Abridged prospectusv9

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Abridged prospectusv9

  1. 1. Company under the security code “BRIT” in the Main Investment Market Segment (“MIMS”). As a matter of policy, the CMA assumes no responsibility for the correctness of any statements or opinions made or reports contained in the Prospectus. Approval of the Offer and/or Listing is not to be taken as an indication of the merits of the Company or of the Offer Shares.British-American Investments Company (Kenya) Limited(Formerly Britak Investments Company Limited) (“the Advisers to the IssuerCompany”) Joint Lead Transaction Lead Sponsoring Broker Advisors(Incorporated in Kenya on 26 July 1995 under the Companies Act KPMG Kenya Standard Investment Bank(CAP.486), Registration Number C.66029) And And NIC Capital Limited Kestrel Capital(East Africa)Abridged prospectus in respect of Receiving Banks Legal AdvisorAn Offer for subscription by British-American Investments Equity Bank Limited Daly & Figgis AdvocatesCompany (Kenya) Limited of 650,000,000 ordinary shares of par Andvalue KES 0.10 each at an Offer price of KES 9.00 per share (The Standard Chartered Bank Kenya“Offer Shares”) constituting a Public Offer of 30.23% of the issued Limitedordinary shares of the company on the Main Investment Market Reporting Accountant RegistrarSegment of the Nairobi Stock Exchange (“NSE”). PricewaterhouseCoopers Image Registrars LimitedThis abridged prospectus is issued in compliance with the Capital Media Communication Agency Public RelationsMarkets Act, (Cap 485A) and the Capital Markets (Securities) Scanad Kenya Limited Hill & Knowlton East Africa(Public Offers, Listing and Disclosures) Regulations 2002. LimitedImportant Notice Features of the Offer Timetable for the OfferThis document is an Abridged Prospectus inviting the public to Activities Completion details Dateateapply for an offer for Subscription (‘Offer’) in the share capital ofBritish-American Investments Company (Kenya) Limited (‘the 1 Offer Opening and launch 12 July 2011Company’). If you are in doubt as to the meaning of the contents ofthis abridged Prospectus or as to what action to take, please consult 2 Offer Closing and last date and time for 5 Augustyour investment bank, financial advisor, stockbroker or other acceptance and payment for New Shares 2011professional advisor, duly authorised under the Capital Markets Act, 3 Allotment and announcement of the Offer 19 Augustwho specialises in advising on the acquisition of shares and other results 2011securities. 4 Commencement of electronic crediting of 22 August CDS accounts and issuance of share 2011The Company has published a prospectus as required by section certificates to Authorised Selling Agents6(1) of The Capital Markets (Securities) (Public Offers, Listing and 5 Commencement of payment of Refunds 22 AugustDisclosures) Regulation 2002 (as amended in 2008), as well as the through Electronic Funds Transfer or Refund 2011rules and regulations made hereunder and the Rules of the Nairobi ChequesStock Exchange. A copy of the Prospectus and the ApplicationForm together with the documents required by Section 43 of the 6 Deadline for crediting of the CDS Accounts 26 AugustCompanies Act to be attached hereto, have been delivered to the 2011Registrar of Companies at the Attorney General’s Office for 7 Listing and Commencement of Trading (two 30 Augustregistration and to the Capital Markets Authority for approval. The weeks after allotment) at the NSE 2011Prospectus and the Shares Application Forms are available atthe offices of the Authorised Selling Agents listed in this Reasons for the Offerdocument. Prospective investors should read the prospectus in full The Board continues to focus very closely on the strategic areas thatto obtain a complete appreciation of the matters contained therein the Group should pursue in order to optimise shareholder value. Inbefore making any decision. this respect, the existing shareholders and the Board have resolved to raise additional capital through an IPO which will facilitate the Group’s growth by financing the specific strategies andIf you wish to apply for shares in terms of the offer for sale then you opportunities identified by management.must complete the procedures for application and payment set out inSection 1.19 of the prospectus.Application has been made to the Capital Markets Authority(“CMA”) and approval has been granted for the public offering andlisting of the ordinary shares of the Company on the Nairobi StockExchange (“NSE”). Subject to compliance with the NSE ListingRules, the NSE will admit listing of the ordinary shares of the 1
  2. 2. The proceeds of the Offer are expected to be utilised as follows: • Large-scale expansion of the insurance market in Kenya and the Use of Funds Amount in KES region, leveraging on innovative products such as micro- (Mn) insurance, distribution channels including bancassurance and Regional expansion 1,000 well established strategic alliances with Equity Bank and Development and expansion of operations 1,280 Housing Finance. Combined market penetration for the in the Core Kenyan market insurance industry is currently only 2.8% in Kenya. This Property development 2,500 compares to 12.9% in South Africa, 7.1% in Namibia and 5.2% Redemption of debt 750 in Mauritius; Expenses of the Offer 320 • Potential for significant further organic growth of the existing Total 5,850 insurance and investment management business based on existing competencies and drivers;Key Offer Statistics Details Statistics • Focus on cross-selling of general insurance to life policy Offer Price per Offer Share KES 9 holders and between investment and insurance clients; Par value of each Offer Share KES 0.10 Total number of Offer Shares 650,000,000 • Large scale investment in land and property development, Total number of shares post offer assuming full 2,150,000,000 including both commercial buildings and affordable housing. subscription This will be allied to the provision of innovative financial products to assist potential homeowners; and Gross proceeds from the Offer KES 5,850,000,000 • Collective Investment Schemes - expansion of existing unit Estimated net proceeds received by the KES trust offerings to include an array of structured funds including Company 5,550,000,000 international and real estate funds Dividend per share(“DPS”) for the twelve (12) KES 6.67 month period ended 31 December 2010 before Trusted, blue-chip brand, strong heritage and market leader share split • Continuous presence in the Kenyan market since 1965; Dividend per share (“DPS”) for the twelve (12) KES 0.13 month period ended 31 December 2010 after • Predominantly Kenyan owned; share split Earnings per share (“EPS”) for the twelve (12) • Track record of steady growth driven by experienced local KES 90.46 management team and directors; month ended 31 December 2010 before share split • Strong balance sheet and steady cash flow growth; Earnings per share (“EPS”) for the twelve (12) KES 1.81 month ended 31 December 2010 after share split • Market leader for Ordinary Life business with 25.2% market Implied PE (historical) based on the EPS for the 4.97 share in 2009; and twelve (12) month period ended 31 December • A leading provider of composite insurance in the Kenyan 2010 market. Eligibility to Participate in the OfferKey investment themes1 The offer consists of four (4) categories as follows:The acquisition of a stake in British-American represents an i) Employees, Agents and Individual Life Policy Holdersattractive investment opportunity offering the following: Employee: Any person who is an employee of the GroupProfitable and cash generative business during the Offer period.• British American Insurance Company ( “The Insurance Agent: Any person who is contracted as an agent to sell the Company” ) is one of the most profitable in terms of Products of the Group during the Offer period. underwriting in the Kenyan insurance market; and Individual life policy holder: Any person who holds an individual life policy with the Insurance Company.• The Insurance Company posted the highest net premium income and second highest gross investment return in the life ii) East Africa Retail Investors insurance sector in 2009; In relation to an individual, means a natural person who is aExciting growth opportunities citizen of an East African Community Partner State; and in relation to a body corporate, means a company incorporated• Geographical expansion into Tanzania, Rwanda and South under the Companies Act of Kenya or such similar statute of an Sudan to complement the expansion into Uganda which has East African Community Partner State in which citizens of an already commenced; East African Community Partner State or the Government of an East African Community Partner State have beneficial interest in one hundred per centum of its ordinary shares for the time being or any other body corporate established or incorporated in an East African Partner State under the provisions of any1 Market Statistics sourced from AKI Insurance Industry Annual Report 2009 written law. 2
  3. 3. iii) Qualified Institutional Investors Means Collective Investment Schemes licensed by the Capital Terms and Conditions of Application of Offer Shares Markets Authority under the Capital Markets Act, Investment Applicants should read carefully the terms and conditions of Banks licensed by the Capital Markets Authority under the application of offer shares as set out in section 1.19 of the Capital Markets Act, schemes licensed by the Retirement Prospectus as well as the general guidelines for the completion of Benefits Authority under the Retirement Benefits Act (No 3 of the Application Form as provided in the British-American 1997) and Insurance Companies licensed by the Commissioner Investment Company (Kenya) Limited IPO Application Form. . of Insurance under the Insurance Act (Cap 487) of the Laws of Kenya; Collective Investment Schemes and Pension Funds Payment for Offer Shares in excess of KES 1,000,000 must be registered under the Capital Markets Authorities and effected by RTGS to the Receiving Bank provided that the Retirement Benefit Authorities of East African Community Applicant completes the relevant section of the Application Form. Partner States; Institute Nationale De Securite’ Social (INSS) EFT and RTGS payments should be made to (XX), SWIFT Code of Burundi, National Social Security Fund (NSSF) of Rwanda, (XX), and Account No. (XX), Account Name: “BRIT IPO”, National Social Security Fund (NSSF) of Uganda, National Reference: Application Form Number (XX). Social Security Fund (NSSF) of Tanzania and Parastatals Pension Fund (PPF) of Tanzania. Information on the Issueriv) Foreign Investors Incorporation Foreign Investors means any person who is not an East British-American Investments Company (Kenya) Limited African Retail Investor or Qualified Institutional Investor. (Formerly Britak Investments Company Limited) was incorporated in Kenya on 26 July 1995 as a private company under the Companies Act (Cap.486), Registration Number C.66029.Allocation Policy The Company wishes to achieve a balanced distribution of the Shareholding structure pre/post IPO Offer Shares between institutions, companies and individual The table below sets out the shareholding structure prior to the offer members of the public in addition to ensuring that Employees, and anticipated structure after the issue. Agents and Individual Life Policy Holders of the Group have the opportunity to participate in the Offer. Shareholder Current Current Post IPO Number of Shareholding Sharehol shares ding Category Number of % of Offer Offer Shares Shares Employees, Agents and 19,500,000 3% British American 452,504,000 30.17% 21.05% (Kenya) Holdings Individual Life Policy Holders Limited East African Retail Investors 195,000,000 30% Equity Holdings 405,000,000 27.0% 18.84% Qualified Institutional Investors Limited 240,500,000 37% Jimnah M. Mbaru 300,000,000 20.0% 13.95% Foreign Investors 195,000,000 30% Benson I. Wairegi 99,496,000 6.63% 4.63% Total 650,000,000 100% Filimbi Limited 90,000,000 6.00% 4.19% Peter K. Munga 75,000,000 5.0% 3.49%Minimum and Maximum Application Size James N Mwangi 75,000,000 5.0% 3.49%There is no maximum Application size by any one Applicant. The Simon I.Wairegi 3,000,000 0.20% 0.14%minimum Application sizes are as follows: IPO Shares 650,000,000 - 30.23% Investor Category Minimum Thereafter in Subscription Size multiples Total 2,150,000,000 100% 100% Employees, Agents and 2,000 100 Individual Life Policy Holders East African Retail Investors 2,000 100 Qualified Institutional 10,000 1,000 Investors Foreign Investors 10,000 1,000 3
  4. 4. services landscape built up over more than four decades; and a deepThe Company’s Board of Directors understanding of the needs of our customers and business partners. Name Position Nationality Leveraging on its expertise and position as a market leader, and the Mr. Benson Irungu. Wairegi Group Managing Kenyan distribution infrastructure of its strategic partners Equity Bank and Director Housing Finance, the Insurance Company has played a pivotal role in the development of bancassurance and micro-insurance in the Mr. James Njuguna Mwangi Non Executive Director Kenyan Kenyan market and this has supported the growth of its insurance Mr. Jimnah Mwangi Mbaru Non Executive Director Kenyan business and the wider market. Through the development of innovative new products distributed through the above network, it Mr. John Nicholas Ashford Chairman British Hodges seeks to fundamentally redefine the scale and scope of the insurance sector in Kenya and the wider region, and establish micro-insurance Mr. Peter Kahara Munga Non Executive Director Kenyan as the next major growth segment in the insurance market. Asset Management CompanyBritish-American Investments Company (Kenya) Limited (the“Group”) The principal activities of Asset Management are the provision ofBusiness Overview investment advisory and unit trust and asset management services. From its inception in 2004, Asset Management has grown toThe Group is one of Kenya’s leading financial services providers, become one of the market leaders in Kenya, with funds in excess ofwith operations in life insurance, health insurance and KES 17 billion under management as at 31 December 2010. Assetproperty/casualty insurance products as well as unit trust and asset Management had the largest market share (32.7%) of Unit Trusts asmanagement services. The Group’s insurance business has the at end of December 20105. In terms of discretionary funds underlargest individual life business in Kenya with a market share of management it was ranked among the top ten as at 30 June 20106.25.2% in 20092. The Group’s core business is carried out through itsthree wholly beneficially owned subsidiaries namely; Strategic Equity Investments• British-American Insurance Company (Kenya) Limited British-American also holds strategic equity investments in Equity (“Insurance Company”); Bank and Housing Finance.• British-American Asset Managers Limited (“Asset Equity Bank is a licensed commercial bank with a significant Management”); and presence in Kenya and subsidiaries in Uganda and South Sudan. Equity Bank has also obtained a license to commence business in• Britam Insurance Company (Uganda) Limited (“Britam”) Rwanda. Equity Bank has evolved from a Building Society to one which commenced underwriting insurance business in Uganda of the largest publicly listed companies in Kenya and has the largest in 2010. customer base among commercial banks in the country. It is alsoIn addition, the Group holds an 11.05% strategic equity investment one of the most highly capitalised banks in the region and hasin Equity Bank Limited (“Equity Bank”), one of the largest and received both local and global accolades for its unique andfastest growing banks in Kenya and the region. The Group also transformational financial model. The bank is credited withholds a 16.57% equity stake in the Housing Finance Company of extending banking services to a larger demographic through itsKenya Limited (“Housing Finance”), one of the largest mortgage accessible and flexible microfinance service provision.finance providers in Eastern Africa. Housing Finance is one of the largest mortgage finance providers in the East African region. For over forty-five years, Housing FinanceInsurance Company has been providing its customers with access to mortgage financeThe Insurance Company underwrites a full range of life and non-life for the acquisition, development and improvement of property.insurance risks. It is the largest underwriter of individual life Housing Finance has therefore played a key role in enablinginsurance business and also the second largest underwriter of Kenyans to build, buy and own their homes. It seeks to continuecombined life business (Group Life, Ordinary Life, Unit-Linked along this path with a greater emphasis on low to middle incomeLife and Deposit Administration) in Kenya3. housing solutions.The General Insurance Business has grown significantly in recent Financial Summaryyears, reaching a premium income of KES 1,659 million in 20104. Group Audited Balance SheetOver its long-standing presence in the Kenyan market, the Insurance 2010 2009 2008 2007 2006Company has established a strong, trusted brand in the East African KES’000 KES’000 KES’000 KES’000 KES’000insurance industry. Its success has been based on a number of Shareholders’factors including a large, high calibre sales force (the largest in the funds 10,569,980 5,207,098 6,447,466 5,738,854 1,366,051Kenyan market); wide and innovative distribution channel through Total liabilities 14,791,937 11,108,709 8,630,190 6,488,189 5,428,140bancassurance; experienced and dedicated directors and Total assets 25,361,917 16,315,807 15,077,656 12,227,043 6,794,191management team; an in-depth knowledge of the Kenyan financial2 AKI Insurance Industry Annual Report 2009 (this is the most current year for whichindustry information is available) 53 Report of the Insurance Regulatory Authority 2009 Published Accounts and Joint Lead Transaction Advisors Analysis4 6 Annual Report and Financial Statements of the Insurance Company 2010 RBA and Management Information 4
  5. 5. The Group had shareholders funds in excess of KES 10.5 billion as Forecast financial performance for the year ending 31at 31 December 2010 (KES 5.2 billion in 2009) and the Group’s December 2011total assets amounted to KES 25.4 billion (KES 16.3 billion in Forecast2009). This represents tremendous growth from shareholders funds 31-Dec-11of KES 1.3 billion and total assets of KES 6.8 billion in 2006 KES’000without any injection of fresh capital. Gross earned premiums 5,541,244Group Audited Profit and Loss Account Less: reinsurance premium ceded (839,888) 2010 2009 2008 2007 2006 Net earned premiums 4,701,356 KES’000 KES’000 KES’000 KES’000 KES’000 Fund management fees 294,371 Gross earned premiums 4,333,428 3,782,606 3,167,289 2,509,775 2,018,213 Net earned premiums and management fee 4,995,727 Less: Investment income 1,759,736 reinsurance Commissions earned 194,456 premium ceded (674,672) (504,552) (376,378) (501,311) (385,426) Other income 113,032 Net earned premiums 3,658,756 3,278,054 2,790,911 2,008,464 1,632,787 Net income 7,062,951 Fund Claims and policy holder benefits payable 3,486,881 management fees 195,852 118,404 153,683 150,666 68,313 Less: amount recoverable from reinsurers (424,048) Net earned Net claims payable 3,062,833 premiums and management Operating and other expenses 1,716,341 fee 3,854,608 3,396,458 2,944,594 2,159,130 1,701,100 Commissions payable 1,115,107 Investment 2,831,448 income 4,684,634 196,169 509,137 2,492,568 1,109,349 Profit before income tax 1,168,670 Commissions earned 209,514 176,739 196,611 160,986 102,910 Income tax expense (140,532) Other income 220,439 32,135 35,105 37,317 18,454 Profit for the year after tax 1,028,138 Net income 8,969,195 3,801,501 3,685,447 4,850,001 2,931,813 Other comprehensive income 945,895 Claims and Total comprehensive income 1,974,033 policy holder benefits payable 4,084,669 2,134,171 1,718,322 1,571,564 1,578,183 Less: amount recoverable from reinsurers (266,562) (160,676) (156,268) (154,502) (141,610) Net claims payable 3,818,107 1,973,495 1,562,054 1,417,062 1,436,573 Operating and other expenses 1,316,822 1,222,876 921,790 695,205 595,329 Commissions payable 960,677 939,464 861,536 625,556 413,546 2,277,499 2,162,340 1,783,326 1,320,761 1,008,875 Profit before income tax 2,873,589 (334,334) 340,067 2,112,178 486,365 Income tax expense (159,805) (86,789) (97,500) (83,946) (42,066) Profit for the year after tax 2,713,784 (421,123) 242,567 2,028,232 444,299 Dividends proposed/paid 200,000 120,000 120,000 120,000 60,000 5
  6. 6. Key Risks Licensed Investment BanksAs with all investments, investors should be aware that there are 3240000/2227803some risks associated with an investment in the Company as set out shares@dyerandblair.com info@standardstocks.comin the list below. These risk factors (and associated mitigatingfactors) are explained more fully in the prospectus.1. Insurance risk: The risk under any one insurance contract is the possibility that the insured event occurs and the uncertainty of Faida Investment Bank Suntra Investment Bank Ltd amount of the resulting claim. 1st Floor, Windsor House, 10th Floor, Nation Centre, Kimathi2. Market risk: Refers to the potential impact on earnings of University Way Street unfavourable changes in the market driven variables. PO Box 45236, 00100, Nairobi. PO Box 74016, 00200, Nairobi.3. Competition risk: Intense competition in the insurance sector Tel: 2243811-13 Tel: 2870000 and fund management sector could impact adversely on growth info@faidastocks.com info@suntra.co.ke and profitability of the Group.4. Credit risk: Risk that one party to a financial contract will cause a financial loss to the other party by failing to discharge an Licensed Stockbrokers obligation. ABC Capital Ltd Kestrel Capital (E.A) Ltd5. Operational risk: Risk associated with human error, an 5th Floor, IPS Building, Kimathi 5th Floor, ICEA Building, inadequate information system, technology failures, and breach in internal controls, fraud, inadequate training, unforeseen Street Kenyatta Avenue catastrophes and other operational problems that may be PO Box 34137, 00100, Nairobi. PO Box 40005, 00100, Nairobi. encountered within the operating system. Tel : 2246036/2245971 Tel: 2251758/22518936. Information risk: Information risk raises the possibility of harm headoffice@abccapital.co.ke info@kestrelcapital.com being caused to a business as a result of a loss of Afrika Investment Bank Ltd Kingdom Securities Limited confidentiality, integrity or availability of information. 9th Floor, Finance House, Loita Street 5th Floor Co-operative House,7. Underwriting risk: Relate to the uncertainty that at the inception PO Box 11019, 00100, Nairobi. Haile Selassie Avenue of a contract, the ultimate amount of cash flow from premiums, commission, claims and claim settlement expenses Tel: 2210178/2212989 PO Box 48231- 00100, Nairobi. Tel : 3276000Prospective investors should read the prospectus in full to obtain a info@afrikainvestmentbank.com info@kingdomsecurities.co.kecomplete overview of the risks involved before making any Apex Africa Capital Limited NIC Securities Ltdinvestment decision. 4th Floor, Rehani House, Koinange NIC House, Masaba Road Street PO Box 63046, 00200, Nairobi.List of Authorized Selling Agents P.O. Box 43676, 00100, Nairobi. Tel: 2016482/3British-American has appointed specific Authorised Selling Agents Tel: 2242170/2220517in connection with the Offer. These Authorised Selling Agents invest@apexafrica.com invest@nic-capital.comhave signed agency agreements with British-American whichcontain various terms and conditions that each Authorised Selling Licensed StockbrokersAgent is required to comply with. These Authorised Selling Agents Drummond Investment Bank Ltd Reliable Securities Limitedwith regard to British-American IPO are as indicated below. 2nd Floor, Hughes Building, Kenyatta 6th Floor, IPS Building, Kimathi Licensed Investment Banks Avenue, PO Box 45465, 00100, Street African Alliance Ltd NIC Capital Ltd Nairobi. PO Box 50338, 00200, Nairobi. 1st Floor, Trans-national Plaza NIC House, Masaba Road Tel: 318690/318689 Tel:2241350/4/79 Mama Ngina Street PO Box 44599, 00100, Nairobi. Info@drummond.com info@reliablesecurities.co.ke PO Box 27639,00506 Nairobi Tel: 202888000 Tel: 2762000/2762557 Genghis Capital Ltd Sterling Investment Bank Ltd securities@africanalliance.co.ke info@nic-capital.com 5th Floor, Prudential Building, 11th Floor, Finance House, Loita Wabera Street Street CFC Stanbic Financial Services Renaissance Capital (Kenya) P.O Box 1670-00100, Nairobi. P.O. Box 45080, 00100, Nairobi. CFC Stanbic House Ltd Tel : 2337535/36 Tel: 2213914/244077 2nd Floor, CFC Centre, Chiromo 6th Floor, Purshottam Place, info@gencap.co.ke info@sterlingstocks.com Road, PO Box 47198, 00100 Chiromo Road Nairobi. Tel:3638900, PO Box 40560-00100 Nairobi. cfcfs@cfcgroup.co.ke Tel : 3682000/3754422 Dyer & Blair Investment Bank Standard Investment Bank Ltd Ltd 16th floor, ICEA Building, 10th Floor, Loita House, Loita Kenyatta Avenue Street PO Box 13714, 00100, Nairobi. PO Box 45396, 00100, Nairobi. Tel: Tel: 2228963/2228967 6
  7. 7. Commercial Banks Note: That all British-American branches will also collect all theBarclays Bank of Kenya Ltd* Chase Bank Limited* duly filled forms and forward them to Joint Transaction AdvisersBarclays Plaza, Loita Street Riverside Mews, Riverside for processing. The duly filled Application Form can be dropped atPO Box 30120-00100 Nairobi Drive the following British-American Branches:Tel: +254 20 P. O. Box 66015 -00800, British-American Branches3267000/313364/2241270 Nairobi Tel : +254-20- 2774000, NAIROBI 1 HOME OFFICE 2244035 Britak Centre Mr. George KimondoEmail: bbl.contact- Mara/Ragati Road Junction Branch Managercentre@barclays.com Email : info@chasebank.co.ke Upper Hill Ambank House, 10th Floor,Commercial Bank of Africa Limited Consolidated Bank of Kenya PO Box 30375, 00100 Nairobi University Way Tel: (020)2833000/2710927 PO Box 46942-00100 NairobiMara and Ragati Roads, Upper Hill Limited Fax: (020)2717626/2714927 Tel: (020)2226998/2223287P. O Box 30437 00100 Nairobi Consolidated Bank House, E-mail: british-american@british- Fax: (020)2224691Tel: +254 20 2884000/ 2734555 Koinange Street american.co.ke E-mail: nairobi1@british-Fax: +254 20 2734616 P.O. Box 67124-00200, Nairobi Website: www.british-american.co.ke american.co.ke Tel: +254 20 2222051/2220175 Fax: +254-020-340864 WESTLANDS NAIROBI 3Email: inqueries@cba.co.ke Email: koinange@consolidated- Mr. George Karanja Mr. Joseph Waithaka bank.com Branch Manager Branch ManagerEquity Bank Ltd* Family Bank Soin Arcade, Westlands Phoenix House, Kenyatta PO Box 20480-00200 Nairobi AvenueEquity Centre, Hospital Road Fourways Tower, Muindi Tel: (020) 3744393/3750730 PO Box 20664-00200 NairobiPO Box 75104-00200 Nairobi Mbingu Street, Fax: (020) 3743628 Tel: (020)2224153/2224312Tel: +254-20 2262000/2263000 P.O Box 74145 – 00200, E-mail: westlands@british- Fax: (020)2217071 Nairobi american.co.ke E-mail: nairobi3@british- american.co.ke Tel: +254 20 318173/318940 Fax: +254 20 318174Email: info@equitybank.co.ke Email: info@familybank.co.keNational Bank of Kenya Limited* NIC Bank Limited* NAIROBI 4 NAIROBI 5National Bank Builiding NIC House, Masaba RoadHarambee Avenue Mr. Timothy Rintari Ms Njeri Njomo P. O Box 44599-00100, Branch Manager Branch ManagerP.O. Box 72866 00200-City Square,Nairobi Nairobi Timau Plaza, Arwings Kodhek Road Ambank House, 19th Floor,Tel: +254 20 2828000 Tel: +254 20 2888000 PO Box 21428-00505 Nairobi University WayFax: +254 20-311444/222304 Tel: (020) 3860453/4/9 PO Box 46942-00100 Nairobi Fax:+254 20 2888505E-Mail: info@nationalbank.co.ke Fax: (020) 3860452 Tel: (020) 2741030 Email: info@nic-bank.com E-mail: nairobi4@british- Fax: (020)2741012Standard Chartered Bank Kenya Limited* american.co.keChiromo, 48 Westlands Road E-mail: nairobi5@british-P.O. Box 98683-80100, NairobiTel:+254 20 329 300 EMBU Mr. Bernard Mwanzia THIKAEmail: info@sc.com Branch Manager Mr. Milton Wambugu Consolidated Bank Building, Kenyatta Branch Manager Highway Thika Arcade, Kenyatta PO Box 1668-60100 Embu Avenue Tel: (068) 31839/31458 PO Box 1487-01000, Thika Fax: (068) 31864 Tel: (067) 21866/22768 Fax: (067) 22794 E-mail: embu@british-american.co.ke E-mail: thika@british- american.co.ke 7
  8. 8. NYERI MERUMr. James Githaiga B.Ed C.O.P. Mr. Richard WanyiriBranch Manager Branch ManagerCo-operative Bank Building, Kenyatta Cooperative Bank House, KenyattaRoad HighwayPO Box 16-10100 Nyeri PO Box 1224-60200 MeruTel: (061) 2032154 Tel: (064) 32434Fax: (061)2032764 Fax: (064) 31312E-mail: nyeri@british-american.co.ke E-mail: meru@british- american.co.keNAKURU KISUMUMs. Jacqueline Kitinga Mr. Evans MusunzarBranch Manager Branch ManagerCK Patel Building, Kenyatta Avenue Jubilee House, Oginga OdingaPO Box 304-20100 Nakuru Road/Ang’awa AvenueTel:(051) 2212200 PO Box 1111-40100 KisumuFax: (051) 2217260 Tel: (057) 2024981E-mail: nakuru@british- Fax: (057) 2024547american.co.ke mailto: E-mail: kisumu@british- american.co.ke mailto: ELDORETKISII Mr. David MaizsMr. George Magomere Branch ManagerBranch Manager Imperial Court Building,Uhuru Plaza, Kisii/Kisumu Road Nairobi RoadPO Box 252-40200 Kisii PO Box 1117-30100 EldoretKisii Tel: (053) 2030770Tel: (058) 30555 Fax: (053)2062914Fax: (058) 30488E-mail: kisii@british-american.co.ke E-mail: eldoret@british- american.co.keMOMBASAMr. Charles Muriithi BScBranch ManagerBiashara Bank Building, NyerereAvenuePO Box 9013-80100 MombasaTel: (041) 22228602/2220321Fax: 041 2223558E-mail: mombasa@british-american.co.ke 8

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