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KaunganaDoDo
#1181 Posted : Sunday, June 21, 2020 10:36:24 AM
Rank: Member

Joined: 8/6/2018
Posts: 299
VituVingiSana wrote:
Ericsson wrote:
Laikipia county secures ksh.2bn loan facility from KCB to support SMEs hurt by COVID-19
What's the recourse if counties default?

Public Finance Management Act 2012.... Counties can only borrow with Guarantee of the National Government. This is like a Total Risk Guarantee
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obiero
#1182 Posted : Sunday, June 21, 2020 10:50:57 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,217
Location: nairobi
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
Ericsson wrote:
Laikipia county secures ksh.2bn loan facility from KCB to support SMEs hurt by COVID-19
What's the recourse if counties default?

How can a county government default on commercial debt? No revenue? No central government disbursements? Kuwa serious
Countries default.
What's a county?

A county is an smaller administrative unit, under a national state. Only 1 country has defaulted in recent memory, Greece.. And it picked up

KQ ABP 4.26
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Ericsson
#1183 Posted : Sunday, June 21, 2020 12:37:03 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
obiero wrote:
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
Ericsson wrote:
Laikipia county secures ksh.2bn loan facility from KCB to support SMEs hurt by COVID-19
What's the recourse if counties default?

How can a county government default on commercial debt? No revenue? No central government disbursements? Kuwa serious
Countries default.
What's a county?

A county is an smaller administrative unit, under a national state. Only 1 country has defaulted in recent memory, Greece.. And it picked up


Opportunities KCB is taking to hedge on the covid-19 effects.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#1184 Posted : Sunday, June 21, 2020 7:20:21 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
obiero wrote:
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
Ericsson wrote:
Laikipia county secures ksh.2bn loan facility from KCB to support SMEs hurt by COVID-19
What's the recourse if counties default?

How can a county government default on commercial debt? No revenue? No central government disbursements? Kuwa serious
Countries default.
What's a county?

A county is an smaller administrative unit, under a national state. Only 1 country has defaulted in recent memory, Greece.. And it picked up

May 2020: Argentina defaults on bond payments as debt talks heat up
https://www.reuters.com/...ks-heat-up-idUSKBN22Y1TE
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Angelica _ann
#1185 Posted : Sunday, June 21, 2020 7:25:49 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
[quote=Ericsson]Laikipia county secures ksh.2bn loan facility from KCB to support SMEs hurt by COVID-19
What's the recourse if counties default?

How can a county government default on commercial debt? No revenue? No central government disbursements? Kuwa serious
Countries default.
What's a county?

A county is an smaller administrative unit, under a national state. Only 1 country has defaulted in recent memory, Greece.. And it picked up

May 2020: Argentina defaults on bond payments as debt talks heat up
https://www.reuters.com/...s-heat-up-idUSKBN22Y1TE[/quote]

Even our own CBK last month forced investors holding a maturing 1 year tbill to buy/convert to 6 year bond!!!
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Ericsson
#1186 Posted : Thursday, July 02, 2020 9:16:59 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
KCB Bank Kenya acquired Imperial bank Kenya loan book worth ksh.3.2 billion
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ebenyo
#1187 Posted : Thursday, July 02, 2020 11:59:05 PM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
Ericsson wrote:
KCB Bank Kenya acquired Imperial bank Kenya loan book worth ksh.3.2 billion



very tiny amount didn't add much.nbk was better than this.
Towards the goal of financial freedom
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Ericsson
#1188 Posted : Friday, July 03, 2020 12:10:05 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Ebenyo wrote:
Ericsson wrote:
KCB Bank Kenya acquired Imperial bank Kenya loan book worth ksh.3.2 billion



very tiny amount didn't add much.nbk was better than this.


Yes that's why NBK acquisition was done by the holding company
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#1189 Posted : Monday, July 06, 2020 2:46:36 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
https://www.businessdail...492-133yb14z/index.html

The former Kenya Planters Cooperative Union has cleared the remaining Sh185 million that it owed KCB, freeing itself from the receivership chains after nearly a decade.

Chief Administrative Secretary in the Ministry of Agriculture Ann Nyaga said that part of the Sh3 billion received as coffee cherry fund was directed towards debt repayment.

The old Kenya Planters Cooperative Union (KPCU), now defunct, has been under receivership by the bank since 2009 after it failed to honour its financial obligation amounting to over Sh700 million, owed to the lender, lawyers and farmers.

“We received Sh3 billion from the government meant for coffee advanced fund and part of it went towards paying the debt to KCB

,” said Ms Nyaga.

The acting commissioner of cooperatives Geoffrey Njan’ngombe confirmed to the Business Daily that the debt owed had been fully settled.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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heri
#1190 Posted : Wednesday, July 15, 2020 1:05:52 PM
Rank: Member

Joined: 9/14/2011
Posts: 869
Location: nairobi
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