Author: David Indeje

United Bank for Africa (UBA) has strengthened its presence in Kenya and Uganda, with 94% and 80% ownership as of the end of the fiscal year 2023, respectively. According to the lender’s latest annual report (2023), “During the year, the bank made additional investments in four (four) subsidiaries (UBA Mali, UBA Chad, UBA Guinea, UBA Uganda, and UBA Kenya) totalling N38.297 billion. These additional investments have been reflected in the subsidiaries’ capital as of December 31, 2023, after getting approvals from the host regulatory authorities.” UBA spent a total of NGN 18.49 billion ( $16.04 million) to increase its ownership stake…

A new study by Kenya’s Competition Authority of Kenya (CAK) reveals a surge in online grocery shopping.  The “Online Food and Groceries Delivery Platforms Market Study” report paints a promising picture, projecting that by 2027, over 10.5 million Kenyans will be grocery shopping online.  “Additionally, it was estimated that 9.3% of Kenyans are shopping for food and groceries online as of 2023; this is projected to rise to 16.7% by 2027, an equivalent of 10.5 million consumers,” CAK shows. Convenience and Efficiency Drive Growth The study attributes this rapid growth to the convenience and efficiency of online grocery shopping platforms. Factors like…

Human Mobile Devices (HMD) Global, known for its Nokia-branded phones, has unveiled its first line of smartphones under its brand: the HMD Pulse Pro, HMD Pulse+, and HMD Pulse in the Kenyan market. HMD emphasizes a commitment to understanding consumer needs and anticipating market trends.  The company positions repairability as a core innovation in this new smartphone chapter. Every phone in the Human Mobile Devices Pulse range boasts “Gen 1 repairability,” allowing users to replace damaged components without extensive technical expertise.  HMD’s launch aligns with the growing trend of repairable electronics. Their research suggests a significant shift in consumer behaviour…

CIC Insurance Group plc will invest around 40 million KES to enhance customer experience through digital technologies. The investment, aligned with its five-year strategic plan, will allow customers to purchase insurance and make payments online without filling out forms. CIC Group CEO Patrick Nyaga said digitisation aims to enhance the accessibility of its products and services while ensuring business sustainability. “We are optimistic that our digital propositions will make insurance services easier and faster for our customers,” said Nyaga during Tuesday’s launch of Easy Bima, a digital monthly motor insurance cover. “Introducing Easy Bima will open up possibilities while demonstrating…

Bolt, Africa’s leading on-demand mobility company, is revving Kenya’s urban mobility scene with electric motorbikes. This partnership with M-KOPA, ROAM, and Ampersand offers drivers lower costs and a greener ride. Caroline Wanjihia, Regional Director of ride-hailing, Africa, and International Markets at Bolt, said the company is committed to long-term sustainability.  Bolt Kenya aims to offer eco-friendly transportation options across the platform and achieve zero carbon emissions. “We are increasing access to low-emission transportation by introducing electric bikes. This aligns perfectly with the government’s goals for e-mobility in Kenya,” says Caroline. “Our collaboration with the government and partners like M-KOPA, ROAM,…

Kenya’s Alexander Munyao won the men’s race at the 2024 London Marathon, clocking a time of 2:04:01. The 27-year-old outdueled veteran runner Kenenisa Bekele in the final kilometres, who finished just 14 seconds behind. WHAT A PERFORMANCE! 🇰🇪 Alexander Munyao fights of Kenenisa Bekele and wins the 2024 TCS London Marathon.#LondonMarathon pic.twitter.com/CmRY8Gv1Dp — TCS London Marathon (@LondonMarathon) April 21, 2024 Peres Jepchirchir dominated the women’s race, setting a new women’s only world record of 1:16:16.  “I’m so happy for today’s victory. I was not expecting to run a world record. I knew it would be run, but I was not…