Killing the NIC Move Brand and why i think it was a bad idea…

I had a conversation with someone about move one of the most brilliant concepts/ products in Kenyan banking…and NIC bank killed it because it was too successful….

How now????? still pained years later…

BrandKemistry

NIC was incorporated in Kenya on 29th September 1959, when Standard Bank Limited and Mercantile Credit Company Limited (Mercantile) -both based in the United Kingdom – jointly formed the company. The company was amongst the first non-bank financial institutions to provide hire purchase and installment credit finance facilities in Kenya.
NIC became a public company in 1971 and is currently quoted on the Nairobi Stock Exchange with approximately 22,000 shareholders. Barclays Bank of Kenya Limited acquired 51% of NIC’s total shares through the acquisition of Mercantile in the 1970s and Standard’s shareholding in NIC in the 1980s. Between 1993 and 1996, BBK divested its shares, selling 38% of its shares to the public in 1994, and the remaining 20% in 1996 to the First Chartered Securities Group (FCS).

In the local market NIC Bank was very well known as the Asset Financing Bank which had be a large piece of…

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