DOCSLIB.ORG

Bank Supervision Annual Report 2020 1 Table of Contents

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Bank Supervision Annual Report 2020 1 Table of Contents CENTRAL BANK OF KENYA BANK SUPERVISION ANNUAL REPORT 2020 1 TABLE OF CONTENTS VISION STATEMENT V THE BANK’S MISSION V MISSION OF BANK SUPERVISION DEPARTMENT V THE BANK’S CORE VALUES V GOVERNOR’S MESSAGE VI FOREWORD BY DIRECTOR, BANK SUPERVISION VII EXECUTIVE SUMMARY IX CHAPTER ONE STRUCTURE OF THE BANKING SECTOR 1.1 The Banking Sector 2 1.2 Ownership and Asset Base of Commercial Banks 4 1.3 Distribution of Commercial Banks Branches 5 1.4 Commercial Banks Market Share Analysis 5 1.5 Automated Teller Machines (ATMs) 7 1.6 Asset Base of Microfinance Banks 7 1.7 Microfinance Banks Market Share Analysis 8 1.8 Distribution of Foreign Exchange Bureaus 10 CHAPTER TWO DEVELOPMENTS IN THE BANKING SECTOR 2.1 Introduction 12 2.2 Banking Sector Charter 12 2.3 Legal and Regulatory framework 12 2.4 Consolidation, Mergers and Acquisitions, New Entrants 12 2.5 Medium, Small and Micro-Enterprises (MSME) Support 13 2.6 Coronavirus (COVID-19) pandemic: 13 • Measures to Mitigate the Impact of COVID-19 Pandemic 14 • Impact and Outcomes of COVID-19 Mitigation Measures 15 2.7 Developments in Information and Communication Technology 15 2.8 Mobile Phone Financial Services 22 2.9 New Products 23 2.10 Operations of Representative Offices of Authorized Foreign Financial Institutions 24 2.11 Surveys 2020: 25 • Residential Mortgage Market Survey 2020 25 • Micro, Small and Medium Enterprises (MSME) Survey 2020 27 • Innovations Survey 2020 30 2.12 Innovative MSME Products by Banks 32 2.13 Employment Trends in the Banking Sector 32 2.14 Future Outlook 32 CENTRAL BANK OF KENYA BANK SUPERVISION ANNUAL REPORT 2020 I TABLE OF CONTENTS CHAPTER THREE MACRO-ECONOMIC CONDITIONS AND BANKING SECTOR PERFORMANCE 3.1 Global Economy 34 3.2 Regional Economy 34 3.3 Domestic Economy 35 3.4 Inflation 37 3.5 Exchange Rates 38 3.6 Interest Rates 38 3.7 Balance of Payments 39 3.8 Fiscal Developments 39 3.9 Performance of the Banking Sector 40 3.10 Commercial Banks Balance Sheet Analysis 40 3.11 Sectoral Distribution of Gross Loans, Loan Accounts and Gross Non-Performing Loans 41 3.12 Asset Quality 43 3.13 Capital Adequacy 44 3.14 Liquidity 44 3.15 Profit and Loss 44 3.16 Performance Rating 45 3.17 Compliance with Supervisory and Regulatory Requirements 46 3.18 Performance of Microfinance Banks 47 3.19 Agency Banking 48 3.20 Credit Reference Bureaus 50 3.21 Money Remittance Providers 51 CHAPTER FOUR DEVELOPMENTS IN SUPERVISORY FRAMEWORK 4.1 Introduction 55 4.2 Proposed Amendments to the CBK Act 55 4.3 Host Country Assessments 55 4.4 Developments in Anti-Money Laundering and Combating Financing of Terrorism 56 4.5 International Financial Reporting Standards 57 4.6 Developments in Digital Lending/Credit 58 CHAPTER FIVE REGIONAL AND INTERNATIONAL DEVELOPMENTS AND INITIATIVES 5.1 Introduction 61 5.2 Regional and International Initiatives 61 5.3 Kenyan Banks Regional Footprint 69 CENTRAL BANK OF KENYA II BANK SUPERVISION ANNUAL REPORT 2020 TABLE OF CONTENTS TABLES 1 Ownership and Asset Base of Commercial Banks 4 2 Commercial Banks Market Share Analysis 5 3 ATM Networks 7 4 Microfinance Banks Balance Sheet Analysis 8 5 Microfinance Banks Market Share Analysis 9 6 Distribution of Foreign Exchange Bureaus 10 7 Growth of Deposit Account Holders Compared to Number of Staff 22 8 Mobile Transactions Data 23 9 Business Activities Facilitated by Representative Offices 24 10 Residential Mortgage Market Survey 2020 26 11(a) MSME Lending Compared to Total Banking Sector Loan Portfolio 28 11(b) MSMEs Deposits Held in Commercial Banks 28 11(c) MSMEs Deposits Held in Microfinance Banks 29 11(d) Income from MSMEs Lending as a proportion of Total Banking Sector Income 29 11(e) MSME Credit Facilities – Asset Quality 2019 – 20 (Ksh. Billion) 29 12 Employment in the Banking Sector 32 13 World Economic Outlook Projections 35 14 Real GDP Growth 36 15 Exchange Rate Developments 38 16 Fiscal Developments 40 17 Global Balance Sheet Analysis 41 18 Sectoral Distribution of Loans, Loan Accounts and Non-Performing Loans (NPLs) 42 19 Risk Classification of Loans and Advances 43 20 Asset Quality and Provisions 44 21 Capital Adequacy Ratios 44 22 Income and Expenditure Items as a Percentage of Total Income/Total Expenses 45 23 Banking Sector Performance Rating 46 24 Performance of Microfinance Banks 48 25a Agency Banking Data for Banks – Number of Transactions 49 25b Agency Banking Data for Banks – Value of Transactions 49 26 Number of Credit Reports Requested Since August 2015 51 27 Distribution of Outlets and Agents of MRPs 52 28 Total Remittance Inflows and Outflows of MRPs in 2019 and 2020 53 29 Branches of Kenyan Banks Subsidiaries in the Region 69 30 Regional Employee Count 70 31 Total Assets of Subsidiaries in Host Country 70 32 Deposit Distribution across Host Countries 71 CENTRAL BANK OF KENYA BANK SUPERVISION ANNUAL REPORT 2020 III TABLE OF CONTENTS CHARTS 1 Structure of the Banking Sector 2 2 Bank Supervision Organogram 4 3 Ownership and Asset Base of Commercial Banks 5 4 Commercial Banks Market Share 6 5a Microfinance Banks Functional Areas of Innovation 31 5b Commercial Banks Functional Areas of Innovation 31 6 Developments in Inflation 37 7 Interest Rates 38 8 Developments in Current Accounts 39 9 Risk Classification of Loans and advances 43 10 Total Monthly Credit Reports requested by Banks 51 11 Percent of Gross Loans per Host Country 71 12 Regional Profitability 72 APPENDICES i Banking Sector Balance Sheet 73 ii Banking Sector Profit and Loss Account 74 iii Banking Sector Other Disclosures 75 iv Banking Sector Market Share 76 v Banking Sector Profitability 77 vi Banking Sector Gross Loans and Non-Performing Loans (NPLs) 78 vii Banking Sector Capital and Risk-Weighted Assets 79 viii Banking Sector Access to Financial Services 80 ix Banking Sector Protected Deposits 81 x Microfinance Banks Balance Sheet 82 xi Microfinance Banks Profit and Loss Account 83 xii Microfinance Banks Other Disclosures 84 xiii Residential Mortgages Market Development Survey, December 2020 85 xiv Banking Circulars Issued in 2020 86 xv A Summary of Signed MOUs 87 xvi Banks Branch Network by County 88 xvii Directory of Commercial Banks and Non-Banks 89 xviii Directory of the Microfinance Banks 98 xix Directory of Credit Reference Bureaus 100 xx Directory of Foreign Exchange Bureaus 101 xxi Directory of Money Remittance Providers 105 CENTRAL BANK OF KENYA IV BANK SUPERVISION ANNUAL REPORT 2020 CENTRAL BANK OF KENYA BANK SUPERVISION ANNUAL REPORT 2020 V GOVERNOR’S MESSAGE The banking sector entered 2020 on a strong footing banking sector loans. The over 400,000 loan accounts poised to rebound after interest rate caps were repealed in restructured range from your neighborhood hair salon, 2019. At that point, the coronavirus (COVID-19) pandemic individuals, MSMEs, large flower farms, airlines, hotel that was to define 2020 did not feature in global discourse. chains to shopping malls and transport companies. At the Central Bank of Kenya (CBK), we had keenly followed the onset of the virus in China in early 2020 and As a testament to its resilience in a year dominated by its devastating spread to Europe and the United States. It COVID-19, the sector closed the year with a total capital was just a matter of time before it landed on our shores. adequacy ratio of 19.0 percent above the statutory minimum capital adequacy ratio of 14.5 percent. The We therefore moved quickly in tandem with the sector’s liquidity ratio of 54.5 percent was above the government, the banking sector and other players to statutory minimum of 20 percent. Total net assets grew institute measures to mitigate the adverse impact of by 12.4 percent from Ksh.4.8 trillion in December 2019 the pandemic when it landed in Kenya in March. The to Ksh.5.4 trillion in December 2020. Customer deposits measures were intended to facilitate Kenyans to use digital increased by 13.6 percent from Ksh.3.5 trillion in December financial services to mitigate the COVID-19 infection risks, 2019 to Ksh.4.0 trillion in December 2020. ensure continued operations of the banking sector while safeguarding the health and safety of bank staff, customers On the economic front, the onset of the pandemic was and the public. Further, the measures were intended to delayed in Sub-Saharan Africa, but by year end, the region provide relief to borrowers adversely impacted by the was battling an unprecedented health and economic effects of the pandemic. crisis. This was underpinned by stringent containment measures instituted to control the pandemic. On the Building on business continuity and pandemic response domestic front, the Kenyan economy contracted in the first guidance from CBK, the banking sector during the three quarters of 2020 following the devastating impact of pandemic ‘kept the lights on.’ While ensuring the health COVID-19. The contraction was mainly driven by significant and safety of customers and staff, over 90 percent of the declines in the Services sector that bore the brunt of the approximately 1,500 bank branches across the country COVID-19 containment measures. remained open. The over 30,000 bank staff have been in the frontline serving Kenyans even in areas locked down As we build back from COVID-19, CBK’s vision remains one to contain the pandemic. of a banking sector that is responsible, disciplined and aligned to customers’ needs. Accordingly, banks continue To minimize the health risk and support Ministry of Health to operationalize the four pillars of the vision: customer ‘stay at home’ protocols, banks have enhanced the use of centricity, risk-based credit pricing, transparency and digital channels.
Load more

Recommended publications
  • Ecobank Group Annual Report 2018 Building
    BUILDING AFRICA’S FINANCIAL FUTURE ECOBANK GROUP ANNUAL REPORT 2018 BUILDING AFRICA’S FINANCIAL FUTURE ECOBANK GROUP ANNUAL REPORT 2018 ECOBANK GROUP ANNUAL REPORT CONTENTS 05 Performance Highlights 08 Ecobank is the leading Pan-African Banking Institution 09 Business Segments 10 Our Pan-African Footprint 15 Board and Management Reports 16 Group Chairman’s Statement 22 Group Chief Executive’s Review 32 Consumer Bank 36 Commercial Bank 40 Corporate and Investment Bank 45 Corporate Governance 46 Board of Directors 48 Directors’ Biographies 53 Directors’ Report 56 Group Executive Committee 58 Corporate Governance Report 78 Sustainability Report 94 People Report 101 Risk Management 141 Business and Financial Review 163 Financial Statements 164 Statement of Directors’ Responsibilities 165 Auditors’ Report 173 Consolidated Financial Statements 178 Notes to Consolidated Financial Statements 298 Five-year Summary Financials 299 Parent Company’s Financial Statements 305 Corporate Information 3 ECOBANK GROUP ANNUAL REPORT 3 PERFORMANCE HIGHLIGHTS 5 ECOBANK GROUP ANNUAL REPORT PERFORMANCE HIGHLIGHTS For the year ended 31 December (in millions of US dollars, except per share and ratio data) 2018 2017 Selected income statement data Operating income (net revenue) 1,825 1,831 Operating expenses 1,123 1,132 Operating profit before impairment losses & taxation 702 700 Impairment losses on financial assets 264 411 Profit before tax 436 288 Profit for the year 329 229 Profit attributable to ETI shareholders 262 179 Profit attributable per share ($): Basic
    [Show full text]
  • Equipment Leasing in Africa Handbook of Regional Statistics 2017 Including an Overview of 10 Years of IFC Leasing Intervention in the Region
    AFRICA LEASING FACILITY II Equipment Leasing in Africa Handbook of Regional Statistics 2017 Including an overview of 10 years of IFC leasing intervention in the region © 2017 INTERNATIONAL FINANCE CORPORATION 2121 Pennsylvania Avenue, N.W., Washington, DC 20433 All rights reserved. First printing, March 2018. This document may not be reproduced in whole or in part without the written consent of the International Finance Corporation. This information, while based on sources that IFC considers to be reliable, is not guaranteed as to accuracy and does not purport to be complete. The conclusions and judgments contained in this handbook should not be attributed to, and do not necessarily represent the views of IFC, its partners, or the World Bank Group. IFC and the World Bank do not guarantee the accuracy of the data in this publication and accept no responsibility for any consequence of its use. Rights and Permissions Reference Section III. What is Leasing? and parts of Section IV. Value of Leasing in Emerging Economies are taken from IFC’s “Leasing in Development: Guidelines for Emerging Economies.” 2005, which draws upon: Halladay, Shawn D., and Sudhir P. Amembal. 1998. The Handbook of Equipment Leasing, Vol. I-II, P.R.E.P. Institute of America, Inc., New York, N.Y.: Available from Amembal, Deane & Associates. EQUIPMENT LEASING IN AFRICA: ACKNOWLEDGEMENT Acknowledgement This first edition of Equipment Leasing in Africa: A handbook of regional statistics, including an overview of 10 years of IFC leasing intervention in the region, is a collaborative efort between IFC’s Africa Leasing Facility team and the regional association of leasing practitioners, known as Africalease.
    [Show full text]
  • Strategic Management Practices Adopted by Abc Bank to Gain Competitive Advantage
    STRATEGIC MANAGEMENT PRACTICES ADOPTED BY ABC BANK TO GAIN COMPETITIVE ADVANTAGE BY KANDUGU EPHANTUS KAMAU A RESEARCH PROJECT SUBMITTED IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION, SCHOOL OF BUSINESS, UNIVERSITY OF NAIROBI NOVEMBER, 2017 DECLARATION This research project is my original work and has not been submitted for examination in any other university. Signature:…………………………… Date:……………………… KANDUGU EPHANTUS KAMAU REG. NO. D61/81199/2015 This research project has been submitted for examination with my approval as a University Supervisor. Signature:…………………………….. Date:………………………. PROF. BITANGE NDEMO DEPARTMENT OF BUSINESS ADMINISTRATION SCHOOL OF BUSINESS UNIVERSITY OF NAIROBI ii ACKNOWLEDGEMENTS In a very humble way I appreciate the Almighty God. All this would not have been possible were it not for his mighty care and providence. My deepest appreciation goes to my Supervisor Prof. Bitange Ndemo for his unwavering support with this project. Thank you so much for your reliability, availability, insight, effort and in an intelligent and constructive way you challenged my thoughts on the topic of this thesis. Your energy is out of this world and wish you well in all your endeavors. Special thanks to my Boss Mr. Robinson Gitau Thuku who accorded me conducive environment during my research. I would like to appreciate my friends and classmates Mike Kabita, Dennis Murikwa, Judy Amagolo, Owuor Odeny, Jackson Maithya, Eric and Kang’ethe whom we exchanged ideas from time to time. I also wish to appreciate the effort Prof. Martin Ogutu for assisting in moderating this piece of work. iii DEDICATION This project is dedicated to my parents, Margaret Wanjiku and Daniel Macharia for their encouragement.
    [Show full text]
  • KDIC Annual Report 2012
    Annual Report & Accounts th For Annualthe Year Report ended &3 0Accounts June 20 12 th For the Year ended 30 June 2012 Deposit Protection DepositFund Protection Board i Fund Board i Vision To be a best-practice deposit insurance scheme Mission The Year under Review under Year The Corporate Social Responsibility Social Corporate To promote and contribute to public confidence in the stability of the nation’s 23iii 12 12 financial system by providing a sound safety net for depositors of member institutions. Strategic Objectives • Promote an effective and efficient deposit insurance scheme • Enhance operational efficiency • Promote best practice Strategic Pillars • Strong supervision and regulation • Public confidence • Prompt problem resolutions • Public awareness • Effective coordination Corporate Values • Integrity • Professionalism • Team work • Transparency and accountability • Rule of Law Corporate Information The Year under Review under Year The Corporate Social Responsibility Social Corporate 12iv 23 Deposit Protection Fund Board CBK Pension House Harambee Avenue PO Box 45983 - 00100 Nairobi, Kenya Tel: +254 – 20 - 2861000 , 2863841 Fax: +254 – 20 - 2211122 Email : [email protected] Website: www.centralbank.go.ke Bankers Central Bank of Kenya, Nairobi Haile Selassie Avenue PO Box 60000 - 00200 Nairobi Auditors KPMG Kenya 16th Floor, Lonrho House Standard Street PO Box 40612 - 00100 Nairobi Table of Contents Statement from the Chairman of the Board..................................................................................6
    [Show full text]
  • Bank Code Finder
    No Institution City Heading Branch Name Swift Code 1 AFRICAN BANKING CORPORATION LTD NAIROBI ABCLKENAXXX 2 BANK OF AFRICA KENYA LTD MOMBASA (MOMBASA BRANCH) AFRIKENX002 3 BANK OF AFRICA KENYA LTD NAIROBI AFRIKENXXXX 4 BANK OF BARODA (KENYA) LTD NAIROBI BARBKENAXXX 5 BANK OF INDIA NAIROBI BKIDKENAXXX 6 BARCLAYS BANK OF KENYA, LTD. ELDORET (ELDORET BRANCH) BARCKENXELD 7 BARCLAYS BANK OF KENYA, LTD. MOMBASA (DIGO ROAD MOMBASA) BARCKENXMDR 8 BARCLAYS BANK OF KENYA, LTD. MOMBASA (NKRUMAH ROAD BRANCH) BARCKENXMNR 9 BARCLAYS BANK OF KENYA, LTD. NAIROBI (BACK OFFICE PROCESSING CENTRE, BANK HOUSE) BARCKENXOCB 10 BARCLAYS BANK OF KENYA, LTD. NAIROBI (BARCLAYTRUST) BARCKENXBIS 11 BARCLAYS BANK OF KENYA, LTD. NAIROBI (CARD CENTRE NAIROBI) BARCKENXNCC 12 BARCLAYS BANK OF KENYA, LTD. NAIROBI (DEALERS DEPARTMENT H/O) BARCKENXDLR 13 BARCLAYS BANK OF KENYA, LTD. NAIROBI (NAIROBI DISTRIBUTION CENTRE) BARCKENXNDC 14 BARCLAYS BANK OF KENYA, LTD. NAIROBI (PAYMENTS AND INTERNATIONAL SERVICES) BARCKENXPIS 15 BARCLAYS BANK OF KENYA, LTD. NAIROBI (PLAZA BUSINESS CENTRE) BARCKENXNPB 16 BARCLAYS BANK OF KENYA, LTD. NAIROBI (TRADE PROCESSING CENTRE) BARCKENXTPC 17 BARCLAYS BANK OF KENYA, LTD. NAIROBI (VOUCHER PROCESSING CENTRE) BARCKENXVPC 18 BARCLAYS BANK OF KENYA, LTD. NAIROBI BARCKENXXXX 19 CENTRAL BANK OF KENYA NAIROBI (BANKING DIVISION) CBKEKENXBKG 20 CENTRAL BANK OF KENYA NAIROBI (CURRENCY DIVISION) CBKEKENXCNY 21 CENTRAL BANK OF KENYA NAIROBI (NATIONAL DEBT DIVISION) CBKEKENXNDO 22 CENTRAL BANK OF KENYA NAIROBI CBKEKENXXXX 23 CFC STANBIC BANK LIMITED NAIROBI (STRUCTURED PAYMENTS) SBICKENXSSP 24 CFC STANBIC BANK LIMITED NAIROBI SBICKENXXXX 25 CHARTERHOUSE BANK LIMITED NAIROBI CHBLKENXXXX 26 CHASE BANK (KENYA) LIMITED NAIROBI CKENKENAXXX 27 CITIBANK N.A. NAIROBI NAIROBI (TRADE SERVICES DEPARTMENT) CITIKENATRD 28 CITIBANK N.A.
    [Show full text]
  • What Happens to Microfinance Clients Who Default?
    What Happens to Microfinance Clients who Default? An Exploratory Study of Microfinance Practices January 2015 LEAD AUTHOR Jami Solli Keeping clients first in microfinance CONTRIBUTORS Laura Galindo, Alex Rizzi, Elisabeth Rhyne, and Nadia van de Walle Preface 4 Introduction 6 What are the responsibilities of providers? 6 1. Research Methods 8 2. Questions Examined and Structure of Country Case Studies 10 Country Selection and Comparisons 11 Peru 12 India 18 Uganda 25 3. Cross-Country Findings & Recommendations 31 The Influence of Market Infrastructure on Provider Behavior 31 Findings: Issues for Discussion 32 Problems with Loan Contracts 32 Flexibility towards Distressed Clients 32 Inappropriate Seizure of Collateral 33 Use of Third Parties in Collections 34 Lack of Rehabilitation 35 4. Recommendations for Collective Action 36 ANNEX 1. Summary of Responses from Online Survey on Default Management 38 ANNEX 2. Questions Used in Interviews with MFIs 39 ANNEX 3. Default Mediation Examples to Draw From 42 2 THE SMART CAMPAIGN Acknowledgments Acronyms We sincerely thank the 44 microfinance institutions across Peru, AMFIU Association of Microfinance India, and Uganda that spoke with us but which we cannot name Institutions of Uganda specifically. Below are the non-MFIs who participated in the study ASPEC Asociacion Peruana de as well as those country experts who shared their knowledge Consumidores y Usuarios and expertise in the review of early drafts of the paper. BOU Bank of Uganda Accion India Team High Mark India MFIN Microfinance Institutions
    [Show full text]
  • Commercial Banks Directory As at 30Th April 2006
    DIRECTORY OF COMMERCIAL BANKS AND MORTGAGE FINANCE COMPANIES A: COMMERCIAL BANKS African Banking Corporation Ltd. Postal Address: P.O Box 46452-00100, Nairobi Telephone: +254-20- 4263000, 2223922, 22251540/1, 217856/7/8. Fax: +254-20-2222437 Email: [email protected] Website: http://www.abcthebank.com Physical Address: ABC Bank House, Mezzanine Floor, Koinange Street. Date Licensed: 5/1/1984 Peer Group: Small Branches: 10 Bank of Africa Kenya Ltd. Postal Address: P. O. Box 69562-00400 Nairobi Telephone: +254-20- 3275000, 2211175, 3275200 Fax: +254-20-2211477 Email: [email protected] Website: www.boakenya.com Physical Address: Re-Insurance Plaza, Ground Floor, Taifa Rd. Date Licenced: 1980 Peer Group: Medium Branches: 18 Bank of Baroda (K) Ltd. Postal Address: P. O Box 30033 – 00100 Nairobi Telephone: +254-20-2248402/12, 2226416, 2220575, 2227869 Fax: +254-20-316070 Email: [email protected] Website: www.bankofbarodakenya.com Physical Address: Baroda House, Koinange Street Date Licenced: 7/1/1953 Peer Group: Medium Branches: 11 Bank of India Postal Address: P. O. Box 30246 - 00100 Nairobi Telephone: +254-20-2221414 /5 /6 /7, 0734636737, 0720306707 Fax: +254-20-2221417 Email: [email protected] Website: www.bankofindia.com Physical Address: Bank of India Building, Kenyatta Avenue. Date Licenced: 6/5/1953 Peer Group: Medium Branches: 5 1 Barclays Bank of Kenya Ltd. Postal Address: P. O. Box 30120 – 00100, Nairobi Telephone: +254-20- 3267000, 313365/9, 2241264-9, 313405, Fax: +254-20-2213915 Email: [email protected] Website: www.barclayskenya.co.ke Physical Address: Barclays Plaza, Loita Street. Date Licenced: 6/5/1953 Peer Group: Large Branches: 103 , Sales Centers - 12 CFC Stanbic Bank Ltd.
    [Show full text]
  • MTN Rwandacell Plc ANNUAL REPORT 2020
    MTN Rwandacell Plc ANNUAL REPORT 2020 1 MTN Rwandacell Plc ANNUAL REPORT 2020 2 MTN Rwandacell Plc ANNUAL REPORT 2020 TABLE OF CONTENTS Section 1: 2020 Overview 1.1 Chairperson's Statement 7 1.2 Chief Executive Officer's Statement 8 Section 2: Financial Highlights i) Summary Income Statement 11 ii) Summary Balance Sheet 11 iii) Summary Cashflow Statement 12 Section 3: Non-Finanical Highlights i) Customer Market Share 15 ii) Commercial Performance Indicators 15 Section 4: Strategy Update 19 Section 5: Corporate Social Investment - MTN Foundation 24 Section 6: Corporate Governance 6.1 Board of Directors 28 6.2 Board Committees 28 6.3 Director Fees and Allowances Paid in the year 2020 29 6.4 Current Board Director Profiles and Directorship Disclosure 31 6.5 Executive Management Organizational Structure 35 6.6 Employees 38 Y’ello3 MTN Rwandacell Plc ANNUAL REPORT 2020 Section 7: Audited Financial Statements for Year Ending 2020 7.1 Reports Directors’ Report 41 Statement of Directors’ Responsibilities 43 Report of the Independent Auditor 44 7.2 Financial Statements Statement of Comprehensive Income 48 Statement of Financial Position 49 Statement of Changes in Equity 50 Statement of Cash Flows 51 Notes 52 Section 8: Attachments 8.1 Profiles of New Directors 106 8.2 Annual General Meeting Notice 109 8.3 Proxy Forms 112 4 MTN Rwandacell Plc ANNUAL REPORT 2020 2020 Overview SECTION 1 of MTN Rwanda 5 MTN Rwandacell Plc ANNUAL REPORT 2020 Belief Statement Everbody deserves the benefits of a modern connected life Vision Leading digital solutions for Rwanda's progress 6 MTN Rwandacell Plc ANNUAL REPORT 2020 Chairperson’s statement It is my pleasurepleasure toto presentpresent toto youyou thethe firstfirst AnnualAnnual ReportReport of MTN Rwandacell PLC since it was listedlisted inin MayMay thisthis year.year.
    [Show full text]
  • Annual Report 2019 East African Development Bank
    Your partner in development ANNUAL REPORT 2019 EAST AFRICAN DEVELOPMENT BANK 2 2019 ANNUAL REPORT EAST AFRICAN DEVELOPMENT BANK EAST AFRICAN DEVELOPMENT BANK EAST AFRICAN DEVELOPMENT BANK ANNUAL REPORT 2019 3 2019 ANNUAL REPORT EAST AFRICAN DEVELOPMENT BANK CORPORATE PROFILE OF EADB Uganda (Headquarters) Plot 4 Nile Avenue EADB Building P. O. Box 7128 Kampala, Uganda Kenya Country office, Kenya 7th Floor, The Oval Office, Ring Road, Rwanda REGISTERED Parklands Westland Ground Floor, OFFICE AND P.O. Box 47685, Glory House Kacyiru PRINCIPAL PLACE Nairobi P.O. Box 6225, OF BUSINESS Kigali Rwanda Tanzania 349 Lugalo/ Urambo Street Upanga P.O. Box 9401 Dar es Salaam, Tanzania BANKERS Uganda (Headquarters) Standard Chartered –London Standard Chartered – New York Standard Chartered - Frankfurt Citibank – London Citibank – New York AUDITOR Standard Chartered – Kampala PricewaterhouseCoopers Stanbic – Kampala Certified Public Accountants, Citibank – Kampala 10th Floor Communications House, 1 Colville Street, Kenya P.O. Box 882 Standard Chartered Kampala, Uganda Rwanda Bank of Kigali Tanzania Standard Chartered 4 2019 ANNUAL REPORT EAST AFRICAN DEVELOPMENT BANK EAST AFRICAN DEVELOPMENT BANK ESTABLISHMENT The East African Development Bank (EADB) was established in 1967 SHAREHOLDING The shareholders of the EADB are Kenya, Uganda, Tanzania and Rwanda. Other shareholders include the African Development Bank (AfDB), the Netherlands Development Finance Company (FMO), German Investment and Development Company (DEG), SBIC-Africa Holdings, NCBA Bank Kenya, Nordea Bank of Sweden, Standard Chartered Bank, London, Barclays Bank Plc., London and Consortium of former Yugoslav Institutions. MISSION VISION OUR CORE To promote sustain- To be the partner of VALUES able socio-economic choice in promoting development in East sustainable socio-eco- Africa by providing nomic development.
    [Show full text]
  • Final-Actis Inreview Lores Single.Pdf
    Actis in review 2013 The positive power of capital Contents 03 Where we are now 08 Portfolio at work Banque Commerciale du Rwanda 10 Portfolio at work Garden City 13 Actis at a glance 14 Portfolio at work Bellagio 17 Portfolio at work Globeleq Mesoamerica Energy 20 Portfolio at work Asiri Group 23 Portfolio at work AGS 26 Regions and sectors 28 Investments 29 Investors 30 Portfolio companies 34 The team São Paulo, Brazil Welcome This report summarises the events and achievements of Actis in the last twelve months. Whether we are sharing the story of the Rwandan bank in which we invested nearly a decade ago, or the ATM chain rolling out across India, the tale we tell is of strong businesses, in attractive sectors, in some of the most populous and dynamic parts of the world. Our goal is to give you a sense of the breadth of our work, and the depth of our expertise. Providing insight into the energy and promise of those high growth markets which have already begun to define this century. I hope you enjoy reading this year’s annual review. Paul Fletcher Senior Partner Accra, Ghana Where we are now If the financial meltdown corporate governance, health and safety, labour law, and environmental and social practices. of August 2008 taught They must also be highly profitable. us anything it is that Our investment professionals have this in mind everything connects. The from the first dollar and day of the investment. Everything they do is focused on creating value. fortunes of a Manhattan Their work is supplemented by a dedicated team of in-house consultants who do nothing but headquartered bank, a implement best practices, and share what they know works from their past experiences in the string of late night phone same sectors.
    [Show full text]
  • Registered Attendees
    Registered Attendees Company Name Job Title Country/Region 1996 Graduate Trainee (Aquaculturist) Zambia 1Life MI Manager South Africa 27four Executive South Africa Sales & Marketing: Microsoft 28twelve consulting Technologies United States 2degrees ETL Developer New Zealand SaaS (Software as a Service) 2U Adminstrator South Africa 4 POINT ZERO INVEST HOLDINGS PROJECT MANAGER South Africa 4GIS Chief Data Scientist South Africa Lead - Product Development - Data 4Sight Enablement, BI & Analytics South Africa 4Teck IT Software Developer Botswana 4Teck IT (PTY) LTD Information Technology Consultant Botswana 4TeckIT (pty) Ltd Director of Operations Botswana 8110195216089 System and Data South Africa Analyst Customer Value 9Mobile Management & BI Nigeria Analyst, Customer Value 9mobile Management Nigeria 9mobile Nigeria (formerly Etisalat Specialist, Product Research & Nigeria). Marketing. Nigeria Head of marketing and A and A utilities limited communications Nigeria A3 Remote Monitoring Technologies Research Intern India AAA Consult Analyst Nigeria Aaitt Holdings pvt ltd Business Administrator South Africa Aarix (Pty) Ltd Managing Director South Africa AB Microfinance Bank Business Data Analyst Nigeria ABA DBA Egypt Abc Data Analyst Vietnam ABEO International SAP Consultant Vietnam Ab-inbev Senior Data Analyst South Africa Solution Architect & CTO (Data & ABLNY Technologies AI Products) Turkey Senior Development Engineer - Big ABN AMRO Bank N.V. Data South Africa ABna Conseils Data/Analytics Lead Architect Canada ABS Senior SAP Business One
    [Show full text]
  • ANNUAL REPORT and Financial Statements
    2014 ANNUAL REPORT and Financial Statements Contents1 Board members and committees 2 Senior Management and Management Committees 4 Corporate information 6 Corporate governance statement 8 Director’s report 10 Statement of directors’ responsibilities 11 Report of the independent auditors 12 Statement of profit or loss and other comprehensive income 13 Statement of financial position 14 Statement of changes in equity 15 Statement of cash flows 16 Notes to the financial statements 17 Board Members and Committees 2 Directors Mr. Akif H. Butt Ms. Shiru Mwangi Non Executive Director Non Executive Director Christine Sabwa Mr. Robert Shibutse Non Executive Director Executive Director Mr. Martin Ernest Mr. Abdulali Kurji Non Executive Director Non Executive Director Mr. Sammy A. S. Itemere Ms. Jacqueline Hinga Managing Director Head-Governance & Company Secretary Mr. Dan Ameyo, MBS, OGW - Chairman of the Board Mr. Dan Ameyo serves as the Chairman of Equatorial Commercial Bank Limited. He is a practicing advocate and legal consultant on trade and integration law in Kenya and within the East African Community and COMESA region. Mr. Ameyo serves as Director of Mumias Sugar Company Limited. He is an advocate of the High Court of Kenya, a member of the Law Society of Kenya (LSK) and a Fellow of the Chartered Institute of Arbitrators in London. He served as a State Counsel in the Attorney General’s chambers. He also served as the Post Master General and Chief Executive Officer of Postal Corporation of Kenya. Mr. Ameyo holds a Bachelor of Laws (LL.B) (Hons) Degree from the University of Nairobi and a Master of Laws (LL.M) from Queen Mary, University of London.
    [Show full text]