Author: Khusoko

Kenya’s financial system remains sound albeit potential negative effects of Covid-19 pandemic on assets quality and overall performance metrics, the Central Bank said in a new report. The Kenya Financial Stability Report, Issue No 11, published by Central Bank of Kenya, Capital Markets Authority, Insurance Regulatory Authority, and Sacco Societies Regulatory Authority, will, however, depend on the pandemic’s intensity and duration. “Overall, the banking industry has sufficient capital buffers to withstand the COVID-19 pandemic shock, supported by the mitigation measures put in place by the Government and financial institutions,” the report reads. The Kenya Banking Sector Charter of 2019 entrenches…

Stanbic Bank Kenya on Friday said it has opened two new branches, taking the total number across the country to 32. The lender said the expansion in Malindi and Changamwe is part of its financial inclusion strategy that caters to the needs of the Small and Medium-sized Enterprises (SMEs) and the unbanked in the region. Stanbic Bank Head of Personal and Business banking Maurice Matumo said, “The new space will see clients whose business are mostly cash-based, access banking services 24/7 with the two cash deposit machines in place as well as an ATM.” Other available products include Mjeki designed…

A recent study by Kaspersky indicates that Kenya is now Africa’s easiest target for cybercriminals. According to the report, the East African country accounted for more than 1 out of every 2 million online attacks on the continent. Irdeto, the world leader in digital platform security, estimated that content piracy cost the government and the creative industry an estimated 50 billion US dollars globally. This illegal practice takes many forms across Africa and globally from pirate platforms, illegal screening, and streaming, pirated DVDs and storage devices, cable and signal piracy among others.  The fight against copyright infringement in Kenya has received…

At the recent AfricaCom event from November 9-12, part of the virtual Africa Tech Festival, Huawei held an online IP Gala conference with its industry partners to introduce the Key Architecture Index (KAI) and share its applications. The theme of the conference was “Leading intelligent IP networks, accelerating intelligent connectivity”. In the carrier environment, the IP network enables fixed-mobile convergence, network evolution and the shift towards multi-services and the cloud era. At the moment, a challenge facing most IP (internet protocol) networks is unnecessary complexity, due to a lack of IP architecture standardization. Most networks were built without adequate foresight,…

The Kenya Union of Journalists (KUJ) in collaboration with The United Nations Educational, Scientific, and Cultural Organization (UNESCO) and European Union is targeting at least 200 journalists for a training program to boost their skills while covering disruption caused by the Covid-19 pandemic. The virtual training that started on December 3, is expected to help journalists understand the professional code of conduct to enhance their capacity to report Covid-19 to instill adherence to professional ethics. The training will be done in two phases to benefit journalists, especially those based in counties. The training comes as an intervention to boost the…

The Kenya Rugby Union (KRU) has entered into a five partnership with Mediamax Networks Limited as its Official Broadcast Partner. Mediamax will have exclusive rights to cover KRU’s flagship competitions, The Kenya Cup, Eric Shirley Shield, Rugby Super Series, National Sevens Circuit and the Safari Sevens. The media group will also have exclusive rights to fixtures involving the Kenya Simbas, Lionesses and Chipu where permission has been granted by Rugby Africa and World Rugby. KRU Chairman Oduor Gangla said, “The new partnership with Mediamax is a major breakthrough moment for rugby in Kenya.” Ken Ngaruiya, acting Chief Executive Officer of…