Del Monte Kenya reaches amicable settlement with Competition Watchdog

Del Monte is contributing to achieving the Big Four Agenda, with its local cultivation, agro-processing, and value addition supporting manufacturing and food security in the country. Food processor Del Monte Kenya has reached an amicable settlement with Competition Authority of Kenya (CAK), after voluntarily amending a missing wording on the packaging of one of its products. The Thika based company in a statement, said that it had amended the wording on its packaging long before the Competition watchdog initiated their investigation, and this position was acknowledged by both parties leading…

REPORT: 83% of Kenyans are happy with mobile loan apps

Microloans are small loans offered to people over a shorter period of time, typically without providing any form of security for the lender and often without requiring a credit history from the recipient. They are very similar to credit cards, but are more widely available, especially in markets where a majority of the population is underbanked. People in such markets often don’t have bank accounts or the ability to get a credit card. In recent years, the growth of the internet and easier access to smartphones have been great for…

Co-operative bank to sponsor about 655 needy students

By Dennis Muritu Co-operative bank will this year sponsor about 655 needy students from across the country through its scholarship program. This is after the lender’s board of directors announced the selection of the beneficiaries of this year’s Co-operative Bank Foundation Scholarship Scheme. Of the 655 new scholarships to Form One students, 420 were identified by the bank’s Regional Delegates’ Forums and the remaining 235 scholarships, at 5 per county,awarded by County Governments in all the 47 counties, the bank’s Group Managing Director & CEO Dr. Gideon Muriuki said. “Our…

IPM intensifies trustee trainings on pension management

IPM Executive Director James Wanyama,CIC Pension Scheme Trustee Peter Abande &Makerere Univ Scheme Chair Audit &Risk committee David Ssenoga during the Audit,Risk &Compliance workshop in Kisumu   The Institute of Pension Management (IPM) has intensified its trainings on pension management with an aim of enhancing accountability and effectiveness of pension scheme trustees and ultimately boost market confidence on pension. These workshops are informedby the exponential growth of pension funds over the last decade. With only 20% coverage of pension in the country and over 1200 pension schemes registered under the Retirements Benefits…

Co-op Bank named Best Bank in Kenya at EMEA Finance Awards 2019 in London

From left:The Publisher and CEO EMEA Finance Christopher Moore grants the Best Bank in Kenya 2019 Award to Co-op Bank Economist Anthony Muli and Head of Investor Relations and Strategy James Kaburu at the EMEA Awards gala held recently at the Law Society, in London.PHOTO:COURTESY. By Dennis Muritu The Co-operative Bank has been named Best Bank in Kenya 2019 at this year’s Europe, Middle East and Africa (EMEA) Finance Awards. The EMEA Finance Awards recognise financial institutions which, through their client focus and sound leadership, continue to increase profitability, deliver affordable credit to the…

OKash wins best mobile loan platform of at the 3rd Digital Tech Excellence Awards

 OKash, one of the popular microlending applications in Kenya, has won the award for best Mobile Loan Platform of 2019 at the 3rd Digital Tech Excellence Awards in Kenya.  The award recognizes the outstanding positive impact the microlending app has had on the everyday life of its users in Kenya.  OKash is an innovative mobile microlending application that enables easy, fast and secure access to short term loans. The app-based service utilizes artificial intelligence (AI) technology to analyze the purpose of the loan as well as the repayment behavior of…

DIGITAL PENSION PLAN MOBIKEZA, PROPEL OCTAGON AMONG TOP 100 SMEs

Octagon Pension Services Limited has once again scooped the Top 100 SME award two years in a row. Kenya Top 100 mid-sized companies seek to identify Kenya’s fastest-growing medium-sized companies in order to showcase business success excellence and highlight the country’s most successful entrepreneurship stories. “We are humbled to be recognised in the Top 100 SME Awards among medium-sized companies. We are glad that our effort to leverage technology to drive efficiency and increase uptake of pension within Kenya, and the region is bearing fruits,” said Octagon Pension Services Limited CEO…

Net interests growth push Family Bank earnings to Ksh. 1.01 B

Family Bank CEO Rebecca Mbithi  speaking during the investor briefing    Family Bank has recorded a Sh1.01 billion profit before tax in the nine months of 2019, registering a remarkable 274% growth in earnings compared to the same period in 2018. Higher loan uptake, steady growth in customer deposits and growth in operating income are the key drivers of the bank’s profitability and the same continue on an upward trajectory. The performance, covering the period up to end of September 2019, is an improvement from the Sh269.9 million posted in…

ESET setting standards in Cyber security awareness

ESET, a global IT security solutions firm with over 110 million users in 202 countries and territories is drawing your attention to the changing trends in the use of technology, where most Kenyans are always online. ESET’s Brand Ambassador Dr. Bright Gameli Mawudor, the Founder of the Cyber Security collective Africahackon,  while holding a media deliberations meeting  recently in Nairobi said devices such as personal mobile phones, tablets and laptops said they have inevitably found themselves connected to company networks through WIFI internet connections. He also said what many do…

DIB Bank in a 4.3 b expansion strategy into the Kenyan market

Kamukunji MP Yusuf Hassan Abdi cuts the ribbon to officially open the DIB Bank Kenya Eastliegh Branch. Looking on are the DIB Bank Kenya Board Director Michael Murphy and CEO Peter Makau.   Dubai Islamic Bank (DIB) is investing 4.3 billion for expansion in their business in Kenya. This comes after the bank registered a 665 million loss in their first year of operation in the country. DIB Bank Kenya, which offers exclusively Shariah Banking services, launched a new branch in Eastleigh as the bank starts to implement an expansion…