SBM Bank Signs Guarantee With African Guarantee Fund To Finance MSMEs And Women-Led Enterprises

SBM Bank Kenya has today sealed a risk-sharing agreement with the African Guarantee Fund (AGF) amounting to USD 10,000,000, to increase its financing of Micro, Small and Medium-sized Enterprises (MSMEs).   The facility unlocks opportunities for the MSMEs together with transactions in the green space and women-led enterprises to access credit on favourable terms, mitigating the challenges they experience in scaling up their businesses and increasing their contribution to wealth creation and job opportunities.   Speaking during the signing ceremony, SBM Bank Kenya Limited CEO, Moezz Mir said, “Considering the…

Retailers move to strengthen fresh food safety, cut Ksh 72 billion losses and wastage

Kenya’s formal retailers have committed to heighten the quality of fresh foods sold across their outlets countrywide as they ramp up efforts to reduce food waste and loss. With Kenya losing 5.2 million tons annually to food waste and each individual throwing away nearly 100 kilograms of food every year, all estimated at Ksh 72 billion, the situation is dire. Under the umbrella Retail Trade Association of Kenya (RETRAK), the players have moved to strengthen the requisition, handling, storage and display processes, facilities and resources using a mix of better…

Blueband’s Healthy Breakfast Campaign

At least 2 million children across 4,800 schools in Western and Central regions have benefitted from Blue Band Nutrition Education Campaign aimed at promoting healthy living. The campaign is part of Blue Band’s journey and commitment towards growing healthy and happy kids by equipping 100 million school going children in Africa and Asia with education on the importance of a nutritious breakfast. The United Nations Children’s Fund (UNICEF) estimates that 2million children under the age of five in Kenya are stunted, the most frequent form of under-nutrition. “As a food…

Government Fingered for Non-Disclosure on How Sh465B IMF Loan Was Used

The Institute of Public Finance (IPF Kenya) now wants the government to develop a clear legal framework that will make it easier for oversight bodies to track performance of public funds. IPF says oversight institutions including Parliament and the Office of the Auditor General should be able to hold the government to account and to entrench transparency and accountability in Special Drawing Right (SDR) use in line with the Constitution of Kenya. A Special Drawing Right (SDR) is an interest- bearing international reserve asset created by the IMF to provide…

EV Manufactuer Looking to Raise $1 Billion in Capital from African Market

  The African pioneer of Artificial Intelligence and green revolution Agilitee Limited is raising about $2 billion as part of its Johannesburg initial public offering (IPO). The Company will raise $500 million in Africa, $500 million between UAE, UK, Europe and Asia. It has also been approached by a US based institutional investor who is promising $1 billion for 5% equity in Agilitee. This is a Pre-IPO capital raising as the company decided to start the capital raising while its advisors are still working on the prospectus. The company is…

Strathmore University and Adrian Kenya Collaborate to Enhance Capacity Building In Renewable Energy Solutions

Strathmore University, through its Energy Research Centre, and Adrian Kenya have today signed a Memorandum of Understanding (MoU) with the aim of enhancing capacity building in the areas of Solar Energy Certification, strengthening leadership capabilities, and provision of expert services in renewable energy solutions. Senior management members from both institutions were present, led by Prof. Izael Da Silva, Strathmore University’s Deputy Vice Chancellor for Research and Innovation, and Mr. Benard W. Njoroge, Adrian Group’s Group Managing Director. Adrian Kenya is leading in the development of solar PV solutions in East…

Ecobank Kenya Launches Ellevate Programme To Empower Women-Led Businesses

Ecobank Kenya Limited,  has launched its flagship Women’s Programme ‘Ellevate’ to empower and support women-led and women focused with the financial and value-added solutions that will help their businesses reach their full potential and succeed. Small and medium-sized enterprises (SMEs) account for about 90% of all businesses in Africa and women own about a third of all registered African SMEs. Indeed, one-in-four (25.9%) of adult women in Africa start or manage a business. However, women have not enjoyed equal access to high quality, demand driven financial services and it is…

Dimension Data’s Parent Company, NTT Unveils Sustainability as a Service to Help Organizations Achieve Net-Zero Goals

 Dimension Data’s parent company NTT Ltd. has announced its full-stack Net-Zero Action offering at this year’s Mobile World Congress (MWC) in Las Vegas, Nevada. This climate-focused solution leverages NTT’s vast infrastructure and services capabilities to help clients reduce the environmental impact of business activities. Climate initiatives are top of mind as organizations work to increase sustainability initiatives that will help them achieve net-zero goals and make data-driven decisions to reduce their carbon footprint. This innovative offering will help customers achieve better economic performance through enhanced climate action including measuring, monitoring, and reporting impact, proactively…

valU Partners with Heliopolis Sporting Club to Offer Payment Solutions for New Club Members

valU, MENA’s leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, announced today that it has successfully signed a partnership with Heliopolis Sporting Club to offer convenient and affordable financing and payment solutions on new memberships for Heliopolis Sporting Club El Shorouk City branch as well as club services. The partnership will see valU become Heliopolis Sporting Club’s BNPL platform of choice to support it in providing seamless financing solutions. This strategic partnership is testament to valU’s commitment to delivering on its vision of becoming a holistic financing powerhouse with progressive and convenient solutions…

Safaricom, NCBA and KCB Restructure Fuliza With Free Daily Fee

Safaricom (NSE: SCOM), NCBA (NSE:NCBA) and KCB Bank Kenya (NSE:KCB) have today announced a restructuring of the popular Fuliza overdraft facility in a move that will see customers transacting on Fuliza access the overdraft facility at a free daily maintenance fee for the first three days for transactions of KSh. 1,000 and below. The move benefits more than 80% of M-Pesa customers who seek to complete their payment transactions with Fuliza credit.   Customers that borrow above KES 1,000 will also enjoy 10 – 20% discount on their Daily Maintenance Fee.   The one-off Access fee, levied when customers access Fuliza remains unchanged at 1%, establishing Fuliza as the most accessible and affordable credit facility in the country.   The new discounted rates will be effective on October 1, 2022.   “In line with our purpose of transforming lives and in the spirit of Tuinuane, we have introduced a free daily maintenance fee period for Fuliza transactions of KSh.…