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by Bedah Mengo


NAIROBI Nike Air Force 1 , Sept. 7 (Xinhua) -- Business activities by foreign banks with representative offices in Kenya more than doubled in 2016, highlighting their roles in arranging financial transactions in the East African country and their mother countries.


Some eight foreign banks have representative offices in Kenya with the number having risen in the past years.


The banks include Bank of China, Bank of Kigali, Central Bank of India, FirstRand Bank Cheap Air Force 1 , HDFC Bank, Mauritius Commercial Bank, Nedbank and the Cooperative Rabobank, according to the Central Bank of Kenya (CBK).


In 2016, the value of business transacted by the institutions rose to 2.4 billion U.S. dollars Air Force 1 Sale , latest central bank data showed Thursday.


"There was a notable increase in the business activities facilitated by the representative offices in 2016 when compared to 1.1 billion reported in 2015," said the central bank, adding an analysis of the 2016 returns indicated that only four of the eight representative offices facilitated financial transactions during the period.


During the period, there was no change in the number of representative offices operating in Kenya, which remained at eight as at the end of 2015.


Activities of the eight institutions mainly include correspondent banking Air Force 1 Shoes , project, trade and specialised finance and syndicated landing.


Others are term loans, borrowing base, working capital and bilateral receivable discounting, noted the bank.


Most of the transactions Air Force 1 Ultra , 600 million dollars, involved syndicated lending followed by specialised finance (208 million dollars) and project finance (183 million dollars).


Bank of China is among the big transactors as the Asian nation finances various infrastructure projects in the East African country.


The bank opened the office in Kenya in 2012, with the move aimed at easing the flow of Chinese loans to East Africa.


Bank of China markets products of its parent company in Beijing, focusing on investment banking, corporate banking and asset financing.


CBK authorizes representative offices of foreign banks that wish to establish a presence in Kenya.


The growth of the transactions of the foreign banks shows the international financial institutions are solidifying their presence in the country as Kenya becomes their preferred base for their regional operations.


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ADDIS ABABA, Sept. 7 (Xinhua) -- The Chairperson of the African Union (AU) Commission, Moussa Faki Mahamat, has condemned the killing of Lesotho's Army Commander, Lieut. Gen. Khoantle Motsomotso on Tuesday.


According to an AU statement on Thursday Air Force 1 High , the Chairperson has expressed "deep concern over the potential destabilizing consequences of this barbarous act on the peace that Lesotho enjoys, following a successful conduct of democratic elections."


The Chairperson has further expressed "great concern at the fact that this gruesome incident takes place hardly two years after the assassination of Lieutenant General Maaparankoe Mahao in June 2015."


He has called on the parties in Lesotho to resolve political differences through peaceful means, within the framework of the country's constitution.


Calling for calm and restraint, the chairperson has urged the government to institute an investigation into the matter.


He has extended his heartfelt condolences to the family of the deceased, the government and the people of Lesotho.


The Chairperson urges the Southern African Development Community (SADC) to immediately engage the government of Lesotho to explore ways and means of resolving all outstanding issues Air Force 1 Mid , including, but not limited to the implementation of the recommendations of the SADC Commission of Inquiry to Lesotho that was established following the killing of Lt. General Maaparankoe Mahao in 2015, according to the statement.


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Arts > Music > Music BusinessRemovals Plymouth for your business

Posted by adairsawyer in Arts on February 7th, 2014


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