SAVINGS:THE KEY TO INVESTMENT

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SAVINGSTHE KEY TO INVESTMENT

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• PRESENTATION BY WILLY BETT
• KENYA POST OFFICE SAVINGS BANK (POSTBANK)

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KENYA COUNTRY PROFILE

• Kenya is bordered to the north by Sudan and
  Ethiopia,to the east by Somalia, to the west by
  Uganda, to the south by Tanzania and to the South
  East by the Indian ocean
• It covers an area of approximately 224,960sq
  miles
• Currency Shilling
• Languages English and Kiswahili

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COMMERCIAL CITIES

• Nairobi is the capital city and largest
  commercial center in East Africa and houses two
  UN Agencies,UNEP and Habitat
• Other major cities include Mombasa which is
  Kenyas main port and popular holiday city,
  Kisumu, Nakuru and Eldoret.

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POPULATION AND CLIMATE

• It has an estimated population of 31 M Kenyans
  dispersed around the country.
• 25 of this is concentrated in the large cities
  of Nairobi, Mombasa, Kisumu and Nakuru.
• Kenyas warm climate is favorable for tourism
  during the drier season that is between September
  and March

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POSTBANK BACKGROUND

• Postbank is the only savings bank in Kenya
  established to mobilize savings for national
  development .
• Savings services started in 1910, operated under
  the postal services provider.
• Pastbank incorporated in 1978 under its own Act
  CAP 493 B of the laws of Kenya.

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ROLE OF POSTBANK IN THE KENYAN ECONOMY

• Mobilization of savings.
• Facilitation of Micro Enterprise
• Financial Flows.

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MOBILIZATION OF SAVINGS

• 1910 Ordinary Savings Accounts
• 1978 Premium Bonds
• 1981 Save As You Earn
• 1983 Fixed Deposit
• 1991 Premium Savings
• 2000 Bidii Savings

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FACILITATION OF MICRO ENTERPRISE

• Research
• Capacity building
• Rural Banking

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Financial Flows Western Union

• Started in post Bank in 1995 as an agent of
  Western Union Financial Services International
• Is a major foreign exchange earner in Kenya
• Facilitated local investment by Kenyans in
  diaspora

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BENEFITS OF THE SERVICE

• Speed-The fastest way to send money worldwide
• Reliability- transaction protected and assured to
  the right payee
• Trust- Millions of customers around the world
• Convenience-More than 190,000 locations in some
  200 countries.

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CONCLUSIONS

• Savings facilited Investment
• Postbank continues to develop savings and
  remittance services that are affordable and
  convenient to customers both locally and in
  diaspora.

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• Asante Sana
• Thank you