Author: Kaluka wanjala

The OPPO Reno 12 5G is the latest smartphone from the company to launch in Kenya. The phone has been launched today and is available for ksh 70,000. The OPPO Reno 12 5G is the successor to the Reno 11 that we saw in Kenya earlier this year. This phone builds on the Reno 11 series and promises a better user experience leveraging AI. The phone has a number of AI features that can help with photo editing (erasing objects from your photo). There is also a feature to summarize your audio records into text just to name a few. These…

NCBA Group has posted a profit after tax of Ksh 9.8 billion in its first half of 2024 financial results which is a 5.0 per cent increase compared to Ksh 9.4 billion reported during a similar period in 2023.  Key Highlights Customer deposits closed at Ksh 529 billion, 2.4 per cent up year on year. NCBA demonstrated strong financial fundamentals recording positive operating income  of Ksh 31 billion and a decline in loan impairment charges of 38.3 per cent year on year,  backed by the Group`s five strategic pillars; Become a Distinguished Brand Known for  Customer Experience, Scale Retail Banking,…

I&M Group PLC has increased its Profit Before tax by 24% to Ksh 8.7 billion in first half of 2024, up from Ksh 7.0 billion in the same period in 2023. The Bank reported strong operating revenues across all its markets, with regional businesses accounting for 26% of the Profit Before Tax. Operating income was driven by growth in the corporate and retail segments, which saw increases of 49% and 34% respectively. Key Financial Performance Highlights Balance sheet highlights Income statement highlights I&M Bank Kenya Commenting on the results, Mr. Gul Khan I&M Bank CEO said, “We are pleased to…

Standard Chartered Bank has today released its results for the period ended 30 June 2024. the bank made Ksh 14.5 billion profit before tax for the first half of 2024. Kariuki Ngari, Chief Executive Officer, said, “We delivered a strong set of results for the first half of the year with profit before tax up 50 per cent to KShs 14.5 billion. Our top-line recorded growth of 25 per cent, supported by continued momentum that saw strong growth in Non funded income ( NFI) from increased transactional volumes, as well strong net interest income. Good cost discipline has enabled us…

Moringa School has partnered with CompTIA to offer an 18-week Cyber Security Analyst Course (CySA+). The collaboration kicked off with a masterclass and networking event aimed at equipping cyber security professionals with the skills and knowledge to safeguard their organizations against emerging threats. The event, themed “Future Proofing the Cyber Security Workforce,” was tailored to the needs of CTOs, CISOs, IT managers, educators, policymakers, and industry leaders. It focused on providing the tools and insights necessary to navigate the rapidly evolving digital landscape. As cyber threats grow in sophistication, the need for a highly trained and agile workforce becomes paramount. Participants in…

Absa Bank has announced plans to expand its agency banking network from 600 outlets to over 17,000 outlets in the next 2 years. The bank’s agency network stands at 600 at the moment and will be expanded in two phases. The first phase will expand the network to 3000 outlets. Through this expansion, Absa hopes to expand accessibility to essential financial services for individuals and businesses within their localities. Customers can use the agency network for cash deposits, withdrawals, and other transactions. This is inline with the bank’s long-term goal of financial inclusion. 17,000 outlets is a good start but is…

Datacentrix has been recognised as IT Services Partner of the Year by Huawei, a global provider of ICT infrastructure and smart devices. The award was presented at the recent Huawei Africa Connect 2024 event. Taking place at the Sandton Convention Centre in Johannesburg, Africa Connect featured a number of expert Huawei speakers, a 2,500m2 exhibition space and over 2,000 participants. According to Louis Van den Berg, Business Development Manager at Datacentrix, the company has continued to excel with Huawei locally. “Datacentrix earned the title of IP Services Partner of the Year in 2023 for its prowess on the networking side of the…

Kenya Airways PLC has for the first time reported a profit after tax since 2013. For the first half of the financial year ending June 30, 2024, the airline achieved a profit after tax of Kshs 513 million, from the Kshs 21.7 billion loss reported in the similar previous period. The airline attributes the growth to its strategic turnaround plan, Project Kifaru, which emphasises customer obsession, operational excellence, financial discipline, innovation, and sustainability. “The impressive performance reaffirms the operational viability of our business and underscores the effectiveness of the collective efforts by our board, management, and staff,”said Kenya Airways Chairman, Michael…

Uber has finally bowed to pressure and agreed to raise ride charges in Kenya by 10%. The ride hailing app confirmed this yesterday saying the price changes will apply to all its products.  Over the past few weeks, taxi drivers using apps like Uber and Bolt have been complaining saying most of the rates these apps charge are just too low. They claim that the high cost of living and high commission taken by the apps may put them out of business. Some drivers have even been demanding more money from the riders from what is indicated on the app. …

 Binance has announced that from January to July 2024, it prevented over $2.4 billion in losses from potential scams and fraudulent activities that could have impacted more than 1.2 million users. This achievement is the result of Binance’s comprehensive risk management measures, which help to effectively detect and flag suspicious transactions across the platform. Binance employs a sophisticated internal risk engine that conducts real-time monitoring on a 24/7 basis, leveraging a hybrid of artificial intelligence (AI)-based and manual review. This allows the Binance team to dynamically and precisely detect suspicious transactions and take action to protect users quickly. The risk engine operates across…