Browsing: Digitisation

• Kenyan landlords and property managers are losing up to 30 percent of their monthly revenue due to a lack of automation. 
• Most landlords lose revenue as they are unable to track and properly reconcile tenants’ payments from different channels.
• Additionally, landlords lose critical data including tenants statements, financial records, complaints, repair and maintenance data.

Automation in the lucrative housing business in Kenya is critical in plugging rent leakages. Sophia is a landlord in Kenya’s Mlolongo area, just a few kilometers from Nairobi’s Central Business District. Like many other landlords, she is constantly having to deal with reconciliation of payments every month. 

The advent of technology adoption in the country has seen the cropping up of different payment avenues including mobile money transfers, bank to bank transfers and the traditional cash payments. 

With a multitude of payment platforms today, it is easy for some cash to get lost or be unaccounted …

• Faulu Bank, a microfinance firm in Kenya, unveils a digital platform for real time cash transfer between banks and their clients.  
• It complements its recent innovations such as the Faulu DigiCash App, and the tap-and-pay digital cards.
• The bank has so far invested over $1.42 million in digitizing services. 

Kenya’s Faulu Bank has unveiled a new banking solution offering large enterprises and corporations seamless, real-time, and cost-effective transfers between banks and their corporate clients.

The solution is one of the digital offerings Faulu Bank is rolling out this year as it turns into a digital-first lender.

Faulu Bank’s DigiCash App

It complements its recent innovations such as the Faulu DigiCash App, and the tap-and-pay digital cards that allow users to transact on the go.

With the introduction of the Host-to-Host solution, Faulu Bank has so far invested over $1.42 million in digitizing services.

Speaking during the official launch of the …

• Financial technology has become an important support for the development of countries around the world.
• Digital technology, data resources, and intelligent technology can promote digitalization across the globe.
• At the global meet, experts provided insights on the opportunities and challenges of digital transformation in the financial sector within the Arab world.

Investors across the world are closely monitoring digital transformation, financial inclusion and sustainable finance trends in the Arab world. These revelations emerged as a top agenda during the just concluded Annual Investment Meeting (AIM) in Abu Dhabi, UAE.

Director and Advisor at the Secretary General Office–Union of Arab Banks Rajaa Kammouny highlighted the challenges banks within the Arab world are facing while calling for readiness to tackle future challenges. 

Digital transformation in the Arab World

Under the Digital Transformation of Financial Sectors in the Arab World and the Role of Financial Technology in Economic Diversification discussion forum, experts offered …

• The programme, being implemented with the support of the World Customs Organisation (WCO), is aimed at bolstering the region’s private sector by encouraging participation in both regional and international trade.
• Intra-regional trade within the East African Community (EAC) is on an upward trajectory, standing at $10.17 billion as of September 2022 while total trade with the rest of the world stood at $62 billion, highlighting a need for further improvement. This represents a 20 percent share of Intra-trade to global trade.
• The digitisation of the CETs will see the region’s business community — exporters and importers- gain access to trade information from the private sector in international trade.

The East African Community (EAC) secretariat has embarked on the digitising its Common External Tariffs (CET) a move that is billed to encourage the countries’ participation in regional and international trade.

The CET is meant to protect the member countries of the …

In the East African powerhouse, agriculture insurance startup Pula Advisors was featured on the list for its innovation and impact in using technology to provide agriculture insurance to millions of smallholder farmers in emerging markets.

The firm which was founded in 2014 has used technology products through agriculture insurance and digital agronomy to advise and ensure many farmers adapt to an increasingly unpredictable climate.

“Farmers in emerging markets are the most hardworking citizens of the world yet the most likely to already feel the impact of climate change. The future is in farmers’ hands; they only need the appropriate technology and tools and then they can feed the world,” The firm’s CEO Thomas Njeru said.…

As digital service usage is still accelerating, it’s important to adapt your customer service to this change in behaviour.
According to the Communications Authority of Kenya (CA), by June 2020, mobile phone penetration had almost reached 120 per cent in Kenya, with subscriptions increasing by 10 per cent year-on-year. In Africa and the rest of the world, mobile technology is connecting consumers in new ways.…