Author: Kaluka wanjala

KCB has announced the acquisition of 75% stake in Riverbank Solutions, a Nairobi-based FinTech company. This will help the bank strengthen its regional distribution network. The deal amount has not been revealed and the transaction is still awaiting regulatory approval by the Central Bank of Kenya.  Once the transaction is completed, Riverbank will become a subsidiary of KCB Group Plc.   In a statement, KCB said the deal will boost its digital capabilities by bringing on board Riverbank’s footprint in banking agency, social payments and business solutions. Riverbank has a presence in Kenya, Uganda and Rwanda. This acquisition will help KCB…

The Visa Stay Secure Study 2025 was released recently and revealed a rise in consumer awareness and proactive security measures for digital payments across Central and Eastern Europe, the Middle East, and Africa (CEMEA). The ninth annual Stay Secure study, which surveyed 5,800 adults across 17 diverse CEMEA markets, found that 97% of consumers now actively take precautions to secure their online transactions, showcasing increased savviness as digital payments gain momentum. While 71% of respondents in Kenya acknowledge their vulnerability to scams like phishing, the increased adoption of security measures and preference for stronger authentication indicate a positive shift in consumer behavior since the last edition…

Last week, the Safaricom Spark Accelerator Program held an investor demo day where 9 startups from the inaugural cohort showcased their achievements while fostering connections with prospective investors.  The Investor Day is the final phase of the accelerator program and is aimed at enabling the startups raise funding from VCs. “At Safaricom, we believe technology is a catalyst for change and solutions, and that’s why we incentivize and support innovative start-ups with the tools they need to reach the next level. With the Spark accelerator program, we are investing in our future leaders while contributing to significant societal change and…

Kenya’s insurance industry has long seen low adoption numbers of around 2.3%. Many Kenyans either don’t see the need for insurance or see it as being too expensive and complicated to access. But Safaricom, through its financial services arm, is looking to change that narrative. At the recent Safaricom Decode 3.0 event, Chief Financial Services Officer Esther Waititu revealed how the company is using technology and strategic partnerships to enable insurance accessibility. Through Safaricom Insurance Agency Limited (SIAL), the telco has partnered with multiple providers to create tailored solutions. So far, these efforts have resulted in over 117,000 policies issued.…

At the recently concluded Safaricom Decode 3.0, the company’s Director of Network, Antony Gacanja, said there is need for businesses to modernize their data infrastructure. At the event, Gacanja highlighted how multi-cloud environments, edge computing, and AI-driven automation are helping organizations reshape how they manage and store data. “The question is no longer if we should modernize, but how fast we can adapt to ensure scalability, security, and efficiency,” he said. Safaricom is positioning itself at the centre of cloud transformation, not just for its operations but also to empower businesses and communities across East Africa. Gacanja said the company…

Three Jomo Kenyatta University of Agriculture and Technology (JKUAT) students have been selected to represent Kenya at the Global Huawei ICT Competition that will bring together tech talent from around the world in Shenzhen, China, in May 18–25, 2025. The three are: Ephraim Shikanga, a third-year Computer Science student, describes his participation in the competition as a game-changer in his tech journey. He says he has gained invaluable skills in programming, database, and processor architectures through training with Huawei experts. For Banzy Nyaga, a third-year Mathematics and Computer Science student, the competition has been a rewarding journey, equipping her with…

The London Internet Exchange (LINX) has completed the expansion of the Nairobi network to PAIX in Nairobi. LINX Nairobi is a neutral, multi-site Internet Exchange Point (IXP) that was launched from three data centre locations in Nairobi in November 2023. It is designed to carry the region into the next digital era of keeping traffic local. LINX says it extended the network fabric to now include PAIX Nairobi following a demand from the local networking community. “We are thrilled to partner with LINX to bring their globally recognised interconnection fabric to our Nairobi facility. This extension underscores PAIX’s commitment to…

Kenya is stepping up efforts to flight document forgery by adopting a digital verification system. The country is doing this in partnership with India. According to Hon. William Kabogo the Cabinet Secretary, Ministry of Information, Communications and the Digital Economy (MICDE), his ministry is working on a platform that will allow real-time authentication of certificates and official documents. This should help do away with manual verifications. On Wednesday, a delegation from from India, led by Anish Kumar, Advisor to India’s Ministry of External Affairs, met with Kenyan officials to discuss how Kenya can implement a system similar to India’s ‘DigiLocker.’…

Absa Bank Kenya has announced net earnings of 20.9 billion for the year ended 31 December 2024, a 28% jump year over year. The bank also declared a total dividend of Ksh 9.5 billion which translates to Ksh 1.75 per ordinary share. This is represents a 13% increase from the previous year. During the review period, Absa focused on supporting its customers to navigate economic shifts and capitalise on growth opportunities by improving access to financing and strengthening support for critical sectors. The Bank’s customer loans and advances closed at Kshs. 309 billion. The bank expanded financial access in notable…

Standard Chartered Bank Kenya is taking an industry-specific approach when it comes to supporting local startups. It focuses on women-led businesses operating in the tech space. During the bank’s 2024 financial results announcement, CEO Kariuki Ngari revealed how the bank is working with startups by balancing risk management with more impactuful support. Ngari said that startups can be unpredictable and generally have a high risk of failure. This makes it necessary for the bank to be selective in how it supports them. Rather than applying a blanket policy, Standard Chartered evaluates startups based on the industry they operate in and…