BUSINESS

News on Business trends in Kenya and Africa

2 days ago

Mastercard, Unilever and KCB Bank to provide a $150k recovery package to Kenyan MSMEs

To extend support towards COVID-19 economic recovery, Mastercard, Unilever and KCB Bank have pooled resources to provide Micro, small and…

5 days ago

Google Completes Fitbit Acquisition

Google has officially completed the acquisition of Fitbit, a wearables company, for an eye-popping $2.1 billion. Announcing the news, Rick…

5 days ago

Xiaomi Blacklisted in the US

The United States government has blacklisted Chinese smartphone maker Xiaomi for alleged ties with the Chinese military. Comac, a Chinese…

1 week ago

Economic uncertainty set to shape 2021 cybercrime agenda in Africa

Last year, the number of cybersecurity attacks increased globally, a time when lots were forced to stay at home if…

2 weeks ago

Demand for TECNO, Itel and Infinix Phones in Africa Soars

2020 was not a great year for most smartphone companies as the pandemic hit various points of their supply chains,…

2 weeks ago

NTSA selects dozens of companies to build cashless fare payment system for PSVs

The National Safety and Transport Authority (NTSA) has selected dozens of local firms to build a cashless fare payment service…

2 weeks ago

Kenyans Register for Nearly Three Million SIM Cards in 3 Months

Kenya’s population stood at 47.6 million according to the 2019 Census report, but the number of mobile subscriptions in the…

2 weeks ago

Safaricom M-PESA Charges Effective January 2021

The year began with the return of transaction charges for money transfer between Ksh 101 up to Ksh 1000. The…

3 weeks ago

These Industries grew in 2020 despite Covid-19 slowdown

There are a few events in history that have changed the course of humanity and this ongoing Covid-19 pandemic may…

4 weeks ago

DPO Group introduces Real-Time Settlements on digital payments for sole trader merchants in Kenya

African payment service provider DPO Group has launched Real-Time Settlements for its SME sole proprietor merchants in Kenya. 86% of SMEs…

December 15, 2020

Six Emerging FinTech Trends in Africa

Africa is quickly becoming the centre of new fintech innovations and adoptions. Many financial technology start-ups are coming up across…

December 14, 2020

Pay for Showmax Pro using Visa or MasterCard and Get 25% Off

Festivities are around the corner, and the MultiChoice-owned streaming platform Showmax has already lined up it’s Christmas Countdown Entertainment Collection.…

December 11, 2020

CMA approves Kshs4 billion Centum Medium-Term Note

The Capital Markets Authority (CMA) has granted approval to Centum Real Estate Limited (Centum Re) to issue secured zero-coupon and…

December 10, 2020

Showmax Lines up its Christmas Countdown Entertainment Collection

Christmas is here with us, what a year 2020 has been, and Showmax wants to end the year on style…

December 9, 2020

Apple supplier Foxconn Hit by Ransomware Attack

Foxconn Technology Group, the company that assembles iPhones for Apple, was hit by a cyber attack in November that affected…

December 7, 2020

LG to Outsource Low-end Models to Save Loss Making Smartphone Business

LG is rethinking its smartphone business strategy in an attempt to cut costs. The company’s smartphone arm has continuously been…

December 7, 2020

Safaricom Seeks Regulatory Approval on new Financial Products

Kenya’s largest telco Safaricom has applied for regulatory approval on three new financial products that will expand its product offerings.…

December 4, 2020

Wearable Device Market Grows Massively from July to September

Wearables are slowly but steadily becoming part of our daily lives, including fitness bands, smartwatches, and the broad hearable category.…

December 2, 2020

Equity receives double recognition at the African Bankers Awards 2020

Equity has scooped two awards at this year’s African Banker Awards. The Bank has been awarded the Best Regional Bank…

December 1, 2020

Apple fined €10m for Misleading Users about the iPhone’s Water Resistance

The iPhone’s water resistance feature has got the company in hot soup in Italy. The country’s competition watchdog has fined…

December 1, 2020

Nokia and Airtel Kenya lay 5G foundations in Kenya

Airtel Kenya has inked a deal with Finish telco equipment maker, Nokia, to modernize Nairobi with high speed 4G and…

November 30, 2020

Netflix Partners with Realness Institute to Launch a Content Development Lab for African Writers

Streaming giant Netflix and Realness Institute, a company focused on supporting African content, have announced a partnership deal to create…

November 26, 2020

Safaricom Contemplates Reducing M-PESA Transaction Costs

Safaricom has hinted at plans to cut M-PESA transaction costs to retain increased cash transfers on the mobile money platform.…

November 26, 2020

Safaricom Flexible 4G Smartphone Financing Plan Attracts 50,000 Users

Over 50,000 Safaricom customers have jumped ship on the telco’s flexible 4G smartphone financing plan dubbed Lipa Mdogo Mdogo. According…

November 25, 2020

Samuel Onyango Joins Equity as a Non-Executive Director

Equity has appointed of Samuel Onyango as a Non-Executive Director to its Equity Bank (Kenya) Limited (EBKL) Board. Samuel has…

November 25, 2020

Ngao Credit offering 3% discounted interest rate for its loan products during this Black Friday

Ngao Credit Black Friday: This year’s Black Friday is here with us. This is the biggest retail sales day for…

November 25, 2020

M-PESA has become the first African FinTech platform to join United for Wildlife Financial Taskforce

M-PESA has become the first mobile money provider in Africa to join the Financial Taskforce established by United for Wildlife.…

November 24, 2020

Kenya Ranked Among the Top 3 African Countries Affected by Mobile Fraud

Kenya has been ranked among the top three African countries hit by mobile fraud. According to Evina, a Paris-based cybersecurity…

November 23, 2020

StarTimes to elevate bouquets in subscriber retention strategy

Pay Television Company StarTimes Media has unveiled a strategic subscriber retention policy for its subscribers. The new policy will enable…

November 23, 2020

Jiji Online Market Place Kenya new security measures to protect its users in a bid to dominate Kenya’s e-commerce space

If you were a frequent user of OLX Kenya a few years ago, you probably already know that the e-commerce…

November 18, 2020

Equity Bank’s Borrowed SME Funds jump to Ksh68.5 billion in Q3

Equity Bank’s borrowed funds for SME s jumped 19.7 per cent to Sh68.5 billion over the three months to September…

November 18, 2020

This could be the right time to import a car

Owning a car has always been everyone’s dream especially if you have a family and with the year almost coming…

November 17, 2020

Huawei Confirms Selling its Honor Smartphone Business

After multiple reports of Huawei planning to sell its Honor smartphone business unit, the company has finally confirmed that it wasn’t…

November 17, 2020

WorldRemit announces Africa-focused Entrepreneurship Program in Kenya

WorldRemit, a global digital payments company, has launched an Africa-focused entrepreneurship programme in Kenya. The WorldRemit Entrepreneurs Programme will also be…

November 16, 2020

Qualcomm Granted Permission to Supply Huawei with 4G Smartphone Chips

Huawei’s smartphone business is anticipated to receive a life of breath after a recent license granted to Qualcomm by the…

November 13, 2020

Tablets and Chromebooks Drive Growth in the Global PC Market

The overall PC market, including sales of desktops, tablets, and Chromebooks, has seen immense growth due to shelter in place…

November 13, 2020

KenTrade introduces support services to ease trade documentation processes for traders

The Kenya Trade Network Agency (KenTrade), has introduced optional premium and support services to ease trade processes for traders in…

November 12, 2020

Swvl Launches Long Distance Travel Service in Kenya

Swvl Kenya has introduced a new service suited for long distance travelers. Through the app, users will now book for…

November 10, 2020

Huawei will sell its Honor Smartphone Business for $15 billion, report

Huawei’s troubles with the US government are still jeopardizing its smartphone and telco business. The company shut down its chipmaking…

November 9, 2020

Prime Bank and SimbaPay partner for instant international money transfer

Kenya’s private bank Prime Bank has partnered with London-based fintech SimbaPay, to launch an instant international money transfer service via…

November 9, 2020

Safaricom Half-year Profit Falls 6 Percent to Ksh 33 Billion as M-PESA Revenue Declines

Kenya’s largest telco, Safaricom, just announced its half-year financial report for the period ended 30th September 2020. The company’s half-year…

November 9, 2020

WhatsApp Has Rolled Out its Payments Feature in India

Facebook started testing its WhatsApp payments service in India in 2018 and had failed to launch it on time over…

November 9, 2020

Mastercard Announces Cyber Secure, an AI-Powered Solution To Protect The Digital Ecosystem

Mastercard has launched a new AI-powered suite of tools to help banks assess cyber risk across their ecosystem and prevent…

November 6, 2020

Safaricom Customers to Get Free Data and Minutes by Enrolling to newly launched Skiza Mobile Advertising Platform

Kenya’s largest telco Safaricom has today announced a new platform to help SMEs advertise their services. The new Skiza Mobile…

November 6, 2020

Safaricom Introduces new Phone Number Prefixes to meet Increasing Demand

Safaricom, now with over 35 million customers, owns over 10 different phone number prefixes. Currently, it has 070X, 071X, 072X,…

November 4, 2020

MTN Offloads its 18.9% Stake in Jumia, Raising $142 million

South Africa’s MTN has finally offloaded its 18.9% stake in Jumia, one of Africa’s largest e-commerce companies and the first-ever…

November 4, 2020

Lenovo Posts Record-Breaking Earnings Thanks to Strong PC Sales

Lenovo Group, the company behind Lenovo laptops, reported its quarterly earnings yesterday delivering record results. The company had a record…

November 2, 2020

Gadgets‌ ‌Leo, your‌ ‌one-stop‌ ‌eCommerce‌ ‌shop‌ ‌for‌ ‌smartphones‌ ‌ ‌

Kenya has one of the most vibrant e-commerce ecosystems in Africa which has been described as the next frontier in…

November 2, 2020

Apple Reports Rise in Revenue Despite iPhone Sales Slump

Apple has revealed its business performance for the fourth fiscal quarter ended September 26, 2020. The iPhone maker made a…

November 2, 2020

Huawei Plans to Make its own Chips to Skirt US Sanctions

Huawei has been waiting on the U.S to lessen its trade restrictions, but it seems the company has finally given…

October 30, 2020

Mobile Gambling Money Transfers to be Permitted in Kenya

It has been confirmed that officials in Kenya have made amendments to the Gaming Bill 2019 to enable money transfers…

October 29, 2020

Samsung Posts Highest Quarterly Revenue Due to Boost in Flagship Smartphone Sales

Samsung Electronics has announced its Q3 performance results posting its highest quarterly revenue yet. The South Korean conglomerate had a…

October 29, 2020

Diamond Trust Bank and Jumia partner for Black Friday Campaign

Diamond Trust Bank and Jumia have announced a partnership aimed at enhancing cashless payment on the e-commerce platform when purchasing…

October 28, 2020

Bolt Adds New Security Features on its App For Safer Rides

On-demand transportation platform Bolt has announced some new security updates on its app. The company has made some upgrades on…

October 28, 2020

Safaricom Launches Pochi La Biashara, a new M-PESA Product for Small Business Owners

Safaricom celebrated its 20th birthday yesterday with the company launching a new campaign. The company also launched a new product…

October 27, 2020

Telkom Revamps Pawa Voice Bundles with Data and SMS

Telkom Kenya has revamped its Pawa voice bundles. The telco has sweetened the deal by including SMS and data packs.…

October 27, 2020

Safaricom Celebrates 20th Birthday, Launches New Campaign

Kenya’s largest telco, Safaricom, is today celebrating its 20th birthday after officially being launched in the country on 23rd October…

October 26, 2020

Huawei’s Revenue on The Rise Despite Business Uncertainty

Chinese tech company Huawei has announced its financial performance in the first three quarters of 2020. According to the company,…

October 23, 2020

Streaming Service Quibi Shuts Down Six Months After Launch

The streaming market is booming as people continuously adopt online entertainment. Netflix has already recorded its best quarter yet this…

October 22, 2020

PayPal to allow Users to Buy, Hold, and Sell Cryptocurrencies on the Platform

PayPal is finally joining the crypto market. On Wednesday, the company announced a new service that will allow users to…

October 21, 2020

Tips to be more responsive to your customers

If you are a service provider, customer responsiveness should be among your top priorities. This is basically the quality and…

October 21, 2020

Fifth Africa Fintech Summit to be held Virtually Starting November 9th

Africa Fintech Summit (AFTS), the global initiative dedicated to the African fintech ecosystem, is hosted in Washington DC each April…

October 19, 2020

Samsung Smartphone Sales Rebound Reclaiming Top Spot – Report

Samsung has surpassed Huawei to become the top smartphone seller between July and August. The latest data from Counterpoint’s Monthly…

October 19, 2020

Buy These Telkom Bundles and Get Showmax Pro Mobile Free for One Month

Telkom has announced a partnership with Showmax Pro Mobile, offering new data bundles coupled with a free one-month subscription for…

October 16, 2020

Uber Starts Over-the-Counter Medicine Deliveries in South Africa

Uber owns the lion’s share in South Africa’s $600 million food delivery market, but the company has widened its services…

October 16, 2020

Safaricom Processes an average of six Loans Per Second on Fuliza

Safaricom ’s overdraft facility, Fuliza, was launched in 2019 but now processes an average of six transactions per second. In…

October 16, 2020

Bolt launches initiative to celebrates heroes helping fight Coronavirus

On-demand transportation platform Bolt is celebrating extraordinary heroes who have been on the frontlines day in and day out in…

October 15, 2020

Nairobi is the leading African city for online food delivery, report

Nairobi is the leading city across Africa for online food delivery, followed by Casablanca (Morocco), Lagos (Nigeria) Kampala (Uganda) and…

October 14, 2020

Huawei Considers to Sell Part of its Honor Smartphone Business – Report

Huawei is reportedly in talks to sell part of its Honor smartphone business amid the US ban. According to the…

October 13, 2020

CBK Blocks over 300 Mobile Lenders from Listing Defaulters at CRBs

The Central Bank of Kenya (CBK) has barred over 337 unregulated digital and credit-only lenders from listing loan defaulters at…

October 12, 2020

Over 55Pc of Kenyans with Fixed Internet Pay for Speeds Between 2-10Mbps

The number of mobile data subscribers has just surpassed the 40 million mark while the fixed broadband market has also…

October 12, 2020

Safaricom Reclaims Top Spot in the Fixed Broadband Market

Back in Q1, Zuku surpassed Safaricom to top the country’s fixed data subscription market. But the reign didn’t last. As…

October 9, 2020

Here’s How Much Kenyan Telcos Made from Mobile Services in 2019

The latest data from the ICT watchdog, the Communications Authority of Kenya(CA), shows how much revenue the telco sector made…

October 9, 2020

Kenyans Sent Nearly 450 Billion to Businesses in Three Months

Kenyans sent a lot more money to businesses in the April-June quarter, owing to the government directive urging them to…

October 9, 2020

Mobile Subscriptions in Kenya Rise to 57 Million

The Communication Authority of Kenya, CA, has released the latest Sector Statistics report giving an overview of the general performance…

October 9, 2020

Airtel Inks Deal with Ericsson to modernize its 4G network in Kenya

Airtel Africa is extending its strategic partnership with Ericsson to enhance its 4G network coverage in Kenya. As a result,…

October 8, 2020

Jumia Partners with Mondia to launch a new gaming service for customers in Africa

Africa’s eCommerce giant, Jumia, has partnered with Mondia (https://Mondia.com), a technology company specializing in marketing and distributing digital content to…

October 7, 2020

Showmax Adds Five Local TV Channels on its Platform

Showmax, Multichoice’s streaming service, has bolstered its product offerings since the year started. With the introduction of Showmax Pro, Kenyans…

October 7, 2020

MTN, Airtel and Stanbic Bank Uganda Lose Billions of Shillings to a Third-party Service Provider Hack

Hackers have broken into Uganda’s Pegasus Technologies, making away with cash in the billions. Pegasus Technologies touts itself as a…

October 7, 2020

Fraud in the banking industry: What are banks doing about it?

Chances are you have at least received a call once or twice from people claiming to be representatives from your…

October 6, 2020

Airtel Customers Will Soon Acquire Samsung Smartphones Under Flexible Financing Plans

Airtel Africa has partnered with South Korean device maker, Samsung, and Mastercard to provide customers will smartphones on flexible payment…

October 5, 2020

Equity Announces a $100 Partnership With Proparco to Support 240 Local MSMEs

Equity Group has announced a $100 partnership with Proparco, a French Development Finance Institution to support Micro, Small, and Medium…

October 3, 2020

Ngao Credit opens new branch in Thika town

Financial services provider Ngao Credit has opened a new branch in Thika town. The new branch will serve the entire…

October 2, 2020

Google to pay news publishers for their content

Google has made its first serious attempt in compensating publishers for their hard work. In a recent blog post, Google…

October 2, 2020

Mabati Rolling Mills launches SAFBUILD Manufacturing Plant in Athi River

Mabati Rolling Mills Limited (MRM), a Member of the Safal Group has launched the SAFBUILD Manufacturing Plant at its Athi…

October 1, 2020

Banks to start blacklisting loan defaulters at CRBs after CBK’s Nod

Since Kenya reported the first case of Covid-19 in March, several measures were hastily put in place to cushion citizens…

October 1, 2020

Safaricom and NCBA Differ on Lowering M-Shwari Interest Rates

Amid pressure to cub predatory mobile lending platforms from the regulator, Safaricom and its partner NCBA have differed on cutting…

October 1, 2020

Jumia Food Festival campaign to support local restaurants

Jumia has announced the launch of a Food Festival Campaign to raise awareness of the difficulties the restaurant industry has…

October 1, 2020

PayPal Deposits and Withdrawals Services via M-PESA to be Briefly Unavailable on Monday

Safaricom’s M-PESA and PayPal ‘s team are planning service maintenance on the 5th of October, next Monday. The service maintenance…

October 1, 2020

Jumia partners with Airtel Kenya for mobile payments

Jumia has announced a new partnership with Airtel Kenya that will see consumers complete their online payment transactions using Airtel Money.…

October 1, 2020

StarTimes GO extends up to 50% discount on products

Integrated e-shopping platform StarTimes GO, is set to roll out Crazy Friday, a day’s campaign that will see Kenyans access…

September 29, 2020

Huawei, Kenya Bankers Association Partner to Drive Financial Inclusion

Huawei Kenya and the Kenya Bankers Association (KBA) have announced a new partnership that seeks to deepen financial inclusion in…

September 24, 2020

How to import a car in Kenya

If you’re planning to buy a car, chances are you’re really considering importing it. While some people prefer getting their…

September 23, 2020

Jumia launches Brands Festival Campaign to make quality products more affordable

Jumia Kenya has launched Brand Festival, a new campaign to make quality products more affordable for its customers. The e-commerce…

September 23, 2020

StarTimes adds WarnerMedia’s TNT to its Content List

Leading media and Entertainment Company, WarnerMedia, has expanded its entertainment offering in Kenya by introducing its Hollywood blockbuster channel, TNT, on…

September 23, 2020

Safaricom Named in Fortune’s 2020 “Change the World List”

FORTUNE has released its Sixth Annual “Change the World List,” which names the most impactful companies through their operations in…

September 22, 2020

Buy any Amazing Data Bundle on Airtel Kenya and Get Free 500MB Daily Data

Airtel Kenya is continuing its cheap data legacy, offering free data on every purchase of their Amazing Data bundle packages.…

September 19, 2020

Itel Announces New Slogan to match its new brand direction

Itel Mobile Kenya has announced their new slogan “Enjoy Better Life!” marking a new path for the brand that has…

September 18, 2020

HP Confirms it’s NOT Leaving the Kenyan Market

HP has confirmed that it is not leaving the Kenyan and East African market. The maker of hardware products says…

September 16, 2020

Lipa Na M-PESA Boasts Over 200,000 Business Customers

Safaricom’s Lipa Na M-PESA service now houses over 200,000 businesses since its launch in 2012. Its primary focus is to…

September 15, 2020

Hewlett Packard East Africa Exits Market, shuts down Nairobi shop

Hewlett Packard East Africa Ltd, HPE, a subsidiary to giant American technology firm Hewlett Packard Enterprise, and provider of an…

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