Kenyans have spent Sh169.1-billion ($1.5-billion) betting through Safaricom's M-Pesa in the year to March. According to Business Daily, disclosures show that the value of bets jumped 23.8 percent from Sh136-billion ($1.2-billion) a year earlier. The Kenyan government is trying to crack down on gambling by imposing higher taxes both on the...
Three Kenyan firms have been listed among the 100 global top tech pioneers in the World Economic Forum (WEF) Technology Pioneers 2022. Sendy is featured for its role in building fulfillment infrastructure for e-commerce and consumer brands while Access Afya has been recognised for offering high-quality healthcare for the global...
vivo Smartphone and Safaricom PLC have partnered to list the new Y15s flagship in Safaricom as it seeks to increase its footprint in the Kenyan market. The new partnership will see vivo’s latest products sold in Safaricom outlets and its online platform Masoko starting with the vivo Y15s, vivo Y21,...
A former content moderator filed a lawsuit on Tuesday over alleged poor working conditions for contracted content moderators in Kenya. According to Business Daily, the petition, also filed against Meta's local outsourcing company Sama, alleges that workers moderating Facebook posts in Kenya have been subjected to unreasonable working conditions including...
Kenya Power will pay an amount of Sh140-million ($1.2-million) in legal fees linked to the renegotiation of power purchase agreements (PPAs) signed with electricity-generating companies. According to Business Daily, the electricity distributor revealed the award of the legal tender to two firms in regulatory disclosures. A joint venture comprising British...
Absa Kenya has reportedly recovered 14 vehicles that were seized from Italian firm CMC Di Ravenna which was to construct the controversial Itare Dam in Nakuru, Kenya. Absa took the vehicles from a Kenya-based subcontractor Benisa Limited which had earlier seized them from its client CMC. According to Business Daily, Absa...
Uber has asked the High Court to refer to arbitration a dispute in which some Kenyan drivers sued the ride-hailing platform over the reduction of fares by almost half. The Kenyan drivers sued the ride-hailing company in 2016 after it dropped ride charges on the platform because of mounting competition...
Safaricom, a Kenyan telecommunications service provider, has hired the managing director of Citibank to be in charge of strategy and acquisitions. The telco is currently seeking regulatory approvals to launch insurance, unit trust, and savings products in an endeavour to compete with larger financial services and expand its mobile money...
Netflix, an American subscription streaming service and production company, will help produce three movies in Kenya and invest Sh33-million ($284,719.05) to train actors in the country. The US streaming service said that the three productions will be revealed later, close to their premier dates on the platform. The sponsor will...
MozzartBet, a betting company, has returned to court to fight the Kenyan State against the seizure of Sh302-million ($2.6-million) that was declared to have been acquired through alleged crime. According to Business Daily, the company says that the millions are meant to buy software that's meant to upgrade the betting...
Safaricom will start hiding contact details of customers making payments through Lipa na M-Pesa at the end of June to curb trade and leaking of personal information to advertisers and fraudsters. “Pursuant to the Data Protection Act 2019 which came into law on 25th November 2019, Safaricom will be changing...
NALA, a Tanzania based Fintech company, has teamed up with Kenya's Cellulant, a Pan-African Payments Company, to oversee and allow remittance payments from the United Kingdom and the United States into Kenya, Uganda, Rwanda, Tanzania and Ghana for customers. Besides Official Direct Assistance (ODA), remittances make up the second-largest source...
KenGen, a Kenyan electricity generating company, has completed a drilling project of seven geothermal wells in Ethiopia -- four of which are at the Aluto-Langano site and three of which are at Tule Moye. KenGen won an Sh7.6-billion ($65.6-million) worth joint contract with Kerui Petroleum Equipment Company and Shandong Kerui...
Ethiopia has reportedly started changing certain national payments laws in an effort to clear the way for Safaricom to launch M-PESA, Africa's largest fintech platform, to the Horn of Africa country's virtually untapped market of 110-million people. The National Bank of Ethiopia (NBE) has drafted a bill that will allow...
The Central Bank of Kenya (CBK) has reportedly ordered commercial banks to ration dollars after a shortage in the US currency. Banks have already started imposing these rations. A number of currency traders and importers say they have imposed a daily cap on dollar purchases as firms struggle to obtain...
Kenya Airways planes were grounded amid disagreements about lease fees with two leasing firms. The two lessors were opposed to Kenya Airways' new payment terms. As a result, the lessors grounded their planes at Jomo Kenyatta International Airport (JKIA) in Nairobi, according to Business Daily. The other six leasing firms have,...
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