Visa, Citi, Cellulant Partner to Ease Small Business Payments in Kenya
Visa and Citi have partnered with African fintech firm Cellulant to launch Citi Optimized Pay, a card-based supply chain finance solution to accelerate payments to small businesses in Kenya. “Small [...]
‘Chickengate’ Scandal Convict James Oswago, 36 Others Eye IEBC Chair
Former CEO of the Independent Electoral and Boundaries Commission (IEBC), James Oswago, has been shortlisted among 37 candidates eyeing the chairperson's position in the electoral body — despite being convicted [...]Rise, Parent Company of Hisa, Secures U.S. Broker-Dealer License
Rise, Hisa’s parent company, has secured a U.S. broker-dealer license through its affiliate, Risevest Financial Securities Limited. “We've successfully acquired a U.S. broker-dealer license through our affiliate, Risevest Financial Securities [...]
Marula Mining's Kenyan Subsidiary Signs Manganese Deal With World's Largest Steelmaker
London listed Marula Mining’s subsidiary Muchai Mining Kenya has signed a deal with Baosteel Resources South Africa, a subsidiary of the world's biggest steel producer, to purchase and sell manganese [...]Stima Sacco Shrugs Off KSh 108 Million KUSCCO Hit as Profits, Assets Surge in 2024
Stima Sacco is seeking to recover KSh 108 million it invested in the Kenya Union of Savings and Credit Cooperatives (KUSSCO) but says the amount is insignificant to its full-year [...]Banks Push for Common Reference Rate for Loan Pricing
Kenya’s banking sector is pushing for an overhaul of the existing risk based pricing model to a common reference rate, arguing that the current framework has made it hard to [...]Kenya’s Private Sector Activity Expands for Fifth Month-Stanbic PMI
Kenya's private sector saw slight improvement in business conditions in February, marking its fifth consecutive month of expansion, the latest Stanbic Purchasing Manager Index (PMI) shows. “We reiterate that businesses [...]More than 150 Mining Companies in Taita Taveta Operating Without Licenses
Kenya’s risks losing much needed revenue and community development due to illegal mining with Taita Taveta County alone having 158 companies operating without licenses, a review of mining records submitted [...]Competition Watchdog Helps SMEs Recover KSh 90mn in Delayed Payments
The Competition Authority of Kenya (CAK) resolved most of the 82 cases of abuse of buyer power it flagged in the year ending June 2024, helping suppliers recover KSh 89.52 [...]Stanbic Declares Record Dividend as Profits Hit KSh 13.7bn
Stanbic Holdings shares rallied to KSh 167.25 on Wednesday from KSh 157.75 after the lender reported it had registered a 12.8% growth in net profit. “We deliberately shielded our customers [...]Kenyan Smartphone Refurbishing Startup Badili Secures US$0.4mn French Investment
Badili, a Kenya-based smartphone refurbishment startup, has secured a US$400,000 debt facility from French development finance institution Proparco, marking a significant step in its expansion efforts across Africa. “Getting validation [...]US Aid Freeze, Pandemic Expose Vulnerability, Opportunities, in Africa's Healthcare Systems- VC Founder
The Covid-19 pandemic and the recent freeze on US aid have exposed the vulnerability of Africa’s healthcare systems but also created the momentum for locally made healthcare solutions, an early [...]
