Branch, which is best known for digital lending solutions and services in Kenya, will spearhead the rollout of digital banking services across key markets in Africa once the local operation crystallizes before the end of the year. Speaking in Nairobi at the formal signing ceremony for the acquisition of Century Microfinance Bank, Silicon Valley-based Branch International founder Mr Matt Flannery said the firm is set to invest heavily in the strategic venture. “Branch International engaged a number of potential investment partners locally but settled on Century Microfinance which ticked many of the boxes and remains a right fit partner for…
Author: NLM Editor
By Milford Bateman and Fernando Amorim In a major exposé of the ‘fintech revolution’ in Africa, Milford Bateman and Fernando Amorim Teixeira write that the investor-driven fintech model is nothing less than a ‘digitalised’ extension of the earlier colonial-imperialist ‘extractivist’ models that enabled the western nations to appropriate Africa’s natural resource wealth to fund their own economic prosperity. It is very widely accepted that Kenya’s iconic mobile money transfer platform, M-Pesa, has spearheaded what has been called the “fintech revolution”. Defined as “computer programs and other technology used to support or enable banking and financial services”, in its very simplest…
Echotel’s Ken Munyi has always been in information technology, finance and administration management space. A certified accountant (CPA) with a Bachelor’s of Arts degree in Economics and Sociology, certification in Information Systems Audit, and also holder of a Post Graduate Diploma (PDH) in Strategic Management from the University of Leicester, UK, the adept corporate leader is currently pursuing his MBA at University of London. Mr Munyi began his career with Fellowship of Christians Unions (FOCUS) as an accountant before moving to Africa Online in Tanzania where he joined as assistant accountant. He grew through the ranks, and would be a…
Jomo Kenyatta University of Agriculture and Technology (JKUAT) students recently emerged the top winner of the recently held Association of Chartered Certified Accountants (ACCA) Inter-University Strategic Business Leadership Challenge. The Veex Strategia team, comprising three team members, scored the highest points in the third and final stage, out of the overall 38 institutions of higher learning who had participated in the challenge from across 15 counties in Kenya. In their own words, Enock Omonywa, Esther Wanjohi, and Xavier Onyangi share their journey of resilience to winning Sh150,000 each worth of scholarship from ACCA and internship placements in accountancy firms such…
By Tejpal Bedi In 2021, President Kenyatta approved an amendment that gives the Central Bank of Kenya powers to license and oversee previously unregulated digital money lenders. Citing technology advances and ongoing innovation in the sector, the monetary authority recognised the growth of lending through digital channels (particularly via mobile phones) as well as challenges that have accompanied this growth. Public concerns have included lenders engaging in predatory practices, high costs, and the abuse of personal information. Referred to by President Kenyatta as long overdue, the amendment is a significant step forward for a sub-industry backed by Kenya’s reputation as…
The individual pension product allows one to build their long-term investment plan by making regular contributions Kenya Orient Life Assurance are the winners of the 2021 “Pension Marketing Campaign of the Year” award in recognition of the firm’s effective social media marketing campaign on the individual pension plan geared to boost the uptake of personal pension products. Dubbed “get the pension that works as hard as you do”, the digital campaign aims at helping the public to understand the significance of saving as early as possible in a bid to secure their future. The individual pension product allows one to…
Centum Real Estate Limited has appointed Kenneth Mbae as its new managing director effective March 2022. He takes over from Samuel Kariuki who has been at the helm of the firm for the last six years. Prior to the appointment, Mr Mbae served as the chief operating officer of Centum Re overseeing operations in Kenya and Uganda. He previously served as the founding managing director of Vipingo Development, the largest Centum Re subsidiary. Besides his stint at Vipingo, as a member of Centum, he has been involved in the delivery of various other projects including development of residential housing at…
EWAKA, Africa’s new market entrant spearheading sustainable mobility options, has launched a green response to Africa’s expanding transportation requirements through the introduction of electric options including an electric “boda boda”. The newly launched vehicle options include electric bodas, the backbone of Africa’s local delivery sector, and rideshare options including electric kick start scooters and bicycles available on demand. Additionally, the firm will be offering clients robust IT capabilities to support transportation management efforts through an online and mobile-based app that enables real-time tracking of vehicles, performance metric monitoring and geofencing for remote immobilization if needed for security options. “There is tremendous…
Higher education provider United States International University-Africa (USIU-Africa) has introduced new undergraduate, graduate and postgraduate courses to meet evolving market needs, interim Vice-Chancellor Prof. Freida Brown confirms. She disclosed that the introduction of the new courses are geared at supplying the international job market with a pool of well-trained candidates proficient in research and information technology applications. Brown said the varsity had invested heavily in the course development and the programs have already kicked-off successfully. “The world is now a global village, and USIU-Africa is actively revising and improving its academic delivery mission to guarantee our graduates a place in…
SGA Security, a private security firm, and Netherlands – based golf retail chain GolfPlaza have joined hands to sponsor Africa Golf Program (AGP) through donations of equipment and accessories comprising of new golf clubs, polo shirts, golf bags and caps. The move aims at equiping disenfranchised youth from Kibera slums in Nairobi and enable them get an opportunity to hone their sports talent by participating in the golf program that has produced some of the leading young golfers in Kenya in the recent past. Speaking during the handover ceremony, AGP program director Rose Naliaka thanked the two companies for boosting the foundation with more equipment for AGP…