GAZETTE NOTICE NO. 9894

PURSUANT to section 25 of the Co-operative Societies Act, and when read with rule 17 (2) of the Co-operative Societies Rules, 2004, the Commissioner for Co-operative Development gives notice that the following firms have been duly authorized to audit co-operative societies during the year 2008. Name Postal Address Telephone Town Ministry of Co-perative Development 40811-00100 020-2731531 Nairobi Achode and Company 1648-00200 020-3743488/0733988600 Nairobi Aggrey and.Company 62494-00200 020-220307/2731431 '' Nairobi Agoroand Associates 43819 020-228348 Nairobi Appolo and Associates 68290-00200 020-240063/65 Nairobi Athman Erry and Company 197 041-2222186/2222184/5 Mombasa B.O. Omollo and Company 44952-00100 020-537755/0722653861 Nairobi Bentleys International 42844-00100 020-3556055 Nairobi Billsmith and Company 21559-00505 020-337833/0722442609 Nairobi Bitta and Associates 46982-00100 020-3506169 Nairobi Charles Otieno and Associates 3729-00200 020-2134586/0722621114 Nairobi Chege Muchunguzi Mwangi and Company 4979-00200 020-2214180/342841 Nairobi Chumo and Associates 1592 0735-752145/0725451726 Kericho C. M. Maingi and Company 28352-00200 020-828998 Nairobi Danson Mwangi and Company 30847-00100 020-249026/240896 Nairobi Deloitte and Touche 40092-00100 020-4441344,4230000 Nairobi DN Waweru and Associates 531-00217 066-72133 Limuru Edwin and Associates 22464-00400 020-252644/0722875942 Nairobi Elijah and Company . 8491-00100 020-2189360/2189370 Nairobi Erastua and Company 55268-00200 020-604931/603195 Nairobi Eric Ngari and Company 69778-00400 020-554228/652351 Nairobi Ernst and Young 44286-00100 020-2715300 Nairobi Esther and Associates 262 0722-347660 Nakuru Gachanga wl-Associates 44635-00100 0202-253887/243108 Nairobi Gachoka and Associates 2443-00200 020-2733354/2733357 Nairobi Gachuna and Associates 52599-00200 020-2073984/250869 Nairobi Gad Wekesa and Associates 34769-00100 020-342468/0733410811 Nairobi Gakoi and Assciciates 1128-00515 0720-602405 Nairobi 170 OctobeT:20011. _ THEKRIYA Name Postal Address Telephone Town Gaited' and Company 1007-00515 020-3420 0 Nairobi Gathura Nduati and Company 51106-00200 020-342810/0722459692 - Nairobi George Mokua and Company 43085-80100 041-2227661/0721202522 Mombasa Gichohi Irungu and Company 409 06741225 Thika Gichuru Mand Company 19813-00100 0722-932606 Nairobi Githere and Associates 52426-00200 020-331231244766 Natrobi Githiga MwangiandAisociates 69969-00400 020412272/312264 Nairobi Githongo and Company 47089-00100 020428206/7/8/341335 Nairobi Gilliam and Associates 75690-00200 02Q-558708 Nairobi Ignatius and Company 62916 020-763982 Nairobi Ireri Kamm and Company 7349-00300 0721-414343/0733976572 Nairobi Jackson Wetusi and Associates 907 055-41210/0733-956075 Webuye J. K. Njenga and Associates 56008-00200 067-55426/0721404372 Ruin* J.M. Mugambi and Company 383 0164-20106 Meru Jm Okondo and Company 28352-00200 020-828998 Nairobi John Willis and Associates 3259-00100 0722-526366/0734533832 Nairobi Josiah Njenga and Associates 41825-80100 041-2225403/2227764 Mombasa K.Njoroge and Company 57079 020-212074212104 Nairobi Kabuya and Associates 28,15-00200 020-213760/244098 Nairobi Kago Mukunya indAmociates 30362-00100 020-343115 Nairobi Kalama and Associates 9267-80200. 042-20103/0722-390738 Malindi Kamera and Asir:cigars 7107-00100 020-252278/0722449715 Nairobi Kariru and Associates 70460-00400 020-2219451/2221929 ' Nairobi Kavili and Company 68188-00200 020-553438/2304250- ' Nairobi Kea)! and Company 43858-00100 - 020-3754082/0722-67204 1 Nairobi Minya and Company - 21359 5 020-342414/0722-778016 Nairobi . Kibligo Kimura and Company 427 00 020-212491212515 Nairobi [Cita Njenga and Company 6865-00300 020-2711327 Nairobi Kigundu Mwangiand Associates 7279-00300 020-3743541/3752038 Nairobi . Kimani and Associates 20122-00200 01204226769/2215434 Nairobi Kimani Critahi and Associates 28018-00200 020-3745959/3746491 Nairobi Kimuhu and Comimay 74511-00200 020-311531/253976. Nairobi King'ang'i Kaman Ind -Company 5698-00200 020-316463 Nairobi Kingori Kimani and Associates 31234-00600 020-241841/241678 Nairobi ' Kinyori and Associates 70216-00400 020-222455/3/215680 Nairobi Kiragu Njiru and Company 61232-00200 020-313028/0721-212723 -Nairobi Kyalo and Associates - 52531.00200 020-2210998/3563902 Nairobi Kyalo Mulwaand Company 1545-90100 044-203641,0723686100 Machakos Larry Rang and Company 2561-00100 020-214861/0733-347083 ' Nairobi Maina Kagigita and Associates 50251-00200 0721-563409 Nairobi Mains Kimani and Associates 21933-00400 020-2015655/2118853 Nairobi Mains Waithaka and Associates 2250 061-30612/20378 Ender Makeni Mania and Associates 58862 020-223963/240401 Nairobi Mariara Kigothaand Associates 57-10100 061-72943 . Karathra Mariana Kigotha and Associates 16587-00100 020-2210863 Nairobi Masinde and Associates 52157-00200 020-218901/600007 Nairobi Massawa and Company. 74774 020-210640/252900 Nairobi Marengo and Associates 67603-00200 020-604301/0733-605312 Nairobi Madeira and Associates 50355-00200 020-2220278/221424 Nairobi Mawji Sennik and Company 66249-00800 .020-37404912/3755166 Nairobi Mbai Ndeteni and Associates 34112-00100 020-2726747/51 Nairobi Mbaya and Associates 45390-00100 020-4443868/4446466 - Nairobi Mblyu Muhiaand Associates 3975-01002 06721021/0721-349178 Thika Mbuthia and Ameciates 28691-00100 020-3556659/0723 774 565 Nairobi Menya Ong'ongs Assciciates 10055-00100 020-250990/0722-808804 Nairobi Mike Kiswili and.Company 53238-00200 020-4440700/4444550 Nairtrbi Mitoko and Company 56927-00200 420-3876118/3876120 Nairobi Mk Kirika and Associates 6294-00200 020-21199802120054 Nairobi Muchekehu Nyakangoand Company 42502-00100 820-3875000/3876675 Nairobi Muchiri and Associates 12644-00100 020-2074054/0722-303904 Nairobi Muchungi and Associates 19849-00202 020-2725363/0722-378451 Nairobi Mudamba and Associates 19128-00501 020-828854/55 NaiMbi Muernaand Asiociates 6873-00300 020-241764/228805 ' Nairobi Mugo and Company 51820 020-221098218868 Nairobi Mugo Dominic and Company 3728-00100 020-311961/0733,737141 Nairobi Mugo Wsweru and Associates 27705-00506 020-533876/550151 Naltobi Muiru Kander and Company 75960-00200 020-2213979/2215725 Nairobi Mukhooli Khaukha John and CoMpany 1302 055-30039/0722-7664445 Bungoma Mukiri and CoMpany 59182-00200 020-2711060/2718577 Nairobi Mungai and Associates 13550-00800 0202-444286017196/7286 Nairobi Mungai Wainaina and Company 50712-00200 020-241289/215711 Nairobi Murithi Kingori and Astoria= 1494-010480 062-31540/0720242873 Nanyuki Musumba Oltwoku and .Associates 34078-00100 020-243847/251264 Nairobi Mutabi Maranp and Associates 13656-00800 020-3753493/0722739398 Nairobi Muter° and Associates 40696-00100 020-2011405/6/273356 Nairobi Methenli and Associates 5845-00100 020-244183/3595806 Nairobi Mutes and Company 17823-00100 0722-25477- Nairobi Name Postal Address Telephone Town Muturi Kihara and Associates 47457-00100 020-340763/2304343 Nairobi Mwangi Gichuhi and Company 8879-00200 020-6761639/0722780804 Nairobi Mwangi Ruita and Company 723 061-2030835 Nairobi Mwithiga and Associates 349-00605 020-2048869/0733967894 Nairobi N Kungu and Company 7025-00100 020-4762244 Nairobi Nabangi and Associates 6523-00200 020-2074710/2226656 Nairobi Ndegwa and Partners 9937-00100 020-3752246 Nairobi Ndiang'ui Nguyo and Associates 696-517 020-604280/0721551755 Nairobi Ndii and Associates 64037- 020-80254 Nairobi Ndirituand Associates 4709-10200 067-31550/0722771374 Thika Ndubi Kagereki Mugambi and Company 1366-60200 0733-235604 Meru Ngari and Associates 74550-00200 020-2099837/0722448710 Nairobi Ngigi and Partners 50281-00200 020-246044/219090 Nairobi Ngure and Company 693 061-72704/0722386187 Karadna Njagi Isaac and Associates 31254-00600 020-3102851315101 Nairobi Njenga Karori and Associates 15438-00100 020-240017/0722436505 Nairobi Njeru Nyaga and Company 42764-00100 020-3748088/0721378019 Nairobi Njogu Fundiand Associates 86-10300 0721554790/0722997697 Kerugoya Njoka Mwangi and Associates 6333-00300 020-2130191/227318 Nairobi Niue Mugo and Company 1627-00100 020-317582/0723960826 Nairobi Nyaga and Associates 41868-00100 020-315618/15627 Nairobi Nyagari and Asosciates 11533-00400 020-2048687/0721712090 Nairobi Nyakundi Mwencha (ZO) Associates 3508-40200 0733-507619/0725851030 Kisii Nyaridiko and Associates 60489-00200 020-78024310725-440276 Nairobi Nyasae and Associates 1337 058-30299 Kisii Nyenge and Company 964 044-20363 Machakos Nyenge and Company 45040-00100 020-310121 Nairobi Nyerere Opal, and Associates 8269-00200 020-226911/0722303918 Nairobi Obaga and Company 3446-40200 058-30421 Nairobi Ochieng Onyango and Associates 56509-00200 020-605104 Nairobi Ochiieng Ager and Associates 8830-00100 020-2228891 Nairobi Ogot and Associates 81942 412221510 Mombasa Okwara and Associates 1358-00200 020-2715341 Nairobi Omanwa and Associates 64447-00620 020-315592/312092 Nairobi Omato and Company 57862 0722-765259 Nairobi Omenye and Associates 95296 041-312814/0722412589 Mombasa Omingo Magaraand Associates 13941-00100 020-2715164 Nairobi Omwenga Onyancha and Company 51493-00200 020-2729431 Nairobi Osoro and Company 74066-00200 020-4444354/4442940 Nairobi Odeno Oboge and Company 6592-00100 020-2120358/220307 Nairobi Patel Shih Joshi and Associates 41684-00100 020-3751814/15 ' Nairobi Peter Githae and Associates 725-00517 020-3740233/0722771410 Nairobi PKF Kenya 47323-00100 020-4446616/0720-606616 Nairobi Richards and Associates 9386-00200 020-554657/558089 Nairobi Samto and Associates 50868-00200 020-2722294/882873 Nairobi Sci Koimburi Tucker and Company 61120-00200 026-2727121/23 Nairobi Siero and Associates 6314-00100 020-253336/0733744240 Nairobi Sila and Associates 2436-090100 0722-302021 Machakos Skj Shulunge and Company 86296 041-2317351/0724285347 Mombasa Solomon Georgeand Corbpany 3998-00100 020-2025736/7/8 Nairobi Tela Alusala and Company 7766-00200 020-243602/241443 Nairobi Theuri Ndegwa and Associates 46773-00100 020-828856 Nairobi Thumbi Ng'an'ga and Associates 47727 020-341175 Nairobi Vc Karani and Associates 30674-00100 020-2717483/2728362 Nairobi Victor Mudsya and Company 28421-00200 020-245236 Nairobi Wachira Irungu and Associates 46671-00100 020-3753270/71/72 Nairobi Walubengo and Associates 5264 053-2060797/0733791846 Eldoret Wambugu and Associates 86895-8010Q, 041-2224644/2223326 Mombasa Wambugu Wangai and Company 8822-00100 020-252652/318436 Nairobi %mutt' and Associates 30868-00100 020-2012598/0721382835 Nairobi Wangeci Mwangi and Associates 20906-09100 722211312 ' Nairobi Wanyeki and Company Associates 48428-00100 020-312708312709 Nairobi Waraho Kamau and Associates 74371-00200 020-341065/0722955085 Nairobi Warutumo Wambugu and Company 5085-00200 0723-145715 Nairobi William L Wachira and Company 55433-00200 726477582 Nairobi Wokabi and Company 70268-00400 020-2178404 Nairobi Z.K. Kariuki and Associates 59630 020-253160/0722861710 Nairobi Dated the 25th September, 2008.. 1. F. F. ODHIAMBO, Commissioner for Co-Operative Development. REPORT 14FTHO PIRIECTOP THE WAR ENDED 30 JUNE #06 OiFeCCPP Fthini; their !CPO together with the sudiOld 1 n4Pdid statements fOr the Year ended 3p June 2908. Which shows the state of affairs of die 17* Oggivf ROM; Npncs Nq. WI 40R11414,R BP#P R4F0PKIPti ipop OF DII*TOR§ P Nurs kiflu!10 laaac . mrKtort .404 Randal G. Row* Taunt Paws* *OP RI:- WAN: Mar 414!fif iffed, Aminitisibuor RP CTRI #1P4 POIR IfFilf P. oft,RPO Weil P. 144!Ifilt Mow! R104.10 WO!ifom tbrageta Wit:18 404,§.9010kg Kotio chew mark L. 444 4-11411 P. SO 1,Sif !TelF bera41' kloy wtirOt -§amt9n #iftlf 1 figkiPPAL riArap. Bysiiwis ff4414 Rf PR? f3944 ClIstiSRP msfiltfr 140Riff0; TWIStiff WM* Winker kIFt0gc 041104 Po 13 *Ifs,* WO) Nonaer EA tpq 'MO on 4 Aril 39Q8) Director Assistant Director - Hance Yr Administration Rasiatani [Scepter- P9niflaMms BMW Sagan" Manager - Daposit Insurance and Risk Management ki4n445 InfnifiVAM §rAnns ManfiFf !MRS" PEFQSJT to {AN RAID KARP pato AltiP fiN4NC14, STA.TEWIS ppg THE YEAR WW1 30 BRIE AfpTFORS Ernst Ypppg ortgo Tom. 1. INCPRWIRMIPN 112 000 Is insorpP!OPO 'Or the Ratli Banking Act. PWW,4!-SPIVMP§ The Board is f!tattlif44 mid sciminisVxcl Pa4sr Rim" 84011 4ct with tie POPIPO 010;0.'8 to p idea deposit insurance scheme for customers of alpinism insdaMons ap4 ligpidotand wit4 up tha %mations of any institution in respect of which the Board is appointed as a liquidator in pFc.pidppr.P with the eny tianking,Acs or any ow written law. RESPLTS The rpsulcs for OM yogi Re set out on triqW• 4. DIRECTORS The directors who served during the year and up to the date of this report are listed on page 1. 5. AUDITORS The auditors, Ernst & Young, were appointed during the year in line with the Public Procurement and Disposal Act, 2005 for a period-of four years. By order of the Board JANE K. IKUNYIJA Board Secretary 29th September, 2008. STATEMENT OF DIRECTORS' RESPONSIBILITIES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2008 The Kenyan Banking Act requires the directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Board as at the end of the financial year and of its operating results for that year. It also requires the directors to ensure that the Board keeps proper accounting records, which disclose with reasonable accuracy the financial position of the Board. They are also responsible for safeguarding the assets of the Board. The directors accept responsibility for the annual financial statements, which have been prepared using appropriate accounting policies supported by reasonable and prudent judgements and estimates, in conformity with International Financial Reporting Standards and in the manner required by the Kenya Banking Act. The directors are of the opinion that the financiarstatements give a true and fair view of the state of the financial affairs of the Board and of its operating results. The directors further accept responsibility for the maintenance of accounting records which may be relied upon in the preparation of the financial statements, as well as adequate systems of.internal financial control. Nothing has come to the attention of the directors to indicate that the Board will not remain a going concern for at least the next twelve months from the date of this statement. N. S. NDUNG'U CHAIRMAN 1. 0. AWUONDO MEMBER 30th September, 2008. REPORT OF THE INDEPENDENT AUDITORS TO THE MINISTER FOR FINANCE ON THE FINANCIAL STATEMENTS OF DEPOSIT PROTECTION FUND BOARD Report on the Financkil Statements We have audited the accompanying financial statements of the Deposit Protection Fund Board set out on pages 6 to 23, which comprise the balance sheet as at 30 June- 2008, and the Income Statement, Statement of Changes in Fund Balance and Cash How Statement for the year then ended, and a summary of significant accounting policies and other explanatory notes. The financial statements for the year ended 30 June 2007 were audited by another auditor; whose report dated 25 September 2007 expressed unqualified opinion on the financial statements. Directors' Responsibility for the Financial Statements The directors are responsible for the preparation and fair presentation of these financial statements in accordance with the International Financial Reporting Standards. This responsibility includes designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that, are appropriate iii the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements give a true and fair view of the financial position of the Deposit Protection Fund Board as at 30 June 2008, and of its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standards, and the requirements of the Kenya Banking Act. REPORT OF THE INDEPENDENT AUDITORS TO THE MINISTER FOR FINANCE ON THE FINANCIAL STATEMENTS OF DEPOSIT PROTECTION FUND BOARD Report on Other Matters We also report to you, based on our audit, that: (i)We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the pa:poses of our audit; (ii)In our opinion proper books of account have been kept by the Board, so far as appears from our examination of those books; 6,773 11,476,416 7.089 .11.421231 13,867 23,424 1110.1171 17th October 20011 KENYA tiAzErrE (iii) The Board's balance sheet and income statement are in agteentent with the books of ea:ma ERNST & YOUNG Nairobi 30kh September, 2008. BALANCE SHEET AS AT 30 JUNE 2008 2008 2007 KShs'000 JCShs'000 ASSETS NON-CURRENT ASSETS Property and equipment 2 , Prepaid operating lease rentals 3 Invesunent held for sale 4 Govemmentsecurides 5 30,938 33,783 3,911 4,010 100 100 9.221A06 4.252.935 5.026.857 9.220.828 CURRENT ASSETS Debtors and prepayments 6 22,296 Government securities 5 12,963,007 Cash and bank balance 12.987.341 TOTAL ASSETS FUND BALANCE AND LIABILITIES FUND BALANCE :7 17168316 CURRENT LIABILITIES Creditors and accruals 8 10,644 Due to related party 9 14,519 Provision for protected depositclaims 10 20.719 45.882 TOTAL FUND BALANCE AND UABIUTIES 1.121.44211 The financial statements were approved by the Board of Directors for issue on 26th September, 2008 and signed on its behalf by: N. S. NDUNG'U CHAIRMAN I. 0. AW1101400 MEMBER INCOME STATEMENT FOR THE YEAR ENDED 30TH JUNE, 2008 REVENUE Note KSks'000 ICSIts'000 Assessinensiwonne 11(a) 919,134 . 787,783 Investmentinamme 11(b) 1,447,621 1,235,139 Other income, 12 5,390 8,235 Write back orprovisions for protected deposits 13 ____442 856 2,312.5117 2.032 013 EXPENSESt- Administrating/mod establishmeat 14 127,107 110,544 Provision fat isabtful debts 6(b) 127.107 118328 SURPLUS liORTHE YEAR 2,1411.41111 MAUI STATEMENT OF CHANGES IN FUND BALANCE FOR THE YEAR ENDED 30TH JUNE, 2008 Fund Balance KSits'000 Balance at 1 11041006 13,809,151 Surplus for the year 1.913.685 Balance at 30 June 2007 15.72;1'46 Balance at 1 July 2007 15,722,836 Surplus for the year 2.245.480 Balance at 30 June 2008 112111.11A CASH FLOW STATEMENT FOR THE YEAR ENDED Note Cash flows from operating activities:- Surplus for the year Adjustment for- . Depreciation of property and equipment Amortisation of prepaid operating lease rentals Loss on disposal of property and equipment Interest income Operating surplus before working capital changes Debtors and prepayments Creditors and accruals Related party account Net cash flows generated from operating activities Cash flows from investing activities:- Payment of protected deposit claims Purchase of investments Purchase of property and equipment Proceeds on disposal of property and equipment Interest received Net cash flows from investment activities Net movement in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 15 30TH JUNE, 2008 KShs'000 2,245,480 4,227 - J1.447.6211 802,185 (15,523) (3,223) (8.905) KShs'000 1,913,685 4,858 (763) 11.235.139) 682,740 (5,049) 5,467 10.121 774.534 693.279 (260) (1,873,200) (1,382) - 1.447.621 (3,182) (998,861) (10,700) 1.235.139 (427.221) 223342 347,313 6.192.642 916,621 5.276.021 fr 539,955 6.,1 92,642 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2008 1. SIGNIFICANT ACCOUNTING POLICIES The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. (a) Basis of preparation of financial statements (i)Basis of preparation The financial statements are prepared in compliance with International Financial Reporting Standards (IFRS) and Interpretations of , those.Standards as adopted by the International Accounting Standards Board. The financial statements are presented in thousands of Kenya Shillings (KShs'000) and are prepared under the historical cost convention except for measurement at fair value of certain investments. (ii)Changes in accounting policies The Board has adopted the following new and amended IFRS interpretations during the year. Adoption of these revised standards did not have any effect on the financial performance or position of the Board. They did however give rise to'additional disclosures. The principal effects of these Changes are as follows: IFRS 7: Financial instruments: disclosures This standard requires disclosures that enable users of the finantial statements to evaluate the significance of the Board's financial instruments, the nature and extent of risks arising from those financial instruments. The new disclosures are included throughout the financial statements. While there has been no effect on the financial position or results, comparative inforMation has been revised where needed. THE KENYA GAZMITE 2671 /AS 1: Presentation off:leafleted statements This amendment requires the Board-to make new disclosures to enable users of the financial statements to evaluate the Board's objectives, policies and processes for managing capital. (iii) Standards, amendments and interpretations effective in 2008 but not relevant The following standards, amendments and interpretations are mandatory for secant-dug periods beginning on 1 April 2007 but are not relevant to the Board's operations: •[ERIC 11, IFRS 2 — Group and Treasury Share Transactions (effective from 1 March 2007); ■IFRIC 12, Service Concession Agreements (effective from 1 Januaiy 2008) (iv) Shuidards, amendments and interpretations that have beat.issued and are not yet effective for the Board's operations At the date of authorisation of these &uncial statenunts, the following Standards and Interpretations were initiate Waal yet effective for the Baud's operations: • IFRS 2, Amendments to IFRS2 Shambased fitment - Vesting Conditions and Cancellations (effective I Jannary 2009) • IFRS 3, Business•Combinations (effective from 1 July 2009) • IFRS 8, Operating Segments (effective from 1 January 2009) • 1AS 1, Presentation of Financial Statarron amendment (effective from 1 January 2009) • IAS 23 Borrowing Costs (effective I •Mum). 2009) • IAS 27, Consolidthed and SeptuaseRnancial Staternents(effective 1 July 2009) • IAS 32, Amendments to LAS 32 Rnancial Instruments: Presentation and .IAS 1 Presentation of Financial Statements - Puttable Financial Instruments and Obligations Arising on Liquidation (effective 1 January 2009) • IFIRIC 13, Customer Loyalty Programmes (effective from 1 July 2008) (b) Revenue recognition Assessed income comprises contributions levied to the conuibutory institutions and is recognized in the period when they are receivable. Such conttibutions are assessed at a rate of 0.15-per cent of the average of the institutions' told depoiit liabilities' uring the period of 12 months prior to the date of levy notice. Interest income is recognized in the period in which it is earned based on the expired portion of the life of the investments it relates to. interest is pitineeity tamed on Treasury bilk and bonds and other intereacanying instruments. Discounts andremitims orracquisition of government securities the amortized over the life of the Provisions for payments to depositors Provisions for payments to protected depositors are recognized in the financial statements in the period the contributory institutions are placed under liquidation. Any payments that exceed the provisions made are taken •into account in determining opeiating profit. Provisions that relathiormclaimed protected deposits are written back.to income on expiry of the statutory notice period. (d)Propeett uthsipment and depreciation Propestpanthequipment are stated at cost, less accumulated depeciation. Depreciation is calculated at annual rates estimated to-write off canytheraines of the assets over their expected useful lives on the reducing balance basis except for buildings and computers which are deprethiunithn the straight line basis. The menthiSiethr.ciation rates in use are: - Buildings 2.2% hatumeadstings and fittings 12.5% OfficasendRitchen equipment 20% MotomAiiiireles 25% Committer. 33.33% " The caanyitig values of property and equipment are reviewed at each balance sheet date for impairment when events or changes in ' circumetraces indicate the carrying values may not be recoverable. If any such indications exist and where the carrying values exceed the estimated recoverable amount the assets are written down to their recoverable amount. ltemsenifpreperty, plant and equipment are derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Gains and losses on disposal of property, plant and equipment arc determined by reference to their carrying amounts and austaillin into account in determining operating profit. (e)Lessees Leasesswithro the lessor retains substantially all the risks and benefits of ownership of the asset are classified as operating leases. Payments made under operating leases are recognized as an expense in the income statement on a straight line basis over the tease tem.- (/) Empleynnientidements Ernpiepe. c entitlements are recognized when they accrue to employees. A provision is made for the estimated liability for such entideisnmec as a result of services rendered by employees up to the balance sheet date. The estimated monetary liability for employeesiaccrued annual leave entitlement at the balance sheet date is recognized as an expense accrual. Retiranserobenefit costs • The Mud% employees arc-eligible for retirement benefits under a' defined benefit plan provided through a separate fund. The defined' benefit plan is funded by the Board and the Central Bank. the main sponsor. The retirement benefit asset is wholly recognized in the financial statements of the Central Bank while the Board recognizes contributions to the fund as if it were a defined contribution scheme by charging them to the profit and loss account in the year to which they relate. ' The Board also contributes to a statutory defined contribution Pension Scheme, the National Social Security Fund (NSSF). Contributions are determined by local statute and are currently limited to KShs. 200 per-employee per month. The contributions are charged to income and expenditure account in the year to which they relate. (g)Taxation The Board's income is not subject to tax as it has been granted exemption by the Commissioner of Income Tax. Therefore no provision for current tax or deferred tax is made in the financial statements. (h)Financial instruments The Board's financial instruments which comprise government securities, receivables and payables fall into the following categories: Held-to-maturity investments Non-derivative financial assets with fixed or determinable payments and fixed maturities are classified as held-to-maturity when the Board has the positive intention and ability to hold to maturity. All Investments in government securities are classified as held to maturity and are initially recognised at cost and subsequently measured at amortised cost using the effective interest rate method. Amortised cost is calculated by taking into account any discount or premium on acquisition. The amortisation of such investments is recognised in the income statement. Receivables Receivables which comprise debtors and prepayments are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. After initial measurement, receivables are carried at amortised cost using the effective interest method less any allowance for impairment. Gains and losses are recognised in profit or loss when the receivables are derecognised or impaired, as well as through the amortisation process. Payables Payables comprise creditors and accruals, provisions for protected deposit claims and amounts due to Central Bank of Kenya. They are classified as financial liabilities and are carried at amortized cost. A financial asset is impaired if its carrying amount is greater than its estimated recoverable amount. The amount of the impairment losses are recognised in the income statement. (i)Investment held for sale Investment held for sale relates to investment in a subsidiary which is accounted for under IFRS 5 'Non-current assets held for sale and discontinued operations'. The investment is stated at the lower of its carrying amount and the fair value less costs to sell. Cash and cash equivalents Cash and cash equivalents are defined as cash on hand and in bank accounts. Cash and cash equivalents are carried at cost. For the purposes of the cash flow statement cash and cash equivalents comprise cash on hand, bank balances, and government securities maturing within 91 days of the balance sheet. .n. PROPERTY AND EQUIPMENT Buildings KShs'000 Furniture & fittings KShs'000 Office and Kitchen Equipment KShs'000 Motor vehicle KShs'000 Computers KShs'000 Total KShs'000 COST At,1 July 2007 16,559 13,952 6,219 8,713 3,565 49,008 Additions 792 - 590 1.382 At 30 June 2008 16.559 14.744 6.219 8.713 4.155 50390 DEPRECIATION At 1 July 2007 1,855 2,287 4,038 4,203 2,842 15,225 Charge for the year 364 1.556 435 1.127 745 ' 4.227 At 30 June 2008 2.219 .. 3.843 4.473 5 330 3.587 19.452 NET BOOK VALUE At 30 June 2008 10,901 1,746 3 i 5613 Buildings Furniture & fittings Office and Kitchen Equipment Motor vehicle Computers Total KShs'000 KShs'000 KShs'OOO KShs'000 KShs'000 KShs'OOO COST At 1 July 2006 16,559 4,956 5,234 11,981 5,695 44,425 Additions - 8,996 1,177 • - 527 10,700 Disposals (192) (3.268) (2.657) (6.117) At 30 June 2007 16.559 13.952 6.212 8.713 3.565 49.008 14'71 No depreciation has been charged in arriving at the results for the year in respect of certain fully depreciated etheitsitritheeostof KSIt. 1,920,535 (2007: KSh. 1,226,410) and are'still in use If depreciation had been charged during the year on the cost of these assets at normal rates it would have amounted to KSh. 640,178 (2007: KSh. 408,803) . 3. PREPAID OPERATING LEASE RENTALS Cost At 30 June Amortisation At beghining of the year Amortisadon for the year KShs'000 4,522 4,522 At end of the year Net carrying value at end of the year INVESTMENT HELD FOR SALE Inveatment in Consolidated Rank of Kenya Limited 10,000,000 ordinary shares of KShs 20 each Provision for diminution in value DEPRECIATION At 1 July 2006 Charge for the year, At 30 June 2007 NETBOOKVALUE • At 30 June 2007 5,83/3 (3,136) 1 Q1 4,718 (2,656) • —NI • 16,301 (5,934) 411111 1,491 .31t4 .1.0(12 3,634 (142) —116 17th October.2008 '200,000 L1224901 200,000 11221U —WO -UM The Board owns 502% of the ordinary share capital of the Consolidated Bank of Kenya Limited. At the titne of acqUisition of the investment, the Banking Act allowed the Baud to acquire, bold or dispose shares of an institution that would result in a loss to the Board. The Banking Act was later amended and now prevents the Board from holding investments other than in government securities. The Board, has signed the agreement trandetting the shareholding iq Consolidated Bank of Kenya Limited to Treasury for onward sale to third patties. Due to the above, the requirement for consolidation on IAS 27 does not apply. The investment was last valued, in December 2004 by external consultants and that value of the shares was considesyd to be effectively nil. In the opinion of the directors, the additional diminUtion in value of KShs 100,000 based on this valuation is not material for recognition in the financial statements. GOVERNMENT SECURITIES Treasury bills maturing within 91 days of the balance sheet date (Note 15) Treasury bills maturing after 91 days of the balance sheet date Treasury bonds maturing within 91 days of the balance sheet date(Note 15). Treasury bonds maturing after 91 days of the Balance`sheet date but within 1 year Treasury bonds maturing after.! year of the Balance sheet date Comprising Maturing within l‘year of thebalance sheet date Maturing after 1 year of the balance sheet date J7.944.915 12,963,007 ...4221.201 king= 11,476,416 4 751 934 41.251211 15;129151 The weighted average effective interest rate on held to maturity investments as at 30 June 2008 was 8.59% (2007: 8.36%). •6. (a) DEBTORS AND PREPAYI4ENTS 2007 KShs'000 Kas'000 Debtors and prepayments 188,775 174,549 Provision for bad debts (Note 6b) (166.479) (167.776) 6. (b) PROVISIONS FOR IMPAIRED DEBTORS As at 30 June 2008, debtoraamounting to KShs 166.479 million were fully impaired and provided for. Movements in, the prOvisions for impairment of receivables were as follows: 2007 KShs'000 Xne000 At 1 July 167,776 162,769 2007 KShs'000 KShs'000 5,870,069 4,700118 5,882,077 4,186,853 667,848 1,485,135 543,013 1,104,010 4.221.908 4.252.935 2674 THE KENYA GAZhil 17th October, 2008 Additional provision - 7,784 Write back-provision for bad debts (Note 12) (1.297) (2.777) At 30 June (Note 6a) L166,479) (167,776) 7. FUND BALANCE At start of year 15,722,836 13,809,151 Surplus for the year 2.245.480 1.913.685 At end of year . 17,968,316 15,722,836 The Fund balance relates to accumulated surpluses. 8. CREDITORS AND ACCRUALS Sundry creditors and accruals 4,363 7,132 Unclaimed stale cheques 6.281 6.735 14.544 WIE 9. RELATED PARTY TRANSACTIONS (a) Due to Central Bank of Kenya (b) Directors' emoluments and senior management remuneration Fees to directors 2,649 2,784 Remuneration to senior management MM 10. PROVISION FOR PROTECTED DEPOSITS 2008 2007 KShs'000 KShs'000 Balance brought forward 20,979 24,161 Payments during the year (260) (3.182) Balance carried forward aaiM 11. INCOME 11(a) ASSESSED INCOME Total average deposits of institutions assessed as contributors 612,156,269 524,989,020 0.15% of total average deposits 918,234 787,483 Minimum contributions from 3 banks (2007: 1 bank) _292 300 Total assessed income 919,134 787,783 11(b) Investment income (i) Interest earned on Treasury bills received on Matured bills 674,662 438,528 Discount on purchase J54.192 113689 $28.854 55E217 (ii) Interest earned on Treasury bonds received on Matured bonds 610,077 6154 Discount on purchase 21,188 23070 Amortisation of premium (12.498) (14302) 618.767 687.922 Total investment income 1.447.621 1215.119 12. OTHER INCOME Recoveries from subrogated claims 3 3,240 Penalty charges on late contributions 873 531 Profit on disposal of property and equipment - 763 Bad debts recovered 1,297 2,777 Grants Income 2,849 922 Miscellaneous income 368 __.2,. 17tit Octobet.-2008 k.GAZRII'E' '1675 -.WRITEBACK OF PROVISIONS FOR PROTECTED DEPOSITS KShs'000 KShs'000 Stale cheques mitten back The Board has been makitigpmvisions equivalent to the amount of its exposure to protected depositors whenever a bank or financial institution is putunderliquidation. The period for claims to be made by protected' epositors under the statute is two years afterthe date of notice. ThaBoard has arsewrittenbsek cheques11/stitterst issued to protetted depositors that have notbeen plasenard.until the balance sheet date and are stale by virtue of being over, years old. The diteetors am of the opinion that no claim 'MI be payable in respect of these cheques. KShs'000 Staff costs 95,676 81,809 Depreciation 4,227 4,858 Lease amortisation 99 99 Auditors remuneration 601 450 Directors' emoluments - Fees 2,649 2,784 Legal and professional fees 2,662 278 Other 2L193 _211.201 15. CASH AND CASH EQUIVALENTS Cash and cash equitalents included in the cash flow statement comprises the following balance sheet runounts .Treasury bills manning within 91 days of the St870,069 4,700,418 ' balance sheet-date(Note 5) Treasury bonds maturing within 91 days of the balance sheet date(Note 5) 667,848 1,485,135 Cash and bank balance _2.438 x.082 1112,211 0,12102 16. COMMITMENTS Authorised but not connacted for Capital commitments authmised relates mainly to library books and shelves and an electronic and demonstration system to be installed at the proposed new premises at Itlarshalls house. KShs'000 KShs'000 Operating lease commitments Falling due within one year 25/475 25,475 Falling due between one and five years 101,900 101,900 Falling due over five years 906.910 -232485 1.111.2671Q . I7 RISK MANAGEMENT Structure and Reporting. The Board of DireCtors is responsible for the overall risk management approach and for approving the risk management policy and strategies. There are other organs that monitor the assessment and management of risks within the Board including; (a) Audit Committee of the Board The Audit Committee assists the Board in the fulfillment of its oversight responsibilities. The Committee guides and monitors the im ementation of controls by the Board. .(b) Risk Management Committee The purpose of the Risk Management Committee is to identify the nature of risks affecting the Board and the processes by which 'these risks are to be managed. The 'Committee monitors external developments relating to all financial, business and strategic risks associated with the operations of the Board. The Committee is further, charged with the responsibility of reviewing the adequacy and overall effectiveness of the Board's risk management and business continuity management frameworks and oversees the inculcation of a risk philosophy and implementation of a risk strategy aid policy- across the Board. - (c)Deposit Insurance and Risk Management Section The Board has an established Deposit Insurance & Risk Management Section that receives off-site information on deposits from member- institutions for analysis and works closely with Central Bank of Kenya to monitor the performance of the Banking industry. (d)Internal Audit and Risk Management Department (IARM) The operations of the Board are subject to internal audit by the (IARM) department of the Central Bank of Kenya. The (IARM) department employs risk-based audit approach in planning and carrying out its. udit engagements. The business processes are assessed with regard to business continuity procedures, physical safety, system safety, conformity to legal requirements and regulations, sufficiency of human resources and information safety. In addition, the financial risks and reputation risks are also determined. Controls that are designed to reduce these risks to acceptable levels are assessed in terms of sufficiency and effectiveness; additional controls are recommended in order to increase effectiveness. The main risks faced by the Board in respect of its principal non-derivative financial instruments are interest rate risk and liquidity risk. The directors review and agree on policies for managing these risks. The Board maintains a conservative policy regarding interest rate and liquidity risks. The Board does not engage in speculation in the markets. In addition, the Board does not speculate or trade in derivative financial instruments. The Board's principal financial instruments comprise investments held to maturity; cash and cash equivalents; debtors and prepayments; creditors and accruals; provisions for protected deposit claims; and amounts due to related parties. Interest rate risk management Interest rate risk is the risk that the value and cash flows of a financial instrument will fluctuate due to•changes in market interest rates. Excess funds held by the Board are invested in Treasury bills and Treasury bonds. The following table sets out the carrying amount by maturity, of the Board's financial instruments that are exposed to interest rate risk: Up to 3 months KShs'000 .. 3-12 Months KShs'000- Non Interest 1-6 Years Bearing KShs'000 KShs'000 Total KShs'000 Debtors and prepayments 22,296 22,296 Cash and bank balance - - 2,038 2,038 Investments held to Maturity 6,537,917 6,425,090 4,991,908 17,954,915 Creditors and accruals (10,644) (10,644) Due to related party (14,519) (14,519) Protected deposits (20.719) (20.7191 Interest sensitivity gap At 30 June 2008 0.112112 k.' 51' i 5,991,908 (21.5481 17.931367 At 30 June 2007 ' 1=2 5,290.863 4,252,935 (44.408) . 15,684,943 The following table demonstrates the sensitivity to a reasonably possible change in the interest rates, with all other variables held constant, on the Board's surplus. The sensitivity computations assume that financial assets maintain a constant rate of return from one year to the next. Effect on profit before tax of a +5% change in interest rates Effect on profit before tax of a -5% change in interest rates" 16 RISK MANAGEMENT Liquidity risk management 2008 2007 KShs'000 KShs'000 72,381 62,657 (72,381) (62,657) Liquidity risk is the risk that the Board will encounter difficulty in meeting obligations from its financial liabilities. The Board's approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its.liabilities when due, without incurring unacceptable losses or risking damage to the Board's reputation. In the course of its operations the Board invests its capital in forms that vary in liquidity ranging from govemment securities that are readily convertible and sundry debtors. Simultaneously it carries current liabilities in form of provisions for protected deposits, sundry creditors and related,party liabilities. The entity matches its current assets to the current liabilities falling due to mitigate therisk of low liquidity. The Board's financial liabilities amount to KShs 45.882 million (2007: KShs 58.270 million) and are all short term. Currency risk The Board operates wholly within Kenya and its assets and liabilities are reported in the local currency. It does not transact in foreign currencies. Faix.value The table set out below is a comparison by category of carrying amounts and fair values of all the Board's financial instruments that are carried in the financial statements. Ith, October 2008 Financial assets KShs'000 Carrying Fair value value KShs'000 Carrying - Fair value ' Debtors and prepayments 22,296 22,296 6,773 6,773 Cash and Bank balance 2,038 2,038. 7,089 7,089 Investments held to Maturity 954.915 ,17 17.954.915 15.729.351, 15.729.351 Financial liabilities Creditors and accruals 10,644 10,644 13.687 13,687 Due to Related Party 14,519 14,519 23,424 23,424 Protected Deposits NM 20112 111222 24921 The directors are of the opinion that the carrying value of financial instruments approximates their fair value. 18. RELATED PARTY TRANSACTIONS , - • The Central Bank of Kenya and the Board and are related parties, performing connected duties of bank supervision and deposit protection respectively. No trading is carried with the Central Bank. The following transactions however take place betweealhe two Organizations: • (a)ThcCentral Bank pays some operating expenses on behalf of the Board. These are fully reimbursed: (b)• The staff of the Board are contractually' mployees of the Central Bank but seconded to the Board. Salaries of ,these staff are met by the Central Bank and fully reimbursed by the Board. In the year, Salaries paid to staff by the Central Bank amountodto KShs 78.952 million (2007: KShs 66.204 million). (c)The Central Bank is also the sponsor of the Staff Pension Fund to which the Board contributes on behaltrof employees seconded to it from the Central Bank. In the year, the Board's contribution to the fund amounted to KShs 4.2million (2007: KShs 4.4 million). (d)The Central Bank provides the Board with office space andcharges it rent. The Board also reimburses maintenance costs incurred by the Central Bank on its behalf. In the year, rent and maintenance costs charged amounted to KShs 8.092 million (2007: KShs 7.537 million). The balance at year-end on transactions with the Central Bank is shown in note 9. 19. CAPITAL MANAGEMENT The primary objectives of the Board's capital management are to ensure thatthe Board maintains healthy capital ratios in order to support its business and to maximize the value for the insured depositors in member institutions. The Board manages its capital structure and makes adjustments torn, as per the requirements of the Banking Act The total accumulated Fund as at30 lune 2008 was KShs 17.9 billion (2007: KShs 15.7 billion). 20. CONTIGENT LIABILITIES Litigation Mr. Ajay Shah filed a case claiming general damages and special damage's amounting to KShs 144 million against TrUstaarik Limited (In Liquidation) and the Board on allegations of defamation and publication of malicious false statements. The suit is pending for hearing. No provision has been made in the financial statements because, in the opinion of the-direco3rs, the claim is unlikely to succeed.- • 21. - COMPARATIVES Where necessary, comparative figures have been adjusted to conform to changes in presentation in the current year. 22. ESTABLISHMENT Deposit Protection Fund Board is established in Kenya under the Banking Act and is domiciled in Kenya: 23. CURRENCY These financial statements are presented in thousands of Kenya Shillings (KShs'000), and are rounded to the nearest KShs 1,000. COMMERCIAL BANKS AND OTHER FINA$1CIAL INSTITUTIONS ASSESSED CONTRIBUTORS FOR THE YEAR ENDED 30 JUNE 2008 COMMERCIAL BANKS SCHEDULE A African Banking Corporation Limited 2 Bank of Africa Kenya Limited 3 Bank of Baroda (Kenya) Limited 4 Bank of India 5 Barclays Bank of Kenya Limited 6 CFC Stanbic Bank Limited 7 Charterhouse Bank Limited 8 Chase Bank Limited 9 Citibank N.A. 10 City Finance Bank Limited 11 Commercial Bank of Africa Limited 12 Consolidated Bank of Kenya Limited 13 Co-operative Bank of Kenya Limited 14 Credit Bank Limited 15 .Development Bank of Kenya Limited 16 Diamond Trust Bank of Kenya Limited 17 Dubai Bank Kenya Limited 18 Ecobank Kenya Limited 19 Equatorial Commercial Bank Limited 20 Equity Bank Limited 21 Family Bank Limited 22 Fidelity Commercial Bank Limited 23 FINA Bank Limited 24 First Community Bank Limited 25 Giro Commercial Bank Limited 26 Guardian Bank Limited 27 Gulf African Bank Limited 28 Habib Bank A.G. Zurich 29 Habib Bank Limited 30 Imperial Bank Limited 31 Investment & Mortgages Bank Limited 32 Kenya Commercial Bank Limited 33 K-Rep Bank Limited 34 Middle East Bank Kenya Limited 35 National Bank of Kenya Limited 36 NIC Bank Limited • 37 Oriental Commercial Bank Limited 38 Paramount Universal Bank Limited 39 Prime Bank Limited 40 Southern Credit Banking Corporation Limited 41 Standard Chartered Bank of Kenya Limited 42 Transnational Bank Limited • 43 Victoria Commercial Bank Limited OTHER FINANCIAL INSTITUTIONS I. Housing Finance Company of Kenya Limited 2. Savings & Loan Kenya Limited K. CHELOTI, Director, Deposit Protection Fund Board. 17til OCtOt/Or GAZETTE Nancs NO. 9896 THE KENYA Gi4ferrE Commercial Banks Postal Address African Banking COroomtiotr Limited 2 B4P1Lo1Affic4.Ker014111114(1 3 Btak of Vinod* (Kt laithked 4 Bash of Indio Lirithed Beet lays Bank ofiCOPIlairoihsti 6 •CFC lleanbio Bank Limited 7 Cherrotbonee Bank Unified 8 Chain Batik (K) Molted 9 CAW* N.A.' 10 Oty Rance Bank 11 Commercial Bank of Africa Kenya Limited 12 Consolidateditenk of Kenya Limited 13 Coasporitivreflankrit Kenya Limited 14 Credftiliark Lintitert: 15 Development Bank Of Kenya Limited 16 Diamond Trust Bank of Kenya Limited 17 Dubai Btu* 00 Limited 18 Ecabank Kett/eland* 19 Eilu41010kCirmineroirtf Bank I-UMW 20 Bittiki Binh 2• gunk Sanklimitod 22 Fultditi Commercial Bat* Limited 23 Fut" BanifLimitert 24 7 First Commustity Bank Limited 25 GiroCommemitd Bank Limited *26 Chandler Bank Lin:died 27 Gulf African Sank Limited 28 Habib AG. Zinich 29 Habib Bank Limited. 30 Imperial Bank Limited 31 boreitmetroCit Mort. Bank Limited 32 Kiwi,* Commercial Bank Limited 33 K-Rep Bank United 34 Kiddie East Bank Kenya Limited 35 National Bank of Kenya Limited 36 NIC-litank Limited 37 Oriental CoMfia41014401-1Mited 38 Pkouneunt Univemal Sank Limited 39 Priraspilank Limited. 40 Southern Credit Banking Corp. Limited 41 Stmsdaed Chartered (K) Untited 42 TronettatiOnititairk UMW 43 Intro* commercial Brink J.irnited. Missegage Finance Companies Hbusing nuance CompanY of (K) Limited 2 &prop Loan (Kenya) Limited P.0 Box 46452 - 00100 PO. Box 69562 - 00400 •Box 30033 - 00100 P.O. Box 30246- 00100 •lox 30120 °ono P.O. Box 72833 - 00200 Pa Box 43252 - 00100 P.O. Box 28987 - 00200 P.O. Box 30711 - 00100 P.O. Box 22741- 00400 P.O. Box 30437 - 00100 PA. Box 51133 - 00200 P.O. Box 48231 - 00100 P.O. Box 61064 - 00200 P.Q. Box 30483 - 00100 P.O. box 61711 - 00200 P.O. Box 11129.00'00 P.O Box 49584 - 00100 PA Box 52467 - 00200 P.Q. BOX 75104 - 00200 Pa Box 74145 -.011200 P.O. Box 34886 - 00100 P.O. Box 20613 - 00200 P.O. Box 26219 - 00100 P.O. Box 46739 - 00100 P.O. Box 67681-- 00200 P.O. Box 43683 - 00100 P.O. Box 30584 -'00100 P.O. Box 43157 -00100 P.O. Box 44905 - 00100 P.O. Box 30238 - 00100 P.O. Box 48400 -00100 P.O. Box 25363 - 00603 P.O. Box 47387 - 00100 P.O. Box 72866 - 00200 P.O.,Box 44599 - 00100 P.O. Box 44080 - 00100 P.O. Box 14001 - 00800 P.O. Box 43825 -00100 PO, Box 11666 - 00400 P.O. Box 30003 - 00100 P.O. Box 34353 - 00100 13:0. Box 41114 -00100 Nairobt Nairobi Nalmbi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi -Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi Nairobi. Nairobi a P.O. Box 30088 - 00100 Nairobi P.O. Box 45129 - 00100 Nairobi THE BANKING ACT (Cap. 488) NOTICE is given under section 38 (7) of.the Banking Act that the under listed institutions have their deposits protected by the Deposit Protection Fund Board for the period 1st July, 2008 to 30th June, 2009• K. CHELOTI, Director, Deposit Protection Fend Board. GAZETTE NeRICENO. 91197 OSMAN DEVELOPMENT COMPANY LIMITED CLOSURE OP PRIVATE AIRSTRIP • TAKE mcgta that Oserian Development Company _Limited intends to crow the airstrip *nano as Oserangoni Airstrip located on L.R. No. 10981%, between 27th 0ctober, nos and 2nd November, 2003, to %Winne 'maintenance. During this all aircraft will be prohibited from using this private ahstrip'except in cases of emergency. Dated the 6th October. 2008: SAMSON LUKOBA, Legal Manager. GAzErrE NancE NO. 9898 OSERIAN DEVELOPMENT COMPANY LIMITED CLOSURE OF PRIVATE ROADS AND FOOTPATHS TAKE NOTICE that °serum Development Company Limited intends to close all private marls and footpaths running through its estates on L.R. No. 10999 and LK.- No. 7425/8 on Friday, 24th October, 2008, between 12. 00 cm. and 11.59 p.m. during this period all vehicles and pedestrians will be prohibited from using these private roads and footpaths. Dated the 6th October. 2008. ' SAMSON LUKOBA, Legal Manager.