The possibility of popular mobile money service; M-pesa’s separation from telecommunications giant; Safaricom has been one topic of conversation among lawmakers in Kenya and observers alike. Although the top brass and other members of staff at Safaricom disagreed with the suggestion and the former Chief Executive Officer (CEO) the late Bob Collymore stating at a point that Safaricom should not be punished for its successful, the split has continued to come up at various times over the years as a result of the belief that Safaricom has grown too large and will be more effectively run if the mobile money…
Author: Tobey
Popular Pan-African technology company that is built around a marketplace, logistics service and payment service; Jumia, has launched a brand new integrated logistics network facility and warehouse in Nairobi, Kenya. The logistics service enables the delivery of packages through a network of local partners in different countries, has continued to execute successful expansion moves consistently. The new integrated logistics network facility and warehouse which is 11,000 metres squared, will be a merging point for the numerous services offered by Jumia. It is expected that the new facility will also help the company expand its warehouse capacity in the East African…
According to reports, Kenyan companies are facing new challenges with regards to retaining and enlisting top talents. This is as a result of the increased participation of United States (US) technology behemoths including Amazon, Google and Microsoft on the African continent through more employment situations and better pay as they move to gain more market share in Africa. Amazon, Google and Microsoft have intensified their entry into the Eastern part of Africa and made Kenya one of their main focuses. This has resulted in a more concentrated hiring round with new Principal Technology Specialist employees getting paid as much as…
The East African nation of Kenyan will be putting in place a Ministry of Diaspora to help tackle the issue Kenyans outside the country face while also looking to further grow the remittances into the country. President William Ruto while making the announcement, also stated that the decision was made as a result of numerous complaints that Kenyans in the diaspora, have not received the focus they deserve. President William Ruto during his inaugural address not long after taking the oath of office as the fifth (5th) President of the Republic of Kenya, made it known that “The focus has…
Saudi Arabia which is officially known as the Kingdom of Saudi Arabia (KSA) has now become the fastest growing source of remittances into Kenya. The news is an indication to the fact that more and more Kenyans are migrating to the country located on the Arabian Peninsula in Western Asia. The increased migration is occurring at a time when there have been a number of allegations of cruel treatment and abuse of foreign domestic workers residing in Saudi Arabia. Data based on the money sent through official channels, show that over the last two (2) years the remittances from Saudi…
The Kenya Bureau of Standard (KEBS) has ordered Menengai, Kapa Oil, Pwani Oil and Bidco Africa to recall a number of their cooking oil products as a result of their failure to comply with the standards put in place. The Kenya Bureau of Standard (KEBS) did not however reveal the level to which each of the affected products violated the standard KS EAS 769: KS 2019 Fortified Edible Oils and Fats-Specification. In a letter by the Kenya Bureau of Standard (KEBS) that was written to the Chief Executive Officer (CEO) of the Retail Traders Association; Wambui Mbarire, it stated that…
African fintech giant; Flutterwave, has moved attention back to the Central Bank of Kenya (CBK) after making it known that it had applied for a license with the banking sector regulator as far back as 2019, three (3) years before the present situation. The Central Bank of Kenya (CBK) had earlier on stated that Flutterwave was carrying out its operations in Kenya without having a permit. The revelation sparked up a fresh conversation about how difficult it is for fintechs to secure licenses. A directive from the Central Bank of Kenya (CBK) instructed micro finance institutions and banks to stop…
French premium television channel; Canal+ has now doubled its stake in South African company; MultiChoice which operates DStv, a major satellite television service in Sub-Saharan Africa and GOtv, a smaller service that operates in numerous countries, and popular streaming service; Showmax which offers an assorted variety of award-winning TV shows, movies, documentaries, Showmax Originals, kids shows, sport and more to its users. The move by Canal+ which is part of French Billionaire; Vincent Bolloré’s media conglomerate, is occurring at a time when both companies have entered into a collaboration for more african productions. Canal+ which is also a broadcaster that is…
The cash value of Fish imported from China into Kenya, increased by twenty five (25) percent to reach an all time high of 2 billion Kenyan Shillings. The occurrence took place at a time when there have been growing concerns from traders operating locally in Kenya who continue to have reduced market share. Data from the State Department of Fisheries revealed that in 2021, Kenya imported a total of 14.8 million Kilogrammes of Fish from China, valued at 2 billion Kenyan Shillings. This is significantly higher than the 1.5 billion Kenyan Shillings that was the case the year before. This…
Cryptocurrency lending company; Celsius is reportedly looking to sell its stablecoin stash. According to reports, Celsius has made an official request to a court for permission or authorization to sell its stablecoin holdings. It is expected that the revenue generated from the sale will create the liquidity needed to properly finance the daily operations of the cryptocurrency lender. The funds will however, not be used to repay any of the company’s creditors. In a recent arc to its bankruptcy happenings, the cryptocurrency requested that the United States (US) Bankruptcy Court for the Southern District of New York, grant it permission…
The Founder of American retailer of outdoor clothing Patagonia; Yvon Chouinard along with his spouse and two children, will be giving the ownership in the company away and dedicating all the profits from it to organizations and projects that are geared towards protecting biodiversity, wild land and combat the climate crisis. Patagonia which was founded fifty (50) years ago is now reportedly worth an impressive 3 billion United States Dollars (USD) which is around 361.5 billion Kenyan Shillings. The Founder; Yvon Chouinard in a letter regarding the decision which was released via Patagonia’s official website on Wednesday the 14th of…
Eleven (11) years after its launch in Brazil, payments startup; EBANX has now evolved into a billion dollar company with an estimated total of one (1) billion completed transactions across fifteen (15) countries. It made a name for itself by facilitating payment transactions between mobility as a service provider; Uber, digital music service; Spotify and their respective users residing in Latin America. The company is now looking to get into the African continent beginning with launches in Kenya, South Africa, and Nigeria. In October of 2021, EBANX filed the documents for an Initial Public Offering (IPO) in the United States…
The hash rate of popular decentralized digital currency; Bitcoin, has now hit a new all time high of 281.79 million. With the news the next Bitcoin (BTC) halving is now being projected to happen or occur as soon as the fourth (4th) quarter of next year; 2023. While the occurrence has now led to the date for Bitcoin (BTC)’s next halving being projected to begi earlier than previously expected, it is also an indication of the fact that more and more people worldwide are beginning to join the Bitcoin train. It also alludes to the increasing health of the network.…
Popular microblogging and social networking service; Twitter is now testing an editing feature that will make it possible for its users to change or edit the content of their tweets up to thirty (30) minutes after they have been posted. Users will however, still be able to view the previous versions. The social media giant made it known that tweets will be possible to be editing “a few times” in the half hour. Any edited tweet, will be accompanied by a label, time stamp and icon. This will ensure that users are aware when posts have been edited or modified.…
