According to Forbes, Oracle Corp, has won the bid to acquire the entirety of TikTok’s operations in the United States, from its parent company ByteDance which is based in Beijing China. This is coming just weeks after United States President; Donald Trump made it known weeks ago that the TikTok application would be banned in the United States, unless its operations within the country were sold to an American company. Oracle reportedly won the bidding ‘war’ for TikTok’s operations in the United States after outbidding fellow technology giant; Microsoft. Microsoft’s bid was a joint offer with retail behemoth; Walmart who…
Author: Tobey
According to reports Eva Ngigi has been appointed by multinational financial services corporation; Visa as its new country manager for Kenya. She is coming with an impressive 15 years of experience in the banking industry were she held positions at a number of top financial institutions like Cooperative bank and CfC Stanbic, with her most recent appointment being Project Lead at Standard Chartered’s SC Ventures. She also worked in the transaction-banking department at Standard Chartered, where she grew through the ranks to become the Transaction Head for Standard Chartered’s commercial banking segment across East Africa. In addition a sales strategy…
According to recent news reports the Kenya Airports Authority (KAA), will be building an airport in Nakuru county. This is coming after the establishment finally decided on a contractor for the project. The project which will cost a total of 3 billion Kenyan Shillings, will be located at the 81Tanks Battalion barracks. It will also see the Lanet Airstrip get upgraded to a state of the art international airport suitable for civilian air traffic and at par with today’s standards. The Kenya Airports Authority (KAA) revealed that the construction which is in partnership with the Nakuru county government, will be…
The World Bank, via its International Development Association (IDA), has reportedly approved the sum of 750 million dollars (81.4 billion Kenyan Shillings) as funds for Kenya’s North Eastern projects; called the Horn of Africa Gateway Development Project (HoAGDP). The project is geared towards creating digital access and connectivity to social services for the more than 3.2 million people who live in the region, while also stepping up the transportation of goods and individuals. The 750 million dollar funding, will help improve at least 365 kilometres of the 740 kilometre Regional Road Corridor that is the Isiolo to Mandera road. It…
According to recent reports one of Africa’s biggest retail giants; Shoprite, has made it known that it will exiting Kenya by December of this year (2020), as a result of heavy losses incurred. The decision to leave, is coming barely two months after the retail giant first made it presence known in East Africa. One of its retail outlets in Kenya, has already been shut down. As of the time of writing this article, only two of a total of three outlets are still operational. Shoprite in statements attached to its financial results for the year which ended on…
When it comes to platforms with the most applications, almost none comes close to Alphabet’s Google Play Store. It currently has almost 3 million apps and while not all of them should be on your phone (obviously), it is still a very impressive feat. Today’s article will basically introduce you to Android applications that you should definitely consider having on your phone. From fitness and health enthusiasts, to music lovers, there is something for everyone. While these apps are chosen based on factors like design, User Interface (UI) and functions, they are in NO particular order. Just think of this…
Absa Group Limited formerly known as Barclays Africa Group Limited will be discontinuing the use of cheques as a method of payment by the end of 2020 as a result of the decline in its use in recent times. It will however, still honour all cheques from third parties. An article on Money Web (www.moneyweb.co.za) made it known that Absa Group Limited will be discontinuing the method of payment and focusing on growing its digital payment methods. And excerpt from the article read, “…Absa made a business decision to exit cheques as a payment instrument by the end of this…
Multilateral development finance institution; Africa Development Bank during its annual General Meeting (conducted virtually this time), has re-elected Akinwumi Adesina as its President. During this the electronic vote which was held on the 27th of August 2020, the president elect won his second five year tenure. He was also the sole candidate in this year’s election. The Africa Development Bank President made it known that in the past five years he has moved towards accelerating development in Africa. Advanced agricultural technology aimed at improving food security has been made available to 141 million people in Africa, an additional 18 million…
Mobile communications giant; Vodacom Group, has appointed Raisibe Morathi as its new Group Chief Financial Officer (CFO). The appointment will take effect from the 1st of November 2020. The newly appointed Chief Financial Officer (CFO) of Vodacom Group, will also be joining the Vodacom Group Board as an Executive Director. The news of Raisibe Morathi’s appointment is coming after Till Streichert resigned in June 2020. Upon Streichert’s resignation, Sitho Mdlalose stood in as the acting Chief Financial Officer (CFO) of Vodacom Group. The newly appointment Group Chief Financial Officer (CFO) is a Chartered Accountant (SA) who has completed an Advanced…
Ambassador Erastus Mwencha has been appointed by Equity Bank Kenya as its new Board Chairman, a position which was previously occupied by Professor Isaac Macharia who has been appointed as the Board Chairman of Equity Group Holdings. Before his appointment, Ambassador Erastus Mwencha was the Deputy Chairperson for the Africa Union Commission (AUC). As its Controlling Officer, he handled the finances and administration of the Africa Union Commission (AUC). He supervised the development of two Africa Union Commission (AUC) Strategic Plans. The first one was from 2009 to 2012, and the second was from 2012 to 2017. He also played…
Telecommunications giant; Safaricom through its Spark Fund, has dedicated 540 Million Kenyan Shillings (around 5 million dollars) towards the funding of tech startups in the East African nation of Kenya. This move is a part of Safaricom’s aim of supporting tech enterprises with great potential while also investing in and supporting startups what are in one way or the other aligned with Safaricom’s plans. Spark Fund aims to deliberately partner with startups that are tech enabled and ripe for either an acquisition by Safaricom or a direct partnership. Each startup, will be given access to business development support, technical assistance,…
In a very surprising move Kenya’s national carrier; Kenya Airways, has made it known that it will lay off half of its pilots as a way helping it reduce costs during the ongoing Coronavirus pandemic. This decision is expected to affect around 207 of the airline’s 414 pilots and will be carried out over a period of three (3) years, leading to an estimate of 3.24 billion Kenyan Shillings saved as a result. Kenya Airways (KQ), stated that while its pilots consist of 10 percent of the its entire workforce, their salaries are 45 percent (6.48 Kenyan Shillings) of its…
According a number of news publications the Kenyan government has now proposed new traffic fines. These traffic fines mean that pedestrians and motorists could potentially pay a collective total of 3 billion Kenyan Shillings every year. Driving through pedestrian walkways or pavements will now attract a fine of 5,000 Kenyan Shillings. Driving through a red traffic light will result in a 3,000 Kenyan Shillings fine. Reversing in areas that are not designated will attract a fine of 3,000 Kenyan Shillings. Each speed violation will now lead to fines ranging from 500 Kenyan Shillings, to as much as 10,000 Kenyan Shillings.…
Users of telecommunications powerhouse; Airtel, will now be able to send and receive money with their Airtel mobile money wallets, across more than 200 locations all over the world through MoneyGram. This has been made possible as a result of a new partnership between Airtel and the American money transfer company; MoneyGram International, Inc. The deal however, has not yet been approved by the regulatory body; Communication Authority of Kenya(CAK). This deal with MoneyGram whose headquarters is in Dallas, Texas will help all users of Airtel’s mobile money transfer platform, access MoneyGram’s services in all countries where it operates. According…
