Author: David Indeje

Kenyan Buy-Now, Pay-Later (BNPL) company, Watu, has its sights set on the future with a bold commitment to electric mobility.  Responding to the Parliament’s Departmental Committee on Finance and National Planning, Watu outlined its plans to actively promote sustainable transportation. The Parliamentary Committee was tasked with investigating BNPL services in Kenya. Their investigation focused on consumer protection, regulation, financial risks and regulatory gaps. Registered in 2015,  Watu Africa, known for financing motorbikes and smartphones for underserved communities, aims to become a key player in Kenya’s electric motorbike revolution.  “In a span of over nine years, our resilience in delivering our…

Unintended pregnancies are a significant health concern in Kenya, contributing to preventable maternal deaths. To address this challenge and empower women, Kenya received a shipment of 450,000 doses of Subcutaneous Depot Medroxyprogesterone Acetate (DMPA-SC).  DMPA-SC are user-friendly injectable contraceptives that offer an advantage to women who can administer them themselves, expanding access beyond traditional healthcare settings.  This initiative, funded by the UK government, aims to benefit over 400,000 women of reproductive age in Kenya.  Experts estimate it could prevent a staggering 42,750 unintended pregnancies and save the lives of 122 mothers.  “The integration of DMPA-SC self-injection into Kenya’s reproductive health landscape is…

The Communications Authority of Kenya (CA) unveiled a five-year strategic plan (2023-2027) to ensure all Kenyans access to affordable, reliable and quality communication services. This plan marks a significant shift. Unlike previous iterations, it prioritizes the needs of the people, putting “Digital Access for All” at its core. Four Pillars for a Digital Future The plan rests on four pillars that will shape Kenya’s digital landscape: Connectivity: Expanding meaningful access to ICT services for all Kenyans. Empowerment: Protecting and empowering consumers in the digital world. Innovation: Fostering a competitive market that embraces emerging technologies. Efficiency: Strengthening the CA’s effectiveness in regulating the sector. Ambitious Goals and Increased Focus on Inclusion…

Stanbic Bank Kenya reported a Profit After Tax (PAT) of KES 4 billion for the first quarter of 2024, reflecting a 2.8% increase from the same period in 2023.  While overall profitability remained steady, the bank’s net interest income (NII) rose significantly by 19.6%, driven by higher interest earned from loans and advances, as well as deposits with banking institutions.  However, it witnessed a 34% decline in Non-funded income (NFI) primarily due to a sharp drop in Foreign Exchange (FX) trading income and a slight dip in loan-related fees and commissions.  ”In the first quarter of 2024, we continued to enhance our…

East Africa is currently grappling with widespread internet outages following disruptions to critical undersea cables. The issues began on Sunday and have significantly impacted internet connectivity in Kenya, Tanzania, Rwanda, and Uganda. Its me again. Internet to East Africa is severely impaired. All sub sea capacity between East Africa and South Africa is down. EASSy Cable – Fault confirmed Seacom Cable – Observing Fault that occurred at same time. 3 cable cuts in Red Sea (Seacom, EIG, AAE1) remain unrepaired. — Ben Roberts 🇬🇧🇰🇪 (@benliquidkenya) May 12, 2024 The root cause of the problem lies in damage sustained by two…

Equity Group Holdings reported solid financial results for the first quarter of 2024, with a record profit after tax of KES 16 billion.  This was driven by increased net interest income and cost control measures. “We have been able to turn the tide from declining profit before tax 13% in December we are now at 21% and profit after from a decline of 5% we are up to 25% being able to give a reasonable return on assets,” Dr James Mwangi, Equity Group Managing Director and CEO said. “KES 16 billion for a quarter profit after tax is the highest…