I examined the Kenyan bank Sumac Microfinance Bank, where ADK became a major shareholder.

This article translated what I wrote in japanese into English. Although it may be unclear by the expression of English, if you read this article you can grasp the image of ADK(Aidos Kuneen)

neokichi

This time, we would like to introduce the Kenyan bank “Sumac Microfinance Bank”, which has become a major shareholder!

myako

Thank you

neokichi

If you want to know the overall picture of the ADK project, check out the article below!

What is the cryptocurrency ADK (Aidos Kuneen)? Complete explanation thoroughly!This article translated what I wrote in japanese into English. Altho...

Overview of Sumac Microfinance Bank

Business of Sumac Bank

neokichi

Sumac bank is a microfinance bank that handles loan and insurance services.

myako

What is microfinance?

neokichi

Microfinance means small-scale finance, which is a financial service that provides services such as small loans and savings.

myako

You can get a small loan.

neokichi

In other words, it provides a service that can be easily used by the poor. Below is the business content on the Sumac Bank homepage.

myako

We offer various loans such as car and house loans, business and agriculture loans.

Sumac Bank headquarters and branches

neokichi

I checked the head office with Google Street View! Located on the second floor of “Consolidated Bank House”.

THIKA branch opened on November 14, 2019.

SUMAC THIKA BRANCH NOW OPEN FOR BUSINESS!

Great people of Thika, welcome to Sumac's newest branch. We are now in your town! We have opened our doors this morning, and now we are ready for business! pic.twitter.com/JSu1wU4wiL

— Sumac Microfinance Bank Ltd (@SumacBank) November 4, 2019

Evidence that ADK has become a major shareholder of Sumac Bank

Below is an article published on the website of Sumac Bank, where Dubai investment company Badoer Investments, owned by ADK founder Ricardo Badoer, acquired 15.6% of Sumac Bank shares for 1 million dollars.

Click here for Sumac’s blog post → New Director takes his place in Sumac Board

neokichi

by the way, wearing the white shirt on the right is ADK founder Ricardo Badoer, whose nickname is “Don”.

myako

But can it be acquired with only 15.6% of shares?

neokichi

Yeah, it seems that ADK is investing more in the future and ultimately aims to acquire 51%!

myako

I see! I agree！

neokichi

Below is an official document approved by the Central Bank of Kenya (CBK).

neokichi

There’s also an ADK don on the director page of the website.

myako

If there is evidence so far, it is real that ADK has acquired sumac bank.

neokichi

further! An article about the coverage of sumac Bank was published in Daily Nation, the largest newspaper in East Africa! And there, ADK founder Don is reflected!

myako

There was also a newspaper interview! That ’s amazing!

neokichi

There are still more! Sumac Bank and ADK have become official sponsors of Kenya’s partial league soccer team “Wazito FC”. That means they own a soccer team.

myako

I have a soccer team! ? That’s amazing♪

Sumac Bank article → Sumac becomes the official Sponsor of Wazito FC

Wazito FC article → WAZITO WELCOMES ADK AND SUMAC MICROFINANCE BANK AS A STRATEGIC PARTNER

neokichi

The uniform contains “ADK + SUMAC” ♪

neokichi

I’ll introduce it because there was an article from Wazito FC. In this article, ADK’s acquisition of Tanzania Bank’s hakika bank and things related to listing of ETFs on the Nairobi Stock Exchange are written.

Club President @Donrico77 was present throughout the match to witness the action. #WazitoFC #WazitoVsKangemi @Sollari9 @ktikolo pic.twitter.com/shv069gpu2

— WAZITO FOOTBALL CLUB (@wazitofc) December 9, 2018

Click here for the article → Wazito FC President Ricardo Badoer enjoys match against Kangemi AllStars

Why the African Sumac Bank?

neokichi

We chose Kenya sumac Bank for three reasons.

1. Obtained a bank license from Kenya’s KCM (Central Bank)
2. Kenya is a non-AEOI country
3. Can approach poor people who cannot open bank accounts

myako

What does non-AEOI mean?

neokichi

In order to create an offshore bank, the first requirement was that the country was not a member of AEOI. If member country, will have to submit a notification form that includes your name, address, country of residence, etc. That’s why anonymity is not maintained and there is no demand for offshore banks.

myako

Indeed, without anonymity, it cannot be established as an offshore bank. That is why non-AEOI countries chose Kenya.

neokichi

Yeah. And there are so many people in Africa who don’t have bank accounts. I’m saying that even the poor will be able to provide bank accounts with online banking easily.

myako

Surely it would be amazing if could approach that layer.

Online banking news

neokichi

There is news that Online Banking will start on May 20, 2019!

Click here for Sumac’s blog post → Sumac Microfinance Bank to roll out digital banking

myako

You can create an account from anywhere in the world! In other words, start offshore bank! ?

neokichi

Yeah! Finally! However, this article doesn’t mention how to start specifically, nor does it say to use ADK for remittance.

myako

Is that so. But it seems that it will soon be in full operationIs that so. But it seems that it will soon be in full operation

Future developments of ADK

ADK aims to establish an offshore bank by connecting two banks, the Kenya bank “Sumac Microfinance Bank” and the Tanzania bank “Hakika Microfinance Bank”.

In addition, Uganda banks are in the final stages of acquisition, and EU banks are currently applying for licenses.

Once an offshore bank is established, you can open an account online anywhere in the region. (Except for some areas such as Iran)

If that happens, it will finally be an inflow of offshore money.

One more thing! ADK is trying to make ETF the first among virtual currencies.
We aim to be listed on the NSE (Nairobi Stock Exchange).

myako

The acquisition of sumac Bank was true and I look forward to the future!

neokichi

Yeah! ADK is very low awareness, so I’m looking forward to seeing what happens when it spreads ♪

neokichi

If you would like to know more about ADK, Come and Join us on Telegram!