Author: Kaluka wanjala

PalmPay has today announced the launch of its USSD code in Nigeria. This service offers Nigerians an additional way to manage their finances without the need for internet connectivity. With the PalmPay USSD code, customers can now perform a wide range of banking transactions by dialing *861# from their mobile phones. PalmPay has been operating in Nigeria since 2019 under a Mobile Money Operator license issued by the CBN. The fintech pioneered a model that provides financial services such as money transfers, bill payments, credit services and savings via a one-stop-shop financial ‘superapp’. Customers without access to smartphones are able…

Liquid Intelligent Technologies has announced the addition of an exciting new cyber security solution to the stable of products offered through its Cyber Security Fusion Centres (CSFC). Aimed at providing customers with a more holistic cyber security proposition, the solution will see features such as asset management, risk remediation, patch management and compliance support incorporated into Liquid’s existing cloud security services. “With the rate at which digital transformation is advancing, companies need to regularly upgrade their cyber security strategies. Cyber-criminals are becoming increasingly sophisticated, and Liquid is constantly investing in innovative solutions aimed at keeping pace with these ever-evolving threats…

Absa Bank Kenya has launched the “Change Your Story” campaign to encourage consumers to use digital channels and card payments. The initiative is part of Absa’s larger initiative to promote financial inclusion and improve user experiences. Additionally, those who will actively transact through these banking solutions stand a chance to be rewarded, underscoring its commitment to customer-centric innovation. The campaign, running up to 31 December 2024, will feature grand prize draws, with three winners each walking away with KES 1 million. Additionally, there will be weekly draws offering shopping, dining, or weekend getaway vouchers throughout the campaign. To participate in the draw,…

Paymob has announced a $22 million Series B extension round – taking the Company’s total Series B funding to $72 million. The funding was led by EBRD Venture Capital with participation from Endeavor Catalyst.Existing investors PayPal Ventures, BII, FMO, A15, Nclude and Helios Digital Ventures participated in the round, reaffirming their endorsement of Paymob’s business model, strategy and leadership in the regional fintech sector. The extension round follows Paymob’s continued profitability in its core market of Egypt having recorded 6x revenue growth since the initial Series B funding in Q2 2022. The Company’s strong financial position, plus its Series B…

The London Internet Exchange (LINX) has announced that they will be extending their African interconnection platform to PAIX Data Centres in Nairobi, to address the rising demand from the local networking community. LINX Nairobi is a neutral, multi-site interconnection fabric providing peering services and more for networks to improve performance, increase redundancy and lower latency. Launched back in November 2023, the new Internet Exchange Point (IXP) is going from strength to strength with a strong community of local Internet Service Providers (ISPs), global content networks and strategic partners already interconnected, and traffic is starting to build. The team at LINX have…

Check Point has published its Global Threat Index for August 2024. The index revealed that ransomware remains a dominant force, with RansomHub sustaining its position as the top ransomware group. This Ransomware-as-a-Service (RaaS) operation has rapidly expanded since its rebranding from Knight ransomware, breaching over 210 victims worldwide. Meanwhile, Meow ransomware has emerged, shifting from encryption to selling stolen data on leak marketplaces. Last month, RansomHub solidified its position as the top ransomware threat, as detailed in a joint advisory from the FBI, CISA, MS-ISAC, and HHS. This RaaS operation has aggressively targeted systems across Windows, macOS, Linux, and especially VMware ESXi…

The Government of Rwanda, Africa50, and the Arab Bank for Economic Development in Africa (BADEA), have officially broken ground on the construction of the 61-hectare smart city development dubbed Kigali Innovation City. This is happening as Kenya’s Konza City is still not completed over a decade since the project started. Rwanda being close to Kenya poses a challenge for Konza as it may find it difficult to attract investors who may see the project as a white elephant and opt to go to Rwanda. KIC will accommodate universities, startup incubators, and accelerators across sectors such as robotics, artificial intelligence, machine…

Liquid Intelligent Technologies has announced the upgrade of its 1,300km fibre route connecting Mombasa to Busia on the Ugandan border, bringing additional multi-terabit capacity and additional resilience to the region.   See: Liquid Intelligent Technologies Launches the first Azure Stack in Uganda This high-speed route and the upgrades to the existing routes between Kenya and Uganda enhance digital connectivity while supporting several other East African countries with greater efficiency and reliable regional connectivity. This expansion allows Liquid to offer 99.99% uptime availability of services between Mombasa and the Uganda border to its customers, further solidifying its role as a leader in…

Visa has awarded Safaricom a payment facilitator certificate, marking a significant milestone in its ongoing partnership with the Telco. This partnership will enhance Safaricom’s merchant ecosystem by diversifying payment acceptance modes through the introduction of card payments that support all card networks via Visa’s CyberSource Payment Gateway. This initiative is part of the continuing multi-year partnership, which began with the successful launch of the M-PESA GlobalPay Virtual Visa Card in June 2022. Through this partnership, Safaricom merchants will have access to and offer a broader range of payment options. Some of the key Highlights of the partnership include: “We are…

By Moses Muthui, Consumer Banking Director, Absa Bank Kenya Back in the early 2000s, paying my university fees meant dressing up and making a trip to the bank to deposit the money in person, and of course, the visit was laced with the greater respect of ‘where money lives.’ Fast forward to today, and the ways of banking have significantly changed, and the future of money is here with us. Modern consumers can effortlessly move money from their bank accounts to mobile wallets using basic or feature phones, while the more affluent transact through their wearable devices. As technology continues…