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How Ahmednasir Started Multibillion Bank Without Taking a Loan

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Abdikadir, a Harvard trained lawyer, is also Ahmednasir’s partner at Ahmednasir, Abdikadir & Company Advocates – and a former legal advisor to President Uhuru Kenyatta. 

“I was having a chit-chat with the former Mandera Central Mp,Ahmednasir,, a really brilliant guy, and he suggested the idea and we thought it would work,” the lawyer revealed in a past interview. 

“Starting a business using credit is not a good idea, I wouldn’t do it myself. You have to generate enough seed money to start your business without borrowing. 

“I have never taken a loan in my life. Business should also serve a greater cause than just making a profit, “ he stated in a past interview.

Upon meeting all the requirements, the CBK granted them approval to conduct the business of a bank.https://6fa7206fc14213ef241c546e95f47a09.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html

As is required by law, this was followed by the acquisition of the primary location of the bank, IT systems and other necessary operating facilities as well as the recruitment of staff for the institution.

CBK officials were then invited to the business premises to conduct an inspection of the property and systems and the partners paid the requisite fees needed for a license.

In September 2008, former Finance Minister John Michuki exempted the bank from certain sections of the Banking Act in order to enable First Community Bank Limited to offer products that are Sharia-compliant.

Within six years of operation, the bank had an asset base of Ksh12.5 billion and more than 100,000 customers.

The bank owns the FCB Mihrab building in Kilimani which serves as its head office.

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Ngina Kenyatta gives birth to president Uhuru’s third grandchild

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News reaching us from the grapevine is that president Uhuru Kenyatta’s daughter was at a city hospital yesterday to give birth. 

Our source who works at the hospital said, “Ngina Kenyatta is giving birth there. She’s already at the hospital.”

Her mother, first lady Margaret Kenyatta, was also spotted at the hospital yesterday evening.

Ngina Kenyatta has not been seen in public for many months prompting speculation as to her whereabouts. The interesting news is that, late last month Ngina got married to the son of a famous business tycoon.

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Former CS Wario sentenced to 6 years in jail or pay Ksh.3.6M fine

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The former Cabinet Secretary risks up to 6 years in prison if the fine is not paid.

Hassan Wario, the former Sports Cabinet Secretary, has been fined Ksh.3.6 million by a Nairobi court after being found guilty of corruption, abuse of office, and misappropriation of funds during the 2016 Rio Olympics.

The former Sports CS was charged with 4 counts, the first count is engaging in a project without prior planning contrary to Section 45 (2) (c) as read with sections 48 (1) of the Anti-Corruption and Economic Crimes Act No. 3 of 2003.

The other three counts were abuse of office contrary to Section 46 as read with Section 48 of the Anti-Corruption and Economic Crimes Act No. 3 of 2003 with particulars that he improperly conferred a benefit on three persons by including them on the list of delegation to Rio, Brazil for Olympic Games 2016.

The magistrate noted that there was wastage of resources adding that the budget for the games needs to be tailored. She directed that not everyone involved in the planning should travel.

The former Sports CS was charged with 4 counts, the first count is engaging in a project without prior planning contrary to Section 45 (2) (c) as read with sections 48 (1) of the Anti-Corruption and Economic Crimes Act No. 3 of 2003.

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World remembers 9/11 as Biden joined by Obama and Clinton mark America’s darkest day

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Two decades after hijacked airliners smashed into New York City’s World Trade Center and the Pentagon outside Washington, America and the world are honouring the nearly 3,000 lives lost.

It is also a day to reflect on how the trauma of September 11, 2001, helped to shape modern society.

The centrepiece of events sees the US President visiting three sites associated with the attacks.

He is currently at ground zero in lower Manhattan at the September 11 Memorial, where crowds have lined the streets to the sounds of the national anthem performed by the Young People’s Chorus of New York.

Bagpipes were then played before a moment of silence was observed at 8.46am (GMT 1.46pm) – the time American Airlines Flight 11 crashed into the North Tower.

After that, family members began reciting the names of 2,977 victims, an annual ritual that will last four hours.

This was broken up by emotional speeches, as well as similar silences to mark the second plane – United Airlines Flight 175 – hitting the South Tower 18 minutes later.

And then for when American Airlines Flight 77 struck into the western façade of the Pentagon in Arlington, Virginia at 9.37am (2.37pm GMT), and United Airlines Flight 93 – which was heroically crashed by passengers who regained control – at 10.03am (3.03am GMT).

In video footage captured by the Mirror’s Andy Lines, a fire engine was seen incredibly being dispatched on an emergency call just two minutes after the first silence was observed.

The crew were seen heroically racing out from FDNY Engine 28/Ladder 11, just as the brave firefighters did from the same station 20 years ago – almost to the minute.

Later on, Biden will go to the Pentagon and to Shanksville, Pennsylvania, where Flight 93 crashed.

The remembrances have become an annual tradition, but today takes on special significance.

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