Author: Muindi

The financial sector has undergone significant transformations due to rapid technological advancements. Banking, in particular, has been revolutionized by technology. Gone are the days when people had to dress up and visit physical bank branches to conduct transactions. Nowadays, you can make deposits and withdrawals, pay for goods and bills, and even apply for loans from your device. Kenya’s financial sector’s rapid adoption of technology has also been accompanied by a rapidly evolving threat targeting customers and financial services providers. The biggest threat is digital fraud. sim swaps Some tools fraudsters use today to gain illegal access to customers’ bank…

The Competition Authority of Kenya has ordered Carrefour Kenya to stop deducting rebates from the invoices for Pwani Oil items. A supplier rebate is money given back to customers to incentivise qualifying purchases. Suppliers offer them to win business or secure further sales. On the other hand, buyer power is the ability of a buyer to obtain terms of supply more favourable than a supplier’s ordinary contractual terms. “The Competition Authority issues a cease and desist order against Majid Al Futtaim Hypermarkets Limited directing it to, with immediate effect, cease and desist from charging rebates on Pwani Oil Products Limited…

Safaricom Plc grew its fixed internet market share to 46.1 per cent for the second quarter of the year that ended December 31, 2022, statistics by the Communications Authority show. The number of data subscriptions in the telecom increased from 22,148 to 372,872, making it the leading data provider. Safaricom attributed the growth to investments in fixed internet connectivity across the country. Safaricom is followed by Wananchi Group (Kenya) Limited, with 251,340 subscribers (31.1 per cent ), and Poa Internet Kenya Ltd., with 120,168 subscribers (14.9 per cent), Liquid Telecommunications Kenya, 17,837 (2.2 per cent); Mawingu Networks Ltd., 14,951 (1.8 per…

Stanbic Holdings Plc has declared a dividend of KSh12.6 per ordinary share of KSh5 after posting a 25.6 per cent increase in its after-tax profit for the fiscal year to December 2022. The dividend payment amounting to KSh4.98 billion is a 40 per cent increase from the KSh3.56 billion the bank paid its shareholders in the previous financial year. “Subject to shareholders’ approval, the final dividend will be payable to the members of the company registered on the share register of the company on the closure date, May 19, 2023,” said Stanbic. During the period, customer deposits increased by 12…

For youth experiencing a mental health crisis, a mental hospital might be the right place to find help. However, this is not the case, as they opt for alternative interventions due to the high costs. According to a survey by the Brain and Mind Institute, an entity of the Aga Khan University, on self-harm to mark Self-Injury Awareness Day shows that 28 out of 33 people interviewed said no to medication use. Sixty-one per cent of the respondents who said no to medication were between the ages of 21 to 30 years. The roundtable session brought together persons with lived…

South African singer and TikTok star Tyla has joined the likes of Nigeria’s Yemi Alade and Kenya’s Xenia Mannaseh as the monthly ambassador of Spotify’s EQUAL Africa programme. EQUAL Africa is aimed at spotlighting and amplifying the voices of female African artists who are breaking down barriers and making waves in music. It also amplifies their music by exposing their catalogue to global listenership. “It is satisfying to be selected for the EQUAL programme, joining other incredible female creators on the continent,” Tyla said in a press statement. “This just goes to show that there is room for all of us…