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Stanchart unveils digital bank platform

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You can now open a bank account, save, borrow and undertake other transactions online without having to visit a branch following the launch of a Mobile Digital Bank by Standard Chartered Bank.

Kenya is the fifth market in Africa after Ivory Coast, Ghana, Tanzania and Uganda where Standard Chartered has unveiled the digital bank platform that offers at least 68 services on the mobile phone handset.

The platform will now allow clients to open an account in less than 15 minutes, transact, save, borrow, invest, insure and protect their wealth online without having to visit a branch.

The digital bank platform will provide over 68 services on your phone including; updating account information, activate or stop your Card, bill payments; stop or block a cheque, fixed deposit creation and termination, funds transfer locally and internationally among others.

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Speaking at the launch, Standard Chartered Bank Kenya Managing Director and CEO Kariuki Ngari said the full end to end digital solution can be accessed by downloading or upgrading the SC mobile App via Google play store or Apple store and is available for both existing and new clients to open a Standard Chartered Digital Life Account anywhere, anytime.

“In response to growing consumer demand for innovative banking services, our clients will be able to enjoy the convenience of banking on the go, anytime and anywhere, along with a consistent online experience. In a nutshell, our clients do not need to stop doing what they love doing, for example spending time with their loved ones, teeing off, taking a spot-kick, relaxing, or even taking time off work, to do banking; the Bank is now available at the palm of their hands; anywhere, anytime, anyhow,” Mr. Ngari said.

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Mr Ngari said the Bank will continue to make strategic and sustainable investments in technology that will complement its innovation agenda, as well as enhance its digital offerings and client experiences.

Additionally, the rollout will also see the Bank engage in strategic local alliances to create an appealing lifestyle banking proposition.

“At Standard Chartered we have responded to new trends and the evolving needs of Kenyans with a strategic intent of being Digital by Design through innovation and technology. Digitalization to us means a disruption from traditional and conventional ways of banking to transforming banking business to conform to the lifestyles of our clients,” Mr. Ngari said.



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KENGEN’s Olkaria Geothermal Plant Lower Evacuation Costs Causes Competitor To Lower Electricity Tariff

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Kengen’s Olkaria Geothermal plant which has low evacuation costs hence providing low power tariff to its customers has ignited its competitor to reduce its power tariff to set up factories in the Special Economic Zone (SEZ) in Olkaria, Naivasha.

The Energy and Petroleum Regulatory Authority (EPRA) said it had approved the tariff deal for the large industries that will set up base in the special zone.

The KenGen Green Energy Industrial Park, which has four zones had set the pace by offering direct connection to cheap electricity in addition to the connection to Mombasa port via the Standard Gauge Railway (SGR) line.

KenGen recently moved to diversify its revenue streams by inviting investors to set up export-only textile and apparels plants on the 309-acre industrial zone in Naivasha.

It said the Olkaria property is divided into four plots: Site A (70 acres), Site B (82 acres), Site C (100 acres) and 57 acres reserved for Site D.

“Under the lease, the manufacturing/processing firms (locators) will be supplied with utilities such as geothermal steam and brine (hot water) as well as raw water,” said the electricity producer. Factories around the SEZ will also be served by the just-completed Naivasha-Nairobi-Mombasa Standard Gauge Railway (SGR), easing connectivity.

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This will enable them to import raw materials which will be delivered directly to their factories and later have manufactured products exported to other countries like Europe and the Americas with ease due to access to the Jomo Kenyatta International Airport as well as the Port of Mombasa.

Among the targeted companies are the labour intensive export-only textile and apparels plants. Kenya has been expanding and simplifying the tax incentives it offers for investment in special economic zones in a bid to attract investment into those zones.

In July 2019, the government designated 9,000 acres of land in Naivasha, Mombasa, and Machakos as SEZs in efforts to boost manufacturing. The SEZs are designated areas aimed at promoting and facilitating export-oriented investments. Kenya recently improved its global ranking among the world’s largest geothermal powerhouses after it completed the testing of the first unit of the Olkaria V project.

The 82.7 megawatts project pushed Kenya above Iceland to position eight in the global rankings as the country continues its advancement towards green energy. “We are delighted to announce the completion of the first unit of Olkaria V geothermal power plant and subsequently injecting 79 megawatts to the national grid,” said KenGen Managing Director Rebecca Miano last year.

 

 

 

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President Kenyatta’s tribute to former leader Daniel Moi

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UHURU KENYATTA

By UHURU KENYATTA
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It is with a heavy heart and a profound sense of personal loss that I make this tribute, in honour of the life of President Daniel Toroitich arap Moi, who rested on the early hours of Tuesday February 4, 2020.

Today, as the solemn procession of the late President Moi proceeds through the streets of our Nation’s capital, to lie-in-state at Parliament buildings; we commence the final journey of a great son of Kenya, a cherished brother, a loving father, a mentor to many, a father of our nation, a champion of Pan-Africanism, and the Second President of the Republic of Kenya.

The question that we all should ask ourselves is: “How does one mourn an iconic leader?” A leader who spent almost his entire life in service to our nation, whose story of heroism, sacrifice and service, began in the pre-independence era.

How is a man who achieved so much more than is expected in a lifetime – be celebrated? 

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What would be a befitting send off or national honour for a man who built Kenya, in large part by the works of his hands?

A man who, together with other iconic leaders, helped Shepherd our Country out of the shackles of Colonial Rule; and into the Freedom and Self Determination of our modern independent State.

How else can a grateful Nation celebrate the life of a man whose calm and steady hand reassured a young Nation and her Allies, during the peaceful transition into the Second Administration?

The sun has set on a truly extraordinary man.

A masterful yet thoughtful leader.

A suave yet firm Diplomat.

One who served the nation with dignity and honour.

One whose wisdom and diplomatic finesse kept Kenya, both relevant and neutral, even as the whole world was in the grips of the Cold War.

“A passing cloud” that served with distinction for 24 years. A decisive and courageous Commander-in Chief of formidable achievements, who chose well and always put the country first. 

A balanced leader who during the clamour for multipartisym, on listening to both sides – chose well, setting the stage for national rebirth through the reintroduction of multiparty politics.

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A tactful leader, who during the quest for a new constitutional order, listened and quietly chose what was best for the country.

A visionary leader who, in 2002, when his party – and, I as their candidate – lost the Presidential election, left office with a gracious last word of advice to those who, thereafter, took up the heavy responsibilities he had borne for a quarter of a century.

Today, we to celebrate the life of a patriot who wherever in Kenya he found himself, he would calm fears and raise the hopes of everyone who heard him. 

No part of Kenya was strange to him, and nor were her citizens. Deep in his D.N.A, he understood and prized our culture and national character.

To his last day in office as President, he remained committed and ready to defend Africa and her people. He believed, deeply, that we had the answers to the questions that troubled our continent.

Our Nation is not alone in mourning the passing of President Daniel Toroitich arap Moi. The whole of Africa is mourning with us. We continue to receive messages of sympathy and admiration for the life and service of Mzee Moi from around the world.

We celebrate the life of a teacher for life and a mentor to many – myself included. One whose ingenuity bequeath our Nation many projects.

President Moi was a mortal man, whose works and legacy are immortal. The Republic of Kenya, the community of East Africa and the great continent of Africa, bears his indelible mark, which, I am convinced, will endure long into the future.

May Mzee Moi’s memory live as long as our Republic endures; and may we, to whom he has left the care of the Republic, prove ourselves worthy of his bequest.

We commit Mzee Moi’s Soul to the Almighty God, thanking the Creator for sending to us His Servant, whom after nearly a century of selfless and steadfast service, now rests in His Glory and his well-deserved reward.

God bless you and our beloved Nation – Kenya.

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Moi’s body leaves funeral home

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The body of former president Daniel Moi has left Lee Funeral Home for Parliament Buildings.

Kenyans of all walks of life will have three days from Saturday to Monday to view the body, which will be lying in state at Parliament Buildings.

Head of Public Service Joseph Kinyua said President Uhuru Kenyatta will be the first to view the body at State House on Saturday at 10.15 am.

The body will leave the Lee Funeral Home at 8 am with the casket draped in the national flag.

The funeral procession is snaking through Valley Road to Kenyatta Avenue and on to Parliament Road after which a military parade will be mounted in his honour.

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