ADK(Aidos Kuneen)

I examined the Kenya bank Sumac Microfinance Bank, which ADK acquired.

About-Sumac-Bank-acquired-by-ADK

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
neokichi
This time, I will introduce Kenya’s bank “Sumac Microfinance Bank” which ADK acquired!
myako
myako
Thank you
neokichi
neokichi
If you want to know the overall picture of the ADK project, check out the article below!
ADK's-characteristics-and-future-potential
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

Sumac Microfinance Bank
Bank nameSumac Microfinance Bank
Websitehttp://sumacmicrofinancebank.co.ke
Phone number+254 20 224 9047
Head office addressConsolidated Bank House, Second floor, Koinange Street.P.O Box 11687-00100 Nairobi Kenya
Branch・NGARA
・KOINANGE
・NAKURU
・GITHUNGURI
・THIKA
Business description・ Savings and checking accounts
・ Fixed deposit accounts
・ Forex and foreign currency exchange
・ Asset finance (asset procurement)
・ Introduction of insurance

Business of Sumac Bank

neokichi
neokichi
Sumac bank is a microfinance bank that handles loan and insurance services.
myako
myako
What is microfinance?
neokichi
neokichi
Microfinance means small-scale finance, which is a financial service that provides services such as small loans and savings.
myako
myako
You can get a small loan.
neokichi
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.
business content
myako
myako
We offer various loans such as car and house loans, business and agriculture loans.

Sumac Bank headquarters and branches

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

THIKA branch opened on November 14, 2019.

Evidence that ADK acquired 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.

New Director takes his place in Sumac Board

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

neokichi
neokichi
by the way, wearing the white shirt on the right is ADK founder Ricardo Badoer, whose nickname is “Don”.
myako
myako
But can it be acquired with only 15.6% of shares?
neokichi
neokichi
Yeah, it seems that ADK is investing more in the future and ultimately aims to acquire 51%!
myako
myako
I see! I agree!
neokichi
neokichi
Below is an official document approved by the Central Bank of Kenya (CBK).
fficial document issued
neokichi
neokichi
There’s also an ADK don on the director page of the website.
Founder of ADK
myako
myako
If there is evidence so far, it is real that ADK has acquired sumac bank.
neokichi
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!
Daily Nation sumac Bank Daily Nation sumac Bank
myako
myako
There was also a newspaper interview! That ’s amazing!
neokichi
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
myako
I have a soccer team! ? That’s amazing♪
Sumac becomes the official Sponsor of Wazito FC

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
neokichi
The uniform contains “ADK + SUMAC” ♪
ADK+SUMAC
neokichi
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.

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

Why the African Sumac Bank?

neokichi
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
myako
What does non-AEOI mean?
neokichi
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
myako
Indeed, without anonymity, it cannot be established as an offshore bank. That is why non-AEOI countries chose Kenya.
neokichi
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
myako
Surely it would be amazing if could approach that layer.

Online banking news

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

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

myako
myako
You can create an account from anywhere in the world! In other words, start offshore bank! ?
neokichi
neokichi
Yeah! Finally! However, this article doesn’t mention how to start specifically, nor does it say to use ADK for remittance.
myako
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
myako
The acquisition of sumac Bank was true and I look forward to the future!
neokichi
neokichi
Yeah! ADK is very low awareness, so I’m looking forward to seeing what happens when it spreads ♪
neokichi
neokichi
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