Author: Kaluka wanjala

According to the latest Global Findex Database 2024 by the World Bank, 49% of young Kenyan adults now rely exclusively on mobile money accounts, compared to just 41% who use traditional banks. On the other hand, 48% of older adults are banking formally and 42% using only mobile accounts. This 7-point generational gap reveals a deeper shift in how young Kenyans interact with financial services. “In Kenya, the region’s pioneer in mobile money, 32 percent of adults or 86 percent of formal borrowers—borrowed from their mobile money providers,” the report notes. Why Mobile Money is Winning The appeal is very…

Bolt Kenya has introduced a new “Family Profile” feature that makes it easier for users to manage and pay for rides for up to nine people from a single account. The company said it designed this feature with Kenyan households, caregivers, and support systems in mind. It is also meant to simplify shared mobility while at the same time guaranteeing safety and control. What Is Bolt Family Profile? The Family Profile allows the main user to invite up to nine other people, set spending limits, and receive real-time trip notifications. All this is done while handling payments from one account.…

Standard Chartered has released its 2024 Sustainability Progress Report released this week. The report shows how the bank is embedded in Kenya’s socio-economic transformation, from slashing carbon emissions to unlocking new investment avenues for women and youth. The bank’s sustainable finance income grew by 132% to KES 2.99 billion, while sustainable finance assets soared more than tenfold to KES 31.3 billion. “Sustainability is not an add-on, it is central to how we create value for our clients and communities,” said Kariuki Ngari, Managing Director and CEO, Kenya and Africa, Standard Chartered. “We are proud to integrate sustainability into our core…

Visa has partnered with the Nairobi Securities Exchange Plc (NSE) to unveil a report aimed at reshaping Kenya’s retail investment landscape.  The report, “Reimagining Retail Investors in Kenya: A technology-Centered Blueprint”, outlines a bold, inclusive strategy to expand access to capital markets and empower everyday Kenyans to become active investors. The report identifies key market related dynamics including onboarding, trading costs, and financial literacy and proposes actionable solutions rooted in behavioral science, mobile-first innovation, and community-based models. “This report marks a turning point in how we think about financial inclusion,” said Chad Pollock, Vice President and General Manager for Visa…

Liquid Intelligent Technologies has announced a strategic partnership with DropByDrop Water Systems (DropByDrop), a global provider of smart water technologies. This collaboration, which combines Liquid’s extensive network and tailored technology solutions with DropByDrop’s cloud-based water management platform, will deliver smart water solutions to resolve non-revenue water challenges in the country.  “Water scarcity is a growing challenge across the continent, and managing this precious resource efficiently is more important than ever. Through our partnership with DropByDrop, we’re bringing Liquid’s advanced technology and data-driven solutions to Kenya’s water sector. By helping providers digitise their infrastructure and build smart water ecosystems, we’re empowering…

OPPO has announced that it will launch the new Reno14 Series in Kenya on 24th July. This is the successor to the Reno 13 series from late last year. It combines sleek design and improved durability. This combination makes it a stylish yet tough companion for everyday use. The Reno14 Series brings together elegance and strength in one package. It introduces a shimmering finish using a new 12-layer coating process, resulting in a beautiful and eye-catching look. OPPO calls it the Iridescent Mermaid Design, and it will be available in Luminous Green and Opal Blue. The Reno14 F 5G is…

Last week, at an event hosted by the Virtual Asset Chamber of Commerce (VACC) to discuss the evolving crypto and digital asset landscape in Kenya, there was discussion on the role that over-the-counter (OTC) crypto trading and stablecoins are playing in addressing real economic challenges for businesses and individuals across Africa. The foreign currency shortage in countries like Kenya forced businesses to find alternative methods of transacting internationally. As Tony Olendo, Chairman of VACC, noted, government debt obligations are often prioritized by banks over private businesses, especially SMEs, for access to scarce USD. This means that midsize enterprises and even…

Airtel Kenya has surpassed the 24 million subscriber mark. The achievement is highlighted in the latest sector statistics report from the Communications Authority of Kenya (CAK) and forms the backdrop for the launch of Airtel’s newest network campaign, ‘Na Bado Tunagrow’. By reaching 24 million subscribers, Airtel has cemented its presence as the second-largest telco in Kenya. Safaricom has maintained the top spot with over 60% market share for years. Telkom Kenya, on the other hand, remains a distant third with a shrinking subscriber base.  Airtel has been working towards narrowing the gap through aggressive pricing, expansion into remote regions,…

Last week, we reported that Cynthia Karuri-Kropac had stepped down from her position at Safaricom and had been replaced by Frankline Okata. At the time, there was no official communication from Safaricom. However, the telco has now provided more details. A statement from Safaricom CEO Peter Ndegwa read in part, “I wish to announce that I have appointed Frankline Okata, currently the Tribe Lead – Packaged Solutions, as the Acting Chief Enterprise Business Officer, effective 5th July 2025.” It remains unclear why Cynthia Kropac left her role, or whether her exit was voluntary. The statement simply noted, “This change follows…

Yesterday, Absa Bank unveiled La Riba Timiza, Kenya’s first fully Shariah-compliant mobile banking platform by a Tier 1 bank. The bank plans to use this product to deepen financial inclusion among Muslims and other consumers. The bank also introduced a new Shariah-compliant payment solution dubbed La Riba Card. Absa was among the first banks to pioneer Islamic banking in Kenya 20 years ago. With the new launch, the bank strengthens its offering in ethical finance and expand access to previously underserved customers. Speaking during the launch of the enhanced La Riba banking offering, Absa Bank Kenya MD&CEO Abdi Mohamed reiterated…