Tag: Standard Chartered

Standard Chartered Bank Kenya names Kellen Kariuki as new board chair

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KENYA – Kellen Kariuki has been appointed as the new Chairperson of the Board of directors of Standard Chartered Bank Kenya, following the retirement of Engineer Patrick Obath. Her appointment took effect from May 31, 2021. Prior to her appointment to chair the board, she served as an independent non-executive director of the board since her appointment on 10th February 2021. Kellen has a rich experience in the banking and finance industry having served in various top leadership roles at Citi Bank North America for more than 20 years. She was…

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Stanchart backs Devki Steel Mills with US$3m funding as part of its Covid-19 financing initiative

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KENYA – Standard Chartered Bank Kenya, a subsidiary of the British multinational financial conglomerate Standard Chartered headquartered in London, has allocated US$3 million funding to Devki Group which is the bank’s Covid-19 financing initiative to support companies and communities during Covid-19 recovery. Devki utilized part of the financing to supply oxygen cylinders to hospitals across the country which are serving individuals affected by the Covid-19. Devki Group Chairman Narendra Raval, said, ‘’This financing enabled us to fund a noble cause by supplying free oxygen cylinders to both public and private hospitals…

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Liquid Telecom raises US$840m in bond issue

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SOUTH AFRICA – Africa’s leading data, voice and IP provider Liquid Telecom has raised US$840 million in a bond sale to refinance debt and further expansion into Africa. The sale was conducted by joint bookrunners JPMorgan Chase & Co, Standard Chartered and Standard Bank Group, Liquid chief financial officer Kate Hennessy told TechCentral. The amount raised included a US$100-million investment by the International Finance Corp. The offering was 5.5 times oversubscribed, Hennessy said. “The level of interest from high-quality investors has been unprecedented for an African issuer and reflects an…

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Vale mining hires Barclays and Standard Chartered banks to sell coal assets in Mozambique

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MOZAMBIQUE – Vale. SA, world’s largest iron ore producer, has hired investment banks Barclays and Standard Chartered to sell its Mozambique metallurgical and thermal coal mine and port project, have told Club of Mozambique, as the Brazilian miner works to become carbon neutral by 2050. Vale joins top miner BHP BHP.AX, BHPB.L and others who are keen to shed coal, burnt to produce electricity, as global investors ditch holdings in polluting fossil fuels. Vale, the world’s second-biggest iron ore miner, this week agreed to buy out its minority partner in…

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CDC Group commits US$100 to its existing agreement with Standard Chartered

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AFRICA – CDC Group, the UK’s development finance institution and impact investor, has committed an additional US$100 million commitment to its existing master risk participation agreement with Standard Chartered. This new commitment comes at a particularly challenging time as the COVID-19 pandemic has created severe liquidity pressures for banks and businesses across Africa and South Asia, exacerbating the existing pressure on trade finance availability as international banks limit their risk appetite. In this context, development finance institution capital becomes even more critical to maintain trade flows and support economic growth.…

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