Djibouti’s Salaam African Bank has acquired 100 per cent shareholding of Uwezo Microfinance Bank Limited (Uwezo MFB) effective March 25, 2021. “This follows CBK’s approval on December 24, 2020 under Section 19(4) of the Microfinance Act and approval by the Cabinet Secretary for the National Treasury and Planning on January 12, 2021, pursuant to Section 19(3)(b) of the Microfinance Act,” the Central Bank of Kenya said in an emailed statement. Uwezo MFB was licensed by CBK on November 8, 2010 as a community microfinance bank carrying out business in Starehe Division of Nairobi County. The institution was granted approval to…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
OPPO Kenya is adding to its wearable smart device line in the country with the launch of the OPPO Band. Globally available in both the Basic Sport and Style versions, OPPO Kenya will initially sell the basic sports version in black colour, at KSh5,999 from e-commerce site Jumia and all OPPO brand stores. The OPPO Band will start selling on May 20, 2021, with an offer that will see the first 100 customers on Jumia purchasing it for Sh3,999. This offer will run till May 23, 2021, or till the first 100 Bands are sold. The all-new OPPO Band features…
To celebrate Africa Day (AU) on May 25, MultiChoice Group is launching M-Net Movies Afro-Cinema, a pop-up movie channel dedicated to showcasing and celebrating contemporary African films. The Afro-Cinema Channel will be available from May 21 to May 30, on Channel 198 to DStv customers on Access to Premium packages across the continent and on Channel 129 for GOtv Plus and Max customers. The Afro-Cinema Channel is curated to celebrate Africa’s cultural diversity, aptly reflected and captured in the work that filmmakers are producing all over the continent. Through collaboration and turning challenges into possibilities, local film industries across the continent have…
Bamburi Cement aims to continue growing earnings per share this year after it posted stronger results in 2020, with shareholders expected to receive KSh1.089 billion in dividends. In the fiscal year, the cement maker’s pre-tax profit surged to KSh1.776 billion, from KSh728 million in 2019, a 144% increase. This was in line with its Strategy 2022 agenda focusing on customers to drive topline growth, cost optimization, people, financial strength, and sustainability. Bamburi Cement will hold a virtual Annual General Meeting on 10th June 2021. During the AGM, shareholders will approve a first and final dividend on the company’s register at…
Kenya’s Parliament Wednesday approved the nomination for the appointment of Justice Martha Koome as Kenya’s next Chief Justice. This paves the way for her swearing-in to succeed Justice David Maraga, who retired in January. https://khusoko.com/2021/01/11/chief-justice-david-maraga-exit-speech/
Sports betting is growing in leaps and bounds across Africa, and Kenya has been a major driving force behind one of the fastest-growing industries on the continent. Kenya currently has the third biggest online gambling market in sub-Saharan Africa after South Africa and Nigeria. The country also holds the aces in terms of the highest number of youths spending money on gambling in the region. Millions of Kenyan youths have taken to online sports betting as a means of earning some complimentary income. The rapid growth of online gambling may not be unconnected to the popularity of football in Kenya.…