CIC Insurance Group has delivered an impressive financial performance for the year ending December 2024, reporting a Profit Before Tax (PBT) of Kshs 3.99 billion, a 57% increase from Kshs 2.54 billion recorded in 2023. This remarkable growth was primarily driven by increased insurance revenue and exceptional investment returns, which surged 201% from Kshs 2.9 billion in 2023 to Kshs 8.8 billion in 2024. Key Highlights of CIC Insurance Group’s 2024 Performance Kenya Subsidiaries Performance General Insurance Business CIC Life Assurance CIC Asset Management Regional Subsidiaries Performance CIC’s regional subsidiaries contributed significantly, accounting for 16% of PBT and 14% of…
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Brand Spot
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Red Hat has announced new capabilities and enhancements for Red Hat Developer Hub, Red Hat’s enterprise-grade internal developer portal based on the Backstage project. The new features, delivered with the general availability of Red Hat Developer Hub 1.5, are designed to accelerate adoption across organisations and deliver a more customised experience to further increase developer productivity and efficiency. Organisations are placing increased importance around delivering better customer experiences through intelligent applications, including AI-enabled applications and edge applications — however, these applications can be complex and time consuming to develop. As organisations prepare their infrastructure and tools for an AI-focused future,…
GardaWorld Security, a global champion and leader in security services, today announced that KK Security Ltd (“KK Security”) is rebranding to GardaWorld Security – Africa in Kenya. Following GardaWorld Security’s acquisition of KK Security in 2016, this rebranding aligns operations in Kenya with GardaWorld Security’s global brand, which has an extensive footprint spanning Africa, as well as North America, Europe and the Middle East. The rebrand comes at a pivotal time for Kenya’s security sector, which has a potential guard force of over 800,000 personnel across the country. With more than 2,500 registered private security firms operating nationwide, GardaWorld is…
Safaricom and Showmax Kenya are set to host the Second Edition of the Safaricom-Showmax Football tournament at Goal-Hub Turf in Kitengela. 32 teams including KBC, Royal Media Team, Cape media FC, Team bloggers and Media Max will be competing for the cash prizes. The inaugural edition of the tournament held at Kahawa Wendani Turf saw Bard City FC emerge as champions. We are partnering with showmax to bring the Football Challenge to our customers in the neighbourhoods. Through these 5-a-side tournaments, we are not just playing football and awarding the winning teams but also engaging with our customers through activities…
Under the theme “AI and Africa’s Demographic Dividend: Reimagining Economic Opportunities for Africa’s Workforce,” the inaugural Global AI Summit on Africa will be held in Kigali, Rwanda from 3 – 4 April 2025. Home to the youngest and fastest-growing workforce, Africa is poised to play a consequential role in shaping the global AI ecosystem. The summit will convene world leaders from governments, businesses, academia, and civil society, to accelerate AI innovation, mobilize investment, and promote strategic policy alignment to bolster Africa’s AI capabilities for competitiveness and inclusive growth. During the two-day convening, participants will have exclusive access to: Discussions will surface insights…
Syntura has expanded its footprint in East Africa with the inauguration of the Syntura Experience Centre—the region’s first hub dedicated to collaboration, security, and AI-powered solutions. This state-of-the-art facility offers businesses the opportunity to explore and implement cutting-edge technologies to enhance their operations. The Syntura Experience Centre is designed to showcase advancements in workplace collaboration, artificial intelligence, and enterprise security. Featuring Microsoft’s AI Co-pilot, Teams Voice, and advanced security solutions, the centre provides an immersive environment for businesses to experience how seamless communication, advanced security, and AI-enhanced tools can transform their operations. Serving as a platform for enterprises across various…
LG Electronics has today launched its new range of Built-in Kitchen solutions in Kenya, which include modern appliances such as hobs, hoods, ovens, and microwaves, all designed to meet the evolving needs of Kenyan households The LG Built-in Kitchen launch comes at a time when Kenya’s home appliance market is experiencing significant growth. According to recent research, a growing number of households are investing in modern and durable kitchen solutions. In addition, there is a notable shift toward smart home technologies, as consumers seek appliances that offer both advanced features and enhanced convenience. This trend has created a strong demand…
Red Hat has announced the latest updates to Red Hat AI, its portfolio of products and services designed to help accelerate the development and deployment of AI solutions across the hybrid cloud. Red Hat AI provides an enterprise AI platform for model training and inference that delivers increased efficiency, a simplified experience and the flexibility to deploy anywhere across a hybrid cloud environment. Even as businesses look for ways to reduce the costs of deploying large language models (LLMs) at scale to address a growing number of use cases, they are still faced with the challenge of integrating those models…
In a significant milestone for off-grid solar and global efforts to combat climate change, d.light has successfully mitigated 40 million tons of carbon dioxide—equivalent to the total annual emissions of Norway. This achievement emphasizes the crucial role off-grid solar plays in reducing global carbon footprints, particularly in regions where access to clean energy remains a challenge. Since its inception, d.light has provided solar-powered solutions to off-grid communities, benefiting over 190 million people. Its products, including solar home systems, solar inverters, clean cookstoves, and energy-efficient appliances, offer a cleaner and more affordable alternative to kerosene lamps and biomass fuels. These solutions…
Cryptocurrency staking has gained popularity as an alternative to mining, allowing investors to earn passive income by participating in blockchain networks. This guide will help you understand how it works, the benefits, and the steps to get started. What is Cryptocurrency Staking? Staking is the process of locking up a certain amount of cryptocurrency in a blockchain network to support its operations. This typically includes validating transactions, securing the network, and maintaining decentralization. Participants, also called validators, earn staking rewards, usually through additional cryptocurrency. How Staking Works Staking is primarily used in Proof of Stake (PoS) and its variations, such…