Kenya Archives - Page 4 of 11 - AfricaBusiness.com

22Oct

By Africa BusinessNo Comments

Fintech, Kenya News, Nigeria News, South Africa News, Startups

Nigerian Fintech, Brass, Secures $1.7mn Financing Round “to bet on African SMEs”

“Africa’s new bank for startups and SMEs” to expand to South Africa & Kenya following funding Brass, a Nigerian digital bank delivering easy access to affordable premium banking services for small and medium-sized businesses (SMEs), has today secured $1.7mn in funding to address the heavily underserved banking needs of local entrepreneurs, traders and fast-growing businesses. The financing round sees participation from Olugbenga ‘GB’ Agboola (Co-Founder of Flutterwave), Ezra Olubi (Co-Founder of Paystack, acquired by Stripe), Hustle Fund, Acuity Ventures, Uncovered Fund and Ventures Platform. The new funding will play a key role in accelerating Brass’ expansion into South Africa and Kenya - just a year after launch, and will kickstart a range of new product categories, including an ex...

18Oct

By Africa BusinessNo Comments

Kenya News

Autochek Officially Launches in Kenya

African automotive company aims to increase its footprint across East Africa Nairobi, Kenya - Autochek, the automotive technology company that aims to facilitate auto finance across Africa, has officially widened its operations to Kenya as part of its pan-African expansion. To lead its Kenya operations, Autochek has appointed Bilhah Muriithi as the Country Manager. Having recently acquired automotive marketplaces Cheki Kenya and Cheki Uganda from ROAM Africa (Ringier One Africa Media), the move into the Kenyan market signals Autochek’s focus on building digital solutions that will increase market adoption for auto loan financing and drive partner prosperity for its core stakeholders, such as dealerships, garages and financial institutions. With credit penetration in Kenya at 27.5% and ...

17Oct

By Africa BusinessNo Comments

Kenya News

Adenia acquires leading grower of premium roses in Kenya

Adenia Partners, a private equity firm investing in Africa, has acquired a majority stake in Altilands SA, the parent company of Red Lands Roses (“Red Lands”), a leading grower of premium fresh-cut roses in Kenya. Red Lands is internationally recognized for its green horticultural practices that respect people and the environment. Financial terms of the transaction were not disclosed. Established in 1996 by agronomist, Isabelle Spindler, Red Lands operates a farm of 28 hectares, 35 kilometers northeast of Nairobi, at approximately 1,565 meters above sea level. Red Lands’ premium fresh-cut roses have fuller heads, longer stems, and an enviable vase life of 12 to 21 days which not only provides value for its targeted premium florist market, but also ensures an overall lower carbon emissions...

12Oct

By Africa BusinessNo Comments

Fintech, Mauritius News, Startups

Peach Payments expands into Mauritius, serves as key event sponsor at Africa FinTech Festival

Peach Payments is pleased to announce that it has set up an office in Mauritius recently in pursuit of its pan-African expansion strategy. As a FinTech start-up that was set up in South Africa in 2012 and expanded into Kenya in 2018, the company is set to make a significant contribution to the pan-African FinTech landscape as a key event sponsor at the Africa FinTech Festival (AFF) which is being held in a virtual format by the Mauritius Africa FinTech Hub (MAFH) from 13 to 15 October 2021. Peach Payments is a world-class payment gateway offering simple, seamless and secure online payment services which enable businesses to easily accept payments on their websites and mobile apps, integrating with leading e-commerce platforms like WooCommerce, Shopify, Wix and Magento. As the organ...

17Sep

By Dr. Ehud GachuguNo Comments

Kenya News, Main, Tech

Report shows young people earning livelihoods working in digital platforms

By Dr. Ehud Gachugu The digital economy is expanding largely in Kenya. Covid-19 has accelerated the growth since Kenyans, especially youth, have now recognized the potential to earn a living in digital platforms. The pandemic led not only to a health crisis but also an economic crisis. The measures imposed by the Ministry of health, such as physical distancing and cessation of movements, contributed to the increasing role of platform livelihoods. Those in logistics were considered as essential delivery agents and service providers. The small and medium enterprises switched to online shopping. Farming was also not left out as when complying with the set measures, a social and online farmer emerged. The offline gigs for musicians and creatives declined hence they focused on their digital p...

7Sep

By Faizal BhanaNo Comments

Kenya News

Challenges of Governance and Succession; A Focus on the Integration of the NexGen in Family-Owned Businesses in Kenya

Written By Faizal Bhana, Director – Middle East, Africa, and India, Jersey Finance Family-owned businesses in East Africa have been instrumental to the socio-economic development of the region and a catalyst for the growth of the private sector. With a long multi-generational history, their focus has been on manufacturing industries, consumer goods, construction, and agriculture. Hence the need to ensure a more integrated and structured wealth transfer method, particularly with the next family generation (‘the NextGen’) for longevity purposes. According to research by Asoko, there are 645 family-owned businesses earning between US$10m and US$100m in East Africa. Nearly three-quarters of these companies are Kenyan with Uganda, Rwanda, and Tanzania accumulating 2% of the total figure each....

30Aug

By Pracksidis WanderaNo Comments

Kenya News

Opinion: Are we ready for the system shift to a Circular Economy?

Recently, the push for governments, civil societies, the private sector among other stakeholders to adopt circular business models to reduce climate change, encourage sustainable consumption that allows for regeneration of the natural ecosystem, build an economy that eliminates waste and pollution has gained traction. We can attest to this through the different efforts deployed by different stakeholders to build back better not just for businesses but for the planet and society. But how do we make the shift in these changing times? Businesses need to adopt and embed circular economy in their climate strategies. It’s no longer business as usual but to have a shift on how to conduct activities. Businesses’ objectives should be based on building a more resilient, thriving, and a circular ec...

30Aug

By Africa BusinessNo Comments

African News, Mauritius News

Over 4m Jobs In Mainland Africa Supported By Mauritian IFC – Report Shows

A major new study launched today shines a light on the millions of jobs and multibillion dollar GDP created for mainland Africa due to Mauritius’ role as a leading International Financial Centre (IFC). The study argues that the Republic of Mauritius is poised to play a critical role in supporting Africa’s progress towards achieving the UN Sustainable Development Goals. The new report ‘Facilitating Growth, Employment & Prosperity in Africa’ has been produced by Capital Economics for the Economic Development Board of Mauritius. The key findings of the report show that: 2 million jobs in mainland Africa are supported by foreign investment mediated by Mauritius. These mainland jobs represent more than three times the Mauritian population and 0.6 per cent of all employment in the co...

28Jul

By Shahina ParvinNo Comments

Kenya News

Growth and Progress of Kenya’s Insurance Market

AM Best company has published a report on the overall state of Kenya's insurance market and how price competition hinders its growth potentials. The key takeaways are challenging macroeconomic factors which are expected to abate from 2021, the successful execution of risk-based capital requirements that are strengthening the credit quality of market participants, and price undercutting becoming a hindrance for the companies in generating sufficient capital. Kenya’s economy is relatively stable than the other markets in sub- Saharan Africa and that facilitates the growth of its insurance sector. But the market growth gets impeded due to the low awareness of insurance products and low trust in insurance companies. Price undercutting in the non-life segment has hampered premium growth and al...

15Jul

By Joseph MainaNo Comments

Agriculture, Kenya News

GM cassava promises higher yields and profits for Kenyan farmers

Cassava farmers in Kenya are set to reap more yields and earn higher profits from their crops as the East African country prepares for the rollout of a genetically modified (GM) cassava variety that can fight off two of the most devastating diseases affecting the crop in the region. The government’s approval in June for environmental release to conduct National Performance Trials (NPT) for cassava varieties offering disease-resistant traits marks the penultimate stage before the superior variety is finally released to farmers. Free seed material is just one of the many benefits that lie ahead for cassava farmers in the country once the improved crop is approved for release to farmers. “This cassava will be free to the small-scale farmers,” said Dr Catherine Taracha, Director of Biotechnolo...