Browsing: Kenya

Norrsken22 plans on capitalizing on its general partners’ years of experience and investment philosophies to back startups in fintech, MedTech, Edtech, and market-enabling solutions such as B2B marketplaces and inventory management businesses.

Kolbe, whose previous firm Actis backed Egyptian fintech giant Fawry in 2019 as it prepared to go public, said Norrsken would look at Egypt ‘opportunistically.’ 

Deals from the country that may be of interest to the firm will be those planning an expansion into the four markets Norrsken22 is currently keen on, including Nigeria, Ghana, Kenya and South Africa.

The programme will facilitate access to the Royal Academy’s global network of experienced, high-profile and business experts, in addition to access to the alumni network upon completion of the programme.

Moreover, 2022 is the programme’s second consecutive year to render a digital experience, with rigorous support provided through person-to-person and group discussions.

Four finalists will pitch their revised and improved innovations and business plans to the judges in the presence of a live audience.

While tech has presented an avenue to create jobs, supply isn’t catching up with demand. Additionally, the continent’s best talents are leaving in droves to foreign companies in the U.S, Canada, the U.K., and Germany.

AltShcool Africa founded by Adewale Yusuf, Akintunde Sultan and Opeyemi Awoyemi last October in Nigeria, has already received more than 8,000 applications for its software engineering program which starts in April. 

These applications come from 19 countries (including 14 African countries) and Yusuf said the company received the most entries from Nigeria, Ghana, Uganda, Kenya and Botswana. 

The banking sector in Kenya was stable and resilient in the third quarter of 2021 The Quarterly Economic Review for…

Justice Makau’s ruling was as follows, “I find as decided in the Court of Appeal decision, the petitioner has a right to mechanise and adopt technology in its operations. The matter in dispute is therefore effectively concluded and settled in terms stated.”

If the cry of the workers’ Union is true, then this ruling threatens more than 50,000 workers’ jobs and allegedly, already over 10,000 tea pickers have lost their jobs to the machines.

However, the odds are pinned against the peasants, the Kenya Tea Growers Association says the loss of jobs has nothing to do with the machines but rather ‘…tea companies reducing their workforce through natural attrition.

The Crypto market in the world is looking ugly.

The bitcoin price fell to a three-month low on January 10, accelerating the slide that started when the Federal Reserve ignited a broad sell-off worth US$300 billion. The bank cautioned that it might move more quickly than previously expected to reverse policy meant to reinforce the economy during the Coronavirus pandemic.

Experts predict that the latest crypto fall will persist for weeks in the Federal Reserve measures continue to be more aggressive.

In 2018, the global textile industry’s worth stood at approximately $920 billion. The global Textile Market Analysis of 2021 to 2028 anticipates that the market could reach $1,412.5 billion by 2028.

The market drivers include the rise in consumer awareness, e-commerce platforms to support sales, and the fast-changing fashion trends in the industry.

The CEO of Basra Textiles, Ahmed Othmad, said on January 11 that the factory at Chunguni area in Zanzibar was targeting to export to markets across East and Central Africa.

In the first six months of the year, Kenya’s food imports had increased to sh103.34 billion. The figures collected by the Kenya Revenue Authority (KRA) showed that the food imports were sh12.35 billion more than the amount spent in the same period in 2020.

According to data from the national treasury, import expenditure increased by 29 per cent in the third quarter of 2021. China is the most significant contributor of Kenyan imports accounting for 31.6 per cent of the total bill from the Asian continent.

This is the fastest growth in the food import bill since a 60 per cent jump recorded in 2016 when the bill stood at sh82.83 billion. The exponential increase has been linked to the growing popularity of digital trading, allowing retailers and consumers to order and ship food and other commodities directly.

Bolt receives its largest-ever funding round, amounting to €628 million (US$716 million) to fast-track the mission to have cities move…

Toxic substances that are contained in e-waste contaminate the soil; however, they do not stop with the topsoil.

Heavy metals such as mercury, lithium, lead and barium leak through the earth all the way to the table water contaminating groundwater.

Now groundwater is the basic source of all water that we consume because groundwater is the water that eventually resurfaces as springs, ponds, streams, rivers and lakes.