Co-operative Bank of Kenya has announced plans to acquire Kenya’s second smallest bank Jamii Bora bank (JBB), months after Commercial Bank of Africa closed buyout talks in favor of NIC Bank.

While welcoming the proposed acquisition, Central Bank of Kenya said the transaction between the two banks will diversify the business models of the two institutions and enhance the stability of the Kenyan banking sector.

The proposed acquisition will lead to the acquisition of 100 percent shareholding of Jamii Bora by Co-operative bank.

Despite significant gains, women are still underrepresented in business. According to a Harvard Business Review report, women control Sh2,000 trillion in annual spending.

However, making it in business has not been easy for them due to hurdles ranging from lack of mentoring to inadequate funding. Aida Diarra explains what Visa’s She’s Next initiative is about. Below are the excerpts.

What benefits accrue from Visa’s She’s Next initiative?

She’s Next is Visa’s global programme to support female entrepreneurs.

Absa Bank Kenya has signalled its intention to shake up the banking market through its revamped SME proposition which offers up to Sh10 million unsecured loans to entrepreneurs.

Under the new proposition, known as Wezesha Biashara, entrepreneurs can also access LPO financing of up to Sh12 million, unsecured invoice discounting of up to Sh50 million and unsecured bid bonds of up to Sh10 million.

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Speaking during the event, the Vice Chancellor, Dr. Kabera Callixte, University of Tourism, Technology and Business Studies, observed that they would be glad to work with a leading university in the region, the University of Nairobi to enable Rwandese students enjoy cultural exchange, internships, industrial relations, teaching and learning in a different country.  The program, sponsored by Volkswagen , so far incorporate several countries ;  Kenya, Germany, Singapore, Uganda, Rwanda and Burundi. The aim is to advance social enterprise among students in developing countries.

The two days’ workshop, organized by Intellectual Property Management Office, IPMO, was conducted from February 5-6, 2020 at the University of Nairobi Towers.

NCBA Bank has signed a strategic partnership with property firm Optiven to grow its property finance business.

The agreement will enable NCBA customers buy their desired plot of land and build a residential or commercial unit. The bank will also offer customers financing of up to 25 years.

NCBA Deputy Director, Consumer Banking Mercy Kagwiria said the partnership will enable its customers access property financing solutions in a seamless manner.

Increased demand for Safaricom

and top bank stocks Tuesday saw the Nairobi bourse gain Sh10 billion in market capitalisation, recovering some of the heavy losses recorded on Monday.

The value of all the Nairobi Securities Exchange-listed firms rose to Sh2.27 trillion from Sh2.26 trillion as most of the heavily battered stocks registered gains in the single digits.

The market had dropped by Sh125 billion on Monday, the largest decline in a single day in the history of the exchange in what has been linked to foreign investor flight.

The Africa Mobility Initiative through its accelerator program, Africa Transformative Mobility Accelerator (ATMA) is calling startups in the mobility industry to apply to join the accelerator’s 2020 cohort. The open application is LIVE on africamobilityinitiative.com and will run till 31st March 2020.

Lack of finance, appropriate business development services and absence of specialised professional and technical support have cited as some of the major challenges afflicting women SMEs in manufacturing.

Access to finance particularly remains the major cause of limited participation of women in industry, particularly the absence of innovative financial products for funding women start-ups in non-traditional manufacturing.