Author: Kaluka wanjala

Absa Bank Kenya has officially stepped into the custody services space. This move shows the bank’s ambition to become a key player in facilitating secure, compliant and tech-enabled investment solutions for institutional clients across Kenya and beyond its borders. Themed “Aligning to the Future of Investments,” the launch event brought together key stakeholders including pension fund managers, trustees, Saccos, insurance firms, regulators, and capital markets experts. The goal is to explore how evolving financial landscapes, technologies, and investor needs are reshaping how institutions manage and safeguard their assets. Custody services often operate behind the scenes, but they are critical in…

UK-based FinTech startup Verto has won the $1 million Grand Prize in the Milken-Motsepe Prize in FinTech. The company emerged as a standout player in a competition that attracted over 400 global applications. The prize recognizes innovators expanding access to capital and financial services for small businesses in emerging and frontier markets. For businesses in Kenya this win is a clear sign that solutions built to solve our real-world financial challenges like slow, expensive cross-border payments are finally getting the global recognition and backing they deserve. At its core, Verto is a B2B cross-border payments platform. But for the many…

Bolt has announced the rollout of a Flight Tracking feature that syncs with your flight details when scheduling a ride from the airport. Witn this feature,  delays, cancellations or early arrivals don’t leave you stranded or overcharged. With this new update, Bolt will automatically adjust your scheduled pick-up time based on your actual flight status. If your flight is delayed, your ride pick-up is rescheduled accordingly. If it’s canceled, the ride gets canceled too at no extra cost. “With Flight Tracking for Scheduled Rides, our private and Bolt Business customers can now sync their flight details when scheduling a ride…

Safaricom has announced a strategic partnership with iXAfrica Data Centre to deliver East Africa’s first AI-ready data center services. The partnership brings together Safaricom’s enterprise and cloud expertise with iXAfrica’s purpose-built, hyperscale-ready data infrastructure to provide businesses and government institutions with secure, scalable, and cost-effective solutions for hosting and managing data, locally. This collaboration is designed to meet the growing demand for AI-powered services. The offering gives enterprise clients the ability to host AI-intensive workloads, perform high-performance computing, and ensure data sovereignty without needing to route sensitive information abroad. “As East Africa’s digital economy continues its rapid expansion, businesses increasingly…

Cassava Technologies and Zindi have just announced a new partnership that could reshape how artificial intelligence (AI) is built and scaled across the continent. The collaboration was formalized through a Memorandum of Understanding (MoU) and brings together Cassava’s powerful data centre infrastructure and GPU-as-a-Service (GPUaaS) offering with Zindi’s network of over 60,000 African data scientists. The goal is to fast-track the development and deployment of AI solutions that are made in Africa, for Africa. “For Africa’s AI ecosystem to grow and thrive, it is essential to provide platforms and resources for the continent’s developers and start-ups,” said Hardy Pemhiwa, President…

Visa has appointed Victor Makere as Country Manager for Tanzania, Uganda, Burundi, and Rwanda. Victor will be at the helm of Visa’s strategic efforts across these key East African markets in his new role. He will be responsible in driving the adoption of digital payment solutions and deepening client relationships. Victor has experience in digital financial services, mobile money, and strategic partnerships. His role will include managing a broad client portfolio, driving revenue growth for both Visa and its partners, and handling initiatives that promote financial inclusion and innovation. Commenting on the appointment, Chad Pollock, Vice President and General Manager…

The Postal Corporation of Kenya (PCK) is set for a major transformation by the government. The government wants to reposition the state agency to help it keep up with the digital age. With the rise of e-commerce and digital logistics, the government hopes to turn Posta into a key player in this sector. Speaking during a meeting with PCK officials, State Department for Broadcasting and Telecommunications Principal Secretary Stephen Isaboke said that modernizing PCK is part of the government’s broader effort to align State Agencies and Government Authorities (SAGAs) with current technological trends. “Posta holds immense potential for growth, especially…

Jumia Technologies has updated its 2025 outlook, expressing confidence in its path to profitability. This was revealed even as headline revenues fell in Q1 2025. The e-commerce company posted mixed results for the quarter ending March 31. The company revealed that strong operational execution, growing customer activity, and better financial discipline as signs of an ongoing turnaround. Revenue for the quarter stood at $36.3 million, which is a 26% drop year-over-year. The drop was largely due to a steep decline in high-margin corporate sales in Egypt. This segment is vulnerable to macroeconomic shocks and currency devaluations. Despite this, Jumia’s core…

Bokra, the MENA goal-based digital investment platform, has announced a $3 million Sharia-compliant financing agreement with iSUPPLY, a digital pharmaceutical and medical supply distribution. The deal will power iSUPPLY’s next phase of growth and at the same time expand access to critical medical supplies across Egypt. Unlike traditional funding methods, this collaboration introduces a revenue-based, revolving financing model, entirely structured in line with Islamic finance principles. For Bokra, “This partnership reflects Bokra’s mission to unlock high-impact, Sharia-compliant investment opportunities that generate meaningful economic and social value,” said Ayman ElSawy, Founder and CEO of Bokra. “By backing a data-driven healthcare disruptor…

Airtel Kenya has today rolled out a new AI-powered Spam Alert Service. This service is available to all Airtel subscribers at no extra cost. This service was launched in Nigeria back in March.  This new service is designed to help Airtel customers using smartphones and feature phones detect and avoid suspicious text messages. The system works in the background and flags suspicious texts as “Suspected SPAM”. Spam texts in Kenya have become a nuisance. They can be fake promotions to cleverly crafted scams meant to harvest your personal data or steal money. These SMS messages are now a real threat.…