KCB Group has agreed to sell its National Bank of Kenya (NBK) subsidiary to Nigeria’s Access Group. This move strengthens Access Bank’s footprint in the East African market. The successful completion of the transaction is subject to approvals from regulators like the Central Bank of Kenya, the Central Bank of Nigeria, and the COMESA Competition Commission. KCB Group CEO Paul Russo views the sale as an opportunity to maximize shareholder value while strengthening its competitive position. KCB Group holds 1,432,130,033 ordinary shares comprising 97.17% of the total issued share capital of NBK. “The past four years have been defining NBK as…
Author: David Indeje
David Indeje
David Indeje is the Community Engagement Editor at Khusoko, East Africa’s leading digital business news platform. He shapes editorial content, drives audience engagement, and amplifies diverse voices. Beyond journalism, he consults on digital strategy across agriculture, governance, technology, and health, while examining AI’s role in the future of media. He also serves as Communications Officer at KICTANet, advancing digital inclusion and policy dialogue.
Leading smartphone manufacturer OPPO has established the OPPO AI Center, which is dedicated to advancing AI research and development. The Center will focus on user-centric AI applications and features to equip future OPPO devices with cutting-edge AI capabilities. OPPO also revealed plans to integrate generative AI features into the Reno11 series globally by Q2 2024. This includes the innovative OPPO AI Eraser function, alongside potentially more functionalities. “Following feature phones and smartphones, next-gen AI smartphones will represent the third major transformative stage in the mobile phone industry. In the era of AI smartphones, the mobile phone industry and user experience…
Equity Bank has been recognized as the most loved banking brand by women in Kenya for the third time in a row, according to a recent survey conducted by IPSOS and BSD Group. The survey, which included over 1,000 adult women from all eight former provinces in the country, aimed to provide insights for Kenyan businesses on improving their engagement with consumers and bridging gaps between organizations and brands. Overall, Equity climbed one place to third behind M-PESA and Safaricom. Equity’s cemented position as the most beloved banking brand among women underscores the lender’s efforts to champion financial inclusion in…
Kenya is grappling with how to best regulate the rapidly evolving tech landscape. While platforms like Meta (formerly Facebook) offer immense opportunities for entrepreneurs and creators, concerns about online safety and responsible AI use demand clear policy frameworks. Meta’s global policy head, Sir Nick Clegg, highlighted the potential of open-source AI tools and their ability to empower local innovators. Meta’s president of global affairs and a former British deputy prime minister, Clegg, advocates for a nuanced approach to policy—regulating its impact on issues such as online safety and user rights. “My view is that the Northstar you (Kenya) should keep…
Digital insurance platform mTek has secured $1.25 million (Sh167.8 million) in funding from Verod-Kepple Africa Ventures (VKAV) and Founders Factory Africa (FFA). This investment will bolster mTek’s expansion across the Kenyan and wider East African insurance market. mTek leverages technology to simplify insurance access and aims to be the African insurance ecosystem’s leading platform-as-a-service (PaaS). The funding will also support mTek’s insurtech innovation. mTek CEO Bente Krogmann emphasized the importance of the partnerships, stating their goal to build “Africa’s No. 1 platform as a service for the insurance ecosystem.” They plan to collaborate with underwriters, regulators, and other stakeholders to increase insurance accessibility and create value for all parties involved. “We are now looking forward to further strengthening our strategic…
The Emirates Group is taking a strong stance on gender equality, making significant strides in empowering women within its workforce and championing their leadership potential. Celebrating Women and Launching New Initiatives To mark International Women’s Day 2024, Emirates highlighted its unwavering commitment to women through various initiatives: Empowering Women Leaders: Employees participated in talks by Liz Wiseman, a renowned leadership author, gaining valuable insights to enhance their leadership skills. Gender Balance Council Established: A dedicated council was launched to represent women employees, foster knowledge sharing, and advance gender balance. This council will oversee mentorship programs, professional development workshops, and outreach events designed…