Author: Kaluka wanjala

The Mastercard Foundation Fund for Resilience and Prosperity has launched an Agribusiness Challenge Fund, calling for proposals from SMEs in the agriculture sector that can create work opportunities at scale for young women and men, young persons with disabilities, and refugee youth.  The Mastercard Foundation Fund for Resilience and Prosperity is a new fund established following the successful conclusion of the Mastercard Foundation Fund for Rural Prosperity, which was in operation for eight years from 2014 to 2023 and supported 38 participant businesses from 15 countries in Africa. These businesses were able to innovate and scale financial products and services targeting the rural population…

Servercore has announced the launch of its Affiliate Program in Africa. The program offers lucrative opportunities based on services each customer utilizes on Servercore and seeks to invite and form partnerships with businesses, influencers, and individuals who want to benefit from the rising demand for innovative cloud solutions in Kenya and Africa.  Affiliates will earn a 10% commission for every new client who spends up to 500,000 KES monthly on Servercore services. When the customer’s monthly expenditure exceeds 500,000 KES, the commission rises to 15%. However, when a customer’s monthly expenses drop below the 500,000 KES threshold, the monthly reward…

Glovo has announced the appointment of Sonali Patel Visram as its new Chief Commercial Officer (CCO) for Kenya. Sonali brings with her vast experience with over a decade of experience in business development and e-commerce. She has a distinguished track record of driving revenue growth and operational excellence in the on-demand services sector. She previously served as the Commercial Director of Jumia Food Kenya, where she played a pivotal role in shaping growth strategies and optimizing operational efficiency. “Sonali’s appointment comes at a pivotal moment for Glovo Kenya,” said Caroline Mutuku, General Manager of Glovo Kenya. “Her proven expertise in…

Mastercard and Equity Bank have announced a strategic collaboration that will enable Equity Bank customers to send money safely and securely to 30 countries. This collaboration marks a significant milestone for cross-border financial transactions in Kenya. Remittances are a key economic driver in Sub-Saharan Africa with a reported $53 billion flowing into the region in 2022. In Kenya, the Central Bank of Kenya reported $5.77 billion worth of foreign currency inflows in 2022. Cross border remittances unlock financial inclusion by empowering individuals to access formal financial services, ultimately fostering economic growth and stability in the region. Through Mastercard Cross-Border Services,…

Verod-Kepple Africa Ventures (VKAV) has announced that it has closed its first fund at $60 million.  Key institutional investors in the fund include SBI Holdings, Toyota Tsusho Corporation, Sumitomo Mitsui Trust Bank, Japan International Corporation Agency, and Japan ICT Fund. New investors joining the final close include SCM Capital, formerly known as Sterling Capital Markets Limited, from Nigeria and a few additional institutional investors from Japan, including Taiyo Holdings and C2C Global Education Japan. VKAV is the first fund by Verod-Kepple Africa Partners, a joint venture between Verod Capital Management, a West African private equity firm investing in mid-sized enterprises across sectors, and Kepple Africa…

Y Combinator (YC) is one of the leading startup accelerators in the world. Founded in 2005, this tech startup accelerator has invested in over 5000 companies that have a combined valuation of over $600 billion. YC invests in startups in all corners of the world including Kenya. The latest investment in a Kenyan startup was about 2 weeks ago when it invested $500,000 in Triply, the Kenya travel tech startup. With this investment, I thought I should check out some of the other Kenyan startups it has invested in over the years. I was actually surprised to find out that…

Daktari Smart, a telemedicine programme run by Gertrude’s Children’s Hospital, Gertrude’s Hospital Foundation, and the M-PESA Foundation, aims to reach and treat at least 32,400 children in five (5) counties in the initial phase. In the next five years, Gertrude’s Children’s Hospital, and its Foundation targets to impact 5 million children in the region, and directly provide care for 45,000 children who are suffering from rare and complex non-communicable diseases such as cancer and cardiovascular disease. Since it was launched in 2021, the Daktari Smart initiative has reached ten thousand (10,000) children with specialised paediatric medical care. The programme is…

By Henry Myburgh, strategic key account manager at Vertiv Africa In the dynamic and ever-changing retail landscape, ongoing transformation is a strategic necessity to cater to the primary reality that ‘the customer is king’ – retailers must be adaptive to change in order to meet new customer demands. The intricate interplay of consumer behaviours, driven by the unstoppable surge of the digital revolution and accelerated by global events such as the COVID-19 pandemic, has highlighted the need for a comprehensive re-evaluation of IT infrastructure, including power sources. However, the ongoing evaluation of IT infrastructure takes place in a landscape characterised by intricacies and…

LG Electronics has introduced to the Kenyan market its new WashTower, an all-in-one washer – dryer combination that is envisioned to redefine the laundry experience for users. The LG WashTower was unveiled during an event at a Nairobi Hotel, attended by representatives from LG’s official distributor Opalnet, as well as retailers such as Hotpoint Appliances Limited, Carrefour, Naivas supermarkets, and others. The WashTower combines a sleek design with state-of-the-art technologies that drive smart features like cloud connectivity and remote control, making it a connected appliance that aligns with the tech-savvy and modern lifestyle of Kenyan consumers. An eco-friendly option that aligns…

Over one year ago, I&M Bank became the first and only bank to waive Bank to M-PESA and Airtel Money transfer fees for all personal account holders. Dubbed ‘Ni Sare Kabisa’, the free transfers have significantly reduced costs for consumers. I&M Bank has today announced the free bank to M-PESA and Airtel Money transfers for personal customers will now also be extended to Solo Biz owners (sole proprietorships). This underscores I&M Bank’s commitment to supporting small businesses in Kenya and driving financial inclusion. Solo Biz owners can visit any branch or download the I&M Bank App and open an account…