Company Profile

Your Vision Our Mission

 Your Vision Our Mission

About Us
AIB Capital Ltd (formerly Afrika Investment Bank) is a
Kenyan limited company, licensed by the Capital Market
Authority and is engaged in the business of stock brokerage,
bond dealing and corporate finance advisory.

We leverage talent and networks to service businesses

and investors looking to capitalize on the East African
growth story and its vibrant financial sector.

Vision
To mobilize the resources of Africa and beyond to
transform the continent through wealth creation.

Licensed by CMA Member of NSE

Mission
Empowering investors to discover and exploit the vast
potential for wealth creation in Africa.

Licensed CDA Member of KASIB

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Your Vision Our Mission
Stockbroking
As a licensed stockbroker, AIB provides a platform for local
and foreign investors to buy and sell shares of companies
listed on the Nairobi Securities Exchange. Our team of
experienced equities dealers are trained to act with integrity
and professionalism at all times and in the best interest of
the client. Our trading philosophy is anchored on precise and
timely execution of clients orders while maintaining the
highest standards of transparency, client confidentiality and
independence.
our
services
Bonds Dealing
Our bond dealing desk offers investors’ access to fixed
income securities such as T-bills, T-bonds, and Corporate
bonds issued in the primary market and subsequently trading
in the secondary market. Our bond dealers command a
combined experience of over 20 years in the Kenyan market
with a solid track record of delivering value to fixed income
investors through regular insight on interest rates
movements and market sentiment as well as first class
execution of trades.
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 Your Vision Our Mission

Corporate Finance Advisory

Our Corporate Finance practice has built expertise and a track record
of experience spanning over 15 years in the areas of structured
finance, corporate restructuring, M&A advisory, private
placement and rights issues among others. As a member of
the Nairobi Securities Exchange and licensed Nominated
Advisor (NomAd), AIB’s strength lies in its ability to act as a
financial advisor, placement agent and/or sponsoring
stockbroker for companies raising capital through the
main market or the GEMS segment of the NSE.

Derivatives Discretionary Portfolio Management

As a licensed trading member of the Nairobi Securities
Exchange, AIB has built internal capacity aimed at
capitalizing on the opportunities available in the Kenyan
derivatives market once it is operationalized.
Discretionary Portfolio Management (DPM) services are
provided to High Net Worth Individuals through our
dedicated team of relationship managers who make
investment decisions on behalf of the client after
establishing the client’s risk profile, investment objectives
and tax considerations.

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Your Vision Our Mission

Other services
AIB Online
Our Online Share Trading Platform (OST) is built to increase accessibility
and proximity to stockbrokerage services as it allows for secure
e-transactions, real time market prices and order placement and most
importantly, a 24-hour access to the share trading account. Through
the OST, investors are able to access various reports such as
portfolio valuations, transaction statements and stock holding
reports. Moreover, our mobile trading solutions enable clients to
trade using their mobile phones by dialing *543# . Through this
platform, clients are able to fund their trading accounts,
receive payments and get market information from their
mobile devices.

AIB Research CDSC Services

AIB offers unbiased and comprehensive research, analysis and As a registered Central Depository Agent for the Central
portfolio construction recommendations, backed by reliable Depository and Settlement Corporation AIB assists its clients in
data while leveraging its unique understanding of the Kenyan accounts opening, share transfers, security immobilization and
Capital Markets to meet individual clients’ needs. Our research pledges of shares among others.
team is among the highly qualified in the Kenyan Capital
Markets with analysts having gone through the rigorous CFA
curriculum and the Chartered Institute for Securities and
Investment (CISI) training program.

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 Your Vision Our Mission

clients
profile
Institutional clients Retail clients
Local asset managers High Net Worth
Foreign fund managers Retail clients
Banks & Insurance companies Diaspora
Corporates SACCOs
Government institutions Registered groups

our core
values Integrity
Promptness
Innovation
Relationships
People Passion
Strong to serve

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Your Vision Our Mission
Selected transaction Experience
CLIENT
Mount Kenya Investments
Safaricom
Wananchi Group
Housing Finance
Karen Hospital
Media Company
City Finance Bank
Hotel Group
KenGen
Athi River Mining
Micro Finance Company
Kitisuru Urban Residential Development
Edible Oils CompanyLeasing Company in Kenya
Leasing Company in Kenya
Lincensed DTM in Kenya
Kenya Safari Lodge Holdings (KSLH)
Heri Limited
Law Africa Publishers
Juice Manufacturing Company
Jamii Bora Bank rights issue
ROLE VALUE OF TRANSACTION
Transaction Advisor (Private Equity Placement) Equity transaction of Ksh 264m
Joint Lead Sponsoring Broker for Initial Public Offer (IPO) Kshs 50 Billion
Lead Broker and Financial advisor Private Placement
Lead Manager for Balance Sheet restructuring and fund Kshs 10 Billion
raising inclusive of a possible in-market merger
Lead arranger for equity and debt raising Kshs 200 Million equity and Kshs 100 Million debt
Lead Transaction Advisor (acquisition by a Private Equity fund) Kshs 2 Billion
Lead Transaction Advisor (due diligence and subsequent Undisclosed
acquisition by Private Equity players)
Transaction Advisor on equity and debt capital raising Kshs 2 Billion equity and debt
Co-sponsoring broker on IPO Kshs 8 Billion
Co-sponsoring broker for Corporate Bond Kshs 800 Million
Transaction advisor on Merger, Business Plan, strategy Undisclosed
formulation and CBK registration as a Micro Finance Bank
Financial Advisor Undisclosed
Buy side Advisor on acquisition and post deal integration Confidential
Private Equity Placement: deal structuring and business valuation Confidential
Due diligence services (Buy side mandate) Confidential
Transaction advisory Undisclosed
Acqusition of a property company in Kenya Kshs 600 Million
Sell side Transaction Advisor in connection with the Undisclosed
acquisition by Longhorn Publishers of a majority stake
Buy side Advisor on acquisition and post deal integration Undisclosed
Co sponsoring stockbroker Kshs. 1 billion
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 Your Vision Our Mission

research
capability
First class research is at the centre of AIB’s value proposition to institutional
and retail clients as we believe this is a differentiating factor in generating
superior returns.

Below is a suite of research products offered to our clients:

Coverage of market performance

• AIB daily, weekly and monthly market reports
• Quarterly macro economic analysis of key market indicators
and events
• Monthly fixed income and inflation report
• Earnings updates and corporate actions
• Market commentaries on key events of material nature

In addition to the above, our research team provides investors Below is a sample list of AIB in depth industry analyses
with access to management of listed companies through • Banking sector
conference calls, management meetings and site visits • Insurance sector
• Cement sector
As part of our commitment to superior customer experience, AIB • Utilities (KPLC & Kengen)
has set up a dedicated research desk to build intimate
relationships with our clients and continuously inform their Selected company specific coverage
investment decision process.

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People are our
greatest asset
 Your Vision Our Mission

Our Board
Our Directors have considerable experience across several sectors of the Kenyan business environment.
The Board of Directors of AIB Capital comprises of:

Mr. Linus Gitahi

Chairman

Mr. George Maina Mr.Kibuga Kariithi Mr.Ken Wathome Mr.Peter Mutisya Ms. Catherine Mphutia

AIB Capital operates through a robust corporate governance framework that provides strategic guidance and effective
monitoring of management. The breadth and depth of our Board of Directors are a testimony of our commitment to the
highest standards of corporate governance regulations as set out by the Capital Market Authority.

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Your Vision Our Mission
Management Profile
Paul Wachira Mwai
Chief Executive Officer
Ann Njuguna
Finance & Administration Manager
MBA, Strathmore Business School
Bachelor of Business, University of Southern Queensland.
Investment Management Certificate from UK Society for Investment Professionals
Associate Member of the Chartered Institute of Bankers
Authorized Representative for the Growth Enterprise Market Segment (GEMS)
Paul has over twenty years experience in the financial services industry including fund
management and investment banking. He has worked in various departments within
the Barclays group, including Barclays Merchant Finance Ltd (BMFL) and Barclays
Dealing Centre, before joining the Barclay-trust Investment Services Group in 1998 as a
Fund Manager. He moved to Old Mutual Asset Managers following the acquisition of
Barclay-Trust by Old Mutual in October 2002 as a Senior Portfolio Manager and Asset
Allocation Strategist.
Paul joined AIB Capital in February 2012 from African Alliance Investment Bank where
he was Chief Executive of the Asset Management Company . He is the current
chairman of the Kenyan Association of Stockbrokers and Investment Banks (KASIB)
Bsc International Business Administration Bsc Accounting, Oxford Brookes University
ACCA, Strathmore School of Accountancy
Ann has over nine years experience in accounting and audit having work as a senior
accountant, Operations at Citibank Hedge Fund Services in Bermuda as well as a
financial analyst, corporate accounting and investment at Old Mutual Kenya .
Ann started her career at PKF as an audit assistant in 2003. Her last placing was as a
Senior Manager – Special Project & Internal Audit at Apex Africa Capital Ltd. She joined
AIB in October 2012.
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 Your Vision Our Mission

Dealing Team: equities

He has a bachelors degree in Economics from University of Nairobi and is a Certified

ATS Trader. Bernard has over fifteen years’ experience in the financial services sector
from roles ranging from secured lending to SME banking with Standard Chartered Bank
and rising through the dealing ranks at AIB Capital Ltd. Mr. Kungu is responsible for
advising clients on the viable investment opportunities, evaluating their needs and
expectations and striving to meet them, monitoring market conditions by liaising with
the research department, efficient and timely execution of clients’ orders and organiz-
ing promotional campaigns to targeted groups with a view of increasing AIB market
share and awareness. He also handles high net worth investors by assisting them in
constructing investment portfolios in line with their investment objectives.
Bernard Kung’u
Chief Dealer

Bernard joined AIB in August 2012. His first stint was in the corporate finance depart-
ment where he was involved in deal sourcing and thereafter in the bonds department
before joining the equities dealing team. He holds a Bachelor’s degree in Economics &
Statistics from University of Nairobi and he is a Certified Chartered Accountant (ACCA).
He is also a Certified ATS Trader and a CISI level II. He currently handles institutional
clients.

Benard Gichuru
Head Institutional Trading

Brian joined AIB Capital in June 2017. Previously he was a Financial Markets Analyst at
Futures First Kenya where he traded Soy Complex futures on Chicago Mercantile
Exchange. He is presently pursuing the CFA charter where he is a Level II candidate.

Brian Tanui
Equities & Derivatives Trader
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Your Vision Our Mission

Dealing Team: Bonds

Stephen has over three years experience in banking having worked with National Bank
of Kenya Ltd in the credit administration department before joining Credit Bank in the
treasury department. He holds Bsc Actuarial Science from Jomo Kenyatta University
(JKUAT) and is currently pursuing the Chartered Financial Analysts program (CFA) Level
II and an MBA .

Stephen Ngunje
Fixed Income Trader

Crispus has a wealth of experience in the capital markets having worked with a number
of stockbrokers, a custodian and an insurance firm including Equity Bank and Phoenix
Assurance. He holds Bachelors of Education (Economics & Business studies) from
Kenyatta University and is currently pursuing Chartered Financial Analysts program
(CFA) Level II. He is a Certified ATS Trader and Authorized Representative for the
Growth Enterprise Market Segment (GEMS).

Crispus Otieno
Fixed Income Trader

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Corporate Finance team
Dr. Belgrad Kenne
Corporate Finance Consultant
Samuel Ndirangu
Investment Analyst
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Your Vision Our Mission
Belgrad is a corporate finance professional specializing in structured finance, balance
sheet restructuring, business valuations and M&A advisory . He started his career at
Centre Court Monaco a Private Equity boutique where he was responsible for deal
origination in East Africa. In 2010, he joined MIATV Holdings a company operating in
Mauritius, Tanzania, Kenya, Uganda, Ghana and Zimbabwe, as COO before serving as a
consultant for Swensee, a Paris-based Africa-focused corporate finance advisory firm.
Belgrad received his undergraduate degree in Management from the Riga Technical
University; a Master’s in Finance, Hedge Funds and Private Equity from the Internation-
al University of Monaco and a Doctorate in Business Administration from the Paris
School of Business. Belgrad has served as adjunct professor of finance at the Interna-
tional University of Monaco and is a mentor at Bid Network, a platform, that prepares
Emerging Markets entrepreneurs for investors.
Samuel holds a Bachelor of Economics and Statistics from the University of Nairobi and
is a CFA level II candidate. Samuel joined AIB Capital in October 2017 and has been
involved in company valuation, investment research and analysis.
Your Vision Our Mission

Research team

Willis joined the team as senior research analyst in February 2018 from Sterling Capital
Limited where he held a similar position. His focus is to provide independent and
objective investment research on fixed income and equities. He has previously worked
with life insurance at Sanlam Holdings and corporate banking with Sidian Bank. Willis is
currently pursuing CFA Level III. He has a BA in Economics and Mathematics from the
University of Nairobi and ACI Dealing Certificate.

Wllis Nalwenge
Senior Research Analyst

Victor has three years experience in the research field having begun his career in the
Social and Market research field with Infotrak Research & Consulting. He currently
works as an Analyst at AIB Capital specializing in Equity valuation and financial
modeling. He currently holds a BA in Economics and Mathematics from Egerton Univer-
sity and is a CFA Level III candidate.

Victor Koech
Research Analyst

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 Your Vision…Our Mission

For more information:

Tel: 2212206, 0711 047 000 | Fax: 020 2210500
Email: info@aibcapital.com
Finance House, 9th Floor | Loita street | P.O Box 11019 - 00100 Nairobi
Website: www.aibcapital.com