Author: Kaluka wanjala

AXIAN Telecom has formally revealed that it now beneficially owns 8.0% of the total shares of JUMIA Technologies. This was disclosed through a beneficial ownership report filing to the U.S. Securities and Exchange Commission (SEC). This filing was required since JUMIA Technologies AG is listed on the New York Stock Exchange. Any individual or entity that acquires more than 5% of a company’s shares and intends to influence decisions through voting, board seats etc, is required to do so. As AXIAN Telecom now controls 8% of JUMIA’s shares, it can now influence shareholder votes or key strategic decisions. Hassan Jaber,…

Twiga Foods plans to scale down its workforce and freeze operations in Nairobi, according to the Business Daily. The publication reports that the startup will pause operations in Nairobi for 60 days until August. During this period, the startup will develop an alternative distribution center in a more strategic location.  Back in April, the startup announced the acquisition of three regional food distributors in Kenya. These are Jumra (serving Nairobi and Central), Sojpar (Western), and Raisons (Coastal). This acquisition was part of the company’s expansion strategy to streamline food distribution across Kenya. When this announcement was made in April, TechArena…

Equity Group’s digital-first strategy is proving to be effective for its recent financial results for Q1 2025. The bank recently released its financial results, revealing that 87% of all customer transactions are now processed through its digital channels. This is quite impressive and one of the highest by a bank in the region.  This digital shift has contributed to the bank’s positive financial performance for Q1 2025. During this period, profits after tax jumped to Kshs 15.4 billion. This is a bit lower than the Kshs 16.5 billion its competitor, KCB Bank, reported during the same period. Equity also grew…

At the Connected Africa Summit 2025, Safaricom’s Director for Enterprise Solutions, Wholesale & Carrier, Bernard Muteti, took the stage and called for a shift in how we build, manage and shared fibre optic infrastructure in Africa. He shared a roadmap that can help reduce the cost of deploying broadband and expand digital access across the continent. “Fibre is the backbone of Africa’s digital economy,” he said. “But the high cost of deploying it continues to limit its reach and impact.” Fibre optic networks, while essential for high-speed internet and reliable connectivity, remain underutilized across large parts of sub-Saharan Africa. According…

At this year’s Connected Africa Summit 2025, Safaricom’s Head of M-PESA Payments, Victor Odada, delivered an interesting keynote on what the next generation of fintech in Africa looks like. If you have a startup you want featured on TechArena, let us know through this contact form here. FinTech 2.0 is not just about faster transactions or fancy new apps, according to Odad, who says it is about creating real impact. This is the kind of impact that changes lives, grows businesses and builds stronger communities. In his keynote, titled “FinTech 2.0: Building Financial Services That Work for Everyone,” Odada laid…

NCBA Bank has announced the introduction of an instant customer onboarding feature on its mobile platform, NCBA Now. This allows users to open bank accounts entirely online, without the need to visit a physical branch. With a few taps on their smartphones, prospective customers can now download the NCBA Now app, input their identification details, including ID card information and a photo for verification, and open an account from anywhere, at any time. “At NCBA, we are committed to excellence in customer experience,” said John Gachora, NCBA Group Managing Director. “This includes providing convenience and accessibility. That is why we…

Technology distributor Westcon-Comstor has recorded annual gross sales of $5.24 billion for the financial year ended February 28, 2025. This represents a 3.3% growth year over year. Rise in cybersecurity demand and shift toward software and services contributed to the company’s performance. Gross profit rose 9.4% to $441 million, with consistent gains reported across its three core regions of Europe, the Middle East and Africa (MEA), and Asia-Pacific (APAC). Gross margin climbed to 22.4%, up from 18.2% the year before, based on revenue of $1.97 billion. Adjusted EBITDA rose nearly 25% year-on-year to reach $149.9 million. The corresponding EBITDA margin…

The Connected Africa Summit 2025 officially kicked off on Monday in Diani. The summit has registered over 1,200 delegates from 24 countries. This year’s summit comes with added weight: it marks the first major follow-up to the Nairobi Declaration, the policy framework adopted during last year’s conference. From the outset, speakers made it clear—the time for declarations has passed. Now it’s about execution. “This is the second time we are converging at a continental level. The Connected Africa Summit has kicked off in a big way,” said Stanley Kamanguya, CEO of Kenya’s ICT Authority, during his opening address. “This year,…

Absa Bank Kenya has reported a 4% rise in net earnings to Ksh 6.2 billion for the quarter ending March 31, 2025.  While total revenues declined by 4% year-on-year to Ksh 15.8 billion, dragged down by an 11% drop in non-funded income and a marginal slip in funded income, Absa’s credit performance and strong balance sheet management helped cushion the impact. The bank’s total loans and advances reached Ksh 308 billion and customer deposits grew by 5% to Ksh 371 billion. CEO Abdi Mohamed described the performance as a testament to Absa’s future-oriented strategy and its commitment to enabling customers’…

Servercore has announced the promotion of Victoria Kleinbort to Head of Business Development. She was previously the Country Manager for Kenya.  She joined Servercore in 2022 as Kenya’s Country Manager. In this role, she helped shape the company’s local and regional playbook. As Head of Business Development, Kleinbort will lead commercial operations in high-potential markets. She will also be responsible for identifying new growth opportunities and strengthening existing partnerships. Before joining Servercore, she was a tech entrepreneur, building B2B-Export.com, a platform connecting suppliers from Africa, Latin America, Indonesia, and the CIS region. She has over 12 years in product development…