Safaricom has unveiled a new data campaign that will see customers enjoy free data every day customised to their usage profiles. As part of the campaign, customers can redeem free daily internet offers tailored to their use by dialing *544# every day for the next 90 days. The campaign seeks to empower more customers to take their offline passions online as part of the country’s digital transformation agenda. According to data from the Communications Authority, the country has 25 million mobile broadband connections meaning about 60percent of mobile phone users barely use the internet. “Smartphones and the internet have become…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Sidian Bank, a mid-tier bank focusing on SMEs made a consolidated net profit of Ksh 114million as at 31 March 2021 compared to a net loss of KSh7million same period in 2020. The improved profitability was attributed to increased lending in the period which grew interest income on loans as well as lending fees. Transactional and channels business also increased in the period enhancing the profitability. Further, loan impairment provisions booked in the quarter were lower by 58 per cent attributed to the improved loan book quality and loan collections. The impact of the increased incomes was however countered by…
Fintech startup KOA Save Africa Limited and venture capital firm Moneto Ventures Limited have been admitted to Kenya’s Capital Markets Authority (CMA) Regulatory Sandbox. The two firms will test their innovations in a live capital market environment in compliance with the CMA Regulatory Sandbox Policy Guidance Notes (PGN). KOA Save Africa will test its test KOA App. The innovation seeks to help retail investors quickly, conveniently, and affordably save and invest in the capital markets. KOA App is accessible to iOS and Android mobile users. The fully digital mobile application was to embed several collective investment schemes focusing on money…
There are multiple discussions around startups, business and governance but strangely enough, Africa isn’t an active participant when it comes to giving direct input on consumer technologies. Africa’s consumer technology and electronics space have always been the other market for the majority of brands. But there are a few, leading at the front, building in and for the African consumer. It’s high time to put a spotlight on this multi-billion dollar industry that’s evolving at a fast rate in Africa. Gadgets Africa, Kenya’s fastest-growing consumer-technology media platform has partnered with East Africa’s largest media conglomerate, Nation Media Group, to launch…
Individual smallholder tea farmers affiliated with the Kenya Tea Development Agency Holdings will now own direct shareholding of the company alongside their respective 54 Tea Factory Companies, further cementing their ownership and proprietorship in the organization. The group through a statement said the move follows the resolutions of the KTDA Holdings shareholders, at a Special General Meeting (SGM) held in April this year, to amend the company’s Articles of Association. This will enable the allotment of the company’s shares to individual farmers under a new category of shareholders known as “Tea Farmers. “Each of the 54 Tea Factory Companies, through…
The MultiChoice Group and the MultiChoice Talent Factory (MTF) have joined in the Africa Day celebrations with the Colours of Africa film series. The series will feature 16 films that were shot and directed by the MTF Academy’s Class of 2020. Viewers will enjoy films from East, West and Southern Africa brought to life by the talent honed at the MTF Academy. “ We are proud to honour Africa Day by celebrating the work of the MTF Academies’ Class of 2020,” says Yolisa Phahle, MultiChoice Group CEO of General Entertainment & Connected Video. From the East African Academy: Egna (Ethiopia),…