Absa Bank Kenya PLC will significantly expand its reach across the country by establishing over 17,000 agency service outlets within the next two years. The first phase of this rollout will see the Bank rapidly increase its agency network from the current 600 to over 3,000, focusing on broadening its presence and enhancing service delivery to underserved communities. This expansion aims to improve accessibility to essential financial services for individuals and businesses in their local areas. Both existing and non-customers will benefit from the convenience of conducting cash deposits, withdrawals, and other transactions through third-party outlets. This strategic move aligns…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Ride-hailing platform Uber has increased prices across all its models in Kenya, effective immediately. This follows a month of protests by digital taxi drivers in July over existing pricing models. Besides demanding a minimum payment of Sh300 for trips under 3 kilometres, drivers also want passenger profiles to enhance safety and prevent crime. The company has announced a 10% increase in the minimum fare, from Sh200 to Sh220. This adjustment aims to address the high cost of living and ensure drivers can earn a sustainable income. “The minimum fare for example Uber Chapchap is Sh220, that’s what the drivers will…
Ben Roberts, Group Chief Technology and Innovation Officer at Liquid Telecom since 2017, is stepping down from his role. “Well, after 22 years, it is with immense excitement, and some sadness, that it is time to move on from this great company Liquid Intelligent Technologies,” Roberts wrote on his LinkedIn page. “I’m proud to have built and led great teams, and with the great work from those teams, built great products, and perhaps the greatest network in Africa.” Roberts has been instrumental in driving Liquid Telecom’s technology strategy and expansion across Africa. With over two decades of experience in technology…
Kenyan diaspora remittances reached a new high in July 2024, increasing by 11.5% compared to the previous month. The surge was driven by easing inflation in the United States, leading to increased disposable income for Kenyans living and working abroad. The US remains the primary source of remittances, accounting for 52% of the total. Other top sources include Canada, the United Kingdom, Germany, Saudi Arabia, the United Arab Emirates, and Australia. Year Month North America Europe Rest of World Total Remittances (USD ‘000) 2024 Jan 227,764.71 85,970.23 98,675.10 412,410.04 2024 Feb 216,261.02 68,506.15 101,166.51 385,933.68 2024 March 229,327.94 70,459.26 107,984.99…
MTN Rwandacell PLC (MTN Rwanda), a subsidiary of MTN Group, announced a 7.5% increase in total subscribers to 7.5 million during the first half of 2024. However, its financial performance was impacted by various factors, leading to a significant 307.1% decline in profit after tax to a loss of Rwf10.5 billion. A primary contributor to the profit decline was a 29% decrease in Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) to Rwf39 billion. This decline was attributed to increased depreciation on tower leases resulting from the expansion of the network with 87 new sites. Additionally, the depreciation of the…
Losing money in trading can be a harsh and demoralizing experience. However, it is a part of the journey that every trader, whether novice or experienced, will encounter at some point. What separates successful traders from those who give up is how they respond to these setbacks. Understanding the importance of trading psychology and having a clear action plan are crucial steps in bouncing back stronger and wiser. In this guide, we shall explore practical steps you can take after a loss, focusing on maintaining a positive mindset, learning from your mistakes, and setting yourself up for future success. Acknowledge…