KCB, Kiambu ink Sh1.3bn youth firms financing deal
Tuesday December 15 2020
By SIMON CIURI
Summary
KCB Bank will advance Sh1.3 billion to individuals and start-ups hard-pressed by the pandemic with county government acting as guarantor having deposited Sh138 million to the lender as collateral.
Top tier lender KCB Bank #ticker:KCB has inked a funding deal with Kiambu County government aimed at cushioning local youth and traders against Covid-19 economic shocks.
Under the deal, KCB Bank will advance Sh1.3 billion to individuals and start-ups hard-pressed by the pandemic with county government acting as guarantor having deposited Sh138 million to the lender as collateral.
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Imported cars (PHOTO: FILE)
NAIROBI, KENYA: The Kenya Bureau of Standards (Kebs) has stepped up surveillance to bar car dealers from importing used cars above eight year limit.
In a memo to importers, returning residents, diplomatic staff, and the general public, Kebs said only right-hand drive (RHD) motor vehicles whose year of first registration of from January 1 2014 and later shall be allowed into the country effective January 1, 2021.
It warns that any vehicle registered in 2013 arriving after December 31 will be deemed not to comply with regulations and shall be rejected at the importers expense.
“Vehicles exported to Kenya shall be expected to comply with KS1515:2000-Kenya Code of Practice for inspection of road vehicles while vehicles from countries where Kebs has an inspection agency shall be accompanied with a certificate of roadworthiness issued by the appointed agencies,” read a memo signed by Kebs MD.