SBM Bank Posts 30% Growth in Net Loans and Advances

SBM Bank Kenya Limited’s net loans and advances increased year on year by 30% from KShs. 27.9 Billion in Q3’2021 to KShs. 36.3 Billion in Q3’2022 supported by increased lending to its customers. The Bank reported a Total Asset position of Kshs. 82.3 Billion as of 30 September 2022, a 1.7% increase compared to the KShs. 80.9 Billion reported in a similar period last year. The customer deposit balances increased by 2.2% from KShs. 54.3 Billion in Q3’2021 to KShs. 55.5 Billion in Q3’2022 supported by growth in the customer base…

Agilitee to Open Three Franchise Outlets in December

GREENTECH Giant Agilitee is starting the roll out of its Franchise Dealerships known as Agilitee XPress which sell electric scooters and electric cars. The Green Revolution Pioneer is opening the dealership on the first of December 2022 in Cape Town and the store will also house the battery swapping infrastructure for electric two and three wheelers and the charging station for all electric vehicle brands. Agilitee will install both the swapping station for electric scooters and the charging station for cars at  the dealership. The charging system is Agilitee first…

EAST AFRICA’S Top Firms To Be Honoured In Kampala In A Key International Leadership Awards

Leading firms in East Africa are set to be honored in a major international SMEs and Mid-sized firms international award dubbed Pacesetters Awards which comes after the feting of notable firms in East Africa. This year’s regional awards ceremony shall be held at Serena Hotel Kampala Uganda.  It will bring together firms from 10 countries in the Eastern African region including top SMEs and mid-sized top institutions from Uganda, Kenya and Tanzania among other Eastern African countries.  Pacesetters Award (PSA) is an annual Industry leadership Recognition program organized by Jubilant…

OPPO Unveils Challenge to Reward Footballing Talent In Kenya

In partnership with local football star David “Chehe” Ochieng, world-leading smart device brand OPPO has  launched  the #OPPOGameTime Challenge that will see Kenyan fans bring out their best football skills. The Reno8 football challenge will see the top three contestants walk away with Ksh50,000 for the winner, Ksh30,000 for the 1st runners-up and Ksh10,000 for the 2nd runners-up. Rules are simple – fans need to record a short video showing off their unique football skills. Once done, users will need to follow @OPPO Kenya  Instagram page and/or Facebook page, post…

EABL set to reduce its carbon emissions by 95 percent annually

East African Breweries PLC (EABL) will reduce its carbon emissions by 95 percent annually as a result of Ksh. 5.1 billion renewable energy investments in its plants in Kenya and Uganda, the company has reported. The investment in biomass plants will replace heavy fuel oils used at the company’s sites in Ruaraka, Kisumu in Kenya and Port Bell in Kampala and will be powered by sustainable raw materials such as macadamia shells, coffee and rice husks and sugarcane bagasse. The shift will cut its carbon emissions by 42,000 tonnes per…

Mogo, Platinum And Premier Credit Exposed: How a Sh16,000 Loan Accumulated Into Sh250,000 With Unexplained Interests

In 2017, John Mwangi had a medical emergency, his brother had been admitted to hospital. Broke and desperate, a friend referred him to Platinum Credit, a micro-finance that offers instant loan with motor vehicles acting as security, now a simple loan of Sh 16,000 has morphed up into Sh 250,000 with unexplained interests even after completing his payment last year on June. ‘’I wonder how they do their computation on principal amount and interests.Now my motor vehicle has been auctioned that I had offered as the security.Platinum Credit motive is…

Huawei joins alliance to connect 120 million rural people

Huawei has joined a global digital alliance led by the International Telecommunication Union to bring more than 120 million people living in unconnected rural areas to the Internet. Known as Partner2Connect, the international digital alliance aims to deliver digital connectivity to more than 80 countries by 2025. It is designed to extend quality coverage to remote areas, enabling more people, community hospitals, schools, local governments, and small- and medium-sized enterprises to enjoy the same high-speed broadband connectivity experiences as those in cities. Huawei will deploy its RuralStar series solutions that…

KCB Puts in KShs. 130M for Drought Response

KCB Bank Kenya has committed KShs.130 million to support the country’s drought response initiative, providing food and essentials to thousands of households. The support will go towards augmenting government efforts in cushioning households hard hit by the ravaging drought and who now require an urgent supply of foodstuff and water. The funds will be channeled through the Kenya Bankers Association-led drought response (KShs.100 million) while the rest will be through the KCB Foundation, the social investment arm. The bank through the Foundation has already distributed food to various ASAL counties…

Property Developer Unveils Warehouses And Storage Facility To Ease Manufacturers And Businesses Inventory Headaches

Businesses and manufacturers across East Africa are set to benefit from various warehouses and dry storage to be unveiled regionally by Myspace Properties Limited, in what economists termed as a sharing economy. The model dubbed ‘space share’ will ease manufacturers’ logistics headaches since they don’t need to own warehouses and storage and therefore not incur the cost of building and even renting the entire space that they are not using. Businesses will only be required to pay for the space they are using as they share the other space with…

Mercy Corps AgriFin Hosts its 6th Annual Learning Event to Discuss the Development of Smallholder Farmers Resilience in the Face of Emerging Global Issues

Over 400 participants from around the world gathered for Mercy Corps Agrifin's 6th Annual Learning Event to address how smallholder farmers and the wider food and agricultural system can leverage the power of digital to address some of the sector's traditional and growing challenges facing smallholder farmers. The event comes just a few days after the United Nations' COP27 Climate Conference, which called for urgent action to help smallholder farmers address the immediate and long-term implications of climate change, which is already having catastrophic effects in Africa and Asia, as…