70 million syndicated loan from the International Finance Corporation (IFC), Dutch Development Bank (FMO), Standard Chartered Bank and Stanbic bank.

From the loan $28 million was from IFC, $10 million from FMO, $16 million from Standard Chartered Bank and $16 million from Stanbic bank.

Umeme chairman, Mr Patrick Bitature said the loan would partly be used to undertake capital investments to get electricity from Uganda’s newest dams.

“The planned investments are aimed at expanding the network to uptake the new generation, improve reliability and create access,” he said.

Also Read: IFC $22M partnership with Investment Funds for Health in Africa

Mr Bitature said the loan would also be utilised to prioritise Umeme’s investments in five other areas such as upgrading its network, extending power to industrial parks, building the backbone for more electricity connections to be supplied, reducing energy losses and accelerate prepayment metering.…

Leading financial and environmental institutions, United Nations, multinationals and sustainability campaigners on Thursday gathered in Nairobi to hold the inaugural Africa Summit to accelerate green and sustainable finance.

The forum being spearheaded by Standard Chartered Bank is meant to reflect on challenges and the opportunities that can help deliver sustainable development for Africa.

READ ALSO:China ; Africa Development Fund in Africa exceeds $10 billion

Speaking at the opening of the inaugural Summit themed – Transforming Africa into the next Global Growth Engine– Standard Chartered Bank Kenya CEO Kariuki Ngari said sustainable finance is now recognized as one of the megatrends shaping the future of global finance.

The forum was attended by key leaders among them Kenya’s Permanent Secretary Transport, Infrastructure, Housing, Urban Development and Public Works Esther Koimett,  Secretary-General of the United Nations Conference on Trade and Development (UNCTAD) Dr. Mukhisa Kituyi and Dr. Richard Munang, Coordinator …