Author: Wanjiku Njugunah

Wanjiku Njuguna is a Kenyan-based business reporter with experience of more than eight years.

Fintech in Africa

McKinsey report found that fintech in Africa is the fastest-growing startup industry, raising over US$1.3 billion in 2021 The industry is being supported by several trends, including smartphone ownership, declining internet costs, and a young, fast-growing, and rapidly urbanising population Cash is still used in around 90% of transactions in Africa, which means that fintech revenues have huge potential to grow The top challenges that fintech may face include reaching scale and profitability, navigating an uncertain regulatory environment, managing scarcity, and building robust corporate governance foundations A new finding named fintech in Africa as the fastest-growing startup industry, raising over…

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The PMI Survey has found that Kenyan businesses witnessed increased demand for their exports in the international market in November 2022 New order inflows received by Kenyan businesses rose in November, extending the current growth sequence to three months Although marginal in November, the rate of employment growth was the quickest since July 2022, attributable to a rise in new orders Kenyan businesses witnessed increased demand for their exports in the international market in November 2022. This is according to the latest Purchasing Managers’ Index (PMI) commissioned by Stanbic Bank Kenya. The index found that the rise in export orders…

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KCB Kenya has entered a deal with the Kenya National Chambers of Commerce and Industries (KNCCI) to offer loans to over 50,000 members of the chambers The two entities entered a three-year strategic partnership, opening a credit line for Small and Medium-Sized Enterprises (SMEs) across the country Beyond the credit line, members of the KNCCI will also access non-financial solutions, including advisory, networking opportunities and training KCB Kenya has entered a deal with the Kenya National Chambers of Commerce and Industries (KNCCI) to accelerate access to loans to over 50,000 members, mostly small and medium-sized enterprises (SMEs). The two entities…

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The Kenya Shilling depreciated by 0.9% against the US Dollar to close the month of November at KSh 122.4, from KSh 121.3 recorded at the end of October 2022 A Cytonn Investments report has partly attributed the depreciation to increased dollar demand from importers, especially oil and energy sectors, against a slower supply of hard currency The report said it expects the Kenya shilling to remain under pressure for the rest of the year owing to several factors, such as rising oil prices The Kenya Shilling depreciated by 0.9% against the US Dollar to close the month of November at…

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A new report by Kaspersky has revealed that from January to September 2022, computers in the industrial control systems (ICS) environment were attacked using multiple means Most attacks on ICS infrastructure came from the Internet, followed by attacks made through email clients Companies or organizations should conduct regular security assessments of OT systems to identify and eliminate possible cyber security issues A new report by Kaspersky has revealed that from January to September 2022, computers in the industrial control systems (ICS) environment were attacked using multiple means. In the Middle East, Turkey and Africa region, malicious objects were blocked on…

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Safaricom Ethiopia Service Revenue for the first month of operations was KSh 9.1 million, while Total Revenue, including handsets sales, was KSh 98.3 million Safaricom Kenya delivered a solid set of results despite the prevailing macroeconomic challenges leading to a tough operating environment in Kenya and elevated pressure on consumer spending In Kenya, voice service revenue dropped by 3.8% to KSh 39.88 Billion; Mobile Data revenue grew by 11.3% to KSh 26.30 Billion, while M-PESA revenue grew by 8.7% to KSh 56.86 Billion Safaricom has registered its first revenue from its Ethiopia operations in its first reporting cycle since the…

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Logistics company Sendy says it has received funding of an undisclosed amount to help scale its logistics and fulfillment services in Kenya, Uganda, Nigeria, and Cote d’Ivoire Sendy said it had received funding from MOL PLUS, which is the Corporate Venture Capital of Mitsui O.S.K. Lines Sendy provides the easiest way for businesses of any size to move goods, enabling them to drive more efficiency and growth Sendy says it has received funding of an undisclosed amount to help scale its logistics and fulfillment services in Kenya, Uganda, Nigeria, and Cote d’Ivoire. On November 9, 2022, the logistics company said…

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Businesses in Kenya only saw a mild improvement in operating conditions in October 2022 The latest Purchasing Managers’ Index showed that ongoing concerns about the rising cost of living led to a softer expansion in new orders and a renewed drop in output Inflationary pressures remained severe, as firms highlighted a record increase in purchasing costs from the previous month According to the latest Purchasing Managers’ Index, businesses in Kenya only saw a mild improvement in operating conditions in October 2022. The Stanbic Bank Kenya survey showed that ongoing concerns about the rising cost of living led to a softer…

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KCB Bank Kenya has set aside KSh 250 billion to fund women entrepreneurs in the next five years, cementing the Bank’s role in catalyzing economic growth In a newly revamped women offering, the Bank will extend the funding to women-led and owned Small and Medium Enterprises (SMEs) across the country Under the KSh 50 billion a year platform, Female-Led and Made Enterprises- FLME, KCB Bank seeks to support entrepreneurship, job creation, and strengthen its outreach KCB Bank Kenya has set aside KSh 250 billion to fund women entrepreneurs in the next five years, cementing the Bank’s role in catalyzing economic…

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Kenya Breweries Limited (KBL) has launched a campaign to recruit over 5,000 new farmers to grow sorghum to produce Senator Keg beer Through East African Maltings Limited, KBL’s contract farming programme, Mtama Ni Mali, sources 100% of raw materials locally, providing a source of livelihood to over 40,000 smallholder farmers KBL provides a guaranteed market for farm output at competitive prices and, in the last financial year, paid over Ksh1.2 billion to smallholder sorghum farmers across the country Kenya Breweries Limited (KBL) has launched a campaign to recruit over 5,000 new farmers to grow sorghum to produce their value beer,…

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