Alexander Forbes clienteles wins big from Octagon services deal

A new strategic partnership has been entered into under which Octagon Africa will serve Alexander Forbes multinational clients with a presence in Kenya.  This strategic partnership comes after Alexander Forbes’ review of its strategic business and operating model in March 2019, and to exit emerging markets and strategically reposition with credible partners to deliver and support their clients operating in the specific country.   Through this strategy we have a platform to work with a network of partners while maintaining the ability to deliver excellent service and solutions to our…

GAUGING THE ECONOMIC WAVES OF CORONAVIRUS ON KENYA

The Kenya Private Sector Alliance (KEPSA), the apex body of the private sector in Kenya, this morning resolved to engage all its members to begin to calculate the projected economic impact of Coronavirus in each sector. The collated input will inform the development of a rapid response mitigation plan to minimize the impact of the outbreak on the Kenyan market. It will also allow the private sector to measure the impact of the expected global slowdown of trade on Kenya. KEPSA is encouraged by Executive Order No 2 ofhttps://www.expresstoday.co.ke/?p=2932&preview=true 2020…

Family Bank clienteles to befit from 100% vehicle cash deal

Family Bank has entered into a partnership with Simba Corporation Limited in a deal that will see customers receive up to 100% financing to purchase vehicles. This partnership will enable Small and Medium-Sized customers in the agribusiness, trade and logistics businesses to conveniently purchase Fuso trucks, Mitsubishi and Mahindra products at competitive interest rates. Business owners in the agribusiness sector and the education and religious institutions will be able to access 100% financing with a five-year repayment period while other business enterprises access 95% financing repayable in a period of…

Sanlam General Insurance rolls out Road Assistance services

Sanlam General Insurance, a subsidiary of listed non-bank financial services provider Sanlam Kenya, has today launched Sanlam Road Assistance, a comprehensive private motor insurance service geared towards improving the experience of its motor insurance customers. The service which is in line with the firm’s commitment to offer solutions to customer needs will provide road assistance to all motor private – comprehensive customers. This includes, on spot accident assessment, free post-accident support, towing and an optional add on for courtesy car and taxi service to complete the journey. Speaking during the…

Top insurance agents awarded in annual fete

Kenindia Assurance has awarded its top performing insurance agents and brokers for the year 2018 in recognition of their contribution to the growth of the Company, at an event presided over by Insurance Regulatory Authority Chief Executive officer Godfrey Kiptum. Speaking at the award event, Kenindia Assurance Managing Director B.S. Sharma said the agents still play a critical role in the growth of the Company and the insurance industry in general. “Throughout this journey agents have been an integral part of our growth, for which we are grateful. We look forward to…

Net interests growth push Family Bank earnings to Ksh. 1.01 B

Family Bank CEO Rebecca Mbithi  speaking during the investor briefing    Family Bank has recorded a Sh1.01 billion profit before tax in the nine months of 2019, registering a remarkable 274% growth in earnings compared to the same period in 2018. Higher loan uptake, steady growth in customer deposits and growth in operating income are the key drivers of the bank’s profitability and the same continue on an upward trajectory. The performance, covering the period up to end of September 2019, is an improvement from the Sh269.9 million posted in…

KWFT, AAR Insurance and Bliss Healthcare launch affordable health micro-insurance product

Kenya Women Microfinance Bank (KWFT) has partnered with AAR Insurance & Bliss GVS Healthcare to launch a medical micro- insurance cover targeting low and middle income earners in Kenya. The product named KWFT Afyafit is a comprehensive and affordable medical micro-insurance at only Ksh19,800 for a family of six. The product comes with an inpatient limit of Ksh 500,000, outpatient limit of Kshs 75,000, a generous maternity limit of Ksh100,000, dental and optical limit of Ksh10,000 respectively per family. KWFT Afyafit also covers chronic, psychiatric and congenital conditions as well as…

Survey: 40pc of car insurance policies in Nairobi might be fake

One customer said she had an accident and when she went to claim, she was told that the insurance company did not have her details in their system, despite having paid for the premiums. 40 percent of motor vehicle insurance policies in Nairobi exist only on paper according to research released by insure tech company Bismart. It reveals that a sizeable number of Kenyan drivers could be holding fake car insurance despite having paid for the cover. The research showed that 22 percent of motor vehicle insurance policies could not…

KCB Introduces more borrowing options with revamped KCB-Mpesa Platform

KCB-MPESA customers will now enjoy more borrowing and saving options and faster transaction speeds. This follows a successful migration of the offering to a new and more robust platform, KCB Bank Kenya has said in a move that will allow KCB M-PESA users to borrow a loan, pay it back the same day and borrow again. The revamped product is part of KCB Bank digital banking proposition meant to deliver sustainable growth for the business into the future. “We are continually reimagining digital finance. There is need for us to…

City sprouted with Alcoholic retreats despite tough regulations

Issuance of new liquor licenses in Nairobi has been frozen in a move aimed at allowing Nairobi City County Alcoholic Drinks Control and Licensing Board to review existing liquor outlets. Regional Commissioner Kangethe Thuku urged the board to control and regulate the number of wines and spirits and bars sprouting near schools and in residential areas. Speaking during a sensitization workshop for local leaders, administrators and bar owners, Thuku pointed out that National Agency for the Campaign Against Alcohol and Drug Abuse (NACADA) Authority statistics for 2017 indicate Nairobi County…