Equity Group Holdings Plc (EGH) has completed its acquisition of Compagnie Générale de Banque (Cogebanque) Plc (COGEBANQUE), as part of its regional expansion strategy. After meeting all regulatory and corporate approvals, the acquisition was finalized on November 30, 2023. EGH now owns 198,250 shares, representing 99.1250% of COGEBANQUE’s issued share capital, making COGEBANQUE its subsidiary. EGH had previously disclosed its intention to acquire 91.93% of COGEBANQUE’s issued shares from the Government of Rwanda, the Rwanda Social Security Board, Sanlam Vie Plc, and Ms. Judith Mugirasoni (the Sellers) on June 14, 2023. Rwanda’s Minister of Finance and Economic Planning, Dr. Uzziel…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Bolt, the on-demand mobility platform, suspended over 5000 drivers in Kenya in the last six months for non-compliance and safety-related issues. The company says this is part of its commitment to ensuring rider and driver safety on its platform. Linda Ndungu, Bolt Kenya Country Manager, said: “We value the trust our users place in us, and we are taking proactive steps to ensure their well-being during every ride.” “Our enhanced safety measures, stricter compliance measures, and technology-driven solutions reaffirm our commitment to providing a secure and reliable transportation experience for all.” Some of the safety initiatives that Bolt has implemented…
Sophos’ newly launched reports reveal how scammers could use AI to create fraudulent websites and how cybercriminals are divided on the use of LLMs like ChatGPT for their attacks. The first report—“The Dark Side of AI: Large-Scale Scam Campaigns Made Possible by Generative AI”—demonstrates how, in the future, scammers could leverage technology like ChatGPT to conduct fraud on a massive scale with minimal technical skills. However, a second report, titled “Cybercriminals Can’t Agree on GPTs,” found that, despite AI’s potential, rather than embracing large language models (LLMs) like ChatGPT, some cybercriminals are sceptical and even concerned about using AI for…
Sidian Bank has opened its 44th branch in Kakamega, a key economic hub in Kenya. The new branch is located in a strategic area to serve the financial needs of the residents and businesses in Kakamega and the surrounding areas. Sidian Bank Kakamega will offer a wide range of customized and technology-driven solutions, such as biashara loans, working capital financing, asset financing, insurance premium financing, business loans, trade financing solutions, bid bonds, guarantees, structured trade facilities, and more. The expansion to Kakamega is part of Sidian Bank’s commitment to providing accessible and customer-centric banking services to a wider audience. The…
The Kenya Revenue Authority (KRA) has dismissed a message circulating on social media that claims the authority is taxing till numbers. The message is fake and has no basis, the authority said on the X platform. “Till numbers are NOT subject to taxation, and KRA does not collect any such taxes,” the post said. The authority has also warned Kenyans to be wary of fraudsters who are posing as KRA and demanding taxes on till numbers and other Lipa na M-PESA services. Not true. Till numbers are NOT subject to taxation, and KRA does not collect any such taxes. Beware…
The High Court has temporarily suspended its earlier judgement that declared the Housing Levy unconstitutional, allowing the Kenyan government to appeal the decision. The court granted the stay until January 10, 2024, after the Kenya Revenue Authority, Attorney General, and Speaker of the National Assembly, Moses Wetang’ula, requested 45 days to file their appeal. Justice David Majanja said the court had the power to grant the stay even after finding the law unconstitutional. “The respondents are also entitled to exercise the right of appeal to the Court of Appeal and even the Supreme Court. We are inclined to grant the…