Author: James Wambua

Ghana-based Zeepay has secured support from Africa50, Oikocredit, Injaro, Verdant Capital Hybrid Fund, and I&P. The firm is set to ehancing its offerings to International Money Transfer Organizations, senders and recipients of remittances. Last year, the company processed 10 million remittance transactions amounting to over $3 billion. Cash transfer giant Zeepay has successfully closed a substantial equity investment round that is poised to power its business in new territories. Led by Pan-African investment heavyweights including Africa50, Oikocredit, Injaro, Verdant Capital Hybrid Fund, and Investisseurs & Partenaires (I&P), this financial infusion is poised to turbocharge Zeepay’s ambitious expansion across Africa and…

Kenyan doctors have rejected a $18.3 million (KES2.4 billion) offer to return to work. The top demands of over 7,000 medics include immediate hiring of trainee doctors, adequate medical insurance coverage for doctors and their dependents, and fixing delays in pay. The labour boycott also calls for paying doctors working in public hospitals as part of their higher degree courses. In a move that further throws Kenya’s healthcare system into a spin, public hospital doctors under the Kenya Medical Practitioners, Pharmacists, and Dentists Union (KPMDU) lobby have rejected a $18.3 million (KES2.4 billion) offer to leave the streets and go…

Across Ghana and Ivory Coast, climate change, illegal mining, cocoa industry woes, and a devastating disease known as swollen shoot have conspired to end West Africa’s cocoa supremacy. In Ivory Coast, 30% of cocoa plantations are infected by swollen shoot disease. Upto 600,000 hectares under Cocoa in Ghana are infected, too. The crisis in West Africa is offering opportunity to Ecuador, Brazil and Peru to become global cocoa production titans. A double whammy of a devastating disease coupled with unchecked gold mining activities has set up a storm that is fast threatening to kill West Africa’s Cocoa supremacy. For decades,…

Kenya’s equity market has received an upgrade on its classification by the FTSE Russel Index from “Restricted’ to “Pass” on the repatriation of capital and income. This development partly indicates that Kenya is now a maturing market, characterised by increased transparency, liquidity, and a growing investor confidence. Across Africa, data shows that an estimated $700 million was reported held in 11 African countries, with Nigeria accounting for the lion’s share. FTSE Russell, a global provider of analytics, benchmarks and data services, has endorsed the Nairobi Securities Exchange Plc (NSE), ushering a new era in Kenya’s financial services industry. The NSE…

As millions of people in Africa go to bed hungry today, tonnes of food will end up in landfills, too. A UN report identifies gaps in Africa’s retail and food service sectors, presenting a significant hurdle in fully understanding the scope of food wastage. The UNEP Food Waste Index Report 2024 identifies critical areas where action is needed to address the challenge in Africa. An estimated one billion meals go to waste every day in Africa and across the world, the UNEP Food Waste Index Report 2024 reveals. The report, which shows food waste continues to hurt the global economy, adds…

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Bassirou Diomaye Faye, a former tax collector, is Senegal’s president-elect. Faye has promised to embark on a fresh chapter in Senegal’s leadership following months of political violence and arrests of opposition leaders. Outgoing President Macky Sall has termed the outcome of Sunday’s vote, which saw his preferred candidate Amadou Ba defeated, a victory for Senegal. Bassirou Diomaye Faye, a former tax collector, has promised a new chapter in Senegal’s future following his victory in the bitterly contested presidential election in Senegal held on Sunday. Bassirou Faye, 44, was declared winner having rode on a wave of frustration among the young…

Kenya’s National Security Council is currently scrutinizing cybersecurity threats posed by TikTok. Lawmakers are citing data privacy, cybersecurity threats, and TikTok’s potential as a primary conduit for misinformation in their push to restrict its use in government-issued devices. Already, TikTok is accused of cases of abuses in Kenya, including identity theft, proliferation of fraud, and spreading sexually explicit content. Authorities in Kenya are at a cybersecurity crossroads, contemplating joining Somalia to become the second African nation to enforce TikTok ban on government-issued devices. This move, revealed by Cabinet Secretary Prof. Kithure Kindiki cites rising cybersecurity threats posed by social media…

East Africa’s banking giant KCB Group reports heightened operational expenses, which surged to $627 million in 2023, up from $447.9 million in 2022. The costs are associated with the consolidation of its subsidiary in the Democratic Republic of Congo, Trust Merchant Bank (TMB), Additional expenditures were related to a voluntary retirement scheme as well as litigation fees. KCB Group, one of East Africa’s banking giants, has reported a net profit decline to $282 million for the year ending December 2023, from $307 million in 2022. The bank has attributed this decline to increased operational costs and higher provisions for bad…

Using Nobel-Prize-winning CRISPR gene-editing technology, scientists have made a huge stride in eliminating HIV from infected body cells. Research from the University of Amsterdam is promising a future where the complete eradication of the virus could become a reality. With an estimated 25.6 million people living with HIV in Africa, the continent remains at the epicentre of the HIV/AIDS epidemic. A new scientific breakthrough is offering hope in the battle against the HIV/AIDS virus that has long evaded a definitive cure, leaving millions of people in Africa devastated. By harnessing the precision of Nobel-Prize-winning CRISPR gene-editing technology, scientists say they…