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26-688: Sotik town is an urban centre situated in Sotik Sub-county within Bomet County in the Western region of Kenya and managed by Sotik Town Council. Initially, it was the home of Mugenik Barngetuny Araap Sitoni k, a prominent Kipsigis prophet of the late 19th century. Sotik is a metropolitan town with a majority of the residents from the Kipsigis ethnicity and a minority being from other ethnicities from Kenya including notably, Somalis and Indians . The town

52-413: A number of supermarkets, hotels, eateries, and small businesses dominating the town. The town has a district health centre within the town and St. Claire's Kaplong Mission hospital; as well as a sports ground and a cemetery. There are a number of government primary and secondary schools (including Kaplong Boys' High School and Kaplong Girls' High School) as well as private schools and a satellite campus for

78-498: A police outpost was created with a single police officer in the post. Also as a result of the massacre and punitive expedition, a gang of 1000 natives, a fine and sale of 20,000 head of cattle was used to construct roads in the Lumbwa reserve which makes up what is today's Sotik-Kericho highway; additionally, local labour from the natives helped construct the bridges in Sotik. Sotik by the 1930s

104-580: A subsidiary in Burundi. KCB Burundi commenced provision of banking services on 8 May 2012, having been granted a commercial banking license on 18 April 2012. With its establishment, KCB became the first financial services group to establish subsidiaries in all countries of the East African Community . In February 2020, KCB Burundi opened its third branch in the country in Gitega , Burundi's capital. This

130-445: Is also situated next to the town. The town is home to a New KCC creameries factory. Within town, there's a Kenya Farmers Association depot, an NCPB storage unit and a Kenya Animal Genetic Resources Centre outlet. The town has branches of Kenya Commercial Bank , Equity bank , Kenya Women Microfinance Bank and Bureti Tea Sacco as well as table-banking and lending firms outlets including Platinum Credit and Watu Creditors. The town has

156-510: Is home to Kalenjin music artist Philip Yegon , Kenyan athletes: Paul Kipsiele Koech and Mercy Cherono ; and Kenyan politicians: Lorna Laboso and the late Joyce Cherono Laboso . The establishment of Sotik town began with the arrival and settlement of the British colonialists in Kenya; Sotik being part of Lumbwa reserve that was annexed from the Kipsigis after Sotik Massacre in 1905. Afterwards,

182-539: Is understood by the Belgut Kipsigis to be a general term for Bomet and its residents (Usually derogative as Bomet Kipsigis, especially those from Trans-Mara are seen to be primitive and conservative- An attitude with roots from Lubwa treaty ). This is because Bomet town used to be called Sot, only to be changed to Bomet because it used to host an industry scale slaughter house during early post Independence period. KCB Group KCB Group Limited , also known as

208-764: The KCB Group , is a financial services holding company based in the African Great Lakes region. The Group's headquarters are in Nairobi, Kenya , with its subsidiaries being KCB Bank Kenya Limited , KCB Bank Burundi Limited , KCB Bank Rwanda Limited , KCB Bank South Sudan Limited , KCB Bank Tanzania Limited , KCB TMB Congo and KCB Bank Uganda Limited . As of June 2023, the Group had assets of US$ 12.84 billion (KSh:1.86 trillion) with shareholders' equity of US$ 1.5 billion (KSh:US$ 218 billion). In July 2015, news media reported that

234-713: The Nairobi Securities Exchange under the symbol KCB . The Group's stock is cross listed on the Dar es Salaam Stock Exchange , the Rwanda Stock Exchange , and the Uganda Securities Exchange . As of 31 December 2023, the ten largest shareholders in the KCB Group were as listed below: The chairman of the bank's board of directors is Andrew Wambari Kairu. Paul Russo is both the managing director and

260-504: The University of Kabianga . The Sotik Technical Training Institute is also located in the town. Sotik Constituency Sotik would have been Abagusii and Maasai territory before 1800 but with a treaty put forward by Menya arap Kisiara , the Maasai migrated to Narok ; and in the 1830s the arrival of the three sons of arap Turgat from Nandi ; led to a forceful and violent eviction of

286-650: The Abagusii from the reaches of Bureti ( Kapkatet ), to Keroka which has a meaning of 'look at home' in Kipsigis dialect. The arrival of the three sons of arap Turgat was followed by the arrival of the British and the Kipsigis rallied alongside the Nandi and resisted the construction of the Uganda railway ; which upon the death of Koitalel and by the agenda of the church against the Orgoik,

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312-458: The British administration and the local administration set aside 917 acres of land for establishment of the urban area with the following provisions: 500 acres of residential and business plots, streets, gaol, sanitation yard, municipal labour compound, water works, cemetery, churches, town hall, market, police station, native area, recreational grounds, railway station, war department, P.W.D yard, magistrate court and posts and telegraph. Additionally,

338-525: The Kenya Finance Act No. 57 of 2012, KCB Group announced in April 2015 its intention to incorporate a new, wholly owned subsidiary, KCB Bank Kenya Limited, to which it would transfer its Kenyan banking business, assets, and liabilities. The re-organisation converted KCB Group into a non-trading holding company that owns both banking and non-banking subsidiary companies. The shares of KCB Group are listed on

364-578: The Kipsigis signed the Lumbwa Treaty which saw the end of their resistance against the British. Sotik in its initial status was a stretch of plains where big game was practiced. It is in American records that America's 26th President:- Theodore Roosevelt Jr. liked to use the 405 Winchester centerfire rifle cartridge and on occasion killed lions. Sotik later became an agricultural district producing: Tea, Pyrethrum, Cotton, maize and dairy products. Sotik

390-417: The adjacent Kipsonoi river was projected to become a water source for the urban area as well as a power source as they hoped to construct a HEP power dam and exponentially, a creamery, maize mill, builder's yard, brick field, coffee curing works, sawmills and automobile engineering station. Although some of the projections for the town had not come to fruition viz HEP dam, military yard and railway station by

416-670: The chief executive officer of the banking group. Kenya Commercial Bank Burundi Limited is a commercial bank and subsidiary of KCB group in Burundi , licensed by the Bank of the Republic of Burundi , the national banking regulator. As of December 2015 KCB Burundi comprises 0.6 percent of the KCB Group's total assets. It is estimated that the bank's total assets were approximately US$ 33.6 million (KSh3.34 billion), as of December 2015. In February 2012, KCB Group received regulatory approval to establish

442-787: The first 20 percent of the government's shares in the company were sold through an Initial public offering on the Nairobi Securities exchange. The government has over the years reduced its shareholding to 23.6 percent. In the rights issue of 2010, the government further reduced its shareholding to 17.31 percent. KCB Tanzania Limited was incorporated in Dar es Salaam in 1997. Since then, KCB has opened 11 more branches in Tanzania. In May 2006, KCB extended its operations to South Sudan following licensing of KCB Sudan. This subsidiary now has over 20 branches in that country. In November 2007, KCB Bank Uganda Limited

468-553: The formation of municipality should be 10 kilometers in radius from the center of the town which the center is near postal office or kenya commercial bank.This development was set to improve the quality of the area in terms services provision that would be overseen by a board, since the Mayor position was not included in Kenya's 2010 constitution . Sotik is adjacent to Sotik tea farms, Sotik tea estates and Sotik tea companies. Evergreen tea factory

494-464: The government of Kenya acquired 60 percent shareholding in NGB in an effort to bring banking closer to the majority of Kenyans. In 1970, the government acquired 100 percent of the shareholding in NGB to take full control of the largest commercial bank in Kenya. NGB was then renamed Kenya Commercial Bank (KCB). In 1972, KCB acquired Savings & Loan Kenya Limited, which specialized in mortgage finance. In 1988,

520-763: The group was pursuing expansion plans into the Democratic Republic of the Congo , Ethiopia , and Mozambique . The history of Kenya Commercial Bank Limited dates back to July 1896, when its predecessor, the National Bank of India (NBI), opened a branch in Mombasa to handle the business that the port was attracting at that time. In 1958, Grindlays Bank merged with the NBI to form the National and Grindlays Bank (NGB). Upon independence,

546-444: The time of Kenya's independence in 1963, many other projects had been completed. Between December 2007 and February 2008, following Kenya's general elections of December 2007, post-election violence erupted and as a result, the town witnessed violence with records of rape, murder, arson and looting. This negatively impacted the town and held back its growth for a number of years. Before the constitution of August 2010, local government

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572-785: The transaction would cost approximately KSh15 billion/= (US$ 127 million then). KCB also agreed to acquire the remaining 15 percent ownership in the bank, not later than 2024. The deal requires shareholder and regulatory approvals in Kenya and DRCongo. In December 2010, construction of a new headquarters building began in the Upper Hill section of Nairobi. Construction is expected to take approximately two years, with anticipated occupancy beginning in January 2013. The new Kenya Commercial Bank Plaza (KCB Plaza) be 21 storeys tall, having about 15,960 square metres (171,800 sq ft) of rentable office space and enough parking for about 450 cars. The owners of

598-521: Was after years of stagnation due to political unrest. As of September 2020 , KCB Burundi maintained two branches in Bujumbura , and one in Gitega . In August 2022, KCB Group agreed to acquire 85 percent shareholding in Trust Merchant Bank at "1.49 times the book value".. At that time, the bank was the third-largest bank by assets in the Democratic Republic of the Congo . It is estimated that

624-560: Was opened. KCB currently has 14 branches in Uganda. In December 2008, KCB Rwanda began operations with one branch at Kigali. There are currently 11 branches spread out in the country. In 2012, KCB registered a subsidiary in Burundi, KCB Burundi, becoming the first bank in the region to be presented in all the African Great Lakes countries. Before 2015, KCB was both a licensed bank and a holding company for its subsidiaries. In compliance with

650-407: Was projected and mandated to become an administrative outpost as Chepalungu reserve was opened for cattle grazing to the natives as a mitigation for expulsion of the natives from Sotik and most of today's Sotik constituency became part of Kenyan White Highlands where tea growing , dairy farming , cotton farming and maize farming was practised. In pursuit of a thriving self-sustaining township,

676-507: Was provided for by the Local Government Act 1977, and not enshrined in the constitution. Sotik was mandated a town status and as such, it had a town council which managed roads, waste collection and disposal, revenue collection and burial of the destitute. In November 2021, State department for Housing and Urban Development Principal Secretary Charles Hinga Mwaura, revealed that Sotik town was qualified to be upgraded to Municipality and

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