14 Lake Region counties to contribute Sh200Mn each for establishment of a bank - 12 months ago, 13 Mar 15:20

By: Ojwang Joe

he Bloc’s interim Head of Secretariat Abala Wanga says that each county will factor in a contribution of Sh200 million in their 2018/2019 financial year. Wanga says the county Assemblies are also expected to come up with relevant Bills to safeguard the Bank. He announced that by October this year, all the counties will have paid the required injection of the capital. The Counties forming the Bloc includes Bomet, Bungoma, Busia, Homa Bay, Kakamega, Kericho, Kisii, Kisumu, Migori, Nandi, Nyamira, Siaya, Trans Nzoia and Vihiga. Speaking during a media roundtable meeting, Wanga says the Central Bank of Kenya (CBK) has opened an account for the initiative. He says the initial capital will be in the custody of CBK until the bloc registers the new Bank. “Through Controller of Budget a legal instrument was made and a special purpose account was opened at CBK and the money is deducted from the Counties ...
Read More

Category: business finance


1 hours ago, 00:49
Lifeline for SMEs in training boost

Tier one lender Co-operative Bank has teamed up with International Finance Corporation to empower small businesses through networking and training programmes countrywide in a Sh15 billion ...

Category: topnews news business
5 hours ago, 20:57
Girls turn mangoes into sweet juice and wine

It is another season of the year when supply of mangoes is high leading to glut. From Makueni to Siaya, mangoes are going for a song as traders and farmers try to avoid losses. In Siaya County, ...

Category: business topnews news
5 hours ago, 20:45
Bt cotton is not the panacea to challenges facing our struggling textile industry

Last week’s article, “How Bt cotton can revive collapsed textile industry,” glossed over pertinent issues and erroneously glorified the crop’s credentials. Prior to propagating genetic engineering, a ...

Category: topnews news business
5 hours ago, 20:46
Not an early bird? You can still catch these red worms

The threadlike, red creatures wriggle inside a plastic container creating a beautiful, unending pattern that interests the eyes. James Wafula looks at the red worms keenly before blurting out, “They ...

Category: topnews news business
5 hours ago, 20:46
Are feeds your chickens eat safe?

Are the commercial feeds you give your chickens, dairy cows, pigs and even rabbits safe? This is the question many farmers are asking themselves following the revelations by a new study that 90 per ...

Category: topnews news business
5 hours ago, 20:46
Why fish imports from China don’t worry me

On the foot of the Aberdare Forest in Nyandarua County, David Ruhiu is carving a niche in fish farming in a region dominated by dairy cows. Soon after retirement some 10 years ago, Ruhiu went into ...

Category: topnews news business