Author: Korir Issa

vivo has unveiled its latest Y-series model the vivo Y21, a mid-range phone intending to drive the next wave of the smartphone revolution in Kenya. The smartphone has a 5000mAh battery and an 18W charge. The device showcases 4GB + 1GB 2nd Generation Extended RAM, a 64GB ROM along allowing up to 1TB of memory expansion (to be purchased separately). Vivo Y21 comes with a 13 MP main camera on the rear. The rear camera set-up is equipped with a 2MP macro camera lens that draws a focus as close as 4cm. Y21 is available in colour hues of Metallic…

Absa Bank Kenya Thursday reported a profit of Ksh5.57 billion for the half-year ended June 31, 2021, over KSh589 million for the corresponding period of last fiscal. The profit is an equivalent of 846 per cent (9 times) growth attributed to a drop in loan loss provisioning from KSh5.4 billion last year to KSh1.9 billion. The strong performance was largely driven by growth in interest income particularly in the small and medium enterprises segment as the Bank accelerated its efforts in supporting businesses to recover from the effects of the pandemic and reposition for growth.  Announcing the results, Absa Bank…

Across the globe, the rate of urbanization has grown tremendously with nearly 66 per cent of the world’s population predicted to be urban by 2050. Africa’s urban population has been growing at a very high rate – from about 27 per cent in 1950 to 40 per cent in 2015 and is projected to reach 60 per cent by 2050 according to UN-DESA, 2014. Most Africans have moved to urban centres to enhance their productivity and living standards and by 2019, 40.71 per cent of Sub-Saharan Africa’s total population lived in urban areas and cities. With the rapid urban growth…

Kenya has moved to increase the 10 million shillings minimum threshold required for foreign investors to obtain a trading certificate qualifying them for incentives such as tax rebates and investment deductions. According to Dr Fred Matiang’i, the Interior Cabinet Secretary, the ministry will be seeking approval from parliament regarding the amendment of the Kenya Investment Promotion Act including raising the minimum threshold. The law set a minimum of 100,000 US dollars (approximately 10 million Kenyan shillings) for the certificate, a figure the CS claims is too low given the size of the Kenyan economy. “For a country our size and…

The fintech industry in Africa is experiencing rapid growth, as startups enable services in what is a highly fragmented banking and financial ecosystem. Over the past few years, the sector has been one of the most funded among startups in the continent. The continent presents such a great opportunity for the fintech industry to grow, especially with millions of people remaining unbanked or lacking access to traditional financial services. Despite this growth and the making of huge technological advances, however, scaling the ecosystem is rare. A recent study by the Wheeler Institute for Business and Development which studied 716 fintech…

In new research by Mastercard, 81 per cent of the Middle East and Africa’s (MEA) women entrepreneurs have a digital presence for their businesses, compared to 68 per cent of their male counterparts. The study reveals that despite the gender gap and social challenges, entrepreneurial women across the world and in the region and across the globe are leading the way in tapping into the power of the digital economy to succeed and grow. According to Mastercard, women-owned small and medium enterprises (SMEs) believe there are huge benefits of a cash-free economy to their businesses. The digital footprint among the…