Author: Muindi

The 10th Edition of the East African Classic Safari Rally 2022 kicked off Thursday with American rally driver Ken Block finishing first on the podium. A professional rally driver with the Hoonigan Racing Division was being navigated by Alex Gelsomino in a Porsche 911 and clocked a time of 02:35:52.7. Austrian driver Kris came in second. He is being navigated by Nicola Bleicher on a Porsche 911. Kenya’s Baldev Chager navigated by Ravi Soni on another Porsche 911 finished in the third position in a time of 02:38:52.0. The total distance covered by the 46 drivers flagged off was 496km,…

Tala, a digital lending firm, has announced a new credit option that empowers its borrowers gives to choose a loan repayment date that best matches their income cycle or salary pay date.  Dubbed ‘Jichagulie Due Date’ borrowers can pay in full or make partial payments; anytime on or before their due date. However, customers who make timely payments earn more favourable terms over time, including doubling and tripling their loan limits within just a few months. “This new flexible credit option will give borrowers the power to choose the due date that works best for them, not Tala,” Ms Annstella…

The Central Bank of Kenya (CBK) on Tuesday confirmed the acquisition of 84.89 per cent shareholding of Century Microfinance Bank Limited (Century MFB) by Branch International Limited (Branch) effective January 1, 2022. This follows CBK’s approval on December 30, 2021, under Section 19 (4) of the Microfinance Act and approval by the Cabinet Secretary for the National Treasury and Planning on January 7, 2022, pursuant to Section 19(3)(b) of the Microfinance Act. “CBK welcomes this transaction that is a critical component of Century MFB’s transformation plan. It will strengthen Century MFB and support the stability of the microfinance banking sector,”…

The Kenya Ladies Open that tees off at Vipingo Ridge on Thursday received KSh 20 million and KSh 5 million sponsorship boost from Safaricom and KCB Group. The tournament, organised by U.COM Event, is part of the Ladies European Tour and will see participants rub shoulders for four days at the Baobab Course in Kilifi County – the only PGA accredited golf course in Africa. The first edition of the Magical Kenya Ladies Open took place in 2019. The tournament will be a 72-stroke play golf competition and over 100 players are set to take to the course over four…

African digital music platform Mdundo, recorded 20 million users at the end of Q4, up from 16.3 million in Q3. The upward growth represents a 22 per cent attributed to increased demand for an easy-to-use music service and expansion into new territories in Africa. “We have noted increased demand for music served online mainly among the youthful consumer segment, an audience that is actively looking for new products and solutions to support their lifestyle,” says Rachel Karanu, head of Brand Partnerships at Mdundo said. The most notable growth was recorded in Tanzania, Nigeria and Kenya powered by the rising popularity…

Little Cab, Kenya’s fastest-growing ride-hailing company, on Monday said it has expanded operations in Ethiopia.  Its initial plans had been delayed due to the Covid-19 pandemic. “LittleApp is happy to announce that we are now fully operational in Addis Ababa, Ethiopia. Thanks to our team in Ethiopia …,” LittleApp Chief Operating Officer Niladri Roy shared the news on LinkedIn. In Ethiopia, Kamal Budhabhatti the Chief Executive Officer of Little, in 2021 had disclosed that they would invest $5 million in the next five years. “When we saw Safaricom heading to Ethiopia, we got the courage to get there. It is…