Author: Wanjiku Njugunah

• Industry experts now say that the lack of youth involvement in Agriculture is inhibiting the sector’s growth
• Farmer on Fire Founder Wangari Kuria said that young people in Sub-Saharan Africa often view agriculture as inefficient and uninteresting
• Kuria said the issue has led to a situation where the average age of Africa’s farmers is 60 while the median age of the population is 19

An industry expert has said that the lack of youth involvement in Agriculture is inhibiting the sector’s growth.

Farmer on Fire Founder and Chief Executive Officer Wangari Kuria said that young people in Sub-Saharan Africa often view agriculture as inefficient and uninteresting.

Kuria said the issue has led to a situation where the average age of Africa’s farmers is 60 while the median age of the population is 19.

“Young people aspire to formal sector employment and modern urban lifestyles. They do not consider agriculture as …

• Stanbic Bank has revealed that it has empowered over 45,000 women entrepreneurs in the last three years
• Under its DADA initiative, the bank further revealed it had provided innovative solutions to women amounting to KSh 6.9 billion  ($58.5 million) in lending
• As a way of supporting women growth, the bank has been providing training and capacity building which have so far benefitted more than 17,000 women

Kenyan-based lender Stanbic Bank has revealed that it has empowered over 45,000 women entrepreneurs in the last three years.

The bank further revealed it had provided innovative solutions which have enabled Dada’s access KSh 6.9 billion  ($58.5 million) in lending.

The bank has additionally provided credit guarantee schemes to the tune of over KSh 1 billion ($8.4 million) and over KSh 40 million ($339,587) in grant funds.

Under the credit guarantee scheme, the bank is working with the African Guarantee Fund (AGF) and the …

• A severe shortage of health workers in Africa is undermining access to and provision of health services even though countries in the region have tried to bolster the workforce
• A study by the World Health Organization (WHO) found that the region has a ratio of 1.55 health workers (physicians, nurses and midwives) per 1000 people
• The figure is below the WHO threshold density of 4.45 health workers per 1000 people needed to deliver essential health services and achieve universal health coverage
• The shortage is a consequence of several factors, including inadequate training capacity, rapid population growth and international migration

A new report has indicated that a severe shortage of health workers in Africa is undermining access to and provision of health services even though countries in the region have tried to bolster the workforce.

The report by the World Health Organization (WHO) dubbed “The health workforce status in the WHO …

• Jubilee Holdings Limited’s shareholders have approved a final dividend of KSh 13.0 per share
• The payout follows the exceptional results posted in 2021, where the gross profit hit KSh 8.4 billion, after increasing by 66% from the KSh 5.1 billion reported in 2020
• The performance was despite the increase of medical and life claims relating to COVID-19 cases, which was partly driven by the gain on the sale of controlling interests in the general businesses in Kenya and Uganda

Jubilee Holdings Limited’s shareholders have approved a final dividend of KSh 13.0 per share, bringing the total dividend payout to KSh 14.0 (including a special dividend of KSh 5.0).

The payout follows the exceptional results posted in 2021, where the gross profit hit KSh 8.4 billion, after increasing by 66% from the KSh 5.1 billion reported in 2020.

According to the regional insurer, the performance was despite the increase of medical …

Start-ups in Africa have raised over KShs. 100 billion in the first quarter of 2022, breaking the record established in the third quarter of 2021 by just a few million. Compared to last year, there’s been 2.5x more funding raised in Q1-22 than in Q1-21.

However, despite the huge growth, funding flowing to African start-ups is still a drop in the ocean of global venture funding representing just one per cent of global venture funding.

“Governments in Africa must invest in this space through reducing the burden of regulation, embedding incentives within legislation and investing in science and technology skills,” Mumo added.

The 7th edition of Digital and Technology Week (DTW) 2022 formally Social Media Week attracted over 600 participants in Africa.…

• New data now shows that over 40 per cent of Small and Medium Enterprises (SMEs) in Africa are earning more money than before the pandemic
• Mastercard indicates that 46 per cent of SMEs in Africa, Eastern Europe, and the Middle East have surpassed pre-pandemic levels
• Online business and international sales are key drivers, with seven in ten (71 per cent) recording above-global-average growth in online sales, while 77 per cent are planning to do more business internationally

Over 40 per cent of Small and Medium Enterprises (SMEs) in Africa are earning more money than before the pandemic.

New data by Mastercard indicates that 46 per cent of SMEs in Africa, Eastern Europe, and the Middle East have surpassed pre-pandemic levels.

According to the Borderless Payments Report, online business and international sales are key drivers, with seven in ten (71 per cent) recording above-global-average growth in online sales, while 77 per …

• Mastercard has partnered with the Kenya Tourism Board (KTB) to help the country’s tourism sector rebound to its pre-pandemic level
• The MoU aims to drive the growth of tourism numbers in Kenya by leveraging various Mastercard channels, including its Priceless.com platform
• It also includes increasing transparency on tourism trends, anonymised traveller profiles and economic impact through Mastercard’s Data Insights capabilities, which will enable KTB to plan, execute and improve its campaign reports

Mastercard has partnered with the Kenya Tourism Board (KTB) to help the country’s tourism sector rebound to its pre-pandemic level.

In a statement, Mastercard said the three-year collaboration is its first in Africa.

The MoU aims to drive the growth of tourism numbers in Kenya by leveraging various Mastercard channels, including its Priceless.com platform.

It also includes increasing transparency on tourism trends, anonymised traveller profiles and economic impact through Mastercard’s Data Insights capabilities, which will enable KTB to …

• Experts have projected that Kenya’s cost of living will rise as fuel prices continue to increase 
• Cytonn Investments said that fuel is a major contributor to Kenya’s headline inflation and fuel prices are a major input cost in most of Kenya’s sectors.
• The experts noted that the business environment is expected to deteriorate even further as consumers are likely to cut spending

Economic experts have projected that Kenya’s cost of living will remain high following the recent hike in fuel prices in the East African nation.

In their latest report, experts from Cytonn Investments said that fuel is a major contributor to Kenya’s headline inflation and fuel prices are a major input cost in most of Kenya’s sectors. The sectors include manufacturing, transport, and energy.

Further, the experts noted that the business environment is expected to deteriorate even further as consumers are likely to cut spending.

The report came days …

• PesaPal has advised businesses in Kenya and the wider region to use fraud detection tools as more transactions move online and e-commerce becomes mainstream
• Outgoing Pesalink Chief Security Information Officer Stacy Chege noted that online fraud is a growing threat to Kenya’s economy and to the country’s personal financial security
• The expert said merchants must safeguard themselves and their customers against online payment fraud by integrating payment gateways like Pesapal as a secure checkpoint for online transactions

Businesses in Kenya should incorporate fraud detection tools as more transactions move online and e-commerce becomes mainstream.

This is according to the outgoing Pesalink Chief Security Information Officer Stacy Chege noted that online fraud is a growing threat to Kenya’s economy and to the country’s personal financial security.

The expert said merchants must safeguard themselves and their customers against online payment fraud by integrating payment gateways like Pesapal as a secure checkpoint for …