Author: Khusoko

The Kenya Reinsurance Corporation (Kenya Re) has appointed Dr Hillary Maina Wachinga as its managing director, replacing Jadiah Mwarania, who retired in 2022. However, his appointment is subject to regulatory approval. “Dr. Wachinga is a multi-skilled strategic thinker with over 17 years of proven work experience in risk management, compliance, and auditing—16 of which have been at the management level,” said Kenya Re on Wednesday. Before his appointment, Dr Wachinga had been overseeing the Corporation’s risk and compliance operations. Dr Wachinga holds a doctorate and master’s in Business Administration and Computer Science from the University of Nairobi. He is a…

Choosing an insurance service provider is an important decision that can significantly impact your financial well-being.  Insurance is an essential part of managing risks, and it is crucial to select a reliable and trustworthy provider that offers products and services that meet your needs.  This article will use Xplico Insurance Kenya as an example to discuss what you should look for before choosing an insurance service provider. Reputation: When selecting an insurance provider, it is essential to check their reputation.  Xplico Insurance Kenya has an excellent reputation for providing quality insurance products and services in the Kenyan market. The company has…

Diageo has promoted its Chief Operating Officer, Debra Crew, as its first female Chief Executive.  Ms. Crew will take charge on July 1, 2023, the company said in a statement. It added that her appointment means women will make up more than 50% of Diageo’s executive committee. https://twitter.com/Diageo_News/status/1640627634479529986?s=20 She will take over from Ivan Menezes, who will retire after ten years. “Ivan has transformed Diageo’s global footprint, brand portfolio and strategic focus, positioning our business as a clear leader in premium drinks,” Diageo chairman Javier Ferrán said. “The Board has diligently planned for Ivan’s successor, and we are delighted to…

The Central Bank of Kenya announced the issuance of the Foreign Exchange Code (the FX Code) on March 22, 2023, to commercial banks, in a move to regulate wholesale transactions of the foreign exchange market in the country. The measure is in response to the wide variation of exchange rate spread in the market, as discussed in our currency review note, and comes as a control measure following the dollar shortage witnessed in February and March.  Kenya’s forex reserves have been declining, coming in at USD 6.6 bn as at March 23 2023, equivalent to only 3.7 months of import cover and below the…

Are you looking for the right online casino in South Africa but need help knowing where to start? Worry no more! Here are some helpful tips for choosing the perfect online casino for gaming. Look for a licensed and regulated casino The first and most important factor to consider when choosing an online casino is its license and regulation.  A licensed casino is authorized by the relevant authorities and is held accountable for providing fair and safe gaming to its players. You will find the license at the footer of any licensed platform. A regulated casino is closely monitored and audited by…

Fintech has played a significant role in democratising access to financial services across Africa in the past decade.  Improved access includes the usability and quality of these services, with most fintech solutions targeting the underserved population, including the youth, women, low-income earners, rural communities, and SMMEs. These groups have faced many barriers to accessing banking, credit, savings and investment solutions from large banks and other financial institutions. By solving some of Africa’s biggest challenges, we are creating impact and new business models, markets and sectors that will deliver positive commercial outcomes.  According to the IFC, in 2011, only 23% of Africans…