we can succeed in reducing the cost of credit and also grow your business. there is no other opportune moment for all businesses including banks to realise that success is sweeter when all players prosper and success begets success. with these remarks, ladies and gentlemen, it now remains for me to wish all the businessmen and women in nakuru success in their endeavours towards prosperity of their businesses. successes of your businesses will directly contribute towards our desired economic growth of becoming a middle income country as envisaged in vision 2030. thank you and god bless you all.

period, the number of bank branches in nakuru has increased from 18 in 2006 to 27 in 2009 but even more in its hinterland. this increase explains the prevailing business potential in nakuru town and its environs. the increase in the number of banks in nakuru is in line with central bank ’ s desire of promoting financial inclusion. as per the financial access survey of june 2009, only 23 percent of the kenyan population aged above 18 years is banked. this state of affairs is not acceptable and we expect the level to increase significantly by the year 2012 given the various efforts central bank and its partners have put in. these include : the licensing of deposit taking microfinance institutions, whose focus is the lower end of the market, which is concentrated in the rural and peri - urban areas. the licensing of credit reference bureaus, which provides an opportunity for individuals and businesses to rely on their information capital as an alternative form of collateral unlike the traditional physical collateral, to secure credit facilities from banks. approval for banks to engage third parties to provide certain banking services. we believe that this will further increase the outreach of banks to most corners of the country. flexible space for banks to roll out very incentivised products using the available technological platforms. currency centres to reduce costs of doing business. ladies and gentlemen : the increase in the number of banks in nakuru is an indication that the town is in the process of developing the requisite infrastructure necessary to support the activities of the banks. banks have probably been attracted to nakuru by its uniqueness of being both an agricultural, tourism and industrial town. institutions of higher learning have also not been left behind in realizing the potential of nakuru to create adequate employment opportunities for their graduates. partnerships between businesses and such institutions of learning is one of the surest ways of developing relevant professionals to contribute to the town ’ s growth. nakuru is thus ready for a vibrant business centre and to serve its hinterland. ladies and gentlemen : allow me now to move on to my second point which is the upcoming currency centre in nakuru. the cash based nature of our economy cannot be overemphasized. the central bank has therefore been reviewing the currency management mechanism to ensure availability of “ clean money ” at a reasonable cost to kenyans. the bank, in conjunction with the kenya bankers association ( kba ) has embarked on the establishment of currency centres. these centres are expected to reduce the operational costs incurred by banks in moving cash to