Survey: 40pc of car insurance policies in Nairobi might be fake

One customer said she had an accident and when she went to claim, she was told that the insurance company did not have her details in their system, despite having paid for the premiums. 40 percent of motor vehicle insurance policies in Nairobi exist only on paper according to research released by insure tech company Bismart. It reveals that a sizeable number of Kenyan drivers could be holding fake car insurance despite having paid for the cover. The research showed that 22 percent of motor vehicle insurance policies could not…

Uber sets IPO in motion, seeks to ‘ignite opportunity’

Uber has filed documents for its much-anticipated public share offering expected to be the largest in the tech sector in years, and a bellwether for other venture-backed startups eyeing Wall Street listing. The filing with the Securities and Exchange Commission contained no specific pricing or timing for the market debut for Uber, which according to media reports was expected to raise some $10 billion. Uber’s valuation in its latest private investment round was more than $70 billion, but reports said the ride-hailing giant was likely to seek a market value…

Co-op Bank to offer up to 95% financing for purchase of Isuzu vehicles’

By Amos Mburu Through asset financing, Cooperative Bank of Kenya and local vehicle assembler Isuzu East Africa (Isuzu EA) has agreed to work together with business community to accelerate economic growth. In the partnership, Isuzu customers are set to enjoy Ksh 300,000 working capital to empower their business payable in 12 months, a 60-day repayment holiday that will allow SMEs to generate monthly installments, the lowest market negotiation fee of one per cent and the longest re-payment period of 60 months in the market. Also read:Co-op Bank Leasing firm awarded…

Co-operative Bank, Isuzu East Africa partner to address SMEs’ challenge

By Amos Mburu Through asset financing, Cooperative Bank of Kenya and local vehicle assembler Isuzu East Africa (Isuzu EA) has agreed to work together with business community to accelerate economic growth. In the partnership, Isuzu customers are set to enjoy Ksh 300,000 working capital to empower their business payable in 12 months, a 60-day repayment holiday that will allow SMEs to generate monthly installments, the lowest market negotiation fee of one per cent and the longest re-payment period of 60 months in the market. Co-operative Bank Director for Retail &…

Co-op Bank Leasing firm awarded Sh 890 million Government fleet deal

By Amos Njau Co-operative bank’s recently-established firm dubbed Co-op Bank Fleet Africa Leasing Limited has been awarded a deal worth Sh890 million by the government. The new venture is joint partnership between the bank and global leasing specialist Super Group based in South Africa which operates locally through a subsidiary known as Fleet Africa Limited. The Sh 890 million maiden transactions is part of larger of Sh2.2 billion deal, entails the financing and delivery of a fleet of 125 vehicles to the Ministry of Interior, the National Police Service and…

Emirates gives Kenyans travelling to Dubai cost cut

Emirates is offering Kenyan travellers the opportunity to visit Dubai, available at a special offer for Economy and Business Class roundtrip, a free third piece of luggage of up to 23 kg and bonus Skyward miles.  Under the special offer, an Economy Class ticket from Nairobi to Dubai costs USD 309 and Business Class USD 1309. The special offer is for a limited time only and tickets must be booked between 24 October and 7 November 2018, while travel must take place between 24 October 2018 and 31 March 2019. The cost of…

Innovative Kenyan entrepreneurs to battle out for 5 million

Total Kenya has announced that entries for the second edition of Startupper of the Year Challenge will include 55 countries up from the previous 34. The competition that that seeks to promote creative ideas and entrepreneurship among young citizens will see 3 winners from each country get an opportunity to make their dream a reality. The 2018/19 Total Startupper Challenge is building on a successful first edition held in 2015/16 that attracted over 800 applicants from 34 countries, 40 of them from Kenya. READ ALSO: Importance of innovation and digitization in…

NEW Power FORMULATION IN SHELL FUELS

Vivo Energy Kenya has launched its new Shell fuels portfolio; Shell V-Power, Shell FuelSave Unleaded and Shell FuelSave Diesel, designed for engine efficiency. The new fuels now have DYNAFLEX technology that has been developed to help clean and protect key components in the engines, designed to work with both modern and older vehicles. Managing Director Vivo Energy Kenya Mr. Joe Muganda emphasised the drive that the organization has to constantly offer customers the very best at Shell Service stations. “We place customers at the heart of everything we do, and…