Author: Kaluka wanjala

NCBA Group has posted a profit after tax of KES 21.5 billion in its Full Year 2023 results which is a 56 per cent increase compared to KES 13.8 billion reported during a similar period in 2022. The growth trajectory for the Group remained solid driven by positive operating income and a decline in loan impairment charges by 29.9 per cent year on year. Operating expenses closed at 19 per cent up year on year driven by inflationary pressures and continued investment in the current strategic priorities. While releasing the Full Year 2023 financial results, NCBA Group Managing Director, John Gachora commented, “The Business has sustained…

Satgana, a Climate tech VC firm backing early-stage startups in Africa and Europe, has announced the final closing of its first Climate Tech VC fund. The fund reached a final close of  €8 Million in commitments from family offices and high-net-worth individuals. The fund hopes to empower entrepreneurs to create sustainable, impactful ventures for a greener future. The challenging fundraising environment have influenced the firm to close the fund early. This is even worse for first-time fund managers.  Speaking to TechCrunch, Satgana founder and general partner, Romain Diaz said, “We launched the fund mid-2022, and we have raised in the…

The Norrsken Accelerator is now accepting applications for the 2024 cohort. Application is open to any early-stage startup founders from across the world including those from Africa.  The 2024 cohort will take place at Norrsken House in Stockholm from July to September 2024. The Norrsken Accelerator is a program for flounders with a vision for a better future. It is looking for 20 early-stage impact startups to join us for an 8-week sprint in Stockholm. This program is designed to scale the growth of the startups and their impact world-wide. Being part of the Norrsken Accelerator program, startups will get: …

BURN manufacturing has secured a $12 Million investment to expand the distribution of clean cookstoves in Africa. BURN is a manufacturer and distributor of clean cookstoves. This latest investment was led by Key Carbon and is supported by Cartesian, a global private equity firm that invests in innovative projects. This investment will be used to distribute electric cookstoves in Kenya, Tanzania, Uganda, and Zambia and biomass stoves in Nigeria, DRC, Tanzania, and Mozambique over the next two years. In Sub-Saharan Africa, cooking with traditional cooking fuels – like firewood or charcoal – results in several negative health, environmental, economic and…

LG Electronics has announced offers across its range of electronics ahead of the Easter Holidays, and running through the first week of April. During the campaign, customers purchasing LG products at LG brandshops, as well as Opalnet and Hotpoint stores, will receive discounts of between 6% and 27%. The campaign covers diverse LG electronics including home appliances like washing machines, dryers, and wash tower, microwave ovens, and refrigerators, as well as home entertainment systems among them the LG OLED TVs, LG QNED TVs and LG Nanocell TVs, and many others. Buyers of the LG Wash Tower 13/10Kg will save KSh47,000…

Imagine calling someone who does not speak your language, say, French, then the other person speaks in French, but your phone relays the phone call to you in English. Is this even possible? Can such an evolution be already happening? Yes. It is happening through the newly-launched, AI-Powered, Samsung S24. The S24 comes with several AI-powered features, including Live Translate. This particular feature translates phone calls in real-time directly on your device. You will essentially have your translator, which will make multilingual communication easier. The feature supports the following languages; Chinese Simplified, English (India, United Kingdom, United States), French, German,…

With nearly a million developers, a flourishing cross-industry entrepreneurial mindset, and a remarkable surge in blockchain adoption, Africa’s ability to lead blockchain technology impact is undeniable. Yet, technology entrepreneurs face barriers like limited access to finance and expert mentorship. Lisk’s Blockchain Incubation Hub intends to solve that issue. Lisk is a fast and scalable Layer 2 (L2) network secured by Ethereum. As a member of the Optimism Superchain, Lisk provides builders and users some of the cheapest fees possible in the Ethereum ecosystem (currently sub 1 cent) and is actively contributing to the larger Superchain mission of onboarding the next…

Small businesses in Livingstone, the country’s top tourism destination, can now benefit from the ITC ecomConnect Learning Programme’s suite of digital tools and training. The programme, a collaboration between the International Trade Centre (ITC) and Absa Bank Zambia Plc, aims to unlock the potential of online business for growing trade. ‘The initiative represents a significant milestone in our efforts to foster economic development and empower our local entrepreneurs,’ Livingstone Mayor Constance Muleabai said at the launch on 14 March. ‘Our city is also home to a vibrant community of small and medium enterprises striving to succeed in an increasingly digital…

Dimension Data is set to rebrand to NTT Data effective this April, following regulatory approval by the Communications Authority of Kenya (CA). The transition is expected to usher in a new era for the company, introducing NTT DATA’s renowned global services to not only in Kenya but in East Africa. Through a comprehensive array of services and innovation spanning consulting, applications, infrastructure, connectivity, and operations, the companies’ clients will benefit from the assurance of partnering with a globally recognized and respected technology provider. Announcing the rebrand, Dimension Data Managing Director for East and West Africa Richard Hechle expressed excitement about…

Check Point has announced a collaboration with Microsoft that utilises the Microsoft Azure OpenAI Service to enhance Check Point Infinity AI Copilot, marking a significant advancement in cyber security AI applications. Infinity AI Copilot is a generative AI service that uses automation to accelerate security administration up to 90% and increase security effectiveness through faster incident mitigation and response. In today’s digital landscape, businesses moving to cloud environments face two major challenges: increasing cyber threats and a shortage of cyber security professionals. This situation puts organisations at greater risk of advanced cyber attacks, often without enough resources to respond effectively.…