Home SK - Stocks, Property, Investment Chamas - Investment Groups BIZ - Small Business Soko - Market Wazua Life About Wazua
SIGN IN REGISTER
Wednesday, Jan 22, 2020
Investor
We’re investing funds for profit. Join us and wazua!
FEATURE  

LATEST DISCUSSIONS
Kenya Economy Watch [2450]
Kenya Airways...why ignore.. [14243]
Potential merger NIC + CBA [201]
Carbacid HY19 [29]
KenGen HY 2019 [359]
Bamburi Cement 2019 [14]
2020 Watch List - Buy/Sell [13]
Amana Capital 'drinks clients money water' [12]
Kenya Power HY 2019 [171]
Banque de Kigali [463]
You never know who's swimming naked until the tide... [28]
Why dustbowl is the future [436]
Safaricom 2019/2020 [214]
Mumias Sugar huge demand [2808]
Treasury Bills and Bonds [1315]
 
Forum Jump
Welcome Guest Search | Active Topics | Log In

2 Pages<12
Nairobi to become a Renminbi clearing house location
mkeiy
#21 Posted : Friday, July 24, 2015 7:44:28 PM
Rank: Member


Joined: 1/27/2012
Posts: 851
Location: Nairobi
murchr wrote:
hisah wrote:
murchr wrote:
CCTV Africa wrote:


Kenyan Bank Hosts China’s Yuan Clearing Centre to Spur Trade

(Xinhua) — A Kenyan bank has opened a new branch that will host a clearing house for Chinese renminbi (RMB) that would allow the settlement of trade deals to help boost economic growth.

The National Bank of Kenya (NBK) said the Premium Branch located at an upscale shopping mall, Yaya Centre, in Nairobi, will benefit traders as it would cut the costs they incur when converting from the Kenyan shilling to the Yuan.

NBK Managing Director Munir Mohamed said during the launch on Wednesday evening that the clearing centre will accelerate trade between the two nations and ensure efficient service.

“We are approaching the issue from a holistic perspective and offering a unique service that will provide an opportunity for traders from Kenya and China to conduct business by making the Chinese currency available without intermediation,” Mohamed said.

He said bilateral trade between Kenya and China which has expanded enormously requires a flawless payment system that does not have to go through another intermediary currency.

“Africa should make sure that the RMB is internationally accepted for conversion from RMB and vice versa in order to balance trade between Africa and China,” Mohamed said.

Experts say the clearing house could boost trade between the two countries by easing commercial transactions as Kenyan exporters normally have payments processed through a lengthy process that involves physically sending Chinese payment cheques back to the country for clearance and payment.


http://cctv-africa.com/2...g-centre-to-spur-trade/

NBK of all banks! d'oh!

Where is KCB??


Munir poached a set of FIERCE guys to work with him at NBK, I am watching his moves @CDE might have got it right on this one. Of interest though do you notice how the local media is in the dark on this...or is it that they don't get its importance?



I would think they simply don't get it.

YaYa Center? Why? Why not CBD? Are they opening it for the local Chinese community ? Shame on you
Angelica _ann
#22 Posted : Friday, July 24, 2015 7:56:01 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,093
mkeiy wrote:
murchr wrote:
hisah wrote:
murchr wrote:
CCTV Africa wrote:


Kenyan Bank Hosts China’s Yuan Clearing Centre to Spur Trade

(Xinhua) — A Kenyan bank has opened a new branch that will host a clearing house for Chinese renminbi (RMB) that would allow the settlement of trade deals to help boost economic growth.

The National Bank of Kenya (NBK) said the Premium Branch located at an upscale shopping mall, Yaya Centre, in Nairobi, will benefit traders as it would cut the costs they incur when converting from the Kenyan shilling to the Yuan.

NBK Managing Director Munir Mohamed said during the launch on Wednesday evening that the clearing centre will accelerate trade between the two nations and ensure efficient service.

“We are approaching the issue from a holistic perspective and offering a unique service that will provide an opportunity for traders from Kenya and China to conduct business by making the Chinese currency available without intermediation,” Mohamed said.

He said bilateral trade between Kenya and China which has expanded enormously requires a flawless payment system that does not have to go through another intermediary currency.

“Africa should make sure that the RMB is internationally accepted for conversion from RMB and vice versa in order to balance trade between Africa and China,” Mohamed said.

Experts say the clearing house could boost trade between the two countries by easing commercial transactions as Kenyan exporters normally have payments processed through a lengthy process that involves physically sending Chinese payment cheques back to the country for clearance and payment.


http://cctv-africa.com/2...g-centre-to-spur-trade/

NBK of all banks! d'oh!

Where is KCB??


Munir poached a set of FIERCE guys to work with him at NBK, I am watching his moves @CDE might have got it right on this one. Of interest though do you notice how the local media is in the dark on this...or is it that they don't get its importance?



I would think they simply don't get it.

YaYa Center? Why? Why not CBD? Are they opening it for the local Chinese community ? Shame on you

Physical location doesn't matter, use of technology.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
MuchNo
#23 Posted : Monday, November 30, 2015 7:50:40 PM
Rank: Member


Joined: 4/3/2008
Posts: 44
Angelica _ann wrote:
mkeiy wrote:
murchr wrote:
hisah wrote:
murchr wrote:
CCTV Africa wrote:


Kenyan Bank Hosts China’s Yuan Clearing Centre to Spur Trade

(Xinhua) — A Kenyan bank has opened a new branch that will host a clearing house for Chinese renminbi (RMB) that would allow the settlement of trade deals to help boost economic growth.

The National Bank of Kenya (NBK) said the Premium Branch located at an upscale shopping mall, Yaya Centre, in Nairobi, will benefit traders as it would cut the costs they incur when converting from the Kenyan shilling to the Yuan.

NBK Managing Director Munir Mohamed said during the launch on Wednesday evening that the clearing centre will accelerate trade between the two nations and ensure efficient service.

“We are approaching the issue from a holistic perspective and offering a unique service that will provide an opportunity for traders from Kenya and China to conduct business by making the Chinese currency available without intermediation,” Mohamed said.

He said bilateral trade between Kenya and China which has expanded enormously requires a flawless payment system that does not have to go through another intermediary currency.

“Africa should make sure that the RMB is internationally accepted for conversion from RMB and vice versa in order to balance trade between Africa and China,” Mohamed said.

Experts say the clearing house could boost trade between the two countries by easing commercial transactions as Kenyan exporters normally have payments processed through a lengthy process that involves physically sending Chinese payment cheques back to the country for clearance and payment.


http://cctv-africa.com/2...g-centre-to-spur-trade/

NBK of all banks! d'oh!

Where is KCB??


Munir poached a set of FIERCE guys to work with him at NBK, I am watching his moves @CDE might have got it right on this one. Of interest though do you notice how the local media is in the dark on this...or is it that they don't get its importance?



I would think they simply don't get it.

YaYa Center? Why? Why not CBD? Are they opening it for the local Chinese community ? Shame on you

Physical location doesn't matter, use of technology.


I had heard that Co-op was supposed to be the Kenyan clearing bank. I also heard that it was going to have to be a bank with state ownership - the Chinese get off that kind of thing... NBK fits, even better than Co-op. Anyway, if it is NBK, that will put them back on the map.
jmbada
#24 Posted : Thursday, January 09, 2020 7:00:50 PM
Rank: Member


Joined: 1/1/2011
Posts: 393
Hi all. Anyone know what has become of this? Especially with the KCB NBK acquisition?
Ericsson
#25 Posted : Friday, January 10, 2020 9:39:37 AM
Rank: Elder


Joined: 12/4/2009
Posts: 7,852
Location: NAIROBI
jmbada wrote:
Hi all. Anyone know what has become of this? Especially with the KCB NBK acquisition?

There is nothing.
Dynamics changed
Users browsing this topic
Guest
2 Pages<12
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Home | . .. Investor | .. . Groups | .. . SME | . . . Market | .. . Club SK | . ..... About Wazua | . .. Search | . ..Sitemap | . ..Support | . ..Disclaimer | . ..Privacy Policy | . ..Terms of Use | . .. Contact Us
Copyright © 2020 Wazua.co.ke. All Rights Reserved.