##te that kepss simplifies payment processes as well as enabling cross border payment and transfer of value within the region in an easier, safer and more efficient way. ladies and gentlemen : in a new system and a new way of doing business, better is always resisted – we went through the same motion with the cheque truncation system. i challenge the central depository agents to impress upon their clients the immense benefits accruing from the use of the kepss for settlement of nse transactions. these benefits include : • enhanced efficiency in the settlement process and risk control mechanisms ; • enhanced safety through use of the swift infrastructure ; • increased accessibility through commercial banks ; • improved investor confidence leading to increased activities at the nse ; • an efficient audit trail. today ’ s launch therefore marks another milestone in revolutionising the payments ecosystem in kenya and in particular in the securities exchange market. the system successfully went live on 15th january with the settlement of transactions concluded at the nairobi securities exchange ( nse ) being executed through the central bank ’ s kepss system. therefore, as we celebrate with the cdsc, cma, nse and indeed the entire capital markets fraternity, we are also affirming the potential for more innovativeness and enhancement of safety and efficiency through collaborations and innovation in payment and settlement systems. in doing so, we shall play our role in enabling the attainment of the national economic goals envisaged under vision 2030. distinguished guests, ladies and gentlemen : let me conclude my remarks by emphasising the important role that an efficient settlements system plays in enhancing the deepening of capital markets. as kenya aspires to become a regional and international financial centre, the centrality of efficient payments and settlements system cannot be gainsaid. the model we are about to launch is one more step towards achieving that goal. thank you bis central bankers ’ speeches

njuguna ndung ’ u : investing differently in women speech by prof njuguna ndung ’ u, governor of the central bank of kenya, at the african women ’ s economic summit, nairobi, 18 – 20 march 2010. * * * the right hon. raila odinga, prime minister of the republic of kenya ; hon. uhuru kenyatta, deputy prime minister and minister for finance of the republic of kenya ; mrs. graca machel, founder, new faces, new voices network ; dr. donald kaberuka, president, african development bank ; distinguished guests ; ladies and gentlemen : first, rt. hon. prime minister, may i take this opportunity to thank you most sincerely for finding time from your busy schedule to grace this important forum whose theme is investing differently in women. your presence demonstrates the seriousness with which the government of kenya embraces the role of women and participation in the development process and more importantly their role in the financial sector. may i also heartily thank the new faces, new voices network ( nfnv ), the founder madame graca machel and the african development bank ( afdb ) represented by the president, dr. donald kaberuka for choosing to host the inaugural african women ’ s economic summit ( awes ) in nairobi. this is a great honour to us in kenya. i also warmly welcome all international delegates represented here including fellow central bankers from the region. the rt. hon. prime minister, the central bank of kenya is delighted to partner with afdb and nfvn in this summit especially when the central bank and indeed the government of kenya is in the process of promoting more inclusive financial policies. in the recent past, the government has introduced new institutions to support, shape and deepen the financial sector. examples include : licensing and supervision of deposit taking microfinance institutions ; savings and credit co - operatives ( saccos ) and the saccos regulatory authority ; amendment of the banking act to allow shariah - compliant banking products ; licensing of credit reference bureaus to facilitate credit information sharing ; agent banking for cost effective financial outreach. since we have seen commercial bank branch expansion by over 100 branches in three years, deposits have increased from ksh. 800 billion on to ksh. 1. 01 trillion and accounts from 2. 4m to 8. 4m in the same period. the rt. hon. prime minister, as we commence deliberations at this important summit, it is