Author: Kaluka wanjala

Family Bank Profit after tax surged by 38% from KES 2.5 billion to close at Kes 3.4 billion in the year 2024. Profit Before Tax closed at KES 3.9 billion representing an impressive 22.5% growth from KES 3.1 billion recorded in 2023.  The remarkable performance was driven by robust and sustainable revenue growth, a strong capital base and liquidity position and cost and operational efficiency. Total revenue grew by 12.5% to KES 15.0 billion. This was supported by a 28.8% surge in total interest income to KES 20.3 billion, fueled by a 20.5% rise in earnings from loans and advances and a 62.1%…

Safaricom has launched the Emerald Platform, a premium customer engagement platform designed to offer personalized services, exclusive rewards, and elevated care. The platform is exclusive and tailored to provide top-tier customers with unmatched benefits across Safaricom’s key products and services, including enhanced roaming services, E-SIM technology, seamless payments, and post pay plans. Customers will also gain access to invitations to high-profile networking and lifestyle events. This initiative aligns with Safaricom’s commitment to customer obsession and its undertaking to deliver tailored experiences that create meaningful connections with customers. Speaking at the launch event, Dr. Peter Ndegwa, CBS, CEO of Safaricom, emphasized the…

Joy Vipinchandra Bhatt of Moore JVB Consulting has been appointed to oversee the operations of Lipa Later Limited, a digital consumer credit provider. In a notice by Moore JVB, Bhatt has assumed control of Lipa Later’s business, assets and management affairs on March 24, 2025. This means that all matters related to the company should be directed to him or other authorized representatives. The notice read in part, “Pursuant to Section 563 (2) (b) of the Insolvency Act 2015 of Kenya, notice is hereby given that effective 24th March 2025, Joy Vipinchandra Bhatt of Moore JVB Consulting LLP has been…

Last week, Ericsson took part in Safaricom Decode 3.0 that was held between the 18th and 20th March, 2025 in Nairobi, Kenya. Safaricom Decode is an annual technology and innovation forum that brings together developers, engineers, and tech enthusiasts to explore emerging trends and cutting-edge solutions shaping the future of Kenya’s digital ecosystem.  At the forum, Ericsson’s decades of technological expertise in areas like 5G, Internet of Things, and Artificial Intelligence (AI)-driven automation was highlighted through thought leadership, valuable collaboration and elaborate discussions at its booth. See: Safaricom Calls for Faster Cloud Adoption at Decode 3.0 Dr Peter Ndegwa, Safaricom…

Vertiv has announced the launch ofVertiv Unify, a unified control platform designed to simplify, standardise, and streamline data centre operations by integrating visibility, management, and reporting of critical power and thermal infrastructure while providing scalability and flexibility. As the only leading provider of the full suite of power train and thermal chain equipment, Vertiv now enables seamless integration and coordination across systems through Vertiv Unify. As AI-driven workloads and hyperscale data centres expand, operators face growing challenges in maintaining efficiency across power and thermal infrastructure. The Vertiv Unify consolidated management platform provides convenient monitoring, management, and control of critical digital infrastructure for…

dLocal has enabled Airtel Money as a payment method for Google Play in Kenya. Airtel Mobile Money has played a transformative role in Kenya, contributing to one of the highest mobile money penetration rates globally. With over 31.5 million mobile money accounts, representing nearly 80% of the adult population, Airtel is a key enabler of financial inclusion in Kenya and across Africa. By enabling Airtel Mobile Money as a payment method, dLocal is supporting Google to provide a localized solution that meets the needs of users in Kenya. This reinforces Google’s commitment to expanding digital accessibility, ensuring that a much…

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.…