Equity Bank’s net profit grows 26pc

Equity CEO James Mwangi (centre), Group Chief Operating Officer Julius Kipng’etich and Equity Foundation Managing Director Hellen Gichohi during the announcement of the lender’s third-quarter results in Nairobi on October 30, 2014. PHOTO | DIANA NGILA |  NATION MEDIA GROUP

In Summary

• The earnings were boosted by its subsidiaries in Uganda, Tanzania, South Sudan and Rwanda whose combined net profit of Sh1 billion represented an 80 per cent increase from Sh580.9 million the year before.
• Equity said its net interest margin has been dropping steadily in the past four quarters, from a high of 12.2 per cent in the three months ended December to 10.9 per cent in the three months to September.

By VICTOR JUMA
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Equity Bank posted a 26 per cent jump in net profit in the nine months ended September, helped by increased lending and fees on transactions.

Raila Odinga woos Cord’s Nairobi ward reps

Cord principal Raila Odinga addressing journalists after meeting with the coalition’s city ward representatives at Gracia Gardens in Nairobi on October 29, 2014. PHOTO | EVANS HABIL |  NATION MEDIA GROUP

In Summary

• A recent opinion poll by Ipsos Kenya indicated that the Okoa Kenya campaign had only 38 per cent support among voters.
• The Opposition leader said the party had made Nairobi a major target in its bid for the referendum.

By SAMUEL KARANJA
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Cord leader Raila Odinga on Wednesday moved to woo Nairobi County Assembly members to support the Okoa Kenya referendum campaign.

MPs pass Mining Bill

Workers at a mine in Taita Taveta County. FILE PHOTO | GIDEON MAUNDU |  NATION MEDIA GROUP

In Summary

• The Bill creates a Mineral Rights Board to advise the government and give directions on matters relating to mining and minerals.
• Establishment of the board was meant to address concerns that too much power had been vested in the Mining Cabinet Secretary.

By NATION REPORTER
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The National Assembly has passed a Bill that sets a new framework for managing minerals.

The Bill creates a Mineral Rights Board to advise the government and give directions on matters relating to mining and minerals.

House defers debate on anti-graft law

 

Members of the press outside Integrity Centre, the headquarters of the Ethics and Anti-Corruption Commission, on January 13, 2014. PHOTO | BILLY MUTAI |  NATION MEDIA GROUP

In Summary

• MPs claimed that they were ambushed by the President’s memorandum.
• They refused to proceed with the debate to allow MPs to scrutinise it.

By NATION REPORTER
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The National Assembly has deferred debate on amendments that will see its members suspended from office with a half salary if charged with corruption or any other economic crime.

US commando who killed Osama Bin Laden to reveal identity

This undated file photo shows former Al-Qaeda leader the late Osama bin Laden at an undisclosed place inside Afghanistan. AFP FILE PHOTO 

In Summary

• The Navy SEAL "will share his story of training to be a member of America's elite fighting force and explain his involvement in Operation Neptune Spear.
• The daring nighttime raid on May 2, 2011 saw a team of Navy SEALs in Blackhawk helicopters swooping on Bin Laden's hideout in Abbottabad.

By AFP
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WASHINGTON

The US Navy Seal commando who fired the shots which killed Al-Qaeda chief Osama Bin Laden is to reveal his identity in a Fox News television documentary next month, the network announced Wednesday.

The ride to Mombasa was enjoyable, till potholes from Kanu era returned

 

A section of Mombasa road near Maungu Town being repaired in 2013. FILE PHOTO | GIDEON MAUNDU |  NATION MEDIA GROUP

In Summary

• I have driven on Mombasa road many times and there is no greater pleasure.
• However, Mombasa road today is worse than it has been for almost a decade.

By MUTUMA MATHIU
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Middle-aged men are generally irascible, so please forgive me if I shoot off my mouth too much today.

Government shouldn't worry about civil society – just let them be

 In Summary

• The fact that democracy is the rule of the majority does not necessarily mean the majority is always right. 
• As a good judge told me recently, the limit of the politician is his or her own imagination, but the limit of the courts is the law.
• CSOs are like pimples on the government’s face. They are constantly accusing the government, or correcting the government, or simply doing what the government should be doing.

By LUIS FRANCESCHI
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In democratic governments there is fun, colour, noise, variety and a certain degree of disorder. No democracy has ever produced those perfect army parades of the defunct USSR or the still very much living North Korea.